Declining Trend in Public Investment Budgets
First written in FY2016-Q3. 11 of 26 entries say "Restated". Latest entry: FY2026-H1.
Wesco Holdings moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2024: 8 of 28 companies on the "Worse" side.
1 other company's latest entry also says "Softened".
- FY2026-H1SoftenedAnnual report
「As the plan covers 5 years from fiscal 2026 and includes projects totaling approximately ¥20 trillion, public-works spending is expected to remain stable, and the external environment is expected to remain solid.」
With regard to the risk of a decline in public-investment budgets, it states that public-works spending is expected to remain stable, supported by the National Resilience Plan for fiscal 2026 to fiscal 2030 and a project scale of approximately ¥20 trillion. - FY2025SoftenedAnnual report
「On 6 June 2025, the Cabinet approved the First National Resilience Implementation Medium-Term Plan, covering the 5-year period from fiscal 2026 to fiscal 2030.」
With regard to the risk of a decline in public-investment budgets, it states that the National Resilience Implementation Medium-Term Plan for fiscal 2026 to fiscal 2030 has been approved by the Cabinet. At the same time, it continues to identify the risk of a sharp change in public-investment policy. - FY2024-Q2RestatedAnnual report
「Against this economic backdrop, public-works spending has remained stable in the core comprehensive construction consulting business, supported by the need for national resilience measures, including disaster prevention and mitigation and the maintenance and management of aging social infrastructure. The external environment therefore remains solid.」
The disclosure continues to describe public works-related expenditures and the external environment for the core business as stable and solid against the backdrop of strengthening national resilience and maintaining and managing social infrastructure. - FY2023RestatedAnnual report
「The order environment for this business has remained solid, and public investment budgets have remained strong due to the impact of the government's Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience and other measures.」
While maintaining the description of solid public investment budgets and the order environment against the backdrop of national resilience measures, the disclosure also addresses the continuation of those policies from fiscal 2025 onward and the risk of policy changes. - FY2023-Q3RestatedAnnual report
「Against this economic backdrop, public works-related expenditures for the Group's core comprehensive construction consulting business have remained stable due to the need to strengthen national resilience by maintaining and managing aging social infrastructure and responding to increasingly severe natural disasters. In addition, the impact of COVID-19 has been limited, and the external environment has remained solid.」
The disclosure continues to describe public works-related expenditures and the external environment for the core business as stable and solid against the backdrop of strengthening national resilience and maintaining and managing social infrastructure. - FY2023-Q2RestatedAnnual report
「In the Group's core comprehensive construction consulting business, public works-related expenditures have remained stable, and the external environment has remained solid due to the impact of the Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience.」
The disclosure continues to describe public works-related expenditures and the order environment as stable and solid against the backdrop of national resilience measures. - FY2022RestatedAnnual report
「The order environment for this business has remained solid, supported by the government's Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience and other measures. However, if public investment policy changes abruptly, orders could decline significantly and affect the Group's business performance.」
While maintaining the description of solid public investment budgets and the order environment against the backdrop of national resilience measures, the disclosure also identifies the risk of a decline resulting from policy changes. - FY2022-Q2RestatedAnnual report
「In the Group's core comprehensive construction consulting business, public works-related expenditures have remained stable, and the external environment has remained solid due to the impact of the Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience.」
The disclosure continues to describe a solid order environment for the comprehensive construction consulting business, supported by public works-related expenditures and national resilience measures. - FY2022-Q1RestatedAnnual report
「To address increasingly severe natural disasters, the government launched the Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience in fiscal 2021. The construction consulting industry's role is significant, and the business environment has remained solid.」
The disclosure continues to describe public investment budgets and the order environment as solid against the backdrop of the Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience. - FY2021ReframedAnnual report
「The order environment for this business has remained solid, supported by the government's Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience and other measures. However, if public investment policy changes abruptly, orders could decline significantly and affect the Group's business performance.」
Concerns over declining public investment budgets are now presented alongside the current strength resulting from the Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience and the future risk of a decline due to policy changes and deteriorating local-government finances. - FY2021-Q2SoftenedAnnual report
「In the Group's core comprehensive construction consulting business, domestic public works budgets have remained stable, supported by the Cabinet approval of the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience,” among other factors.」
Rather than emphasizing concerns over declining public investment budgets, the disclosure highlights budget stability against the backdrop of the Cabinet approval of the Five-Year Acceleration Plan for Disaster Prevention and Mitigation and Strengthening National Resilience. - FY2021-Q1SoftenedAnnual report
「In the market environment surrounding the Group, public investment budgets for the comprehensive construction consulting business, the Group's core business, have remained solid for infrastructure development based on national resilience initiatives, and the order environment has remained generally favorable.」
Rather than emphasizing concerns over declining public investment budgets, the disclosure highlights the solid order environment against the backdrop of budgets related to strengthening national resilience. - FY2020-Q2RestatedAnnual report
「The order environment for the Group's core comprehensive construction consulting business has remained solid, supported by the focused allocation of budgets for disaster prevention and mitigation, the maintenance and management of social infrastructure, and strengthening national resilience.」
The disclosure continues to describe a solid order environment resulting from the focused allocation of budgets for disaster prevention and mitigation, the maintenance and management of social infrastructure, and strengthening national resilience. - FY2020-Q1SoftenedAnnual report
「The order environment for the Group's core comprehensive construction consulting business has remained solid, supported by the focused allocation of budgets for disaster prevention and mitigation, the maintenance and management of social infrastructure, and strengthening national resilience.」
Rather than emphasizing concerns over declining public investment budgets, the disclosure highlights the solid order environment resulting from the focused allocation of budgets for disaster prevention and mitigation, the maintenance and management of social infrastructure, and strengthening national resilience. - FY2019-Q3SoftenedAnnual report
「Public investment budgets for the comprehensive construction consulting business, the Group's core business, have continued to trend upward, partly because supplementary budgets for strengthening national resilience were approved.」
The disclosure explains that public investment budgets have continued to trend upward against the backdrop of supplementary budgets for strengthening national resilience and other factors. - FY2019-Q2SoftenedAnnual report
「In the market environment surrounding the Group, public investment budgets for the comprehensive construction consulting business, the Group's core business, have continued to trend upward. In addition, the passage of supplementary budgets for disaster recovery and reconstruction has created demand for emergency disaster recovery services.」
The disclosure states that public investment budgets have continued to trend upward and also points to demand for emergency disaster recovery resulting from the passage of supplementary budgets. - FY2019-Q1SoftenedAnnual report
「Public investment budgets for the comprehensive construction consulting business, the Group's core business, have continued to trend upward. In addition, the passage of supplementary budgets for disaster recovery and reconstruction has created demand in the construction consulting industry to respond to emergency disaster recovery.」
The description has changed from public investment budgets being approximately the same as in the previous year, with increases in some fields, to a continuing upward trend. It also points to demand for emergency disaster recovery arising from supplementary budgets. - FY2018ReframedAnnual report
「Government measures have temporarily increased total public investment budgets, while the volume of orders from government agencies for the comprehensive construction consulting business, the Group's core business, has remained stable.」
The annual description organizes the explanation of public investment budgets as a temporary increase resulting from government measures and stable order volumes from government agencies, compared with the quarterly explanation that they were approximately the same as in the previous year. - FY2018-Q3RestatedAnnual report
「Public investment budgets for the comprehensive construction consulting business, the Group's core business, have continued to increase in some fields and remained at approximately the same level as in the same quarter of the previous year during the third quarter of the current consolidated cumulative period.」
The disclosure continues to state that public investment budgets overall are approximately the same as in the previous year, while increases have continued in some fields. - FY2018-Q2ReframedAnnual report
「Public investment budgets for the comprehensive construction consulting business, the Group's core business, have continued to increase in some fields and remained at approximately the same level as in the same quarter of the previous year during the second quarter of the current consolidated cumulative period.」
The description has changed to state that public investment budgets overall are approximately the same as in the previous year, while increases have continued in some fields. - FY2017ReframedAnnual report
「Against this economic backdrop, the market environment surrounding the Group has continued to recover, as government measures have temporarily increased public investment budgets.」
The description has returned, in the annual report, from “approximately the same as in the same quarter of the previous year” in the first through third quarters to a temporary increase and recovery trend resulting from government measures. - FY2017-Q3RestatedAnnual report
「Against this economic backdrop, in the market environment surrounding the Group, public investment budgets for the comprehensive construction consulting business, the Group's core business, remained at approximately the same level as in the same quarter of the previous year during the third quarter of the current consolidated cumulative period.」
The disclosure continues to state that public investment budgets are approximately the same as in the same quarter of the previous year. - FY2017-Q2RestatedAnnual report
「Against this economic backdrop, in the market environment surrounding the Group, public investment budgets for the comprehensive construction consulting business, the Group's core business, remained at approximately the same level as in the same quarter of the previous year during the second quarter of the current consolidated cumulative period.」
The disclosure continues to state that public investment budgets are approximately the same as in the same quarter of the previous year. - FY2017-Q1ReframedAnnual report
「Against this economic backdrop, in the market environment surrounding the Group, public investment budgets for the comprehensive construction consulting business, the Group's core business, remained at approximately the same level as in the same quarter of the previous year during the first quarter of the current consolidated cumulative period.」
The description of public investment budgets has changed from a temporary increase and recovery trend in the previous fiscal year to a level approximately the same as in the same quarter of the previous year. - FY2016SoftenedAnnual report
「Against this economic backdrop, the market environment surrounding the Group has continued to recover, as government measures have temporarily increased public investment budgets.」
The description has changed from a slight year-on-year decline in the previous quarter to a temporary increase and recovery trend resulting from government measures. - FY2016-Q3First statedAnnual report
「Public investment budgets for the comprehensive construction consulting business, the Group's core business, have trended slightly lower during the third quarter of the current consolidated cumulative period compared with the same quarter of the previous year.」
Regarding the demand environment for the core business, the disclosure states that public investment budgets have declined slightly year on year.