Risk of Supply and Demand Fluctuations in the Semiconductor and Flat-Panel Display Industries
First written in FY2016. 17 of 35 entries say "Materialised", first in FY2017. Latest entry: 2026-11-06.
Ushio moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2023: 46 of 71 companies on the "Worse" side.
34 other companies' latest entry also says "Mitigated".
- FY2026RestatedAnnual report
「In the semiconductor, electronic device and printed circuit board markets, demand for PCs, smartphones and other products recovered gradually worldwide and utilization remained stable, but related capital investment continued to be restrained.」
A gradual recovery in final product demand and utilization coexisted with continued capital investment restraint. The divergence between demand for generative AI-related servers and restrained investment in existing data centers also continued. - FY2026-H1Recovery in demand coexisted with restrained capital investmentAnnual report
「In the semiconductor, electronic device and printed circuit board markets, demand for PCs, smartphones and other products recovered gradually worldwide and utilization remained stable, but related capital investment continued to be restrained. In the server market, new demand was emerging, driven by generative AI, while investment in servers for existing data centers continued to be restrained and deferred.」
Final product demand and utilization recovered gradually, while capital investment restraint continued. The divergence between demand for generative AI-related servers and restrained investment in existing data centers also continued. - FY2025-H1Continued capital investment restraint and divergence in generative AI demandAnnual report
「In the semiconductor, electronic device and printed circuit board markets, utilization for PCs and smartphones remained stable worldwide, but related capital investment continued to be restrained and recovery remained gradual. In the server market, new demand was emerging, driven by generative AI, while investment in servers for existing data centers continued to be restrained and deferred.」
Capital investment restraint and a gradual recovery continued in the semiconductor, electronic device and printed circuit board markets, while new demand emerged for generative AI-related servers and investment in servers for existing data centers continued to be restrained and deferred. - FY2024MaterialisedAnnual report
「In the related advanced IC package substrate market, demand for end products also remained sluggish, and the situation continued to require close monitoring, including the temporary restraint on capital investment.」
Weak final demand, restrained capital investment and low utilization continued to affect results in the semiconductor, electronic device and advanced IC package substrate markets. - FY2024-Q2MaterialisedAnnual report
「Against this backdrop, in the semiconductor, electronic device and printed circuit board markets, final demand for smartphones and other products continued to slow worldwide, and related capital investment and utilization remained sluggish. Demand for related advanced IC package substrates was in a temporary adjustment phase, and developments continued to require close monitoring, but demand is expected to expand over the medium to long term as 5G is commercialized and the use of IoT and AI advances. In the flat-panel display market, stay-at-home demand had run its course, and utilization at LCD panel manufacturers remained sluggish.」
Slowing final demand for smartphones and other products, weak capital investment and utilization related to semiconductors and electronic devices, a temporary adjustment in demand for advanced IC package substrates, and low utilization at LCD panel manufacturers continued, with supply-demand volatility risks reflected in results. Meanwhile, an expansion in demand over the medium to long term was also indicated. - FY2024-Q1MaterialisedAnnual report
「In the semiconductor, electronic device and printed circuit board markets, utilization remained stable worldwide for PCs, smartphones and other products, but related capital investment continued to trend lower and recovery remained gradual. In the server market, new demand was driven by generative AI, while investment in servers for existing data centers continued to be restrained and deferred. In the flat-panel display market, stay-at-home demand had run its course, and utilization at LCD panel manufacturers remained sluggish.」
Slowing final demand for smartphones and other products, weak capital investment related to semiconductors and electronic devices, a temporary adjustment in demand for advanced IC package substrates, and weak LCD panel utilization continued. - FY2023MaterialisedAnnual report
「In the semiconductor, electronic device and printed circuit board markets, capital investment was strong as 5G was commercialized and the use of IoT and AI advanced, but final demand slowed in addition to the global economic slowdown from the second half of the fiscal year, resulting in lower utilization in some areas. In the flat-panel display market, LCD panel manufacturers continued reducing utilization to adjust inventories as demand for LCD panels for mobile devices and monitors leveled off.」
Final demand and utilization in the semiconductor-related market slowed in the second half, while lower utilization due to the leveling off of LCD demand and inventory adjustments was reflected in results. - FY2023-Q3RestatedAnnual report
「In the semiconductor, electronic device and printed circuit board markets, production utilization remained high and capital investment was strong as 5G was commercialized and the use of IoT and AI advanced. Meanwhile, in the flat-panel display market, LCD panel manufacturers continued reducing utilization to adjust inventories as demand for LCD panels for mobile devices and monitors leveled off.」
The coexistence of high utilization and strong capital investment in the semiconductor, electronic device and printed circuit board markets with lower utilization due to the leveling off of LCD panel demand and inventory adjustments continued. - FY2023-Q2Strong semiconductor demand coexisted with the leveling off of LCD demand and inventory adjustments.Annual report
「In the semiconductor, electronic device and printed circuit board markets, production utilization remained high and capital investment was strong as 5G was commercialized and the use of IoT and AI advanced. Meanwhile, in the flat-panel display market, LCD panel manufacturers reduced utilization to adjust inventories as demand for LCD panels for mobile devices and monitors leveled off.」
High utilization and strong capital investment in the semiconductor, electronic device and printed circuit board markets coexisted with lower utilization by manufacturers as LCD panel demand leveled off. - FY2023-Q1RestatedAnnual report
「Demand was also strong in the semiconductor, electronic device and printed circuit board markets as 5G was commercialized and the use of IoT and AI advanced. In the flat-panel display market, LCD panel production utilization for mobile devices and monitors remained high.」
Demand for semiconductors, electronic devices and printed circuit boards remained strong, and utilization of LCD panel production equipment remained high, reaffirming the recovery trend in demand from the previous fiscal year. - FY2022-Q3RestatedAnnual report
「Demand was strong in the semiconductor, electronic device and printed circuit board markets as 5G was commercialized and the use of IoT and AI advanced. In the flat-panel display market, LCD panel production utilization for mobile devices and monitors remained high.」
Demand for semiconductors, electronic devices and printed circuit boards remained strong, and utilization of LCD panel production equipment remained high, reaffirming the recovery in demand conditions. - FY2022-Q2RestatedAnnual report
「Demand was strong in the semiconductor, electronic device and printed circuit board markets as 5G was commercialized and the use of IoT and AI advanced. In the flat-panel display market, LCD panel production utilization for mobile devices and monitors remained high due to stay-at-home demand.」
Demand for semiconductors, electronic devices and printed circuit boards remained strong, and utilization of LCD panel production equipment remained high, indicating that the recovery in demand relative to the previous supply-demand volatility risk was continuing. - FY2022-Q1Recovery in semiconductor and electronic device demandAnnual report
「Demand was strong in the semiconductor, electronic device and printed circuit board markets as 5G was commercialized and the use of IoT and AI advanced. In the flat-panel display market, LCD panel production utilization for mobile devices and monitors remained high due to stay-at-home demand.」
Demand was strong in the semiconductor, electronic device and printed circuit board markets, while LCD panel production utilization also remained high, indicating a recovery in demand conditions from the previous supply-demand volatility risk. - FY2021MaterialisedAnnual report
「Against this business backdrop, demand declined substantially across the imaging-related market. Meanwhile, in the semiconductor and electronic device markets, delays in equipment installation and start-up work were seen in some areas due to the renewed spread of COVID-19, but demand in the semiconductor and electronic device markets expanded as 5G was commercialized and the use of IoT and AI advanced.」
While the substantial decline in demand in the imaging-related market was reflected in full-year results, semiconductor and electronic device demand expanded on the back of 5G, IoT and AI. - FY2021-Q3Weakness in the imaging market coexisted with a recovery in semiconductor and display demand.Annual report
「Against this business backdrop, a substantial decline in demand continued across the imaging-related market. Meanwhile, in the semiconductor and electronic device markets, delays in equipment installation and start-up work were seen in some areas due to the renewed spread of COVID-19, but demand trended higher as 5G was commercialized and the use of IoT and AI advanced. In the flat-panel display market, production equipment utilization remained high due to increased demand for LCD panels for mobile devices and monitors driven by stay-at-home demand related to COVID-19, while willingness to invest also began to recover.」
Demand continued to decline substantially in the imaging-related market, while demand trended higher in the semiconductor and electronic device markets, and utilization remained high and willingness to invest recovered in the flat-panel display market, indicating divergence in demand conditions by industry. - FY2021-Q2MaterialisedAnnual report
「An overview of the business environment for our Group during the six-month period ended the second quarter shows that, as the impact of the spread of COVID-19 increased, the imaging-related market saw repeated cinema closures worldwide. Although cinemas began reopening from the second quarter except in some regions, uncertainty continued, including limited operations and renewed closures.」
Cinema closures, limited operations and renewed closures occurred in the imaging-related market, and lower demand continued as an actual business-environment condition. Delays in equipment installation and acceptance testing also occurred in the semiconductor and display-related markets. - FY2020MaterialisedAnnual report
「Against this economic backdrop, an overview of our Group’s business environment shows that restrained capital investment and weak utilization continued across the semiconductor, flat-panel display and electronic device markets due to economic weakness stemming from the prolonged U.S.-China trade friction and other factors, as well as sluggish demand for smartphones and other products.」
Sluggish demand, capital investment and utilization in the semiconductor, flat-panel display and electronic device markets were reflected in the full-year business environment. - FY2020-Q3MaterialisedAnnual report
「An overview of the business environment for our Group during the nine-month period ended the third quarter shows that, in the flat-panel display market, capital investment in equipment for large-sized LCD displays in China remained firm, but utilization of small- and medium-sized LCD displays and organic EL displays remained sluggish due to the impact of production adjustments in South Korea and sluggish smartphone demand, while restraint on capital investment continued. In the semiconductor and electronic device markets, demand for higher functionality was seen in some electronic devices, but sluggish utilization and restrained capital investment continued overall.」
Production adjustments in South Korea, sluggish smartphone demand, weak utilization of small- and medium-sized displays, organic EL displays and semiconductors, and restrained capital investment continued, with supply-demand volatility risks reflected in results. - FY2020-Q2MaterialisedAnnual report
「An overview of the business environment for our Group during the six-month period ended the second quarter shows that, in the flat-panel display market, capital investment in equipment for large-sized LCD displays remained firm, while restraint on capital investment in small- and medium-sized LCD displays and organic EL displays continued due to sluggish smartphone demand. In the semiconductor and electronic device markets, demand for higher functionality was seen in some electronic devices, but lower equipment utilization and restrained capital investment continued overall.」
Restraint on investment in small- and medium-sized displays and organic EL displays due to sluggish smartphone demand, together with lower utilization and restrained investment in the semiconductor and electronic device markets, continued, with supply-demand volatility risks continuing to affect results. - FY2020-Q1MaterialisedAnnual report
「An overview of the business environment for our Group during the three-month period ended the first quarter shows that capital investment restraint continued across the semiconductor and small- and medium-sized display markets. Meanwhile, demand remained firm for equipment for large-sized LCD displays and for various electronic components supporting higher functionality and miniaturization in electronic devices used in smartphones and other products.」
Capital investment restraint continued in the semiconductor and small- and medium-sized display markets, with supply-demand volatility risks continuing to appear in results as lower demand and sales of exposure lamps and optical alignment equipment. Meanwhile, demand for large-sized LCD displays and electronic components is described as remaining firm. - FY2019MaterialisedAnnual report
「Demand was also affected by a decline in capital investment in China resulting from the impact of trade friction between the United States and China, among other factors.」
Reduced capital investment in China related to semiconductors and flat panels appeared in results as lower demand. - FY2019-Q3MaterialisedAnnual report
「In the flat-panel display market, capital investment in large-sized panel displays increased in China, while demand for organic EL displays, which had expanded in the previous fiscal year, showed signs of leveling off.」
Demand for large-sized panels increased in the flat-panel market, while demand for organic EL displays showed signs of leveling off, with fluctuations in industry demand reflected in results. - FY2019-Q2MaterialisedAnnual report
「In UV equipment, capital investment for M-SAP was curtailed in response to reduced production by some smartphone manufacturers, resulting in lower sales of direct-imaging exposure equipment for M-SAP, which had expanded in the previous fiscal year.」
Capital investment restraints accompanying reduced production by some smartphone manufacturers appeared as lower sales of direct-imaging exposure equipment for M-SAP, with fluctuations in semiconductor and electronic component demand emerging in results. - FY2019-Q1MaterialisedAnnual report
「Demand for direct-imaging exposure equipment for printed circuit boards and M-SAP was affected by a tendency to defer capital investment due to production cuts at some smartphone manufacturers. However, sales increased year on year because demand for printed circuit boards for various applications remained firm, among other factors.」
Some smartphone manufacturers began curbing capital investment as production was reduced, and fluctuations in semiconductor and electronic component demand are directly affecting demand for equipment. Meanwhile, demand for printed circuit boards is described as remaining firm. - FY2018-Q3MaterialisedAnnual report
「An overview of our Group’s business during the nine-month period ended the third quarter shows that demand for our related light-source businesses and optical equipment expanded as the semiconductor, electronic components and flat-panel display markets performed well. Meanwhile, demand for our related light-source businesses and imaging equipment trended lower as the shift to solid-state light sources for cinema projectors expanded in China.」
Demand continued to expand in the semiconductor, electronic components and flat-panel markets, while the shift to solid-state light sources in China caused demand for cinema-related light sources and imaging equipment to trend lower, with supply-demand and technology volatility risks continuing to affect results. - FY2018-Q2MaterialisedAnnual report
「An overview of the Group’s business during the current second quarter cumulative period shows that demand for the related light-source business and optical equipment expanded as the semiconductor and flat-panel-related markets performed strongly. Meanwhile, demand for the related light-source business and imaging equipment trended downward as the shift to solid-state light sources expanded in China’s cinema projector market.」
While demand expanded in the semiconductor- and flat-panel-related markets, demand for related light-source and imaging equipment contracted as China shifted to solid-state light sources, with supply-and-demand and technology volatility risks reflected in results. - FY2018-Q1RestatedAnnual report
「During the first 3 months of the current fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No new occurrence or material change was reported regarding supply and demand volatility risk in the semiconductor and liquid crystal industries. - FY2017MaterialisedAnnual report
「Capital investment in exposure equipment for various electronic devices related to smartphones, for which demand had increased in the previous fiscal year, weakened, and sales remained sluggish.」
Fluctuations in demand related to semiconductors and liquid crystals were reflected in results through weaker capital investment in smartphone-related exposure equipment and sluggish sales. - FY2017-Q3RestatedAnnual report
「During the nine-month period ended the third quarter, there were no new business or other risks, nor any significant changes to the business or other risks described in the securities report for the previous fiscal year.」
No new occurrence or material change was reported regarding supply and demand volatility risk in the semiconductor and liquid crystal industries. - FY2017-Q2RestatedAnnual report
「During the six-month period ended the second quarter, there were no new business or other risks, nor any significant changes to the business or other risks described in the securities report for the previous fiscal year.」
No new occurrence or material change was reported regarding supply and demand volatility risk in the semiconductor and liquid crystal industries. - FY2017-Q1RestatedAnnual report
「During the first 3 months of the current fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No new occurrence or material change was reported regarding supply and demand volatility risk in the semiconductor and liquid crystal industries. - FY2016First statedAnnual report
「The performance of the Group is affected by supply and demand in the semiconductor and liquid crystal industries. The products currently handled by the Company include lamps, which are consumables used in manufacturing equipment and for which demand is generated relatively steadily while factories are operating. However, the semiconductor and liquid crystal manufacturing equipment handled by the Company is affected by short-, medium- and long-term fluctuations in demand and technological innovation in each industry, which may have a material impact on the Group’s performance and financial condition.」
The Company describes the stable demand structure for consumables while indicating the potential impact of industry demand and technological innovation.