Risk of sluggish capital investment due to economic fluctuations and policy changes
First written in FY2016. 17 of 40 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-11-12.
Kikukawa Enterprise moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2019: 99 of 177 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The Japan Machine Tool Builders' Association reported that orders for fiscal 2025 totaled ¥1.7046 trillion, up 12.9% from the previous fiscal year, as overseas demand served as the main driver amid a weak-yen environment despite domestic demand being roughly unchanged from the previous year.」
Machine tool orders totaled ¥1.7046 trillion, up 12.9% from the previous fiscal year, providing evidence of improving external conditions with respect to the risk of sluggish capital investment. - FY2026-H1MitigatedAnnual report
「In the machine tool sector, orders for April–September reported by the Japan Machine Tool Builders' Association rose 9.9% year on year, showing a firm trend centered on exports, supported by the construction of additional data centers driven by advances in AI and demand for labor-saving measures across various industries.」
Machine tool orders rose 9.9% year on year against a backdrop of data center expansion driven by AI and demand for labor-saving measures, providing evidence of reduced risk from sluggish capital investment. - FY2025MitigatedAnnual report
「The Japan Machine Tool Builders' Association reported that orders for fiscal 2024 rose 3.9% year on year to ¥1.5097 trillion, marking the second consecutive year of growth, supported in part by firm demand from Asian countries.」
Machine tool orders rose 3.9% year on year to ¥1.5097 trillion, marking the second consecutive year of growth. This was cited as evidence of improving external conditions with respect to the risk of sluggish capital investment. - FY2025-H1RestatedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders in September 2024 fell 6.5% year on year to ¥125.2 billion, marking the third consecutive month of decline. Domestic orders continued to decline as companies remained cautious toward capital investment, while overseas orders remained firm.」
Machine tool orders fell 6.5% year on year to ¥125.2 billion, marking the third consecutive month of decline. Domestic capital investment remained cautious, while overseas orders were described as firm. - FY2024WorsenedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders for fiscal 2023 fell 14.8% year on year to ¥1.4531 trillion, marking the first decline in 3 years due to higher interest rates and concerns about a slowdown in the global economy.」
Fiscal 2023 machine tool orders totaled ¥1.4531 trillion, down 14.8% year on year and marking the first decline in 3 years. The risk of sluggish capital investment has actually materialized in the figures. - FY2024-Q3WorsenedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders in December 2023 fell 9.6% year on year to ¥127.0 billion, marking the 12th consecutive month of decline due to higher interest rates and concerns about a slowdown in the global economy.」
Machine tool orders fell 9.6% year on year to ¥127.0 billion, extending the decline to 12 consecutive months. Higher interest rates and concerns about a slowdown in the global economy were also cited as continuing factors. - FY2024-Q2WorsenedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders in September 2023 declined for the ninth consecutive month due to higher interest rates and concerns about a slowdown in the global economy. However, because the magnitude of the decline has been gradually narrowing since May 2023, orders are considered highly likely to have bottomed out.」
The decline in machine tool orders extended to 9 consecutive months, compared with 6 consecutive months previously. The narrowing decline and the possibility of a bottom were also noted. - FY2024-Q1WorsenedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders in June 2023 fell 21.7% year on year, marking the sixth consecutive month of decline due to higher interest rates and concerns about a slowdown in the global economy. However, the downward trend is beginning to level off, and orders remain broadly steady, albeit at a weak level.」
Machine tool orders fell 21.7% year on year, marking the sixth consecutive month of decline, indicating that the risk of sluggish capital investment is continuing to materialize. It was also noted that the downward trend is beginning to level off. Quantified: true; actually occurred: true. - FY2023WorsenedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders for fiscal 2022 totaled ¥1.7056 trillion, the second-highest level on record, driven by automation investment against a backdrop of labor shortages. However, amid concerns about economic slowdowns in Europe, the United States and China, caution toward capital investment is strengthening both domestically and overseas, and orders turned negative in March 2023, falling 15% year on year for the third consecutive month.」
Annual orders were at their second-highest level on record, but caution toward capital investment strengthened amid concerns about economic slowdowns in Europe, the United States and China. Orders in March 2023 fell 15% year on year, marking the third consecutive month of decline. - FY2023-Q3Domestic decline, overseas recovery, and greater caution toward capital investment were noted together.Annual report
「In machine tools, the Japan Machine Tool Builders' Association reported that domestic orders in December 2022 declined for the fourth consecutive month amid weak business sentiment. Overseas orders, however, exceeded the year-earlier level for the first time in 3 months, driven by demand for machinery for advanced industries such as electric vehicles and aircraft. For calendar 2022 as a whole, orders both domestically and overseas exceeded those in 2021, producing the second-highest annual order total on record. However, concerns about economic slowdowns in Europe, the United States and China are reportedly prompting increasingly cautious attitudes toward capital investment, particularly in smartphones and semiconductors.」
Domestic orders declined for the fourth consecutive month, while overseas orders exceeded the year-earlier level for the first time in 3 months, bringing full-year 2022 orders to their second-highest level on record. Greater caution toward capital investment amid concerns about economic slowdowns in Europe, the United States and China was also noted. - FY2023-Q2MitigatedAnnual report
「In machine tools, the Japan Machine Tool Builders' Association reported that orders in September 2022 rose 4.3% year on year, extending the upward trend for 23 consecutive months. Strong demand driven by increased production of components for a range of industries, including the semiconductor and other IT industries and increased EV production, is spreading beyond external demand to domestic demand as well.」
Machine tool orders rose 4.3% year on year, marking the 23rd consecutive month of growth, while external conditions continued to improve with respect to the risk of sluggish capital investment. Demand for the IT industry and increased EV production was also mentioned. - FY2023-Q1MitigatedAnnual report
「For machine tools, orders compiled by the Japan Machine Tool Builders' Association for June 2022 increased 17.1% year on year, continuing an upward trend for an extended period of 20 consecutive months. Strong demand centered on IT industries such as semiconductors spread to domestic demand as well as overseas demand.」
Machine tool orders increased 17.1% year on year and rose for the 20th consecutive month, continuing to indicate an improvement in the external environment related to the risk of sluggish capital investment. - FY2022MitigatedAnnual report
「Orders compiled by the Japan Machine Tool Builders' Association for fiscal 2021 totaled ¥1.6677 trillion, up approximately 68.7% from the previous fiscal year, achieving a V-shaped recovery in both Japan and overseas from the sharp decline in the previous fiscal year caused by the spread of the novel coronavirus.」
Machine tool orders totaled ¥1.6677 trillion, up approximately 68.7% from the previous fiscal year, indicating a recovery in the external environment related to the risk of sluggish capital investment. - FY2022-Q3MitigatedAnnual report
「The Japan Machine Tool Builders' Association reported that orders in December 2021 increased 40.5% year on year, exceeding the previous year's level for the 14th consecutive month. Total orders for the full year also increased 70.9% year on year, making clear that strong demand across a wide range of industries in anticipation of the post-COVID environment had spread to domestic demand as well as overseas demand.」
Machine tool orders in December 2021 increased 40.5% year on year and exceeded the previous year's level for the 14th consecutive month, while total annual orders increased 70.9% year on year. This indicates an improvement in the external environment related to the risk of sluggish capital investment. - FY2022-Q2MitigatedAnnual report
「For machine tools, orders compiled by the Japan Machine Tool Builders' Association for September 2021 increased 71.9% year on year, continuing an upward trend for the 11th consecutive month. Strong demand in anticipation of the post-COVID environment, centered on IT industries such as semiconductors, spread to domestic demand as well as overseas demand.」
Machine tool orders increased 71.9% year on year and continued an upward trend for the 11th consecutive month, indicating an improvement in the external environment related to the risk of sluggish capital investment. - FY2021WorsenedAnnual report
「For machine tools, orders compiled by the Japan Machine Tool Builders' Association for fiscal 2020 remained at a 10-year low of ¥988.4 billion, down 10% from the previous fiscal year. However, capital investment appetite in China and the United States recovered, and in March 2021 overseas orders exceeded ¥80 billion for the first time in 29 months while domestic orders exceeded ¥40 billion for the first time in 18 months, helped by various subsidy programs. A clear recovery trend in orders emerged across a wide range of industries in Japan and overseas.」
Machine tool orders in fiscal 2020 totaled ¥988.4 billion, down 10% from the previous fiscal year and the lowest level in 10 years. However, both overseas and domestic demand showed signs of recovery in March 2021. - FY2021-Q3WorsenedAnnual report
「For machine tools, orders compiled by the Japan Machine Tool Builders' Association in December 2020 increased year on year for the second consecutive month, indicating a recovery trend from the prolonged slump of more than 2 years. However, full-year orders for domestic machine tool manufacturers in 2020, disrupted by the COVID-19 pandemic, fell 26.7% year on year to ¥901.8 billion, below ¥1 trillion for the first time in 10 years. While orders from China showed momentum, exceeding the previous year's level and making China the only major overseas market to do so, the recovery in domestic capital investment remained delayed.」
Full-year 2020 machine tool orders fell 26.7% year on year to ¥901.8 billion, below ¥1 trillion for the first time in 10 years. Although December showed a recovery trend, the risk of sluggishness continued with numerical evidence, including the delayed recovery in domestic capital investment. - FY2021-Q2WorsenedAnnual report
「For machine tools, the Japan Machine Tool Builders' Association announced on 30 September that it had revised its 2020 order outlook, initially forecast at ¥1.2 trillion at the beginning of the year, to approximately ¥850 billion due to the COVID-19 pandemic. On 27 October, September orders were announced, showing signs of recovery: overseas orders turned positive for the first time in 2 years, led by China, where the economy was recovering relatively early. Overall, the year-on-year decline narrowed to 15%, but domestic orders continued to slump, falling 34% year on year.」
The 2020 machine tool order outlook was revised downward from ¥1.2 trillion to approximately ¥850 billion, further clarifying the deterioration in the capital investment environment. While there were signs of recovery in overseas orders, overall orders remained down 15% year on year and domestic orders down 34%. - FY2021-Q1WorsenedAnnual report
「For machine tools, orders compiled by the Japan Machine Tool Builders' Association in June 2020 showed a recovery trend from the previous month, but a sharp decline of 32% year on year continued. In addition, the cancellation of JIMTOF2020, one of the world's largest machine tool exhibitions scheduled for December, had already been announced, significantly restricting sales activities involving travel and the promotion of new technologies.」
Machine tool orders fell 32% year on year, and the capital investment environment remained sluggish. In addition, the cancellation of JIMTOF2020 resulted in an actual restriction on sales activities involving technology promotion. - FY2020WorsenedAnnual report
「The spread of the novel coronavirus has caused capital investment appetite in Japan and overseas to fall to an unprecedentedly severe level.」
The disclosure states that the spread of the novel coronavirus has caused capital investment appetite in Japan and overseas to fall to an unprecedentedly severe level. Separately, machine tool orders fell 35% year on year in fiscal 2019 and remained below the year-earlier level for the 18th consecutive month as of March 2020. The risk is quantified and has actually materialized. - FY2020-Q3WorsenedAnnual report
「Machine tool orders in December 2019 were negative for the 15th consecutive month. The full-year 2019 order total also fell substantially below the previous year's result, declining 32.3% year on year to approximately ¥1.2299 trillion, as uncertainty over the outlook in Japan and overseas cast a shadow, marking the first decline below the previous year's level in 3 years.」
Machine tool orders were negative for the 15th consecutive month, while full-year 2019 orders fell 32.3% year on year to approximately ¥1.2299 trillion, below the previous year's level for the first time in 3 years. The risk of sluggish capital investment has deteriorated with numerical evidence. - FY2020-Q2WorsenedAnnual report
「Technological innovation in automation and higher efficiency, symbolized by IoT, had supported strong machine tool demand in Japan and overseas in recent years. However, preliminary orders compiled by the Japan Machine Tool Builders' Association through September 2019 showed sharp declines of more than 30% year on year in both domestic and overseas orders, the first such decline since the Lehman shock. The 2019 order outlook was also revised downward to ¥1.25 trillion, down 31% year on year.」
Machine tool orders through September 2019 declined more than 30% year on year, and the 2019 order outlook was revised downward to ¥1.25 trillion, down 31% year on year, indicating that the risk of sluggish capital investment has deteriorated with numerical evidence. - FY2020-Q1WorsenedAnnual report
「Technological innovation in automation and higher efficiency, symbolized by IoT, had supported strong machine tool demand in Japan and overseas in recent years. However, orders compiled by the Japan Machine Tool Builders' Association for June 2019 were affected by an approximately 60% year-on-year decline in orders to China, which accounted for about 20% of overseas demand. Orders fell below the ¥100 billion monthly threshold for the first time in 32 months, since October 2016, declining 38% year on year to ¥98.9 billion.」
Against a backdrop including an approximately 60% decline in orders to China, machine tool orders fell below ¥100 billion for the first time in 32 months, declining 38% year on year to ¥98.9 billion. The risk of sluggish capital investment has deteriorated with numerical evidence. - FY2019MaterialisedAnnual report
「As order conditions for both woodworking and machine tools became increasingly challenging in the second half of the fiscal year, the Company assesses that issues and uncertainty remained regarding the start of the following fiscal year.」
Order conditions for woodworking and machine tools became increasingly challenging in the second half of the fiscal year, and the disclosure states that this emerged in the actual business environment as an issue and source of uncertainty for the following fiscal year. - FY2019-Q3MaterialisedAnnual report
「According to Japan Machine Tool Builders' Association statistics, domestic demand for machine tools remains firm, but overseas demand has begun to decline, and it will be necessary to assess future developments carefully.」
The decline in overseas demand for machine tools is described as a risk related to the capital investment environment that has emerged in the actual business environment. - FY2019-Q2WorsenedAnnual report
「Although domestic and overseas demand for machine tools remained at high levels, concerns also remain, including longer lead times for various machine components and developments in the Chinese economy.」
While domestic and overseas demand remained at high levels, the disclosure explicitly identifies longer lead times for various components and developments in the Chinese economy as future concerns, additionally indicating risk factors related to the capital investment environment. - FY2019-Q1MitigatedAnnual report
「For machine tools, preliminary actual orders compiled by the Japan Machine Tool Builders' Association for January-June 2018, announced on 10 July, reached a record ¥964.0 billion, up 26% from the same period of the previous year, and both domestic and overseas demand remained robust.」
Machine tool orders reached a record, up 26% from the same period of the previous year, indicating an improvement from the previous filing in the external environment related to sluggish capital investment. The Company describes an improvement in order trends, but does not explicitly state that the risk itself has disappeared. - FY2018MitigatedAnnual report
「The Japan Machine Tool Builders' Association announced that, as capital investment appetite in Japan and other countries moved onto an upward trend, its preliminary machine tool order figure for fiscal 2017 was ¥1.7803 trillion, or 138% of the previous fiscal year's level, updating the record high for the first time in 10 years. This was driven by strong external demand, particularly from China, as well as domestic demand for the automotive industry and semiconductor manufacturing equipment.」
Capital investment appetite in Japan and overseas moved onto an upward trend, and preliminary machine tool orders for fiscal 2017 reached a record ¥1.7803 trillion, or 138% of the previous fiscal year's level, indicating an improvement in the external environment. - FY2018-Q3MitigatedAnnual report
「The Japan Machine Tool Builders' Association announced that, as capital investment appetite in Japan and other countries moved onto an upward trend, its preliminary machine tool order figure for 2017 was ¥1.6455 trillion, or 131% of the previous year's level, setting a record high and updating the record for the first time in 10 years.」
Capital investment appetite in Japan and overseas moved onto an upward trend, and preliminary machine tool orders for 2017 reached a record ¥1.6455 trillion, or 131% of the previous year's level, indicating an improvement in the external environment. - FY2018-Q2MitigatedAnnual report
「The Japan Machine Tool Builders' Association made a substantial upward revision, forecasting that machine tool orders in 2017 would reach ¥1.55 trillion, up 24% year on year, partly due to stronger demand centered on exports to China and the United States.」
The machine tool order outlook was revised upward to ¥1.55 trillion, up 24% year on year, indicating an improvement from the previous filing in the external risk related to the subdued capital investment environment. - FY2018-Q1MitigatedAnnual report
「Machine tool orders compiled by the Japan Machine Tool Builders' Association in June also continued to increase year on year for the seventh consecutive month. Partly due to the effects of government economic measures, customer-related industries generally remained on a gradual recovery track.」
Machine tool orders continued to increase year on year for the seventh consecutive month, and the disclosure states that customer-related industries were on a gradual economic recovery track. It also explains that weak orders in the second half of the previous fiscal year had a delayed impact, causing lower revenue and a loss in the first quarter under review. - FY2017Update to annual order statisticsAnnual report
「Machine tool orders compiled by the Japan Machine Tool Builders' Association fell 7.9% year on year in fiscal 2016 to ¥1.2891 trillion, leaving capital investment trends across the manufacturing sector in a somewhat challenging environment.」
The annual data has been updated to show that machine tool orders fell 7.9% year on year in fiscal 2016, indicating the challenging capital investment environment. - FY2017-Q3WorsenedAnnual report
「Machine tool orders compiled by the Japan Machine Tool Builders' Association, an indicator of capital investment trends across the manufacturing sector, fell 15.6% year on year in 2016 to ¥1.25 trillion, marking the second consecutive annual decline. Overall, the sector remained in a challenging environment.」
Machine tool orders fell 15.6% year on year and declined for the second consecutive year, providing annual data showing the subdued capital investment environment. - FY2017-Q2WorsenedAnnual report
「Machine tool orders compiled by the Japan Machine Tool Builders' Association, which can also be regarded as an indicator of capital investment trends across the manufacturing sector, fell below the year-earlier level for the 14th consecutive month in September, leaving the economic outlook across industries subdued.」
The period during which machine tool orders remained below the year-earlier level extended from 11 consecutive months as of the first quarter to 14 consecutive months, indicating a worsening capital investment environment. - FY2017-Q1MaterialisedAnnual report
「The June value of machine tool orders compiled by the Japan Machine Tool Builders' Association, which can also be regarded as an indicator of capital investment trends across the manufacturing sector, fell below the year-earlier level for the 11th consecutive month, making the economic outlook increasingly uncertain.」
Machine tool orders fell below the year-earlier level for the 11th consecutive month, and the Company recorded its first year-on-year declines in revenue and profit in 3 years, indicating that the risk of sluggish capital investment is evident in the actual business environment and performance. - FY2016First statedAnnual report
「When these factors cause personal consumption to stagnate, they may have a significant adverse effect on capital investment trends and, as a result, cause the Company's performance to fall below plan.」
Sluggish personal consumption and capital investment through economic conditions, taxation, policy and international developments are cited as factors that could cause performance to fall below plan.