Dependence on construction demand and capital investment trends
First written in FY2020. 17 of 22 entries say "Materialised", first in FY2021-Q2. Latest entry: 2026-11-12.
Japan Insulation moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 79 of 102 companies on the "Worse" side.
13 other companies' latest entry also says "Materialised".
- FY2026MitigatedAnnual report
「Total building-related revenue was ¥5,115 million, up 14.7% year on year.」
Orders for large-scale fireproofing projects and other work increased in the building-related business, while maintenance and construction work also remained firm in the plant-related business, mitigating the impact of demand-dependence risk from the previous fiscal year. Meanwhile, demand for insulation materials in plant-related sales declined. - FY2026-H1Update to interim-period demand trendsAnnual report
「In the construction business, maintenance and construction work in the power, chemical, steel and oil sectors remained firm, resulting in a year-on-year increase in construction revenue.」
Regarding dependence on construction demand and capital investment trends, fireproofing work in the building-related business and maintenance and construction work in the plant-related business remained firm, with revenue in both segments exceeding the year-earlier level. - FY2025Full-year demand trends updatedAnnual report
「In the construction business, maintenance work related to the power, steel and chemical industries remained firm. However, construction projects levelled off during the period, resulting in a year-on-year decline in construction revenue.」
In the plant-related business, maintenance work remained firm, while construction revenue declined as construction projects levelled off. Dependence on construction and capital investment demand was reflected in full-year results. - FY2025-H1MaterialisedAnnual report
「Meanwhile, in the sales division, sales volumes of fireproofing materials for residential applications and carbon-fibre-reinforced plastic (CFRP) profiles remained firm. However, sales revenue declined year on year due partly to delays in the planned large projects in the non-residential sector and weak performance by small and medium-sized projects. The increase in construction revenue was insufficient to offset the decline in sales revenue. As a result, total building-related revenue was ¥2,183 million, down 2.0% year on year, and operating profit was ¥352 million, down 13.7%.」
Regarding dependence on construction demand, delays in large non-residential projects and weak performance by small and medium-sized projects resulted in a decline in sales revenue that could not be offset by higher construction revenue. - FY2024Update to full-year demand resultsAnnual report
「In the building-related business, revenue in the sales division increased due to the effect of passing through higher prices and a recovery in demand volume. However, revenue in the construction division declined due to a decrease in orders for large-scale fireproofing projects, resulting in a year-on-year decline in revenue for the building-related segment.」
Building-related revenue declined due to lower orders for large-scale fireproofing projects, while plant-related revenue increased as orders for maintenance work remained firm. - FY2024-Q3MaterialisedAnnual report
「Total building-related revenue was ¥3,456 million, down 6.7% year on year, and operating profit was ¥687 million, down 4.2%.」
Building-related revenue and operating profit declined due to weak orders for large logistics construction projects, with dependence on construction demand reflected in cumulative third-quarter results. - FY2024-Q2MaterialisedAnnual report
「In the construction business, fireproofing projects for data centres, offices and hospitals remained relatively firm, but orders for large logistics-related projects were weak, resulting in a year-on-year decline in construction revenue.」
Regarding dependence on construction demand, weak orders for large logistics-related projects were reflected in actual results as a decline in building-related construction revenue. Meanwhile, maintenance and construction work increased in the plant-related business. - FY2024-Q1MaterialisedAnnual report
「In the construction business, fireproofing projects for commercial facilities, hospitals and factories remained relatively firm, but orders for large logistics-related projects were weak, resulting in a year-on-year decline in construction revenue.」
Weak orders for large logistics construction projects resulted in dependence on construction demand being reflected in a decline in domestic building-related revenue in the first quarter. - FY2023MaterialisedAnnual report
「In the plant-related business, revenue declined year on year, partly because orders for large construction projects, including power plants, which had continued for several years, levelled off.」
Plant-related revenue declined 19.0% year on year as orders for large construction projects levelled off. - FY2023-Q3MaterialisedAnnual report
「In the building-related business, revenue from the construction segment edged down overall as large-scale fireproofing projects declined. However, in the fireproofing materials sales segment, revenue increased year on year as demand volumes began to recover in addition to the effect of price pass-through. In the plant-related business, periodic repair and maintenance work remained firm in the construction segment, but revenue declined year on year because the large-scale construction projects at power plants and elsewhere that had continued for several years had subsided, while demand volumes for insulation materials were taking time to recover despite progress in price pass-through.」
Large construction projects, including large-scale fireproofing projects and power plants, declined and then levelled off, with dependence on construction demand and capital investment trends reflected in third-quarter results. - FY2023-Q2MaterialisedAnnual report
「Although sales demand for insulation materials in the plant-related business was gradually recovering, revenue declined year on year because, as initially expected, the large-scale construction projects at power plants and elsewhere that had continued for several years had subsided.」
Revenue from the plant-related business declined year on year as large-scale construction projects subsided, reflecting dependence on construction demand and capital investment trends in second-quarter results. - FY2023-Q1MaterialisedAnnual report
「In the construction segment, demand for large-scale plant-related construction projects had run its course, while demand in the sales segment remained below pre-pandemic levels.」
Demand for large-scale construction projects in the plant-related business had run its course, and demand in the sales segment had not recovered to pre-pandemic levels. Dependence on construction demand and capital investment trends was reflected in first-quarter results. - FY2022MaterialisedAnnual report
「In the construction segment, demand for periodic repairs at power, oil and other plants and for construction work remained firm, and we were able to win orders for a greater volume of construction work than initially planned as the large-scale projects of the previous fiscal year subsided. In the sales segment, demand remained sluggish for maintenance products sold to general domestic customers and products of overseas subsidiaries.」
While construction demand remained firm, demand for products sold to general domestic customers and products of overseas subsidiaries continued to be sluggish, with dependence on demand trends reflected in full-year results. - FY2022-Q3MaterialisedAnnual report
「In the sales division of the building-related business, demand for fireproofing materials for small and medium-sized projects showed signs of gradually recovering in the second half as plans for small and medium-sized construction projects stalled, but remained sluggish overall.」
Demand for fireproofing materials remained sluggish overall because small and medium-sized construction projects stalled, although the company also described signs of a gradual recovery from the second half onward. - FY2022-Q2MaterialisedAnnual report
「In the construction-related business, demand in the construction segment, particularly for logistics facilities, remained broadly in line with the initial plan. In the sales segment, demand for noncombustible interior materials and molding materials was recovering from the impact of the COVID-19 pandemic but remained below the initial plan, and performance continued to be weak.」
Regarding dependence on demand trends, construction work remained firm, while sales demand for noncombustible interior materials, shaped materials and other products remained below the initial plan and continued to be sluggish. - FY2022-Q1MaterialisedAnnual report
「In the building-related business, although demand for construction work remained firm, sales of fireproofing materials, noncombustible interior materials and other products continued to be sluggish because of the impact of COVID-19.」
Regarding dependence on demand trends, construction demand remained firm, while sales of fireproofing materials, noncombustible interior materials and other products continued to be sluggish. - FY2021MaterialisedAnnual report
「Sales declined because sales to general domestic customers were sluggish, among other factors.」
Regarding dependence on construction demand and capital investment trends, sluggish sales to general domestic customers actually occurred. Construction work, however, remained firm. - FY2021-Q3MaterialisedAnnual report
「Demand for some products sold in Japan and overseas continues to decline, while construction work remains firm.」
Regarding dependence on construction and capital investment trends, demand for some product sales has continued to decline because of the impact of the spread of COVID-19 and the contraction of the domestic market. - FY2021-Q2MaterialisedAnnual report
「Although demand for some products sold in Japan and overseas has declined, construction work has remained firm.」
Regarding the existing risk of dependence on construction and capital investment demand, demand for some products sold in Japan and overseas has actually declined. - FY2020First statedAnnual report
「The primary markets for calcium silicate insulation materials span a broad range of industries, including oil and petrochemicals, power and gas, and steel, and depend on capital investment trends in those industries. Demand for calcium silicate fireproofing materials depends on construction trends for office buildings, logistics facilities and other structures.」
The company shows that its building-related business depends on construction demand, while its plant-related business depends on capital investment trends.