Resilient Replacement Demand for Domestic Railway Rolling Stock
First written in FY2020-Q2. 8 of 21 entries say "Advanced", first in FY2024-Q1. Latest entry: 2026-10-14.
The whole theme swung hardest in 2019: 1 of 7 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- 2026-10-14RestatedEarnings
「国内では、鉄道事業者の好調な業績を背景に、サービスの拡充や、持続可能な鉄道インフラの実現に向けたGX・DX対応、省力化を目的とした車両投資が活発であり、新造車用製品や機器更新の受注が増加しております。」
国内鉄道事業者の車両投資活発化と新造車用製品・機器更新の受注増加を再掲している。 - FY2026AdvancedAnnual report
「In Japan, investment in railway vehicles by railway operators is active as the number of railway users increases with the recovery in inbound tourism and other factors, and orders for products for newly built vehicles and equipment renewal are increasing.」
Orders for products for new-build vehicles and equipment renewals continue to increase as domestic railway ridership recovers and railway operators step up investment. - FY2026-H1AdvancedAnnual report
「In Japan, investment in railway vehicles by railway operators is active as the number of railway users increases with the recovery in inbound tourism and other factors, and orders for products for newly built vehicles and equipment renewal are increasing.」
Against the backdrop of recovering inbound demand and increased railway ridership, domestic railway operators have become more active in investing in rolling stock, resulting in increased orders for products for new-build vehicles and equipment renewals. - FY2025AdvancedAnnual report
「In Japan, orders for products for new-build vehicles and equipment renewals remained firm as railway operators accelerated previously restrained investment in response to increased railway ridership driven by the recovery in inbound demand and other factors.」
Against the backdrop of recovering passenger flows and inbound demand, demand from domestic railway operators for products for new-build vehicles and equipment renewals remained firm, contributing to increased revenue and profit in the transportation business. - FY2025-H1AdvancedAnnual report
「In Japan, orders for products for new-build vehicles and equipment renewals remained firm as railway operators accelerated previously restrained investment in response to increased railway ridership driven by the recovery in inbound demand and other factors.」
Against the backdrop of recovering inbound demand and increased railway ridership, orders from domestic railway operators for products for new-build vehicles and equipment renewals remain firm. - FY2024AdvancedAnnual report
「Demand recovery from the impact of COVID-19 progressed, and inbound demand remained strong, resulting in a recovery in the earnings of domestic railway operators and increased orders, mainly from private railway operators, for new-build vehicles and equipment renewals.」
Against the backdrop of recovering passenger flows and inbound demand, demand for new-build vehicles and equipment renewals among domestic railway operators increased. Orders for maintenance parts for high-speed railways are also increasing in China. - FY2024-Q2AdvancedAnnual report
「Following the reclassification of COVID-19 as a Class 5 infectious disease, domestic railway operators' earnings recovered as passenger flows recovered and inbound demand increased, leading to an increase in new-build vehicle production and equipment renewals that had been restrained. In China, orders for maintenance parts for urban transport are also increasing.」
Against the backdrop of recovering earnings at domestic railway operators, restrained new-build vehicle production and equipment renewals increased. It also states that orders for maintenance parts for urban transport are increasing in China. - FY2024-Q1AdvancedAnnual report
「As domestic railway operators' earnings recover, new-build vehicle production and equipment renewals, which had been restrained, are increasing. In China, orders for maintenance parts for urban transport are also increasing.」
Against the backdrop of recovering earnings at domestic railway operators, demand for new-build vehicles and equipment renewals continues to increase. It also states that orders for maintenance parts for urban transport are increasing in China. - FY2023Demand recovery and sales deferrals due to component shortages coexistAnnual report
「As domestic railway operators' earnings recover, demand for new-build vehicles and equipment renewals, which had been restrained, is increasing.」
While noting increased demand for new-build vehicles and equipment renewals as railway operators' earnings recover, it states that the impact on sales is continuing due to prolonged difficulty in procuring components. - FY2023-Q2Demand recovery and project deferrals due to component shortages coexistAnnual report
「As railway passenger numbers recover and railway operators' earnings improve, demand for new-build vehicles and equipment renewals, which had been restrained, is increasing. At the same time, component shortages, particularly semiconductor shortages, have resulted in delays to scheduled sales projects.」
Demand for new-build vehicles and equipment renewals is increasing as railway passenger numbers recover and railway operators' earnings improve, while component shortages have also led to delays in scheduled sales projects. - FY2023-Q1Passenger numbers recover to 70%, while demand for new-build vehicles and equipment renewals increasesAnnual report
「Railway passenger numbers are gradually recovering to approximately 70% of pre-pandemic levels, but there is no clear prospect of a return to those levels, partly because the number of regular passengers remains depressed due to teleworking.」
It states that passenger numbers have recovered to approximately 70% of pre-pandemic levels, while railway operators' demand for new-build vehicles and equipment renewals is increasing as passenger numbers recover. - FY2022-Q3Delayed passenger recovery and continued increase in equipment renewalAnnual report
「Although declines in passenger numbers and delays in improving profitability at railway operators have led to reviews of new railcar construction plans, equipment renewal aimed at extending the use of existing railcars continues to increase, particularly among private railway operators.」
Declining passenger numbers and delays in improving profitability have led to continued reviews of new railcar construction plans, while equipment renewal aimed at extending the use of existing railcars has increased, particularly among private railway operators. - FY2022-Q2Review of new railcar construction plans and increase in equipment renewalAnnual report
「As railway operators' operating revenue declined due to COVID-19, some reviewed their new railcar construction plans. On the other hand, equipment renewal aimed at extending the use of existing railcars increased, particularly among private railway operators.」
While declining operating revenue among railway operators has led to continued reviews of new railcar construction plans, equipment renewal to extend the use of existing railcars has increased. - FY2022-Q1Some shift from new railcar construction to aging-equipment renewalAnnual report
「Some customers have begun increasing equipment renewal in response to aging equipment instead of building new railcars.」
The company states that, in addition to conventional demand for new-build and replacement railcars, equipment renewal to replace new railcar construction has increased in some areas. - FY2021RestatedAnnual report
「Some railway operators reviewed or postponed plans for new-build and replacement railcars, while some manufacturers reviewed or postponed plans to renew their equipment.」
The company states that postponement of domestic new-build and replacement railcar plans continued throughout the fiscal year due to the impact of the infectious disease. - FY2021-Q3Postponement of new-build and replacement railcar plans continuesAnnual report
「The impact of COVID-19 has led some railway operators to postpone plans for new-build and replacement railcars, which has mainly affected orders received.」
The company continues to report that some domestic new-build and replacement railcar plans have been postponed due to the impact of the infectious disease, affecting orders received. - FY2021-Q1Review and postponement of railcar plansAnnual report
「Some railway operators reviewed or postponed plans for new-build and replacement railcars, while some manufacturers reviewed or postponed plans to renew their equipment.」
Compared with the previously reported firmness of domestic demand for replacement railcars, the company states that some new-build and replacement plans were reviewed or postponed during the current quarter. - FY2020-Q3Firm domestic demand, but China's recovery remains uncertainAnnual report
「In the transportation business, domestic demand for replacement railway rolling stock remains firm, while demand in China, despite uncertainty about the outlook, is on a gradual recovery trend.」
The company notes both the continued firmness of domestic demand for replacement railcars and the gradual recovery trend and uncertain outlook for demand in China. - FY2020-Q2First statedAnnual report
「In the transportation business, domestic demand for replacement railcars remains firm, while demand in China is also showing a gradual recovery trend.」
The company describes the business environment for its transportation business as one in which domestic demand for replacement railcars remains firm and demand in China is gradually recovering.