China and Emerging-Market Economic Slowdown, and Demand Adjustments in Information Devices and Capital Investment
First written in FY2017-Q2. 10 of 32 entries say "Restated". Latest entry: 2026-09-09.
Mitsui High-tec moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2019: 41 of 56 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- 2026-09-09RestatedEarnings
「Although the economic environment surrounding our group is generally on a gradual recovery path, uncertainty about the outlook continues due to trends in U.S. economic policy, the slowdown in the Chinese economy and heightened tensions in the Middle East.」
The company continues to identify U.S. economic policy, the slowdown in China and heightened tensions in the Middle East as sources of uncertainty. - FY2027-H1Escalation of tensions in the Middle East explicitly statedAnnual report
「During the current interim consolidated accounting period, the economic environment surrounding our Group was generally on a gradual recovery trend, but uncertainty about the outlook continued due to developments in US economic policy, a slowdown in China's economy and escalating tensions in the Middle East.」
While the overall environment is described as being on a gradual recovery trend, escalating tensions in the Middle East are specifically identified as a source of uncertainty, replacing the previous reference to unstable international conditions. - 2026-06-12RestatedEarnings
「Although the global economy is generally on a gradual recovery path, uncertainty about the outlook continues due to trends in U.S. economic policy, the slowdown in the Chinese economy and heightened tensions in the Middle East.」
The company described the global economy as gradually recovering while identifying U.S. economic policy, the Chinese economy and the Middle East situation as sources of uncertainty. - FY2026-H1Changes in the sources of uncertaintyAnnual report
「During the current interim consolidated accounting period, the economic environment surrounding our Group was generally on a gradual recovery trend, but uncertainty about the outlook continued due to developments in US economic policy, a slowdown in China's economy and unstable international conditions.」
While the overall environment is described as being on a gradual recovery trend, developments in US economic policy and unstable international conditions are identified as sources of uncertainty in place of the previously cited monetary tightening and conditions in the Middle East. - FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period, the economic environment surrounding our Group was generally on a gradual recovery trend, but uncertainty about the outlook continued due to monetary tightening mainly in Europe and the United States, unstable conditions in the Middle East and a slowdown in China's economy.」
While the overall environment is described as being on a gradual recovery trend, monetary tightening, conditions in the Middle East and China's economic slowdown continue to be cited as sources of uncertainty. - FY2025-Q1MitigatedAnnual report
「Regarding conditions in the industries that are the main suppliers to our Group, demand related to electric vehicles remained firm in the automobile industry. In the semiconductor industry, the market as a whole was moving toward a gradual recovery, although recovery in end demand remained delayed for some semiconductors.」
The semiconductor industry as a whole is described as moving toward a gradual recovery, representing a partial easing from the difficult market conditions through the previous period. However, recovery in end demand remains delayed for some semiconductors. - FY2024-Q3WorsenedAnnual report
「Regarding conditions in the industries that are the main suppliers to our Group, automobile production was gradually returning to normal as the shortage of automotive semiconductors eased, while demand related to electric vehicles remained firm. In the semiconductor industry, difficult conditions continued due to inventory adjustments and other factors associated with weak end demand for semiconductors used in consumer products and information devices.」
While supply shortages in the automotive sector eased, weak end demand and continued inventory adjustments for semiconductors used in consumer products and information devices meant that difficult market conditions persisted. - FY2024-Q3WorsenedAnnual report
「In the semiconductor industry, difficult conditions continued due to inventory adjustments and other factors associated with weak end demand for semiconductors used in consumer products and information devices.」
In contrast to the easing trend in inventory adjustments described in the previous quarter, weak end demand and inventory adjustments for semiconductors used in consumer products and information devices are cited as factors behind the continued difficult market conditions. - FY2024-Q2Inventory adjustments eased in part, but difficult market conditions continuedAnnual report
「Regarding conditions in the industries that are the main suppliers to our Group, automobile production was gradually returning to normal as the shortage of automotive semiconductors eased, while demand related to electric vehicles remained firm. In the semiconductor industry, inventory adjustments for various semiconductors were gradually moving toward resolution, but difficult market conditions continued due to sluggish end demand for electronic components.」
While shortages of automotive semiconductors and inventory adjustments for various semiconductors showed signs of easing, sluggish end demand for electronic components meant that difficult semiconductor market conditions continued. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, the economic environment surrounding our Group remained uncertain due to the prolonged geopolitical risks in Europe, persistently high global inflation and financial instability resulting from policy rate hikes in various countries. In addition, market conditions in the semiconductor industry deteriorated further as demand for various semiconductors, particularly those used in information devices, declined overall.」
In addition to the previously cited decline in demand for information devices, the disclosure identifies deteriorating market conditions caused by an overall decline in semiconductor demand, as well as geopolitical risks, inflation and financial instability, indicating a broadening range of uncertainties in the business environment. - FY2023WorsenedAnnual report
「In the semiconductor industry, demand for automotive semiconductors remained firm, but overall market conditions deteriorated further due to declining demand for semiconductors used in information devices.」
The disclosure states that, while demand for automotive applications remained firm, overall semiconductor market conditions deteriorated further due to declining demand for semiconductors used in information devices. - FY2023-Q3WorsenedAnnual report
「During the first 3 quarters of the current consolidated cumulative period, the economic environment surrounding our Group remained uncertain due to supply-chain disruptions caused by China's lockdowns, the emergence of geopolitical risks in Europe, global inflation and sharp foreign exchange movements resulting from monetary tightening by various countries. In addition, although the semiconductor industry had generally remained strong since the beginning of the period, market conditions turned downward due in part to inventory adjustments caused by declining demand for semiconductors used in information devices.」
In addition to supply-chain disruptions caused by China's lockdowns, global inflation and foreign exchange movements associated with monetary tightening, the disclosure states that market conditions deteriorated due to declining demand for semiconductors used in information devices and inventory adjustments. - FY2023-Q2WorsenedAnnual report
「The economic environment surrounding our Group remained uncertain due to global inflation driven by supply-chain disruptions caused by China's lockdowns and the emergence of geopolitical risks in Europe. In addition, although the semiconductor industry had generally remained strong since the beginning of the period, the impact of declining demand for information devices and other applications has recently become evident.」
Supply-chain disruptions caused by China's lockdowns and declining demand for information devices and other applications are newly cited, indicating that the previously identified economic and information-device demand risks have worsened. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the global economy showed signs of recovery in some countries, but, due to the impact of COVID-19, a full-scale recovery was still expected to take time.」
The disclosure describes a situation in which the global economy is recovering while a full-scale recovery remains delayed. - FY2022RestatedAnnual report
「Our Group operates globally and is affected by economic conditions in the countries and regions where it sells products. It is also affected by demand trends in the semiconductor, consumer electronics and automobile industries, which are its main suppliers, and customer inventory adjustments and other factors could affect the Group's operating results.」
The disclosure continues to identify global economic conditions, industry demand and customer inventory adjustments as demand risks, without limiting them to China and emerging markets. - FY2022-Q3RestatedAnnual report
「In the semiconductor industry, demand for various semiconductors, including those for consumer and automotive applications, remained strong.」
The disclosure states that strong demand for various semiconductors continued, maintaining the easing of demand-adjustment risk, including for information devices. Automobile production cuts due to the global semiconductor shortage are described in a separate thread. - FY2022-Q2MitigatedAnnual report
「Regarding conditions in the industries that are the main suppliers to our Group, automobile manufacturers reduced production due to the global semiconductor shortage, but demand related to electric vehicles remained firm. In the semiconductor industry, demand for all types of semiconductors, including those for smartphones, tablets and automotive applications, remained strong.」
Demand for various semiconductors, including those used in smartphones and tablets, is described as strong, partially mitigating the previously cited risk of demand adjustments for information devices. Separately, the disclosure notes automobile production cuts due to the global semiconductor shortage. - FY2022-Q1RestatedAnnual report
「China's economy has continued to recover, as economic activity normalized particularly quickly, while the US economy is also on a recovery trend due to recovering consumer spending and improving employment.」
The disclosure states that China's economy has continued to normalize and recover, continuing to indicate that the risk of a slowdown in China has eased. - FY2021MitigatedAnnual report
「Meanwhile, economic activity normalized particularly quickly in China, and the economy has continued to recover ahead of other regions.」
The disclosure states that China's economy has normalized and recovered, partially mitigating the previously cited risk of an economic slowdown in China. At the same time, forecasting semiconductor demand remains difficult. - FY2021-Q1MaterialisedAnnual report
「In the machine tool business, we pursued sales expansion, particularly in markets for electronic components and automobiles. However, the postponement of capital investment due to economic uncertainty in Japan and overseas resulted in sales of ¥227 million, down 51.5% year on year, and an operating loss of ¥48 million, compared with operating profit of ¥52 million in the same period of the previous year.」
The postponement of capital investment due to economic uncertainty in Japan and overseas was reflected in actual performance as a substantial decline in machine tool sales and an operating loss. - FY2020-Q3WorsenedAnnual report
「Recovery in demand for semiconductors used in mobile devices such as smartphones and for consumer and automotive applications remained stalled. In the electronic components business, we worked to reduce costs and improve productivity, but orders declined amid weak market conditions in the semiconductor industry, resulting in a substantial decrease in revenue. As a result, sales were ¥27,213 million, down 16.3% year on year, and the operating loss was ¥1,181 million, compared with an operating loss of ¥191 million in the same period of the previous year.」
The stalled recovery in semiconductor demand continued, and lower orders resulted in a larger year-on-year decline in revenue and operating loss in the electronic components business. - FY2020-Q2MaterialisedAnnual report
「However, the Chinese economy slowed due in part to the impact of trade friction between the United States and China, increasing uncertainty about the outlook for the global economy. Against this backdrop, recovery in demand for semiconductors used in mobile devices such as smartphones and for consumer and automotive applications remained stalled in the semiconductor industry, which is a major supplier to our Group. In the electronic components business, we worked to reduce costs and improve productivity, but orders declined amid weak market conditions in the semiconductor industry, resulting in a substantial decrease in revenue. As a result, sales were ¥17,709 million, down 20.4% year on year, and the business posted an operating loss of ¥922 million, compared with operating profit of ¥120 million in the same period of the previous year.」
The slowdown in China's economy and the stalled recovery in semiconductor demand continued, and lower orders were reflected in actual performance in the electronic components business as a substantial decline in revenue and an operating loss. - FY2020-Q1WorsenedAnnual report
「However, China's economy slowed due in part to the impact of trade friction between the United States and China, increasing uncertainty about the outlook for the global economy. Against this backdrop, in the semiconductor industry, which is a major supplier to our Group, inventory adjustments that had continued since the previous year were almost complete, but demand declined for semiconductors used in mobile devices such as smartphones and for consumer and automotive applications.」
While inventory adjustments were almost complete, the slowdown in China's economy and declining demand for semiconductors used in smartphones, consumer products and automotive applications were newly identified as actual business-environment factors. - FY2019-Q3WorsenedAnnual report
「Within the semiconductor industry, which is the Group's main customer industry, demand for automotive semiconductors remained solid, while inventory adjustments continued for semiconductors used in mobile devices such as smartphones.」
Inventory adjustments for semiconductors used in mobile devices such as smartphones continued, and the electronic components business was described as experiencing an expansion of inventory adjustments. - FY2019-Q2MaterialisedAnnual report
「Within the semiconductor industry, which is the Group's main customer industry, demand for automotive semiconductors remained solid, while inventory adjustments continued for semiconductors used in mobile devices such as smartphones.」
Inventory adjustments for semiconductors used in mobile devices such as smartphones continued, affecting actual performance in the electronic components business through lower utilization and an inability to utilize production capacity fully. - FY2019-Q1MaterialisedAnnual report
「In the electronic components business, sales increased to ¥10,944 million, up 9.1% year on year, as orders, including those for automotive products, remained firm. However, operating expenses increased because production capacity was expanded for lead frames for information devices, including smartphones, and automotive applications, where demand is expected to grow. Orders for smartphone products declined due to inventory adjustments, so the additional production capacity could not be fully utilized. In addition, the yen's appreciation weighed on results, and operating profit fell to ¥33 million, down 89.1% year on year.」
Orders declined due to inventory adjustments for smartphone products, and the resulting inability to utilize the additional production capacity affected actual performance. - FY2018RestatedAnnual report
「In China, the economy remained stable due to expanding external demand. Against this backdrop, demand for products for automotive applications and smartphones remained firm in the consumer electronics and semiconductor industries, which are the main suppliers to our Group.」
While China's economy and demand for automotive and smartphone applications are described as stable and firm, business risks continue to include the possibility of demand fluctuations caused by customer inventory adjustments and other factors. - FY2018-Q3RestatedAnnual report
「In China, the economy remained on a recovery trend, supported by government policies to underpin economic activity and other measures. Against this backdrop, demand for products for automotive applications and smartphones remained firm in the consumer electronics and semiconductor industries, which are the main suppliers to our Group.」
The disclosure states that China's economy remained on a recovery trend and that demand for automotive and smartphone applications remained firm. - FY2018-Q2RestatedAnnual report
「In China, the economy remained on a recovery trend, supported by government policies to underpin economic activity and other measures. Against this backdrop, demand for products for automotive applications and smartphones remained firm in the consumer electronics and semiconductor industries, which are the main suppliers to our Group.」
The disclosure states that China's economy remained on a recovery trend and that demand for automotive and smartphone applications remained firm. - FY2018-Q1MitigatedAnnual report
「In China, the economy has begun to recover, supported by the government's economic measures. Against this backdrop, demand for products for automotive applications and smartphones remained firm in the consumer electronics and semiconductor industries, which are the main suppliers to our Group.」
The Chinese economy has begun to recover, and demand for major products, including those for smartphones, is described as firm, partially mitigating the previously cited risks of an economic slowdown in China and emerging markets and an adjustment in information-device demand. - FY2017-Q3MitigatedAnnual report
「Although inventory adjustments for components used in information devices, including smartphones, have subsided, uncertainty about the outlook continues.」
Inventory adjustments for components used in information devices are described as having subsided, partially mitigating this risk. At the same time, uncertainty about the outlook for China and emerging markets and the postponement of capital investment continue to be cited. - FY2017-Q2First statedAnnual report
「In China and emerging markets, uncertainty about the outlook has persisted due to slower economic growth and other factors.」
In the consumer electronics and semiconductor sectors, inventory adjustments for products used in information devices such as smartphones, and in the machine tool sector, the postponement of capital investment, are cited as actual performance factors. Sales of electronic components declined 12.6% year on year, while machine tool sales declined 5.8%.