Uncertainty over the economic outlook due to China's slowdown, the stronger yen and other factors
First written in FY2016. 10 of 22 entries say "Restated". Latest entry: 2026-07-31.
Yondenko 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 2020: 141 of 158 companies on the "Worse" side.
55 other companies' latest entry also says "Restated".
- 2026-07-31RestatedEarnings
「During the cumulative first quarter, Japan's economy continued to show a gradual recovery in personal consumption and employment conditions, and corporate earnings were also on a recovery trend, although the effects of rising prices and disruptions in the situation in the Middle East were also observed.」
The company cites a recovery trend in personal consumption, employment and corporate earnings, while also identifying rising prices and disruptions in the Middle East as factors creating uncertainty. - FY2026MitigatedAnnual report
「During the current consolidated fiscal year, Japan's economy gradually recovered, including in personal consumption and employment conditions, while business sentiment in the corporate sector also showed signs of recovery, reflecting favorable business performance. The Shikoku economy followed broadly the same trend, although the degree varied.」
The company's assessment has shifted from the difficult environment caused by inflation and supply-chain disruptions through the previous period to a view that personal consumption, employment and corporate business sentiment are gradually recovering. - FY2025-H1MitigatedAnnual report
「During the current interim consolidated accounting period, Japan's economy gradually recovered after emerging from its period of stagnation, while business sentiment in the corporate sector also showed signs of recovery, reflecting favorable business performance. The Shikoku economy followed broadly the same trend, although the degree varied.」
The company's assessment of the economic environment has shifted from production stagnating due to inflation and supply-chain disruptions, as described through the previous period, to a gradual recovery after emerging from stagnation. - FY2024-Q3RestatedAnnual report
「During the cumulative period of the third quarter of the current consolidated fiscal year, Japan's economy continued to show gradual signs of recovery, with personal consumption, exports and employment improving, while production continued to lose momentum due to accelerating global inflation and supply-chain disruptions. The situation in the Shikoku region was broadly similar to that nationwide.」
The company acknowledges improvement in personal consumption, exports and employment, while describing an economic environment in which production continues to lose momentum due to global inflation and supply-chain disruptions. - FY2024-Q2RestatedAnnual report
「During the cumulative period of the second quarter of the current consolidated fiscal year, Japan's economy continued to experience stagnation in production due to accelerating global inflation and supply-chain disruptions, while personal consumption and employment improved. The situation in the Shikoku region was broadly similar to that nationwide.」
The company acknowledges improvement in personal consumption and employment, while describing an economic environment in which production continues to lose momentum due to global inflation and supply-chain disruptions. - FY2024-Q1RestatedAnnual report
「During the cumulative period of the first quarter of the current consolidated fiscal year, Japan's economy continued to show gradual signs of recovery as it emerged from the COVID-19 pandemic, with personal consumption and employment improving, while production continued to lose momentum due to global inflation and supply-chain disruptions. The situation in the Shikoku region was broadly similar to that nationwide.」
The company acknowledges the recovery from the COVID-19 pandemic and improvement in personal consumption and employment, while describing an economic environment in which production continues to lose momentum due to global inflation and supply-chain disruptions. - FY2023-Q3RestatedAnnual report
「During the cumulative period of the third quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation, with global inflation and supply-chain disruptions continuing, although personal consumption and exports showed gradual signs of recovery. The situation in the Shikoku region was broadly similar to that nationwide.」
The company states that, while personal consumption and exports are showing signs of recovery, a difficult economic environment continues due to accelerating global inflation and supply-chain disruptions. - FY2023-Q1WorsenedAnnual report
「During the cumulative period of the first quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation, with global inflation and supply-chain disruptions continuing in addition to the effects of the COVID-19 pandemic, although personal consumption and exports showed gradual signs of recovery. The situation in the Shikoku region was broadly similar to that nationwide.」
In addition to the COVID-19 pandemic, the company explicitly identifies accelerating global inflation and supply-chain disruptions as new factors exerting downward pressure on the economy and business environment, with difficult conditions continuing. - FY2022WorsenedAnnual report
「In addition, the worsening situation in Ukraine has created continued risks of further downward pressure on the economy, including higher energy and raw material prices and volatility in financial and capital markets.」
In addition to the novel coronavirus, the company identifies the worsening situation in Ukraine, higher energy and raw material prices, and volatility in financial and capital markets as new factors exerting downward pressure on the economy. - FY2022-Q2Mixed conditions and some weaknessAnnual report
「During the cumulative period of the second quarter of the current consolidated fiscal year, Japan's economy remained mixed, with exports, production and investment showing signs of recovery while some areas, including personal consumption and employment, remained weak amid the continuing impact of the novel coronavirus disease. The situation in the Shikoku region was broadly similar to that nationwide.」
The company describes the economic environment as mixed, with exports, production and investment showing signs of recovery while personal consumption and employment remain weak. - FY2022-Q1Partial recovery alongside continued difficultyAnnual report
「During the cumulative period of the first quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation, with some weakness in personal consumption and employment, although exports and production, which had stagnated due to the impact of the novel coronavirus disease, showed signs of recovery. The situation in the Shikoku region was broadly similar to that nationwide.」
The company states that exports and production are showing signs of recovery, while personal consumption and employment remain weak and the economic environment is still difficult. - FY2021-Q3WorsenedAnnual report
「During the cumulative period of the third quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation due to the resurgence of infections, despite some signs of recovery after production, exports and personal consumption fell sharply due to the spread of the novel coronavirus disease. The situation in the Shikoku region was broadly similar to that nationwide.」
The company states that, while some signs of recovery are evident, the situation remains difficult due to the resurgence of infections, indicating increased uncertainty from the difficult conditions accompanied by partial recovery in the previous quarter. - FY2021-Q2Partial recoveryAnnual report
「During the cumulative period of the second quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation after production, exports and personal consumption fell sharply due to the spread of the novel coronavirus disease, although some areas showed signs of recovery. The situation in the Shikoku region was broadly similar to that nationwide.」
The company also describes some signs of recovery, while production, exports and personal consumption have fallen sharply due to the impact of the novel coronavirus disease. The economic environment is still considered difficult. - FY2021-Q1RestatedAnnual report
「During the cumulative period of the first quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation, with production and exports falling sharply due to the spread of the novel coronavirus disease, although some areas, including personal consumption, showed signs of bottoming out. The situation in the Shikoku region was broadly similar to that nationwide.」
The company states that production and exports continue to decline sharply due to the spread of the novel coronavirus disease, while personal consumption is showing some signs of bottoming out. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a moderate recovery trend, with capital investment and employment continuing to be favorable, although concerns grew over an economic slowdown as stagnation in consumption and production became apparent toward the end of the fiscal year due to the spread of the novel coronavirus infection, in addition to the impact of overseas economies and the consumption tax increase. The situation in the Shikoku region was broadly similar to that nationwide.」
In addition to the previous uncertainty caused by overseas economies and the consumption tax increase, stagnation in consumption and production due to the spread of the novel coronavirus infection became apparent, giving concrete form to concerns over an economic slowdown. - FY2020-Q3WorsenedAnnual report
「During the cumulative period of the third quarter of the current consolidated fiscal year, Japan's economy showed signs of losing momentum in its moderate recovery, as exports and production remained weak due partly to the impact of overseas economies and personal consumption was affected by the backlash from the consumption tax increase, although capital investment and employment remained favorable.」
The company states that, in addition to weakness in exports and production due to the impact of overseas economies, the backlash from the consumption tax increase emerged, resulting in signs of the moderate recovery losing momentum. - FY2020-Q2RestatedAnnual report
「During the cumulative period of the second quarter of the current consolidated fiscal year, Japan's economy continued on a moderate recovery trend, with capital investment remaining at a high level and favorable employment conditions continuing, although some weakness was seen in exports and production due partly to the impact of overseas economies, including concerns over US-China trade friction.」
The company continues to describe uncertainty arising from the impact of overseas economies, including US-China trade friction, and weakness in some areas of exports and production. At the same time, it states that capital investment and employment conditions remain firm. - FY2020-Q1RestatedAnnual report
「During the cumulative period of the first quarter of the current consolidated fiscal year, Japan's economy continued on a moderate recovery trend, with personal consumption and capital investment showing continued signs of recovery and favorable employment conditions continuing, although some weakness was seen in exports and production due partly to the impact of overseas economies, including concerns over US-China trade friction.」
The company specifically describes uncertainty arising from the impact of overseas economies, including concerns over US-China trade friction and weakness in some areas of exports and production. At the same time, it states that personal consumption and capital investment, among other areas, are showing signs of recovery. - FY2019RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy continued on a moderate recovery trend, with personal consumption and capital investment remaining firm and favorable employment conditions continuing, although some weakness was seen in production and exports due partly to the impact of overseas economies.」
The company continues to describe uncertainty in the economic environment, including the impact of overseas economies, rather than specific factors such as the Chinese economy and yen appreciation. - FY2018RestatedAnnual report
「In this way, as the environment surrounding the Group becomes increasingly uncertain and unpredictable, the company seeks to use this as a basis for confronting the challenging business environment ahead」
The company continues to recognize risks with an emphasis on overall uncertainty and unpredictability in the business environment and structural change, rather than specific factors such as the slowdown in the Chinese economy and yen appreciation. - FY2017ReframedAnnual report
「As the environment surrounding the Group becomes increasingly uncertain and unpredictable, the company seeks to use this as a basis for confronting the challenging business environment ahead」
The wording has shifted from specific factors such as the slowdown in the Chinese economy and yen appreciation to a focus on overall uncertainty and unpredictability in the business environment and structural change. - FY2016First statedAnnual report
「The economy has shown signs of some stagnation due to the slowdown in the Chinese economy and yen appreciation, among other factors, and the economic outlook is expected to remain unpredictable.」
The company recognizes uncertainty in the domestic economy against the backdrop of the slowdown in the Chinese economy and yen appreciation.