Product-Demand and Investment-Recovery Risks Arising from the Shift to Electric Vehicles
First written in FY2022. 2 of 7 entries say "Materialised", first in FY2023. Latest entry: FY2026.
Tamura moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).
The whole theme swung hardest in 2022: 11 of 29 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Although regional disparities in EV adoption remain, stable demand continued as vehicle electrification progressed.」
While demand and investment recovery risks arising from the transition to EVs remain, the assessment shifted to reflect stable demand from vehicle electrification, taking regional differences into account. - 2026-05-13ReframedFinancial Results Presentation
「A return to HEVs is a tailwind for electronic component performance」
The narrative shifted from demand declining because of the shift to EVs to identifying a return to HEVs and the launch of new products as factors supporting growth and improved profitability. - FY2026-H1RestatedAnnual report
「Although the EV market remained sluggish, stable demand for automotive-related products continued as vehicle electrification progressed.」
While the EV market remained sluggish, automotive-related demand was described as stable due to progress in vehicle electrification. - FY2025MaterialisedAnnual report
「Due to the impact of declining hybrid vehicle sales as the shift to electric vehicles accelerated in the Chinese market, the increase in the company's production volume slowed versus expectations. As profitability remained weak, we determined that there were indications of impairment. …The amount was recognized as an impairment loss.」
The decline in hybrid vehicle sales accompanying the shift to EVs and weak profitability at the Foshan plant actually occurred, and ¥33 million in impairment losses was recognized on fixed assets related to automotive step-up reactors. - FY2024-Q3MitigatedAnnual report
「Meanwhile, demand for automotive step-up reactors has been recovering, including in the North American market.」
Demand for automotive step-up reactors, against the backdrop of the shift to electric vehicles and customer production adjustments, showed signs of recovery in markets including North America, partially mitigating the demand and investment recovery risk. - FY2023MaterialisedAnnual report
「After reviewing the future recoverability of the fixed assets we own, we recognized approximately ¥1.3 billion in impairment losses as an extraordinary loss.」
Against the backdrop of the shift to electric vehicles and production adjustments by customers, approximately ¥1.3 billion in impairment losses were actually recognized on fixed assets at the plant producing automotive step-up reactors. - FY2022First statedAnnual report
「Changes in government policies and customers' business policies may alter how our Group's products are used. If the adoption and expansion of our Group's products do not progress as expected as a result, this may affect the Group's business performance and financial position, including by delaying the recovery of capital investments.」
As the transition to electric vehicles progresses in Europe and elsewhere, it was newly disclosed that changes in government policies and customer policies could cause product usage and adoption to differ from expectations, creating a risk of delayed recovery of capital investments.