Slower Growth in Office-Furniture Demand Due to Declining Office-Building Completions in the Tokyo Metropolitan Area
First written in FY2019. 7 of 17 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2026.
Takano moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2023: 3 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Regarding the performance of the core businesses, sales of electromagnetic actuators for semiconductor-related applications in the industrial equipment business remained weak, while sales of office furniture products in the housing-related equipment business and inspection equipment for films in the inspection and measurement equipment business remained firm.」
Sales of office furniture products remained firm, providing a mitigating factor against the risk arising from sluggish demand for office buildings. - FY2026-H1MitigatedAnnual report
「Regarding the performance of the core businesses, sales of electromagnetic actuators for semiconductor-related applications in the industrial equipment business remained weak, while sales of inspection equipment for films and for semiconductor and electronic device applications in the inspection and measurement equipment business, as well as office furniture products in the housing-related equipment business, remained firm.」
Sales of office furniture products remained firm, providing a mitigating factor against the risk of declining office furniture demand. - FY2025-H1MitigatedAnnual report
「Regarding the performance of the core businesses, demand for office furniture products in the housing-related equipment business remained firm, while sales of inspection equipment for FPD applications in the inspection and measurement equipment business and electromagnetic actuators for semiconductor-related applications in the industrial equipment business remained weak.」
Demand for office furniture products remained firm, providing a mitigating factor against the risk of declining office furniture demand. Weak sales in other businesses were also noted. - FY2024-Q2Broad-based demand recovery and a pause in demand for private-room space productsAnnual report
「As a result, while demand across the office furniture market showed signs of recovery in the current fiscal year, demand for private-room space products, which had been strong due to demand for web conferencing, showed signs of a pause.」
It was stated that demand across the office furniture market showed signs of recovery, while demand for private-room space products showed signs of a pause. - FY2023WorsenedAnnual report
「The office furniture industry, which is relevant to the Group's core products, experienced a decline in revenue due mainly to the limited supply of new office buildings.」
Limited new office building supply contributed to the full-year decline in revenue in the housing-related equipment business, and the slowdown in demand growth continued. - FY2023-Q3WorsenedAnnual report
「However, due mainly to the limited supply of new office buildings in the current fiscal year, revenue was ¥7,261 million, down ¥441 million, or 5.7%, year on year.」
Limited new office building supply caused revenue in the housing-related equipment business to decline 5.7% year on year. - FY2023-Q2WorsenedAnnual report
「However, due mainly to the limited supply of new office buildings in the current fiscal year, revenue was ¥4,689 million, down ¥215 million, or 4.4%, year on year.」
Limited new office building supply caused revenue in the housing-related equipment business to decline 4.4% year on year, while the slowdown in office furniture demand continued. - FY2023-Q1WorsenedAnnual report
「However, due mainly to factors including signs of a pause in the recovery of demand for office furniture, revenue was ¥2,333 million, down ¥115 million, or 4.7%, year on year.」
While demand for private-room space products continued to expand, the recovery in demand for office furniture showed signs of a pause, resulting in a 4.7% decline in revenue in the housing-related equipment business. - FY2022-Q3MitigatedAnnual report
「Strong sales of private-room space products and firm demand for office furniture, among other factors, drove revenue to ¥7,702 million, an increase of ¥2,293 million, or 42.4%, year on year.」
Strong sales of private-room space products and firm office furniture demand provided a mitigating factor against the risk of declining office furniture demand. - FY2022-Q2MitigatedAnnual report
「Sales were ¥4,904 million, up ¥1,695 million, or 52.8%, from the same quarter of the previous year, owing mainly to strong sales of private-space products and firm office furniture demand.」
Strong sales of private-space products and firm office furniture demand were identified as factors mitigating the declining demand trend in the residential and lifestyle equipment business. - FY2021WorsenedAnnual report
「In the office furniture industry, which is relevant to the Group's main products, demand continued to decline, owing mainly to restraint in office investment following the declaration of the state of emergency.」
A full-year decline in office furniture demand was confirmed due to restraint in office investment following the declaration of the state of emergency. - FY2021-Q3WorsenedAnnual report
「The impact of current restraint in office investment was substantial, with sales of ¥5,408 million, down ¥1,202 million, or 18.2%, from the same quarter of the previous year.」
Continued restraint in office investment contributed to an 18.2% year-on-year decline in sales in the residential and lifestyle equipment business. - FY2021-Q1WorsenedAnnual report
「In this segment, in response to lower orders resulting from customers suspending business operations during the period covered by the state of emergency, the Company worked to optimize inventory levels by adjusting factory operations and reduce fixed costs through thorough expense reductions and other measures.」
Customers' suspension of business operations during the state of emergency actually led to lower orders for the residential and lifestyle equipment business, including office furniture, and the Company responded by adjusting factory operations and reducing fixed costs. - FY2020MaterialisedAnnual report
「In the office furniture industry, which is relevant to the Group's main products, demand for new construction and relocations in the Tokyo metropolitan area remained firm during the first half of the fiscal year, but investment in offices was restrained toward the end of the fiscal year amid signs of an economic slowdown.」
Office investment was restrained toward the end of the fiscal year against a backdrop of economic slowdown, and slower growth in office furniture demand actually occurred. - FY2020-Q3MaterialisedAnnual report
「Due to lower sales resulting from restraint in the introduction of office furniture in Japan against a backdrop of concerns about the economic outlook,」
Restraint in the introduction of office furniture in Japan and lower sales continued to occur. - FY2020-Q1MaterialisedAnnual report
「As a result, although some restraint in domestic office furniture demand occurred, demand in China remained firm, among other factors,」
The disclosure stated that some restraint in domestic office furniture demand had actually occurred, indicating that the risk of slower demand growth had materialized. - FY2019First statedAnnual report
「The temporary decline in office building completions in the Tokyo metropolitan area is expected to cap growth in office furniture demand in the next fiscal year.」
For office furniture demand in the next fiscal year, the temporary decline in office building completions in the Tokyo metropolitan area was presented as a new outlook and risk that could cap growth.