Changes in Economic Conditions and Product Demand by Country and Region
First written in FY2019. 4 of 16 entries say "Mitigated", first in FY2021-Q2. Latest entry: FY2027-H1.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
26 other companies' latest entry also says "Other".
- FY2027-H1Education ICT replacement projects increased, China healthcare was sluggish, and automotive, 5G and defense remained firmAnnual report
「Domestic automobile unit sales in the ITS and GNSS market continued to recover. Demand for mobile network base stations remained firm against a backdrop of 5G network build-out and upgrades. In the healthcare market, demand for equipment installations, including IVD (in vitro diagnostic) devices, remained sluggish, particularly in China. The domestic defense-related market in the defense equipment business expanded as the defense budget increased. In the domestic education ICT market within the wireless LAN and handheld terminal business, replacement projects for communications infrastructure equipment related to ICT development increased.」
While market conditions continued to vary by sector, domestic automotive, 5G base stations and defense recovered, remained firm and expanded, respectively. China healthcare was sluggish, while education ICT shifted toward an increase in replacement projects. - FY2026-H1Automotive, 5G, healthcare and defense remained firm; education ICT was weakAnnual report
「Domestic vehicle sales in the ITS and GNSS markets are showing signs of recovery. The number of cellular base stations remained at a high level as 5G coverage expanded. In the healthcare market, demand for installing equipment such as IVD devices (in vitro diagnostic medical devices) remained solid. In the domestic defense-related market within the defense equipment business, the market expanded as defense spending increased. In the domestic education ICT market within the wireless LAN and handheld terminal business, demand for replacing communications infrastructure equipment related to ICT development remained weak.」
Domestic vehicle sales are recovering, demand for 5G base stations and healthcare remained high and solid, and the defense market expanded, while demand for replacing communications infrastructure equipment in education ICT remained weak. - FY2025-H15G, healthcare and defense demand remained solid, while automotive and education ICT were weak.Annual report
「In the ITS and GNSS markets within the industrial business, domestic new-vehicle sales continued to be affected by production and shipment suspensions at certain automakers. Meanwhile, the installation of cellular base stations progressed both in Japan and overseas as 5G coverage expanded. In the healthcare market, demand for installing equipment such as IVD devices (in vitro diagnostic medical devices) remained solid. In the domestic defense-related market within the defense equipment business, the market expanded as defense spending increased.」
Differences by product and market continued. Domestic new-vehicle sales remained affected by production and shipment suspensions, while the 5G base station, healthcare and defense-related markets expanded or remained solid. In education ICT, demand for replacement communications infrastructure equipment was weak. - FY2025-Q1Automotive demand weak; 5G base stations and healthcare firm; defense projects increasedAnnual report
「In the ITS and GNSS business within the industrial business, domestic sales of new vehicles remained weak because of production and shipment suspensions by certain automakers, while used-vehicle sales remained firm. Installation of mobile base stations accompanying the expansion of 5G coverage also progressed both in Japan and overseas. In the healthcare business, demand for equipment installations, including IVD (in vitro diagnostic medical devices), remained firm. In the defense equipment business, the number of projects increased as defense budgets expanded.」
Product demand diverged: domestic new-vehicle sales remained weak because of production and shipment suspensions by automakers, while demand for used vehicles, 5G base stations and healthcare remained firm, and the number of defense projects increased as defense budgets expanded. - FY2024RestatedAnnual report
「Installation of mobile base stations accompanying the expansion of 5G coverage progressed both in Japan and overseas. Demand for equipment installations, including IVD (in vitro diagnostic medical devices), in the healthcare market remained firm. In Japan's education ICT market, the number of large-scale ICT infrastructure projects declined, and conditions remained weak.」
Demand for 5G base stations and healthcare remained firm, while the decline in large-scale education ICT projects continued, indicating persistent differences in demand by product and region. - FY2024-Q3RestatedAnnual report
「Domestic sales of new and used vehicles remained firm, and installation of mobile base stations accompanying the expansion of 5G coverage progressed both in Japan and overseas. Demand for equipment installations, including IVD (in vitro diagnostic medical devices), in the healthcare market remained firm. In Japan's education ICT market, the number of large-scale ICT infrastructure projects declined, and conditions remained weak.」
Automotive, 5G base station and healthcare demand remained firm, while the decline in large-scale education ICT projects and weak conditions continued. - FY2024-Q2Education ICT weak; automotive, 5G and healthcare demand firmAnnual report
「In the industrial business, domestic sales of new and used vehicles remained firm, and installation of mobile base stations accompanying the expansion of 5G coverage progressed both in Japan and overseas. Demand for equipment installations, including IVD (in vitro diagnostic medical devices), in the healthcare market remained firm. In Japan's education ICT market, the number of large-scale ICT infrastructure projects declined, and conditions remained weak.」
Demand for automotive-related products, 5G base stations and healthcare equipment installations remained firm, while large-scale education ICT projects declined and conditions remained weak. - FY2024-Q1MitigatedAnnual report
「In the industrial business, sales volumes of new and used vehicles recovered, accompanied by an increase in demand for automotive equipment. Demand for equipment installations, including IVD (in vitro diagnostic medical devices), in the healthcare market remained firm.」
The situation changed from the decline in demand for automotive equipment that emerged in the previous quarter to a recovery in new and used vehicle sales and an increase in demand for automotive equipment. Demand for healthcare equipment installations also remained firm. - FY2023-Q3MaterialisedAnnual report
「In the industrial business, demand for automotive equipment declined along with lower sales volumes of new and used vehicles, but domestic demand for ITS-related infrastructure upgrades is recovering. Demand for equipment installations, including IVD (in vitro diagnostic medical devices), in the healthcare market remained firm.」
Regarding risk from changes in regional and product demand, lower demand for automotive equipment emerged in the business environment, while recovering, firm and stable demand was reported for domestic ITS upgrades, healthcare and education ICT. - FY2023-Q2RestatedAnnual report
「In the fishing market, demand remained firm in Japan and Asia and progressed steadily in the Americas and Europe. In the pleasure boat market, demand in Europe increased steadily.」
For regional and product demand, the disclosure continues to cite firm conditions in the fishing market and growth in the European pleasure boat market. - FY2023-Q1MitigatedAnnual report
「In the fishing market, demand remained firm in Japan and Asia and increased in the Americas and Europe. In the pleasure boat market, demand in Europe increased steadily.」
For regional and product demand, firm and increasing demand in the fishing market and rising European pleasure boat demand were confirmed, indicating that risk from changes in market demand had diminished. - FY2022-Q3MitigatedAnnual report
「In the commercial vessel market within the marine sector, the newbuilding order environment began to recover, while demand for retrofits in Europe continued to recover. Demand in the fishing market remained stable, while demand in the pleasure boat market continued to expand, particularly in North America.」
Recovery, stability and expansion were reported in the markets for new commercial vessels, European retrofits, fishing and North American pleasure boats, indicating that demand-side risk from changes in regional and product demand had diminished. - FY2021-Q3RestatedAnnual report
「Regarding conditions in the main markets related to our Group, in the marine business, projects were postponed because of stagnation in economic activity resulting from measures to address the COVID-19 pandemic, but delays are now gradually being resolved.」
Although economic stagnation caused by pandemic-control measures and project postponements remain, the company continues to state that delays are gradually being resolved. - FY2021-Q2MitigatedAnnual report
「Regarding conditions in the main markets related to our Group, in the marine business, projects were postponed because of the temporary closure of shipyards and other effects of measures taken by countries to address the COVID-19 pandemic, but delays are now gradually being resolved.」
Although the impact of changes in regional economies and demand continues, the company says project delays caused by shipyard closures and other factors are gradually being resolved. - FY2021-Q1MaterialisedAnnual report
「Regarding conditions in the main markets related to our Group, demand in the marine business contracted because of stagnation in economic activity resulting from measures taken by countries to address the COVID-19 pandemic.」
Changes in regional economic conditions and product demand actually emerged as declining demand and lower sales across the businesses. - FY2019First statedAnnual report
「Our Group supplies products to various countries and regions, including Japan, Asia, Europe and the Americas. Accordingly, changes in economic conditions in these countries and regions and changes in demand for our products in the relevant markets may adversely affect our Group's operating results and financial position.」
The company has for the first time explicitly identified general market risk, as a business risk, that changes in regional economies and product demand may affect operating results and financial position.