Prolonged Inventory Correction in the Semiconductor Supply Chain and Stagnation in the Chinese Market
First written in FY2025-H1. 4 of 6 entries say "Softened", first in FY2026-H1. Latest entry: 2026-08-07.
Ryoyo Ryosan Holdings moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2019: 4 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Softened".
- 2026-08-07SoftenedEarnings
「Recovery trends were seen across a wide range of applications and uses, and sales expanded for many products, not only memory semiconductors. As a result, revenue was ¥79.804 billion, up 22.6% year on year, and operating profit was ¥3.023 billion, up 172.6%.」
The previous descriptions of inventory adjustments and stagnant demand have been further softened, with progress in inventory normalization and recovery trends across a broad range of applications now indicated. - FY2026SoftenedAnnual report
「In the electronics industry to which we belong, semiconductor inventory adjustments generally improved during the period, but full-scale demand recovery, particularly for automobiles and industrial equipment, was not achieved, and the difficult business environment continued.」
Semiconductor inventory adjustments generally improved, somewhat easing the risk description, but demand recovery for automobiles and industrial equipment remained insufficient and conditions remained difficult. - 2026-05-19SoftenedEarnings presentation
「Although a gradual recovery in demand is expected after the easing of the inventory adjustment phase, concerns remain over the impact of shortages of some semiconductors and geopolitical risks.」
Shows an outlook for demand recovery after the easing of inventory adjustments. Risk wording has softened from an earlier period, but concerns over supply shortages and geopolitical risks remain. - FY2026-H1SoftenedAnnual report
「In the semiconductor sector, inventory adjustments showed signs of improvement compared with an earlier period, but conditions remained difficult, particularly for automobiles and industrial equipment.」
The description changed to indicate improvement in inventory adjustments compared with an earlier period, while difficult conditions remained for automobiles and industrial equipment. - FY2025RestatedAnnual report
「The overall business environment in the Device Business was challenging, particularly for automobiles and industrial equipment, where production adjustments and the effects of the downturn in the Chinese market have been prolonged.」
The company continues to describe prolonged production adjustments in semiconductors and devices and the extended downturn in the Chinese market. - FY2025-H1First statedAnnual report
「The effects of supply-chain inventory adjustments in the semiconductor sector and stagnation in the Chinese market have lasted longer than initially expected, and uncertainty continues to remain.」
The company states that the effects of inventory adjustments and Chinese-market stagnation have in fact been prolonged.