Risk of contraction in the automotive belt market as vehicles shift to EVs
First written in FY2018. 2 of 3 entries say "Worsened", first in FY2023. Latest entry: FY2024.
Bando Chemical Industries moved to the "Worse" side of this theme in 2023, 2 years after the typical company in this theme (2021).
The whole theme swung hardest in 2022: 11 of 29 companies on the "Worse" side.
11 other companies' latest entry also says "Worsened".
- FY2024WorsenedAnnual report
「In the automotive sector, which is the Group’s main market, further progress in electrification is expected, making business portfolio reform essential to achieving sustainable growth.」
The company indicated that automotive electrification is expected to progress further and positioned business portfolio reform as essential to sustainable growth. - FY2023WorsenedAnnual report
「Within the Group’s businesses, the largest risk is considered to be the decline in sales of drive belts for auxiliary equipment in new vehicles, accompanying the shift to electric vehicles as a climate change measure.」
The risk of contraction in the automotive belt market due to the shift to electric vehicles was explicitly identified as the “largest risk” in the climate change scenario analysis. - FY2018First statedAnnual report
「As for automotive belts, which form the core of the existing business, the market is expected to contract as the shift to electric vehicles progresses,」
The company expects the core automotive belt market to contract as the shift to electric vehicles progresses.