High dependence on the mature railway rolling stock industry and demand fluctuations
First written in FY2016. 26 of 30 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026RestatedAnnual report
「The rolling stock industry in which the Group specializes has matured. Domestic and overseas replacement demand for rolling stock, fluctuations in demand from new-line construction and other factors, and the fact that orders received by overseas subsidiaries are limited to railway-related business may significantly affect the Group's performance depending on industry trends.」
Continues to carry the risks associated with the mature rolling stock industry, domestic and overseas fluctuations in demand, and the limitation of overseas subsidiaries' orders to railway-related business. - 2026-05-15ReframedResults
「Meanwhile, prices continued to rise across a broad range of goods due to higher labour and logistics costs caused by labour shortages, US trade policy, and the continuing depreciation of the yen. In addition, the business environment remained uncertain due to heightened geopolitical risks, including the prolonged Russian invasion of Ukraine and conditions in the Middle East.」
従来の需要・業界依存に加え、米国の通商政策、円安、物価上昇、地政学リスクを経営環境の不透明要因として記載している。 - FY2026-H1RestatedAnnual report
「The filing states that, during the interim consolidated accounting period, there were no material changes in the major risks that management recognizes could materially affect the consolidated companies' financial position, operating results or cash flows, or in the matters described under Business Risks in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks or to the business and other risks for the previous fiscal year. - FY2025-H1RestatedAnnual report
「The filing states that, during the interim consolidated accounting period, there were no material changes in the major risks that management recognizes could materially affect the consolidated companies' financial position, operating results or cash flows, or in the matters described under Business Risks in the securities report for the previous fiscal year.」
It states that there were no occurrences of major risks or material changes to the risks related to the business from the previous fiscal year. - FY2024ReframedAnnual report
「The rolling stock industry in which the Group specializes has matured. Domestic and overseas replacement demand for rolling stock, fluctuations in demand from new-line construction and other factors, and the fact that orders received by overseas subsidiaries are limited to railway-related business may significantly affect the Group's performance depending on industry trends.」
Explicitly identifies the concentration of business scope arising from the fact that orders received by overseas subsidiaries are limited to railway-related business, in addition to the existing risks associated with the mature rolling stock industry and fluctuations in demand. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
States that there have been no material changes in the occurrence of major risks or in business and other risks from the previous fiscal year, and continues to address, as before, the risks associated with dependence on the mature rolling stock industry and fluctuations in demand. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks or to the business and other risks for the previous fiscal year. - FY2024-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes in the occurrence of major risks or in business and other risks from the previous fiscal year, and continues to address, as before, the risks associated with dependence on the mature rolling stock industry and fluctuations in demand. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
States that there have been no material changes in the occurrence of major risks or in business and other risks from the previous fiscal year, and continues to carry, as before, the risks associated with dependence on the mature rolling stock industry and fluctuations in demand. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that there were no occurrences of major risks or material changes to the risks related to the business from the previous fiscal year. - FY2023-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
It states that there were no occurrences of major risks or material changes to the risks related to the business from the previous fiscal year. - FY2022RestatedAnnual report
「The rolling stock industry, which is the Group's main business, is a mature industry. Domestic and overseas replacement demand for rolling stock and fluctuations in demand from new-line construction and other factors, as well as the limited number of customers of its overseas subsidiaries, may significantly affect the Group's performance.」
Continues to disclose the risks associated with the mature rolling stock industry, domestic and overseas fluctuations in demand, and the limited number of customers of its overseas subsidiaries. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
States that there have been no material changes in the occurrence of major risks or in business and other risks from the previous fiscal year, and continues to carry, as before, the risks associated with dependence on the mature rolling stock industry and fluctuations in demand. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that there were no occurrences of major risks or material changes to the risks related to the business from the previous fiscal year. - FY2022-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks or to the business and other risks for the previous fiscal year. - FY2021WorsenedAnnual report
「The rolling stock industry, which is the Group's main business, is a mature industry. Domestic and overseas replacement demand for rolling stock and fluctuations in demand from new-line construction and other factors, as well as the limited number of customers of its overseas subsidiaries, may significantly affect the Group's performance.」
Explicitly identified the limited number of customers of its overseas subsidiaries as a risk, in addition to the existing risks associated with dependence on the mature rolling stock industry and fluctuations in demand. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks or to the business and other risks for the previous fiscal year. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that there were no occurrences of major risks or material changes to the risks related to the business from the previous fiscal year. - FY2021-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
It states that there were no occurrences of major risks or material changes to the risks related to the business from the previous fiscal year. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
States that there have been no material changes in business and other risks and continues to carry, as before, the risks associated with dependence on the mature rolling stock industry and fluctuations in demand. - FY2020-Q2RestatedAnnual report
「Because we primarily operate on a made-to-order basis, our core railway-related business is significantly affected by replacement and new demand for rolling stock in Japan and overseas.」
Continues to disclose the structural exposure of its primarily order-based railway business to domestic and overseas demand for rolling stock. States that there have been no material changes in business and other risks. - FY2019RestatedAnnual report
「The rolling stock industry, which is the main focus of the Group, is a mature industry, and domestic and overseas replacement demand for rolling stock, as well as fluctuations in demand from new-line construction and other factors, may significantly affect the Group's performance.」
Continues to carry the risk that dependence on the mature rolling stock industry and fluctuations in demand from replacement demand, new-line construction and other factors may affect performance. - FY2018RestatedAnnual report
「The railway rolling stock industry, which is the main industry served by our group, is mature, and fluctuations in demand for replacement rolling stock in Japan and overseas and for the construction of new railway lines could materially affect our group's business performance.」
Continues to disclose the risks arising from dependence on the mature rolling stock industry and fluctuations in demand, including replacement demand and new-line construction, affecting performance. - FY2018-Q3RestatedAnnual report
「Because we primarily operate on a made-to-order basis, our core railway-related business is significantly affected by replacement and new demand for rolling stock in Japan and overseas.」
Continues to disclose the structural exposure of its primarily order-based railway business to domestic and overseas replacement and new demand for rolling stock. - FY2018-Q2RestatedAnnual report
「Because we primarily operate on a made-to-order basis, our core railway-related business is significantly affected by replacement and new demand for rolling stock in Japan and overseas.」
Continues to disclose the structural exposure of its primarily order-based railway business to domestic and overseas replacement and new demand for rolling stock. - FY2017RestatedAnnual report
「The railway rolling stock industry, which is the main industry served by our group, is mature, and fluctuations in demand for replacement rolling stock in Japan and overseas and for the construction of new railway lines could materially affect our group's business performance.」
Continues to disclose the risk that fluctuations in demand, including replacement demand in Japan and overseas and new-line construction, may affect performance in the mature rolling stock industry. - FY2017-Q3RestatedAnnual report
「Because we primarily operate on a made-to-order basis, our core railway-related business is significantly affected by replacement and new demand for rolling stock in Japan and overseas.」
The company continues to explain that its made-to-order railway-related business is structurally highly dependent on domestic and overseas demand for rolling stock. - FY2017-Q2RestatedAnnual report
「Because we primarily operate on a made-to-order basis, our core railway-related business is significantly affected by replacement and new demand for rolling stock in Japan and overseas.」
The company continues to explain that its made-to-order railway-related business is structurally highly dependent on domestic and overseas demand for rolling stock. - FY2017-Q1RestatedAnnual report
「Because we primarily operate on a made-to-order basis, our core railway-related business is significantly affected by replacement and new demand for rolling stock in Japan and overseas.」
The company continues to explain that its railway-related business is structurally highly dependent on domestic and overseas demand for rolling stock. It also states in its quarterly report that there have been no material changes to its business and other risks. - FY2016First statedAnnual report
「The railway rolling stock industry, which is the main industry served by our group, is mature, and fluctuations in demand for replacement rolling stock in Japan and overseas and for the construction of new railway lines could materially affect our group's business performance.」
The company views its core market as a mature industry and identifies fluctuations in replacement demand and new railway construction as key risks that could affect business performance.