Exposure to automotive and logistics demand, economic fluctuations, and intensifying competition
First written in FY2016. 24 of 40 entries say "Restated". Latest entry: 2026-11-13.
Tensho Electric Industries moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2025: 7 of 9 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2026WorsenedAnnual report
「Approximately 70% of the Group's net sales are to Japanese automakers. If automotive production volumes at major customers decline, the Group may be unable to continue delivering its products, which could adversely affect its performance and financial condition.」
The Company states that the proportion of sales to Japanese automakers increased from approximately 50% to approximately 70%, further increasing its numerical dependence on automotive demand and production plans. - FY2026-H1MaterialisedAnnual report
「During the interim consolidated accounting period, the Japanese economy showed a moderate recovery, although the effects of US trade policy were already evident, particularly in the automotive industry. Improvements in employment and income conditions and the effects of various policies are expected to support a moderate recovery, but attention must be paid to the risk of an economic downturn resulting from the effects of US trade policy.」
The Company states that the effects of US trade policy are already evident, particularly in the automotive industry, and continues to indicate the risk of an economic downturn resulting from that policy. - FY2025External-environment risks related to US policy developments explicitly identifiedAnnual report
「However, the effects of continued inflation on personal consumption, including through weaker consumer sentiment, and the effects of US policy developments, including trade policy, pose risks of weighing on the Japanese economy. In addition, close attention must be paid to the effects of volatility in financial and capital markets.」
In addition to the existing risks related to the economy and overseas economies, the Company explicitly identifies US policy developments, including trade policy, as a factor that could weigh on the economy. - FY2025-H1Overseas economic risk factors specified in greater detailAnnual report
「However, a downturn in overseas economies, including the effects of persistently high interest rates in Europe and the United States and the continued stagnation of China's real estate market, poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to the effects of rising prices, the situation in the Middle East and fluctuations in financial and capital markets.」
In addition to the existing risks from overseas economies, rising prices, conditions in the Middle East, and volatility in financial and capital markets, the Company specifically identifies persistently high interest rates in Europe and the US and stagnation in China's property market as factors that could cause a downturn in overseas economies. - FY2024RestatedAnnual report
「However, a downturn in overseas economies, including the effects of global monetary tightening and concerns about the outlook for the Chinese economy, poses a risk of weighing on the Japanese economy. In addition, close attention must be paid to the effects of rising prices, conditions in the Middle East, and volatility in financial and capital markets.」
The Company continues to describe external-environment risks including overseas economies, the Chinese economy, rising prices, and volatility in financial and capital markets, and identifies conditions in the Middle East as a factor requiring attention. - FY2024-Q3Addition of external-environment risk factorsAnnual report
「However, amid the effects of global monetary tightening and concerns over the outlook for the Chinese economy, a downturn in overseas economies poses a risk of weighing on the Japanese economy. Close attention must also be paid to the impact of rising prices, developments in the Middle East and volatility in financial and capital markets.」
In addition to the existing risks from overseas economies, rising prices, conditions in the Middle East, and volatility in financial and capital markets, the Company explicitly identifies developments in the Middle East as a factor requiring attention in the external environment. At the same time, it states that there have been no material changes to business and other risks. - FY2024-Q2RestatedAnnual report
「However, downside risks in overseas economies, including the impact of global monetary tightening and concerns over the outlook for the Chinese economy, could weigh on Japan's economy. Close attention must also be paid to the impact of higher prices and volatility in financial and capital markets.」
The Company continues to describe external-environment risks including a downturn in overseas economies, the Chinese economy, rising prices, and volatility in financial and capital markets. - FY2024-Q1RestatedAnnual report
「However, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of weighing on the Japanese economy. In addition, close attention must be paid to the effects of rising prices and volatility in financial and capital markets.」
The Company describes risks related to economic conditions and the external environment, including a downturn in overseas economies, rising prices, and volatility in financial and capital markets. At the same time, it explicitly states that there have been no material changes to business and other risks. - FY2023RestatedAnnual report
「Approximately 50% of the Group's net sales are to Japanese automakers. If automotive production volumes at major customers decline due to the semiconductor shortage or other factors, the Group may be unable to continue delivering its products, which could adversely affect its performance and financial condition.」
The Company continues to disclose its approximately 50% sales dependence on Japanese automakers and the effects of the semiconductor shortage on production plans and deliveries as risks. - FY2023-Q3RestatedAnnual report
「In the Japan Molding-related Business, although automakers continue to suspend operations and cut production at finished-vehicle factories to which the Company delivers its products, production volumes are recovering, partly due to the effects of various policies under the living-with-COVID environment.」
While the existing demand fluctuation risk from automaker shutdowns and production cuts continues, production volumes are recovering. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that there have been no material changes to existing business and other risks, including automotive and logistics demand, economic fluctuations, and the competitive environment. - FY2023-Q1RestatedAnnual report
「In the Japan Molding-related Business, although the impact of the spread of COVID-19 has eased, automakers, the customers to which the Company delivers its products, implemented plant shutdowns and production cuts at finished-vehicle factories due to the semiconductor shortage.」
While the impact of the pandemic has eased, automakers continue to suspend operations and cut production due to the semiconductor shortage, reaffirming the impact of automotive and economic fluctuation risks. - FY2022MaterialisedAnnual report
「During the fiscal year, production adjustments were implemented, particularly at the Company's main customers in the automotive sector, as the semiconductor shortage continued due to the global resurgence of COVID-19 and other factors.」
The resurgence of infections and the semiconductor shortage resulted in production adjustments among the Company's main customers. While net sales in the Japan Molding-related Business increased 22.4%, the segment reported a loss of ¥70 million. - FY2022-Q3Pandemic impact easing, production adjustments continuingAnnual report
「During the cumulative third quarter of the fiscal year, the severe conditions in the Japanese economy caused by the spread of COVID-19 gradually eased, and signs of a recovery emerged. However, the outlook remained uncertain due to the effects of the semiconductor shortage and concerns about the spread of new variants. / However, in addition to the semiconductor shortage, the global resurgence of COVID-19 led to production adjustments, particularly at the Company's main customers in the automotive sector.」
While the impact of the spread of COVID-19 gradually eased, production adjustments among the Company's main customers continued due to the semiconductor shortage and the resurgence of infections, so the effects of automotive and economic fluctuation risks persisted. - FY2022-Q2WorsenedAnnual report
「However, in addition to the semiconductor shortage, the spread of COVID-19 in Southeast Asia led to activity restrictions for automotive-parts suppliers and plant shutdowns, among other measures, resulting in successive production adjustments, particularly at the Company's main customers in the automotive sector.」
In addition to the existing automotive-demand risks arising from the pandemic and semiconductor shortage, the Company explains that the spread of infections in Southeast Asia, activity restrictions for automotive-parts suppliers, plant shutdowns, and production adjustments occurred concurrently. It also states that there have been no material changes to business and other risks. - FY2022-Q1Pandemic impact easing, semiconductor shortage continuingAnnual report
「In the Japan Molding-related Business, although the impact of the spread of COVID-19 has eased, automakers, the customers to which the Company delivers its products, implemented plant shutdowns and production cuts at finished-vehicle factories due to the semiconductor shortage.」
While the impact of the pandemic has eased, automakers have implemented plant shutdowns and production cuts at finished-vehicle factories due to the semiconductor shortage, so risks related to automotive demand and production plans continue in a different form. - FY2021WorsenedAnnual report
「The Group's core automotive parts business may experience a significant decline in orders because of changes to customers' production plans resulting from the spread of COVID-19 and the shortage of semiconductors in the automotive industry.」
In addition to the existing risks related to automotive demand and economic fluctuations, the Company explicitly identifies changes to customers' production plans and the possibility of lower orders due to the semiconductor shortage. The effects of production cuts by automakers due to the pandemic are also reflected in full-year performance. - FY2021-Q3RestatedAnnual report
「However, demand declined significantly, particularly among the Company's main customers in the automotive sector, due to the spread of COVID-19.」
While stating that there have been no material changes to business and other risks, the Company notes that the significant decline in demand among its main customers in the automotive sector continues to affect performance. - FY2021-Q2WorsenedAnnual report
「However, demand declined significantly, particularly among the Company's main customers in the automotive sector, due to the spread of COVID-19, and the Company expects recovery to take time.」
Demand among the Company's main customers in the automotive sector continues to decline, and the Company expects recovery to take time. It indicates that the effects of the existing risks related to automotive demand and economic fluctuations are likely to persist over an extended period. - FY2021-Q1MaterialisedAnnual report
「Demand declined significantly, particularly among the Company's main customers in the automotive sector, due to the spread of COVID-19.」
The existing risks from economic fluctuations and automotive demand materialized as demand among the Company's main customers declined due to the spread of COVID-19. Net sales declined 35.6% year on year, and the Company reported an operating loss of ¥35 million, quantifying the impact of the risks. - FY2020WorsenedAnnual report
「In addition, concerns have arisen about a deterioration in economic conditions due to the spread of COVID-19, and consumer activity is expected to decline.」
In addition to the existing risks from economic fluctuations, overseas economies, and the competitive environment, the Company explicitly identifies deterioration in economic conditions and lower consumption due to the spread of COVID-19 as risks. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, the Japanese economy was expected to see continued improvements in employment and income conditions as a result of the effects of the government's various policies. However, the outlook remained uncertain due to tensions surrounding trade issues, the effects of overseas economies including the outlook for China, and the need to monitor consumer sentiment following the consumption tax rate increase.」
The Company continues to describe external-environment risks including trade issues, the Chinese economy, and consumer sentiment following the consumption tax rate increase. It also explicitly states that there have been no material changes to business and other risks. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, the Japanese economy was expected to see continued improvements in employment and income conditions as a result of the government's various policies. However, the outlook remained uncertain, given tensions surrounding trade issues, the effects of overseas economies including the outlook for China, and the need to monitor consumer sentiment following the consumption tax rate increase.」
The Company describes uncertainty arising from trade issues, the Chinese economy, and consumer sentiment following the consumption tax rate increase, while explicitly stating that there have been no material changes to business and other risks. - FY2020-Q1RestatedAnnual report
「Trade friction between the US and China has persisted, and the effects on the Japanese economy of the slowdown in the Chinese economy and other factors have begun to emerge, leaving the outlook for the economy uncertain.」
The Company continues to describe the prolonged trade friction between the US and China, the slowdown in the Chinese economy, its effects on the Japanese economy, and uncertainty about the economic outlook. - FY2019-Q3MaterialisedAnnual report
「Meanwhile, as trade friction between the US and China persists, signs of a slowdown in the Chinese economy have begun to emerge, and uncertainty about the outlook for the global economy continues.」
The Company states that, in addition to the prolonged trade friction between the US and China, signs of a slowdown in the Chinese economy have begun to emerge, making uncertainty in overseas economies more apparent. It also states that there have been no material changes to business and other risks. - FY2019-Q2WorsenedAnnual report
「Meanwhile, as trade friction between the US and China becomes increasingly serious, uncertainty about the outlook, including uncertainty in overseas economies, continues.」
The Company states that trade friction between the US and China is becoming increasingly serious and that uncertainty about the outlook, including uncertainty in overseas economies, continues. - FY2019-Q1RestatedAnnual report
「During the first three months of the consolidated fiscal year, there were no material changes concerning matters described in the quarterly securities report that could materially affect investors' decisions, or to the business and other risks described in the securities report for the previous fiscal year.」
It states that there have been no material changes to existing business and other risks or occurrences of matters that could materially affect investors' decisions. - FY2018RestatedAnnual report
「The Company manufactures and sells a range of plastic products and is affected by economic conditions in various industries, particularly demand and competition among its main customers, including automakers and logistics companies. In addition, economic and business conditions overseas affect overseas demand and competition, and directly and indirectly affect the performance of the Group.」
The Company continues to describe the risk of fluctuations in performance due to automotive and logistics demand, competition, and economic and business conditions in Japan and overseas. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes to business and other risks or occurrences of matters that could materially affect the Company. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that there have been no material changes to business and other risks or occurrences of matters that could materially affect the Company. - FY2018-Q1RestatedAnnual report
「During the first three months of the consolidated fiscal year, there were no material changes concerning matters described in the quarterly securities report that could materially affect investors' decisions, or to the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that, during the quarter, there were no material changes to existing business and other risks or occurrences of matters that could materially affect investors' decisions. - FY2017RestatedAnnual report
「The Company manufactures and sells a range of plastic products and is affected by economic conditions in various industries, particularly demand and competition among its main customers, including automakers and logistics companies. In addition, economic and business conditions overseas affect overseas demand and competition, and directly and indirectly affect the performance of the Group.」
The Company continues to describe the risk that automotive and logistics demand, competition, and economic and business conditions in Japan and overseas may affect its performance. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, the Japanese economy showed signs of a moderate recovery, including improvements in corporate earnings and employment conditions as a result of the government's economic policies. However, the outlook for the economy is becoming increasingly uncertain due to unstable financial conditions, a slowdown in the Chinese economy, the risk of policy changes accompanying the transition of the US administration, and continuing political instability in Europe.」
The Company describes uncertainty in the external environment, including the slowdown in the Chinese economy, policy changes accompanying the transition of the US administration, and political conditions in Europe. At the same time, it explicitly states that there have been no material changes to business and other risks. - FY2017-Q2RestatedAnnual report
「Under these circumstances, the Group strengthened its sales division to expand sales and focused on deepening relationships with existing customers and developing new customers. As a result, sales were ¥7,434 million, up 6.1% year on year.」
Uncertainty in the external environment continues, including the continued decline in share prices and appreciation of the yen, the US economy and monetary policy, and concerns about a downturn in overseas economies including China. It states that there have been no material changes to business and other risks. - FY2017-Q1RestatedAnnual report
「Under these circumstances, our group continued to strengthen domestic sales, improve the production operation structure and increase raw material efficiency.」
The Company describes uncertainty surrounding economic conditions and overseas demand, including the UK's decision to leave the EU, concerns about a downturn in overseas economies including China, and the continued appreciation of the yen and decline in share prices. It explicitly states that there have been no material changes to business and other risks. - FY2016First statedAnnual report
「The Company manufactures and sells a range of plastic products and is affected by economic conditions in various industries, particularly demand and competition among its main customers, including automakers and logistics companies.」
The Company discloses that demand and competition among its main customers, namely automakers and logistics companies, as well as economic conditions in Japan and overseas, may affect its performance.