Globalization of the Electronics Industry and Expansion of Emerging Markets
First written in FY2016. 26 of 33 entries say "Reframed", first in FY2017-Q1. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026ReframedAnnual report
「In the semiconductor market, growth in the electric-vehicle (EV) market has stalled below expectations, but AI-related products performed well, and market conditions for industrial equipment also showed signs of recovery.」
Adds the recovery trend in market conditions for industrial equipment to the previous view in which strong generative AI-related demand coexisted with sluggish EV growth. - 2026-05-14ReframedRevision to earnings forecast
「In the semiconductor market, growth in the electric-vehicle (EV) market has stalled below expectations, but AI-related products performed well, and market conditions for industrial equipment also showed signs of recovery.」
従来のEV需要の鈍化やAI関連需要の好調に加え、産業機器向け市況を「回復傾向」とする認識へ更新している。 - FY2026-H1ReframedAnnual report
「In the semiconductor market, products related to generative AI performed well. However, trends remain mixed by application, with demand for electric vehicles (EVs) slowing and market conditions for industrial equipment recovering slowly.」
Updates the industry environment to reflect strong performance in generative AI-related products, together with slowing EV demand and the delayed recovery in market conditions for industrial equipment, resulting in mixed trends by application. - FY2025-H1ReframedAnnual report
「The outlook remains uncertain owing to the slowdown in the Chinese economy, persistent inflation, global geopolitical risks, and foreign-exchange movements resulting from interest-rate trends in Europe, the United States and Japan. Although the semiconductor market is showing signs of recovery, supported by demand related to generative AI, demand for individual products remains mixed.」
Adds persistent inflation, interest-rate trends in Europe, the United States and Japan, signs of recovery in the semiconductor market driven by generative AI demand, and mixed product demand to the previous view of the Chinese economy, foreign exchange, and geopolitical risks. - FY2024ReframedAnnual report
「During the fiscal year under review, Japan's economy showed gradual improvement as COVID-19 was reclassified as a Class 5 infectious disease, further easing restrictions on economic activity, and inbound demand recovered. In addition, the surge in energy and resource prices showed signs of stabilizing. However, the outlook remains uncertain owing to foreign-exchange trends, the slowdown in the Chinese economy, the prolonged Russia-Ukraine situation, and rising tensions in the Middle East.」
While recognizing the easing of economic restrictions related to the pandemic, the recovery in inbound demand, and the stabilization of surging energy and resource prices, identifies the slowdown in the Chinese economy, foreign-exchange movements, the Russia-Ukraine situation, and the situation in the Middle East as sources of uncertainty. - FY2024-Q3ReframedAnnual report
「During the nine-month period ended December 31, Japan's economy showed a gradual improvement trend as restrictions on economic activity were eased and inbound demand recovered. In addition, the surge in energy and resource prices showed signs of stabilizing. However, the outlook remains uncertain owing to foreign-exchange trends, the slowdown in the Chinese economy, the prolonged Russia-Ukraine situation, and rising tensions in the Middle East.」
While recognizing the easing of restrictions on economic activity, the recovery in inbound demand, and the stabilization of surging energy and resource prices, adds the slowdown in the Chinese economy, foreign-exchange movements, the Russia-Ukraine situation, and rising tensions in the Middle East as new sources of uncertainty. - FY2024-Q2ReframedAnnual report
「During the six-month period ended September 30, Japan's economy showed gradual improvement as COVID-19 was reclassified as a Class 5 infectious disease, further easing restrictions on economic activity, and inbound demand recovered. However, the economic outlook remains uncertain owing to the yen's depreciation, rising prices caused by higher energy and resource prices, trends in the Chinese economy, and concerns about prolonged monetary tightening in the United States.」
While recognizing improvement resulting from the reclassification of COVID-19 as a Class 5 infectious disease and the recovery in inbound demand, identifies the yen's depreciation, higher energy and resource prices, the Chinese economy, and prolonged monetary tightening in the United States as new sources of uncertainty. - FY2024-Q1ReframedAnnual report
「The business environment surrounding our company remains uncertain, despite easing semiconductor shortages and a recovery in the automotive market, owing to the slowdown in the Chinese economy, weak demand for PCs and smartphones, and foreign-exchange trends associated with monetary policy.」
While recognizing the easing of semiconductor shortages and the recovery in the automotive market, identifies the slowdown in the Chinese economy, weak PC and smartphone demand, and foreign-exchange trends as new sources of uncertainty. - FY2023ReframedAnnual report
「In the business environment surrounding our company, the outlook remains uncertain, with conditions shifting from production adjustments caused by semiconductor component shortages at the beginning of the period toward excess inventories in the latter half as supply-demand tightness eased.」
Updates the view of the operating environment from semiconductor shortages and supply constraints to include the easing of supply-demand tightness and the shift toward excess inventories in the latter half of the period. - FY2023-Q3ReframedAnnual report
「Social and economic activity moved toward normalization as restrictions on activity were eased in response to COVID-19. Although the economy showed signs of a gradual recovery, the outlook remains uncertain as unstable conditions overseas and higher prices resulting from elevated resource prices continued, while the yen's depreciation since the beginning of the period recently shifted sharply toward appreciation.」
While recognizing the easing of activity restrictions due to the pandemic and the normalization of economic activity, presents unstable conditions overseas, higher resource and consumer prices, and uncertainty resulting from the sharp appreciation of the yen as factors affecting the industry and economic environment. - FY2023-Q2ReframedAnnual report
「During the six-month period ended September 30, Japan's economy showed signs of a gradual return to normal economic activity as restrictions were eased amid the lull in COVID-19 infections. However, the outlook remains uncertain owing to high resource prices resulting from the prolonged Russia-Ukraine situation, higher prices caused by inflation, and the sharp depreciation of the yen following the widening interest-rate differential between Japan and the United States.」
Adds the Russia-Ukraine situation, higher resource prices, inflation, and the sharp depreciation of the yen to the previous view of the operating environment centered on infectious diseases and supply chains, presenting these factors alongside signs of a return to normal economic activity. - FY2023-Q1ReframedAnnual report
「The global situation remains uncertain, owing to factors including the impact on supply chains from higher resource prices resulting from the prolonged Russian invasion of Ukraine and lockdowns in Shanghai, as well as sharp foreign-exchange movements resulting from the interest-rate differential between Japan and the United States.」
Adds the prolonged Russian invasion of Ukraine, higher resource prices, the Shanghai lockdown, and sharp foreign-exchange movements to the previous view of the operating environment, which included COVID-19, tensions between the United States and China, and tight semiconductor supply and demand. - FY2022-Q3ReframedAnnual report
「In addition, component shortages restricted factory operations in the manufacturing sectors of Southeast Asia and China, disrupting supply chains for components, including semiconductors, and affecting the production of electronics products and automobiles.」
Adds the spread of new variants, restrictions on factory operations in Southeast Asia and China, and effects on the production of electronics products and automobiles to the previous view of tight semiconductor supply and demand and supply-chain disruptions. - FY2022-Q2ReframedAnnual report
「Vaccinations have progressed in Europe, the United States and Japan, raising expectations for the normalization of economic activity. In Southeast Asia, however, lockdowns were implemented because of delays in vaccinations, restricting factory operations in the manufacturing sector. While demand for electronic components has remained high owing to the full-scale adoption of 5G and changes in lifestyles during the COVID-19 pandemic, disruptions in the supply chain for components, including semiconductors, have also led to automobile production cuts despite its recovery trend.」
Adds lockdowns in Southeast Asia, restrictions on factory operations, disruptions in component supply chains, and automobile production cuts to the previous view of tight semiconductor supply and demand and changing demand patterns. - FY2022-Q1ReframedAnnual report
「The global shortage of semiconductors has become a problem, triggered by rising demand for automotive equipment as automobile production recovers, the full-scale adoption of the high-speed communications standard 5G, and increased demand for electronic components resulting from changes in lifestyles during the COVID-19 pandemic.」
In addition to the previous view of uncertainty caused by the COVID-19 pandemic and demand changes driven by automobiles, 5G and new lifestyles, identifies the global semiconductor supply-demand imbalance as the central issue in the industry environment. - FY2021ReframedAnnual report
「During the fiscal year under review, Japan's economy showed signs of recovery in production capacity utilization across the electronics industry in the latter half, but uncertainty continued in the global economic environment, including the ongoing spread of COVID-19, the impact of lockdowns overseas, and prolonged trade friction between the United States and China. Meanwhile, developments driving major changes from the previous market structure, including rising demand for new technologies and services resulting from social change, became increasingly evident.」
Continues to indicate uncertainty caused by COVID-19, lockdowns overseas, and trade friction between the United States and China, while organizing demand for new technologies and services accompanying social change and changes in the market structure as the annual view of the operating environment. - FY2021-Q3ReframedAnnual report
「During the nine-month period ended December 31, although production capacity utilization across the electronics industry has shown signs of recovery, uncertainty continues in the global economic environment, including the ongoing spread of COVID-19, the impact of lockdowns overseas, and prolonged trade friction between the United States and China. Meanwhile, developments that are driving major changes from the previous market structure, including rising demand for new technologies and services resulting from social change, are becoming increasingly evident.」
Presents both a recovery in production capacity utilization and the persistence of uncertain factors, and updates the view to indicate that demand for new technologies and services accompanying social change is driving changes in the market structure. - FY2021-Q2ReframedAnnual report
「During the six-month period ended September 30, although production capacity utilization and other indicators across the electronics industry have gradually shown signs of recovery from the decline in demand in the first quarter, uncertainty continues, including concerns about the prolonged impact of the spread of COVID-19, particularly in Europe, and tensions between the United States and China. Against this backdrop, major changes from the previous market structure are becoming increasingly evident on a continuing basis, including the regionalization and domestic reshoring of supply chains and rising demand for new technologies and services resulting from social change.」
While assuming a decline in demand due to COVID-19, presents both a recovery in production capacity utilization and changes in the market structure resulting from the regionalization and domestic reshoring of supply chains and demand for new technologies and services. - FY2021-Q1ReframedAnnual report
「Concerns about the long-term impact of the spread of COVID-19 and issues such as tensions between the United States and China continue to weigh on the overall economy and create uncertainty. At the same time, major changes from the previous market structure are becoming increasingly evident, including the regionalization and domestic reshoring of supply chains and rising demand for new technologies and services resulting from social change.」
Adds COVID-19, tensions between the United States and China, the regionalization and domestic reshoring of supply chains, and changes in the market structure resulting from increased demand for new technologies and services to the previous industry view of market maturation and technological innovation. - FY2020-Q3ReframedAnnual report
「The environment surrounding our group is undergoing major changes, including rapid technological innovation such as advances in IoT, AI and 5G and the shift toward smart-city concepts and a future automotive society, as well as market maturation, intensifying competition resulting from the entry of emerging companies, and increasingly diverse and sophisticated customer needs.」
Adds smart-city concepts, the shift toward a future automotive society, market maturation, the entry of emerging companies, and increasingly sophisticated customer needs to the previous view of IoT, AI, 5G and automobile electrification, thereby organizing its view of the operating environment. - FY2020-Q1ReframedAnnual report
「The environment surrounding our group is undergoing major changes, including market maturation and intensifying competition resulting from the entry of emerging companies, advances in IoT, AI and 5G, and increasingly diverse and sophisticated customer needs. In addition, the role expected of electronics trading companies is changing significantly as major electronics manufacturers, which are our customers, reorganize their businesses and change their business policies.」
Adds 5G, increasingly sophisticated customer needs, and changes in the functions of trading companies resulting from business reorganizations at major electronics manufacturers to the previous view of market maturation, intensifying competition, and advances in IoT and AI. - FY2019ReframedAnnual report
「The electronics industry to which our group belongs is undergoing major changes in its operating environment, including market maturation and the entry of emerging companies, advances in IoT and AI, and increasingly diverse and sophisticated needs, and is an extremely competitive industry.」
Organizes the previous view of mature developed markets, expanding emerging markets, and automotive, IoT and AI markets as broader changes in the competitive environment, including market maturation, the entry of emerging companies, and increasingly sophisticated needs. - FY2019-Q3RestatedAnnual report
「In the electronics industry to which our group belongs, market expansion is expected, particularly in the automotive and industrial sectors, as automobiles become more electronic and automated and the Internet of Things (IoT) and artificial intelligence (AI) advance.」
Reiterates expectations for market expansion in the automotive and industrial sectors, driven by automobile electrification and automation, IoT and AI. - FY2019-Q2RestatedAnnual report
「In the electronics industry to which our group belongs, market expansion is expected, particularly in the automotive and industrial sectors, as automobiles become more electronic and automated and the Internet of Things (IoT) and artificial intelligence (AI) advance.」
Reiterates expectations for market expansion in the automotive and industrial sectors, driven by automobile electrification and automation, IoT and AI. - FY2019-Q1RestatedAnnual report
「In the electronics industry to which our group belongs, market expansion is expected, particularly in the automotive and industrial sectors, as automobiles become more electronic and automated and the Internet of Things (IoT) and artificial intelligence (AI) advance.」
Continues to indicate expectations for market expansion in the automotive and industrial sectors, driven by automobile electrification and automation, IoT and AI. - FY2018ReframedAnnual report
「In the electronics industry to which our group belongs, developed markets are maturing while technological evolution and globalization accelerate, and consumer markets and manufacturing industries in emerging economies, particularly in Asia, are expanding and growing markedly. In addition, cutting-edge technological innovation, including the Internet of Things (IoT) and artificial intelligence (AI), is advancing significantly, raising expectations for new markets such as vehicles equipped with advanced driver-assistance systems (ADAS) and 5G-related applications.」
In addition to the previous view of mature developed markets, expanding emerging markets, and market expansion driven by IoT and AI, it identifies ADAS-equipped vehicles and 5G as specific new markets. - FY2018-Q3ReframedAnnual report
「In the electronics industry to which our group belongs, market expansion is expected, particularly in the automotive and industrial sectors, as automobiles become more electronic and automated and the Internet of Things (IoT) and artificial intelligence (AI) advance.」
Adds advances in AI to the previous factors driving market expansion, namely automobile electrification and automation and IoT. - FY2018-Q2RestatedAnnual report
「In the electronics industry to which our group belongs, market expansion is expected, particularly in the automotive and industrial sectors, as automobiles become more electronic and automated and the Internet of Things (IoT) advances.」
Continues to present market expansion, particularly in the automotive and industrial sectors, driven by automobile electrification and automation and IoT, as the industry view. - FY2017ReframedAnnual report
「The electronics industry to which our group belongs is one of the most globalized industries, alongside the automotive industry. As technology continues to evolve rapidly, shifts in markets and the rise and fall of manufacturers are taking place on a global scale. In recent years, while the developed markets that have driven the market to date have matured and stagnated, consumer markets in emerging economies, particularly China and India, have expanded, and manufacturing industries in these countries have grown markedly. Although temporary stagnation in emerging economies resulting from economic structural reforms is foreseeable, we believe this trend will continue irreversibly going forward.」
In addition to the recent industry view centered on smartphones, automobiles and IoT, the section on the medium- to long-term strategy reiterates the long-term structural view of globalization and emerging-market expansion. - FY2017-Q3RestatedAnnual report
「The electronics industry to which our group belongs continues to tend to rely on smartphones as its main growth driver, but growth is slowing. At the same time, the expansion of new markets is expected as automobiles become more electronic and the Internet of Things (IoT) advances.」
Continues to present the industry view that smartphone growth is slowing and that automobile electrification and IoT are driving the expansion of new markets. - FY2017-Q2RestatedAnnual report
「The electronics industry to which our group belongs continues to tend to rely on smartphones as its main growth driver, but growth is slowing. At the same time, the expansion of new markets is expected as automobiles become more electronic and the Internet of Things (IoT) advances.」
Continues to present the industry view that smartphone growth is slowing, automobiles are becoming more electronic, and IoT is driving the expansion of new markets. - FY2017-Q1ReframedAnnual report
「The electronics industry to which our group belongs continues to tend to rely on smartphones as its main growth driver, but growth is slowing. At the same time, the expansion of new markets is expected as automobiles become more electronic and the Internet of Things (IoT) advances.」
The market outlook has shifted from a focus on the expansion of emerging markets to a framework that also reflects slowing smartphone growth and the expansion of new markets driven by automobiles and IoT. - FY2016First statedAnnual report
「The electronics industry to which our group belongs is one of the most globalized industries, alongside the automotive industry. In recent years, while the developed markets that have driven the market to date have matured and stagnated, consumer markets in emerging economies, particularly China and India, have expanded, and manufacturing industries in these countries have grown markedly.」
Describes the maturation of developed markets and the expansion of emerging markets such as China and India as structural facts underlying the business strategy.