Dependence on public investment budgets of national and local governments
First written in FY2021. 9 of 11 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2026: 39 of 122 companies on the "Worse" side.
- FY2025RestatedAnnual report
「Government entities, including the national government, prefectural governments and municipalities, account for approximately 80% of clients in the construction-related services business.」
The Company reaffirmed that approximately 80% of orders depend on government entities and stated that the FY2025 general-account budget for public works-related expenditure was ¥6.0858 trillion, broadly unchanged from the previous fiscal year. - FY2024WorsenedAnnual report
「Government entities, including the national government, prefectural governments and municipalities, account for approximately 90% of clients in the construction-related services business.」
The stated dependence on government orders increased from approximately 80% in the previous disclosure to approximately 90%, indicating greater exposure to public investment budgets. - FY2023RestatedAnnual report
「Government entities, including the national government, prefectural governments and municipalities, account for approximately 80% of clients in the construction-related services business.」
The Company reaffirmed its dependence on government orders, with government entities accounting for approximately 80% of clients. - FY2023-Q3RestatedAnnual report
「The operating environment surrounding the Group is such that public investment in the construction-related services and construction businesses has remained firm, including through additional budget allocations under supplementary budgets.」
The Company reaffirms its previous view of the order environment for the construction-related business, which is premised on additional budget allocations for public investment. - FY2023-Q2RestatedAnnual report
「In the construction-related services business, sales increased to ¥1,768.076 million, up 26.6% year on year, owing to strong orders, progress in contracting and settlement for disaster-related work in Fukui, Shiga and Hokkaido, and contributions from 株式会社ノース技研, which joined the Group in October 2021, and 株式会社安芸建設コンサルタント, which joined in July 2022.」
The construction-related services business continues to have a business structure dependent on public investment, including disaster-related work and orders from government agencies and other public-sector entities. Orders received amounted to ¥1,624.379 million, and the order backlog stood at ¥1,759.710 million. - FY2023-Q1RestatedAnnual report
「In the construction-related services and construction businesses, public investment has remained solid and is expected to continue to do so, supported by the implementation of budgets related to disaster prevention and mitigation and national resilience.」
The Company presents an outlook for the operating environment of the construction-related services and construction businesses based on the implementation of public investment and budgets related to national resilience. - FY2022RestatedAnnual report
「Because a high proportion of orders for the Group’s construction-related services business comes from the national and local governments, the business is heavily influenced by their public investment budgets.」
Dependence on public investment budgets continues to be identified as a major risk. The Company states that government entities account for approximately 80% of clients and that public works-related expenditure was ¥6.0575 trillion in FY2022. - FY2022-Q3RestatedAnnual report
「Orders received amounted to ¥1,449.723 million, down 3.2% year on year, due to a decline in orders from the Ministry of Land, Infrastructure, Transport and Tourism and local governments, while the order backlog stood at ¥917.385 million, down 8.6%.」
The Company shows the structural dependence of orders in the construction-related services business on orders from the Ministry of Land, Infrastructure, Transport and Tourism and local governments, together with declines in orders received and the order backlog. - FY2022-Q2RestatedAnnual report
「Orders received amounted to ¥852.801 million, down 23.0% year on year, based on orders from the Ministry of Land, Infrastructure, Transport and Tourism and local governments, while the order backlog stood at ¥1,371.585 million, down 7.9%.」
The Company shows, together with figures for orders received and the order backlog, the structure under which orders in the construction-related services business are based on orders from the Ministry of Land, Infrastructure, Transport and Tourism and local governments. - FY2022-Q1RestatedAnnual report
「Orders received amounted to ¥387.184 million, based on orders from the Ministry of Land, Infrastructure, Transport and Tourism and local governments, while the order backlog stood at ¥1,520.462 million.」
The Company shows, together with orders received and the order backlog, the structural dependence of orders in the construction-related services business on orders from the Ministry of Land, Infrastructure, Transport and Tourism and local governments. - FY2021First statedAnnual report
「Because a high proportion of orders for the Group’s construction-related services business comes from the national and local governments, the business is heavily influenced by their public investment budgets.」
The Company explained that government entities account for approximately 80% of clients in the construction-related services business, identifying cuts to public investment budgets as a risk to business performance and financial condition.