Strong global competitiveness in mainstay energy and electric systems and industrial automation systems businesses, coupled with solidified market position in air conditioning equipment unit Competitiveness in power semiconductors and information and communications systems, primarily in the domestic market Stable overall earnings despite a stronger yen and challenging competitive environment, lowering risk of a material decrease Continuing establishment of overseas business infrastructure Slightly lower profitability, smaller scale, and less diversified operations than major overseas competitors in the capital goods industry Increasingly stable cash flow indicators that remain commensurate with the rating Expected increase in investment burden, owing to business strategy to expand capital investments in growth areas Stable financing base Exposure to risk of material volatility of cash flow in times
