International Economic Uncertainty from China's Economic Slowdown and the UK's Withdrawal from the EU
First written in FY2017-Q1. 9 of 21 entries say "Worsened", first in FY2021-Q1. Latest entry: 2026-08-06.
Daiwa House Industry moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 63 of 75 companies on the "Worse" side.
26 other companies' latest entry also says "Restated".
- 2026-08-06RestatedRevision to earnings forecast
「一方で、海外事業を取り巻く事業環境や中東情勢等の先行き不透明感が残ることから、これらのリスク要因も織り込んだうえで、連結業績予想を修正いたします。」
海外事業環境と中東情勢による国際経済の不確実性を、業績予想に織り込む要因として再確認した。 - FY2026WorsenedAnnual report
「During the consolidated fiscal year, the global economy continued on a path of moderate growth, particularly in major countries, but uncertainty about the outlook persisted due to developments in trade policy and geopolitical risks, including the worsening situation in the Middle East since February 2026.」
Stated that the deterioration of the situation in the Middle East and developments in trade policy had been identified together in relation to uncertainty in the international economy, and that the uncertain outlook had continued. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, the global economy remained uncertain due to stronger US trade policies and persistent geopolitical risks. While major countries saw slower inflation and moves toward monetary easing, the effects of tariff policies spread to trade and investment, and the pace of growth tended to slow.」
Specifically described the effects of tariff policies spreading to trade and investment and the slowing pace of growth in relation to uncertainty in the international economy. - FY2025-H1RestatedAnnual report
「Regarding the outlook for the future socioeconomic environment, the global economy is expected to remain in a situation requiring close monitoring, against the backdrop of monetary policy easing in the US, weakness in China's real estate market, and rising geopolitical risks.」
Continues to identify US monetary policy, China's real estate market, and geopolitical risks as factors contributing to uncertainty in the global economy. - FY2024-Q2WorsenedAnnual report
「However, monetary tightening policies are continuing due to global inflationary pressures, and the situation remains one that requires close monitoring, including the effects of price trends, resource prices, and exchange-rate fluctuations.」
Updated the factors requiring monitoring in relation to uncertainty in the international economy by explicitly identifying global inflationary pressures, continued monetary tightening, price and resource price trends, and exchange-rate fluctuations. - FY2022WorsenedAnnual report
「The business environment became increasingly difficult, with uncertainty about the outlook persisting more than before as the worsening situation in Ukraine increased downside risks to the global economy through higher resource and raw material prices, volatility in the financial and capital markets, supply constraints and other factors.」
For international economic risks, explicitly identified the risk of a downturn in the global economy due to the situation in Ukraine, in addition to the previous factors of infectious diseases, trade issues, and downward revisions to growth forecasts. - FY2022-Q3WorsenedAnnual report
「In December 2021, the Organisation for Economic Co-operation and Development (OECD) noted that the global economic recovery was continuing, while pointing to the emergence of new variants and inflationary pressures in various countries. It revised its forecast for global real economic growth in 2021 downward by 0.1 percentage points from the previous forecast of 5.7%, and also lowered its forecast for Japan's growth by 0.7 percentage points.」
Cited the OECD's downward revisions to its global real economic growth forecast by 0.1 percentage points and its forecast for Japan's growth by 0.7 percentage points against the backdrop of variants and inflationary pressures, highlighting greater uncertainty in the international economy. - FY2022-Q2WorsenedAnnual report
「In September 2021, the Organisation for Economic Co-operation and Development (OECD), taking into account the renewed spread of COVID-19 variants and disruptions in supply chains, revised its forecast for global real economic growth in 2021 downward by 0.1 percentage points from its previous forecast as of May. While expecting a steady recovery in the global economy, it expressed concern about inflation risks.」
Cited the OECD's 0.1-percentage-point downward revision to its global economic growth forecast against the backdrop of the renewed spread of variants, supply chain disruptions, and inflation risks, highlighting greater uncertainty in the international economy. - FY2022-Q1WorsenedAnnual report
「In the global economy, disparities in the pace of recovery have widened due to differences among countries and regions in infection rates and economic measures, and the outlook remains uncertain, including the risk that economic activity restrictions will continue due to the spread of COVID-19 variants.」
Explicitly identified disparities in the global economic recovery and the risk of continued restrictions on economic activity due to the spread of variants, heightening concern about uncertainty in the international economy. - FY2021-Q3WorsenedAnnual report
「The situation overseas is likewise expected to remain difficult to view optimistically, as the World Bank lowered its global economic growth forecast in January 2021.」
Cited the World Bank's downward revision to its global economic growth forecast, highlighting greater concern about uncertainty in the international economy. - FY2021-Q2SoftenedAnnual report
「Looking at the global economy, the situation is also expected to remain difficult to view optimistically, as the International Monetary Fund slightly raised its forecast for global economic growth in 2020 from its June 2020 forecast in October 2020, while still forecasting negative growth.」
Noted that the IMF's global economic growth forecast was slightly raised from its June 2020 forecast, partially easing the outlook for international economic risks, while maintaining its forecast for negative growth. - FY2021-Q1WorsenedAnnual report
「Looking at the global economy, the situation is also expected to remain difficult to view optimistically, as the International Monetary Fund lowered its global economic growth forecast for 2020 in June 2020.」
Cited the International Monetary Fund's downward revision to its global economic growth forecast against the backdrop of the COVID-19 pandemic, highlighting greater uncertainty in the global economy. - FY2020-Q3RestatedAnnual report
「At the same time, concerns remain that growing uncertainty in the global economy, including trade issues involving the US, China, and other countries, and the slowdown in the Chinese economy could adversely affect domestic economic conditions, including exports and production, and the situation is expected to remain difficult to view optimistically.」
Continues to express concern about the impact on domestic economic conditions of trade issues involving the US, China, and other countries, uncertainty in the global economy, and the slowdown in the Chinese economy. - FY2019-Q2ReframedAnnual report
「At the same time, concerns remain that developments in trade issues involving the US, China, and other countries, uncertainty in overseas economies, and a succession of natural disasters could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Focused international economic risks on trade issues involving the US, China, and other countries and uncertainty in overseas economies, while also citing the impact of successive natural disasters on domestic economic conditions. - FY2019-Q1ReframedAnnual report
「At the same time, concerns remain that uncertainty surrounding trade policies in the US, China, and Europe could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Shifted the wording on uncertainty in the international economy from the previous focus on US and European politics, financial markets, and trade policy to a focus on trade policy in the US, China, and Europe. - FY2018-Q3RestatedAnnual report
「At the same time, concerns remain that uncertainty surrounding political developments in the US and Europe and the resulting financial market trends and trade policy could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Continues to express concern about uncertainty in the international economy arising from political developments, financial markets, and trade policy in the US and Europe. - FY2018-Q2RestatedAnnual report
「At the same time, concerns remain that uncertainty surrounding political developments in the US and Europe and the resulting financial market trends and trade policy could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Continues to express concern about uncertainty in the international economy arising from political developments, financial markets, and trade policy in the US and Europe. - FY2018-Q1RestatedAnnual report
「At the same time, concerns remain that uncertainty surrounding political developments in the US and Europe and the resulting financial market trends and trade policy could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Continues to express concern about uncertainty in the international economy arising from political developments, financial markets, and trade policy in the US and Europe. - FY2017-Q3ReframedAnnual report
「At the same time, concerns remain that uncertainty surrounding US political developments and the resulting financial market trends and trade policy could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Shifted the focus to US politics, financial markets, and trade policy, in addition to the previous factor of the slowdown in the Chinese economy, as drivers of uncertainty in the international economy. - FY2017-Q2RestatedAnnual report
「Meanwhile, there are concerns that a rapid appreciation of the yen and the slowdown in the Chinese economy could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Continues to express concern about uncertainty in the international economy due to factors including the slowdown in the Chinese economy. - FY2017-Q1First statedAnnual report
「Meanwhile, there are concerns that heightened uncertainty in the international economy resulting from the slowdown in the Chinese economy and the UK's withdrawal from the EU could adversely affect domestic economic conditions, and the situation is expected to remain difficult to view optimistically.」
Newly described uncertainty in the international economy arising from the slowdown in the Chinese economy and the UK's EU withdrawal issue as an external risk to domestic economic conditions.