Business Performance Fluctuations Driven by Overall Industrial Capital Investment Trends
First written in FY2016. 7 of 31 entries say "Worsened", first in FY2020-Q1. Latest entry: FY2026.
Amada moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 60 of 75 companies on the "Worse" side.
10 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Operating profit was ¥44,798 million, down 8.7% from the previous fiscal year, due in part to higher costs, including the impact of US tariffs and rising personnel expenses.」
The impact of US tariff policy, previously described as a potential future risk, materialized as a factor reducing operating profit through higher costs. - 2026-05-14WorsenedEarnings
「During the consolidated fiscal year under review, the business environment surrounding the Group remained uncertain, against a backdrop of the impact of U.S. tariff policies and heightened tensions in the Middle East.」
In addition to the impact of U.S. tariff policies, heightened tensions in the Middle East were identified as a business-environment risk for the full year. - FY2026-H1WorsenedAnnual report
「The global economic outlook remains uncertain as the impact of US tariff policy becomes increasingly apparent, compounded by prolonged geopolitical risks.」
The report has moved from describing the potential effects of US policy and geopolitical risks to stating that the impact of US tariff policy is becoming increasingly apparent. - FY2025WorsenedAnnual report
「The global economic outlook may become more uncertain as US policy developments and heightened geopolitical risks affect corporate appetite for capital investment and supply chains.」
In addition to the previously cited risks from inflation, monetary tightening and geopolitical factors, the report newly identifies the potential impact of policy changes by the new US administration, tariffs and trade friction on capital investment and supply chains. - FY2025-H1RestatedAnnual report
「The operating environment surrounding the group remains uncertain due to elevated interest rates in the United States and Europe, the prolonged war in Ukraine and heightened geopolitical risks arising from escalating tensions in the Middle East.」
The report continues to cite uncertainty over the outlook due to high interest rates in the United States and Europe, the situation in Ukraine, tensions in the Middle East and geopolitical risks. - FY2024Macroeconomic uncertainty alongside resilient demand and order backlogsAnnual report
「During the current consolidated fiscal year, the operating environment surrounding the group remained uncertain due to global inflation, rapid interest-rate hikes in the United States and Europe, geopolitical risks including the prolonged Russian invasion of Ukraine and heightened tensions in the Middle East. Meanwhile, supply-chain rebuilding driven by geopolitical and geoeconomic risks stimulated capital investment demand, while demand for the group's energy-saving, automated and high-productivity products remained firm as companies addressed labor shortages, soaring energy prices and environmental concerns.」
While uncertainty due to inflation, interest-rate hikes and geopolitical risks persisted, demand for capital investment in supply-chain rebuilding and the group's energy-saving, automation and high-productivity products remained firm. - FY2024-Q3Macroeconomic uncertainty alongside resilient capital investment and order backlogsAnnual report
「During the third quarter of the current cumulative consolidated period, the outlook remained uncertain due to continued monetary tightening to contain inflation, concerns over a downturn in overseas economies and geopolitical risks. However, capital investment across manufacturing remained firm for energy-saving, automation and high-productivity products, while the normalization of production activity helped reduce order backlogs.」
While uncertainty continued due to monetary tightening, concerns over an economic downturn and geopolitical risks, capital investment for energy-saving, automation and high-productivity products remained firm, and order backlogs were worked down. - FY2024-Q2RestatedAnnual report
「During the second quarter of the current cumulative consolidated period, the global economy remained uncertain after rapid monetary tightening to address inflation. Meanwhile, governments in various countries advanced fiscal support, including measures to attract companies in connection with changes in industrial structures centered on clean energy and the rebuilding of supply chains.」
While the report continued to cite uncertainty over the outlook due to inflation and rapid monetary tightening, it also noted fiscal support in various countries related to clean energy and supply-chain rebuilding. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current cumulative consolidated period, the global economy remained uncertain as sustained monetary tightening continued against a backdrop of persistently high inflation.」
Persistently high inflation and monetary tightening continued to be cited as risks to the capital investment and economic environment due to the resulting uncertainty over the outlook. - FY2023Resilient capital investment demand alongside concerns over an economic slowdownAnnual report
「Although concerns over an economic slowdown and weaker capital investment appetite persisted due to soaring energy prices, continuing supply-chain disruption and resulting shortages of materials, demand for capital investment related to productivity improvements and automation remained firm, supported by supply-chain rebuilding in response to geopolitical risks and efforts to address social issues.」
While concerns over an economic slowdown and weaker capital investment appetite persisted, demand for capital investment related to supply-chain rebuilding, productivity improvements and automation remained firm. - FY2023-Q3Resilient capital investment demand alongside concerns over an economic slowdownAnnual report
「Although concerns arose over an economic slowdown as soaring energy prices, continuing supply-chain disruption and resulting shortages of materials weakened the appetite for capital investment amid uncertainty over the outlook, demand for capital investment in environmental initiatives and productivity improvements remained firm. This was supported by the transition to a decarbonized society to address social issues and the relocation of manufacturing to Japan and neighboring countries through supply-chain restructuring in response to geopolitical risks.」
While soaring energy prices, material shortages and concerns over an economic slowdown persisted, demand for environmental investment and productivity-enhancing investment remained firm, supported by decarbonization and supply-chain restructuring. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current cumulative consolidated period, capital investment remained firm across a broad range of industries as economic activity normalized in countries worldwide. However, the outlook remained uncertain amid higher resource prices resulting from the prolonged Russian invasion of Ukraine, as well as continuing inflation and interest-rate hikes.」
Capital investment remained firm across a broad range of industries, while higher resource prices and continuing inflation and interest-rate hikes added to the factors clouding the outlook. - FY2023-Q1Resilient capital investment demand alongside supply constraintsAnnual report
「As economic activity normalized, capital investment remained firm across a broad range of industries surrounding the group. However, uncertainty over the outlook continued due to prolonged supply constraints, higher prices for materials and resources, and the prolonged Russian invasion of Ukraine.」
Capital investment remained firm across a broad range of industries, while supply constraints, higher material and resource prices, and uncertainty related to Russia's invasion of Ukraine persisted. - FY2022MitigatedAnnual report
「During the current consolidated fiscal year, the global economy recovered, particularly in developed countries, supported by the wider rollout of COVID-19 vaccines, government fiscal policies and central-bank monetary easing, among other factors, and capital investment also improved substantially. However, as the economic effects of emerging variants and supply constraints affecting components and materials became apparent, geopolitical issues such as Russia's invasion of Ukraine also arose, and economic growth showed signs of slowing toward the end of the fiscal year.」
Capital investment improved substantially, particularly in developed countries, and orders recovered to ¥375,040 million, while uncertainty over the outlook persisted due to supply constraints and geopolitical issues. - FY2022-Q3Recovery in capital investment alongside an uncertain outlookAnnual report
「During the third quarter of the current cumulative consolidated period, the global economy recovered, particularly in developed countries, supported by the wider rollout of vaccines, government fiscal policies and central-bank monetary easing, among other factors. Capital investment also improved substantially. However, the effects of the spread of the Omicron variant, prolonged labor shortages and supply constraints affecting components and materials are becoming apparent, and uncertainty over the outlook remains unresolved.」
Capital investment, which had remained weak through the previous fiscal year, improved substantially, particularly in developed countries, while uncertainty remained due to the Omicron variant, labor shortages and supply constraints affecting components and materials. - FY2022-Q2MitigatedAnnual report
「Capital investment generally showed signs of recovery, despite labor shortages and concerns over the supply of components and materials.」
The report states that capital investment is generally recovering, although labor shortages and concerns over the supply of components and materials remain. - FY2022-Q1MitigatedAnnual report
「Orders for capital goods and corporate appetite for capital investment also increased, and machinery orders showed strong growth, including carried-over demand.」
While weakness in capital investment due to COVID-19 and other factors had been noted through the previous fiscal year, the report states that appetite for capital investment and machinery orders recovered and expanded, particularly in North America and Europe. - FY2021MaterialisedAnnual report
「The group's results for the current consolidated fiscal year were orders of ¥255,190 million, down 15.8% from the previous fiscal year, and revenue of ¥250,448 million, down 21.8%.」
The ongoing weakness in capital investment associated with the spread of COVID-19 and other factors continued to be reflected in full-year declines in orders and revenue. - FY2021-Q3MitigatedAnnual report
「During the third quarter of the current cumulative consolidated period, economic activity stagnated worldwide amid the spread of COVID-19, and capital investment generally remained weak, although some regions began to show signs of recovery in the second half of the fiscal year.」
Capital investment generally remained weak, but the report notes that some regions began to show signs of recovery in the second half of the fiscal year, representing a partial easing from the previous quarter. - FY2021-Q2MitigatedAnnual report
「During the second quarter of the current cumulative consolidated period, economic activity stagnated worldwide amid the spread of COVID-19, and capital investment generally remained weak, although some regions began to show improvement in the second quarter.」
Capital investment generally remained weak, but the report notes signs of improvement and recovery in some regions, including the United States, Europe and China, in the second quarter, partially easing the across-the-board deterioration seen in the previous quarter. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current cumulative consolidated period, the global economy entered negative growth as economic activity stagnated worldwide amid the spread of COVID-19, resulting in a substantial decline in capital investment.」
The deterioration in the capital investment environment was described as a worldwide stagnation in economic activity and a substantial decline in capital investment caused by the spread of COVID-19. Orders fell 30.9% year on year, while revenue fell 26.5%. - FY2020MaterialisedAnnual report
「The group's results for the current consolidated fiscal year were orders of ¥303,179 million, down 9.6% from the previous fiscal year, and revenue of ¥320,112 million, down 5.3%.」
The slowdown in the capital investment environment was reflected in full-year results as declines in orders and revenue. A slowdown or greater caution in capital investment was indicated in China, Europe and Japan, among other regions. - FY2020-Q2WorsenedAnnual report
「During the second quarter of the current cumulative consolidated period, the global economic outlook became more uncertain due to the impact of US-China trade friction and other factors. Although the United States saw solid economic growth, growth slowed in China and some neighboring countries, and signs of a slowdown emerged in capital investment, particularly in manufacturing. In Europe, manufacturing sentiment deteriorated due to uncertainty surrounding Brexit and the sluggish German economy. Against this backdrop, some caution emerged in Japan's capital investment, although it remained generally firm.」
In addition to China and neighboring countries, the report notes deteriorating manufacturing sentiment in Europe and greater caution over capital investment in Japan, indicating that concerns about the capital investment environment have broadened from the previous quarter. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the current cumulative consolidated period, the global economy faced heightened uncertainty over its outlook as trade issues between the United States and China intensified. As a result, some capital investment weakened in the United States and Europe, while concerns over a slowdown in the Chinese economy intensified in Asia and spread to neighboring countries. Japan's economy also showed signs of greater caution in some areas of capital investment.」
In addition to the previously noted caution over capital investment in China, the report describes weakness in capital investment in the United States and Europe, greater caution in Japan, and spillover effects on neighboring countries, indicating broader concerns about the capital investment environment. - FY2019-Q3China takes a more cautious approach to capital investmentAnnual report
「In China, economic growth slowed under the impact of trade issues and worsening corporate liquidity, and manufacturers in particular became more cautious about new capital investment. The slowdown in the Chinese economy also led to signs of slowing economic activity in neighboring countries.」
While capital investment was firm or recovering in Japan, the United States and Europe, new capital investment in China became more cautious. - FY2018Domestic orders increased, but annual revenue fell amid tight component supply and demandAnnual report
「In Japan, orders increased on the back of expanding capital investment. However, revenue was ¥130,662 million, down 0.4% year on year, as a change in accounting treatment reduced some revenue and larger, more automated production equipment, driven by rising demand for automation, together with tight component supply and demand, lengthened lead times.」
Orders increased on the back of domestic capital investment, while larger and more automated production equipment and longer lead times caused by tight component supply and demand constrained annual revenue. - FY2018-Q3Domestic capital investment remained firm, but supply shortages of components reduced revenueAnnual report
「In Japan, orders increased as capital investment remained firm. However, revenue was ¥83,629 million, down 4.8% year on year, as upgrades to production equipment driven by rising demand for automation and tight component supplies lengthened lead times.」
Domestic capital investment remained firm and orders increased, while equipment upgrades and longer lead times caused by tight component supplies constrained revenue. - FY2018-Q2European capital investment recovery and regional differences in the domestic businessAnnual report
「In Japan, capital investment remained firm, particularly among large companies, while the sheet-metal and press divisions at small and medium-sized companies also remained firm, supported by the effects of manufacturing subsidies. However, the cutting and machine-tool divisions remained weak, resulting in domestic revenue of ¥58,395 million, down 1.7% year on year. Overseas, capital investment remained strong in the United States, and signs of a recovery in capital investment emerged in Europe.」
While capital investment remained strong in the United States and showed signs of recovery in Europe, the cutting and machine-tool divisions were weak in Japan, resulting in divergent trends by region and business. - FY2018-Q1Regional divergence in capital investmentAnnual report
「In Japan, revenue was ¥19,444 million, up 0.3% year on year, as capital investment remained firm, particularly among large companies. Overseas, revenue was ¥35,148 million, up 3.2% year on year, as capital investment remained strong in North America and China began to recover on the back of upgrades to production equipment.」
Capital investment in Japan, North America and China remained firm or showed signs of recovery, while trends differed by region. - FY2017-Q3RestatedAnnual report
「However, some areas showed delayed improvement, including flat capital investment in Europe and a slowing recovery in emerging-market economies.」
Stagnant capital investment in Europe and the delayed recovery in emerging markets continue to be cited as concerns in the business environment regarding capital investment trends. - FY2016First statedAnnual report
「Although the company tends not to be significantly affected by economic fluctuations in any particular industry, capital investment trends across industries as a whole and other factors may affect its business performance.」
While its customer base is diversified across industries, the company identifies fluctuations in overall capital investment as a business performance risk.