Earnings volatility driven by intensifying price competition and fluctuating demand
First written in FY2016. 30 of 34 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-11-12.
Daishinku Corp. moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2020: 47 of 77 companies on the "Worse" side.
9 other companies' latest entry also says "Materialised".
- 2026-11-12MaterialisedResults
「メモリ半導体価格の高騰や、地政学リスクに付随した原油・天然ガス等の資源価格の高止まりが依然として世界経済の下振れ圧力として作用し、全体として先行き不透明な状況が続きました。」
メモリ半導体価格及び資源価格の高騰が、当中間期の事業環境上の下振れ圧力として引き続き記載された。 - FY2027-H1Increased demand coexisted with soaring memory semiconductor pricesAnnual report
「Meanwhile, soaring memory semiconductor prices and persistently elevated prices for resources such as crude oil and natural gas, associated with geopolitical risks, continued to weigh on the downside of the global economy, and the overall outlook remained uncertain. … Strong demand in major markets led to higher revenue in all segments—communications, automotive, consumer and industrial—and net sales therefore amounted to ¥21,719 million, up 10.9% year on year.」
While soaring memory semiconductor prices and persistently elevated resource prices continued, demand in major markets remained firm and revenue increased across all segments. - FY2026MaterialisedAnnual report
「Although demand in the communications and consumer sectors declined because of a sharp rise in memory semiconductor prices, the automotive sector remained firm, while the industrial sector shifted from weak capital investment toward a gradual recovery trend.」
In addition to risks from price competition and demand fluctuations, the decline in communications and consumer demand caused by the sharp rise in memory semiconductor prices emerged as an actual factor affecting the sales environment. - 2026-05-14MaterialisedResults
「Although demand in the communications and consumer sectors declined because of a sharp rise in memory semiconductor prices, the automotive sector remained firm, while the industrial sector shifted from weak capital investment toward a gradual recovery trend.」
メモリ半導体価格急騰による通信・民生分野の需要減少が実際の事業環境として記載された。 - FY2026-H1MaterialisedAnnual report
「The communications sector was affected by intensifying price competition for some models, while inventory adjustment due to weak capital investment continued in the industrial sector. The Taiwan dollar also surged against the US dollar, among other factors, but revenue increased to ¥19,591 million, up 0.8% year on year, as the automotive sector remained firm.」
Intensifying price competition for certain communications equipment models and continued inventory adjustments in the industrial field were reported as market conditions during the interim period. Overall revenue increased 0.8% from the same period of the previous year, supported by strength in the automotive field. - FY2025-H1MaterialisedAnnual report
「In Japan, sales to the industrial and consumer markets, among others, declined. Revenue was ¥3,453 million, down ¥814 million, or 19.1%, from the same period of the previous year, while segment profit (operating profit) was ¥33 million, down ¥112 million, or 76.9%.」
The decline in sales to the industrial and consumer markets was reflected in actual results as a 19.1% decline in revenue and a 76.9% decline in segment profit in Japan. - FY2024-Q3MaterialisedAnnual report
「In the industrial field, an adjustment stemming from sluggish capital investment became apparent. In the consumer field, although there were signs of a bottom, conditions remained weak, particularly for PCs. Meanwhile, products for Chinese smartphones in the communications field trended toward recovery, and sales in the automotive field increased as vehicle production recovered following the easing of the semiconductor shortage. As a result, revenue was ¥29,685 million, up 0.3% from the same period of the previous year. On the profit side, due to lower utilization and the impact of pricing fluctuations for certain products, operating profit was ¥1,486 million, down 58.7% from the same period of the previous year.」
Sluggish capital investment in industrial equipment, weak consumer demand and pricing fluctuations for certain products were reflected in actual results as performance fluctuations, including a 58.7% decline in operating profit. At the same time, recovery in the communications and automotive markets was also noted. - FY2024-Q2MaterialisedAnnual report
「Although signs of recovery were seen in products for Chinese smartphones and communications modules, the communications field remained weak. In the consumer field, following the peaking of work-from-home and stay-at-home demand, the adjustment phase that began in the second half of the previous fiscal year continued, particularly for PCs. As a result, revenue was ¥19,332 million, down 4.7% from the same period of the previous year. On the profit side, due to lower utilization associated with the decline in sales and the impact of pricing fluctuations for certain products, operating profit was ¥901 million, down 67.9% from the same period of the previous year.」
Weakness in the communications field, the adjustment in consumer demand and pricing fluctuations for certain products were reflected in actual results as a 4.7% decline in revenue and a 67.9% decline in operating profit. - FY2024-Q1MaterialisedAnnual report
「In the consumer field, work-from-home and stay-at-home demand peaked, and the adjustment phase that began in the second half of the previous fiscal year continued, particularly for PCs. As a result, revenue was ¥9,318 million, down 9.4% from the same period of the previous year. On the profit side, due to lower sales and the impact of pricing fluctuations for certain products, operating profit was ¥518 million, down 68.1% from the same period of the previous year.」
The peaking of consumer demand, the continuation of the adjustment phase and pricing fluctuations for certain products were reflected in actual results as a 9.4% decline in revenue and a 68.1% decline in operating profit. - FY2023MaterialisedAnnual report
「Sales to the automotive market increased due to the progress of ADAS (advanced driver assistance systems) and other factors. However, products for Chinese smartphones and communications modules remained sluggish in the communications field, while work-from-home and stay-at-home demand peaked in the consumer field. As a result, revenue was ¥38,430 million, down 7.0% from the previous consolidated fiscal year.」
The impact of demand fluctuations and price competition was reflected in actual results as weak communications and consumer demand and a 7.0% decline in consolidated revenue. - FY2023-Q3MaterialisedAnnual report
「Amid these conditions, automotive sales increased on the progress of ADAS (advanced driver-assistance systems), among other factors. However, communications products for Chinese smartphones and communications modules remained sluggish, while consumer sales were affected by the peaking of teleworking and stay-at-home demand, resulting in revenue of ¥29,605 million, down 6.5% year on year.」
The sluggishness of products for Chinese smartphones and communications modules, together with the peaking of work-from-home and stay-at-home demand, was reflected in actual results as a 6.5% decline in revenue from the same period of the previous year. - FY2023-Q2MaterialisedAnnual report
「Amid these conditions, sales to the consumer and industrial sectors, led by the automotive sector, increased, partly due to the weaker yen. However, communications sales declined as Chinese smartphones remained sluggish, resulting in revenue of ¥20,292 million, down 5.3% year on year.」
The decline in communications sales due to sluggish Chinese smartphones was reflected in actual results as a 5.3% decline in total revenue from the same period of the previous year. Sales increased in the automotive, consumer and industrial fields, indicating differences in the impact by market. - FY2023-Q1MaterialisedAnnual report
「Sales in the communications field declined because Chinese smartphones remained sluggish. Revenue was ¥10,283 million, down 2.1% from the same period of the previous year.」
The decline in communications sales due to sluggish Chinese smartphones was reflected in actual results as a 2.1% decline in total revenue from the same period of the previous year. Sales in the automotive, consumer and industrial fields increased in other markets, indicating differences in the impact of demand by market. - FY2022RestatedAnnual report
「In addition to competition with Japanese companies, the crystal industry in which the group operates faces the emergence of overseas manufacturers, including those in China and Taiwan, and accelerating commoditization. Intensifying competition may cause pricing fluctuations that affect earnings.」
The company continued to identify the emergence of Chinese and Taiwanese manufacturers, commoditization and pricing fluctuations resulting from intensifying competition as major factors behind earnings volatility, and indicated measures involving differentiated products, products for low-price markets and large wafers. - FY2021WorsenedAnnual report
「In the first half of the 2000s, Japanese crystal manufacturers held close to 70% of the global market. However, mainly by competing on low prices, crystal manufacturers in China and Taiwan expanded their market share, which has recently fallen below 50%. The commoditization of crystal devices accelerated.」
The low-price competition from Chinese and Taiwanese manufacturers, the decline in Japanese companies’ market share and the acceleration of crystal device commoditization were newly quantified as structural issues. - FY2021-Q3MaterialisedAnnual report
「Against this backdrop, sales to the automotive electronics market had been trending toward recovery since the second quarter, but sales declined due to the substantial impact of the first quarter.」
The decline in sales to the automotive electronics market continued to be reflected in the cumulative consolidated results for the first 3 quarters. At the same time, the company stated that sales had been trending toward recovery since the second quarter. - FY2021-Q2MaterialisedAnnual report
「Sales to the consumer and communications markets increased, but sales to the automotive electronics market declined, resulting in revenue of ¥14,463 million, up 0.1% year on year.」
Against the backdrop of the COVID-19 pandemic and other factors, sales to the automotive electronics market continued to decline, and fluctuations in demand were reflected in revenue by market. - FY2021-Q1MaterialisedAnnual report
「Sales to the consumer market and other markets increased, but sales to the automotive electronics market declined, resulting in revenue of ¥6,538 million, down 6.6% year on year.」
Against the backdrop of the spread of COVID-19 and other factors, the decline in sales to the automotive electronics market was reflected in actual results as a 6.6% decline in revenue from the same period of the previous year. - FY2020MaterialisedAnnual report
「A major factor affecting the management of the group is that price competition in the crystal products business remains severe. Market prices in the product markets in which the group operates are also expected to face intensified competition depending on pricing trends for customers’ products.」
In addition to continued price competition, declines in sales to the automotive electronics and industrial markets occurred, and the impact of these risks continued to be reflected in fluctuations in revenue and profit by region. - FY2020-Q3MaterialisedAnnual report
「On the profit side, due to the impact of pricing fluctuations and other factors, the operating loss was ¥166 million, compared with operating profit of ¥108 million in the same period of the previous year.」
The impact of pricing fluctuations was reflected in actual results, and operating income turned from a profit of ¥108 million in the same period of the previous year to a loss of ¥166 million. - FY2020-Q2MaterialisedAnnual report
「On the profit side, due to the impact of lower sales resulting from pricing fluctuations and other factors, the operating loss was ¥264 million, compared with operating profit of ¥153 million in the same period of the previous year.」
Lower sales resulting from pricing fluctuations were reflected in actual results, and operating income turned from a profit of ¥153 million in the same period of the previous year to a loss of ¥264 million. The quantified impact of these risks has continued. - FY2020-Q1MaterialisedAnnual report
「On the profit side, due to the impact of lower sales resulting from pricing fluctuations and other factors, the operating loss was ¥172 million, compared with operating profit of ¥48 million in the same period of the previous year.」
Lower sales resulting from pricing fluctuations affected actual results, and operating income turned from a profit of ¥48 million in the same period of the previous year to a loss of ¥172 million. - FY2019MaterialisedAnnual report
「A major factor affecting the management of the group is that price competition in the crystal products business remains severe. Market prices in the product markets in which the group operates are also expected to face intensified competition depending on pricing trends for customers’ products.」
In addition to continued price competition, declines in sales to the communications equipment and consumer markets and pricing fluctuations were reflected in actual results as a 6.1% decline in full-year revenue and an 84.3% decline in operating profit. - FY2019-Q3MaterialisedAnnual report
「Although sales to the industrial market increased, sales to the communications equipment and automotive electronics markets, among others, declined. Revenue was ¥22,128 million, down 4.6% from the same period of the previous year. On the profit side, due to the impact of lower sales resulting from pricing fluctuations and other factors, operating profit was ¥108 million, down 83.0% from the same period of the previous year.」
Continued declines in sales to the communications equipment and automotive electronics markets and lower sales resulting from pricing fluctuations were reflected in actual results as declines in revenue and operating profit. In Japan, a segment loss of ¥608 million also arose due to pricing fluctuations and other factors. - FY2019-Q2MaterialisedAnnual report
「On the profit side, due to the impact of lower sales resulting from pricing fluctuations and other factors, operating profit was ¥153 million, down 74.4% from the same period of the previous year.」
Lower sales resulting from pricing fluctuations were reflected in actual results, and operating profit fell 74.4% from the same period of the previous year. - FY2019-Q1MaterialisedAnnual report
「On the profit side, due to higher fixed costs, including depreciation, and the impact of pricing fluctuations, operating profit was ¥48 million, down 87.8% from the same period of the previous year.」
The impact of pricing fluctuations emerged in actual results as a factor behind the decline in operating profit. In Japan, pricing fluctuations also resulted in a segment loss. - FY2018MaterialisedAnnual report
「In China, sales to the communications equipment market and other markets fell below the previous year. Revenue was ¥9,159 million, down ¥1,067 million, or 10.4%, from the same period of the previous year, while the segment loss (operating loss) was ¥476 million, a deterioration of ¥97 million from the same period of the previous year, when the segment loss was ¥378 million.」
The decline in demand and sales for communications equipment in China was reflected in full-year performance. Revenue in China fell 10.4%, and the segment loss widened to ¥476 million. - FY2018-Q3MaterialisedAnnual report
「In China, sales to the communications equipment market and other markets fell below the previous year. Revenue was ¥7,204 million, down ¥810 million, or 10.1%, from the same period of the previous year, while the segment loss (operating loss) was ¥363 million, a deterioration of ¥51 million from the same period of the previous year, when the segment loss was ¥312 million.」
Sales to the communications equipment market and other markets in China continued to decline. Revenue fell 10.1% from the same period of the previous year, and the segment loss widened to ¥363 million. The impact of demand fluctuations on performance continues to be reflected in results. - FY2018-Q2MaterialisedAnnual report
「Products for Chinese smartphones remained sluggish. In China, sales to the communications equipment market and other markets fell below the previous year. Revenue was ¥4,923 million, down ¥324 million, or 6.2%, from the same period of the previous year, while the segment loss (operating loss) was ¥298 million, a deterioration of ¥74 million from the same period of the previous year, when the segment loss was ¥223 million.」
The sluggish performance of products for Chinese smartphones and the decline in sales to the communications equipment market were reflected in results. Revenue in China fell 6.2% from the same period of the previous year, and the segment loss deteriorated to ¥298 million. - FY2018-Q1MaterialisedAnnual report
「In China, sales to the communications equipment market and other markets fell below the previous year. Revenue was ¥2,285 million, down ¥234 million, or 9.3%, from the same period of the previous year, while the segment loss (operating loss) was ¥86 million, a deterioration of ¥29 million from the same period of the previous year, when the segment loss was ¥57 million.」
Sales to the communications equipment market and other markets in China fell below the previous year, resulting in a 9.3% decline in revenue, while the segment loss also deteriorated. The impact of pricing and demand fluctuations on performance continues to emerge. - FY2017-Q3MaterialisedAnnual report
「In North America, sales to the automotive electronics and housing-related markets, among others, fell below the previous year. Revenue was ¥1,212 million, down ¥402 million, or 24.9%, from the same period of the previous year, while segment profit (operating profit) was ¥8 million, down ¥21 million, or 70.5%. In Asia, sales to the AV equipment market declined. Revenue was ¥1,588 million, down ¥662 million, or 29.4%, from the same period of the previous year, while the segment loss (operating loss) was ¥76 million, a deterioration of ¥186 million from the same period of the previous year, when the segment posted a profit of ¥110 million.」
Sales continued to decline in North America and Asia, with revenue down 24.9% and 29.4%, respectively, from the same period of the previous year. The impact of pricing and demand fluctuations on performance has continued to emerge. - FY2017-Q2MaterialisedAnnual report
「In North America, sales to the automotive electronics and housing-related markets, among others, fell below the previous year. Revenue was ¥818 million, down ¥311 million, or 27.6%, from the same period of the previous year, while segment profit (operating profit) was ¥3 million, down ¥16 million, or 80.8%. In Asia, sales to the AV equipment market declined. Revenue was ¥1,014 million, down ¥544 million, or 34.9%, from the same period of the previous year, while the segment loss (operating loss) was ¥109 million, a deterioration of ¥153 million from the same period of the previous year, when the segment posted a profit of ¥44 million.」
Sales continued to decline in North America and Asia, with revenue down 27.6% and 34.9%, respectively, from the same period of the previous year. Fluctuations in demand and sales are reflected in segment performance. - FY2017-Q1MaterialisedAnnual report
「In North America, sales to the automotive electronics and housing-related markets, among others, fell below the previous year. Revenue was ¥431 million, down ¥112 million, or 20.7%, from the same period of the previous year, while segment profit (operating profit) was ¥4 million, down ¥7 million, or 64.4%.」
Sales to the North American automotive electronics market and other markets fell below the previous year, resulting in a 20.7% decline in revenue. Fluctuations in demand and sales are reflected in segment performance. - FY2016First statedAnnual report
「The Group operates in the quartz industry, producing key electronic components such as tuning-fork quartz crystal units, general-purpose quartz crystal units and quartz-based application products. However, intensified competition and changes in market conditions in the mobile phone, personal computer, flat-screen TV, DVD recorder and other digital consumer electronics markets, as well as the automotive electronics industry, cause prices and demand trends to fluctuate, which may affect the Group's results.」
The company cites intensifying competition in customer industries, market conditions, pricing and demand trends as factors behind fluctuations in performance.