Difficulty procuring construction timber and soaring prices due to the lumber shock
First written in FY2022-Q1. 3 of 7 entries say "Worsened", first in FY2022-Q3. Latest entry: FY2026-H1.
Tokyo Board Industries moved to the "Worse" side of this theme in 2025, 3 years after the typical company in this theme (2022).
The whole theme swung hardest in 2025: 9 of 12 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「However, the outlook remains uncertain due to the impact of U.S. tariff policies and persistently high energy prices and raw material costs resulting from the prolonged situations in Ukraine and the Middle East.」
Regarding the procurement environment for resources and raw materials, including timber, additional and more specific sources of uncertainty have emerged, including U.S. tariff policy, the prolonged situations in Ukraine and the Middle East, and persistently high energy prices and raw-material costs. - FY2025-H1RestatedAnnual report
「The outlook remains uncertain due to high resource prices resulting from unstable international conditions and higher consumer prices accompanying rapid foreign exchange movements.」
The disclosure continues to cite uncertainty in the procurement environment due to surging prices of resources and raw materials, including timber, exchange-rate fluctuations and inflation. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy progressed toward normalization of social and economic activity following the lifting of COVID-19-related restrictions on movement. However, surging resource prices and inflation, driven by heightened geopolitical risks, have continued, and the outlook remains uncertain.」
The disclosure continues to cite uncertainty in the procurement environment arising from rising resource prices and inflation, as well as geopolitical risks. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy showed signs of recovery as restrictions on economic activity related to COVID-19 were eased. However, the prolonged tensions surrounding Russia and Ukraine, together with higher prices for energy, raw materials and other goods caused by the weaker yen, have left the outlook uncertain.」
The disclosure continues to cite rising raw-material and energy prices and the prolonged international situation. Uncertainty surrounding the procurement environment for resources, including timber, also continues. - FY2022WorsenedAnnual report
「Raw material and resource prices surged due to disruptions to production and logistics caused by COVID-19, while economic uncertainty stemming from the situation in Russia and Ukraine also persisted, and the economic outlook is expected to remain uncertain.」
Regarding the procurement environment for timber resources and raw materials related to the wood shock, high prices and disruptions to supply and logistics networks have continued, while economic uncertainty arising from the situation in Russia and Ukraine has added to the factors causing deterioration. - FY2022-Q3WorsenedAnnual report
「The Company was affected by surging prices of resources and raw materials, including crude oil, and unstable supply conditions.」
Although construction timber was not identified specifically, the disclosure describes surging resource and raw-material prices and unstable supply, indicating deterioration in the resource procurement environment. - FY2022-Q1First statedAnnual report
「The United States and China are both in the process of economic recovery and are driving the global economy, but the concentration of construction timber resources in those countries has reduced supplies to Japan and caused timber prices to surge, creating what is known as the “wood shock.” While this is expected to lead to greater use of domestic timber resources over the long term, in the short term, difficulty procuring construction timber could delay housing starts and have other effects, and the outlook for industry conditions is expected to remain uncertain.」
The disclosure states that reduced supplies and surging prices of construction timber resources have actually occurred as the “wood shock,” raising concerns about delays in housing starts and other effects resulting from short-term procurement difficulties.