Declining market share of major customers due to the rise of local Chinese manufacturers
First written in FY2020-Q1. 6 of 12 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2024.
Yamashin-Filter Corp. moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
The whole theme swung hardest in 2024: 6 of 10 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2024WorsenedAnnual report
「Against this backdrop, in the construction machinery filter business, the Group’s core business, demand in the Chinese market declined substantially because of weak market conditions.」
While the risk of declining major-customer share due to the rise of Chinese manufacturers remains, the substantial decline in demand in China was reflected in lower sales for the fiscal year ending March 2024. - FY2024-Q1RestatedAnnual report
「In the Chinese market, demand continues to languish because of the stagnation of economic activity.」
Weak demand in the Chinese market related to the rise of Chinese manufacturers and the decline in the share of major customers continues. - FY2023WorsenedAnnual report
「In the Chinese market, demand declined substantially because of the stagnation of economic activity, and the Company’s sales decreased during the current consolidated fiscal year.」
While the risk of declining major-customer share due to the rise of Chinese manufacturers remains, the substantial decline in demand caused by stagnating economic activity in China resulted in lower full-year sales. - FY2023-Q1RestatedAnnual report
「In the Chinese market, despite an uncertain outlook, the Company has increased its track record of new product adoptions by Chinese construction machinery manufacturers, centered on its return-filter products, against the backdrop of exhaust-emissions regulations scheduled to be introduced in the second half of the fiscal year.」
While the risk of declining major-customer market share due to the rise of Chinese construction machinery manufacturers remains, the Company continues to report an increase in new adoptions of its products. - FY2022RestatedAnnual report
「In the Chinese market, against the backdrop of the introduction of exhaust-emissions regulations, the Company has increased its track record of new product adoptions by Chinese construction machinery manufacturers, centered on its return-filter products.」
While the expanding market share of Chinese manufacturers and declining share of major customers remain risks, the Company also reports an increase in new adoptions of its products by Chinese construction machinery manufacturers. - FY2021-Q3RestatedAnnual report
「In the Chinese market, while the declining trend in the market shares of each of the Company’s major customers continued and Chinese construction machinery manufacturers’ market share expanded markedly, demand increased substantially as economic activity resumed in earnest and government-led investment promotion and consumer stimulus measures, including expanded industrial subsidies, took effect. New hydraulic excavator sales reached the highest level ever recorded year on year.」
The Company states that the expanding market share of Chinese construction machinery manufacturers and the declining share of major customers have continued, while demand for hydraulic excavators across China reached a record high in terms of year-on-year unit sales. - FY2021-Q2RestatedAnnual report
「In China, while the market shares of each of the Company’s major customers contracted substantially and the market share of Chinese construction machinery manufacturers continued to expand, demand increased substantially as economic activity resumed in earnest, aided by government-led investment promotion and consumer stimulus measures, including the expansion of industrial subsidies. New hydraulic excavator sales increased substantially year on year.」
While the market share of Chinese construction machinery manufacturers continues to expand and the share of major customers continues to contract, demand for construction machinery across China has increased substantially. - FY2021-Q1WorsenedAnnual report
「In China, while the market shares of each of the Company’s major customers contracted substantially and the market share of Chinese construction machinery manufacturers continued to expand, demand overall increased. New hydraulic excavator sales rose substantially year on year from March 2020, partly because orders for the Chinese New Year period, when annual demand is highest, were pushed back, and partly because of the effects of incentives under economic stimulus measures.」
While the market share of Chinese construction machinery manufacturers continues to expand and the market shares of major customers continue to contract substantially, demand for new hydraulic excavators across China has increased significantly. - FY2020WorsenedAnnual report
「In China, while the market shares of each of the Company’s major customers contracted substantially, the market share of Chinese construction machinery manufacturers continued to expand, and overall demand increased, with new hydraulic excavator sales reaching a record high.」
The Company’s report states that the expanding market share of Chinese construction machinery manufacturers and the shrinking share of its major customers continued, with the decline in the major customers’ share described as substantial. - FY2020-Q3WorsenedAnnual report
「Against this market backdrop, the market share of Chinese construction machinery manufacturers continued to expand, while the market shares of each of the Company’s major customers were forced to contract substantially.」
The Company states that the expanding market share of Chinese construction machinery manufacturers and the contraction in the market shares of its major customers have continued, with the contraction described as substantial. - FY2020-Q2WorsenedAnnual report
「The market share of Chinese construction machinery manufacturers has expanded significantly, and as a result, the market shares of each of the Company’s major customers have been trending downward.」
The rise of local Chinese manufacturers and the decline in the market shares of major customers continue to be reported, with similar trends spreading to Southeast Asia. - FY2020-Q1First statedAnnual report
「The market share of local Chinese manufacturers has expanded significantly, and as a result, the market shares of each of the Company’s major customers have been trending downward.」
The Company identifies the expanding market share of local Chinese manufacturers and the declining market shares of its major customers as new competitive risks in the market environment during the quarter.