Risk of Overseas Business Expansion Centered on China
First written in FY2016. 14 of 30 entries say "Restated". Latest entry: FY2026.
Ulvac moved to the "Worse" side of this theme in 2019.
The whole theme swung hardest in 2022: 3 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「In response to changes in the competitive environment in the Chinese market, our group had been reviewing its business operating structure. As announced in the 13 August 2025 notice titled “Discussions on the Integration of the FPD Target Business with KFMI,” we had been considering discussions with KFMI toward integrating the FPD target business.」
In response to changes in the competitive environment in the Chinese market, the group proceeded with integrating the FPD target business with a local partner and fund, consolidating management resources and shifting to a structure enabling rapid decision-making, and completed the transfer of the subsidiary's equity interest. - FY2023-Q3RestatedAnnual report
「During the cumulative consolidated period for the third quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2023-Q2RestatedAnnual report
「During the cumulative consolidated period for the second quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2022MaterialisedAnnual report
「For business assets, the rapidly changing market environment in China for the mask-blanks business for flat-panel displays (FPDs), which belongs to the vacuum application business, meant that the originally expected earnings could no longer be anticipated.」
Regarding risks associated with operations in China, expected earnings from the FPD mask-blanks business in China could no longer be anticipated, and an impairment loss of ¥2,758 million was recorded. - FY2022-Q3RestatedAnnual report
「During the cumulative consolidated period for the third quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2021-Q3RestatedAnnual report
「During the cumulative consolidated period for the third quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2021-Q2RestatedAnnual report
「During the cumulative consolidated period for the second quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2020-Q2MaterialisedAnnual report
「Although orders and sales were recorded for vacuum heat-treatment furnaces for manufacturing automotive parts, equipment for producing high-performance magnets, leak-testing equipment and other products, both order intake and sales fell below the year-earlier period due to sluggish capital investment in China and other factors.」
Sluggish capital investment in China continued to be reflected in results as order intake and sales of general industrial equipment fell below the year-earlier period. - FY2020-Q1MaterialisedAnnual report
「Although orders and sales were recorded for vacuum heat-treatment furnaces for manufacturing automotive parts, equipment for producing high-performance magnets, leak-testing equipment and other products, both order intake and sales fell below the year-earlier period due to sluggish capital investment in China and other factors.」
Sluggish capital investment in China was reflected in actual results as order intake and sales of general industrial equipment fell below the year-earlier period. - FY2019MaterialisedAnnual report
「Sales of general industrial equipment were roughly in line with the previous fiscal year, but order intake fell below the year-earlier period, partly because investments in the manufacture of high-performance magnets in China were postponed.」
The postponement of investments in the manufacture of high-performance magnets in China and other factors were reflected in actual results as full-year order intake for general industrial equipment fell below the year-earlier period. - FY2019-Q3MaterialisedAnnual report
「Sales were roughly in line with the previous fiscal year, mainly for vacuum heat-treatment furnaces for manufacturing automotive parts and leak-testing equipment. Meanwhile, order intake declined from the year-earlier period, partly because investments in the manufacture of high-performance magnets in China were postponed.」
The postponement of investments in the manufacture of high-performance magnets in China and other factors were reflected in actual results for the nine-month period as a decline in orders for general industrial equipment. - FY2019-Q2MaterialisedAnnual report
「Sales exceeded the year-earlier period, mainly for vacuum heat-treatment furnaces for manufacturing automotive parts and leak-testing equipment. Meanwhile, order intake declined from the year-earlier period, partly because investments in the manufacture of high-performance magnets in China were postponed.」
The postponement of investments in the manufacture of high-performance magnets in China continued to be reflected in actual results as a decline in orders for general industrial equipment. - FY2019-Q1MaterialisedAnnual report
「Sales exceeded the year-earlier period, mainly for vacuum heat-treatment furnaces for manufacturing automotive parts and leak-testing equipment. Meanwhile, order intake was sluggish, partly because investments in the manufacture of high-performance magnets in China were postponed.」
The postponement of investments in the manufacture of high-performance magnets in China was reflected in actual results as sluggish orders for general industrial equipment. - FY2018RestatedAnnual report
「To secure a share of the Chinese market, our group has actively entered the country and operates through local subsidiaries. Although we have established a system at these local subsidiaries to understand their individual operations and respond as appropriate, changes in various regulations, tax systems and exchange-rate systems resulting from unforeseeable changes in laws and regulations, as well as political instability, economic fluctuations and the outflow of human resources, could adversely affect our group's operating results and financial position.」
Risks related to regulations, taxation, political conditions, the economy and human resources in overseas operations, primarily in China, continued. - FY2018-Q3RestatedAnnual report
「During the cumulative consolidated period for the third quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. No quantification or occurrence of the risks was indicated. - FY2018-Q2RestatedAnnual report
「During the cumulative consolidated period for the second quarter, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It was stated that there had been no material changes in the risks associated with overseas operations, primarily in China. - FY2017RestatedAnnual report
「To secure a share of the Chinese market, our group has actively entered the country and operates through local subsidiaries. Although we have established a system at these local subsidiaries to understand their individual operations and respond as appropriate, changes in various regulations, tax systems and exchange-rate systems resulting from unforeseeable changes in laws and regulations, as well as political instability, economic fluctuations and the outflow of human resources, could adversely affect our group's operating results and financial position.」
Risk factors associated with global operations, including China, continued to be disclosed in the full-year report. - FY2017-Q2RestatedAnnual report
「Although orders and sales were recorded mainly for vacuum heat-treatment furnaces for manufacturing automotive parts, sales were below the year-earlier period, affected by the economic slowdown in China and elsewhere.」
The economic slowdown in China and elsewhere continued to affect sales of general industrial equipment, which fell below the year-earlier period. - FY2017-Q1MaterialisedAnnual report
「Although orders and sales were recorded mainly for vacuum heat-treatment furnaces for manufacturing automotive parts, sales were below the year-earlier period, affected by the economic slowdown in China and elsewhere.」
The economic slowdown in China and elsewhere was reflected in actual results as sales of general industrial equipment fell below the year-earlier period. - FY2016First statedAnnual report
「To secure a share of the Chinese market, where growth is expected, our group has actively entered the country and operates through local subsidiaries.」
Regulatory and tax systems, political instability, economic fluctuations and the outflow of human resources were listed as risk factors.