Declining Revenue and Profit in the FPD Manufacturing Equipment Business
First written in FY2018-Q1. 11 of 26 entries say "Advanced", first in FY2018-Q2. Latest entry: FY2024.
Tokyo Electron Limited moved to the "Worse" side of this theme in 2022, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 5 of 13 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「This change reflects, among other factors, the integration of the FPD production equipment business into the semiconductor production equipment business through an organisational restructuring conducted in April 2023, as the semiconductor production equipment market was achieving steady growth and was expected to continue growing strongly, the FPD production equipment business had become less significant to the Group as a whole, and the restructuring was intended to use resources more efficiently.」
The full-year segment notes reaffirm the reasons for ending standalone disclosure of the FPD production equipment business and integrating it into the semiconductor production equipment business. - FY2024-Q1ReframedAnnual report
「The Group's reportable segments were previously classified as semiconductor manufacturing equipment and FPD (flat-panel display) manufacturing equipment, but from the first quarter of the current fiscal year, they have been changed to a single reportable segment, semiconductor manufacturing equipment.」
The FPD production equipment business was integrated into the semiconductor production equipment business in April 2023, and standalone disclosure of FPD segment results was discontinued. This was described as a change in organisational and reporting structure, not the discontinuation of the FPD business itself. - FY2023WorsenedAnnual report
「The segment’s net sales for the fiscal year were ¥53.674 billion, down 10.3% from the previous fiscal year, while segment profit was ¥1.061 billion, down 72.6%.」
The FPD production equipment business posted lower sales and profit for the full year due to investment adjustments during the transition from LCD to OLED. - FY2023-Q3WorsenedAnnual report
「Against this backdrop, the segment’s net sales for the nine months ended the third quarter were ¥38.734 billion, down 12.6% year on year, while segment profit was ¥1.056 billion, down 63.3%.」
The FPD production equipment business continued to post lower sales and profit, with cumulative net sales down 12.6% and segment profit down 63.3% against a backdrop of a market slowdown following the peak in investment in large LCD applications. - FY2023-Q2AdvancedAnnual report
「As investment in equipment for large LCD panels for televisions reached a peak, the overall FPD TFT array production equipment market began to slow. Meanwhile, investment in equipment for small- and medium-sized OLED panels continued as displays in end products shifted from LCD to OLED. Against this backdrop, the segment’s net sales for the six months ended the second quarter were ¥29.759 billion, up 11.5% year on year, while segment profit was ¥1.39 billion, up 56.1%.」
Although the overall FPD market was trending slower, the FPD production equipment segment posted year-on-year increases in both sales and profit, supported by continued investment in small- and medium-sized OLED applications. - FY2023-Q1WorsenedAnnual report
「As investment in equipment for large LCD panels for televisions reached a peak, the overall FPD TFT array production equipment market began to slow. Meanwhile, investment in equipment for small- and medium-sized OLED panels continued as displays in end products shifted from LCD to OLED. Against this backdrop, the segment’s net sales for the three months ended the first quarter were ¥9.614 billion, down 31.8% year on year, while segment loss was ¥615 million, compared with segment profit of ¥1.666 billion in the same period of the previous year.」
The FPD production equipment business saw net sales decline 31.8% and swung from profit in the same period of the previous year to a loss of ¥615 million. - FY2022WorsenedAnnual report
「The segment’s net sales for the fiscal year were ¥59.83 billion, down 28.6% from the previous fiscal year, while segment profit was ¥3.874 billion, down 56.1%.」
The FPD production equipment business posted lower sales and profit for the full year against a backdrop of investment adjustments during the transition to small- and medium-sized OLEDs. - FY2022-Q3WorsenedAnnual report
「Against this backdrop, the segment’s net sales for the nine months ended the third quarter were ¥44.322 billion, down 26.2% year on year, while segment profit was ¥2.881 billion, down 62.2%.」
The FPD production equipment segment’s cumulative net sales fell 26.2% and segment profit fell 62.2% against a backdrop of a market slowdown following the peak in investment in large LCD applications. Investment in small- and medium-sized OLED applications continued. - FY2022-Q2WorsenedAnnual report
「As investment in equipment for large LCD panels for televisions reached a peak, the overall FPD TFT array production equipment market began to slow. Meanwhile, investment in equipment for small- and medium-sized OLED panels continued as displays in end products shifted from LCD to OLED. Against this backdrop, the segment’s net sales for the six months ended the second quarter were ¥26.682 billion, down 18.2% year on year, while segment profit was ¥890 million, down 67.2%.」
The overall market slowed as investment in large LCD applications reached a peak, and the FPD production equipment segment’s cumulative net sales fell 18.2% and segment profit fell 67.2%. Investment in small- and medium-sized OLED applications continued. - FY2022-Q1AdvancedAnnual report
「Against this backdrop, the segment’s net sales for the three months ended the first quarter were ¥14.09 billion, up 27.9% year on year, while segment profit was ¥1.666 billion, up 219.0%.」
The FPD production equipment segment turned from lower sales and profit in the same period of the previous year to a 27.9% increase in net sales and a 219.0% increase in segment profit. - FY2021Mention higher sales and lower profitAnnual report
「The segment’s net sales for the fiscal year were ¥83.772 billion, up 26.8% from the previous fiscal year, while segment profit was ¥8.823 billion, down 16.7%.」
The FPD production equipment business increased net sales by 26.8% against a backdrop of recovering market investment, while segment profit declined 16.7%, resulting in higher sales but lower profit. - FY2021-Q3AdvancedAnnual report
「Capital investment in equipment for large LCD panels for televisions continued, and investment in equipment for small- and medium-sized OLED panels for mobile devices also remained firm. In China, the largest market, delays in equipment start-ups caused by the impact of COVID-19 were resolved, and net sales increased from the second quarter. Against this backdrop, the segment’s net sales for the nine months ended the third quarter were ¥60.025 billion, up 16.1% year on year, while segment profit was ¥7.616 billion, down 2.6%.」
Following the resolution of delays in equipment start-ups in China, the FPD production equipment segment’s net sales turned to a 16.1% year-on-year increase. Segment profit, however, declined 2.6%. - FY2021-Q2Mention both the recovery in FPD investment and cumulative declines in sales and profitAnnual report
「Capital investment in equipment for large LCD panels for televisions continued, and investment in equipment for small- and medium-sized OLED panels for mobile devices also remained firm. In China, the largest market, conditions improved as equipment start-ups that had been temporarily suspended due to the impact of COVID-19 resumed, and net sales increased steadily in the second quarter. Against this backdrop, the segment’s net sales for the six months ended the second quarter were ¥32.636 billion, down 14.9% year on year, while segment profit was ¥2.719 billion, down 55.6%.」
The FPD production equipment segment cited a recovery in investment in large LCD and small- and medium-sized OLED applications, as well as the resumption of equipment start-ups in China, but cumulative net sales were down 14.9% and segment profit was down 55.6%. - FY2021-Q1WorsenedAnnual report
「Capital investment in equipment for large LCD panels for televisions continued, while investment in equipment for small- and medium-sized OLED panels for mobile devices is expected to enter a recovery phase going forward. Against this backdrop, the segment’s net sales for the three months ended the first quarter were ¥11.013 billion, down 39.6% year on year, while segment profit was ¥522 million, down 85.1%.」
Although the FPD production equipment segment indicated the prospect of an investment recovery, first-quarter net sales fell 39.6% and segment profit fell 85.1%. - FY2020WorsenedAnnual report
「The segment’s net sales for the fiscal year were ¥66.092 billion, down 40.6% from the previous fiscal year, while segment profit was ¥10.589 billion, down 56.3%.」
The FPD production equipment segment posted substantial declines in both sales and profit for the full year, against a backdrop of a pause in investment in small- and medium-sized OLEDs and delays in recording sales due to the impact of COVID-19. - FY2020-Q3WorsenedAnnual report
「Capital investment in equipment for small- and medium-sized panels for mobile devices is undergoing a temporary adjustment, but is expected to recover going forward, while capital investment in equipment for large LCD panels for televisions is also expected to continue. Against this backdrop, the segment’s net sales for the nine months ended the third quarter were ¥51.71 billion, down 36.2% year on year, while segment profit was ¥7.82 billion, down 56.2%.」
The FPD production equipment segment’s year-on-year declines widened from the previous cumulative quarter, with net sales down 36.2% and segment profit down 56.2%. - FY2020-Q2WorsenedAnnual report
「Capital investment in equipment for small- and medium-sized panels for mobile devices, as well as for large LCD panels for televisions, is undergoing adjustment, but the company expects a recovery trend to emerge in the second half of the fiscal year. Against this backdrop, the segment’s net sales for the six months ended the second quarter were ¥38.33 billion, down 26.9% year on year, while segment profit was ¥6.128 billion, down 48.8%.」
Amid investment adjustments, the FPD production equipment segment’s net sales and segment profit for the six months ended the second quarter declined year on year. - FY2020-Q1AdvancedAnnual report
「Against this backdrop, the segment’s net sales for the three months ended the first quarter were ¥18.229 billion, up 20.6% year on year, while segment profit was ¥3.5 billion, up 43.1%.」
The FPD production equipment segment posted higher sales and profit in the first quarter despite market conditions characterised by investment adjustments and a slowdown. - FY2019AdvancedAnnual report
「The segment’s net sales for the fiscal year were ¥111.261 billion, up 48.2% from the previous fiscal year, while segment profit was ¥24.241 billion, up 82.3%.」
The FPD production equipment segment posted substantial increases in both sales and profit for the full year and launched equipment for 10.5-generation applications and OLED production. - FY2019-Q3AdvancedAnnual report
「In addition to capital investment in equipment for large LCD panels for televisions in China, capital investment in equipment for small- and medium-sized OLED panels for smartphones also continued, and the FPD production equipment market remained strong. Against this backdrop, the segment’s net sales for the nine months ended the third quarter were ¥81.066 billion, up 79.0% year on year, while segment profit was ¥17.837 billion, up 206.9%.」
The FPD production equipment segment posted higher sales and profit for the nine months ended the third quarter, supported by investment in large LCD and small- and medium-sized OLED panels in China. - FY2019-Q2AdvancedAnnual report
「Against this backdrop, the segment’s net sales for the six months ended the second quarter were ¥52.468 billion, up 80.8% year on year, while segment profit was ¥11.967 billion, up 339.3%.」
The FPD production equipment segment increased both net sales and segment profit year on year, supported by investment in large LCD and small- and medium-sized OLED panels in China. - FY2019-Q1AdvancedAnnual report
「In China, large-scale capital investment was made in equipment for large LCD panels for televisions, while capital investment in equipment for small- and medium-sized OLED panels for smartphones also continued, and the FPD production equipment market remained firm. Against this backdrop, the segment’s net sales for the three months ended the first quarter were ¥15.113 billion, up 5.5% year on year, while segment profit was ¥2.446 billion, up 432.3%.」
The FPD production equipment segment shifted from lower sales and profit in the same period of the previous year to higher sales of ¥15.113 billion and segment profit of ¥2.446 billion in the first quarter. - FY2018AdvancedAnnual report
「The segment’s net sales for the fiscal year were ¥75.068 billion, up 52.0% from the previous fiscal year, while segment profit was ¥13.299 billion, up 187.9%. During the fiscal year, the segment also launched the “Betelex 1800 PICP” dry etching system for high-definition flat-panel displays.」
The FPD production equipment segment posted higher sales and profit for the full year and launched a dry etching system for high-definition FPDs. - FY2018-Q3AdvancedAnnual report
「Investment in production equipment for large LCD panels for televisions expanded, led by China, while capital investment in equipment for small- and medium-sized panels for mobile devices also continued, and the FPD production equipment market remained strong. Against this backdrop, the segment’s net sales for the nine months ended the third quarter were ¥45.289 billion, up 39.9% year on year, while segment profit was ¥5.812 billion, up 161.8%.」
The FPD production equipment segment posted net sales of ¥45.289 billion and segment profit of ¥5.812 billion for the nine months ended the third quarter, representing year-on-year increases in both sales and profit. - FY2018-Q2AdvancedAnnual report
「The segment’s net sales for the six months ended the second quarter were ¥29.024 billion, up 13.9% year on year, while segment profit was ¥2.724 billion, up 57.1%.」
Following lower sales and profit in the first quarter, the FPD production equipment segment posted year-on-year increases in both net sales and profit for the six-month period. - FY2018-Q1First statedAnnual report
「The segment’s net sales for the three months ended the first quarter were ¥14.323 billion, down 16.1% year on year, while segment profit was ¥459 million, down 61.6%.」
Although the FPD production equipment market was described as firm, the segment’s net sales and segment profit in the first quarter were both below the levels of the same period of the previous year.