Weak demand for shipbuilding and construction machinery

「As of the end of September 2025, the order backlog had decreased from the previous interim consolidated accounting period. Overall, however, demand remained high, with demand for bulk carriers and tankers particularly strong, while demand for container ships, which had temporarily leveled off, also increased.」

「Strong shipping market conditions, driven by longer shipping routes resulting from the worsening situation in the Middle East and demand boosted by tight vessel supply and demand, brought backlog as of 31 March 2025 to 29.38 million gross tons, up 6.3% year on year.」

「Against a backdrop of expanding maritime cargo movements and strong newbuilding demand, backlog as of 30 September 2024 increased from the previous interim consolidated accounting period.」

「Japan's export vessel backlog as of 31 March 2024 increased to 27.63 million gross tons from the previous fiscal year-end. Sales increased from the previous fiscal year, driven by stronger demand for large vessels such as container ships, higher orders from continued customer development in China, and increased service-parts orders as the market recovered from the pandemic.」

「Backlog as of 31 December 2023 increased to 27.09 million gross tons from the end of the same quarter of the previous year. Sales increased from the same quarter of the previous year, driven by stronger demand for large vessels such as container ships, higher orders from continued customer development in China, and strong service-parts sales as the market recovered from the pandemic. In the construction machinery and other fields, sales increased substantially from the same quarter of the previous year, supported by solid demand for mining machinery and increased orders for bearings for medium- and high-speed engines used in generators and other equipment.」

「The order backlog as of the end of September 2023 stood at 22.19 million gross tons, a slight increase from the end of the same quarter of the previous year. Sales rose sharply from the same quarter of the previous year, driven by rising demand for large vessels such as container ships, increased orders from continued new customer development in China, and strong sales of service parts as the market recovered from the COVID-19 pandemic.」

「The order backlog as of the end of June 2023 stood at 22.34 million gross tons, a slight increase from the end of the same quarter of the previous year. Sales increased from the same quarter of the previous year, supported by higher demand for engines capable of operating on either liquid or gas fuel in response to decarbonization, and strong sales of service parts as the market recovered from the COVID-19 pandemic.」

「The order backlog as of the end of December 2022 stood at 21.73 million gross tons, up from the end of the same quarter of the previous year. Sales rose sharply from the same quarter of the previous year, driven by increased maritime cargo movements accompanying the recovery of the global economy, continued strong maintenance demand, and improved order conditions and share gains from new customer development, including for LNG carriers (tankers that transport liquefied natural gas).」

「Backlog as of 30 September 2022 increased from the end of the same quarter of the previous year. Sales increased substantially from the same quarter of the previous year as maritime cargo movements increased with the recovery of the global economy, maintenance demand remained strong, and the order environment improved for LNG carriers and other vessels. Market share also increased through new customer development. In the construction machinery field, demand remained strong mainly in North America, Central and South America, and Southeast Asia, including Indonesia, and demand for service parts also remained firm, contributing to higher Group sales from the same quarter of the previous year.」

「The order backlog as of the end of June 2022 increased from the end of the same quarter of the previous year. Sales rose sharply from the same quarter of the previous year, driven by increased maritime cargo movements accompanying the recovery of the global economy, a trend toward higher maintenance demand, and improved order conditions and share gains from new customer development, including for LNG carriers (tankers that transport liquefied natural gas).」

「Backlog as of 31 December 2021 increased from the end of the same period of the previous year. Maritime cargo movements increased as the global economy recovered, maintenance demand continued to trend upward, and demand also grew for large container ships, LCG vessels and other vessels, sustaining the improvement in the order environment. Sales increased from the same quarter of the previous year, supported by strong growth in orders from new customers in China and South Korea. In the construction machinery field, demand continued to recover from the effects of COVID-19, and higher demand for service parts also contributed to a substantial increase in the Group's sales from the same quarter of the previous year.」

「The order backlog as of the end of September 2021 increased from the end of the same quarter of the previous year. In addition to increased maritime cargo movements accompanying the recovery of the global economy and a trend toward higher maintenance demand, demand for large container ships and other vessels also increased, and the order environment is expected to improve. Sales rose slightly from the same quarter of the previous year, partly due to increased orders from continued new customer development in China.」

「Backlog as of 30 June 2021 increased from the end of the same quarter of the previous year. Maritime cargo movements increased as the global economy recovered, and maintenance demand was also trending upward. In addition, the order environment was expected to improve in the near term, including for LNG carriers. However, sales declined slightly from the same quarter of the previous year, which had not been materially affected by COVID-19.」

「In the shipbuilding industry within the non-automotive field, global newbuilding orders and completions declined in 2020 against a backdrop of travel restrictions caused by the spread of COVID-19 and shipowners' and others' restraint on investment in new vessel construction.」

「The order backlog as of the end of December 2020 declined from the end of the same quarter of the previous year and remained at its lowest level since 1997. Although the Group sought to increase its share of low-speed diesel engine bearings for LNG carriers (tankers that transport liquefied natural gas) through continued orders from new customer development in China, demand for maintenance also declined, and sales fell due to stagnation in maritime cargo movements and travel restrictions resulting from the spread of COVID-19.」

「Backlog as of 30 September 2020 declined from the end of the same quarter of the previous year, remaining at its lowest level since 1997. Although the Group continued to receive orders from new customers in China and South Korea for engine bearings for LNG carriers, demand for bearings for low-speed diesel engines declined, and vessel operations were curtailed because of stagnant global cargo movements. Maintenance demand and sales also declined as a result.」

「Backlog as of 30 June 2020 declined from the end of the same quarter of the previous year, reaching its lowest level since the end of June 1997. Although the Group continued to receive orders from new customers in China and South Korea for engine bearings for LNG carriers, demand for bearings for low-speed diesel engines declined, resulting in lower sales.」

「In the marine field, domestic and overseas order volumes generally continued to recover, and demand for bearings for low- and medium-speed diesel engines remained solid. In particular, bearings for low-speed diesel engines for overseas markets contributed to market-share gains as new overseas customers were acquired, and sales increased. In the construction machinery field, domestic demand remained solid, but overseas demand in China, the United States, Southeast Asia and elsewhere was weak, resulting in lower sales.」

「In the marine field, domestic and overseas order volumes continued to recover overall, and demand for bearings for low- and medium-speed diesel engines and turbochargers remained solid. Sales increased, partly because new overseas customers were acquired. In the construction machinery field, domestic demand remained solid, but demand overseas, including in China and Southeast Asia, declined, resulting in lower sales.」

「Excess shipping capacity continued in the same quarter of the previous year, but sales increased thereafter as domestic and overseas demand entered a recovery trend and new overseas customers were acquired. In the construction machinery field, domestic demand remained solid, but overseas demand declined under the influence of China, resulting in lower sales.」

「In the shipbuilding industry within the non-automotive field, the recovery trend in demand continued, and the Group's sales increased. In the construction machinery field, domestic demand remained solid, but overseas demand declined under the influence of China, and signs of an overall slowdown began to emerge.」

「In the shipbuilding industry within the non-automotive field, Japanese shipbuilders' export orders for vessels in calendar 2018 increased 14% year on year, marking a second consecutive year of growth and strengthening prospects for recovery. Excess shipping capacity nevertheless continues worldwide, and it is expected to take some time for the supply-demand balance to improve. In the construction machinery industry, shipment value by domestic manufacturers and construction machinery manufacturers in the United States and elsewhere remained high and firm, supported by strong overseas demand. However, the outlook has become increasingly uncertain because of slowing demand in China.」

「In the shipbuilding industry within the non-automotive field, Japanese shipbuilders' export orders for vessels in January–September 2018 increased slightly year on year. Given that orders had doubled in the previous year, our order environment is now one in which recovery can be expected. Excess shipping capacity nevertheless continues worldwide, and it is expected to take some time for the supply-demand balance to improve. In the construction machinery industry, strong overseas demand supported domestic manufacturers and construction machinery manufacturers in the United States and elsewhere, which maintained high levels of activity and remained firm.」

「In the shipbuilding industry within the non-automotive field, Japanese shipbuilders' export orders for vessels in the first half of fiscal 2018, from January to June, declined slightly year on year. However, given that orders doubled in the previous year, conditions have changed to suggest that recovery can be expected going forward. Excess shipping capacity nevertheless continues worldwide, and it is expected to take some time for the supply-demand balance to improve. In the construction machinery industry, total shipments by domestic manufacturers increased for 20 consecutive months, while production and unit sales by construction machinery manufacturers in the United States and elsewhere also increased, indicating a steady recovery.」

「In the shipbuilding industry within the non-automotive field, excess shipping capacity continues worldwide, and it is expected to take some time for the supply-demand balance to improve. In the construction machinery industry, total shipments by domestic manufacturers in calendar 2017 increased 19.1% year on year, marking the first increase in 3 years, while production and unit sales by construction machinery manufacturers in the United States and elsewhere also recovered rapidly.」

「In the shipbuilding industry within the non-automotive field, Japanese shipbuilders' export orders for vessels in calendar 2017 recovered to approximately 2.5 times the previous year's level, partly because global newbuilding orders in 2016 had been at a record low. However, excess shipping capacity continues worldwide, and it is expected to take some time for the supply-demand balance to improve.」

「In the shipbuilding industry within the non-automotive field, Japanese shipbuilders' export orders for vessels in January–September 2017 doubled year on year, partly because global newbuilding orders in 2016, on a calendar-year basis, had been at a record low. However, excess shipping capacity continues worldwide, and it is expected to take some time for the supply-demand balance to improve. In the construction machinery industry, demand in major markets such as China and the United States remained firm, while domestic demand also increased from the same quarter of the previous year amid continued strong construction investment.」

「In the shipbuilding industry within the non-automotive field, Japanese shipbuilders' export orders for vessels in January–June 2017 doubled year on year, partly because global newbuilding orders in 2016, on a calendar-year basis, had been at a record low. However, excess shipping capacity continues worldwide, and it is expected to take some time for the supply-demand balance to improve. In the construction machinery industry, demand has begun to recover in major markets such as China and North America, while domestic demand also increased from the same quarter of the previous year amid continued strong construction investment.」

「In the shipbuilding industry within the non-automotive field, global newbuilding orders in 2016, on a calendar-year basis, fell to their lowest level since the Lehman shock, as orders for bulk carriers, tankers and other newbuildings suffered a record decline.」

「In the shipbuilding industry within the non-automotive field, excess shipping capacity continued against a backdrop of weak resource demand, and global newbuilding orders remained sluggish. In the construction machinery industry, overseas demand remained weak, while demand related to domestic emissions regulations had run its course, and overall conditions remained sluggish.」