High dependence on the construction equipment market
First written in FY2016. 14 of 33 entries say "Restated". Latest entry: FY2026.
Yamashin-Filter Corp. moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 11 of 22 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In the fiscal year ending March 2026, sales to the construction equipment filter business account for approximately 90% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
Dependence on sales to the construction equipment filter business has risen from approximately 80% through the previous fiscal year to approximately 90%. - 2026-05-15MitigatedEarnings
「主力事業である建機用フィルタ事業においては、当連結会計年度において、各市場における需要の濃淡はあるものの、全体では新車需要は大幅に増加し、交換需要も堅調に推移したことから増収増益となりました。」
建機用フィルタ事業の増収増益を通じて、建設機械市場への依存に伴う業績面の影響が一部緩和された状態を記載している。 - FY2026-H1MitigatedAnnual report
「In the construction equipment filter business, the Group's core business, revenue and profit increased during the interim consolidated accounting period as demand for new vehicles recovered and replacement demand remained firm.」
While the dependence structure on the construction equipment market continues, the construction equipment filter business reported higher revenue and profit due to the recovery in demand for new vehicles and firm replacement demand. - FY2025RestatedAnnual report
「In the fiscal year ended March 2025, sales to the construction equipment filter business accounted for approximately 80% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
The company continues to disclose a high dependence structure, with approximately 80% of sales directed to the construction equipment filter business. - FY2025-H1RestatedAnnual report
「Under these conditions, in the construction equipment filter business, the Group's core business, demand for new construction equipment in North America, Asia, Europe and Japan fell below the previous fiscal year, while replacement demand increased significantly. Meanwhile, market conditions remained weak in China and demand declined.」
Regarding market fluctuation risk associated with dependence on the core construction equipment filter business, the Chinese market remained weak and demand continued to decline, while lower demand for new equipment and higher replacement demand coexisted in North America, Asia, Europe and Japan. - FY2024MaterialisedAnnual report
「Under these conditions, in the construction equipment filter business, the Group's core business, demand in the Chinese market declined significantly due to weak market conditions. In the North American and Japanese markets, demand remained firm as public and capital investment remained stable.」
As the high dependence structure, with approximately 80% of sales directed to the construction equipment filter business, continued, the filing states that demand in the Chinese market actually declined significantly in the fiscal year ended March 2024. - FY2024-Q1RestatedAnnual report
「Under these conditions, in the construction equipment filter business, the Group's core business, demand declined in the major European and Asian markets, while construction equipment operating hours and demand for new vehicles remained generally firm in North America and Japan. Meanwhile, demand remained weak in the Chinese market due to stagnant economic activity.」
With high dependence on the construction equipment market, demand continued to decline in Europe and Asia and remained weak in China, while demand in North America and Japan was described as generally firm. - FY2023MaterialisedAnnual report
「In the fiscal year ended March 2023, sales to the construction equipment filter business accounted for approximately 80% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
As the high dependence structure, with approximately 80% of sales directed to the construction equipment filter business, continued, demand in the Chinese market declined significantly due to stagnant economic activity, resulting in lower consolidated sales. - FY2023-Q3MaterialisedAnnual report
「Meanwhile, the Company's sales declined during the nine-month period ended 31 December due to the impact of lockdowns in the Chinese market and other factors.」
While high dependence on the construction equipment market continues, the filing reports an actual decline in sales due to the impact of lockdowns in the Chinese market. - FY2023-Q1MaterialisedAnnual report
「In major regions including Japan, North America, Europe and Asia, construction equipment operating hours and demand for new vehicles remained firm, but the Company's sales declined during the three-month period ended 30 June due to the impact of lockdowns in the Chinese market.」
While dependence on the construction equipment market continues, the filing reports an actual decline in sales due to lockdowns in the Chinese market. - FY2022RestatedAnnual report
「In the fiscal year ended March 2022, sales to the construction equipment filter business accounted for approximately 80% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
The company continues to disclose a high dependence structure, with approximately 80% of sales directed to the construction equipment filter business. - FY2022-Q2RestatedAnnual report
「In the construction equipment market for the construction equipment filter business, the Group's core business, the significant increase in construction equipment operating hours and rapid recovery in demand for new vehicles, driven by infrastructure investment to support the recovery of economies affected by COVID-19 and increased resource demand, resulted in a substantial increase in the Company's sales during the six-month period ended 30 September.」
Although there was no change in the dependence structure on the construction equipment market itself, the filing states that construction equipment operating hours and demand for new vehicles recovered against a backdrop of infrastructure investment and resource demand. - FY2022-Q1MitigatedAnnual report
「The Company's sales for the three-month period ended 30 June increased significantly, recovering to the level preceding the spread of COVID-19.」
Although the dependence structure on the construction equipment market itself continues, the filing states that sales recovered to pre-pandemic levels as economies reopened and construction equipment operating hours and demand for new vehicles recovered. - FY2021-Q3RestatedAnnual report
「In the construction equipment market for the construction equipment filter business, the Group's core business, production activities of major customers that had stagnated due to the impact of COVID-19 resumed in various countries. Demand increased in the Japanese, US and European markets, while current demand declined in Asian markets excluding China.」
The high dependence structure on the construction equipment market continues. While production activities at major customers resumed and demand increased in Japan, the United States and Europe, the filing also reported a decline in current demand in Asian markets excluding China. - FY2021-Q2RestatedAnnual report
「In the construction equipment market for the construction equipment filter business, the Group's core business, production activities of major customers, which had stagnated due to the impact of COVID-19, were trending toward recovery, but current demand declined in the Japanese, US, European and Asian markets.」
Although production activities at major customers were described as trending toward recovery, the filing reported a decline in current demand in the Japanese, US, European and Asian markets, indicating that market fluctuation risk associated with high dependence on the construction equipment market continues. - FY2021-Q1WorsenedAnnual report
「In the construction equipment market for the construction equipment filter business, the Group's core business, production activities and supply chains of major customers were significantly affected by lockdowns implemented in various countries from March 2020 onward, and demand declined in the Japanese, US, European and Asian markets.」
While high dependence on the construction equipment market continues, the filing reported declines in demand in the Japanese, US, European and Asian markets due to the impact of lockdowns. - FY2020MitigatedAnnual report
「In the fiscal year ended March 2020, sales to the construction equipment market accounted for approximately 80% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
Dependence on sales to the construction equipment market declined from approximately 90% to approximately 80%. However, dependence remains high, and the risk of lower sales due to economic stagnation and structural and technological innovation in construction equipment continues. - FY2020-Q3WorsenedAnnual report
「In Japan, although production by major customers was significantly affected by Typhoon Hagibis in October 2019, public and capital investment continued to trend upward, and overall demand remained at the same level as the previous year. In Europe, uncertainty was dispelled as the UK's EU withdrawal issue moved toward resolution for the time being, but demand declined slightly.」
While there was no change in the dependence structure on the construction equipment market, the filing reported an impact on major customers' production from Typhoon Hagibis and a slight decline in demand in Europe. - FY2020-Q2WorsenedAnnual report
「The market share of Chinese construction equipment manufacturers expanded significantly, and as a result, the market share of each of the Group's major customers has been trending downward. In Southeast Asia, although potential demand associated with infrastructure development remained firm, the market share of the Group's major customers also declined as Chinese construction equipment manufacturers expanded their market share, as in China. During the second quarter, demand temporarily declined as public investment remained constrained due to the impact of national elections in Indonesia, Thailand and the Philippines.」
As the high dependence on the construction equipment market continues, a decline in the market share of major customers due to the rise of Chinese manufacturers was reported not only in China but also in Southeast Asia, where demand also temporarily declined. - FY2020-Q1WorsenedAnnual report
「In China, demand for construction equipment remained firm alongside the expansion of infrastructure investment. However, amid reports of an economic slowdown resulting from prolonged US-China trade friction, demand for construction equipment in the market was supported by increased investment in public works led by the Chinese government. Chinese local manufacturers' market share expanded significantly, and as a result, the market share of each of the Group's major customers has been trending downward. Meanwhile, in Southeast Asia, overall demand declined as public investment was temporarily restrained due to the impact of national elections in Indonesia, Thailand and the Philippines.」
While there was no change in the dependence structure on the construction equipment market, the filing reported a decline in the market share of major customers due to the rise of Chinese local manufacturers, as well as a decline in demand in Southeast Asia, adding downside factors affecting market conditions. - FY2019RestatedAnnual report
「In the fiscal year ended March 2019, sales to the construction equipment market accounted for approximately 90% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
The company continues to disclose a high dependence structure, with approximately 90% of sales directed to the construction equipment market. Although demand in China slowed from the second half onward, no change in the level of dependence itself was reported. - FY2019-Q3WorsenedAnnual report
「During the nine-month period ended 31 December 2018, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, capital investment in Japan was trending upward, but public investment declined and demand was slightly below the previous year. In North America, although the intensification of US-China trade friction had begun to affect the performance of some US companies, demand increased, particularly in energy-related and infrastructure construction sectors. In Europe, demand remained firm amid continuing uncertainty over the outlook for the UK's withdrawal from the EU. In Southeast Asia, demand increased overall, particularly in Indonesia. In China, demand increased compared with the previous fiscal year, but from the third quarter onward there were signs of change, including a slowdown in apartment construction and infrastructure development.」
While there was no change in the high dependence structure on the construction equipment market, the filing added deterioration factors affecting market conditions, including intensifying US-China trade friction, its impact on the performance of some US companies, and signs of a slowdown in apartment construction and infrastructure development in China. - FY2019-Q2RestatedAnnual report
「During the six-month period ended 30 September 2018, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, residential and capital investment in Japan increased, but public investment declined and demand was slightly below the previous year. In North America, demand continued to increase, particularly in energy-related and infrastructure construction sectors, supported by strong capital equipment demand. In Europe, demand increased, particularly in Germany. In China, construction equipment demand increased, supported by firm infrastructure investment, while demand increased overall in Southeast Asia, particularly in Indonesia, as in the previous year.」
There was no material change in the high dependence structure on sales to the construction equipment market. Demand in Japan was slightly below the previous year, while demand increased or continued to increase in North America, Europe, China and Southeast Asia. - FY2019-Q1RestatedAnnual report
「During the three-month period ended 30 June 2018, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, public and capital investment in Japan increased, but demand was slightly below the previous year. In North America, demand continued to increase, particularly in energy-related and infrastructure construction sectors, supported by strong capital equipment demand. In Europe, demand increased, particularly in Germany. In China, a substantial increase in demand for construction equipment continued alongside the expansion of infrastructure investment, as in the previous fiscal year, while demand increased overall in Southeast Asia, particularly in Indonesia.」
There was no material change in the high dependence structure on sales to the construction equipment market. Demand in Japan was reported to be slightly below the previous year, while demand increased or continued to increase in North America, Europe, China and Southeast Asia. - FY2018RestatedAnnual report
「In the fiscal year ended March 2018, sales to the construction equipment market accounted for approximately 90% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
The dependence structure, with approximately 90% of sales directed to the construction equipment market, continues. During the fiscal year, demand increased or remained firm in Japan, North America, Europe, China and Southeast Asia. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended 31 December 2017, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, the economic recovery trend continued in Japan, with corporate earnings and capital investment remaining firm, and demand exceeded the previous year. In North America, demand continued to increase as housing starts remained firm. In Europe, demand remained firm. In China, a substantial increase in demand for construction equipment continued alongside the expansion of infrastructure investment, while demand increased overall in Southeast Asia, particularly in Indonesia and Malaysia.」
There was no material change in the dependence structure on the construction equipment market. The filing reports demand exceeding the previous year, continuing to increase or remaining firm in the major regions. - FY2018-Q2RestatedAnnual report
「During the six-month period ended 30 September 2017, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, corporate earnings and capital investment in Japan showed signs of recovery, the economic recovery trend continued, and demand exceeded the previous year. In North America, demand continued to increase as housing starts remained firm. In Europe, demand remained firm. In China, a substantial increase in demand for construction equipment continued alongside the expansion of infrastructure investment, while demand increased overall in Southeast Asia, particularly in Indonesia and Malaysia.」
Although no material change was reported in the dependence structure on sales to the construction equipment market, the quarter's disclosure reported increasing demand in Japan, North America, China and Southeast Asia, and firm demand in Europe. - FY2018-Q1RestatedAnnual report
「During the three-month period ended 30 June 2017, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, corporate earnings and capital investment in Japan showed signs of recovery against a backdrop of firm domestic and overseas demand, and demand exceeded the previous year. In North America, demand continued to increase as housing starts remained firm. In Europe, demand remained firm. In China, a substantial increase in demand for construction equipment continued alongside the expansion of infrastructure investment, while demand increased overall in Southeast Asia.」
The sales dependence structure on the construction equipment market itself has not changed, but during the quarter, firm or increasing demand was reported in Japan, North America, Europe, China and Southeast Asia. The filing expressly states that there were no material changes in business or other risks. - FY2017MaterialisedAnnual report
「In the fiscal year ended March 2017, sales to the construction equipment market accounted for approximately 90% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term. In Japan, demand fell below the previous year as rush demand ahead of emissions regulations came to an end, despite a recovery in capital investment.」
The dependence structure, with approximately 90% of sales directed to the construction equipment market, continues, while market fluctuations have actually occurred, including demand in Japan falling below the previous year. - FY2017-Q3MaterialisedAnnual report
「During the nine-month period ended 31 December 2016, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, the upward momentum in both public and residential investment in Japan paused. Although capital investment showed a gradual recovery, demand declined due to the reaction following rush demand ahead of emissions regulations. In the Americas, housing starts remained firm in North America, but demand fell below the previous year due to lower energy-related investment. In Latin America, demand for mining equipment investment remained weak, and demand fell below the previous year. In Europe, construction equipment demand in major countries, including Germany, was on an expansionary trend, and demand increased overall. In China, replacement demand for construction equipment showed signs of recovery, supported by government public investment, particularly in fixed-asset and infrastructure investment, and demand exceeded the previous year. In Southeast Asia, demand for mining equipment investment remained weak, but demand was trending upward in Indonesia, India, Thailand and other countries where construction equipment investment was supported by infrastructure investment, and overall demand exceeded the previous year.」
In relation to dependence on the construction equipment market, actual declines in demand or demand below the previous year were reported in Japan, North America and Latin America. By contrast, demand growth was also reported in Europe, China and Southeast Asia, and market fluctuations accompanied by regional differences continued. - FY2017-Q2MaterialisedAnnual report
「During the six-month period ended 30 September 2016, in the construction equipment market, centered on hydraulic excavators and the Group's principal market, the upward momentum in both public and residential investment in Japan paused. Although capital investment showed a gradual recovery, demand declined due to the reaction following rush demand ahead of emissions regulations. In the Americas, housing starts remained firm in North America, but demand fell below the previous year due to lower energy-related investment. In Latin America, demand for mining equipment investment remained weak, and demand fell below the previous year. In Europe, demand increased overall as construction equipment demand remained firm in major countries, including Germany. In China, replacement demand for construction equipment showed signs of recovery, supported by government public investment, particularly in fixed-asset and infrastructure investment, and demand exceeded the previous year. In Southeast Asia, demand was trending upward in Thailand, where infrastructure investment supported demand, while in Indonesia, the largest construction equipment market in Southeast Asia, demand for mining equipment investment remained weak but overall demand exceeded the previous year, supported by firm infrastructure investment.」
In relation to dependence on the construction equipment market, actual declines in demand or demand below the previous year were reported in Japan, North America and Latin America. By contrast, demand growth was also reported in Europe, China and Southeast Asia, and market fluctuations accompanied by regional differences continued. - FY2017-Q1MaterialisedAnnual report
「In Japan, both public investment and residential investment were trending upward, but demand declined due to the reaction following rush demand ahead of emissions regulations. In the United States, housing starts remained firm, but demand fell below the previous year due to weaker infrastructure investment and lower energy-related investment resulting from low crude oil prices. In Europe, recovery in France was evident and demand was trending upward, while demand was also increasing in Southeast Asia. In China, although property investment showed signs of recovery, economic growth was trending downward due to restraints on fixed-asset investment, and demand declined.」
In relation to dependence on the construction equipment market, actual declines in demand or demand below the previous year were reported in Japan, the United States and China. By contrast, demand growth was also reported in Europe and Southeast Asia, indicating regional differences. - FY2016First statedAnnual report
「In the fiscal year ended March 2016, sales to the construction equipment market accounted for approximately 90% of the Group's business activities, and we plan for this proportion to remain high over the medium to long term.」
Sales to the construction equipment market account for approximately 90%, and the filing states that weak demand and structural and technological innovation may affect business performance.