Declining demand for cutting operations as vehicles shift to electric power
First written in FY2016. 3 of 4 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 16 of 33 companies on the "Worse" side.
21 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The external environment for the manufacturing sector is changing rapidly, including the shift to EVs and the acceleration of overseas relocation of production.」
The shift to EVs and the overseas relocation of manufacturing continue to be recognized as factors that may change demand for cutting tools and the business environment. - FY2023RestatedAnnual report
「The automotive market accounts for a substantial share of domestic demand for cutting tools. Japan has set a target for the widespread adoption of next-generation vehicles by 2030 and is promoting the adoption of electric vehicles, while the shift from engine-powered vehicles to EVs is progressing worldwide. As the shift to EVs advances, cutting operations may decline, potentially reducing demand for cutting tools.」
The potential decline in demand for cutting operations and cutting tools resulting from the shift to EVs continues to be presented in relation to the 2030 target for the adoption of next-generation vehicles. - FY2018RestatedAnnual report
「If automobiles shift from engines to electric vehicles powered by motors, the volume of cutting operations may decline.」
The potential decline in demand for cutting operations and cutting tools resulting from the shift to electric vehicles is reiterated. - FY2016First statedAnnual report
「If automobiles shift from engines to electric vehicles powered by motors, the volume of cutting operations may decline.」
This indicates that changes in automotive powertrain technology may reduce demand for cutting tools.