Risk of declining demand for hose and tube products due to the spread of electrified vehicles
First written in FY2021. 1 of 3 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2022: 11 of 29 companies on the "Worse" side.
2 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「The Group is pursuing initiatives including the development of applications other than those for internal-combustion engines and increasing the proportion of belt products for general industrial use.」
To address the possibility that demand for belts used in internal-combustion engines may decline as electric vehicles become more widespread, the equity-method investee group is also developing applications other than those for internal-combustion engines and expanding the proportion of products for general industrial use. - FY2022RestatedAnnual report
「As awareness of environmental issues has increased, efforts to decarbonize have gathered pace and the proportion of electric vehicles is expected to rise. This may reduce sales volumes of the products currently sold by the Group. To prepare for such circumstances, the Group is continuously developing new products and applications to meet automakers’ needs for weight reduction and adaptation to new energy technologies.」
The company has again stated that the spread of electric vehicles may reduce sales volumes of existing hose and tube products, and that it is responding through the development of new products and applications. - FY2021First statedAnnual report
「As awareness of environmental issues has increased, efforts to decarbonize have gathered pace and the proportion of electric vehicles is expected to rise. Electric vehicles may no longer use the hose and tube products currently manufactured by the Group.」
The possibility that the Group’s existing hose and tube products may no longer be used as a result of decarbonization and the rising proportion of electric vehicles is identified as a new business risk.