Risk of Business Constraints Arising from National Industrial and National Security Policies and Export Controls
First written in FY2021. 1 of 5 entries say "Worsened", first in FY2023-Q1. Latest entry: FY2026.
Tokyo Electron Limited moved to the "Worse" side of this theme in 2022, 3 years before the typical company in this theme (2025).
The whole theme swung hardest in 2022: 4 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Other".
- FY2026Geopolitical Tensions and Supply Chain Impacts SpecifiedAnnual report
「The Group will continue to monitor the situation closely, as a prolonged escalation of tensions in the Middle East could disrupt supply chains.」
The company specifically states that a prolonged escalation of tensions in the Middle East could disrupt supply chains as part of its geopolitical risk discussion. - FY2025ReframedAnnual report
「The Group has a high proportion of overseas sales and operates in various countries and regions. Geopolitical confrontations and regional conflicts that affect the international order and the global macroeconomic environment may affect the national security, foreign, industrial and environmental policies of individual countries and regions. This may result in supply chain disruptions and deterioration in the macroeconomic environment, constrain the Company’s business activities and affect the performance of the Group.」
The company has reorganized its previous discussion, which focused mainly on industrial policy, national security policy and export controls, as geopolitical risk encompassing regional conflicts, the international order and the supply chain. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the global economy was affected by the impact on supply chains from lockdowns in some regions due to the spread of COVID-19, soaring resource prices amid heightened geopolitical risks, policy rate hikes led by the United States and Europe, and foreign exchange fluctuations.」
In addition to the industrial and national security policies of various countries described previously, rising geopolitical risks and surging resource prices are now identified as part of the external environment. - FY2022Geopolitical risk response made more specificAnnual report
「The Group monitors international developments, diplomatic and national security measures in various countries and regions, and trends in industrial policy, and anticipates the impact on its business of regulations concerning product imports and exports and technology development, as well as fluctuations in the macroeconomic environment. In addition to considering response measures in advance, the Group works to identify risks at an early stage and respond promptly and appropriately when risks materialize, including by communicating its views to policymakers through public comments and other means.」
The company has specified its response to risks arising from national industrial and national security policies and export controls, including assumptions regarding regulatory and macroeconomic impacts, measures to be taken in advance and the submission of views to policymakers. - FY2021First statedAnnual report
「As semiconductors attract increasing international attention, countries and regions are pursuing the localization of semiconductor-related businesses, policies prioritizing domestic products, export controls and tighter environmental laws and regulations from the perspectives of industrial policy, national security and environmental policy. If these developments constrain the Company’s business activities, they may affect the performance of the Group.」
The company has separately identified the possibility that semiconductor localization, preference for domestic products, export controls and tighter environmental regulations in various countries may constrain business activities as geopolitical risks.