Sluggish Southeast Asian demand due to an economic slowdown in emerging markets and stagnant infrastructure investment
First written in FY2017-Q1. 9 of 36 entries say "Restated". Latest entry: 2026-08-07.
The whole theme swung hardest in 2019: 17 of 38 companies on the "Worse" side.
1 other company's latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Domestic demand in the ASEAN countries remained stable, and infrastructure demand increased in each country. In addition, orders for Smash pumps expanded in the equipment market as well as in the livestock and other markets, resulting in higher revenue. As a result, revenue was ¥17,290 million, up ¥1,616 million, or 10.3%, from the previous fiscal year.」
Stable and growing domestic ASEAN and infrastructure demand, together with increased orders for Smash pumps, resulted in a 10.3% increase in revenue and a 7.4% increase in profit in Asia. - 2026-05-12AdvancedRevisions to earnings forecasts
「アジア地域におきましては、引き続きASEAN諸国の内需は安定しており、インフラ需要も各国で増大しております。また、スマッシュポンプの受注が設備市場のほか畜産市場等においても拡大したことにより、売上高は増加しました。」
ASEAN内需・インフラ需要の安定に加え、スマッシュポンプの受注先が設備市場から畜産市場等へ広がり、アジアは増収増益となった。 - FY2026-H1Resilient ASEAN demand alongside declining profitAnnual report
「Domestic demand in the ASEAN countries remained stable, and demand for equipment-market products in Thailand and Vietnam also remained firm, but revenue was broadly flat. As a result, revenue was ¥8,132 million, up ¥253 million, or 3.2%, from the previous interim period, while segment profit was ¥856 million, down ¥122 million, or 12.5%.」
While domestic ASEAN demand and equipment-market demand in Thailand and Vietnam remained firm, revenue was broadly flat and segment profit declined 12.5%. - FY2025AdvancedAnnual report
「Domestic demand in the ASEAN countries remained stable, and demand for equipment products in Thailand and Indonesia remained firm, resulting in higher overall revenue. As a result, revenue was ¥15,674 million, up ¥3,073 million, or 24.4%, from the previous fiscal year.」
Firm demand for equipment products in Thailand and Indonesia resulted in a 24.4% increase in revenue and a 97.6% increase in profit in Asia, representing a further improvement from the previous period's slowdown in demand growth. - FY2025-H1MitigatedAnnual report
「In Asia, demand for equipment products in Thailand remained firm, while infrastructure demand in Hong Kong also continued to be solid, resulting in higher revenue. As a result, revenue was ¥7,879 million, up ¥1,561 million, or 24.7%, from the same interim period of the previous year, while segment profit was ¥979 million, up ¥462 million, or 89.4%.」
Firm demand for equipment products in Thailand and infrastructure demand in Hong Kong resulted in a 24.7% increase in revenue and an 89.4% increase in profit in Asia, an improvement from the previous period's slowdown in demand growth. - FY2024-Q3WorsenedAnnual report
「In Asia, the infrastructure market remained strong in Hong Kong and elsewhere, but overall growth in demand continued to level off, and revenue declined. As a result, revenue was ¥9,023 million, down ¥2,657 million, or 22.8%, from the same period of the previous year, while segment profit was ¥707 million, down ¥561 million, or 44.3%.」
Although some markets, including Hong Kong, remained strong, the levelling-off in demand growth across Asia continued, with the revenue decline widening to 22.8% and the profit decline widening to 44.3%. - FY2024-Q2WorsenedAnnual report
「In Asia, the infrastructure market remained strong in Hong Kong and elsewhere, but overall growth in demand began to level off, and revenue declined. As a result, revenue was ¥6,318 million, down ¥1,646 million, or 20.7%, from the same period of the previous year, while segment profit was ¥516 million, down ¥441 million, or 46.1%.」
Although some infrastructure markets, including Hong Kong, remained strong, growth in demand across Asia levelled off, resulting in a 20.7% decline in revenue and a 46.1% decline in profit. - FY2024-Q1WorsenedAnnual report
「In Asia, orders continued to grow steadily in Hong Kong and Thailand, particularly in the construction and equipment markets. Overall, however, growth in demand in the infrastructure market began to level off, and revenue declined. As a result, revenue was ¥3,239 million, down ¥620 million, or 16.1%, from the same period of the previous year, while segment profit was ¥248 million, down ¥238 million, or 49.0%.」
Although orders increased in Hong Kong and Thailand, growth in infrastructure-market demand across Asia levelled off, resulting in a 16.1% decline in revenue and a 49.0% decline in profit. Conditions have deteriorated from the previous trend of recovering and expanding demand. - FY2023AdvancedAnnual report
「In Asia, as COVID-19 showed signs of subsiding, the infrastructure equipment market was becoming more active. Orders in the construction and equipment markets, particularly in Hong Kong and Singapore, as well as orders in Taiwan's equipment market, remained strong. Revenue also benefited from changes in the scope of consolidation. As a result, revenue was ¥14,490 million, up ¥5,150 million, or 55.2%, from the previous fiscal year.」
Against a backdrop of COVID-19 showing signs of subsiding, the infrastructure equipment market and orders in Asia remained strong, resulting in a 55.2% increase in revenue, including the impact of changes in the scope of consolidation. - FY2023-Q3AdvancedAnnual report
「In Southeast Asia, demand in the infrastructure equipment market continued to increase as COVID-19 showed signs of subsiding. Orders in the construction and equipment markets, particularly in Hong Kong and Singapore, as well as orders in Taiwan's equipment market, remained strong. Revenue also benefited from changes in the scope of consolidation. As a result, revenue was ¥11,680 million, up ¥4,866 million, or 71.4%, from the same period of the previous year, while segment profit was ¥1,269 million, up ¥624 million, or 97.0%.」
Against a backdrop of COVID-19 showing signs of subsiding, infrastructure equipment demand and orders in Southeast Asia remained strong, and revenue increased 71.4% and segment profit increased 97.0%, including the impact of changes in the scope of consolidation. - FY2023-Q2AdvancedAnnual report
「In Southeast Asia, demand in the infrastructure equipment market continued to increase as COVID-19 showed signs of subsiding. Orders in the construction and equipment markets, particularly in Hong Kong and Singapore, as well as orders in Taiwan's equipment market, remained strong. Revenue also benefited from changes in the scope of consolidation. As a result, revenue was ¥7,964 million, up ¥3,732 million, or 88.2%, from the same period of the previous year, while segment profit was ¥958 million, up ¥565 million, or 144.1%.」
Against a backdrop of COVID-19 showing signs of subsiding, demand in the infrastructure equipment market and orders remained strong, resulting in an 88.2% increase in revenue and a 144.1% increase in profit, including the impact of changes in the scope of consolidation. - FY2023-Q1AdvancedAnnual report
「In Southeast Asia, activity in the infrastructure equipment market continued to increase. Orders in the construction and equipment markets, particularly in Hong Kong and Singapore, as well as orders in Taiwan's equipment market, remained strong. Revenue also benefited from changes in the scope of consolidation. As a result, revenue was ¥3,859 million, up ¥1,911 million, or 98.1%, from the same period of the previous year, while segment profit was ¥486 million, up ¥287 million, or 144.1%.」
In Southeast Asia, revenue increased 98.1% and segment profit increased 144.1%, reflecting stronger activity and orders in the infrastructure equipment market as well as the impact of changes in the scope of consolidation. - FY2022-Q3AdvancedAnnual report
「In Southeast Asia, although the spread of COVID-19 continued in some areas, inquiries for infrastructure projects and other items were generally recovering, and revenue increased in Hong Kong, Singapore and Taiwan. As a result, revenue was ¥6,814 million, up ¥2,454 million, or 56.3%, from the same period of the previous year, while segment profit was ¥644 million, up ¥331 million, or 106.1%.」
Although the spread of COVID-19 continued in some areas, inquiries for infrastructure projects and other items generally recovered in Southeast Asia, resulting in a 56.3% increase in revenue and a 106.1% increase in profit. - FY2022-Q2MitigatedAnnual report
「In Southeast Asia, some areas continued to experience the spread of COVID-19, and the equipment market, including building facilities and water treatment, remained challenging. However, demand for pumps showed signs of recovery as infrastructure projects resumed, and revenue increased in Hong Kong, Singapore and Taiwan. As a result, revenue was ¥4,232 million, up ¥1,340 million, or 46.4%, from the same period of the previous year, while segment profit was ¥392 million, up ¥184 million, or 88.7%.」
Despite continued challenges in the equipment market, the resumption of infrastructure projects and recovery in pump demand resulted in a 46.4% increase in revenue and an 88.7% increase in profit. - FY2022-Q1Recovery in construction orders coexisted with weakness in the equipment marketAnnual report
「In Southeast Asia, the impact of COVID-19 on economic activity remained substantial, and the equipment market, including infrastructure projects, continued to face difficult conditions. However, revenue increased as construction orders recovered substantially. As a result, revenue was ¥1,948 million, up ¥580 million, or 42.4%, from the same cumulative period of the previous fiscal year, while segment profit was ¥199 million, up ¥100 million, or 101.4%.」
In Southeast Asia, although the equipment market remained challenging due to the impact of infectious diseases, orders in the construction market recovered substantially, resulting in a 42.4% increase in revenue and a 101.4% increase in profit. - FY2021RestatedAnnual report
「In Southeast Asia, revenue declined as demand for infrastructure projects, particularly in the building-equipment market, remained sluggish due to the impact of COVID-19.」
In Southeast Asia, weak demand for infrastructure projects due to the impact of COVID-19 continued, and revenue declined 1.0%. - FY2021-Q3RestatedAnnual report
「In Southeast Asia, demand in the equipment market, including infrastructure projects, remained sluggish due to the impact of COVID-19, and revenue declined. As a result, revenue was ¥4,360 million, down ¥572 million, or 11.6%, from the same cumulative period of the previous fiscal year, while segment profit was ¥312 million, down ¥82 million, or 20.9%.」
In Southeast Asia, weak demand in the equipment market, including infrastructure projects, continued due to the impact of COVID-19, resulting in revenue declining 11.6% and profit declining 20.9%. - FY2021-Q2RestatedAnnual report
「In Southeast Asia, demand in the construction and equipment markets, including infrastructure projects, remained sluggish due to the impact of COVID-19, and revenue declined.」
Weak demand in Southeast Asia’s construction and equipment markets due to COVID-19 continued, resulting in revenue declining 12.3% and segment profit declining 30.5%. - FY2021-Q1WorsenedAnnual report
「In Southeast Asia, revenue declined due in part to a substantial decrease in orders in the equipment market, including infrastructure projects, as a result of the impact of COVID-19. As a result, revenue was ¥1,367 million, down ¥264 million, or 16.2%, from the same cumulative period of the previous fiscal year, while segment profit was ¥99 million, down ¥55 million, or 35.8%.」
In Southeast Asia, orders in the equipment market, including infrastructure, which had previously been trending upward, declined substantially due to the impact of COVID-19, resulting in revenue declining 16.2% and profit declining 35.8%. - FY2020Higher orders coexisted with full-year profit declines due to the stronger yenAnnual report
「In Southeast Asia, orders increased in the equipment market, including infrastructure projects, but overall revenue was flat due in part to the impact of the stronger yen. As a result, revenue was ¥6,235 million, down ¥39 million, or 0.6%, from the previous fiscal year, while segment profit was ¥456 million, down ¥91 million, or 16.7%.」
Although orders in the equipment market, including infrastructure, continued to increase, full-year revenue declined 0.6% and segment profit declined 16.7% due to the impact of the stronger yen. - FY2020-Q3Higher orders coexisted with lower profitAnnual report
「In Southeast Asia, revenue increased due in part to higher orders in the equipment market, including infrastructure projects. As a result, revenue was ¥4,932 million, up ¥370 million, or 8.1%, from the same cumulative period of the previous fiscal year, while segment profit was ¥394 million, down ¥19 million, or 4.6%.」
Revenue increased 8.1% due to higher orders in the equipment market, including infrastructure projects, while segment profit declined 4.6%, with higher orders and revenue coexisting with lower profit. - FY2020-Q2Higher orders coexisted with the impact of a stronger yenAnnual report
「In Southeast Asia, orders increased in the equipment market, including infrastructure projects, in Singapore, but revenue was flat due in part to the impact of the stronger yen. As a result, revenue was ¥3,297 million, up ¥160 million, or 5.1%, from the same cumulative period of the previous fiscal year, while segment profit was ¥299 million, up ¥15 million, or 5.4%.」
Although orders increased in the equipment market, including infrastructure projects, revenue was described as flat due to the impact of the stronger yen, with higher orders coexisting with foreign-exchange effects. - FY2020-Q1MitigatedAnnual report
「In Southeast Asia, revenue increased due to higher orders in the equipment market, including infrastructure projects. As a result, revenue was ¥1,632 million, up ¥262 million, or 19.2%, from the same cumulative period of the previous fiscal year, while segment profit was ¥154 million, up ¥43 million, or 39.4%.」
In Southeast Asia, higher orders in the equipment market, including infrastructure projects, resulted in revenue growth of 19.2% and segment profit growth of 39.4%, indicating a trend offsetting the previous uncertainty and divergent demand. - FY2019Changes in demand mixAnnual report
「In Southeast Asia, demand for construction pumps declined in the Hong Kong and Singapore markets, but overall revenue increased due to orders for infrastructure projects and in the equipment market.」
The decline in construction pump demand coexisted with higher overall revenue from infrastructure projects and equipment-market orders, highlighting divergent demand within Southeast Asia. - FY2019-Q3RestatedAnnual report
「In Southeast Asia, revenue increased as orders for infrastructure projects continued to trend upward, despite persistent uncertainty in emerging-market conditions. As a result, revenue was ¥4,562 million, up ¥266 million, or 6.2%, from the same cumulative period of the previous fiscal year, while segment profit was ¥413 million, up ¥83 million, or 25.2%.」
Although uncertainty in emerging-market conditions remained, revenue increased 6.2% and segment profit increased 25.2% due to the upward trend in orders for infrastructure projects. - FY2019-Q2MitigatedAnnual report
「In Southeast Asia, revenue increased as demand for infrastructure construction continued to trend upward, despite persistent uncertainty in emerging-market conditions. As a result, revenue was ¥3,136 million, up ¥370 million, or 13.4%, from the same cumulative period of the previous fiscal year, while segment profit was ¥283 million, up ¥74 million, or 35.8%.」
Although uncertainty in emerging-market conditions remained, revenue increased 13.4% and segment profit increased 35.8% due to the upward trend in infrastructure construction demand. - FY2019-Q1RestatedAnnual report
「In Southeast Asia, revenue was at the same level as the previous year, as pump demand showed signs of recovery in Singapore and elsewhere, although market conditions in emerging economies remained uncertain.」
In Southeast Asia, pump demand showed signs of recovery, while uncertainty in emerging-market conditions remained, leaving revenue at approximately the previous year’s level. The coexistence of recovery and uncertainty has continued. - FY2018RestatedAnnual report
「In Southeast Asia, revenue increased due to higher sales of equipment products and orders for infrastructure projects in Singapore, although market conditions in emerging economies remained uncertain and sales of construction projects remained sluggish.」
While equipment products and Singapore infrastructure projects provided support, uncertainty in emerging-market conditions and sluggish sales of construction projects persisted on a full-year basis, with divergent demand conditions continuing. - FY2018-Q3Diverging demand trendsAnnual report
「In Southeast Asia, revenue increased due to higher sales of equipment products and orders for government projects in Singapore, although sales of construction projects remained sluggish. As a result, revenue was ¥4,295 million, up ¥303 million, or 7.6%, from the same cumulative period of the previous fiscal year, while segment profit was ¥330 million, up ¥3 million, or 1.1%.」
Overall revenue and profit increased due to sales of equipment products and orders for Singapore government projects, while sluggish sales of construction projects persisted, indicating divergent demand conditions. - FY2018-Q2MitigatedAnnual report
「In Southeast Asia, revenue increased as sales in the equipment and water-treatment markets, including Singapore, remained firm despite uncertainty. As a result, revenue was ¥2,766 million, up ¥539 million, or 24.2%, from the same cumulative period of the previous fiscal year, while segment profit was ¥209 million, up ¥47 million, or 29.6%.」
Although uncertainty remained, the equipment and water-treatment markets in Southeast Asia remained firm, resulting in revenue growth of 24.2% and segment profit growth of 29.6%. - FY2018-Q1MitigatedAnnual report
「In Southeast Asia, revenue increased as a gradual economic recovery was seen, particularly in Singapore, despite remaining uncertainty.」
Although uncertainty remained, a gradual economic recovery and higher revenue were reported in Southeast Asia, indicating an improvement from the previous weakness in demand. - FY2017-Q3RestatedAnnual report
「In Southeast Asia, revenue continued to decline as sluggish infrastructure investment, due to factors including the slowdown in emerging-market economies, continued to affect pump demand.」
Weak Southeast Asian pump demand and declining revenue due to the slowdown in emerging-market economies and sluggish infrastructure investment have continued. - FY2017-Q2RestatedAnnual report
「In Southeast Asia, revenue declined as sluggish infrastructure investment, due to factors including the slowdown in emerging-market economies, affected pump demand.」
In Southeast Asia, weak demand due to the slowdown in emerging-market economies and sluggish infrastructure investment has continued. - FY2017-Q1First statedAnnual report
「In Southeast Asia, revenue declined as sluggish infrastructure investment, due to factors including the slowdown in emerging-market economies, affected pump demand. As a result, revenue was ¥1,033 million, down ¥677 million, or 39.6%, from the same cumulative period of the previous fiscal year, while segment profit was ¥76 million, down ¥106 million, or 58.1%.」
The slowdown in emerging-market economies and sluggish infrastructure investment have become apparent in demand and performance in the Southeast Asian business.