Decline in Capital Investment Demand Due to Agricultural Policy Changes and Economic Deterioration
First written in FY2016. 3 of 5 entries say "Restated". Latest entry: FY2020.
Maruyama Mfg.Co. moved to the "Worse" side of this theme in 2020, 2 years before the typical company in this theme (2022).
0 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「In the agricultural and forestry machinery industry, shipments and production of large machinery such as tractors and combine harvesters declined significantly from the previous consolidated fiscal year, due to the impact of infectious diseases and the backlash from front-loaded demand before the consumption tax increase.」
The company continued to describe the decline in shipments and production of large agricultural machinery resulting from infectious diseases and the backlash from front-loaded demand before the consumption tax increase as deterioration in the demand environment for the full fiscal year. - FY2020-Q1WorsenedAnnual report
「The agricultural and forestry machinery industry remained in difficult conditions, with domestic shipments and production of agricultural and forestry machinery declining amid structural changes such as farmland consolidation and shifts toward field crops and vegetable cultivation, as well as the backlash from the consumption tax increase.」
Deterioration in the demand environment, including the backlash from the consumption tax increase, has materialized as lower domestic shipments and production of agricultural and forestry machinery. - FY2018RestatedAnnual report
「The business environment surrounding the Group is expected to fluctuate significantly due to changes in domestic government agricultural policy, consumption tax increases, population ageing, population decline, and abnormal weather, as well as changes in overseas policies, tax systems, laws and regulations, and exchange rates.」
The company continues to identify domestic agricultural policy, consumption tax increases, demographics, and abnormal weather, as well as overseas policies, tax systems, laws and regulations, and exchange-rate fluctuations, as business-environment risks. - FY2017RestatedAnnual report
「Looking ahead, the business environment surrounding the group is fluctuating significantly owing to changes in the government's agricultural policies in Japan, the effects of uncertainty surrounding policies in overseas countries, and exchange-rate movements.」
The company continues to identify changes in domestic agricultural policy, uncertainty over overseas policies, and exchange-rate fluctuations as factors that could change the business environment. - FY2016First statedAnnual report
「In the agricultural and forestry machinery segment, if demand for our products declines because of government agricultural policies, such as revisions to acreage-reduction policies, product sales by the Group may decline, affecting operating results and financial position. In the industrial machinery and other machinery segments, if private-sector and public-sector capital investment declines because of worsening economic conditions, the Group's product sales may decline, affecting operating results and financial position.」
The company identifies as demand risks a decline in agricultural and forestry machinery demand resulting from changes in agricultural policy and a decline in private-sector and public-sector investment resulting from economic deterioration.