Risk of declining demand due to fluctuations in customers’ capital expenditure plans
First written in FY2024. 2 of 5 entries say "Materialised", first in FY2025. Latest entry: 2026-08-07.
Seibu Giken moved to the "Worse" side of this theme in 2026, 7 years after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 62 of 77 companies on the "Worse" side.
10 other companies' latest entry also says "Materialised".
- 2026-08-07MaterialisedFinancial results presentation
「Outside China and South Korea, results in Asia are below the previous forecast due to the cancellation in India of an order received in 2025 and the postponement to a later period of orders expected in Southeast Asia during the current fiscal year. Europe is below the previous forecast due to the loss of a large order expected during the current fiscal year and the reassignment of the sales-recognition region for a large order (1 project) from Europe to China, among other factors.」
Specific events, including the cancellation of an Indian project and the loss of a large European project, were cited as existing risks related to customers’ capital investment plans and demand fluctuations. - FY2026-H1RestatedAnnual report
「Against this backdrop, some companies may take a cautious approach to capital investment in the short term, but the shift toward decarbonization is expected to continue over the medium to long term, and corporate capital investment is still expected to expand.」
The possibility of more cautious corporate capital investment in the short term continues to be disclosed against the backdrop of trade-policy changes and reassessment of decarbonization policies. The actual decline in orders is explained as a decline following large domestic projects in the previous year. - 2026-05-08WorsenedFinancial results presentation
「Investment has stagnated due to the global slowdown in EV demand, but investment currently under way in Japan is progressing as planned」
Investment stagnation accompanying the global slowdown in EV demand was specifically identified as a factor that could cause fluctuations in demand related to customers’ capital investment plans. - FY2025MaterialisedAnnual report
「During the fiscal year, a subsidiary selling dehumidifiers in the United States reduced the carrying amount of its assets to their recoverable amount because sluggish domestic demand for dehumidifiers is expected to result in recurring losses, and recorded the ¥7 million reduction as an impairment loss under extraordinary losses.」
The risk related to customer capital investment and demand volatility materialized as weak demand at the US dehumidifier-sales subsidiary and a ¥7 million impairment loss. - FY2024First statedAnnual report
「If changes in economic conditions cause customers to cancel, postpone or alter their investment plans, resulting in a decline in demand greater than anticipated, this may affect the Group's financial position and operating results.」
The Group explicitly identifies demand declines resulting from the cancellation, postponement or alteration of customers' capital investment plans as a major risk, as revenue is sensitive to customers' capital investment trends.