Construction-Related Market and Economic Fluctuation Risks
First written in FY2016. 13 of 37 entries say "Restated". Latest entry: 2026-08-06.
Tanaka moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 17 of 32 companies on the "Worse" side.
18 other companies' latest entry also says "Restated".
- 2026-08-06RestatedEarnings
「Although demand remained generally firm, challenges remained at worksites, including supply restrictions on some products resulting from tensions in the Middle East, longer construction periods due to labor shortages, and soaring material prices. This created a need for careful decisions on orders, including assessments of delivery schedules and appropriate prices.」
The Company describes demand in the construction-related market as generally firm, while noting supply restrictions, labor shortages, longer construction periods, soaring material prices, and the need for careful order decisions. - FY2026Recovery in private-sector capital investment and continued earnings constraintsAnnual report
「In the construction-related industry in which our Group operates, public-sector capital investment remained solid, and private-sector capital investment also showed gradual signs of recovery. However, challenges continued at sites, including surging material prices, longer construction schedules associated with labor shortages, and higher labor costs. It remained necessary to carefully assess delivery timing and prices, and conditions remained difficult for securing profits.」
While public investment remained solid and private-sector capital investment showed a gradual recovery, difficulty in securing profits continued due to surging material prices, labor shortages, longer construction schedules, and higher labor costs. - 2026-05-12RestatedEarnings
「At the same time, challenges continued at worksites, including soaring material prices, extended construction periods due to labor shortages, and rising labor costs. It was necessary to carefully assess delivery schedules and prices, and conditions remained difficult from the standpoint of securing profit.」
Although signs of recovery were seen in public- and private-sector capital investment, difficulties in securing profit due to material prices, labor shortages, longer construction periods, and rising labor costs continued. - FY2026-H1WorsenedAnnual report
「In the construction-related industry in which our Group operates, demand remained generally flat. Meanwhile, it remained necessary to carefully assess the effects of surging material prices, longer construction schedules associated with labor shortages, and higher labor costs at sites, and conditions remained difficult in terms of securing profits.」
The description has changed from the generally favorable capital investment demand indicated in the previous fiscal year to demand remaining generally flat. Difficulty in securing profits due to material prices, labor shortages, longer construction schedules, and higher labor costs also continues. - FY2025RestatedAnnual report
「In the construction-related industry in which our Group operates, demand for capital investment remained generally favorable. However, the 2024 problem in the construction and transportation industries has caused labor shortages and longer construction schedules, while on-site labor costs have risen and material prices have remained high. As a result, it remained necessary to carefully assess the effects on order decisions and construction progress, and conditions remained difficult for earning profits.」
While demand for capital investment was generally favorable, the 2024 problem, labor shortages, longer construction schedules, higher on-site labor costs, and persistently high material prices continued to make conditions in the construction-related market difficult for earning profits. - FY2025-H1RestatedAnnual report
「In the construction-related industry in which our Group operates, concerns including the 2024 problem in the construction and transportation industries, longer construction schedules due to labor shortages, higher on-site labor costs, and surging material prices have resulted in persistently difficult conditions for earning profits.」
It reconfirms that earning profits remains difficult in the construction-related industry due to the 2024 problem, longer construction schedules and higher on-site labor costs caused by labor shortages, and surging material prices. - FY2024-Q3MaterialisedAnnual report
「In the construction-related industry in which our Group operates, business sentiment is not poor at present. However, difficult operating conditions continue due to higher construction costs resulting from material price increases, higher labor costs due to labor shortages, and, as reported by some media outlets, the inability to foresee deliveries of electrical wire because supply and demand for electrical wire has become unbalanced. This has resulted in delays and postponements to construction schedules, while general contractors and others have refrained from accepting orders for future projects due to concerns about delivery dates.」
In addition to higher material prices and labor costs, delays and postponements to construction schedules and restrained order acceptance due to the inability to foresee deliveries of electrical wire are appearing in the actual business environment of the construction-related market. - FY2024-Q2Shortages of goods easing and on-site operations recovering, while cost constraints continueAnnual report
「In the construction-related industry in which our Group operates, on-site operations have begun to resume as shortages of goods have gradually eased. However, difficult operating conditions continue, including higher construction costs due to material price increases and higher on-site labor costs due to labor shortages.」
While the easing of shortages of goods has allowed on-site operations to begin recovering, higher construction costs due to material price increases and higher on-site labor costs due to labor shortages continue, resulting in an environment where recovery and cost constraints coexist. - FY2024-Q1Market recovery trend and cost constraintsAnnual report
「In the construction-related industry in which our Group operates, construction costs have risen due to the 2024 problem, higher on-site labor costs resulting from labor shortages, and increases in material prices. However, the market recovery trend has continued as the shortages of goods that had persisted have gradually eased.」
It states that, while cost constraints from the 2024 problem, labor shortages, higher on-site labor costs, and rising material prices continue, the market is on a recovery trend as shortages of goods ease. - FY2023-Q3WorsenedAnnual report
「In the construction-related industry in which our Group operates, both public investment and private-sector capital investment remained sluggish. In addition, conditions remained difficult for securing profits because it was difficult to pass on surging material costs to prices in a timely manner, while the burden of expenses increased.」
Both public investment and private-sector capital investment were sluggish. The difficulty of passing on surging material costs to prices and the increased burden of expenses made it difficult to secure profits, indicating a more challenging market environment than in the previous quarter. - FY2023-Q2WorsenedAnnual report
「In the construction-related industry in which our Group operates, both public investment and private-sector capital investment held up reasonably well, but the overall volume of work was unchanged or slightly lower than the previous year. In addition, conditions remained difficult for securing profits due to higher prices for materials in general and increased expenses associated with rising prices.」
While public- and private-sector investment showed a certain level of activity, the overall volume of work was unchanged or slightly lower, and the difficulty of securing profits became more tangible due to higher expenses resulting from rising material prices and inflation. - FY2023-Q1MaterialisedAnnual report
「In the construction-related industry in which our Group operates, public investment was expected to remain solid due to the execution of related budgets. However, private-sector capital investment was affected by surging material prices and shortages of goods, with project delays and postponements observed, and the order environment remained difficult.」
Project delays and postponements caused by surging material prices and shortages of goods are appearing in private-sector capital investment and the order environment. - FY2022MaterialisedAnnual report
「In the construction-related industry in which our Group operates, the scarcity of large projects has led to more general contractors and subcontractors entering the market for small and mid-sized projects, intensifying competition for orders. In addition, the effects of supply chain disruptions, shortages of goods, and surging raw material prices have resulted in project delays and postponements, and the earnings environment remained difficult.」
The scarcity of large projects, intensifying competition for small and mid-sized projects, supply chain disruptions, shortages of goods, and surging raw material prices appeared in the year's results as project delays and postponements. - FY2022-Q3MaterialisedAnnual report
「In the construction-related industry in which our Group operates, the scarcity of large projects has led to more general contractors and subcontractors entering the market for small and mid-sized projects, intensifying competition for orders. In addition, the effects of supply chain disruptions accompanying the resurgence of infections, shortages of goods, and surging raw material prices have resulted in project delays and postponements, and the earnings environment remains difficult.」
In addition to intensifying competition for small and mid-sized projects due to the scarcity of large projects, supply chain disruptions, shortages of goods, and surging raw material prices are appearing in the actual business environment as project delays and postponements. - FY2022-Q2Recovery in private-sector capital investment, with competition and cost constraints continuingAnnual report
「In the construction-related industry in which our Group operates, public investment remained firm due to the execution of related budgets. Private-sector capital investment had not recovered to pre-pandemic levels, but began to recover compared with the previous year. However, because there were few large projects, general contractors and subcontractors increasingly entered the market for small and mid-sized projects, intensifying competition for orders. In addition, the earnings environment remained difficult due to chronic labor shortages, surging prices for materials including copper and steel, and shortages of goods.」
Public investment remained firm, and private-sector capital investment recovered from the previous year. However, intensifying competition for small and mid-sized projects due to the scarcity of large projects, labor shortages, surging material prices, and shortages of goods continued to make the earnings environment difficult. - FY2022-Q1Recovery in small and mid-sized projects amid higher material costs and labor shortagesAnnual report
「Public investment remained firm due to the execution of related budgets. Private-sector capital investment, which had shown a cautious stance, also began to recover, centered on small and mid-sized projects, although there were few large projects. Meanwhile, competition for orders has become more intense due to labor shortages and surging prices for metal-related materials.」
Public investment remained firm, while private-sector capital investment began to recover, centered on small and mid-sized projects. However, competition for orders has intensified due to labor shortages and surging prices for metal-related materials. - FY2021RestatedAnnual report
「In the construction-related industry in which our Group operates, cautious attitudes toward capital investment emerged due to the consumption tax increase from October 2019, the reactionary decline following Olympic-related demand, and the inability to foresee an end to the COVID-19 pandemic. Some projects involving commercial facilities, stores and construction were postponed or reduced in scale. In addition, the business environment remained difficult, including in terms of the outlook, as relatively large estimates declined.」
The construction-related market continued to face difficult conditions throughout the year, including cautious attitudes toward capital investment, project postponements and reductions in scale, and a decline in large estimates. - FY2021-Q3MaterialisedAnnual report
「In the construction-related industry in which our Group operates, uncertainty in the domestic economy caused by the spread of COVID-19, together with the previous year's consumption tax increase and the reactionary decline following Olympic-related demand, led to project postponements and reductions in scale for some capital investment projects involving commercial facilities, stores and factories. In addition, the number of relatively large estimates declined, and conditions remained difficult, including in terms of the outlook.」
Risks in the construction-related market are appearing in the actual business environment as project postponements and reductions in scale for commercial facilities, stores and factories, together with a decline in large estimates. - FY2021-Q2WorsenedAnnual report
「In the construction-related industry in which our Group operates, public demand remained relatively firm. However, private-sector demand remained in difficult conditions, as the domestic economy stagnated under the impact of the spread of COVID-19, against a backdrop that included the reactionary decline following the previous year's consumption tax increase and the decline following Olympic-related demand, resulting in project postponements, cancellations and reductions in scale.」
While public demand remained relatively firm, private-sector demand saw project postponements, cancellations and reductions in scale against a backdrop including the spread of COVID-19, making the severity of conditions in the construction-related market more tangible. - FY2021-Q1WorsenedAnnual report
「In the construction-related industry in which our Company operates, information on future projects, such as estimates, has begun to emerge, but it is not possible to determine when they will be carried out. The business environment remained difficult for both public- and private-sector investment.」
While the description of business and other risks is considered to have undergone no material change, the construction-related industry is described as facing a difficult environment for both public- and private-sector investment because the timing of project execution cannot be foreseen. - FY2020RestatedAnnual report
「In the construction-related industry in which our Group operates, public investment remained solid, while private-sector capital investment was sluggish. In addition, the business environment remained difficult due to chronic labor shortages and persistently high labor and material costs.」
While public investment remained solid, the construction-related industry continued to face difficult conditions due to sluggish private-sector capital investment, chronic labor shortages, and persistently high labor and material costs. - FY2020-Q3RestatedAnnual report
「In the construction-related industry in which our Group operates, public investment remained solid, while private-sector capital investment was sluggish. In addition, slight concern continued about the order environment due to chronic labor shortages at construction sites and persistently high labor and material costs.」
While public investment remained solid, sluggish private-sector capital investment, chronic labor shortages, and persistently high labor and material costs continued to cause concern about the order environment. - FY2020-Q2RestatedAnnual report
「In the construction-related industry in which our Group operates, public investment remained solid, while private-sector capital investment was slightly below flat. In addition, slight concern continued about the order environment due to chronic labor shortages at construction sites and persistently high labor and material costs.」
While public investment remained solid, private-sector capital investment was slightly below flat, and concern about the order environment continued due to chronic labor shortages and persistently high labor and material costs. - FY2020-Q1WorsenedAnnual report
「In the construction-related industry in which our Group operates, public investment remained solid, while private-sector capital investment was sluggish. In addition, slight concern continued about the order environment due to chronic labor shortages at construction sites and persistently high labor and material costs.」
It newly indicates that, while public investment remained solid, private-sector capital investment was sluggish. Concern about the order environment also continued due to chronic labor shortages and persistently high labor and material costs. - FY2019RestatedAnnual report
「Meanwhile, in the construction-related industry in which our Group operates, capital investment by both the private and public sectors remained firm, but slight concern about the order environment persisted due to chronic labor shortages at construction sites and surging labor and material costs.」
While private- and public-sector capital investment remained firm, concern about the order environment continued due to chronic labor shortages and surging labor and material costs. - FY2019-Q3RestatedAnnual report
「Meanwhile, in the construction-related industry in which our Group operates, both public and private-sector demand remained firm, but slight concern emerged about the order environment due to chronic labor shortages at construction sites and persistently high labor and material costs.」
It states that, while public and private-sector demand remained firm, concern about the order environment continued due to chronic labor shortages and persistently high labor and material costs. - FY2019-Q2WorsenedAnnual report
「In the construction-related industry in which our Group operates, there was slight concern about the order environment due to labor shortages at construction sites, although both public and private-sector demand remained firm. In addition, conditions remained difficult in terms of profitability, as competition at low price levels continued due to persistently high labor and material costs.」
While public and private-sector demand remained firm, new concern was expressed about the order environment due to labor shortages, and difficult profitability conditions continued because of persistently high labor and material costs and low-price competition. - FY2019-Q1Demand remains firm, but difficult profitability conditions continueAnnual report
「In the construction-related industry in which our Group operates, both public and private-sector demand remained firm. However, conditions remained difficult in terms of profitability, as competition for orders continued to intensify due to surging labor and material costs.」
It states that both public and private-sector demand were firm, while conditions remained difficult in terms of profitability due to surging labor and material costs and intensifying competition for orders. - FY2018RestatedAnnual report
「In the construction-related industry in which our Group operates, public demand remained relatively firm throughout the year. Private-sector demand also remained firm in the first half, supported by public investment, but signs of stagnation emerged as the second half progressed, and conditions remained difficult. In addition, labor and material costs have remained elevated for an extended period, and conditions remained difficult in terms of profitability as competition for mid-sized and larger demand intensified.」
It reconfirms that, despite firm public demand, private-sector demand stagnated in the second half, while prolonged high labor and material costs and intensifying competition continued to make conditions difficult in terms of profitability. - FY2018-Q3Demand becoming evident, with costs and competition intensifyingAnnual report
「In the construction-related industry in which our Group operates, recent positive factors have begun to emerge as demand. However, conditions remained difficult in terms of profitability, as labor and material costs surged and competition for mid-sized and larger demand intensified.」
While positive factors have emerged as actual demand, conditions remain difficult in terms of profitability due to surging labor and material costs and intensifying competition for mid-sized and larger demand. - FY2018-Q2RestatedAnnual report
「In the construction-related industry in which our Group operates, construction demand has begun to emerge. However, demand in related industries has not increased to the extent suggested by the positive outlook. Conditions remained difficult in terms of profitability, with the market continuing to lag, labor and material costs remaining high, and competition intensifying.」
While the emergence of construction demand is a sign of recovery, demand growth has been limited, and conditions remain difficult in terms of profitability due to persistently high labor and material costs and intensifying competition. - FY2018-Q1Intense competition amid signs of recoveryAnnual report
「In the construction-related industry in which our Group operates, there were positive indications for the outlook, including signs of a recovery in demand. However, conditions remained difficult, with fierce competition over order prices continuing due to the market lagging behind expectations and persistently high labor and material costs.」
It points to the positive factor of recovering demand, while describing a difficult environment in which the market continues to lag, labor and material costs remain high, and fierce competition for orders persists. The risk factors continue to be reflected in the actual business environment. - FY2017RestatedAnnual report
「In the construction-related industry in which our Group operates, public demand increased substantially with respect to central government orders, but demand from the prefectures and municipalities with which our Group is involved lacked strength. As a result, private-sector demand, which is driven by public demand, stagnated, and conditions remained difficult overall. Demand related to the environment, including solar power generation, remained firm.」
It states that conditions remained difficult across the construction-related industry due to weak local public demand and stagnant private-sector demand, while demand related to the environment, including solar power generation, remained firm. - FY2017-Q3WorsenedAnnual report
「In the construction-related industry to which the group belongs, market conditions remained weak, with the improvement in corporate earnings stagnating and capital investment lacking strength despite expectations for the domestic economy. In addition, as new demand failed to grow and concentration on existing demand increased, price competition continued and uncertainty over an improvement in market conditions increased.」
The company points to stagnating improvement in corporate earnings, weak capital investment, sluggish growth in new demand, greater concentration on existing demand and continuing price competition, indicating increased uncertainty over an improvement in market conditions. - FY2017-Q2WorsenedAnnual report
「Although there were positive indicators ahead in the construction-related industry to which the group belongs, expectations for an economic recovery weakened. In addition, amid limited expectations for growth in corporate earnings due to stagnation in the domestic economy, the lack of strength in capital investment increased concentration on demand, while price competition continued, resulting in a challenging competitive environment.」
For the construction-related market, the company describes waning expectations for an economic recovery, weak capital investment, greater concentration on demand and continuing price competition, characterizing the environment as more challenging than in the previous quarter. - FY2017-Q1MaterialisedAnnual report
「Although expectations for an economic recovery in the construction-related industry to which the group belongs rose on the back of positive indicators ahead, demand did not increase because of stagnation in the domestic economy, and the group operated in a challenging competitive environment, with competition over order prices continuing.」
The company states that the stagnation in construction-related demand and competition over order prices identified as risks in the previous fiscal year actually continued as the business environment during the quarter. - FY2016First statedAnnual report
「The construction-related industry to which the company’s customers belong is relatively susceptible to economic trends, interest rates, land prices and housing tax policies. If demand for electrical equipment materials declines because of an economic downturn, competition between the company and its peers may intensify and selling prices for products handled may fall, potentially narrowing the company’s margins.」
Economic conditions, interest rates, land prices, tax policy, housing starts and capital investment trends are identified as risks affecting demand, prices and margins.