Concerns over a slowdown in the global economy, including emerging markets
First written in FY2017-Q2. 11 of 17 entries say "Reframed", first in FY2019-Q2. Latest entry: FY2026-H1.
Taisei Oncho moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
58 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「However, the outlook remains uncertain due to unstable international conditions, persistently high resource, energy and raw material prices, and the impact of the weaker yen and rising prices on domestic demand.」
Unstable international conditions, resource, energy and raw material prices, and the impact of the weaker yen and rising prices on domestic demand continue to be cited as factors contributing to an uncertain outlook. - FY2025ReframedAnnual report
「However, the outlook remains uncertain due to the continuing impact on the domestic economy of unstable international conditions, surging resource, energy and raw material prices, the weaker yen and rising prices.」
Uncertainty in the external environment has been reframed in broader terms to include unstable international conditions, resource, energy and raw material prices, the weaker yen and rising prices. - FY2025-H1ReframedAnnual report
「However, the outlook remains uncertain due to the continuing impact on the domestic economy of unstable international conditions, surging resource, energy and raw material prices, the weaker yen and rising prices.」
The discussion has been reframed from specific factors such as the situation in Ukraine and supply chains to broader uncertainty in the external environment, including unstable international conditions, resource and energy prices, the weaker yen and rising prices. - FY2024-Q1ReframedAnnual report
「During the first quarter of the current fiscal year, Japan's economy was moving toward recovery from the stagnation caused by COVID-19. However, the outlook remains uncertain due to surging raw material prices caused by the worsening situation in Ukraine and growing inflationary pressures.」
While indicating a recovery trend from the stagnation caused by COVID-19, the statement also cites the worsening situation in Ukraine, surging raw material prices and inflationary pressures as factors contributing to an uncertain outlook. - FY2023ReframedAnnual report
「During the current fiscal year, Japan's economy was moving toward recovery from the stagnation caused by the impact of COVID-19. However, raw material shortages originating from the situation in Ukraine drove up prices, substantially increasing the burden on companies and households, and the economic recovery remained gradual.」
While indicating a recovery trend from the COVID-19 pandemic, the explanation has changed to state that raw material shortages originating from the situation in Ukraine and higher prices are slowing the recovery. - FY2023-Q3ReframedAnnual report
「During the first nine months of the current fiscal year, Japan's economy began moving toward normalization as the impact of COVID-19 gradually weakened. However, the outlook remains uncertain due to surging resource prices associated with the prolonged situation in Ukraine and supply chain disruptions, as well as volatility in financial and capital markets.」
Regarding uncertainty in overseas economies and the external environment, the statement describes the weakening impact of COVID-19 and progress toward normalization, while also citing the prolonged situation in Ukraine, supply chain disruptions, surging resource prices and volatility in financial and capital markets as additional sources of uncertainty. - FY2023-Q2ReframedAnnual report
「In addition to the renewed increase in infections caused by COVID-19 variants, the outlook remains uncertain due to the combined effects of lockdowns in China, surging resource and raw material prices resulting from the situation in Ukraine and other factors, and the sharp depreciation of the yen.」
Regarding uncertainty in overseas economies, lockdowns in China are again explicitly identified as a specific factor, alongside the situation in Ukraine and surging resource prices. - FY2020-Q3ReframedAnnual report
「Although there are positive developments such as improving employment conditions, the emergence of situations requiring close attention, including heightened tensions in the Middle East and US-China trade friction, as well as concerns about growth such as sluggish domestic demand, is weighing on business sentiment, and cautious views about the outlook are becoming more widespread.」
In addition to the previous concerns about trade friction and weak consumption, heightened tensions in the Middle East, US-China trade friction and sluggish domestic demand are identified as factors weighing on business sentiment. - FY2020-Q2ReframedAnnual report
「While there are positive factors, such as improved employment, growing uncertainty surrounding trade friction and concerns about sluggish consumption following the consumption tax increase are weighing on business sentiment, and cautious views about the outlook are becoming more widespread.」
The wording has changed from general concerns about deterioration in overseas conditions to wording that concerns about uncertainty surrounding trade friction and sluggish consumption following the consumption tax increase are weighing on business sentiment. - FY2020-Q1ReframedAnnual report
「While there are positive factors, such as improved corporate earnings and employment, concerns about the extent to which deteriorating overseas conditions may affect the domestic economy are weighing on business sentiment, and cautious views about the outlook are becoming more widespread.」
The wording has changed from specific factors such as China's economic slowdown and international trade issues to the broader concern that deteriorating overseas conditions could spill over into the domestic economy. - FY2019-Q3ReframedAnnual report
「Although the outlook remains unclear, owing to an economic slowdown in China and international trade issues,」
The wording has changed from a general reference to uncertainty in overseas economies to wording that identifies China's economic slowdown and international trade issues as specific sources of uncertainty. - FY2019-Q2ReframedAnnual report
「Although the outlook remains unclear, owing to international trade issues and uncertainty in overseas economies,」
The concern about external conditions has been stated again, using the broader expression of uncertainty in overseas economies instead of the previously unstated concern about an economic slowdown centered on emerging countries. - FY2018-Q2DroppedAnnual report
「Although uncertainty and a lack of clarity remain, amid concerns about the new US administration's ability to implement its policies and heightened geopolitical risk resulting from North Korea's missile launches,」
The concerns about an economic slowdown in the global economy, including China and emerging countries, which had been explicitly stated through the previous quarter, are not explicitly mentioned in the current quarter's description of the economic environment. - FY2018-Q1RestatedAnnual report
「Although uncertainty and a lack of clarity remain, amid weak domestic personal consumption, political instability in Europe and the US, and economic slowdowns in China and emerging countries,」
The company continues to describe uncertainty and a lack of clarity in the global economy, including economic slowdowns in China and emerging countries. - FY2017RestatedAnnual report
「The situation remained one in which uncertainty and a lack of clarity could not be dispelled.」
The company continues to indicate uncertainty in the economic environment, including the UK's exit from the EU and concerns about protectionism under the new US administration. - FY2017-Q3WorsenedAnnual report
「Although uncertainty and a lack of clarity are increasing, amid sluggish domestic personal consumption and concerns about a shift toward protectionism following the inauguration of the new US administration,」
The description has changed to state that uncertainty and a lack of clarity are increasing in the economic environment, including the global economy. - FY2017-Q2First statedAnnual report
「Concerns over a slowdown in the global economy, including emerging markets」
The company describes concerns about a slowdown in the global economy for the first time as an uncertainty in the economic environment, alongside factors such as the UK's decision to leave the EU.