Dependence on Capital Investment Trends and Economic Fluctuations
First written in FY2016. 9 of 29 entries say "Restated". Latest entry: 2026-07-31.
The whole theme swung hardest in 2020: 62 of 77 companies on the "Worse" side.
24 other companies' latest entry also says "Worsened".
- 2026-07-31WorsenedEarnings
「This was partly due to the impact of changes to or postponements of customers' capital investment projects amid uncertainty surrounding the situation in the Middle East, as well as the effect in each segment of the large orders in the equipment and machinery business recorded in the same period of the previous year having run their course during the current period.」
The company stated that changes to and postponements of capital investment projects affected the start of the quarter, demonstrating the impact of dependence on capital investment trends on results. - FY2026Likelihood and impact specifiedAnnual report
「Revenue from the Power Transmission Business and Equipment Systems Business, the group's core businesses, tends to depend heavily on capital expenditure trends in each industry and on the volume of components supplied for incorporation into manufacturers' products. Accordingly, if capital expenditure or component supply volumes are restrained because of an economic downturn or other factors, this could have a significant impact on the performance of the group as a whole.」
The company continues to disclose the risk of dependence on capital expenditure demand and component supply volumes, specifying medium likelihood and high impact. - 2026-05-08MitigatedEarnings
「Net sales increased significantly from the same period of the previous year because we were able to recognize sales from our substantial order backlog largely according to schedule.」
Despite continuing risks related to capital investment trends and delivery timing, recognizing sales from the order backlog according to schedule limited the impact on results for the period. - FY2025-H1MaterialisedAnnual report
「This was because equipment deliveries to customers were delayed into a different accounting period than initially expected, resulting in a slight decline in revenue compared with the initial revenue forecast.」
Equipment deliveries to customers were in fact delayed into a different accounting period, becoming a factor behind the slight decline in revenue versus the initial forecast. The impact of dependence on delivery timing in the capital expenditure-related business is reflected in performance. - FY2024-Q3MitigatedAnnual report
「The group's operating results for the cumulative third quarter of the current fiscal year benefited from its ability to convert its substantial order backlog into revenue largely on schedule. Revenue increased to ¥83,139 million, or 105.7% of the year-earlier period.」
While the business environment dependent on capital expenditure trends remained unstable, the company was able to convert its substantial order backlog into revenue largely on schedule, and total revenue increased to 105.7% of the year-earlier period. - FY2024-Q2MitigatedAnnual report
「The group's operating results for the cumulative second quarter of the current fiscal year benefited from its ability to steadily convert its substantial order backlog into revenue largely on schedule. Revenue increased to ¥55,893 million, or 108.0% of the year-earlier period.」
Although the business environment dependent on capital expenditure trends remained unstable, the company was able to convert its substantial order backlog into revenue largely on schedule, and total revenue increased to 108.0% of the year-earlier period. Converting the order backlog into revenue temporarily reduced the impact of the risk on performance. - FY2024-Q1Overall recovery through on-time conversion of the order backlog into salesAnnual report
「As a result, the company was able to convert its substantial order backlog into sales largely on schedule, resulting in revenue exceeding the year-earlier period and substantial increases in each profit measure.」
Although the business environment dependent on capital expenditure trends remained unstable, the company was able to convert its substantial order backlog into sales largely on schedule, and total revenue and profit recovered. - FY2023-Q3Overall recovery alongside continued regional constraintsAnnual report
「During the cumulative third quarter of the current fiscal year, revenue from power transmission components showed a recovery trend, but Equipment Systems revenue remained sluggish because the timing of revenue recognition was delayed versus expectations due to the impact of activity restrictions related to COVID-19 and delays in delivery schedules for equipment delivered.」
In a business environment dependent on capital expenditure trends, revenue across the regions recovered, but delays in Equipment Systems revenue due to activity restrictions and delivery delays continued in practice. Total revenue was ¥78,634 million, or 118.4% of the year-earlier period. - FY2023-Q2Recovery trend alongside regional constraintsAnnual report
「The group's operating results for the cumulative second quarter of the current fiscal year included revenue of ¥51,737 million, an increase to 116.7% of the year-earlier period.」
Amid continued dependence on capital expenditure trends, total revenue recovered to 116.7% of the year-earlier period. However, Equipment Systems revenue in the East Japan Headquarters continued to be affected by restrictions on activities and delays in the timing of revenue recognition. - FY2022Additional dependence on component supply volumesAnnual report
「Revenue from the Power Transmission Business and Equipment Systems Business, the group's core businesses, tends to depend heavily on capital expenditure trends in each industry and on the volume of components supplied for incorporation into manufacturers' products.」
In addition to the existing dependence on capital expenditure trends, the company specified dependence on the volume of components supplied for incorporation into manufacturers' products as a risk. - FY2022-Q3Recovery trend alongside continued regional constraintsAnnual report
「The group's operating results for the cumulative third quarter of the current fiscal year benefited from receiving an order for polarizing film production equipment in China and generally more active group-wide order-taking activities. Revenue was ¥66,397 million, a slight increase to 102.1% of the year-earlier period, indicating a recovery trend.」
Amid continued dependence on capital expenditure trends, total revenue recovered to 102.1% of the year-earlier period as order-taking activities became more active and equipment orders from China increased. However, restrictions by region, including limits on sales activities and automobile production cuts, remained. - FY2022-Q2Recovery trend alongside regional constraintsAnnual report
「Revenue was ¥44,337 million, a slight increase to 101.4% of the year-earlier period, indicating a recovery trend.」
Amid continued dependence on capital expenditure trends, total revenue recovered to 101.4% of the year-earlier period. However, restrictions by region and business, including limits on sales activities and automobile production cuts, remained. - FY2022-Q1Domestic sales recovery alongside overseas constraintsAnnual report
「The group's operating results for the cumulative first quarter of the current fiscal year benefited from sales activities gradually becoming more active, mainly in Japan, despite continued restrictions to prevent the spread of infection. Revenue increased to ¥21,036 million, or 109.4% of the year-earlier period.」
While the risk related to dependence on capital expenditure trends remained, sales activities continued to face restrictions but became more active, mainly in Japan, and revenue recovered to 109.4% of the year-earlier period. - FY2021-Q3MaterialisedAnnual report
「The group's operating results for the cumulative third quarter of the current fiscal year were affected by the continued need to restrict and refrain from direct customer visits by the sales division to prevent the spread of infection. Although sales activities were conducted using alternative means such as telework, corporate capital expenditure sentiment did not recover, and delivery of the large liquid-crystal display manufacturing equipment recorded in the year-earlier period was largely completed, leaving only a small amount in the current period. As a result, revenue fell sharply to ¥65,004 million, or 81.6% of the year-earlier period.」
Restrictions on and voluntary suspension of sales visits, the failure of corporate capital expenditure sentiment to recover, and the largely completed delivery of large equipment orders resulted in revenue of ¥65,004 million, or 81.6% of the year-earlier period. The impact of the risk related to dependence on capital expenditure trends is reflected in performance. - FY2021-Q2MaterialisedAnnual report
「The group's operating results for the cumulative second quarter of the current fiscal year were affected by the need to restrict and refrain from direct customer visits by the sales division to prevent the spread of infection. Although sales activities were conducted using alternative means such as telework, corporate capital expenditure sentiment did not recover, and delivery of the large liquid-crystal display manufacturing equipment recorded in the year-earlier period was largely completed. As a result, revenue fell sharply to ¥43,716 million, or 76.4% of the year-earlier period.」
Restrictions on and voluntary suspension of sales visits, the failure of corporate capital expenditure sentiment to recover, and completion of deliveries for large equipment orders resulted in revenue of ¥43,716 million, or 76.4% of the year-earlier period. The impact of the risk related to dependence on capital expenditure trends is reflected in performance. - FY2021-Q1Decline in equipment systems revenue due to COVID-19Annual report
「In addition to restricting and refraining from direct customer visits by the sales division to prevent the spread of infection, revenue from large liquid-crystal display manufacturing equipment recorded in the year-earlier period amounted to only a small amount in the current period. As a result, revenue fell sharply to ¥19,230 million, or 73.2% of the year-earlier period.」
In the capital expenditure-related business, restrictions on and voluntary suspension of sales visits, together with the reaction to large equipment orders, caused total revenue to fall to 73.2% of the year-earlier period. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter of the current fiscal year, there were no material changes in financial condition or operating results, including any unusual changes, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The company continues to state that there were no material changes in the business and other risks described for the previous fiscal year, including dependence on capital expenditure trends and economic cycles. - FY2020-Q2Capital expenditure demand proved more resilient than expectedAnnual report
「Operating results for the cumulative second quarter of the current fiscal year benefited from private-sector capital expenditure demand outside the semiconductor-related industries not declining as much as expected, the group's order backlog being steadily converted into revenue, and progress on construction for large orders advancing faster than initially expected. As a result, revenue was ¥57,197 million, an increase to 107.1% of the year-earlier period.」
Amid continued dependence on capital expenditure demand, the company explains that private-sector capital expenditure demand outside the semiconductor-related industries did not decline as much as expected. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, there were no material changes in financial condition or operating results, including any unusual changes, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The company continues to state that there were no material changes in the business and other risks described for the previous fiscal year, including dependence on capital expenditure trends and economic cycles. - FY2019RestatedAnnual report
「Revenue from the Power Transmission Business and Equipment Systems Business, the group's core businesses, tends to depend heavily on capital expenditure trends in each industry. Accordingly, if capital expenditure is restrained because of natural disasters, an economic downturn or other factors, this could have a significant impact on the performance of the group as a whole.」
The company continues to disclose the risk that its core businesses depend on capital expenditure trends. In Japan, labor-saving investment became more active, while overseas conditions remained uncertain against a backdrop of trade friction. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter of the current fiscal year, there were no material changes in financial condition or operating results, including any unusual changes, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there were no material changes in the business and other risks described for the previous fiscal year, including dependence on capital expenditure trends. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, there were no material changes in financial condition, operating results or cash flow, including any unusual changes, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there were no material changes in the business and other risks described for the previous fiscal year, including dependence on capital expenditure trends. - FY2018RestatedAnnual report
「Revenue from the Power Transmission Business and Equipment Systems Business, the group's core businesses, tends to depend heavily on capital expenditure trends in each industry. Accordingly, if capital expenditure is restrained because of natural disasters, an economic downturn or other factors, this could have a significant impact on the performance of the group as a whole.」
Although domestic labor-saving and semiconductor-related investment became more active, the company continues to disclose the risk that its core businesses depend on capital expenditure trends. - FY2018-Q2RestatedAnnual report
「Overseas, meanwhile, the economies of emerging Asian countries, led by China, continue to stagnate.」
The company explains that the business environment, which depends on overseas capital expenditure trends, continues to be affected by stagnation in emerging Asian economies, led by China. - FY2017RestatedAnnual report
「Revenue from the Power Transmission Business and Equipment Systems Business, the group's core businesses, tends to depend heavily on capital expenditure trends in each industry. Accordingly, if capital expenditure is restrained because of natural disasters, an economic downturn or other factors, this could have a significant impact on the performance of the group as a whole.」
The company continues to disclose the risk of dependence on capital expenditure trends. Domestic capital expenditure remained firm, while revenue of the Development Strategy Headquarters declined because of a slowdown in China and emerging Asian economies. - FY2017-Q3RestatedAnnual report
「As uncertainty over the outlook for the global economy increases, companies are becoming more cautious in their investment stance. Capital expenditure in the manufacturing sector is expected to recover, supported by a favorable investment environment, including high corporate earnings, continued monetary easing, revisions to the corporate tax system, rationalization and growing demand for labor-saving measures. In addition, the number of years equipment has been held has increased as a result of past restraint on investment, and demand for equipment replacement is believed to be rising, particularly in the manufacturing sector. However, due to uncertainty over the global economy and the outlook for fiscal and monetary policy, the pace of recovery is expected to remain gradual.」
The company continues to describe the environment surrounding dependence on capital expenditure, stating that although demand for equipment replacement is rising, the pace of recovery is expected to remain gradual. - FY2017-Q2WorsenedAnnual report
「Revenue declined slightly because some revenue from equipment construction projects and other orders shifted into the second half, while overseas demand for capital expenditure had run its course.」
Revenue declined as overseas demand for capital expenditure ran its course, demonstrating the impact of dependence on capital expenditure trends in the reported results. Revenue of the Development Strategy Headquarters was ¥7,358 million, or 80.2% of the year-earlier period. - FY2017-Q1WorsenedAnnual report
「As uncertainty over the outlook for the global economy increases, companies are becoming more cautious in their investment stance.」
The company identifies heightened uncertainty in the global economy and greater corporate investment caution, stating that conditions surrounding dependence on capital expenditure have become increasingly challenging. It also indicates that, although demand for equipment replacement is rising, the pace of recovery is expected to remain gradual. - FY2016First statedAnnual report
「Revenue from the Power Transmission Business and Equipment Systems Business, the group's core businesses, tends to depend heavily on capital expenditure trends in each industry. Accordingly, if capital expenditure is restrained because of natural disasters, an economic downturn or other factors, this could have a significant impact on the performance of the group as a whole.」
Revenue from the core businesses depends on capital expenditure in each industry, and the company states that restrained investment due to an economic downturn or natural disasters could affect performance.