Risk of fluctuations in the domestic economy and construction demand
First written in FY2016. 15 of 36 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-10-09.
Advan Group moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 17 of 32 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Future risk factors include labor shortages and higher labor costs in Japan's construction industry, as well as potential shortages of raw materials and supplies caused by disruptions to shipping routes around the Strait of Hormuz amid heightened tensions in the Middle East, and soaring construction material and energy prices. If these factors cause significant fluctuations in Japan's economic conditions, construction demand or other relevant trends, they may affect the performance of the Group.」
Regarding the risk of fluctuations in domestic construction demand, the statement identifies labor shortages and higher labor costs, as well as supply shortages associated with the situation in the Middle East and soaring construction material and energy prices, as new factors. - FY2025WorsenedAnnual report
「The announcement of a substantial increase in US tariffs further heightened uncertainty about the outlook for prices and other factors, strengthening concerns about a global recession.」
In addition to the existing factors of the yen's depreciation, high resource prices and geopolitical risks, the statement identifies higher US tariffs and concerns about a global recession as new sources of uncertainty. - FY2024WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy continued to experience rising prices as higher international logistics costs were added to existing concerns about resource and energy supply, amid the deteriorating situations in Ukraine and the Middle East and the yen's depreciation. In addition, growing expectations of higher interest rates in Japan made it a year of heightened uncertainty surrounding the economic environment.」
The statement cites the situations in Ukraine and the Middle East, the yen's depreciation, concerns about resource and energy supplies, higher international logistics costs and expectations of higher interest rates in Japan, noting that uncertainty in the economic environment increased. - FY2024-Q3Recovery driven by inbound demand coexists with geopolitical risksAnnual report
「During the cumulative third quarter consolidated period, Japan's economy showed a moderate recovery, supported by increased inbound demand. However, greater caution is required regarding the impact of geopolitical risks, including the continuing conflict in Ukraine, the deteriorating situation in the Middle East and the associated partial suspension of Suez Canal operations.」
While inbound demand is supporting a moderate economic recovery, caution regarding geopolitical risks is increasing because of the conflict in Ukraine, the deteriorating situation in the Middle East and the partial suspension of Suez Canal operations. - FY2024-Q2RestatedAnnual report
「While the gradual easing of various restrictions related to COVID-19 has put the economy on a moderate recovery track, the outlook remains uncertain because of concerns about the impact on consumption from the yen's sharp depreciation and high resource and energy prices, as well as overseas economic and price trends and future developments in the situation in Ukraine.」
The company continues to view an economic recovery as coexisting with uncertainty stemming from the yen's depreciation, high resource and energy prices, overseas economic and price trends, and the situation in Ukraine. - FY2024-Q1Recovery trend coexists with uncertaintyAnnual report
「While the gradual easing of various restrictions related to COVID-19 has put the economy on a moderate recovery track, the outlook remains uncertain because of concerns about the impact on consumption from the yen's sharp depreciation and high resource and energy prices, as well as overseas economic and price trends and future developments in the situation in Ukraine.」
While the easing of restrictions related to infectious diseases points to an economic recovery, uncertainty continues because of the yen's depreciation, high resource and energy prices, overseas economic and price trends, and the situation in Ukraine. - FY2023WorsenedAnnual report
「It was an extremely uncertain year for Japan's economic environment, as energy and food prices soared amid heightened geopolitical risks, including Russia's invasion of Ukraine, and concerns about a global recession grew because of monetary tightening in the United States and Europe.」
The statement cites geopolitical risks, soaring energy and food prices, monetary tightening in the United States and Europe, and concerns about a global recession as factors increasing uncertainty in the economic environment. - FY2023-Q3RestatedAnnual report
「In the building materials business, construction demand has gradually begun to show signs of recovery, but the business has continued to be affected by soaring raw material prices and the yen's sharp depreciation.」
The company continues to view construction demand as gradually recovering while being affected by soaring raw material prices and the yen's sharp depreciation. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter consolidated period, Japan's economy was gradually normalizing after the COVID-19 pandemic, but the outlook remained uncertain as the yen depreciated sharply, prices rose because of higher freight rates and procurement costs, and resource and energy prices soared amid the situation in Ukraine, with supply shortages heightening inflation concerns.」
The statement cites a sharp depreciation of the yen, higher freight rates and procurement costs, surging resource and energy prices, and inflation concerns caused by supply shortages, while the economy was normalizing after the COVID-19 pandemic, and describes the continued uncertainty surrounding the economic outlook. - FY2023-Q1RestatedAnnual report
「Construction demand has gradually begun to show signs of recovery, but has not yet achieved a full-fledged recovery because concerns remain, including the possibility of another wave of COVID-19 infections.」
The company reiterates that construction demand is moving toward recovery but has not yet achieved a full-fledged recovery, as concerns over another wave of COVID-19 infections remain. - FY2022-Q3RestatedAnnual report
「The building materials business has been affected by repeated declarations of a state of emergency and restrictions associated with the Tokyo Olympics, but has gradually begun to show signs of recovery.」
While the effects of states of emergency and restrictions associated with the Tokyo Olympics persist, the company continues to view the building materials business as gradually moving toward recovery. - FY2022-Q2RestatedAnnual report
「Construction demand has gradually begun to recover, but has been affected by repeated declarations of a state of emergency and restrictions associated with the Tokyo Olympics.」
The company continues to view construction demand as gradually recovering while being affected by states of emergency and restrictions associated with the Tokyo Olympics. - FY2022-Q1MitigatedAnnual report
「Construction demand has gradually begun to show signs of recovery, but has not yet achieved a full-fledged recovery because concerns remain, including the possibility of another wave of COVID-19 infections.」
The assessment has shifted from the stagnation of construction demand and its decline from the previous year through the previous period to signs of recovery, while the statement says that a full-fledged recovery has not been achieved because of concerns over another wave of COVID-19 infections. - FY2021-Q3WorsenedAnnual report
「In the construction industry relevant to our business, construction demand has remained below the previous period because Olympic-related demand tapered off in the previous period and companies reduced or postponed capital investment as a result of the COVID-19 pandemic, leading to project delays and cancellations.」
The statement cites the end of the Olympic-related demand cycle, the reduction and postponement of capital investment due to the COVID-19 pandemic, project delays and cancellations, and construction demand falling below the previous period, providing specific details on the deterioration in the demand environment. - FY2021-Q2WorsenedAnnual report
「In the construction industry relevant to our business, construction starts have remained below the previous year because Olympic-related demand tapered off last year and companies reduced or postponed capital investment as a result of the COVID-19 pandemic.」
The statement cites the tapering off of Olympic-related demand, the reduction and postponement of capital investment due to the COVID-19 pandemic, and construction starts falling below the previous year, providing specific details on the deterioration in the construction demand environment. - FY2021-Q1MaterialisedAnnual report
「Although solid demand for the building materials business, including redevelopment projects, was expected to continue, the business environment became challenging as the spread of COVID-19 led to project suspensions and reviews of capital investment.」
Regarding the risk of fluctuations in construction demand, the statement notes that the spread of COVID-19 actually led to project suspensions and reviews of capital investment, making the business environment more challenging. - FY2020WorsenedAnnual report
「The continuing global spread of COVID-19 has had a significant impact on economic and social activity, and the company expects to remain occupied for the time being with responding to COVID-19 and efforts toward recovery after the pandemic subsides.」
In addition to the existing risk of fluctuations in the economy and construction demand, the statement describes the stagnation of economic and social activity caused by COVID-19 and its impact on construction demand. - FY2020-Q3RestatedAnnual report
「In the construction industry relevant to our business, redevelopment projects in the Tokyo metropolitan area and infrastructure development have remained solid, but housing starts are below the previous year and activity continues to lack strength.」
The company continues to view demand related to redevelopment and infrastructure development as solid, while housing starts remain below the previous year and housing-related activity remains weak. - FY2020-Q2RestatedAnnual report
「In the construction industry relevant to our business, private-sector investment, particularly in redevelopment projects in the Tokyo metropolitan area and infrastructure development, has remained solid. However, housing starts are below the previous year, and housing-related activity has continued to lack strength.」
The company continues to view construction demand related to redevelopment and infrastructure as solid, while housing starts remain below the previous year and housing-related activity remains weak. - FY2020-Q1RestatedAnnual report
「In the construction industry relevant to our business, private-sector investment, particularly in redevelopment projects in the Tokyo metropolitan area and infrastructure development, has remained solid. However, condominium starts are below the previous year, and housing-related activity has continued to lack strength.」
The company reiterates that construction demand related to redevelopment and infrastructure remains solid, while weakness in condominium starts and housing-related activity continues. - FY2019WorsenedAnnual report
「With the 2020 Olympic and Paralympic Games approaching, the domestic economy has remained on a moderate recovery track, but signs of a slowdown have emerged in the global economy, leaving the operating environment uncertain. Construction demand, which has been active mainly in the Tokyo metropolitan area, is also expected to temporarily stagnate, including during the Olympic Games, and concerns remain about a backlash in construction demand after the Olympics.」
In addition to the existing risk of fluctuations in the domestic economy and construction demand, the statement identifies the global economic slowdown, stagnation in demand during the 2020 Olympics and a post-Olympics backlash as specific concerns. - FY2019-Q3RestatedAnnual report
「In the construction industry relevant to our business, both public- and private-sector investment has remained solid, supported by construction demand ahead of the Olympics and infrastructure development. In particular, the number of public facility projects, including government office renovations, has increased partly because of the natural disasters in recent years, while new hotel construction and similar projects have also remained active.」
The company continues to view construction demand from public- and private-sector investment as solid, supported by Olympic-related demand, infrastructure development, renovations of public facilities and new hotel construction. - FY2019-Q2Firm construction demand alongside weakness in the housing marketAnnual report
「The construction industry related to our group has continued to perform firmly, led by private investment, supported by construction demand associated with redevelopment projects in the Tokyo metropolitan area and increased infrastructure-related work. However, housing starts for condominiums have declined, and the housing market as a whole has remained weak, below the previous year's level.」
While construction demand, particularly for redevelopment and infrastructure projects, remains solid, the statement explicitly points to weakness in the housing market, including a decline in condominium starts. - FY2019-Q1RestatedAnnual report
「Although Japan's economy continued to recover moderately during the first quarter of the current consolidated cumulative period, the outlook remained uncertain due to higher raw material costs caused by higher crude oil prices, rising labor costs resulting from labor shortages, and concerns over trade friction originating in the United States.」
The company continues to describe the domestic economy as being on a recovery trend while noting uncertainty over the outlook due to higher raw material and labor costs and trade friction. - FY2018WorsenedAnnual report
「While the domestic economy has continued to recover moderately, with corporate earnings and employment conditions improving, uncertainty over the outlook has persisted as concerns over worsening global trade friction and the yen's appreciation, triggered by a decline in the US stock market, have weakened business sentiment.」
While describing factors supporting a recovery in the domestic economy, the company newly places greater emphasis on deteriorating business sentiment and increased uncertainty over the outlook due to trade friction and the yen's appreciation. - FY2018-Q3RestatedAnnual report
「The construction industry related to our group has remained firm in both public- and private-sector investment, supported by increased construction demand and infrastructure-related work, while new hotel construction ahead of the Olympics and redevelopment projects, particularly in the Tokyo metropolitan area, have gathered momentum.」
The company continues to describe an economic recovery trend and firm construction demand, public investment and private investment. At the same time, it continues to state that overall demand for residential construction remains weak. - FY2018-Q2MitigatedAnnual report
「Business sentiment has continued to improve against a backdrop of recovery in overseas economies and domestic consumption. Employment conditions and capital expenditure plans have also remained firm, and despite concerns over geopolitical risks, the economy has continued to recover moderately.」
Compared with the previous descriptions of economic stagnation and uncertainty, the company now states that business sentiment and construction demand are recovering and remain firm. At the same time, it continues to express concern over geopolitical risks. - FY2017RestatedAnnual report
「Our group primarily sources construction materials for general construction, condominiums and housing, stores and commercial facilities from overseas manufacturers and sells them in Japan. If significant changes occur in domestic economic conditions or construction demand trends, this could affect our group's performance.」
The company continues to disclose that fluctuations in the domestic economy and construction demand could affect performance. - FY2017-Q3RestatedAnnual report
「In addition to slower economic growth, particularly in emerging markets, exchange-rate volatility caused by the UK's withdrawal from the EU and the US presidential election spread turmoil across the economic and financial markets, leaving the outlook uncertain.」
The company continues to cite slower growth in emerging markets, the UK's withdrawal from the EU, the US presidential election and exchange-rate movements as sources of uncertainty in the economic and financial markets. At the same time, it states that construction demand remains firm. - FY2017-Q2RestatedAnnual report
「In addition to slower economic growth, particularly in emerging markets, turmoil spread across the economic and financial markets due to the UK's withdrawal from the EU and the yen continued to appreciate, deteriorating corporate earnings. As a result, the domestic economy has remained stalled.」
The company continues to cite slower growth in emerging markets, the UK's withdrawal from the EU and the appreciation of the yen as external factors behind stagnation in the domestic economy. - FY2017-Q1WorsenedAnnual report
「The yen appreciated rapidly amid concerns over an economic slowdown in China and the UK's withdrawal from the EU, causing corporate performance and business sentiment to deteriorate and increasing uncertainty over the outlook.」
The company describes a deterioration in business sentiment and increased uncertainty over the outlook resulting from the external economic environment. At the same time, it states that construction demand remains firm. - FY2016First statedAnnual report
「If significant changes occur in domestic economic conditions or construction demand trends, this could affect our group's performance.」
The company identifies fluctuations in demand for general construction, condominiums and housing, stores and commercial facilities as a business risk.