Lower demand for ACF and bonding-related materials and weak end-product markets
First written in FY2017-Q1. 17 of 34 entries say "Restated". Latest entry: FY2026.
Dexerials moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2023: 44 of 69 companies on the "Worse" side.
7 other companies' latest entry also says "Other".
- FY2026Offsetting the pullback in display-related demand through growth in high-value-added productsAnnual report
「In anisotropic conductive films (ACF), although demand for display-use ACF was brought forward into the previous fiscal year, shape-processed ACF for high-end smartphone products used in camera modules remained strong.」
While display-use ACF continued to reflect the reversal of demand brought forward into the previous fiscal year, strong shape-processed ACF for camera modules offset the downward pressure from demand conditions. - 2026-05-13WorsenedResults
「For the fiscal year ending March 2027, uncertainty has increased in the major industries served by our products due to disruption to the global economy accompanying heightened tensions in the Middle East and the impact of soaring memory prices on the consumer IT products market.」
The impact of soaring memory prices was identified as a new uncertainty factor for the consumer IT products market. - FY2026-H1WorsenedAnnual report
「In the anisotropic conductive film (ACF) category, usage of shape-processed ACF for camera modules increased. However, revenue declined due to factors including the impact of demand being brought forward into the fourth quarter of the previous fiscal year as a result of a replacement subsidy program in China covering smartphones and other products.」
While usage of shape-processed ACF for camera modules increased, the reversal of demand brought forward by China's replacement subsidy program became evident as lower revenue from display-use ACF. - FY2025MitigatedAnnual report
「Smartphones and tablets remained firm, while the shift from LCD to OLED displays continued, particularly in smartphones in China and South Korea. Notebook PCs also remained strong due to replacement demand for products purchased in response to stay-at-home demand during the COVID-19 pandemic.」
In the consumer IT market, which had weighed on results through the previous fiscal year, smartphones and tablets remained firm, while notebook PCs also performed well due to replacement demand. - FY2025-H1MitigatedAnnual report
「Volumes of antireflection film increased, resulting in higher revenue, due to the impact of recovery from inventory adjustments in the notebook PC market and elsewhere during the previous fiscal year, as well as an increase in adopted models for automotive applications.」
The recovery from inventory adjustments in notebook PCs and other products, which had weighed on results through the previous fiscal year, became evident and led to higher volumes and revenue for antireflection film. - FY2024Although inventory adjustments were complete, the recovery in end demand remained weak.Annual report
「Although inventory adjustments that had continued since the previous fiscal year were complete for notebook PCs and tablets, the recovery in end demand was weak and difficult conditions continued.」
Although the completion of inventory adjustments was noted, the recovery in end demand remained weak, and difficult demand conditions continued throughout the fiscal year as a factor behind lower revenue from optical films and phosphor films. - FY2024-Q3RestatedAnnual report
「Sales volumes of antireflection film and phosphor film decreased due to the impact of inventory adjustments in the notebook PC and tablet markets, resulting in lower revenue.」
Inventory adjustments continued in the consumer IT products market, affecting results through lower sales volumes and revenue from optical films. Meanwhile, ACF sales volumes increased, mainly for smartphones in Greater China. - FY2024-Q2RestatedAnnual report
「Although inventory adjustments in the consumer IT products market progressed, the market remained in the process of recovery.」
Although inventory adjustments in the consumer IT products market progressed, demand conditions remained in the process of recovery, and the risks continued to affect results through lower revenue from optical films and other products. Meanwhile, particle-aligned ACF reported higher revenue due to increased volumes for smartphones in Greater China. - FY2024-Q1WorsenedAnnual report
「In the first quarter of the fiscal year, Group net sales were ¥20,858 million, down 22.1% year on year, operating profit was ¥4,864 million, down 41.4%, ordinary profit was ¥4,665 million, down 35.4%, and profit attributable to owners of the parent was ¥3,224 million, down 30.8%, as the consumer IT products market remained on the path to recovery despite progress in inventory adjustments.」
The previous demand volatility risks in the consumer IT products market continued to materialize as a market environment recovering amid inventory adjustments and as lower revenue and profit in consolidated results. - FY2023-Q2RestatedAnnual report
「In the anisotropic conductive film (ACF) category, particle-aligned ACF for displays remained firm in high-end smartphone models, while sales for mounting applications in various sensor modules such as cameras expanded, resulting in higher revenue and profit.」
Despite demand volatility risks in the consumer IT market and elsewhere, the ACF category continued to report higher revenue and profit, driven by the expansion of particle-aligned ACF for high-end smartphones and sales for sensor-module applications. - FY2023-Q1RestatedAnnual report
「In the anisotropic conductive film (ACF) category, particle-aligned ACF for displays expanded in high-end smartphone models, while sales for mounting applications in various sensor modules such as cameras also increased, resulting in higher revenue and profit.」
Despite demand volatility risks in the consumer IT market and elsewhere, higher revenue and profit continued, driven by the expansion of particle-aligned ACF for high-end smartphones and sales for sensor-module mounting applications. - FY2022MitigatedAnnual report
「In anisotropic conductive films, particle-aligned ACF for displays expanded mainly in high-end smartphone models. In addition, new products for various sensor modules such as cameras and new adoptions of particle-aligned products resulted in higher revenue and profit.」
Despite volatility risks in the end-product market, particle-aligned ACF for high-end smartphones, new products for sensor modules and new adoptions contributed to higher revenue and profit. - FY2022-Q3RestatedAnnual report
「The anisotropic conductive film category reported higher revenue and profit as products for small- and medium-sized displays, mainly particle-aligned ACF, increased, while sales for mounting applications in various sensor modules such as cameras also expanded.」
The impact of declining-demand risks continued to be mitigated by increased sales of particle-aligned ACF for small- and medium-sized displays and mounting applications in sensor modules. - FY2022-Q2MitigatedAnnual report
「The anisotropic conductive film category reported higher revenue and profit as products for small- and medium-sized displays, mainly particle-aligned ACF, increased, while sales for mounting applications in various sensor modules such as cameras also expanded.」
Despite severe conditions and demand volatility risks in the end-product market, the ACF category reported higher revenue and profit due to increased sales of particle-aligned ACF for small- and medium-sized displays and mounting applications in sensor modules. - FY2022-Q1MitigatedAnnual report
「During the first quarter of the current fiscal year, the anisotropic conductive film category reported higher revenue and profit as sales for small- and medium-sized displays expanded, mainly driven by particle-aligned ACF.」
Despite risks from volatility and sluggishness in the end-product market, the anisotropic conductive film category reported higher revenue and profit due to the expansion of products for small- and medium-sized displays, mainly particle-aligned ACF. - FY2021RestatedAnnual report
「In anisotropic conductive films, products for notebook PCs, tablets and televisions increased, while particle-aligned ACF expanded in high-end smartphone models. Together with improved productivity, this resulted in higher revenue and profit.」
Despite structural volatility risks in the consumer IT market, ACF reported higher revenue and profit, driven by stay-at-home demand, particle-aligned ACF for high-end smartphones, and improved productivity. - FY2021-Q3RestatedAnnual report
「Meanwhile, in the anisotropic conductive film category, products for notebook PCs, tablets and televisions increased, while particle-aligned ACF expanded in high-end smartphone models. In addition, improved productivity through the second quarter contributed to higher revenue and profit for the category as a whole.」
Despite the existing risks related to the consumer IT products market, the ACF category continued to report higher revenue and profit, driven by stay-at-home demand, the expansion of particle-aligned ACF in high-end smartphones, and improved productivity. - FY2021-Q2RestatedAnnual report
「Meanwhile, in the anisotropic conductive film category, products for notebook PCs, tablets and televisions increased due to stay-at-home demand. Particle-aligned ACF also expanded in high-end smartphone models, and together with improved productivity, this resulted in higher revenue and profit for the category as a whole.」
While the previous demand risks related to the consumer IT products market were noted, cumulative results for the quarter showed higher revenue and profit in the ACF category, driven by stay-at-home demand, the expansion of particle-aligned ACF in high-end smartphones, and improved productivity. - FY2021-Q1RestatedAnnual report
「Meanwhile, in the anisotropic conductive film category, products for notebook PCs and televisions increased due to stay-at-home demand. Particle-aligned ACF also expanded in smartphones, and together with improved productivity, this resulted in higher revenue and profit for the category as a whole.」
Despite the continuing impact of the consumer IT products market, ACF reported higher revenue and profit due to increased sales for notebook PCs and televisions driven by stay-at-home demand, expansion in smartphones, and improved productivity. - FY2020RestatedAnnual report
「Revenue from anisotropic conductive films increased, resulting in higher profit, as particle-aligned ACF expanded in smartphones and productivity improved.」
Despite difficult conditions in the consumer IT products market, the ACF category reported higher revenue and profit for the full fiscal year, supported by the expansion of particle-aligned ACF in smartphones and improved productivity. - FY2020-Q3MitigatedAnnual report
「The anisotropic conductive film category reported higher revenue and profit as particle-aligned ACF expanded in smartphones, supplemented by improved productivity.」
Even as severe conditions continued in the consumer IT products market, the impact of the risk of declining demand in the anisotropic conductive film category continued to be mitigated by the expansion of particle-aligned ACF in smartphones and improved productivity. - FY2020-Q2RestatedAnnual report
「The anisotropic conductive film category reported higher revenue and profit, as particle-aligned ACF gained share in smartphones and automotive applications also remained strong.」
Despite the continuing impact of the consumer IT products market, the anisotropic conductive film category continued to report higher revenue and profit from the first quarter, supported by particle-aligned ACF gaining share in smartphones and strong automotive applications. - FY2020-Q1MitigatedAnnual report
「The anisotropic conductive film category reported higher revenue and profit, as particle-aligned ACF gained share in smartphones and automotive applications also remained strong.」
Even as severe conditions continued in the consumer IT products market, the impact of the previous risk of declining demand was mitigated in this category by particle-aligned ACF gaining share in smartphones and strong automotive applications. - FY2019WorsenedAnnual report
「Although notebook PCs remained stable in the consumer IT products market, the slowdown in the smartphone market became clear, and severe business conditions continued.」
The slowdown in the smartphone market became clear, and anisotropic conductive films were affected by the consumer IT products market. Sales were flat, supported by strong automotive sales of particle-aligned ACF. - FY2019-Q3RestatedAnnual report
「However, the anisotropic conductive film category reported lower revenue and profit due to the continued severe conditions in the consumer IT products market.」
The severe conditions in the consumer IT products market continued to affect results, reflected in continued lower revenue and profit for anisotropic conductive films. - FY2019-Q2RestatedAnnual report
「However, the anisotropic conductive film category reported lower revenue and profit due to the impact of the consumer IT products market, where severe conditions continued, as well as the positive impact in the first half of the same period of the previous year from production of new smartphones being brought forward.」
The severe conditions in the consumer IT products market continued from the first quarter, resulting in lower revenue and profit for anisotropic conductive films. - FY2019-Q1WorsenedAnnual report
「However, the anisotropic conductive film category reported lower revenue and profit, due to the impact of the existing consumer IT products market, where severe conditions continued, as well as the positive impact in the previous year of production of new smartphones being brought forward.」
Severe conditions continued in the existing consumer IT products market, resulting in lower revenue and profit for anisotropic conductive films. Bonding-related materials also recorded slightly lower revenue and lower profit as the product mix changed from the contribution of profitable functional product sales in the same period of the previous year. - FY2018RestatedAnnual report
「Revenue from bonding-related materials increased, partly because functional products such as thermal conductive sheets were newly adopted for smartphones and sales remained strong. Revenue from anisotropic conductive films also increased, partly because demand for smartphone products was firm.」
Despite the previous severity of the end-product market, the adoption of functional products for smartphones and firm ACF demand continued throughout the fiscal year. - FY2018-Q3RestatedAnnual report
「The bonding-related materials category reported higher revenue and profit, partly because functional products such as thermal conductive sheets and thermosetting adhesive tapes were newly adopted for smartphones and sales remained strong. The anisotropic conductive film category, where demand for smartphone products was firm, and the surface-mount fuse category, where sales of products for power tools remained strong, also reported higher revenue and profit.」
The adoption of functional products in bonding-related materials for smartphones and firm smartphone demand for anisotropic conductive films continued to be cited, maintaining the indication of a recovery from the previous demand decline and market sluggishness. - FY2018-Q2RestatedAnnual report
「The bonding-related materials category reported higher revenue and profit, partly because functional products such as thermal conductive sheets and thermosetting adhesive tapes were newly adopted for smartphones. The anisotropic conductive film category, where demand for smartphone products was firm, and the microdevices category, where sales of inorganic materials for projectors remained strong, also reported higher revenue and profit.」
The adoption of functional products for smartphones in bonding-related materials and firm smartphone demand for anisotropic conductive films were cited, as in the previous quarter, as factors behind higher revenue and profit. - FY2018-Q1MitigatedAnnual report
「The bonding-related materials category reported higher revenue and profit, partly because functional products such as thermal conductive sheets and thermosetting adhesive tapes were newly adopted for smartphones. The anisotropic conductive film category, where demand for smartphone products was firm, and the microdevices category, where sales of inorganic materials for projectors remained strong, also reported higher revenue and profit.」
Against the previous decline in demand and sluggish market conditions for ACF and bonding-related materials, smartphone demand was firm this quarter, and new adoptions in bonding-related materials resulted in higher revenue and profit. - FY2017-Q3RestatedAnnual report
「Meanwhile, the anisotropic conductive film category, where competition intensified in non-display applications such as camera modules, and the bonding-related materials category, where the severe end-product market environment continued, reported lower revenue and lower profit, partly due to the impact of the stronger yen.」
The intensification of competition in non-display applications for ACF and the severe end-product market environment for bonding-related materials continued to be cited from the previous quarter. - FY2017-Q2WorsenedAnnual report
「Sales of surface-mount fuses for smartphones continued to grow from the first quarter. On the other hand, anisotropic conductive film for non-display applications such as camera modules, where competition intensified, was affected by the yen's appreciation, while bonding-related materials continued to face challenging conditions in end-product markets. Both recorded lower revenue and profit.」
It was stated that, in addition to the previous decline in demand and sluggish market conditions for ACF, competition had intensified in non-display applications. A severe environment continued in the end-product market for bonding-related materials. - FY2017-Q1First statedAnnual report
「However, the anisotropic conductive film and bonding-related materials categories reported lower revenue and profit, as difficult conditions in the end-product markets continued from the second half of the previous fiscal year and the stronger yen also had an impact. Revenue was ¥7,282 million, down 18.8% year on year, and operating profit was ¥695 million, down 62.7%.」
The difficult conditions in the end-product markets that had continued since the second half of the previous fiscal year became evident in lower revenue and profit in the ACF and bonding-related materials categories.