Political, economic and social risks at overseas sites, particularly in China
First written in FY2016. 5 of 11 entries say "Worsened", first in FY2020. Latest entry: FY2026.
Tdk moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2022: 28 of 60 companies on the "Worse" side.
10 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In particular, the Group's sales to China account for 55% of consolidated net sales. ... Production at the Group's sites in China accounts for approximately 62% of total Group production.」
Sales to China increased from 54% to 55%, and production at the Group's sites in China increased from approximately 59% to approximately 62%. Property, plant and equipment held in China also increased from ¥391.1 billion to ¥538.3 billion, while its share of total consolidated property, plant and equipment rose from 38% to 44%. - FY2025WorsenedAnnual report
「In particular, the Group's sales to China account for 54% of consolidated net sales. To establish a supply system for customers that have expanded into China and for local companies, the Group has numerous manufacturing sites in China. As a result, production at the Group's sites in China accounts for approximately 59% of total Group production.」
The concentration structure, with sales to China accounting for 54% and production at the Group's sites in China accounting for approximately 59%, was disclosed. Property, plant and equipment held in China also increased from ¥381.2 billion to ¥391.1 billion. - FY2024MitigatedAnnual report
「As the Group proceeds with this optimization of its site strategy, its property, plant and equipment held in China decreased from ¥416.4 billion in the fiscal year ended March 2023 to ¥381.2 billion in the fiscal year ended March 2024 in terms of its dependence on China.」
While the concentration structure remains in place, with sales to China accounting for more than 50% and production at the Group's sites in China accounting for approximately 59%, property, plant and equipment held in China declined further. - FY2023MitigatedAnnual report
「As the Group proceeds with this optimization of its site strategy, its property, plant and equipment held in China decreased from ¥506.3 billion in the fiscal year ended March 2022 to ¥416.4 billion in the fiscal year ended March 2023 in terms of its dependence on China.」
While the structure remains in place, with sales to China accounting for more than 50% and production at the Group's sites in China accounting for approximately 60%, property, plant and equipment held in China decreased from ¥506.3 billion to ¥416.4 billion. - FY2022WorsenedAnnual report
「In particular, the Group's sales to China account for more than 50% of consolidated net sales. To establish a supply system for customers that have expanded into China and for local companies, the Group has numerous manufacturing sites in China. As a result, the Group's property, plant and equipment held in China amounts to ¥506.3 billion, while production at its sites in China accounts for more than 60% of total Group production.」
The concentration structure, with sales to China accounting for more than 50% and production at the Group's sites in China accounting for more than 60%, has been maintained, while property, plant and equipment held in China increased from ¥417.5 billion to ¥506.3 billion. - FY2021WorsenedAnnual report
「In particular, the Group's sales to China account for more than 50% of consolidated net sales. To establish a supply system for customers that have expanded into China and for local companies, the Group has numerous manufacturing sites in China. As a result, the Group's property, plant and equipment held in China amounts to ¥417.5 billion, while production at its sites in China accounts for more than 60% of total Group production.」
Sales to China account for more than 50%, property, plant and equipment in China amounts to ¥417.5 billion, and production at the Group's sites in China accounts for more than 60% of total production, quantifying the Group's concentration of business in China more significantly than in the previous fiscal year. - FY2020WorsenedAnnual report
「In particular, the Group's sales to China account for more than 50% of consolidated net sales. To establish a supply system for customers that have expanded into China and for local companies, the Group has numerous manufacturing sites in China. As a result, the Group's property, plant and equipment held in China amounts to ¥268.7 billion, while production at its sites in China accounts for more than 50% of total Group production.」
The scale of sales to China, production and property, plant and equipment was disclosed in specific terms, making the Group's exposure to its concentration of business in China clearer. - FY2019RestatedAnnual report
「In particular, the Group has numerous manufacturing sites in China and has established a supply system for customers that have expanded into China and for local companies. If political factors such as those described above, including developments in laws and regulations, economic factors such as the sustainability of growth and the state of infrastructure, including electricity supply, or problematic events arising from the social environment occur in China, they may have a significant impact on business performance.」
The risks associated with the Group's manufacturing sites and supply system in China, as well as the political, economic and social environment, have been reconfirmed. - FY2018RestatedAnnual report
「In particular, the Group has numerous manufacturing sites in China and has established a supply system for customers that have expanded into China and for local companies. If unforeseeable political factors, such as developments in laws and regulations, economic factors, such as the sustainability of growth and the state of infrastructure, including electricity supply, or events arising from the social environment occur in China, they may have a significant impact on business performance.」
The risks associated with the Group's manufacturing sites in China and the political, economic and social environment are reconfirmed in the full-year risk disclosures. - FY2017RestatedAnnual report
「The group has numerous manufacturing sites in China, where economic development has been significant, and has established a supply system for customers expanding into China and local companies there. If an unforeseeable political, economic or social event occurs in China, it could have a material impact on business performance.」
The business structure, with numerous manufacturing sites in China, and political, economic and social environment risks are reiterated for the full year. - FY2016First statedAnnual report
「The group has numerous manufacturing sites in China, where economic development has been significant, and has established a supply system for customers expanding into China and local companies there.」
Given its structure of having numerous manufacturing sites in China, the group identifies unpredictable changes in laws and regulations, the economy and the social environment as risks.