Domestic economy stalls, while automotive and construction-related materials demand remains weak
First written in FY2017-Q1. 14 of 37 entries say "Worsened", first in FY2020-Q3. Latest entry: 2026-10-30.
Canox moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 4 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2026Automobile production is stabilizing, while tariff policy and constraints on construction demand are presented alongside it.Annual report
「The business environment surrounding our group has become more uncertain and unstable as heightened geopolitical risks in Ukraine and the Middle East affect the global economy. As a result, various new issues, including soaring material prices and the nature of national security, have emerged. In the automotive industry, the rapid shift toward EVs has temporarily settled down, but the shift toward EVs is expected to accelerate again substantially depending on US policy developments. In the construction and building sectors, labor shortages and persistently high material prices continue, resulting in delayed project starts and reviews of construction methods.」
The description has changed from the previous year's focus on stable automobile production to one that also covers the temporary settling of the EV shift, the possibility of renewed acceleration depending on US policy, geopolitical risks, and delayed project starts caused by labor shortages and high material prices in the construction sector. - FY2026-H1Automobile production is stabilizing, while tariff policy and constraints in the building materials and housing-related sectors are presented alongside it.Annual report
「In the automotive industry, a major business partner, the outlook is uncertain because of the impact of US tariff policy, but automobile production remains stable for now. In the building materials and housing-related sectors, orders remain firm, but revisions to construction plans and delays to construction schedules have occurred because of intermittent surges in material prices and labor shortages.」
While automobile production is described as stable for now, the filing cites uncertainty about the outlook due to US tariff policy, as well as revisions to plans and construction schedule delays in the building materials and housing-related sectors caused by soaring material prices and labor shortages. - FY2025Automobile production is stabilizing in the second half, while conditions remain challenging in the building materials and housing-related sectors and the cost environment.Annual report
「In the automotive industry, a major business partner, automobile production remained unstable in the first half because of a series of certification fraud issues at finished-vehicle manufacturers and other companies, but production stability was restored in the second half. In the building materials and housing-related sectors, revisions to construction plans and delays to construction schedules became more pronounced because of intermittent surges in material prices and labor shortages, while various costs, including transportation costs, continued to trend upward.」
Automobile production changed from being unstable in the first half because of certification fraud issues to stabilizing in the second half, while revisions to plans and construction schedule delays in the building materials and housing-related sectors and rising costs continued. - FY2025-H1WorsenedAnnual report
「In the environment surrounding our group, automobile production remained unstable because of a series of certification fraud issues at finished-vehicle manufacturers and other companies in the automotive industry, a major business partner. In the building materials and housing-related sectors, the impact of soaring material prices and labor shortages led to frequent revisions of construction plans and delays to construction schedules, creating a challenging business environment. In addition, various costs, including transportation costs, continued to trend upward.」
While the domestic economy was described as being on a gradual recovery trend, the filing identifies unstable automobile production, revisions to construction plans and schedule delays in the building materials and housing-related sectors, and rising costs as new factors weighing on conditions. - FY2024-Q3WorsenedAnnual report
「During the nine months ended December 2023, Japan's economy followed a gradual recovery trend as the lifting of many activity restrictions following the reclassification of COVID-19 as a Class 5 disease supported a recovery in personal consumption and inbound demand. However, the economic outlook remained uncertain because of the prolonged Russian invasion of Ukraine, heightened geopolitical risks from the military conflict between Israel and Palestine in the Middle East, the slowdown in China's economy, surging global resource and raw material prices, and sharp exchange-rate fluctuations.」
While personal consumption and inbound demand recovered in Japan as activity restrictions were lifted, the filing identifies the military conflict between Israel and Palestine, the slowdown in China's economy, surging resource and raw material prices, and sharp exchange-rate fluctuations as new sources of uncertainty. - FY2024-Q2The domestic economy shifted toward a recovery trend, while uncertainty in the external environment is also presented.Annual report
「During the six months ended September 2023, Japan's economy followed a gradual recovery trend as the lifting of many activity restrictions following the reclassification of COVID-19 as a Class 5 disease supported a recovery in personal consumption and inbound demand. However, the outlook remained uncertain because of the prolonged situation in Ukraine, persistently high resource and raw material prices, and sharp exchange-rate fluctuations.」
While personal consumption and inbound demand recovered as activity restrictions were lifted, the filing also presents a gradual economic recovery alongside uncertainty related to the situation in Ukraine, resource and raw material prices, and exchange-rate fluctuations. - FY2024-Q1ReframedAnnual report
「In the environment surrounding our group, production cuts in the automotive industry, a major business partner, caused by the semiconductor shortage were easing, and strong automobile production brought domestic automobile production above the level of the same period of the previous year.」
It states that production cuts caused by the semiconductor shortage were easing in the automotive industry and that automobile production remained strong. - FY2024-Q1ReframedAnnual report
「During the three months ended June 2023, Japan's economy showed signs of more active social and economic activity as restrictions on activity were eased following the reclassification of COVID-19 as a Class 5 disease. However, the outlook remained uncertain because of concerns about an economic recession resulting from the prolonged situation in Ukraine, persistently high resource and raw material prices, global inflation, and interest-rate hikes by central banks in various countries.」
While the reclassification of COVID-19 as a Class 5 disease and the easing of activity restrictions led to more active social and economic activity, uncertainty stemming from the situation in Ukraine, inflation, policy rate hikes, and recession concerns is also cited. - FY2023WorsenedAnnual report
「Although corporate activity began to show signs of recovery from the second half of the year, difficulties sourcing components, including semiconductors, continued for an extended period because of prolonged congestion in global supply chains. Domestic production by Toyota Motor Corporation, our main customer, was 2.78 million vehicles for the fiscal year, remaining below 3 million for the third consecutive year.」
While social and economic activity showed signs of recovery, difficulties sourcing components continued, and the main customer's domestic production was 2.78 million vehicles, below 3 million for the third consecutive year. - FY2023-Q3The trend toward normalization resulting from the easing of restrictions on activity is presented alongside uncertainty arising from the external environment.Annual report
「During the nine months ended December 2022, while the impact of COVID-19 continued, social and economic activity showed signs of normalizing as restrictions on activity were eased. However, resource and raw material prices rose as the situation in Ukraine continued for an extended period and exchange rates fluctuated sharply, leaving the economic outlook uncertain.」
While the impact of COVID-19 continued, social and economic activity showed signs of normalizing as restrictions on activity were eased. The filing also cites higher resource and raw material prices resulting from the prolonged situation in Ukraine and sharp exchange-rate fluctuations, alongside continued uncertainty about the economic outlook. - FY2023-Q2WorsenedAnnual report
「During the six months ended September 2022, Japan's economy was seeking to normalize social and economic activity while the dramatic changes in the global situation, including the war in Ukraine and the shift toward monetary tightening in the United States and Europe, caused a sharp depreciation of the yen and soaring prices. In economic activity, challenges related to the energy security of heavily import-dependent energy supplies became more serious, while supply chains for components, including semiconductors, were still recovering, and the manufacturing sector ended the first half without reaching normal operating levels.」
While efforts were under way to normalize activity under the COVID-19 environment, the manufacturing sector had not reached normal operating levels because of the weaker yen, soaring prices, energy security concerns, and delays in the recovery of component supply chains. - FY2023-Q1WorsenedAnnual report
「During the three months ended June 2022, Japan's economy continued to face restrictions on social and economic activity, including damage to supply chains caused by the renewed spread of COVID-19 variants and the prolonged Russian invasion of Ukraine, leaving the economic outlook uncertain. In the environment surrounding our group, steel market conditions continued to trend upward, while domestic automobile production showed signs of recovery but remained subject to production cuts because of difficulties sourcing semiconductors and other components.」
The renewed spread of COVID-19 variants, damage to supply chains caused by the prolonged invasion of Ukraine, and continued automobile production cuts due to difficulties sourcing semiconductors and components have kept the economic and demand outlook uncertain. - FY2022WorsenedAnnual report
「Automobile production, which had shown an early recovery trend in the first half of the fiscal year, was repeatedly forced to cut production as difficulties sourcing semiconductors and other components worsened from the summer onward. In the construction-related sector, the year was lackluster except in some logistics facilities, owing to the impact of the Tokyo Olympics, held one year later than scheduled, as well as labor shortages and soaring material prices.」
Automobile production was cut because of difficulties sourcing semiconductors and components, while construction-related activity remained sluggish, except in some areas, due to labor shortages and soaring material prices. - FY2022-Q3WorsenedAnnual report
「During the nine months ended December 2021, Japan's economy briefly showed signs of recovery in economic activity as infections subsided with the rollout of COVID-19 vaccinations and the state of emergency was lifted at the end of September 2021. However, the rapid spread of the Omicron variant emerged as a new threat, leaving the outlook uncertain again.」
It states that, following a temporary recovery driven by vaccinations and the lifting of the state of emergency, uncertainty about the outlook intensified again as the Omicron variant spread rapidly. - FY2022-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan's economy was forced to endure prolonged restrictions on economic activity as a fifth state of emergency was declared and extended due to the renewed threat from COVID-19 variants and the critical situation facing medical institutions. At the same time, COVID-19 vaccinations began in earnest, and signs emerged that the scale of infections was subsiding.」
The filing described prolonged restrictions on economic activity due to the declaration and extension of a state of emergency amid the critical situation facing medical institutions and the spread of COVID-19 variants, while also noting the start of vaccinations and signs that the scale of infections was subsiding. - FY2022-Q1ReframedAnnual report
「During the first three months of the fiscal year, economic activity in Japan remained constrained by the renewed spread of COVID-19. While the progress of COVID-19 vaccinations was expected to have a positive effect, uncertainty over the economic outlook due to the spread of variants continued. Regarding the environment surrounding the Group, steel prices were on an upward trend, and signs of a gradual recovery in domestic automobile production began to emerge.」
While restrictions on economic activity due to the renewed spread of COVID-19 and uncertainty over the outlook due to the spread of variants continued, the filing described an upward trend in steel prices and signs of a recovery in domestic automobile production, shifting the description of the demand environment to include signs of recovery. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy was subject to significant restrictions on people's activities as the government declared a state of emergency in response to the rapid spread of COVID-19. Economic activity stagnated sharply and substantially, particularly in the first quarter. Although a moderate recovery began in Japan from the summer onward, led by the automobile industry, the further spread of variants was resurging worldwide, and the outlook remained far from optimistic.」
In addition to the sharp stagnation in economic activity in the first quarter, the renewed spread of variants increased uncertainty over the outlook. At the same time, a moderate recovery led by the automobile industry from the summer onward was also described. - FY2021-Q3WorsenedAnnual report
「During the first nine months of the fiscal year, Japan's economy showed some signs of a gradual recovery as social and economic activity resumed after the sharp deterioration caused by the spread of COVID-19. However, uncertainty over the outlook intensified again due to the renewed spread of COVID-19 in Japan and overseas.」
The description changed from the gradual recovery reported in the second quarter to renewed uncertainty over the outlook due to the further spread of COVID-19 in Japan and overseas. - FY2021-Q2The economy turned from a sharp deterioration to recovery, but the outlook remains uncertainAnnual report
「During the first six months of the fiscal year, Japan's economy showed signs of a gradual recovery as social and economic activity resumed after the sharp deterioration caused by the spread of COVID-19. However, uncertainty over the outlook remained due to instability in the global economy, including the US-China trade conflict, and concerns over a further spread of COVID-19.」
The description changed from the sharp economic deterioration reported in the previous quarter to a gradual recovery accompanying the resumption of social and economic activity. Concerns over instability in the global economy and a further spread of the infection remained. - FY2021-Q1WorsenedAnnual report
「During the first three months of the fiscal year, Japan's economy faced an uncertain outlook due to instability in the global economy arising from the US-China trade conflict and the UK's EU withdrawal issue, as well as a sharp deterioration in economic conditions caused by the spread of COVID-19.」
In addition to the previous economic slowdown and weak demand, a sharp deterioration in economic conditions caused by the spread of COVID-19 was described as part of the state of the domestic economy. - FY2020WorsenedAnnual report
「Production activity, including automobiles and construction, had remained firm in recent years, but instability in the global economy due to the US-China trade conflict and the UK's EU withdrawal issue, a series of natural disasters in Japan, and a decline in consumer sentiment following the consumption tax increase had become apparent. The worldwide spread of COVID-19 further compounded these factors, causing the economy to slow rapidly toward the end of the consolidated fiscal year. Severe conditions in people's lives and the economy, unprecedented in recent years, continued, with the outlook remaining entirely uncertain.」
In addition to the previous economic stagnation and weak demand, the filing described instability in the global economy, natural disasters, the consumption tax increase, and a rapid economic slowdown and uncertain outlook caused by COVID-19. - FY2020-Q3WorsenedAnnual report
「The economy remained on a moderate recovery path during the first half of the fiscal year, with increased capital investment and a recovery in private consumption accompanying improvements in employment and income conditions. In the second half, however, the sense of an economic slowdown intensified due to uncertainty in overseas economies arising from the US-China trade conflict and the UK's EU withdrawal issue, as well as the psychological impact of the consumption tax rate increase.」
The economy shifted from a moderate recovery path in the first half to a stronger sense of slowdown in the second half, against a backdrop of uncertainty in overseas economies and the psychological impact of the consumption tax rate increase. - FY2020-Q2Manufacturing activity remains weak against a backdrop of sluggish exports to China, leaving the economy stalledAnnual report
「During the first six months of the fiscal year, Japan's economy stalled. Corporate earnings remained high and employment and income conditions continued to improve, but manufacturing activity remained weak against a backdrop of sluggish exports, particularly to China.」
While corporate earnings and employment and income conditions continued to improve, sluggish exports, particularly to China, and weak manufacturing activity were indicated, and the economy was described as stalled. - FY2020-Q1Domestic economy temporarily stalls, while exports and production weakenAnnual report
「During the first three months of the fiscal year, Japan's economy temporarily stalled. Corporate earnings remained high and employment and income conditions continued to improve, but some weakness was seen in exports and production.」
While corporate earnings and employment and income conditions continued to improve, some weakness was seen in exports and production, and the domestic economy was described as temporarily stalled. - FY2019Domestic economy recovering moderately, while natural disasters disrupt production and logisticsAnnual report
「During the fiscal year, Japan's economy remained on a moderate recovery path, with signs of increased capital investment and a recovery in private consumption against a backdrop of high corporate earnings and improved employment and income conditions, despite disruptions to production and logistics caused by a series of natural disasters around mid-year.」
Japan's domestic economy showed a moderate recovery, supported by a recovery in capital investment and private consumption, despite temporary disruptions to production and logistics caused by natural disasters. - FY2019-Q3Domestic economy recovering moderately, while uncertainty over the overseas economic outlook increasesAnnual report
「During the first nine months of the fiscal year, Japan's economy remained on a moderate recovery path, with signs of increased capital investment and a recovery in private consumption against a backdrop of improved corporate earnings and employment and income conditions. Overseas, downside risks to the global economy remained a concern due to the prolonged US-China trade conflict, risks including a slowdown in emerging-market economies, and difficult negotiations over the UK's EU withdrawal agreement, leaving the outlook uncertain.」
Domestically, increased capital investment and a recovery in private consumption were indicated, while overseas downside risks were a concern due to the US-China trade conflict, a slowdown in emerging-market economies and negotiations over the UK's EU withdrawal agreement. - FY2019-Q2Exports and capital investment firm, while private consumption recoveredAnnual report
「During the first six months of the fiscal year, Japan's economy saw exports and capital investment remain firm, with corporate earnings also holding at high levels. Private consumption also showed signs of a gradual recovery, and the economy remained on a moderate recovery path.」
Regarding the domestic economy, exports, capital investment and corporate earnings were described as firm, alongside a recovery in private consumption, indicating that the economy remained on a recovery path. - FY2019-Q1Private consumption mixed, while capital investment remained firmAnnual report
「During the first three months of the fiscal year, Japan's economy saw continued mixed trends in private consumption, affected by sluggish growth in real income due to rising prices and unsettled weather, while capital investment remained firm against a backdrop of high corporate earnings.」
The focus shifted from trends in automobile sales and crude steel production to divergent domestic demand, characterized by sluggish private consumption and firm capital investment. - FY2018Automobile sales up, crude steel production downAnnual report
「Regarding the environment surrounding the Group, domestic crude steel production declined 0.3% from the previous fiscal year, while domestic automobile sales increased 2.3%.」
Domestic automobile sales increased, while crude steel production declined, indicating divergent trends in related markets. - FY2018-Q3Automobile sales up, crude steel production downAnnual report
「Regarding the environment surrounding the Group, Japan's crude steel production totaled 78.43 million tons, down 0.6% year on year, while domestic automobile sales increased 4.5% year on year.」
Domestic automobile sales increased 4.5% year on year, while crude steel production declined 0.6%, indicating divergent trends in related markets. - FY2018-Q1Automotive demand up substantially, crude steel production downAnnual report
「Regarding the environment surrounding the Group, Japan's crude steel production totaled 26.08 million tons, down 0.5% year on year, while domestic automobile sales increased 11.8% year on year.」
The domestic economy was described as being on a moderate recovery path. Automobile sales increased 11.8% year on year, while crude steel production declined 0.5%, indicating divergent trends in demand and production. - FY2017ReframedAnnual report
「Domestic automobile sales had been declining in recent years but increased 2.8% from the previous fiscal year.」
Automotive demand turned from the previous year's declining trend to growth. The filing made no specific mention of trends in construction and construction-materials demand, and the focus shifted from the previous theme of weak demand to a discussion that included a recovery in automotive demand. - FY2017-Q3Automotive demand turned to slight growth, while construction and construction-materials demand remained weakAnnual report
「Regarding the environment surrounding the Group, domestic automobile sales declined in the first quarter due to the Kumamoto earthquake but subsequently recovered, resulting in slight growth year on year. In the construction and construction-materials sectors, housing investment, which had been recovering during the first half of the fiscal year, flattened out from the summer onward and subsequently showed little growth.」
Automobile sales recovered to slight year-on-year growth, while the construction and construction-materials sectors, including housing investment, remained flat or weak, resulting in divergent demand trends by sector. - FY2017-Q2RestatedAnnual report
「In the construction and construction-materials sectors, private housing recovered, but overall growth remained weak due partly to a slowdown in capital investment.」
Private housing showed some recovery, but weak growth across the construction and construction-materials sectors continued. - FY2017-Q1First statedAnnual report
「The economy had still not emerged from the stagnation that began in 2016, and the recovery trend consequently slowed.」
Domestic automobile sales declined 1.9% year on year, while demand in the construction and construction-materials sectors continued to show little growth.