Continued Investment in Large LCD Panels and Recovery in Investment to Improve Quality and Performance
First written in FY2022-Q1. 6 of 15 entries say "Worsened", first in FY2023-Q3. Latest entry: FY2026.
Aimechatec moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2025: 5 of 13 companies on the "Worse" side.
3 other companies' latest entry also says "Other".
- FY2026Revenue growth and a swing to a lossAnnual report
「Although investment demand was generally weak amid market conditions for panels, shipments progressed in response to a certain level of demand for parts, modifications and additional equipment.」
Sales in the LCD business increased to ¥2,178 million on demand for components, upgrades and expansions, but the segment recorded a loss of ¥379 million due in part to inventory write-downs, swinging from a profit in the previous year to a loss. - FY2025MitigatedAnnual report
「Although weak investment demand in response to panel market conditions continued, a certain level of shipments and orders was secured through efforts to uncover demand for components and upgrades, as well as some expansion demand for large panels.」
While weak LCD investment demand continued, demand for components and upgrades and some expansion demand for large panels secured shipments and orders. Segment profit also swung from a loss of ¥60 million in the previous year to a profit of ¥140 million. - FY2025-H1MitigatedAnnual report
「Although weak panel market conditions continued, efforts to uncover demand for components and upgrades proved effective, securing shipments and orders.」
Although weak panel market conditions continued, efforts to uncover demand for components and upgrades proved effective. The LCD business recorded sales of ¥342 million and segment profit of ¥2 million, securing orders and shipments. - FY2024WorsenedAnnual report
「Although panel market conditions appeared to be bottoming out, customers continued to review their capital investment plans, and sales and profit declined year on year due in part to shipments slipping into the following fiscal year or later.」
Continued reviews of customer capital investment plans and shipment delays resulted in a 55.6% decline in LCD business sales and a segment loss of ¥60 million. - FY2024-Q3RestatedAnnual report
「Although panel market conditions appeared to be bottoming out, customers continued to review their capital investment plans, and a notable number of orders and shipments slipped into the following quarter or later.」
While panel market conditions showed signs of bottoming out, customers continued to review their capital investment plans, and delays in orders and shipments persisted, indicating that the LCD investment environment remained weak. - FY2024-Q2RestatedAnnual report
「Although panel market conditions appeared to be bottoming out, customer investment restraint continued, and both orders and shipments were weak.」
While panel market conditions showed signs of bottoming out, customer investment restraint and weak orders and shipments in the LCD business continued. - FY2024-Q1WorsenedAnnual report
「Investment restraint in response to weak panel market conditions caused by declining demand for IT equipment continued, and both orders and shipments were weak.」
LCD investment restraint continued, with both orders and shipments explicitly described as weak this time. Sales in the LCD business also fell 90.6% year on year. - FY2023WorsenedAnnual report
「In the LCD business, significant new equipment investment cannot be expected, but demand from customers for refurbishment and replacement of existing equipment continues.」
The company explicitly stated that no significant new capital investment demand for LCD could be expected, indicating a further weakening from previously firm investment conditions toward a business environment centered on existing equipment support and after-sales services. - FY2023-Q3WorsenedAnnual report
「Customer investment restraint in response to weak panel market conditions caused by declining demand for IT products resulted in weak orders and shipments not only for new lines but also for after-sales service (AS) projects.」
Conditions deteriorated from previously firm LCD investment and activity maintained at a certain level to weak orders and shipments for both new lines and after-sales service projects. - FY2023-Q1RestatedAnnual report
「Orders built steadily by capturing demand for capacity additions, replacement and refurbishment of medium-sized panel lines, mainly in China.」
The company indicated that it is targeting demand for expansion, replacements and upgrades of medium-sized lines rather than large-scale 10.5-generation investment, with LCD investment and orders continuing to remain firm. - FY2022-Q3SoftenedAnnual report
「Although large-scale 10.5-generation investment in China has peaked, investment related to liquid crystal displays has remained firm. Sales in the LCD business have declined, but the business has maintained a certain level of activity, including the construction of new medium- and large-sized production lines and upgrades and replacements of existing equipment.」
10.5-generation investment peaked, and sales in the LCD business also declined. However, construction of new production lines and upgrades and replacements remained at a certain level, leading to the assessment that LCD investment overall remained firm. - FY2022-Q2AdvancedAnnual report
「New projects have emerged in the large-scale 10.5-generation LCD investment in China, which had appeared to have run its course, amid tight panel supply and demand. Investment in LCD facilities other than 10.5-generation lines has also increased. In addition, investment in upgrades and replacements to improve quality and performance, which had been deferred in favor of prioritizing production, has begun to recover. Overall LCD investment has therefore remained strong, and our LCD business has maintained steady sales and orders.」
New projects emerged for large-scale 10.5-generation LCD facilities, while investment outside the 10.5-generation segment also increased. In addition to the recovery in investment in upgrades and replacements, sales and orders were described as steady. - FY2022-Q1First statedAnnual report
「Large-scale 10.5-generation investment in China continued in some areas, while investment in upgrades and replacements to improve quality and performance, which had been deferred in favor of prioritizing production, began to recover. As a result, LCD investment overall remained firm.」
LCD investment remained firm as some large-scale investment in China continued and deferred investment in upgrades and replacements began to recover.