Fluctuations in demand conditions, particularly in China and emerging markets
First written in FY2016. 17 of 39 entries say "Worsened", first in FY2017-Q2. Latest entry: 2026-08-07.
Smc moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2019: 41 of 56 companies on the "Worse" side.
0 other companies' latest entry also says "Cited as achieved".
- FY2026Partial recovery in semiconductors and machine tools alongside postponed automotive investmentAnnual report
「The electrical equipment sector in Greater China remained strong, led by consumer electronics, LCDs and other digital equipment, while semiconductor-related demand in Japan, North America and South Korea recovered from the second half of the fiscal year. In the automotive sector, EV-related demand in Greater China remained firm, but companies in North America, Japan and Europe continued to postpone capital investment. The machine-tool sector was firm, particularly in Greater China and Japan.」
Recovery or firm demand was indicated for electrical equipment and EV-related products in Greater China, semiconductor-related products in Japan, North America and South Korea, and machine tools in Greater China and Japan. Meanwhile, postponement of capital investment continued in the automotive sectors of North America, Japan and Europe, and differences by region and application persisted. - FY2026-H1Partial recovery in China coexisted with weakness in other regionsAnnual report
「In the semiconductor and electrical equipment sectors, demand for electrical equipment in Greater China, including consumer electronics and LCDs, increased, but semiconductor-related demand in Japan, North America and South Korea did not achieve a full recovery. In the automotive sector, EV-related demand in Greater China recovered, but companies in other regions continued to postpone capital investment, partly due to the impact of U.S. tariffs. Machine-tool demand was firm in Greater China but remained in an adjustment phase in other regions. Demand from the medical equipment, food machinery and other sectors remained sluggish, despite new demand for labor-saving and automation solutions following the COVID-19 pandemic.」
While demand for electrical equipment and EV-related products in Greater China showed signs of recovery, semiconductor-related demand in Japan, North America and South Korea did not achieve a full recovery, and postponement of capital investment continued in the automotive sector in other regions due to the impact of U.S. tariffs. Differences in the demand environment by region and application continued. - FY2025WorsenedAnnual report
「In the semiconductor and electrical equipment sectors, demand for electrical equipment in Greater China, including consumer electronics and LCDs, showed signs of recovery in the second half of the fiscal year, but semiconductor-related demand in Japan, North America and South Korea did not achieve a full recovery. In the automotive sector, companies in North America, Japan and Europe continued to postpone capital investment, partly due to the U.S. presidential election and other factors. Machine-tool demand was firm in Greater China but remained in an adjustment phase in other regions.」
Semiconductor-related demand in Japan, North America and South Korea did not achieve a full recovery, while postponement of capital investment continued in the automotive sectors of North America, Japan and Europe. Although there was partial recovery in Greater China and firm demand in other regions, the demand environment remained weak, with continued differences by region and application. - FY2025-H1WorsenedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors showed signs of recovery in Asia, but remained weaker than expected in Japan, North America and Europe. In the automotive sector, demand for EV batteries in Greater China (China, Hong Kong and Taiwan) fell sharply, while companies in other regions continued to hold back on capital investment. Machine-tool demand was firm in China but remained in an adjustment phase in other regions. Demand from the medical equipment, food machinery and other sectors remained sluggish, despite new demand for labor-saving and automation solutions.」
Demand in Japan, North America and Europe in the semiconductor and electrical equipment sectors was weaker than expected, while demand for EV batteries in Greater China fell sharply. Adjustment and sluggish demand by region and application continued in machine tools, medical equipment, food machinery and other products, and the deterioration in the demand environment has continued since FY2024. - FY2024WorsenedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors continued to be affected by restraint and postponement of capital investment across regions, including Japan, Asia and North America. In the automotive sector, although EV-related investment continued, overall demand remained weak, with EV battery demand in Greater China, which had been high in the previous fiscal year, falling sharply.」
Restraint and postponement of capital investment in the semiconductor and electrical equipment sectors continued, while demand for EV batteries in Greater China fell sharply. Sales by location also declined 14.8% in Greater China from the previous period, confirming a deterioration in the demand environment for the full fiscal year. - FY2024-Q3WorsenedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors continued to be affected by restraint and postponement of capital investment across regions, including Japan, Asia and North America. In the automotive sector, although EV-related investment continued, overall demand remained weak, with EV battery demand in Greater China, which had been high in the previous fiscal year, falling sharply. The machine-tool sector remained in an adjustment phase due to weak semiconductor-related demand and China's economic slowdown. Demand from the medical equipment, food machinery and other sectors remained sluggish, despite new demand for labor-saving and automation solutions following the COVID-19 pandemic. By location, sales in Greater China (China, Hong Kong and Taiwan) declined 17% year on year for the same quarter.」
Restraint and postponement of capital investment in the semiconductor and electrical equipment sectors continued, while demand for EV batteries in Greater China fell sharply and overall automotive demand remained weak. Adjustment in the machine-tool sector and sluggish demand for medical equipment, food machinery and other products also continued, and sales in Greater China declined 17% year on year for the same quarter. The deterioration in the demand environment progressed from the previous quarter. - FY2024-Q2RestatedAnnual report
「Demand in the semiconductor and electrical equipment sectors remained weak, particularly for smartphones and PCs, and companies in Japan, Asia and North America continued to restrain or postpone capital investment, mainly in memory-related areas. In the automotive sector, global vehicle production recovered and large-scale EV-related capital investment continued, particularly in Europe and the United States, although growth in China slowed partly because of the reaction to the strong performance in the same quarter of the previous year. The machine-tool sector remained in an adjustment phase due to weak semiconductor-related demand and China's economic slowdown. Demand from the medical equipment, food machinery and other sectors remained sluggish, despite new demand for labor-saving and automation solutions following the COVID-19 pandemic.」
Restraint and postponement of capital investment in the semiconductor and electrical equipment sectors, adjustment in the machine-tool sector, and sluggish demand for medical equipment, food machinery and other products have continued. Meanwhile, global vehicle production recovered and EV investment continued in Europe and the United States, indicating continued differences by region and application. - FY2024-Q1WorsenedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors remained weak, particularly for smartphones and PCs, and companies in Japan, North America, China and other parts of Asia continued to restrain or postpone capital investment, mainly in memory-related areas. In the automotive sector, the impact of production cuts caused by shortages of semiconductors and other components eased, and demand was relatively firm, although growth in demand for EV batteries, particularly in China, slowed. The machine-tool sector remained in an adjustment phase due to China's economic slowdown and other factors. Demand from the medical equipment, food machinery and other sectors remained sluggish, despite new demand for labor-saving and automation solutions following the COVID-19 pandemic.」
Capital investment was restrained or postponed across regions in the semiconductor and electrical equipment sectors, while growth in demand for EV batteries also slowed. The machine-tool sector remained in an adjustment phase, indicating a deterioration in the demand environment. - FY2023RestatedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors was high in the first half of the fiscal year, but in the second half, amid global inflation and economic downturns, companies, particularly in Europe and the United States, began postponing capital investment.」
In the semiconductor and electrical equipment sectors, postponement of capital investment, particularly in Europe and the United States, continued during the second half of the fiscal year. The automotive sector also failed to achieve a full recovery because of component shortages. Meanwhile, demand remained for EV batteries, medical equipment, food machinery and other products, and fluctuations in the demand environment by region and application continued to be reported. - FY2023-Q3WorsenedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors was high in the first half, but in the second half, amid global inflation and economic downturns, companies, particularly in Europe and the United States, began postponing capital investment. In the automotive sector, a full recovery was not achieved because shortages of semiconductors and other components continued to have an impact, although demand related to EV batteries grew in all regions. Demand for machine tools showed signs of a pause due to the economic slowdown. Demand from the medical equipment, food machinery and other sectors remained firm, supported by new demand for labor-saving and automation solutions following the COVID-19 pandemic.」
In the semiconductor and electrical equipment sectors, capital investment was postponed, particularly in Europe and the United States, during the second half. The automotive sector also failed to achieve a full recovery because of component shortages, while machine-tool demand showed signs of a pause. Although demand for EV batteries, medical equipment, food machinery and other products remained firm, the demand environment was described as deteriorating from the previous quarter. - FY2023-Q2WorsenedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors was high during the first half, particularly in China, other Asian countries and Japan, but growth stalled from July onward, partly due to seasonal factors.」
Demand in the semiconductor and electrical equipment sectors shifted from high levels in the first half to stagnation from July onward. Meanwhile, demand remained firm for automotive EV batteries, machine tools for overseas markets, medical equipment and food machinery. - FY2023-Q1RestatedAnnual report
「Demand for automatic control equipment in the semiconductor and electrical equipment sectors remained high, particularly in China, other Asian countries and Japan. In the automotive sector, demand related to EV batteries grew, mainly in China and the United States. Machine-tool demand was generally steady in all regions except Japan, while demand from the medical equipment, food machinery and other sectors also remained firm.」
High demand in the semiconductor and electrical equipment sectors, growth in EV battery-related demand, and firm demand for machine tools, medical equipment and food machinery have continued. The improvement in the demand environment has continued from the previous fiscal year. - FY2022MitigatedAnnual report
「Demand for automatic control equipment remained high across regions, including North America, Europe and Asia, particularly in China and Japan, in the semiconductor and electrical equipment sectors. In the automotive sector, production cuts resulting from shortages of semiconductors and other components continued to have an impact, but demand related to EVs and secondary batteries grew.」
Demand in the semiconductor and electrical equipment sectors reached high levels across regions after the downturn through the previous fiscal year, while EV and secondary battery demand also grew in the automotive sector. Although production cuts caused by component shortages continued to have an impact, the overall demand environment was showing signs of improvement. - FY2022-Q2RestatedAnnual report
「Demand for automatic control equipment in semiconductor-related industries remained at high levels across all regions, including Japan, North America, Europe and Asia, particularly China. Automotive- and machine-tool-related demand remained generally firm despite the impact of shortages of semiconductors and other components. Demand related to medical equipment and food machinery was strong, supported in part by new demand for labor-saving and automation solutions following the COVID-19 pandemic.」
High semiconductor-related demand, generally firm automotive- and machine-tool-related demand, and strong demand related to medical equipment and food machinery continued. Although component shortages had an impact, no major change in direction from the prior quarter was indicated for the demand environment. - FY2022-Q1MitigatedAnnual report
「Demand for automatic control equipment in semiconductor-related industries remained at high levels across all regions, including Japan, North America, Europe and Asia, particularly China. Automotive- and machine-tool-related demand was generally strong despite some impact from semiconductor supply shortages, partly supported by increased investment related to EVs. Demand related to medical equipment and food machinery was generally firm.」
Regarding the demand environment, which had been weak through the prior fiscal year, semiconductor-related demand remained at high levels in all regions, while automotive- and machine-tool-related demand was generally strong. Although the impact of semiconductor supply shortages remained, the deterioration in the overall demand environment eased. - FY2021SoftenedAnnual report
「Demand for automatic control equipment increased significantly across all industries in China. Semiconductor-related demand was strong in every region, including other parts of Asia, North America, Europe and Japan, while automotive-related demand in North America and machine-tool-related demand in Europe, among others, turned to a recovery trend in the second half of the fiscal year.」
Demand across all industries in China, semiconductor-related demand in each region, automotive-related demand in North America and machine-tool-related demand in Europe recovered, easing the demand weakness seen through the prior fiscal year in some areas. However, weakness remained in Japan and other regions. - FY2021-Q3SoftenedAnnual report
「Demand for automatic control equipment in semiconductor-related industries remained strong in China and some parts of Asia and recovered to the prior-year level in other regions. Automotive- and machine-tool-related demand was strong in China but generally weak in other regions, including North America, Europe and Japan. Demand related to medical equipment grew significantly in China, while demand related to food machinery was generally firm.」
Although the overall demand environment remained short of an upturn in capital investment demand, semiconductor-related demand recovered to the prior-year level in other regions, and demand for automotive and machine tools in China, as well as for medical and food machinery, was firm. While signs of an easing from the demand weakness seen through the prior quarter emerged in some areas, automotive- and machine-tool-related demand remained weak in North America, Europe and Japan. - FY2021-Q2WorsenedAnnual report
「As the global economy suffered an increasingly severe blow from the spread of the novel coronavirus infection, there were no signs of an easing in tensions between the United States and China. Uncertainty over the outlook intensified further, and companies across a broad range of industries continued to restrain capital investment. Semiconductor-related demand remained strong in China but was sluggish in other regions. Automotive- and machine-tool-related demand was strong in China but remained depressed in other regions, including North America, Europe and Japan.」
As the global economy suffered an increasingly severe blow and uncertainty over the outlook intensified, semiconductor-related demand was sluggish outside China, while automotive- and machine-tool-related demand remained depressed outside China. On the other hand, firm demand was also noted for medical equipment in China and food machinery. - FY2021-Q1WorsenedAnnual report
「As the global economy suffered a severe blow from the spread of the novel coronavirus infection, uncertainty over the outlook intensified, including as tensions between the United States and China again sharpened, and companies across a broad range of industries continued to restrain capital investment. Semiconductor-related demand remained strong in China and firm in South Korea, Singapore and Japan. Automotive- and machine-tool-related demand was strong in China but remained depressed in other regions, including North America, Europe and Japan.」
Capital investment restraint continued amid uncertainty over the outlook caused by the novel coronavirus infection and tensions between the United States and China. While semiconductor-related demand was strong or firm in some regions, including China, automotive- and machine-tool-related demand remained depressed outside China, including in North America, Europe and Japan, and the deterioration in demand conditions continued. - FY2020WorsenedAnnual report
「The global economy remained in extremely difficult conditions during the current fiscal year. Uncertainty over the outlook resulting from prolonged US-China trade frictions led companies across a broad range of industries to continue restraining capital investment, and the global spread of the novel coronavirus infection after the beginning of 2020 dealt a major blow to the economy.」
The impact of the novel coronavirus infection was added to the weak demand caused by US-China trade frictions, and full-year net sales declined 8.8% year on year. Demand related to automobiles and machine tools remained weak worldwide, while semiconductor-related demand turned to a recovery trend in the second half of the fiscal year. - FY2020-Q3SoftenedAnnual report
「During the cumulative third quarter of the consolidated fiscal period (from 1 April 2019 to 31 December 2019), uncertainty over the outlook intensified because of US-China trade frictions and tensions in the Middle East, and companies across a broad range of industries continued to restrain capital investment. Demand for automatic control equipment remained generally weak despite signs of recovery in some areas. Semiconductor-related demand began to recover in North America and Asia. Automotive-related demand was relatively firm in North America but weak in other regions. Machine-tool-related demand remained depressed in all regions.」
Uncertainty over the outlook and restraint in capital investment continued, and overall demand remained weak. However, semiconductor-related demand began to recover in North America and Asia, while automotive-related demand was relatively firm in North America. Although the deterioration in demand conditions eased in some areas, demand for machine tools and other products remained depressed. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter of the consolidated fiscal period (from 1 April 2019 to 30 September 2019), uncertainty over the global economic outlook deepened as a result of US-China trade frictions and other factors. Companies across a broad range of industries restrained capital investment, and demand for automatic control equipment was generally weak. Semiconductor-related demand continued to decline significantly in Japan, North America and Asia. Automotive-related demand declined in all regions, particularly Europe and Asia. Machine-tool-related demand remained depressed in all regions.」
Demand conditions continued to deteriorate. In addition to the significant decline in semiconductor-related demand, automotive-related demand also declined, particularly in Europe and Asia, while machine-tool-related demand remained depressed in all regions. The regions and end markets affected by weak demand expanded from the prior quarter. - FY2020-Q1WorsenedAnnual report
「As uncertainty over the outlook for the global economy deepened rapidly due to US-China trade frictions and other factors, companies across a broad range of industries restrained capital investment, and demand for automatic control equipment was generally weak. Automotive-related demand was broadly firm, particularly in North America, but semiconductor-related demand declined significantly in Japan, North America and Asia, partly reflecting the strong performance in the same quarter of the prior year. Machine-tool-related demand was soft in Japan and Asia.」
The deterioration in demand conditions that began in the prior period progressed further, leaving demand generally weak. Semiconductor-related demand declined significantly in Japan, North America and Asia, while machine-tool-related demand was also soft in Japan and Asia. - FY2019WorsenedAnnual report
「In the latter half of the period, the economic slowdown intensified rapidly against a backdrop of escalating US-China trade frictions and uncertainty surrounding the UK's withdrawal from the EU. Demand for automatic control equipment among semiconductor-related industries in Japan, Asia and North America declined significantly, also reflecting the effect of a sharp increase in the prior period.」
The economic slowdown intensified rapidly in the latter half, and semiconductor-related demand declined significantly in Japan, Asia and North America. Deterioration in the demand environment was confirmed throughout the full fiscal year, following the recovery and expansion trend in the prior period. - FY2019-Q3WorsenedAnnual report
「Demand for automatic control equipment during the cumulative third quarter of the consolidated fiscal period (from 1 April 2018 to 31 December 2018) was generally soft, particularly from autumn 2018 onward, owing to a decline following the sharp increase in the prior fiscal year and the impact of intensifying US-China trade frictions. Semiconductor-related demand declined sharply in North America and South Korea and was sluggish in China. Automotive- and machine-tool-related demand remained firm in Japan and Europe but showed signs of slowing, particularly in North America and China.」
Overall demand remained soft, following the prior quarter. Semiconductor-related demand declined sharply in North America and South Korea and was sluggish in China. Automotive- and machine-tool-related demand also showed signs of slowing, particularly in North America and China, and the deterioration in demand conditions continued. - FY2019-Q2WorsenedAnnual report
「Demand for automatic control equipment during the cumulative second quarter of the consolidated fiscal period (from 1 April 2018 to 30 September 2018) was generally soft because investment sentiment deteriorated as US-China trade frictions intensified. Semiconductor-related demand declined sharply in North America and South Korea, and slowed in Japan and China from July onward. Automotive-related demand declined in North America but remained firm in other regions. Demand from the machine-tool industry remained firm in all regions.」
Investment sentiment weakened as a result of US-China trade frictions, and overall demand shifted from the firm trend in the prior period to a soft trend. Semiconductor-related demand declined sharply in North America and South Korea and slowed in Japan and China from July onward, while automotive-related demand declined in North America. - FY2019-Q1WorsenedAnnual report
「Demand for automatic control equipment during the cumulative first quarter of the consolidated fiscal period (from 1 April 2018 to 30 June 2018) was generally firm. Semiconductor-related demand was firm in Japan and China but sluggish in North America and Asia. Automotive-related demand was firm in Japan and Europe but sluggish in North America. Demand from the machine-tool industry increased in Japan, Europe and China compared with the same quarter of the prior year, but its growth rate slowed partly because of the strong performance in the prior fiscal year.」
Overall demand was described as firm, but semiconductor-related demand was sluggish in North America and Asia, automotive-related demand was sluggish in North America, and the growth rate of demand from the machine-tool industry also slowed. Compared with the broad-based demand expansion in the prior period, signs of slowing emerged by region and end market. - FY2018MitigatedAnnual report
「The global economy generally remained on a recovery trend during the current fiscal year. In the United States, economic expansion continued as consumer spending and capital investment increased. In Europe, capital investment and production activity recovered, particularly in the euro area, while China maintained a high economic growth rate as a result of various policy measures. In Japan, exports and capital investment increased and corporate performance improved as employment conditions remained stable. Demand for automatic control equipment grew significantly among semiconductor-related industries in Japan, Asia and North America, and expanded steadily across industries including electrical equipment, machine tools and automotive.」
The recovery trend in the global economy, China's sustained high growth, and expanding demand from the semiconductor, electrical equipment, machine-tool and automotive industries were noted, indicating that the risk of fluctuations in demand conditions was easing. - FY2018-Q3MitigatedAnnual report
「The global economy generally remained on a recovery trend during the cumulative third quarter of the consolidated fiscal period (from 1 April 2017 to 31 December 2017). In the United States, steady economic expansion continued as consumer spending and capital investment increased. The European economy remained solid, supported by increased exports, while China maintained a high economic growth rate as consumer spending and exports gained momentum. Demand for automatic control equipment continued to increase significantly among semiconductor-related industries in Japan, Asia and North America, while steady expansion continued across industries including automotive and machine tools.」
The global economy was generally on a recovery trend, and China maintained a high growth rate. Demand from semiconductor-related, automotive and machine-tool industries also expanded, indicating that risks in the demand environment, particularly in China and emerging markets, were easing. - FY2018-Q2RestatedAnnual report
「Although the Chinese economy was slowing moderately, it maintained a high growth rate, supported by increased exports and other factors. In Japan, the recovery in consumer spending and corporate performance continued. Demand for automatic control equipment remained firm, with significant growth among semiconductor-related industries in Japan, Asia and North America, as well as steady expansion in other industries.」
Although the Chinese economy continued to show a moderate slowing trend, it maintained a high growth rate, and demand for automatic control equipment was described as having grown significantly, mainly in semiconductor-related industries. This reconfirms the existing theme of regional differences and fluctuations in demand conditions. - FY2018-Q1MitigatedAnnual report
「In China, various policy measures and increased exports helped halt the economic slowdown, while emerging-market economies continued to grow against a backdrop of strong exports. Demand for automatic control equipment remained buoyant, mainly among semiconductor- and smartphone-related industries in Japan, Asia and North America, continuing the strong conditions seen since the second half of the prior year.」
Conditions in the Chinese economy improved from the slowing trend seen through the prior quarter to a point where the slowdown was described as having been halted. Continued growth in emerging markets and buoyant demand related to semiconductors and smartphones were also indicated, suggesting that risks in the demand environment were easing. - FY2017-Q3SoftenedAnnual report
「While economic growth in China and other Asian countries continued to slow, the US and European economies remained solid, supported by firm consumer spending. In Japan, the economy continued on a moderate recovery trend despite a lack of strength in consumer spending. Demand for automatic control equipment grew steadily, mainly among semiconductor-related industries in Asia.」
The slowdown in the Chinese and Asian economies continued, but the wording was softened from “the slowdown intensified” in the prior quarter. The solid performance of the US and European economies and steady growth in semiconductor-related demand in Asia were also noted. - FY2017-Q2WorsenedAnnual report
「In the United States and Europe, consumer spending was generally firm, while economic conditions generally slowed further in emerging and resource-producing economies, including China, and difficult conditions continued in many regions, including Russia and Brazil. Demand for automatic control equipment remained firm, mainly among the automotive and semiconductor-related industries.」
The description of economic conditions in emerging and resource-producing economies, including China, changed from “continued” to “intensified” slowing from the prior quarter. Demand for automatic control equipment was described as firm, mainly in the automotive and semiconductor-related industries. - FY2017-Q1RestatedAnnual report
「In Asia, the Indian economy remained firm, while economic conditions generally continued to slow in China, ASEAN and the NIEs. Demand for automatic control equipment remained firm, mainly among semiconductor-related industries in Asia and North America.」
While economic conditions in China, ASEAN and elsewhere continued to slow, demand related to semiconductors in Asia and North America was described as firm. This reconfirms the existing theme of regional differences and fluctuations in demand conditions. - FY2016MaterialisedAnnual report
「The slowdown in emerging-market economies intensified against a backdrop of slower growth in the Chinese economy and falling resource prices.」
The company explained that demand for semiconductor-related products in North America contracted because of uncertainty in the Chinese market, while market conditions in Greater China were generally sluggish.