The Fuji Electric company released its annual financial results for the fiscal year at the end of April 2021.
The report describes in detail the activities of the different sectors of the company as well as the revenue earned in each of the continents, Japan, and China.
In 2020, Fuji Electric had a turnover of 875.9 billion Japanese yen (7.963 billion US $ ), down 2.7% from a year earlier.
Factors behind this decrease included reductions in demand in the Power Electronics Systems Energy, Food and Beverage Distribution, and Power Generation segments. These reductions in demand were the result of the capital investment curtailments and delivery postponements stemming from the global COVID-19 pandemic. Another factor was the rebound from large-scale orders recorded in the previous fiscal year.
All continents were influenced by the mentioned factors, except China. In China, meanwhile, economic activities were quickly resumed during the first half of the fiscal year, and there were indications of recovery in capital investment in the manufacturing industry with the highest growth about 34% year on year.
There was pronounced growth in domestic(Japan) and overseas semiconductor demand triggered by the popularization of electrified vehicles (xEVs) and renewable energy.