The surprise arrest of Huawei Technologies’ chief financial officer Meng Wanzhou is about to impact one of the Chinese company’s suppliers in Japan.
Yaskawa Electric, which supplies industrial robots for Huawei’s smartphone and telecom gear factories, saw all orders for its machines put on hold after the arrest, President Hiroshi Ogasawara said on Wednesday. Of Yaskawa’s $4 billion in revenue for the fiscal year that ended in February, 23 per cent came from China.
“My people on the ground in China say that Huawei is turned upside down internally,” Mr Ogasawara said. “All kinds of capex deals are temporarily on hold as they figure things out.”
Yaskawa’s stock fell as much as 4 per cent before ending the day mostly unchanged. Shares of other factory automation companies Fanuc, SMC and Nabtesco pared gains after the news emerged. A Huawei spokesman said the Chinese company makes decisions on gear purchases months in advance.
“Decisions relating to procurement for this type of equipment were made several months ago,” a spokesman said. “Huawei is unable to intervene in decisions made by other supply chain partners including companies with which we have outsourcing arrangements.”
Ms Meng was arrested in Vancouver at the request of US authorities for allegedly violating sanctions related to selling technology to Iran. While her detention has become an international incident, this is the first indication that it is beginning to affect Huawei’s operations. The arrest has further undermined the international standing of the company, which was already under suspicion in the West because of its ties to the Chinese government.
Separately, Japanese media reported earlier this week that the country’s top three carriers — NTT Docomo, SoftBank Group and KDDI — will ban telecommunications equipment by Huawei and ZTE. France’s Orange said it does not plan to work with Huawei to build its fifth-generation mobile network.
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Read more:
Huawei CFO's arrest will divide countries over China and US
Trump says he may intervene as Huawei CFO granted bail in Canada
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The order freeze is making Yaskawa reconsider its outlook on the timing of demand for 5G phones and communications equipment, because Huawei was at the forefront of the technology’s rollout, Mr Ogasawara said.
Yaskawa said in October his company expects memory chip manufacturers to start making capital investments related to 5G in the spring and see a boost in its own machinery orders by early next year. That outlook is now uncertain because of the events at Huawei, it said.
The Huawei incident and trade tensions with US are not likely to derail 5G’s rollout in China, he said. The deployment is driven by China’s national policy and orders for internal demand will make up for any losses due to trade barriers, Mr Ogasawara said.
Yaskawa has three factories in China, all of which make machines for domestic customers.
Global smartphone output is not likely to decline, but capital investment is likely to remain flat until 5G demand kicks in second half of 2019, he said.
Company%20profile
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Uefa Nations League
League A:
Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands
League B:
Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey
League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania
League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar
COMPANY%20PROFILE
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CONFIRMED%20LINE-UP
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JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
Company%20Profile
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THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
Details
Through Her Lens: The stories behind the photography of Eva Sereny
Forewords by Jacqueline Bisset and Charlotte Rampling, ACC Art Books
COMPANY%20PROFILE
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COMPANY%20PROFILE%20
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Company%20Profile
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ILT20%20UAE%20stars
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Mohammed bin Zayed Majlis
Confirmed%20bouts%20(more%20to%20be%20added)
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Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
UAE'S%20YOUNG%20GUNS
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MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Kill%20Bill%20Volume%201
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The%20specs
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Film: In Syria
Dir: Philippe Van Leeuw
Starring: Hiam Abbass, Diamand Bo Abboud, Mohsen Abbas and Juliette Navis
Verdict: Four stars