Risk of changes to the US Inflation Reduction Act (IRA)
First written in FY2024. 4 of 6 entries say "Worsened", first in FY2025. Latest entry: FY2027-H1.
W-Scope moved to the "Worse" side of this theme in 2025.
1 other company's latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「During the current interim consolidated accounting period, the global economy was supported by resilient capital investment in various countries and expanding AI-related investment, despite higher energy prices accompanying heightened tensions in the Middle East and increasing inflationary pressures. Overall, the economy maintained a trend of moderate growth, but geopolitical risks and uncertainty in the trade environment remain.」
The Company stated that higher energy prices, inflation, geopolitical risks and uncertainty in the trade environment continue. - FY2026WorsenedAnnual report
「EV policy in the U.S. market is also accommodative only to a limited extent, and growth in the secondary battery market continues to stagnate.」
The lack of supportive U.S. EV policy is reflected in stagnant growth in the secondary battery market, and the risk of policy changes, including changes to the IRA, continues and has become more specific. - 2026-03-19WorsenedEarnings
「In the US market, battery manufacturers were shifting applications from EVs to ESS in anticipation of growing demand from large-scale data centers.」
In addition to stagnation in US EV policy, the shift by battery manufacturers from EV to ESS applications was identified as part of the business environment. - FY2026-H1WorsenedAnnual report
「EV policy in the U.S. market is also accommodative only to a limited extent, and growth in the secondary battery market continues to stagnate.」
The lack of supportive U.S. EV policy is reflected in stagnant growth in the secondary battery market as part of the business environment. - FY2025WorsenedAnnual report
「Shipments to the North American market began in the previous fourth quarter, and although EV unit sales are growing steadily, uncertainty over the outlook for subsidy policies remains strong. The Company will continue its sales activities while closely monitoring demand trends across the entire supply chain.」
The Company stated that uncertainty over the outlook for EV subsidy policies remained strong even after shipments to North America began, making the risk of policy changes, including changes to the IRA, a specific business operating concern. - FY2024First statedAnnual report
「The Inflation Reduction Act (IRA) announced by the U.S. government provided certain guidelines for the EV-related industry in the United States, but its provisions may be changed.」
The possibility of changes to the IRA was documented for the first time as a policy risk that could affect the decision to establish a North American plant and the U.S. EV-related business.