Contraction in R&D and capital investment due to economic and industry trends
First written in FY2019. 13 of 22 entries say "Worsened", first in FY2021-Q2. Latest entry: 2026-08-14.
Hpc Systems moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 13 of 26 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- 2026-08-14WorsenedRevision of earnings forecasts
「However, uncertainty is expected to continue due to factors including developments in uncertain U.S. trade policy, the slowdown in the Chinese economy and supply chain disruptions caused by heightened geopolitical risks.」
U.S. trade policy, the Chinese economy, geopolitical risks and supply chain disruptions were cited as sources of uncertainty. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new matters among those concerning the business and accounting conditions described in the interim report that could have a material impact on investors' decisions, nor any material changes to the "Business and Other Risks" described in the securities report for the previous fiscal year.」
It is stated that there were no material changes to the business and other risks from the previous fiscal year. - FY2025WorsenedAnnual report
「As uncertainty surrounding US tariff policy increases, if financial and economic disruption causes the business environment to deteriorate and adversely affects the performance of customer companies, their investment plans for R&D and capital investment may be scaled back, potentially reducing revenue from both businesses and affecting the business and performance of our group.」
In addition to the existing risks related to economic conditions, R&D investment and capital investment, uncertainty over U.S. tariff policy was identified as a new uncertainty factor. - FY2025-H1WorsenedAnnual report
「The outlook remained uncertain due to elevated resource prices, a slowdown in the Chinese economy, US semiconductor restrictions on China and unstable fluctuations in foreign exchange rates.」
Elevated resource prices, the slowdown in the Chinese economy, US semiconductor restrictions on China and unstable fluctuations in foreign exchange rates were identified as factors contributing to uncertainty in the economic and customer investment environment. - FY2024Easing pandemic impact coexists with geopolitical risks and a Chinese slowdownAnnual report
「During the consolidated fiscal year, the Japanese economy remained on a gradual recovery trend as economic activity moved toward normalization and the number of visitors to Japan increased. However, the economic outlook remained uncertain due to elevated resource prices, price increases caused by yen depreciation, heightened geopolitical risks including the worsening situation in Ukraine, and a slowdown in the Chinese economy.」
Although pandemic-related constraints on economic activity receded, resource prices, yen depreciation, geopolitical risks including the situation in Ukraine and the slowdown in the Chinese economy coexisted as new factors contributing to uncertainty. - FY2024-Q3WorsenedAnnual report
「The outlook remained uncertain due to soaring resource prices resulting from the emergence of successive geopolitical risks, including the increasingly serious situations in Ukraine and the Middle East, stagnation in the Chinese economy caused by weak real estate market conditions, and sharp fluctuations in foreign exchange rates.」
In addition to the previously identified geopolitical risks, higher resource prices and foreign exchange volatility, the disclosure cited the worsening situations in Ukraine and the Middle East and stagnation in the Chinese economy caused by weak real estate market conditions, making the factors contributing to uncertainty more persistent and specific. - FY2024-Q2WorsenedAnnual report
「The outlook remained uncertain due to soaring resource prices resulting from the emergence of successive geopolitical risks, including the increasingly tense situations in Ukraine and the Middle East, concern about the outlook for the Chinese economy and sharp fluctuations in foreign exchange rates.」
In addition to the previously identified geopolitical risks and higher resource prices, the disclosure cited concern about the outlook for the Chinese economy and sharp fluctuations in foreign exchange rates, broadening the factors contributing to uncertainty. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the consolidated fiscal year, the Japanese economy showed signs of a gradual recovery as the impact of COVID-19 eased, economic activity normalized and the number of visitors to Japan increased. However, the outlook remained uncertain due to soaring resource prices resulting from the emergence of successive geopolitical risks, including the increasingly tense situations in Ukraine and the Middle East, as well as concern about a slowdown in personal consumption caused by high prices.」
Although the impact of COVID-19 eased, geopolitical risks including the situations in Ukraine and the Middle East, soaring resource prices and concern about a slowdown in personal consumption due to high prices were identified as new factors contributing to uncertainty. - FY2023WorsenedAnnual report
「In the computing industry, demand for technological innovation in areas such as computational science simulations, cloud computing, artificial intelligence (AI), deep learning and big-data processing remained firm. However, manufacturing costs were trending higher due to increases in resource prices resulting from heightened geopolitical risks, including the situation in Ukraine, and higher import costs caused by the depreciation of the yen.」
Although demand was described as firm, geopolitical risks, resource prices, yen depreciation and higher import costs continued to drive increases in manufacturing costs. - FY2023-Q2WorsenedAnnual report
「During the six-month period, the Japanese economy showed signs of a gradual recovery due to the easing of restrictions on activities related to COVID-19 and the effects of various policies. However, the outlook remained uncertain amid concern about an economic recession due to the prolonged invasion of Ukraine, historically sharp yen depreciation, rapid adjustment in foreign exchange rates following the Bank of Japan's policy adjustment, rising prices and other factors.」
Although the easing of activity restrictions supported a recovery, the disclosure added the prolonged invasion of Ukraine, historically sharp yen depreciation, rapid adjustment in foreign exchange rates following monetary policy adjustment, rising prices and concern about an economic recession as further factors contributing to uncertainty in the economic and customer investment environment. - FY2023-Q1WorsenedAnnual report
「In the computing industry, demand for technological innovation in areas such as computational science simulations, cloud computing, artificial intelligence (AI), deep learning and big-data processing remained firm. However, manufacturing costs were trending higher due to increases in resource prices resulting from heightened geopolitical risks, including the situation in Ukraine, and higher import costs caused by the rapid depreciation of the yen.」
Although demand was described as firm, geopolitical risks, higher resource prices and the rapid depreciation of the yen had emerged as increases in manufacturing costs through higher import costs. - FY2022WorsenedAnnual report
「During the fiscal year, the Japanese economy showed temporary stagnation due to the spread of COVID-19 variants, but gradual recovery was seen as economic activity resumed in stages. However, the outlook remained uncertain due to record inflation, heightened tensions surrounding Ukraine, supply chain disruptions caused by lockdowns in China, and the rapid depreciation of the yen.」
Regarding the economic and capital investment environment, the disclosure identified record inflation, the situation in Ukraine, supply chain disruptions caused by lockdowns in China and the rapid depreciation of the yen as new factors contributing to uncertainty in addition to the pandemic. - FY2022-Q3WorsenedAnnual report
「The outlook remained uncertain due to the spread of highly transmissible variants, supply chain disruptions caused by growing global inflation concerns, Russia's invasion of Ukraine and the resulting further surge in resource prices. Economic activity was curtailed to a minimum by requests from the government to refrain from nonessential activities. The prolonged closure of public research institutions such as universities, together with remote and work-from-home arrangements at private-sector laboratories and R&D centers, resulted in numerous developments including revisions to capital investment plans and delays in decision-making.」
In addition to the pandemic, inflation and supply chain disruptions, the disclosure cited Russia's invasion of Ukraine and soaring resource prices, broadening the factors contributing to uncertainty in the economic and capital investment environment. Revisions to capital investment plans and delays in decision-making also continued. - FY2022-Q2Economic recovery coexists with restrained investment and an uncertain outlookAnnual report
「During the six-month period, the Japanese economy showed signs of recovery as COVID-19 vaccinations progressed and economic activity gradually resumed in some regions. However, the outlook remained uncertain due to the spread of highly transmissible variants, soaring raw material prices, supply chain disruptions caused in part by growing global inflation concerns, and other factors. Economic activity was curtailed to a minimum by requests from the government to refrain from nonessential activities. The prolonged closure of public research institutions such as universities, together with remote and work-from-home arrangements at private-sector laboratories and R&D centers, resulted in numerous developments including revisions to capital investment plans and delays in decision-making.」
Although vaccinations and the resumption of economic activity provided support, the spread of variants, soaring raw material prices, inflation concerns, supply chain disruptions, revisions to capital investment plans and delays in decision-making coexisted. - FY2022-Q1WorsenedAnnual report
「Economic activity was curtailed to a minimum by requests from the government to refrain from nonessential activities. The prolonged closure of public research institutions such as universities, together with remote and work-from-home arrangements at private-sector laboratories and R&D centers, resulted in numerous developments including revisions to capital investment plans and delays in decision-making.」
The disclosure stated that the pandemic led to revisions of capital investment plans and delays in decision-making, against a backdrop of closures of public research institutions and remote work at corporate laboratories. - FY2021MitigatedAnnual report
「Although the COVID-19 pandemic imposed various restrictions on business activity, including travel restrictions, and extended the time required to secure orders, customer demand remained firm and components were procured without major disruption. As a result, the impact on our performance was relatively limited.」
Although business negotiations continued to take longer, customer demand and component procurement were maintained, and the impact on performance for the fiscal year was described as relatively limited. - FY2021-Q3Recovery and an uncertain outlook coexistAnnual report
「During the nine-month period, the Japanese economy showed gradual signs of recovery from the sharp decline in economic activity caused by the spread of COVID-19. However, following an increase in infections, the outlook remained uncertain, including the reissuance of a state of emergency.」
Although signs of recovery were seen from the decline in economic activity caused by the pandemic, the outlook remained uncertain due to rising infection numbers and the reissuance of a state of emergency. - FY2021-Q2WorsenedAnnual report
「However, following the resurgence of COVID-19, the outlook has become uncertain, including the reissuance of a state of emergency.」
The resurgence of the pandemic and reissuance of the state of emergency were disclosed from the previous quarter, heightening uncertainty surrounding the risks of economic weakness and reduced capital investment. - FY2021-Q1MaterialisedAnnual report
「During the first quarter, the Japanese economy remained in an extremely difficult situation, with rapid economic deterioration caused by restrictions on economic activity due to the spread of COVID-19, including a sharp decline in personal consumption and corporate capital investment.」
Regarding the previously disclosed risk of reduced economic activity and capital investment, the disclosure stated that restrictions on economic activity, a decline in corporate capital investment and an economic slowdown had in fact occurred due to the spread of the pandemic. - FY2020MitigatedAnnual report
「Although the COVID-19 pandemic imposed various restrictions on business activity, including travel restrictions, and extended the time required to secure orders, customer demand remained firm and components were procured without major disruption. As a result, the impact on our performance was relatively limited.」
Although the pandemic prolonged business negotiations and constrained economic activity, customer demand and component procurement were maintained, and the impact on performance was described as relatively limited. - FY2020-Q3MaterialisedAnnual report
「During the nine-month period, the Japanese economy was in an extremely difficult situation, with economic conditions significantly weakening due to the impact of the COVID-19 pandemic. Similarly, the global economy slowed rapidly as economic activity was constrained by the worldwide spread of the disease. Severe conditions are also expected to continue, and attention is required regarding the risk of further downside in domestic and overseas economies.」
Regarding the previously disclosed economic and industry trend risks, the disclosure stated that the pandemic had in fact weakened domestic and overseas economies and constrained economic activity. Concern was also expressed about a decline in capital investment demand. - FY2019First statedAnnual report
「If the business environment deteriorates as economic conditions change and adversely affects the performance of customer companies, their investment plans for R&D and capital investment may be scaled back, as has occurred in the past, potentially reducing revenue from both businesses and affecting our business and performance.」
Dependence on demand for HPC R&D investment and CTO capital investment was disclosed as a risk.