Economic risks including a downturn in the Asian economy and Brexit
First written in FY2017-Q2. 13 of 30 entries say "Restated". Latest entry: FY2026-H1.
Tekken moved to the "Worse" side of this theme in 2020, 2 years after the typical company in this theme (2018).
The whole theme swung hardest in 2022: 18 of 21 companies on the "Worse" side.
8 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「However, the effects of US trade policy and declining consumer sentiment associated with continued price increases pose risks of putting downward pressure on the economy, and sufficient attention must also be paid to the effects of volatility in financial and capital markets.」
In addition to the previous references to overseas economies and financial markets requiring attention, the company identifies US trade policy and the decline in consumer sentiment associated with continued price increases as specific downside risks for the economy. - FY2025-H1WorsenedAnnual report
「However, continued high interest rates in Europe and the United States, concerns over the outlook for China’s economy and developments in the Middle East pose risks of putting downward pressure on the economy, and sufficient attention must be paid to the effects of rising prices and volatility in financial and capital markets.」
In addition to the previous references to overseas economies and financial markets requiring attention, the company identifies high interest rates in Europe and the United States, the outlook for China’s economy and the situation in the Middle East as specific downside risks. - FY2024-Q3RestatedAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, Japan’s economy continued to recover moderately, supported in part by the effects of various government policies. Looking ahead, a downturn in overseas economies, including the effects of global monetary tightening, poses a risk of putting downward pressure on Japan’s economy, and sufficient attention must be paid to the effects of rising prices and volatility in financial and capital markets.」
While indicating a moderate recovery trend, the company continues to note the need to monitor global monetary tightening, a downturn in overseas economies, rising prices and volatility in financial and capital markets. - FY2024-Q2RestatedAnnual report
「Looking ahead, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan’s economy, and sufficient attention must be paid to the effects of rising prices, supply-side constraints and volatility in financial and capital markets.」
Global monetary tightening, a downturn in overseas economies, rising prices, supply-side constraints and volatility in financial and capital markets continue to be identified as economic risks. - FY2024-Q1RestatedAnnual report
「During the three months ended in the first quarter of the current consolidated fiscal year, Japan’s economy continued to recover moderately, supported in part by the effects of various policies under the “with COVID-19” approach. Looking ahead, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan’s economy, and sufficient attention must be paid to the effects of rising prices, supply-side constraints and volatility in financial and capital markets.」
While the constraints on economic activity caused by infections have eased and the economy is showing a moderate recovery trend, the company continues to note the need to monitor global monetary tightening, a downturn in overseas economies, rising prices, supply constraints and volatility in financial and capital markets. - FY2023Reorganisation around the waning effects of infections and the risks of rising prices, yen depreciation and monetary tighteningAnnual report
「Although the effects of the novel coronavirus infection remained, restrictions on activity were eased and socioeconomic activity moved toward normalisation, while the economy continued to recover moderately. Meanwhile, higher energy and food prices and yen depreciation caused by global monetary tightening and other factors increased downward pressure on the domestic economy.」
While the wording has shifted from constraints on economic activity caused by infections to the normalisation of socioeconomic activity, higher energy and food prices, global monetary tightening and yen depreciation are identified as downward pressure factors. - FY2023-Q3RestatedAnnual report
「Looking ahead, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan’s economy, and sufficient attention must be paid to the effects of rising prices, supply-side constraints and volatility in financial and capital markets.」
Global monetary tightening, a downturn in overseas economies, rising prices, supply-side constraints and volatility in financial and capital markets continue to be identified as economic risks. - FY2023-Q2ReframedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, signs of a recovery emerged as infections were brought under control and economic and social activity normalised. Looking ahead, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan’s economy, and sufficient attention must be paid to the effects of rising prices, supply-side constraints and volatility in financial and capital markets.」
While noting a recovery resulting from containment of infections and the normalisation of economic and social activity, the wording has been reorganised from the previous references to infections and the situation in Ukraine toward risks centred on global monetary tightening, a downturn in overseas economies, rising prices and supply constraints. - FY2023-Q1WorsenedAnnual report
「Looking ahead, concern remains over the effects of a prolonged situation in Ukraine and restrictions on economic activity in China, and sufficient attention must be paid to downside risks from higher raw material prices and volatility in financial and capital markets.」
In addition to the previous references to infections, overseas economies and financial markets requiring attention, the company identifies the prolonged situation in Ukraine, restrictions on economic activity in China and higher raw material prices as specific downside factors. - FY2022-Q3SoftenedAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, the severe situation caused by the novel coronavirus infection gradually eased, and signs of a recovery emerged. Looking ahead, as economic and social activity moves toward normalisation, the economy is expected to recover, supported by the effects of various policies and improvements in overseas economies. However, the effects of infections, including variants, on domestic and overseas economies, as well as volatility in financial and capital markets, must be closely monitored.」
The company states that the severe situation caused by the infection gradually eased, with signs of a recovery and expectations for normalisation. At the same time, the need to monitor infections, including variants, and financial and capital markets continues. - FY2022-Q2RestatedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, Japan’s economy remained in a severe situation due to the novel coronavirus infection. However, as measures are taken to prevent the spread of infection and vaccinations are promoted, a continued recovery is expected, supported by the effects of various policies and improvements in overseas economies. Nevertheless, the effects of trends in infections in Japan and overseas and volatility in financial and capital markets must be closely monitored.」
The company continues to note the severe economic situation caused by the novel coronavirus infection and the need to monitor trends in infections and volatility in financial and capital markets. - FY2022-Q1SoftenedAnnual report
「During the three months ended in the first quarter of the current consolidated fiscal year, Japan’s economy remained in a severe situation due to the novel coronavirus infection. However, as measures are taken to prevent the spread of infection and vaccinations are promoted, a continued recovery is expected, supported by the effects of various policies and improvements in overseas economies. Nevertheless, the effects of trends in infections in Japan and overseas and volatility in financial and capital markets must be closely monitored.」
Although the severe situation caused by the novel coronavirus infection and the need to monitor infections and financial markets continue, the company explicitly refers to vaccinations, improvements in overseas economies and expectations for a recovery, somewhat softening the wording from the previous quarter’s focus on downside risks. - FY2021-Q3WorsenedAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, Japan’s economy remained in a severe situation due to the effects of the novel coronavirus infection. Sufficient attention must be paid to the risk that the spread of infection could cause a downturn in domestic and overseas economies through its effects on socioeconomic activity, and the effects of volatility in financial and capital markets must also be closely monitored.」
As the severe economic situation caused by the novel coronavirus infection continues, the company explicitly notes the risk that the spread of infection could cause a downturn in domestic and overseas economies. The previous quarter’s references to expectations for a recovery and improvements in overseas economies have been removed, while downside risks are given greater emphasis. - FY2021-Q2SoftenedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, Japan’s economy remained in a severe situation due to the effects of the novel coronavirus infection. However, as the level of socioeconomic activity is raised while measures are taken to prevent the spread of infection, a continued recovery is expected, supported by the effects of various policies and improvements in overseas economies. Nevertheless, the effects of trends in infections in Japan and overseas and volatility in financial and capital markets must be closely monitored.」
The severe economic situation caused by the novel coronavirus infection and the need to monitor infections and financial markets continue, but the wording has been softened from “extremely severe situation” in the previous quarter to “still severe situation,” and improvements in overseas economies have also been noted. - FY2021-Q1WorsenedAnnual report
「During the three months ended in the first quarter of the current consolidated fiscal year, Japan’s economy was in an extremely severe situation due to the effects of the novel coronavirus infection. However, as the level of socioeconomic activity is gradually raised while measures are taken to prevent the spread of infection, a recovery is expected, supported in part by the effects of various policies. Nevertheless, the effects of trends in infections in Japan and overseas and volatility in financial and capital markets must be closely monitored.」
In addition to the previous need to monitor uncertainty in overseas economies and financial markets, the company states that the domestic economy is in an “extremely severe situation” due to the novel coronavirus infection. - FY2020WorsenedAnnual report
「Concern remains over the risk that the infectious disease could cause a further downturn in domestic and overseas economies and over the effects of volatility in financial markets.」
In addition to the previous uncertainty regarding overseas economies and financial markets, the company explicitly identifies the risk of a downturn in domestic and overseas economies caused by the novel coronavirus infection. - FY2020-Q3Greater specificity regarding China, Brexit and the effects following the consumption tax increaseAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, Japan’s economy continued to recover moderately as employment and income conditions improved, although attention must be paid to the outlook for China’s economy, developments in overseas economies including Brexit, the effects of volatility in financial and capital markets, and trends in consumer sentiment following the consumption tax increase.」
In addition to the previous references to overseas economies and financial markets requiring attention, the company lists specific concerns including the outlook for China’s economy, Brexit and consumer sentiment following the consumption tax increase. - FY2020-Q2RestatedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, Japan’s economy recovered moderately as employment and income conditions continued to improve, although some uncertainty remained regarding the outlook, including uncertainty over developments and policy in overseas economies and the effects of volatility in financial markets.」
Uncertainty over developments and policy in overseas economies and volatility in financial markets have been reiterated as factors contributing to uncertainty about the outlook for the domestic economy. - FY2020-Q1RestatedAnnual report
「During the three months ended in the first quarter of the current consolidated fiscal year, Japan’s economy remained on a moderate recovery trend as employment and income conditions improved, although some uncertainty remained regarding the outlook, including uncertainty over developments and policy in overseas economies and the effects of volatility in financial markets.」
Uncertainty over developments and policy in overseas economies and volatility in financial markets have been reiterated as factors contributing to uncertainty about the outlook for the domestic economy. - FY2019Explicit reference to the consumption tax increase and the outlook for the Chinese economyAnnual report
「Although concern remains over the effect of the consumption tax increase on private consumption, demand is expected to be stimulated by the steady implementation of the government’s economic measures and Tokyo Olympic and Paralympic-related initiatives, among other factors, supporting further progress toward a virtuous economic cycle and continued moderate recovery. However, attention must be paid to developments in overseas economies, including the outlook for China’s economy and the effects of volatility in financial markets.」
In addition to the previous references to overseas economies and financial markets requiring attention, the company specifically identifies the effect of the consumption tax increase on private consumption and the outlook for China’s economy. - FY2019-Q3RestatedAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, Japan’s economy recovered moderately as employment and income conditions continued to improve, although attention must be paid to uncertainty in overseas economies and the effects of volatility in financial and capital markets.」
Uncertainty in overseas economies and volatility in financial and capital markets have been reiterated as matters requiring attention regarding the outlook for the domestic economy. - FY2019-Q2RestatedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, Japan’s economy recovered moderately as employment and income conditions continued to improve, although attention must be paid to uncertainty in overseas economies and the effects of volatility in financial markets.」
Uncertainty in overseas economies and volatility in financial markets have been reiterated as matters requiring attention regarding the outlook for the domestic economy. - FY2019-Q1RestatedAnnual report
「During the three months ended in the first quarter of the current consolidated fiscal year, Japan’s economy remained on a moderate recovery trend as employment and income conditions improved, although some uncertainty remained regarding the outlook, including uncertainty in overseas economies and the effects of financial markets.」
Uncertainty in overseas economies and the effects of financial markets have been reiterated as factors contributing to uncertainty about the outlook for the domestic economy. - FY2018WorsenedAnnual report
「Regarding the outlook for Japan’s economy, demand is expected to be stimulated by the steady implementation of the government’s economic measures and Tokyo Olympic and Paralympic-related initiatives, among other factors, supporting further progress toward a virtuous economic cycle and continued moderate recovery. However, attention must be paid to downside risks associated with developments in China’s financial markets, including excessive debt, and to US policy developments.」
In addition to the previous references to uncertainty in overseas economies and the effects of financial markets, the company specifically identifies downside risks in China’s financial markets and US policy developments. - FY2018-Q3RestatedAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, Japan’s economy remained on a moderate recovery trend as employment and income conditions improved, although some uncertainty remained regarding the outlook, including uncertainty in overseas economies and the effects of financial markets.」
Uncertainty in overseas economies and the effects of financial markets have been reiterated as factors contributing to uncertainty about the outlook for the domestic economy. - FY2018-Q2RestatedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, Japan’s economy remained on a moderate recovery trend as employment and income conditions improved, although some uncertainty remained regarding the outlook, including uncertainty in overseas economies and the effects of financial markets.」
Uncertainty in overseas economies and the effects of financial markets have been reiterated as factors contributing to uncertainty about the outlook for the domestic economy. - FY2018-Q1RestatedAnnual report
「Although some uncertainty remains regarding the outlook, including uncertainty in overseas economies and the effects of financial markets, the economy remains on a moderate recovery trend as employment and income conditions improve.」
Uncertainty in overseas economies and the effects of financial markets have been reiterated, with essentially the same wording as in the previous fiscal year’s report, as factors contributing to uncertainty about the outlook for the domestic economy. - FY2017Reorganisation of overseas economic and financial market risksAnnual report
「Regarding the outlook for Japan’s economy, employment and income conditions are expected to continue improving, and a moderate recovery led by private demand is expected to continue as the government advances its economic measures and takes other steps. However, attention must be paid to the effects of uncertainty in overseas economies and volatility in financial markets.」
The previous expression, “uncertainty in overseas economies,” has been reorganised into wording that explicitly refers to uncertainty in overseas economies and volatility in financial markets. - FY2017-Q3SoftenedAnnual report
「During the nine months ended in the third quarter of the current consolidated fiscal year, Japan’s economy remained on a moderate recovery trend, supported in part by the effects of various policies, as employment and income conditions continued to improve, despite uncertainty in overseas economies.」
The individually identified factors of economic downturns in emerging Asian economies and elsewhere and the UK’s Brexit issue listed in the previous quarter have changed this time to the more general expression “uncertainty in overseas economies.” - FY2017-Q2First statedAnnual report
「During the six months ended in the second quarter of the current consolidated fiscal year, Japan’s economy remained on a moderate recovery trend as employment and income conditions continued to improve, although concern remained over the effects of economic downturns in emerging Asian economies and elsewhere and the UK’s Brexit issue.」
The company has for the first time identified the effects of economic downturns in emerging Asian economies and elsewhere and the UK’s Brexit issue as concerns in the economic environment.