Risk of fluctuations in market conditions and semiconductor cycles
First written in FY2024. 3 of 6 entries say "Materialised", first in FY2025. Latest entry: FY2026-H1.
Rigaku Holdings moved to the "Worse" side of this theme in 2026, 7 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 41 of 56 companies on the "Worse" side.
4 other companies' latest entry also says "Materialised".
- FY2026-H1MaterialisedAnnual report
「The multi-purpose analytical instruments business recorded revenue of ¥15,081 million, down 17.1% year on year, against a weakening market environment caused by the continued impact of policies under the Trump administration in the United States and fluctuations in energy prices resulting from the situation in the Middle East.」
The disclosure links U.S. policies under the Trump administration and energy price fluctuations resulting from the situation in the Middle East to a weakening market environment and a 17.1% revenue decline in the multi-purpose analytical instruments business, showing that market trend risk affected first-half results. - FY2025MaterialisedAnnual report
「In the United States in particular, investment in academic funding for research equipment used for academic and research purposes has recently been reduced, resulting in lower product purchases by universities and public research institutions that are customers of the Group.」
Reduced funding for academic and research purposes in the United States has lowered product purchases by universities and public research institutions, materializing as a market trend risk including lower U.S. sales of multi-purpose analytical instruments. - FY2024First statedAnnual report
「The Group may be affected by significant economic fluctuations, particularly in the semiconductor memory field.」
Demand may fluctuate due to R&D budgets, capital expenditure, business cycles in the semiconductor industry and government subsidy policies, potentially adversely affecting operating results and financial position.