Contraction of the internal combustion engine business driven by CASE and electrification
First written in FY2020. 2 of 4 entries say "Worsened", first in FY2022. Latest entry: FY2025.
Tpr moved to the "Worse" side of this theme in 2022, 1 year after the typical company in this theme (2021).
The whole theme swung hardest in 2022: 11 of 29 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「Although the rapid shift to EVs has shown signs of slowing, we expect the shift to EVs to progress over the medium to long term. To further accelerate our efforts in frontier fields, we opened the Frontier Innovation Center (FIC) in the Tokyo metropolitan area, bringing together technologies previously dispersed across the TPR Group.」
Regarding the risk of contraction in the internal combustion engine business due to electrification, although the shift to EVs has recently shown signs of slowing, the approach has changed toward reallocating technology and development resources to frontier fields on the assumption of medium- to long-term progress. - FY2023WorsenedAnnual report
「The automotive industry is undergoing an increasingly accelerated once-in-a-century transformation, including the increase in EVs, fuel diversification, and the advancement of CASE/MaaS, and is required to respond to these changes.」
The Company explains that structural changes in the internal combustion engine business driven by electrification, CASE and MaaS are accelerating further. - FY2022WorsenedAnnual report
「In addition, with the rapid advance of carbon neutrality, the automotive industry, to which the Group is primarily related, is undergoing an accelerated once-in-a-century transformation known as the increase in EVs and CASE/MaaS.」
The advancement of electrification, CASE and MaaS is being expressed more strongly as a structural change affecting the internal combustion engine business. - FY2020First statedAnnual report
「The Group's piston rings, cylinder liners and sintered products are supplied mainly for automobiles and other internal-combustion engines. If vehicle sales featuring internal-combustion engines decline as electrification and sharing advance, the Group's consolidated results may be materially affected.」
Separately from its response to rapid EV adoption, the Company identifies for the first time the decline in internal-combustion-engine vehicles resulting from electrification and mobility sharing as a business risk.