Geopolitical Risks, Including the Situation Involving Russia and Ukraine
First written in FY2022-Q3. 3 of 9 entries say "Reframed", first in FY2024-Q1. Latest entry: FY2026-H1.
Nissou moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 104 of 134 companies on the "Worse" side.
10 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「Japan’s economy during the interim consolidated accounting period under review has been recovering moderately, although the effects of U.S. trade policy have been seen mainly in the automotive industry. Looking ahead, improvements in employment and income conditions and the effects of various policy measures are expected to support a moderate recovery, although attention must be paid to risks that could put downward pressure on the economy, including future price trends and developments concerning U.S. trade policy. Continued attention must also be paid to the effects of volatility in financial and capital markets.」
The focus has shifted from the previous description centered on the situations involving Russia and Ukraine and the Middle East to a description identifying U.S. trade policy, price trends and volatility in financial and capital markets as factors that could put downward pressure on the economy. - FY2025-H1ReframedAnnual report
「Japan’s economy during the interim consolidated accounting period under review has been recovering moderately, although some areas have shown signs of stagnation. Looking ahead, a moderate recovery is expected to continue as employment and income conditions improve and various policy measures take effect. However, the effects of persistently high interest rates in Europe and the United States and the continued stagnation of China’s real estate market, among other factors, pose risks that a downturn in overseas economies will put downward pressure on Japan’s economy. In addition, close attention must be paid to the effects of rising prices, U.S. policy developments, developments in the Middle East and volatility in financial and capital markets.」
The focus has shifted from the previous description centered on the situation involving Russia and Ukraine to a description of the economic environment including high interest rates in Europe and the United States, stagnation in China’s real estate market, U.S. policy developments and the situation in the Middle East. - FY2024WorsenedAnnual report
「The outlook remains uncertain amid downside risks to the economy from rising prices and globally tighter monetary policy, volatility in financial and capital markets, the prolonged situation involving Ukraine and heightened geopolitical risks surrounding the Middle East.」
In addition to the previous references to the situation involving Russia and Ukraine, rising prices and volatility in financial markets, heightened geopolitical risks surrounding the Middle East are also noted. - FY2024-Q2Added the impact of the Noto Peninsula EarthquakeAnnual report
「Looking ahead, a moderate recovery is expected to continue as employment and income conditions improve and various policy measures take effect. However, downside risks to overseas economies, including the effects of globally tighter monetary policy and concerns over the outlook for the Chinese economy, pose risks of putting downward pressure on Japan’s economy. In addition, close attention must be paid to the effects of rising prices, developments in the Middle East, volatility in financial and capital markets, and the economic impact of the Noto Peninsula Earthquake that occurred in January 2024.」
In addition to globally tighter monetary policy, the Chinese economy, rising prices, the situation in the Middle East and volatility in financial and capital markets, the January 2024 Noto Peninsula Earthquake was added as a factor affecting the economy. - FY2024-Q1ReframedAnnual report
「Japan’s economy during the consolidated fiscal year under review was recovering moderately. Looking ahead, a moderate recovery is expected to continue as employment and income conditions improve and various policy measures take effect. However, downside risks to overseas economies, including the effects of globally tighter monetary policy and concerns over the outlook for the Chinese economy, pose risks of putting downward pressure on Japan’s economy. In addition, the outlook remains uncertain due to the effects of rising prices, developments in the Middle East and volatility in financial and capital markets.」
The focus has shifted from the previous description centered on the situation involving Russia and Ukraine to a description of the economic environment citing globally tighter monetary policy, concerns over the outlook for the Chinese economy, rising prices, the situation in the Middle East and volatility in financial and capital markets. - FY2023RestatedAnnual report
「Resource and energy prices have continued to rise as a result of the seemingly endless situation involving Russia and Ukraine, while prices have continued to rise against the backdrop of the yen’s sharp depreciation, leaving the outlook uncertain.」
Uncertainty resulting from the prolonged situation involving Russia and Ukraine, rising resource and energy prices, the weaker yen and rising prices continues to be noted. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy was gradually recovering, supported by the effects of various policies, despite continuing uncertainty, including the seventh wave of COVID-19 and the prolonged situation between Russia and Ukraine. However, as global monetary tightening continued, there remained a risk that Japan's economy could be pushed downward by a downturn in overseas economies, higher prices, supply-side constraints and fluctuations in financial and capital markets, requiring continued close monitoring.」
The prolonged situation involving Russia and Ukraine continues to be identified as a factor contributing to uncertainty, while globally tighter monetary policy, rising prices and volatility in financial and capital markets are also identified as downside risks to the economy. - FY2022WorsenedAnnual report
「Although Japan’s economy during the fiscal year under review showed signs of an overall recovery from the effects of the COVID-19 pandemic, uncertainty has continued amid rising resource and energy prices resulting from the prolonged situation involving Russia and Ukraine, as well as rising prices caused by the sharp depreciation of the yen.」
The prolonged situation involving Russia and Ukraine, rising resource and energy prices, the sharp depreciation of the yen and rising prices are explicitly identified as factors contributing to uncertainty. - FY2022-Q3First statedAnnual report
「Amid concerns over geopolitical risks, including surging resource prices and the situation involving Russia and Ukraine, the outlook remains uncertain both in Japan and overseas.」
Geopolitical risks, including the situation involving Russia and Ukraine, are stated for the first time, together with surging resource prices, as factors contributing to uncertainty in Japan and overseas.