Expansion of Sales to China’s New Energy Vehicle Market
First written in FY2022-Q2. 4 of 6 entries say "Restated". Latest entry: FY2024.
0 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「In China, although there were foreign-exchange effects from the weaker yen, sales were affected by increased customer production and the ramp-up of production of products for new vehicle models,」
Sales and operating profit in China improved as a result of increased production by customers and the increased ramp-up of production of products for new vehicle models. A recovery in the China business driven by support for new vehicle models, including new energy vehicles, was confirmed for the full year. - FY2023-Q3RestatedAnnual report
「In China, although there were foreign-exchange effects from the weaker yen, sales were affected by expanded sales for new energy vehicles such as EVs and PHEVs and production cuts by major customers resulting from semiconductor shortages,」
The disclosure continues to state that sales for new energy vehicles such as EVs and PHEVs are expanding in China. At the same time, lower sales and an operating loss have been recorded for China as a whole. - FY2023-Q2RestatedAnnual report
「Although China’s policy shift on COVID-19 and increased production of new-energy vehicles are expected to drive higher automobile sales, uncertainty about the outlook continues, including the risk of an economic slowdown caused by stagnant economic activity in China.」
While continuing to express expectations for expanded automotive sales resulting from China’s policy shift and increased production of new energy vehicles, the disclosure also identifies the risk of an economic slowdown. - FY2023-Q1RestatedAnnual report
「Although the easing of China’s zero-COVID policy and increased production of new-energy vehicles are expected to drive higher automobile sales, concerns remain over the risk of an economic slowdown caused by a renewed spread of the infection.」
Expectations for increased production of new energy vehicles in China and expanded automotive sales continue to be expressed. However, sales in China declined during the quarter, while the effects of a resurgence in infections and semiconductor shortages also persisted. - FY2022-Q3RestatedAnnual report
「In China, although sales were affected by customer production cuts resulting from semiconductor shortages and production stoppages resulting from lockdowns, sales for new energy vehicles such as EVs and PHEVs expanded, and foreign-exchange effects from the weaker yen also contributed. Net sales were ¥35,548 million, an increase of ¥2,611 million, or 7.9%, from the same period of the previous year.」
In China, expanded sales for new energy vehicles such as EVs and PHEVs continue to contribute to higher sales, while the effects of lockdowns and semiconductor shortages also continue. - FY2022-Q2First statedAnnual report
「In China, although sales were affected by customer production cuts resulting from semiconductor shortages and production stoppages resulting from lockdowns, sales for new energy vehicles such as EVs and PHEVs expanded, and foreign-exchange effects from the weaker yen also contributed. Net sales were ¥25,381 million, an increase of ¥3,039 million, or 13.6%, from the same period of the previous year.」
In the China business, expanded sales for new energy vehicles such as EVs and PHEVs is identified for the first time in specific terms as a factor behind the increase in sales.