Demand fluctuations by customer segment and region
First written in FY2017-Q2. 7 of 35 entries say "Worsened", first in FY2019. Latest entry: 2026-10-09.
No other company in this theme has enough history to compare yet.
- FY2026Overseas recovery alongside stagnation among major customersAnnual report
「Demand in overseas regions continued to recover, led by the industrial sectors in the United States, China, and elsewhere, while in Southeast Asia, demand in research and development for universities and government agencies remained firm, particularly in quantum-related fields.」
While overseas industrial demand in the United States, China, and elsewhere and quantum-related research and development demand in Southeast Asia recovered or remained firm, electronics demand from some major domestic customers stagnated. - FY2026-H1Partial recovery and divergent demand by product and customerAnnual report
「In the Component Products business, demand in overseas regions continued to recover and automated application products for certain major biotechnology customers remained solid. However, demand from the electronics industry related to electronic components and semiconductors remained weak among certain major customers, leaving the segment overall generally weak. In the Systems Products business, the recovery trend in demand from the electronics industry related to electronic components and semiconductors continued, and optical system products for the defense industry performed strongly.」
Overseas demand, the Systems Products business, and defense-related demand recovered or performed strongly, while semiconductor-related demand from certain major customers remained weak in the Component Products business, and divergence by business and customer continued. - FY2025-H1Partial recovery alongside inventory adjustments at major customersAnnual report
「Within the Group, demand for high-value-added products increased, supported by signs of recovery in the semiconductor industry and overseas regions, although orders from some major customers declined due to inventory adjustments and other factors. In the Component Products business, automated application products remained weak, but the business overall remained generally flat as inventory adjustments in the semiconductor industry showed signs of easing and manufacturing-sector capital investment in overseas regions showed signs of recovery. The Systems Products business remained sluggish due to inventory adjustments by certain major customers in the semiconductor and flat-panel display industries.」
While the semiconductor industry and overseas regions showed signs of recovery and inventory adjustments appeared to be easing, the Systems Products business was sluggish due to lower orders from certain major customers, and demand continued to diverge. - FY2024-Q3WorsenedAnnual report
「Within the Group, the Component Products business remained generally weak as demand slowed in certain overseas regions amid inventory adjustments and other developments in part of the semiconductor industry, and due to the temporary suspension of operations at certain of the Company's manufacturing sites following the 1 January 2024 Noto Peninsula Earthquake. Meanwhile, the Systems Products business remained solid, supported by increased demand from certain major customers in the semiconductor and FPD industries.」
The Component Products business weakened due to slower overseas demand, inventory adjustments, and plant shutdowns caused by the earthquake, while the Systems Products business remained solid on increased demand from major semiconductor and FPD customers, intensifying the divergence by business and customer sector. - FY2024-Q2WorsenedAnnual report
「While near-term demand from the industrial sector, particularly domestic electronics, remained somewhat weak due to temporary inventory adjustments and other factors, the Systems Products business remained solid, driven by increased demand for semiconductors and FPDs. The Component Products business remained flat due in part to weak demand in certain overseas regions.」
Domestic electronics and industrial demand, which had been solid in FY2024-Q1, became somewhat weak in the near term due to temporary inventory adjustments. The Systems Products business was solid, while the Component Products business remained flat due to weak overseas demand. - FY2024-Q1Solid domestic demand alongside slower growth in some overseas regionsAnnual report
「Within the Group, as demand from the industrial sector, particularly domestic electronics, remained solid, the Systems Products business remained solid, supported by increased capture of new custom-order projects. The Component Products business remained flat, however, due in part to weak demand in certain overseas regions.」
Domestic electronics and industrial demand and the Systems Products business were solid, while the Component Products business remained flat due to weak demand in some overseas regions, with demand continuing to diverge by region and business. - FY2023Demand recovery and continued large deliveries for the full yearAnnual report
「For the flat-panel display industry, deliveries of optical system products for observation, inspection, and processing applications to certain major customers progressed, resulting in a substantial increase in revenue.」
Demand from universities and research institutions was solid, as was demand related to electronics and in the United States and Europe. Large FPD deliveries and the recovery in Southeast Asian demand were also confirmed for the full year. - FY2023-Q3Strengthening demand from universities and research institutions and continued large FPD deliveriesAnnual report
「Within the Group, demand in research and development for universities and national research and development agencies remained solid, while the recovery trend in research and development and capital investment, particularly in electronics, continued in research and development for private-sector companies and in the industrial sector, with overall demand remaining solid. For the electronic components and semiconductor industries, mainly in Japan and Asia, component products for embedded applications in laser processing and inspection equipment performed well. For the flat-panel display industry, deliveries of optical system products for observation, inspection, and processing applications to certain major customers progressed, resulting in a substantial increase in revenue. In the United States and Europe, demand remained solid for both universities and government agencies and the industrial sector, while Southeast Asia continued to recover as the impact of COVID-19 eased.」
Demand from universities and national research and development agencies was solid, as was semiconductor-related demand and demand in the United States and Europe. The substantial increase in revenue from large FPD deliveries and the recovery trend in Southeast Asian demand continued. - FY2023-Q2Large FPD projects and recovery in Southeast Asian demandAnnual report
「Within the Group, demand in research and development for universities and national research and development agencies remained flat. Demand in research and development for private-sector companies and in the industrial sector was generally solid, supported by the recovery trend in research and development and capital investment, particularly in electronics. For the electronic components and semiconductor industries, mainly in Japan and Asia, optical basic equipment products and optical elements and thin-film products for embedded applications in laser processing and inspection equipment performed well. For the flat-panel display industry, deliveries of optical system products for observation, inspection, and processing applications to certain major customers progressed, resulting in a substantial increase in revenue. Demand for automated application products for the biotechnology and communications industries remained solid. In the United States, optical basic equipment products remained solid, mainly for the biotechnology and medical industries. In Europe, optical elements and thin-film products remained solid for both universities and government agencies and the industrial sector. In Southeast Asia, the impact of COVID-19 gradually eased, and business continued to recover.」
Demand continued to diverge by region and customer sector, while large deliveries to the FPD industry resulted in a substantial increase in revenue and Southeast Asia recovered from the impact of the pandemic. - FY2023-Q1Recovery in Southeast Asia and continued regional and customer divergenceAnnual report
「Within the Group, demand in research and development for universities and national research and development agencies remained somewhat weak. Demand in research and development for private-sector companies and in the industrial sector was generally solid, supported by the recovery trend in research and development and capital investment, particularly in electronics. For the electronic components and semiconductor industries, mainly in Japan and Asia, optical system products performed well, including optical elements and thin-film products for embedded applications in laser processing and inspection equipment, optical basic equipment products, and optical unit products for embedded applications in laser processing and inspection equipment for the flat-panel display industry. Automated application products for the biotechnology industry remained solid. In the United States, optical element components remained solid, mainly for the biotechnology and medical industries. In Europe, optical element components remained solid for both universities and government agencies and the industrial sector. In Southeast Asia, business continued to recover from the impact of COVID-19.」
Demand from universities and national research and development agencies was somewhat weak, while demand in the private-sector and industrial sectors, semiconductors, FPDs, and the United States and Europe was solid or strong, and Southeast Asia entered a recovery trend from the impact of the pandemic. - FY2022Continued demand recovery and divergence by region and productAnnual report
「Within the Group, demand in research and development for universities and national research and development agencies remained somewhat weak. Demand in research and development for private-sector companies and in the industrial sector was generally solid, as research and development and capital investment, particularly in electronics, showed signs of recovery.」
Demand remained solid or strong in the private-sector and industrial sectors and in semiconductors and biotechnology, while demand from universities and national research and development agencies and in Southeast Asia remained weak, continuing the divergence in demand. - FY2022-Q3Divergence by customer segment and product amid demand recoveryAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained soft. In the research and development field serving private-sector companies and the industrial sector, research and development and capital investment, centered on electronics, followed a recovery trend and remained firm overall. In the electronic components and semiconductor industries, mainly in Japan and Asia, optical elements and thin-film products and basic optical equipment products for laser processing machines and inspection equipment, as well as automated application products for the biotechnology industry, performed strongly. Meanwhile, although demand for system products such as lens units for the FPD industry remained firm, revenue was sluggish due in part to delivery timing. In the United States, optical components remained firm, mainly in the biotechnology and medical industries, and in Europe, optical components for the research and development and industrial sectors also remained firm.」
Demand in electronics, semiconductors, biotechnology, the United States and Europe remained firm or strong, while demand from universities and national research and development agencies weakened. FPD demand remained firm, but revenue was sluggish due to delivery timing, indicating divergence by customer segment and product. - FY2022-Q2Recovery trend continues, while FPD demand weakensAnnual report
「In the research and development field serving private-sector companies and the industrial sector, research and development and capital investment, centered on electronics, followed a recovery trend and remained firm overall. In the electronic components and semiconductor industries, mainly in Japan and Asia, demand for embedded optical components for laser processing machines and inspection equipment remained strong. Meanwhile, demand in the FPD industry remained soft due to the impact of projects being pushed back as a result of production adjustments by some customers. Demand in the biotechnology and communications industries remained firm, while demand in the defense industry remained resilient.」
Demand continued to recover or strengthen across a broad range of areas, including research and development, capital investment, semiconductors, biotechnology, communications, the United States and Europe. FPD demand weakened as projects were pushed back due to customer production adjustments, while defense demand shifted from firm to resilient. - FY2022-Q1Broad-based market recovery, with defense demand weakeningAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained firm. In the research and development field serving private-sector companies and the industrial sector, research and development and capital investment showed signs of recovery, and demand remained firm overall. In the electronic components and semiconductor industries, mainly in Japan and Asia, demand for embedded optical components for laser processing machines and inspection equipment remained strong, while demand for optical system products for the FPD industry remained resilient. Demand in the biotechnology and communications industries remained firm, while demand in the defense industry weakened. In the United States, demand remained firm, mainly in the biotechnology and medical industries, and in Europe, demand for optical components for the research and development and industrial sectors also remained firm.」
Demand recovered or remained firm across a broad range of areas, including universities and research institutions, private-sector companies and the industrial sector, semiconductors, biotechnology, communications, the United States and Europe, while demand in the defense industry weakened, indicating continued divergence. - FY2021Recovery in some markets and continued divergence in demandAnnual report
「In the electronic components and semiconductor industries, mainly in Japan and Asia, demand for embedded optical components for laser processing machines and inspection equipment followed a recovery trend, while demand for optical system products for the FPD industry showed signs of a gradual recovery. Demand in the defense and communications industries remained firm. Demand in the biotechnology industry followed a recovery trend, while demand in the medical industry remained soft.」
Some demand, including electronic components and semiconductors, FPDs and biotechnology, recovered or showed signs of recovery, while defense and communications remained firm and medical demand remained soft, indicating continued divergence. - FY2021-Q3RestatedAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained firm. In the research and development field serving private-sector companies and the industrial sector, demand for embedded optical components for laser processing machines and inspection equipment in the electronic components and semiconductor industries, mainly in Japan and Asia, followed a recovery trend in some areas, while demand for optical system products for the FPD industry showed signs of a gradual recovery. Demand in the defense and communications industries remained firm. Meanwhile, some demand in the biotechnology and medical industries followed a recovery trend but remained soft overall.」
Demand from the electronic components and semiconductor industries followed a recovery trend, FPD demand showed a gradual recovery, and demand in the defense and communications industries was firm, while biotechnology and medical demand remained generally soft despite some signs of recovery, indicating continued divergence in demand. - FY2021-Q2Recovery in some markets alongside divergent demandAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained firm. The research and development field serving private-sector companies and the industrial sector remained soft against a backdrop including the global economic slowdown at the beginning of the period. Within the electronic components and semiconductor industries, mainly in Japan and Asia, demand for embedded optical components for laser processing machines and inspection equipment showed a recovery trend in some areas, while demand for optical system products for the FPD industry showed signs of a gradual recovery. Demand in the defense and communications industries remained firm. Meanwhile, demand in the biotechnology and medical industries showed signs of recovery but remained soft overall. In the United States, demand for basic optical equipment products for the biotechnology and medical industries remained soft, while in Europe, demand for optical components for the research and development and industrial sectors remained soft.」
Demand from universities and national research and development agencies, and in communications and defense, remained firm. Demand from the electronic components and semiconductor industries followed a recovery trend, and demand from the FPD industry showed signs of recovery. Meanwhile, some demand in the private-sector and industrial fields, biotechnology and medical industries, and the United States and Europe was soft or weakening. - FY2021-Q1WorsenedAnnual report
「Within our Group, demand in research and development fields for universities and national research and development agencies remained firm. In research and development and industrial fields for private-sector companies, demand remained soft as capital investment adjustments continued against the backdrop of a slowdown in the global economy. Among the electronic components and semiconductor industries, mainly in Japan and Asia, demand in some areas for optical components for incorporation into laser processing machines and inspection equipment showed a gradual recovery, while demand for optical systems products for the flat-panel display industry remained soft. Demand for optical systems products for the defense industry and optical components for the communications industry remained on an upward trend. By contrast, demand for optical components for the biotechnology industry and optical systems products for the medical industry remained soft. In the United States, demand for optical components serving the biotechnology and medical industries remained soft. In Europe, demand for optical components for universities, government agencies and industrial applications remained weak.」
Capital investment remained in an adjustment phase, and some demand in FPDs, biotechnology, medical products, and the United States and Europe was soft or weakening. Meanwhile, demand increased or remained firm in areas including defense and communications, resulting in greater divergence in demand. - FY2020-Q3WorsenedAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained flat. In the research and development field serving private-sector companies and the industrial sector, capital investment stagnated against a backdrop of the increasingly pronounced global economic slowdown, and demand remained soft. In the FPD and electronic components and semiconductor industries, demand for optical system products and optical elements and thin-film products embedded in laser processing machines and inspection equipment remained soft, while demand for automated application products remained firm. Demand for optical unit products for the defense and medical industries followed a gradual recovery trend, while demand for optical components for the biotechnology industry remained soft. In the United States, demand for basic optical equipment products for the biotechnology and medical industries remained firm. In Europe, demand for optical components for the research and development and industrial sectors remained soft.」
Capital investment stagnated, demand for FPD, electronic components and semiconductors softened, and demand for biotechnology and Europe weakened. Meanwhile, some areas of automated application products, U.S. basic optical equipment, and defense and medical products remained firm or followed a recovery trend. - FY2020-Q2WorsenedAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained flat. In the research and development field serving private-sector companies and the industrial sector, capital investment showed signs of stagnation against a backdrop of the global economic slowdown, and demand remained soft. In the FPD and electronic components and semiconductor industries, demand for optical system products and optical elements and thin-film products embedded in laser processing machines and inspection equipment remained soft. Demand for optical unit products for the defense and medical industries followed a gradual recovery trend, while demand for automated application products such as automatic positioning equipment for the biotechnology industry remained firm. In the United States, demand for basic optical equipment products for the biotechnology and medical industries remained firm. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained soft.」
Capital investment stagnated, demand for FPD, electronic components and semiconductors weakened, and European demand softened. Meanwhile, demand in some defense, medical, biotechnology and U.S. segments recovered or remained firm. - FY2020-Q1WorsenedAnnual report
「Within the Group, demand in the research and development field serving universities and national research and development agencies remained stable. In the research and development field serving private-sector companies and the industrial sector, capital investment showed signs of stagnation against a backdrop of heightened uncertainty over the global economic outlook, and demand remained soft. In the FPD and electronic components and semiconductor industries, demand for optical system products and optical elements and thin-film products embedded in laser processing machines and inspection equipment remained soft. Demand for optical unit products for the defense and medical industries followed a gradual recovery trend, while demand for automated application products such as automatic positioning equipment for the biotechnology industry remained firm. In the United States, demand for basic optical equipment products for the biotechnology and medical industries remained firm and followed a recovery trend. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained soft.」
Capital investment by private-sector companies and in the industrial sector stagnated, and demand for some products for the FPD, electronic components and semiconductor industries was soft. Some areas of defense, medical, biotechnology and U.S. demand were recovering or firm, while European demand weakened. - FY2019WorsenedAnnual report
「In the research and development field serving private-sector companies and the industrial sector, the pace of capital investment growth, which had been firm at the beginning of the period, entered a slowdown phase in the latter half, and demand remained flat. In the FPD and electronic components and semiconductor industries, mainly in Japan and Asia, there were adverse effects including production and inventory adjustments by some customers.」
The pace of capital investment growth slowed in the latter half of the period, and a decline following customer production and inventory adjustments emerged. - FY2019-Q3Softer demand and the impact of customer adjustmentsAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, budget execution progressed and demand remained flat. In the research and development field serving private-sector companies and the industrial sector, demand remained flat as the pace of capital investment growth slowed somewhat. In the FPD and electronic components and semiconductor industries, mainly in Japan and Asia, optical unit products, including processing lens units and observation optical systems embedded in laser processing machines and inspection equipment, were somewhat soft due in part to the impact of production and inventory adjustments by some customers, while demand for basic optical equipment products and optical elements and thin-film products remained firm. Demand for optical unit products was soft partly because major projects for the defense and medical industries were pushed into the following fiscal year. Meanwhile, demand for automated application products such as automatic positioning equipment for the biotechnology industry remained firm. In the United States, demand for embedded optical components for the biotechnology, medical, electronic components and semiconductor industries remained weak due in part to customer production and inventory adjustments. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained firm.」
Some demand weakened due to slower capital investment, customer production and inventory adjustments, and major projects being pushed into the following fiscal year, while demand for basic optical equipment, optical elements and thin-film products, automated application products and in Europe remained firm. - FY2019-Q2Diverging demand, with some areas weakeningAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, budget execution was cautious, and demand remained somewhat soft. In the research and development field serving private-sector companies and the industrial sector, the pace of capital investment growth slowed somewhat but remained on a gradual recovery trend, mainly in the FPD and electronic components and semiconductor industries in Japan and Asia. Demand for optical unit products, including processing lens units and observation optical systems embedded in laser processing machines and inspection equipment, remained flat, while demand for optical elements and thin-film products such as lenses and mirrors, as well as automated application products such as automatic positioning equipment, remained firm. In the United States, demand for embedded optical components for the biotechnology, medical, electronic components and semiconductor industries remained weak. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained firm.」
Demand from universities and national research and development agencies was somewhat soft, optical units were flat, and some U.S. demand was weak, while optical elements and thin-film products, automated application products and European demand remained firm, indicating divergent demand trends. - FY2019-Q1Demand diverged by region and customer segmentAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, budget execution was cautious, and demand, centered on optical components, remained flat. In the research and development field serving private-sector companies and the industrial sector, active capital investment continued among electronics industries related to semiconductors, electronic components and flat-panel displays (FPDs), mainly in Japan and Asia. Demand for optical system products, including embedded optical components and optical modules for laser processing machines and inspection equipment, remained firm. In the United States, demand for embedded optical components for the biotechnology, medical, semiconductor and optical measurement industries remained flat. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained firm.」
Demand from universities and national research and development agencies and some U.S. demand was flat, while electronics-related demand in Japan and Asia and European demand remained firm, indicating differences by region and customer segment. - FY2018Demand expanded, including overseas demandAnnual report
「Demand continued to expand, supported by active research and development and capital investment in Japan and overseas. Demand for optical components for the research and development and industrial sectors in Europe also remained firm.」
Demand expanded, supported by research and development and capital investment in Japan and overseas, while European demand also increased and remained firm. - FY2018-Q3Demand continued to expand and remained strongAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, execution of research and development budgets became active toward the end of the fiscal year, and demand remained firm. In the research and development field serving private-sector companies and the industrial sector, capital investment was active in industries related to the increasing functionality and capacity of smartphones and the development of IoT, including automotive devices, mainly in Japan and Asia, as well as in the FPD industry, where the shift to OLEDs and the enlargement and higher resolution of LCD panels continued. Demand for optical unit products, including lens units embedded in laser processing machines and inspection equipment, remained strong. In the United States, demand for embedded optical components for the biotechnology, medical and semiconductor industries remained firm. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained firm.」
Demand from universities and national research and development agencies remained firm, demand for optical units in Japan and Asia was strong, and demand in the United States and Europe remained firm. - FY2018-Q2Broadly firmer domestic and overseas demandAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, research and development budget execution progressed gradually, and demand remained firm. In the research and development field serving private-sector companies and the industrial sector, capital investment was active in industries related to the increasing functionality and capacity of smartphones and the development of IoT, including automotive devices, mainly in Japan and Asia, as well as in the FPD industry, where the shift to OLEDs and the enlargement and higher resolution of LCD panels continued. Demand for optical unit products, including lens units embedded in laser processing machines and inspection equipment, remained strong. In the United States, demand for embedded optical components for the biotechnology, medical and semiconductor industries remained firm. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained firm.」
Demand from universities and national research and development agencies improved from flat to firm, and European demand also improved from soft to firm. Demand for optical units in Japan and Asia and demand in the United States remained firm or strong. - FY2018-Q1Demand trends changed by market and regionAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, demand remained flat as budget execution progressed gradually. In the research and development field serving private-sector companies and the industrial sector, capital investment was active in industries related to the increasing functionality and capacity of smartphones, the development of IoT and growing demand for automotive devices, mainly in Japan and Asia, as well as in the FPD industry, where the shift to OLEDs and the enlargement of some LCD panels continued. Demand for optical unit products, including lens units embedded in laser processing machines and inspection equipment, remained strong. In the United States, demand for embedded optical components for the biotechnology, medical and semiconductor industries remained firm. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained firm.」
Demand from universities and national research and development agencies changed from firm to flat, while demand for optical units in Japan and Asia remained strong, U.S. demand remained firm, and European demand improved from soft to firm. Demand drivers including higher smartphone functionality and capacity, IoT, automotive devices and the shift to OLEDs continued. - FY2017-Q3Demand trends changed by market and regionAnnual report
「Within the Group, in the research and development field serving universities and national research and development agencies, execution of research and development budgets became active toward the end of the fiscal year, and demand for optical components remained firm. In the research and development field serving private-sector companies and the industrial sector, capital investment was active in industries such as semiconductors and electronic components related to the domestic and Asian smartphone and automotive markets, as well as the FPD industry, where the shift to OLEDs and the enlargement of some LCD panels continued. Demand for embedded optical components and optical system products remained firm. In the United States, demand for embedded optical components for the biotechnology, medical and semiconductor industries remained firm. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, remained soft.」
Demand from universities and national research and development agencies improved from soft to firm, and U.S. demand improved from flat to firm. European demand, meanwhile, changed from flat to soft, while new demand drivers emerged from the automotive market and the shift to OLEDs. - FY2017-Q2First statedAnnual report
「In the research and development field serving universities and national research and development agencies, execution of research and development budgets was sluggish, and demand for optical components remained soft. In the research and development field serving private-sector companies and the industrial sector, capital investment was active in industries such as semiconductors and electronic components related to the domestic and Asian mobile-device markets, which move in line with smartphone production cycles, and the mobile FPD industry. Demand for embedded optical components and optical system products remained firm. In the United States, demand for embedded optical components for the biotechnology and medical industries remained flat. In Europe, demand for optical components for the research and development fields serving universities and government agencies, as well as for the industrial sector, also remained flat.」
Demand differed by customer segment and region: demand from universities and national research and development agencies was soft, demand related to semiconductors, electronic components and mobile FPDs was firm, and some demand in the United States and Europe was flat.