Declining Demand and Deviations from Assumptions Regarding the Business Environment
First written in FY2016. 15 of 33 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2020: 62 of 77 companies on the "Worse" side.
8 other companies' latest entry also says "Other".
- FY2026-H1Downward pressure from construction demand alongside demand related to power, automobiles and AIAnnual report
「In the domestic construction-related market, construction periods lengthened due to labor shortages associated with progress in work-style reforms and higher material prices, affecting wire demand. Meanwhile, the domestic power infrastructure market remained firm as ongoing investment toward a decarbonized society progressed. In the automotive-related market, global vehicle sales exceeded the level of the same quarter of the previous fiscal year and showed a gradual recovery trend, despite the effects of U.S. tariff policy and regional economic conditions. In the AI and semiconductor-related markets, demand remained firm, particularly for data centers, as the wider adoption of generative AI and investment in next-generation technology development accelerated.」
In construction-related applications, labor shortages and higher material prices lengthened construction periods and affected demand, while demand related to power infrastructure, global automotive markets, AI and semiconductors, and data centers was described as firm or recovering, indicating differences by end use. - FY2025RestatedAnnual report
「Domestic power infrastructure demand performed well, supported by efforts toward a decarbonized society, increased investment in semiconductor and digital fields, and progress in leveling construction activity throughout the year. Domestic construction-related demand also remained firm, as the anticipated rebound from the tight supply and demand conditions for wire in the previous fiscal year did not materialize. Meanwhile, the automotive-related market continued to be affected by an adjustment phase resulting from production and shipment suspensions by some domestic automakers.」
Firm domestic power infrastructure and construction-related demand coexisted with an adjustment phase in the automotive-related market caused by production and shipment suspensions. - FY2025-H1Firm domestic infrastructure demand alongside continued adjustments in the automotive and home appliance marketsAnnual report
「In the domestic construction-related and power infrastructure markets, demand was firmer than initially expected, supported by increased investment toward a decarbonized society and in semiconductor and digital-related fields, as well as efforts to level construction activity throughout the year. We expect this trend to continue from the second half onward. In the automotive-related market, an adjustment phase continued due to production and shipment suspensions by some domestic automakers, and the decline in vehicle sales in China also had an impact. In the white goods market, demand in China showed signs of recovery, but domestic demand remained weak.」
While the domestic construction and power infrastructure markets were firmer than expected, production and shipment suspensions and declining sales in China continued to affect the automotive-related market, and domestic demand for white goods remained weak. - FY2024RestatedAnnual report
「During the current fiscal year, the business environment surrounding our Group was characterized by persistently high raw material and energy prices amid an uncertain international outlook, while domestic economic activity normalized, wage increases accelerated, and accommodative fiscal and monetary policies provided support. Domestic markets for construction-related applications and power infrastructure remained firm, and the xEV-related market also showed signs of recovery.」
While firm domestic construction and power infrastructure markets and the recovery trend in the xEV-related market continued, uncertainty over international conditions and raw material and energy prices also persisted. - FY2024-Q3xEV recovery alongside sluggish overseas and home appliance demandAnnual report
「During the nine-month period of the current fiscal year, the business environment surrounding our Group was characterized by persistently high raw material and energy prices amid unstable international conditions, while domestic economic activity normalized, wage increases accelerated, and accommodative fiscal and monetary policies provided support. Domestic markets for construction-related applications and power infrastructure remained firm, and the xEV-related market also showed signs of recovery. Demand for industrial devices for office applications partially recovered, but wire harnesses were affected by deteriorating economic conditions in China and Vietnam and sluggish domestic demand for home appliances.」
While domestic construction and power infrastructure markets and the xEV-related market showed recovery or remained firm, wire harnesses were affected by deteriorating economic conditions in China and Vietnam and sluggish domestic demand for home appliances, indicating continued differences in the demand environment. - FY2024-Q2Recovery in xEVs alongside the fading of exceptional demand for home appliances and industrial productsAnnual report
「During the six-month period of the current fiscal year, the business environment surrounding our Group remained supported by the normalization of economic activity, accelerated wage increases, and accommodative fiscal and monetary policies, despite persistently high raw material and energy prices. Domestic markets for construction-related applications and power infrastructure remained firm, and the xEV-related market also showed signs of recovery. On the other hand, some of the COVID-related surge in demand for home appliances and industrial products, mainly overseas, subsided.」
In addition to firm domestic construction and power infrastructure markets, the xEV-related market showed signs of recovery, while the COVID-related surge in demand for home appliances and industrial products continued to fade. - FY2024-Q1Firm construction and power infrastructure demand alongside adjustments in home appliances and xEVsAnnual report
「The business environment surrounding our Group remained firm in the domestic construction-related and power infrastructure markets as economic activity normalized following the easing of restrictions related to COVID-19 and momentum toward a decarbonized society increased. At the same time, the Group was affected by higher raw material and energy prices due to the prolonged Russia-Ukraine situation and the yen's depreciation. In addition, some of the COVID-related surge in demand for home appliances and industrial products subsided, while the automotive-related market remained in an adjustment phase toward a partial recovery in demand for xEVs and other applications.」
While the domestic construction-related and power infrastructure markets remained firm, the COVID-related surge in demand for home appliances and industrial products subsided, and the automotive-related market remained in an adjustment phase for xEVs and other applications, indicating differences by end use. - FY2023RestatedAnnual report
「During the current fiscal year, the business environment surrounding our Group was supported by the normalization of economic activity following the easing of restrictions related to COVID-19 and growing momentum toward a decarbonized society, making domestic markets for construction-related applications and power infrastructure buoyant. On the other hand, amid heightened geopolitical risks due to the prolonged Russia-Ukraine situation and other factors, the Group was affected by higher raw material and energy prices and exchange-rate fluctuations, while production cuts in the automotive sector due to semiconductor supply shortages continued.」
While construction-related and power infrastructure applications were buoyant, the effects of raw material and energy prices, exchange rates and reduced automobile production coexisted. - FY2023-Q3Recovery in construction-related demand alongside reduced automobile productionAnnual report
「During the nine-month period of the current fiscal year, the business environment surrounding our Group saw construction-related demand recover as construction work resumed with the normalization of socioeconomic activity. At the same time, higher raw material and energy prices, global supply chain disruptions, and continued production cuts in the automotive sector due to semiconductor shortages persisted.」
While construction-related demand was recovering, automobile production cuts due to semiconductor shortages and supply chain disruptions continued, resulting in divergent demand conditions by end use. - FY2023-Q2MitigatedAnnual report
「As selling prices were being revised in response to higher prices for raw materials and other inputs, demand for wire for construction and electrical distribution applications recovered as construction work resumed. However, the effects of reduced automobile production continued to affect automotive wire, and overall demand remained broadly unchanged from the same quarter of the previous fiscal year.」
Demand for construction and electrical distribution applications recovered as construction work resumed, while the effects of reduced automobile production continued. Overall demand improved from a slight year-on-year decline in the previous quarter to broadly the same level as in the same quarter of the previous fiscal year. - FY2023-Q1Polarization of demand by end use and a slight decline in overall demandAnnual report
「As selling prices were being revised in response to higher prices for raw materials and other inputs, demand for wire for construction and electrical distribution applications showed signs of recovery as construction work resumed following improvements in the COVID-19 situation. However, demand for automotive wire continued to be affected by reduced automobile production, resulting in a slight year-on-year decline in overall wire and cable demand in the same quarter.」
Construction and electrical distribution applications trended toward recovery as construction work resumed, while automotive applications were affected by reduced automobile production, resulting in a slight year-on-year decline in overall wire and cable demand. - FY2022-Q3RestatedAnnual report
「In the wire and cable industry, demand for wire for construction and electrical distribution applications declined year on year in the same quarter, but demand for automotive wire and wire for electrical machinery applications driven by private-sector capital investment was generally firm, resulting in a slight year-on-year increase in overall wire and cable demand in the same quarter.」
Demand for construction and electrical distribution applications declined, while automotive and electrical machinery applications remained firm, resulting in a slight year-on-year increase in overall wire and cable demand. Polarization by end use and the recovery in overall demand are continuing. - FY2022-Q2RestatedAnnual report
「In the wire and cable industry, demand for wire for construction and electrical distribution applications continued to trend downward, but demand for automotive wire and wire for electrical machinery applications driven by corporate capital investment was generally firm, resulting in a slight year-on-year increase in overall wire and cable demand in the same quarter.」
While demand for construction and electrical distribution applications continued to decline, automotive and electrical machinery applications remained firm, resulting in a slight year-on-year increase in overall wire and cable demand. The disclosure presents both polarization by end use and a recovery in overall demand. - FY2022-Q1MitigatedAnnual report
「In the wire and cable industry, demand for wire for construction and electrical distribution applications declined, partly due to higher raw material prices. However, as demand for wire for electrical machinery and automotive applications recovered firmly, overall wire and cable demand increased slightly year on year in the same quarter.」
Although demand for construction and electrical distribution applications declined, demand for electrical machinery and automotive applications recovered, resulting in a slight year-on-year increase in overall wire and cable demand. - FY2021-Q3MitigatedAnnual report
「In the wire and cable industry, demand for automotive wire harnesses, wire for electrical machinery applications such as industrial machinery, and wire for construction and electrical distribution applications has recovered from the sharp decline in the first quarter, but overall wire and cable demand, including power applications, has not reached the previous fiscal year's level.」
While demand for automotive wire harnesses, electrical machinery applications, and construction and electrical distribution applications recovered from the sharp decline in the first quarter, overall wire and cable demand remains below the previous fiscal year's level. - FY2021-Q2MitigatedAnnual report
「In the wire and cable industry, signs of recovery are emerging from the sharp decline in the first quarter in automotive wire harnesses and wire for electrical machinery applications, including heavy electrical equipment and industrial machinery, but recovery in overall wire and cable demand remains limited.」
Following the sharp decline in the first quarter, signs of recovery were seen in automotive wire harnesses and wire for electrical machinery applications. Meanwhile, recovery in overall wire and cable demand remains limited. - FY2021-Q1WorsenedAnnual report
「In the wire and cable industry, demand overall declined significantly as key demand sectors, including construction and electrical distribution and automotive applications, slumped sharply.」
The situation deteriorated beyond the previous fluctuations in demand by end use, with the disclosure citing a sharp slump in key demand sectors, including construction and electrical distribution and automotive applications, and a substantial decline in overall demand. - FY2020WorsenedAnnual report
「However, since the beginning of this year, the spread of COVID-19 worldwide, measures to prevent its spread, and the disappearance of inbound tourism demand have affected the domestic economy. Our Group's core businesses, construction, power and telecommunications, have also been affected by the closure of construction sites and supply chain disruptions, and we expect these effects to continue for the time being.」
In addition to the previous increases and decreases in demand by end use, construction site closures, supply chain disruptions and deferred demand related to COVID-19 have actually occurred, increasing uncertainty in the demand environment. - FY2020-Q3RestatedAnnual report
「In the wire and cable industry, overall demand was broadly unchanged from the previous fiscal year, as firm construction and electrical distribution applications and automotive applications were offset by declines in electrical machinery and other applications.」
Construction and electrical distribution applications and automotive applications remained firm, while electrical machinery and other applications declined, resulting in continued differences in demand by end use. Overall demand was broadly unchanged from the previous fiscal year. - FY2020-Q2Polarization of demand by business segmentAnnual report
「In the wire and cable industry, overall demand continued to trend upward as construction and electrical distribution applications and automotive applications remained firm. Although high-grade wire materials for electrical components and other applications remained firm, demand for winding wire overall continued to be sluggish, resulting in net sales of ¥24,757 million, down 6.6% year on year in the same quarter, and operating profit of ¥204 million, down 46.5%.」
While overall wire and cable demand continues to trend upward, demand for winding wire overall remains sluggish in the electrical components and components business, indicating divergent demand conditions by business segment. - FY2020-Q1RestatedAnnual report
「In the wire and cable industry, overall demand continued to trend upward as construction and electrical distribution applications and automotive applications remained firm.」
The disclosure states that the upward trend in overall wire and cable demand, supported by construction and electrical distribution applications and automotive applications, is continuing. - FY2019RestatedAnnual report
「In the wire and cable industry, overall demand increased slightly year on year as construction and electrical distribution applications and automotive applications remained firm.」
The recovery from the previous downward trend in demand continued during the fiscal year, and overall wire and cable demand increased slightly year on year. - FY2019-Q3RestatedAnnual report
「In the wire and cable industry, overall demand continued to trend upward as construction and electrical distribution applications and automotive applications remained firm.」
The disclosure states that the upward trend in overall wire and cable demand, supported by construction and electrical distribution applications and automotive applications, is continuing. - FY2019-Q2RestatedAnnual report
「In the wire and cable industry, overall demand continued to trend upward as construction and electrical distribution applications and automotive applications remained firm.」
The disclosure states that the upward trend in overall wire and cable demand, supported by construction and electrical distribution applications and automotive applications, is continuing. - FY2019-Q1MitigatedAnnual report
「In the wire and cable industry, overall demand continued to trend upward as construction and electrical distribution applications and automotive applications remained firm.」
The disclosure states that overall wire and cable demand shifted to an upward trend as construction and electrical distribution applications and automotive applications remained firm. - FY2018-Q3MitigatedAnnual report
「In the wire and cable industry, demand for automotive applications remained firm, and signs of recovery were seen in construction and electrical distribution applications in the third quarter, resulting in an increase in overall wire and cable demand year on year in the same quarter.」
In addition to firm automotive demand, construction and electrical distribution applications also showed signs of recovery in the third quarter, and the disclosure states that overall wire and cable demand increased year on year. - FY2018-Q2RestatedAnnual report
「In the wire and cable industry, demand for construction and electrical distribution applications was flat, while automotive and other applications remained firm, resulting in an increase in overall wire and cable demand year on year in the same quarter.」
As in the previous quarter, the disclosure states that overall wire and cable demand increased year on year, supported by firm demand for automotive and other applications. - FY2018-Q1MitigatedAnnual report
「In the wire and cable industry, overall demand increased year on year in the same quarter, as signs of recovery were seen in automotive and other applications.」
The disclosure states that, against the downward trend in overall wire and cable demand reported through the previous fiscal year, total demand increased year on year in the current quarter due to recovery in automotive and other applications. - FY2017RestatedAnnual report
「In the wire and cable industry, demand for automotive applications remained firm, but overall wire and cable demand continued to decline, mainly for construction and electrical distribution applications.」
The annual results continue to show declining demand, mainly for construction and electrical distribution applications. At the same time, firm demand is expected going forward, driven by redevelopment in the Tokyo metropolitan area. - FY2017-Q3RestatedAnnual report
「In the wire and cable industry, demand for automotive applications remained firm, but overall wire and cable demand continued to decline, mainly for construction and electrical distribution applications.」
The continued downward trend in demand outside automotive applications, particularly for construction and electrical distribution, remains disclosed. - FY2017-Q2RestatedAnnual report
「In the wire and cable industry, demand for automotive applications remained firm, but overall wire and cable demand continued to decline, mainly for construction and electrical distribution applications.」
The disclosure states that demand continues to trend downward outside automotive applications, particularly for construction and electrical distribution. - FY2017-Q1RestatedAnnual report
「In the wire and cable industry, demand for automotive applications remained firm, but demand for construction and electrical distribution, electrical machinery, exports and other applications declined, resulting in an overall downward trend in wire and cable demand.」
The disclosure states that demand continues to decline, mainly for construction and electrical distribution, electrical machinery and exports. This is not a new risk, but a continuation of the demand decline identified in the previous fiscal year. - FY2016MaterialisedAnnual report
「However, the business environment surrounding our Group diverged significantly from the conditions assumed in the medium-term management plan “GROWTH 2016,” due to factors including longer construction periods resulting from labor shortages, delays in the recovery of capital investment by power companies, and an economic slowdown in emerging markets.」
Actual demand declines and delays in the recovery of capital investment are cited as factors behind the divergence from the previous plan and the deterioration in results.