High Dependence on Public Works
First written in FY2017. 14 of 17 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2024: 7 of 31 companies on the "Worse" side.
26 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「Because public works account for a very high proportion of the Group's revenue, its performance could be affected if public works are reduced by more than expected due to the fiscal conditions of the national and local governments, or if bidding competition intensifies as the number of competitors increases.」
The Group has reconfirmed the risks of dependence on public works, reductions in public works, and intensified bidding competition due to an increase in competitors, as well as its responses through sales activities and safety, quality, and bidding management. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The Group states that there have been no material changes in business and other risks, including its high dependence on public works. - FY2023MitigatedAnnual report
「To prepare for a decline in opportunities to win contracts resulting from reductions in public works and intensified bidding competition, the Group will make maximum use of its experience and ingenuity in the maintenance and management work it has performed, as well as its track record in security regulations and other areas, and will work to expand orders through proactive sales efforts. To avoid reducing bidding opportunities, the Group will thoroughly implement safety and quality control in public-sector bidding to avoid suspension from designated bidding or suspension of business, seek to improve its comprehensive evaluation scores, and strengthen its internal management systems to prevent human error when submitting bids. Through these measures, it will secure the trust of ordering parties, secure as many bidding opportunities as possible, increase the likelihood of winning bids, and work to ensure orders for public works.」
The Group identifies sales expansion, safety and quality control, improvement of comprehensive evaluation scores, and stronger bidding management systems as specific responses to the risks of dependence on public works and intensified bidding competition. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The Group has reconfirmed its view that there have been no material changes in business and other risks, including its high dependence on public works. - FY2022-Q3RestatedAnnual report
「During the consolidated third quarter, there were no occurrences of matters that could materially affect investors' decisions among the matters concerning business conditions, financial conditions and other matters described in the Quarterly Securities Report, nor any material changes to the section on "Business and Other Risks" described in the Annual Securities Report for the previous fiscal year.」
The Group has reconfirmed its view that there have been no material changes in business and other risks, including its high dependence on public works. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has reconfirmed its view that there have been no material changes to the risk related to high dependence on public works. - FY2021WorsenedAnnual report
「Because public works account for a very high proportion of the Group's revenue, its performance could be affected if public works are reduced by more than expected due to the fiscal conditions of the national and local governments, or if bidding competition intensifies as the number of competitors increases. Specifically, a decline in opportunities to win large contracts, including road maintenance and management contracts, resulting from reductions in public works and intensified bidding competition could lead to lower revenue and surplus personnel.」
The scope of the risk has been specified to include dependence on public works, intensified bidding competition due to an increase in competitors, fewer opportunities to win large contracts, and surplus personnel. - FY2021-Q3RestatedAnnual report
「During the consolidated third quarter, there were no occurrences of matters that could materially affect investors' decisions among the matters concerning business conditions, financial conditions and other matters described in the Quarterly Securities Report, nor any material changes to the section on "Business and Other Risks" described in the Annual Securities Report for the previous fiscal year.」
The company has reconfirmed its view that there have been no material changes to the risk related to high dependence on public works. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has stated that there have been no material changes to the risk related to high dependence on public works described in the previous fiscal year. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company has stated that there have been no material changes to the risk related to high dependence on public works described in the previous fiscal year. - FY2020-Q3RestatedAnnual report
「During the consolidated third quarter, there were no occurrences of matters that could materially affect investors' decisions among the matters concerning business conditions, financial conditions and other matters described in the Quarterly Securities Report, nor any material changes to the section on "Business and Other Risks" described in the Annual Securities Report for the previous fiscal year.」
The company has stated that there have been no material changes to the risk related to high dependence on public works. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has stated that there have been no material changes to the risk related to high dependence on public works described in the previous fiscal year. - FY2019RestatedAnnual report
「Because public works account for a very high proportion of the group's revenue, a reduction in public works exceeding expectations due to the financial circumstances of the national government and local governments could affect business performance.」
The company has reiterated its high dependence on public works and the risk of reductions in such works due to the financial circumstances of the national and local governments. - FY2019-Q3RestatedAnnual report
「During the consolidated third quarter, there were no occurrences of matters that could materially affect investors' decisions among the matters concerning business conditions, financial conditions and other matters described in the Quarterly Securities Report, nor any material changes to the section on "Business and Other Risks" described in the Annual Securities Report for the previous fiscal year.」
The company has stated that there have been no material changes to the risk related to high dependence on public works described in the previous fiscal year. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has stated that there have been no material changes to the risk related to high dependence on public works described in the previous fiscal year. - FY2018RestatedAnnual report
「Because public works account for a very high proportion of the group's revenue, a reduction in public works exceeding expectations due to the financial circumstances of the national government and local governments could affect business performance.」
The company has reiterated the risk to business performance from reductions in public works due to the high proportion of revenue derived from public works. - FY2017First statedAnnual report
「Because public works account for a very high proportion of the group's revenue, a reduction in public works exceeding expectations due to the financial circumstances of the national government and local governments could affect business performance.」
The company has explicitly identified, for the first time, the structural risk that dependence on public works could affect business performance if public works are reduced.