Market Environment Risk from Declining Public Works and Local Government Finances
First written in FY2016. 17 of 37 entries say "Restated". Latest entry: 2026-07-31.
Saftec moved to the "Worse" side of this theme in 2020, 2 years after the typical company in this theme (2018).
The whole theme swung hardest in 2024: 8 of 34 companies on the "Worse" side.
28 other companies' latest entry also says "Restated".
- 2026-07-31RestatedEarnings
「当社グループが関連する工事用保安用品業界におきましては、防災・減災、国土強靭化による公共工事等が継続され、堅調に推移しております。一方、受注競争の激化に加え、仕入価格や輸送コストの上昇が収まらず、依然として厳しい経営環境が続いております。」
公共工事等が堅調に推移する一方、受注競争、仕入価格、輸送コストによる厳しい市場環境を再確認している。 - FY2026WorsenedAnnual report
「The environment surrounding the industry is expected to remain favorable as the National Resilience Plan and disaster prevention and mitigation projects continue. Meanwhile, although private-sector construction is on a recovery trend, concerns remain that it may slow due to soaring material prices and other factors. Procurement prices are also expected to remain high or rise further, and transportation costs are expected to continue increasing, so the challenging operating environment is expected to persist.」
While indicating favorable market conditions driven by the National Resilience Plan and disaster prevention and mitigation projects, it explicitly cites concerns about a slowdown in private-sector construction due to soaring material prices, further increases in procurement prices, and higher transportation costs. - FY2026-H1RestatedAnnual report
「In the construction safety equipment industry in which our group operates, disaster prevention and mitigation measures and the National Resilience Plan have continued to support activity, but the operating environment remains challenging due to intensified competition for orders and persistently high procurement prices and transportation costs.」
While disaster prevention and mitigation measures and the National Resilience Plan continue to support the market, the challenging environment caused by competition for orders, procurement prices and transportation costs persists. - FY2025RestatedAnnual report
「Public works remained steady due to measures addressing aging disaster prevention infrastructure, roads and other facilities under the Five-Year Acceleration Plan for National Resilience, while private-sector construction also showed signs of recovery and remained firm.」
While public works remained steady and private-sector construction showed signs of recovery, continued instability in the external environment is recognized. - FY2025-H1RestatedAnnual report
「In the construction safety equipment industry in which our group operates, business progressed favorably, supported by government policies such as disaster prevention and mitigation and the National Resilience Plan, as well as the effects of supplementary budgets. Meanwhile, procurement prices and transportation costs continued to rise, product supply delays had not been resolved, and the operating environment remained challenging due to higher labor costs associated with securing personnel.」
While the industry remains favorable due to disaster prevention and mitigation and National Resilience policies, it indicated that the challenging environment is continuing because of higher procurement prices and transportation costs, product supply delays, and rising labor costs. - FY2024WorsenedAnnual report
「Meanwhile, soaring raw material costs and labor shortages continued, and some construction projects were observed to have been delayed or postponed. In addition, delays in product supplies due to the semiconductor shortage and other factors have become persistent compared with the previous year, and the operating environment has remained challenging.」
While the market remains firm and private-sector construction is recovering, it explicitly cites construction delays and postponements due to higher raw material costs and labor shortages, as well as persistent supply delays due to the semiconductor shortage and other factors. - FY2024-Q3RestatedAnnual report
「In the construction safety equipment industry in which our group operates, public works continued to remain firm due to disaster prevention and mitigation, the National Resilience Plan and related measures, and private-sector construction also showed signs of recovery. However, the environment has remained challenging as procurement prices have risen and competition for orders has intensified.」
While continuing to indicate firm public works and a recovery trend in private-sector construction supported by disaster prevention and mitigation and the National Resilience Plan, it explains that the challenging environment is continuing due to higher procurement prices and intensified competition for orders. - FY2024-Q2RestatedAnnual report
「In the construction safety equipment industry in which our group operates, public works remained firm due to disaster prevention and mitigation, the National Resilience Plan and related measures, while private-sector construction also showed signs of recovery.」
The market continues to be viewed as having firm public works and recovering private-sector construction, supported by disaster prevention and mitigation, the National Resilience Plan and related measures. - FY2024-Q1RestatedAnnual report
「In the construction safety equipment industry in which our group operates, public works and private-sector construction both remained firm, but the challenging environment has continued due to higher procurement prices resulting from soaring raw material costs and construction delays caused by labor shortages.」
While public works and private-sector construction remain firm, the market continues to reflect the coexistence of higher procurement prices due to soaring raw material costs and construction delays caused by labor shortages. - FY2023A firm market coexists with construction delays and postponements.Annual report
「In the construction safety equipment industry in which our group operates, public investment remained steady due to the National Resilience Plan and other measures, and private-sector construction also remained firm. Meanwhile, some construction projects were observed to have been delayed or postponed due to labor shortages and soaring raw material prices.」
While public investment and private-sector construction remained firm, some construction projects were actually observed to have been delayed or postponed due to labor shortages and soaring raw material prices. - FY2023-Q3Construction delays and postponements coexist with a firm market.Annual report
「In the construction safety equipment industry in which our group operates, public works, private-sector construction and related activity remained at a certain level and progressed steadily, although some projects were delayed or postponed due to labor shortages and soaring raw material prices.」
While public works, private-sector construction and related activity remained firm at a certain level, some projects were observed to have been delayed or postponed against a backdrop of labor shortages and soaring raw material prices. - FY2023-Q2WorsenedAnnual report
「In the construction safety equipment industry in which our group operates, public investment remained steady, but the operating environment has remained challenging due to delays in new construction projects and higher procurement prices resulting from soaring raw material costs.」
While indicating that public investment remains steady, it explicitly cites higher procurement prices due to soaring raw material costs and delays in new construction projects, describing an increasingly challenging and unstable market environment that includes construction-start delays from the previous quarter. - FY2023-Q1Firm public investment and recovery in private-sector construction coexist with delays in construction starts.Annual report
「In the construction safety equipment industry in which our group operates, public investment remained firm and private-sector construction also recovered gradually, although conditions were unstable in some regions where the start of new construction projects was delayed.」
While public investment remained firm and private-sector construction recovered, some regions experienced delays in starting new construction projects, and the market was described as unstable. - FY2022WorsenedAnnual report
「The environment surrounding the industry is expected to remain favorable, supported by the National Resilience Plan and large-scale renovation projects, although private-sector construction is expected to trend downward.」
While public works and large-scale renovation projects remain firm, a new decline in private-sector construction is expected, indicating more concrete concerns about market conditions. - FY2022-Q2WorsenedAnnual report
「In the construction safety equipment industry in which the Group operates, private-sector construction has been slowing, but large-scale renewal projects, the National Resilience Plan, and disaster-prevention and disaster-mitigation projects have continued, keeping conditions firm. The impact of the coronavirus disease on performance remained minor. Meanwhile, purchase prices have risen owing to soaring raw material prices, and intense price competition has continued, leaving the business environment uncertain.」
While noting that the market remains firm on the back of large-scale renovation projects and similar work, it highlights a slowdown in private-sector construction, higher procurement costs due to soaring raw material prices, and intense price competition, indicating that uncertainty in the operating environment is becoming more pronounced. - FY2021MaterialisedAnnual report
「Although some construction projects were postponed or suspended, infrastructure development to address aging infrastructure and disaster-prevention projects continued and remained firm. During the consolidated fiscal year, the impact of novel coronavirus infections on performance varied by region but was minor overall.」
While construction postponements and suspensions and regional impacts from the novel coronavirus actually occurred, infrastructure development and disaster-prevention projects remained firm, and the overall impact on performance was described as minor. - FY2021-Q3MaterialisedAnnual report
「In the construction safety equipment industry in which the Group operates, the spread of the novel coronavirus has had adverse effects, including event cancellations, the postponement or suspension of construction, and a decline in private-sector capital investment. Meanwhile, viewed across the industry as a whole, infrastructure development to address aging infrastructure and disaster-prevention projects have remained firm.」
The spread of the novel coronavirus has continued to have actual adverse effects on the market, including event cancellations, the postponement or suspension of construction, and a decline in private-sector capital investment. Meanwhile, infrastructure-aging countermeasure and disaster-prevention projects were described as remaining firm. - FY2021-Q2MaterialisedAnnual report
「In the construction safety equipment industry in which the Group operates, the spread of the novel coronavirus has had adverse effects, including the cancellation of events and the postponement or suspension of construction. Meanwhile, viewed across the industry as a whole, infrastructure development to address aging infrastructure and disaster-prevention projects have remained firm.」
The spread of the novel coronavirus has continued to have actual adverse effects on the market, including event cancellations and the postponement or suspension of construction. Meanwhile, infrastructure-aging countermeasure and disaster-prevention projects were described as remaining firm. - FY2021-Q1MaterialisedAnnual report
「In the construction safety equipment industry in which the Group operates, infrastructure-aging countermeasure and disaster-prevention projects kept conditions firm. However, the spread of the novel coronavirus led to postponements and suspensions of construction in some regions, which had a minor impact on sales. The outlook remains unpredictable as the future impact cannot yet be determined.」
Regarding the risk previously described as the possibility of deterioration in performance due to the spread of the novel coronavirus, the disclosure explains that construction was postponed or suspended in some regions and that an actual impact on sales occurred. - FY2020Market risk from the novel coronavirus addedAnnual report
「Although the Group had expected both public and private-sector construction to remain resilient because of underlying project volumes, a prolonged spread of the novel coronavirus could adversely affect performance.」
In addition to the view that public and private-sector construction would remain resilient, the disclosure explicitly states that a prolonged spread of the novel coronavirus could lead to deterioration in performance. - FY2020-Q3Explicit reference to construction delays caused by typhoonsAnnual report
「In the construction safety equipment industry in which the Group operates, construction was delayed by typhoons, but large-scale renewal projects and infrastructure development projects remained stable, while public and private-sector construction remained resilient. Meanwhile, labor shortages and high raw material prices have continued, and the business environment remains uncertain.」
The disclosure newly cites construction delays caused by typhoons, while describing large-scale renewal projects, infrastructure development, public works and private-sector construction as stable or resilient. - FY2020-Q2RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained resilient and private-sector construction has remained firm. Large-scale renewal projects and infrastructure development projects have also remained stable, but labor shortages and high raw material prices continue, leaving the business environment uncertain.」
While public- and private-sector construction and infrastructure development were described as resilient or stable, the view that the outlook remains uncertain owing to cost concerns has continued. - FY2020-Q1Firm market conditions coexist with uncertainty over costsAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained at a certain level, while private-sector construction has remained firm. Infrastructure development projects, including expressway and railway projects, have also continued and remained resilient. However, chronic labor shortages and soaring raw material prices have continued, leaving the business environment uncertain.」
While public works were described as remaining at a certain level, private-sector construction as firm, and infrastructure development as continuing, the disclosure also cited uncertainty over the outlook owing to labor shortages and soaring raw material prices. - FY2019WorsenedAnnual report
「The Group is working on developing competitive new products and strengthening its sales capabilities, but changes in public investment trends and the financial condition of local governments could have a significant impact on its performance and other results. In addition, a sharp decline in demand or an increase in purchase prices could likewise affect its performance and other results.」
In addition to risks related to public investment and municipal finances, sharp declines in demand and increases in purchase prices were explicitly identified as factors that could affect performance. - FY2019-Q3RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat but resilient, while large-scale renewal projects and infrastructure development projects have remained stable.」
While public works were described as flat, the view that the market remains resilient and stable owing to large-scale renewal projects and infrastructure development has continued. - FY2019-Q2RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat but resilient, while large-scale renewal projects and infrastructure development projects have remained stable.」
While public works were described as flat, the view that the market remains resilient and stable owing to large-scale renewal projects and infrastructure development has continued. - FY2019-Q1RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat, while large-scale renewal projects and infrastructure development projects have continued, keeping conditions resilient.」
While public works were described as flat, the view that the market remains resilient owing to large-scale renewal projects and infrastructure development has continued. - FY2018-Q3RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat but continued to show resilience. Large-scale renewal projects and earthquake-reconstruction-related projects have also continued, keeping the market healthy. At the same time, concerns including rising labor costs owing to labor shortages and soaring construction material prices have continued.」
While public works were described as flat, the view that the market remains healthy owing to large-scale renewal projects and earthquake-reconstruction-related projects has continued. - FY2018-Q2RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat, but previously stalled projects have begun to move forward, while large-scale infrastructure development and earthquake-reconstruction-related projects have continued, keeping the market healthy.」
While public works were described as flat, the view that the market remains healthy owing to the start of previously stalled projects and the continuation of large-scale infrastructure development and earthquake-reconstruction-related projects has continued. - FY2018-Q1RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat, while the market has remained firm on large-scale infrastructure development projects related to aging infrastructure and earthquake-reconstruction-related projects.」
Although public works were described as flat, the view that the market remains firm owing to infrastructure development for aging infrastructure and earthquake-reconstruction-related projects has continued. - FY2017Public works shift from decline to flat growth, while the full-scale start of Olympics-related projects remains absent and uncertainty continuesAnnual report
「In the construction safety equipment industry in which the Group operates, public works have remained flat, while the market has remained firm on earthquake-reconstruction-related and infrastructure-aging countermeasure projects. Meanwhile, Olympics- and Paralympics-related projects have not yet gained full momentum, and labor costs driven by chronic labor shortages and the high prices of construction materials and other inputs have continued, leaving the outlook uncertain.」
Public works were described as flat rather than continuing their previous downward trend, and the market was described as firm, while uncertainty factors, including the lack of full-scale momentum in Olympics-related projects, were also cited. - FY2017-Q3RestatedAnnual report
「In the construction safety equipment industry in which the Group operates, public works have declined gradually, but the market has remained firm on earthquake-reconstruction-related projects and infrastructure-aging countermeasure projects. However, labor costs continue to rise owing to chronic labor shortages, while construction materials and other inputs remain expensive, leaving the outlook uncertain.」
Although the decline in public works is continuing, the disclosure states that the market has remained firm on earthquake-reconstruction-related and infrastructure-aging countermeasure projects. However, conditions remain unpredictable. - FY2017-Q2Signs of improvement in some regionsAnnual report
「Public works are declining gradually, but in some regions, previously postponed projects such as disaster prevention and infrastructure-aging countermeasures have begun to move forward, and conditions are improving, albeit gradually. However, labor costs driven by labor shortages and the high prices of construction materials and other inputs have continued to rise, and the situation remains uncertain.」
Although the decline in public works is continuing, projects for disaster prevention and infrastructure-aging countermeasures that had been postponed have begun to move forward in some regions, indicating some improvement in industry conditions. However, the situation remains uncertain. - FY2017-Q1WorsenedAnnual report
「Although private-sector capital investment has remained healthy, public works have continued to trend downward, and earthquake-reconstruction-related work in the Tohoku region is also beginning to decline.」
The disclosure changed to state that the decline in public works was continuing and that earthquake-reconstruction-related work in the Tohoku region was also entering a declining phase. - FY2016First statedAnnual report
「The Group is working on developing competitive new products and strengthening its sales capabilities, but changes in public investment trends and the financial condition of local governments could have a significant impact on its performance and other results.」
Trends in public investment and changes in the financial condition of local governments are identified as external risks that could affect performance.