Economic Slowdown in China and Emerging Markets and Demand Volatility Risk
First written in FY2016. 12 of 38 entries say "Mitigated", first in FY2017-Q2. Latest entry: FY2027-H1.
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
- FY2027-H1MitigatedAnnual report
「China: Demand remained strong against the backdrop of increased semiconductor-related investment, while demand for automation in general industry also remained firm. Although the automotive market declined from the same period of the previous year, when there were large-scale projects, demand for capital investment remained firm.」
In China, semiconductor-related investment and demand for automation in general industry remained strong or firm, while the risk of sluggish capital investment, which had been disclosed through the previous fiscal year, eased in part during the interim period. - FY2026MitigatedAnnual report
「China: Firm investment continued in the automotive market as well as in the semiconductor, machine tool and general industrial sectors, and demand remained resilient.」
Regarding China, the description changed from the previous reports of slowing domestic demand and weak capital investment to an explanation that investment in semiconductors, machine tools, general industry and automobiles was firm. - FY2026-H1MitigatedAnnual report
「China: Firm demand for capital investment in the automotive market continued, and demand for automation in general industry also remained resilient. Investment aimed at the global expansion of manufacturing operations was also increasing, and demand remained firm.」
In contrast to the stagnation in Chinese domestic demand and capital investment reported in the previous fiscal year, automotive and general industrial automation demand was explained to be firm, partially mitigating demand slowdown risk as of the interim period. - FY2025Coexistence of slowing domestic demand in China and resilient export demandAnnual report
「China: While domestic demand continued to slow, demand remained resilient, particularly for exports, and the market showed a gradual recovery toward the end of the period.」
In China, domestic demand continued to slow, while export demand remained resilient and signs of a gradual recovery emerged toward the end of the period. - FY2025-H1WorsenedAnnual report
「China: Overall demand for capital investment stagnated due to the completion of the investment cycle related to solar power generation panels and a slowdown in domestic demand.」
Regarding China, where demand had been generally resilient in the previous quarter, it was explained that overall demand for capital investment stagnated as investment related to solar power generation panels ran its course and domestic demand slowed. - FY2025-Q1MitigatedAnnual report
「China: Although investment related to solar power generation panels had run its course, demand remained generally resilient, supported by automotive-related demand and the takeoff of the semiconductor market.」
In contrast to the slowdown in the overall Chinese market recovery and stagnation in manufacturing demand reported in the previous fiscal year, demand was explained to have remained generally resilient against a backdrop of automotive-related demand and the takeoff of the semiconductor market. - FY2024WorsenedAnnual report
「China: Although firm demand was seen at the beginning of the period in some markets, including solar panel manufacturing equipment, the overall market recovery was generally slow in the second half, and demand across the manufacturing sector stagnated.」
In China, the annual results reported a slowdown in the overall market recovery and stagnation in demand across the manufacturing sector, except in some markets. - FY2024-Q3WorsenedAnnual report
「China: Although firm demand was seen at the beginning of the period in some markets, including solar panel manufacturing equipment, the overall market recovery was generally slow, and demand across the manufacturing sector stagnated.」
In China, demand in some markets, including solar panel manufacturing equipment, was firm, but the overall market recovery slowed and demand across the manufacturing sector continued to stagnate, indicating broader weakness in demand fluctuation risk. - FY2024-Q2WorsenedAnnual report
「Meanwhile, demand for semiconductors and electronic components remained sluggish, and a more cautious stance strengthened globally as the recovery in the Chinese market slowed and capital investment stagnated.」
The previous quarter had explained that capital investment in China was recovering gradually, but this quarter reported a slowdown in the Chinese market's recovery and stagnation in capital investment, compounded by weak demand for semiconductors and electronic components. - FY2024-Q1MitigatedAnnual report
「China: Normalization from the COVID-19 pandemic progressed, and capital investment recovered gradually, led by the new energy sector.」
For China, where stagnation in capital investment due to lockdowns and the zero-COVID policy had been reported in the previous fiscal year, normalization from the COVID-19 pandemic and a gradual recovery in capital investment, led by the new energy sector, were reported. - FY2023WorsenedAnnual report
「Economic activity in China stagnated due to the COVID-19 pandemic, and capital investment stagnated.」
Regarding demand and capital investment risk in China, the annual results stated that, although some markets such as EVs and lithium-ion batteries were strong, economic activity stagnated and capital investment stagnated due to the spread of infections following the end of lockdowns and the zero-COVID policy. - FY2023-Q3RestatedAnnual report
「Meanwhile, in China, capital investment stagnated due to the impact of lockdowns and the zero-COVID policy associated with the spread of the novel coronavirus.」
While demand in some Chinese markets, including EVs and new infrastructure-related areas, remained firm, capital investment continued to stagnate due to lockdowns and the zero-COVID policy. - FY2023-Q2Coexistence of normalization in China and the failure of capital investment to recover fullyAnnual report
「In China, signs of a move toward normalization from lockdowns associated with the spread of the novel coronavirus were seen, but capital investment did not achieve a full-scale recovery.」
In China, signs of a move toward normalization from lockdowns were seen, but capital investment did not achieve a full-scale recovery, and demand slowdown risk is continuing. quantified is false, materialized is true. - FY2023-Q1WorsenedAnnual report
「Meanwhile, in China, capital investment stagnated as the country was heavily affected by lockdowns associated with the spread of the novel coronavirus.」
Regarding economic and demand conditions in China, lockdowns caused capital investment to stagnate and also led to lower sales in China. quantified is false, materialized is true. - FY2022MitigatedAnnual report
「In China, active capital investment continued throughout the period, with demand remaining strong in automotive-related areas driven by the acceleration of EV adoption and in new infrastructure-related areas such as 5G and lithium-ion batteries.」
In response to the risk of an economic and capital investment slowdown in China, demand for EVs, 5G and lithium-ion batteries remained strong, and active capital investment continued. - FY2022-Q2MitigatedAnnual report
「During the second quarter, the Group's operating environment saw progress toward normalization from the COVID-19 pandemic, and manufacturers across the sector actively invested in capital equipment to upgrade and automate production. The automotive, semiconductor and electronic components markets expanded globally, while continued investment in new infrastructure related to 5G and new energy in China kept demand generally at a high level.」
It was explained that capital investment recovered across the manufacturing sector globally, including China, while demand for automobiles, semiconductors, electronic components, 5G and new energy-related products remained at high levels. - FY2022-Q1RestatedAnnual report
「Globally, normalization from the COVID-19 pandemic progressed, and capital investment across the manufacturing sector recovered strongly. In China, active investment related to new infrastructure continued, while demand for automobiles, semiconductors and electronic components remained at high levels in other regions as well.」
The continued investment in new infrastructure in China and the recovery in global demand for capital investment, automobiles, semiconductors and electronic components were reconfirmed. - FY2021MitigatedAnnual report
「China: Production activity across the manufacturing sector moved toward normalization ahead of other sectors, and active investment was made in areas related to 5G and new energy. In the automotive market, automakers also showed a trend toward expanding capital investment toward the second half.」
A recovery in demand through production normalization, 5G and new energy investment, and increased automotive investment was reported in response to the risk of an economic and capital investment slowdown in China that had emerged in the previous fiscal year. - FY2021-Q3MitigatedAnnual report
「China: Production activity across the manufacturing sector generally moved toward normalization, and active investment was made in areas related to the next-generation communications standard 5G. Demand also recovered in the automotive market, as automakers planned investments in automation.」
It was explained that demand in China recovered against a backdrop of production normalization, 5G-related investment and automakers' plans for investment in automation. - FY2021-Q2RestatedAnnual report
「China: Production activity across the manufacturing sector generally moved toward normalization, and active investment was made in areas related to the next-generation communications standard 5G. Capital investment related to public infrastructure in China also remained firm.」
In China, production normalization, 5G-related investment and public infrastructure investment progressed, while restrained capital investment continued globally. - FY2021-Q1Coexistence of normalized production and new infrastructure investment in China with weak external demandAnnual report
「Meanwhile, in China, production activity across the manufacturing sector generally moved toward normalization, and active investment was made in areas including new infrastructure.」
It was explained that production activity in China moved toward normalization and investment related to new infrastructure progressed, while external demand stagnated due to the global spread of infections. - FY2020WorsenedAnnual report
「China: Market conditions deteriorated, particularly in the automotive market, as the impact of prolonged US-China trade friction expanded. Although signs of a recovery emerged in the second half, conditions were generally severe, partly due to the impact of the novel coronavirus outbreak at the end of the period.」
In the Chinese market, deterioration in market conditions due to US-China trade friction was compounded by the impact of the novel coronavirus, resulting in confirmed deterioration in the demand environment for the full year. - FY2020-Q3WorsenedAnnual report
「China: Although signs of a recovery emerged at the beginning of the period as a result of fiscal policies such as monetary easing, market conditions deteriorated as the impact of prolonged US-China trade friction expanded. The automotive market stagnated, while demand declined substantially as manufacturers became less willing to invest in automation and labor-saving measures across production equipment.」
In China, the prolonged US-China trade friction was explicitly reported to have caused deteriorating market conditions, a stagnant automotive market, lower willingness to invest in automation and labor-saving measures, and a substantial decline in demand. - FY2020-Q2WorsenedAnnual report
「However, demand for production equipment upgrades and automation, which had been at a high level in the same period of the previous year, declined substantially as the impact of prolonged US-China trade friction expanded.」
It was explained that demand in China for production equipment upgrades and automation declined substantially from the same period of the previous year as the impact of US-China trade friction expanded. - FY2020-Q1WorsenedAnnual report
「China: Although signs of a recovery emerged as a result of fiscal policies such as monetary easing, demand for production equipment upgrades and automation, which had been at a high level in the same period of the previous year, declined because capital investment stagnated due to the impact of US-China trade friction.」
In China, signs of a recovery were seen, while stagnating capital investment due to US-China trade friction and declining demand related to automation were explicitly reported. - FY2019WorsenedAnnual report
「In addition to the sharp slowdown in smartphone-related demand, which had been strong in the previous period, manufacturers across the sector showed a tendency to hold back on capital investment due to the worsening impact of US-China trade friction and deteriorating financing conditions resulting from monetary tightening policies.」
In the Chinese market, the sharp slowdown in smartphone demand was accompanied by explicit factors restraining capital investment, including US-China trade friction and monetary tightening policies, deepening the risk of a demand slowdown. - FY2019-Q3WorsenedAnnual report
「During the period, the Group's business performance remained generally resilient despite growing signs of an economic and demand slowdown, particularly in China, as it accurately captured automotive-related demand globally.」
Despite growing signs of an economic and demand slowdown, particularly in China, including a decline in smartphone demand and restrained capital investment due to US-China trade friction, growth markets such as EVs remained firm. - FY2019-Q2Coexistence of factors slowing demand in the Chinese market and growth marketsAnnual report
「China: In addition to signs of a pause in smartphone-related demand, manufacturers across the sector took a cautious approach to capital investment due to the impact of US-China trade friction. Meanwhile, growth markets such as EVs remained firm. Demand for energy efficiency measures, driven by tighter environmental regulations, also remained resilient.」
In China, smartphone demand showed signs of leveling off and manufacturers became more cautious about capital investment due to US-China trade friction, while growth markets such as EVs and demand for energy efficiency measures remained firm. - FY2019-Q1Divergence in demand within ChinaAnnual report
「China: Although demand for capital investment related to smartphones showed signs of leveling off, demand for lithium-ion battery and home appliance applications expanded against a backdrop of production equipment upgrades and automation in the manufacturing sector. Demand related to environmental measures also remained at a high level.」
While smartphone-related demand in China showed signs of leveling off, demand in other areas, including lithium-ion batteries, home appliances and environmental measures, expanded or remained at high levels. - FY2018-Q3RestatedAnnual report
「China: Demand remained strong, driven by the further acceleration of production equipment upgrades and automation, particularly in markets related to smartphones, as well as the recovery in infrastructure investment.」
The company has continued to explain that demand in China remained strong against a backdrop of accelerated production equipment upgrades and automation and the recovery in infrastructure investment. - FY2018-Q2RestatedAnnual report
「China: Demand remained strong, driven by the acceleration of production equipment upgrades and automation, particularly in markets related to smartphones, as well as the recovery in infrastructure investment.」
The company has continued to explain that demand in China remained strong against a backdrop of production equipment upgrades and automation and the recovery in infrastructure investment. - FY2017RestatedAnnual report
「In China, demand remained strong, driven by the acceleration of production equipment upgrades and automation.」
The explanation that the Chinese economy and demand remained strong against a backdrop of production equipment upgrades and automation has continued. - FY2017-Q4RestatedAnnual report
「China remained resilient, driven by the acceleration of production equipment upgrades and automation.」
It was explained that the Chinese economy remained resilient against a backdrop of production equipment upgrades and automation. - FY2017-Q3RestatedAnnual report
「In addition, the Chinese economy recovered from the sharp downturn at the end of last year and remained resilient, driven by the acceleration of production equipment upgrades and automation.」
The recovery and resilience of the Chinese economy were reported, and the trend toward mitigation of demand decline risk is continuing. - FY2017-Q2MitigatedAnnual report
「The emerging-market economies, led by China, emerged from the sharp downturn in the second half of the previous period, and market conditions are improving.」
A recovery from the sharp downturn in the emerging-market economies, led by China, and an improving trend in market conditions were reported. However, it was also noted that the recovery in Chinese robot demand was delayed. - FY2016First statedAnnual report
「Uncertainty about the outlook increased as the emerging-market economies, led by China, lost momentum toward the second half, while the yen moved higher against other currencies from the beginning of the year.」
The slowdown in the emerging-market economies, led by China, was reported during the period and disclosed as a risk that could affect future business performance and financial condition.