Performance Fluctuations Driven by Domestic and Overseas Construction Markets and Public Investment Trends

「Nevertheless, customers have continued to take a cautious approach to capital investment because of higher construction costs, the resulting decline in construction volumes and a shortage of skilled workers.」

「During the six-month interim accounting period, domestic construction investment overall remained steady, supported by resilient public investment and recovering private investment. At the same time, customers continued to take a cautious approach to capital investment due to rising construction costs, the resulting decline in construction volumes, and shortages of skilled workers.」

「建設コストの上昇やそれに伴う施工量の減少、技能労働者不足の影響により、顧客の設備投資意欲は慎重な状況が続きました。」

「However, rising construction costs, the resulting decline in construction volumes, and shortages of skilled workers dampened users’ capital investment, and their impact on sales of standard machines also began to emerge.」

「Amid a challenging operating environment, users’ appetite for capital investment declined sharply, leading us to lower our earnings forecast in February.」

「During the fiscal year, domestic public and private construction investment remained steady, and corporate capital investment progressed stably. However, the construction industry continued to face a challenging operating environment as persistently high raw material and construction material prices, together with rising labor costs, put pressure on profits.」

「During the first six months of the fiscal year, domestic public construction investment remained resilient and private construction investment was also steady, resulting in stable customer capital investment. However, construction volumes in public works continued to contract due to persistently high construction material prices and other factors, affecting sales of high-gross-margin products and components used to build permanent structures.」

「However, continued high prices for steel and other construction materials led to an ongoing decline in construction volumes for public works, affecting sales of high-gross-margin products and components used to build permanent structures.」

「As the prices of steel and other construction materials soared, materials accounted for a larger share of public works budgets, resulting in a pronounced tendency toward lower construction volumes. Sales of products and components used to build permanent structures, which carry high gross margins, were consequently affected to a significant extent.」

「However, as the prices of steel and other materials soared, materials accounted for a larger share of public works budgets, resulting in a tendency toward lower construction volumes. This raised concerns about the impact on sales of products and components used to build permanent structures.」

「During the first three months of the fiscal year, domestic public investment remained resilient, private construction investment maintained its strength, and customers’ capital investment progressed steadily. However, energy and component prices remained high, requiring continued monitoring and appropriate action.」

「During the fiscal year, domestic public investment remained resilient, private construction investment continued to recover, and customers’ appetite for capital investment remained steady. However, the economic outlook remained uncertain due to soaring raw material and energy costs against the backdrop of the situation in Ukraine and other factors.」

「Domestic public investment remained high and resilient, while private construction investment, which had been declining, also showed signs of recovery. As a result, customers’ appetite for capital investment recovered gradually. However, the effects of shortages of electronic components, logistics disruptions, and soaring raw material and construction material prices, although limited, have begun to emerge and require continued monitoring.」

「During the first three months of the fiscal year, domestic public investment remained high and resilient. Although there were some signs of renewed activity in private construction investment, which had been declining, customers’ appetite for capital investment was expected to recover. Overseas business activities, however, continued to be constrained by restrictions on cross-border travel and other factors due to the impact of COVID-19.」

「During the first nine months of the fiscal year, the business environment surrounding our Group was characterized by domestic public construction budgets remaining at high levels for the second consecutive year. However, the outlook for private construction investment remained uncertain due to the impact of COVID-19, and customers showed a cautious stance toward capital investment.」

「During the first six months of the fiscal year, the business environment surrounding our Group remained characterized by steady domestic public investment. However, private investment declined while the timing of the end of the COVID-19 pandemic remained uncertain, and customers continued to take a cautious approach to capital investment.」

「During the first quarter of the current consolidated cumulative period, domestic public investment remained solid, but private investment weakened because of the prolonged global spread of COVID-19, and customers showed a cautious stance toward capital expenditure.」

「The group's business environment remained uncertain, despite domestic public-works budgets being secured at high levels for the second consecutive year, because of a shortage of skilled construction workers and the resulting increase in unsuccessful and failed bids, temporary construction suspensions, extended construction periods, postponed orders and concerns about a further resurgence of COVID-19 infections. Against this backdrop, customers continued to take a cautious stance toward capital expenditure.」

「Although domestic public construction budgets remained at high levels for the second consecutive year, there was some impact from temporary construction suspensions, extended construction periods and postponed orders associated with the spread of COVID-19. In addition, customers became more cautious about capital expenditure because of the shortage of skilled construction workers and concerns about a post-Tokyo Olympics backlash in demand, increasing uncertainty about the outlook.」

「Public investment remained solid in areas including recovery and reconstruction from natural disasters, advance disaster-prevention and mitigation measures, and measures to address aging social infrastructure. However, capital expenditure showed a cautious trend amid increasing unsuccessful and failed bids due to a shortage of skilled construction workers and uncertainty over investment and demand after the Tokyo Olympics and Paralympics.」

「In the construction-equipment business, sales of standard models such as the Silent Piler F101 and Silent Piler F111 remained firm, supported by continued demand for disaster-recovery construction and disaster-prevention and mitigation measures. For large machines, however, capital expenditure in preparation for the busy construction season expected to begin around October was concentrated in the previous fourth quarter. The current period therefore became a preparation and planning period ahead of the next concentrated ordering cycle, and activity temporarily leveled off.」

「However, conditions in domestic and international construction markets, particularly trends in public investment, may affect the group's operating results.」

「Although demand in overseas markets fluctuated significantly, sales of large machinery declined year on year, and net sales for the first quarter of the current consolidated cumulative period were ¥6,719 million, down 1.3% year on year.」

「However, conditions in domestic and international construction markets, particularly trends in public investment, may affect the group's operating results.」

「However, conditions in domestic and international construction markets, particularly trends in public investment, may affect the group's operating results.」