Legal, Political and Security Risks in Overseas Operations
First written in FY2016. 1 of 3 entries say "Restated". Latest entry: FY2025.
Shin Nippon Air Technologies moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).
The whole theme swung hardest in 2025: 46 of 93 companies on the "Worse" side.
4 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「Unforeseeable changes in legal and regulatory requirements or tax systems, political instability, and sharp changes in economic conditions or exchange rates may have a material impact on the Group’s financial position, operating results and other aspects of its business.」
The description of overseas business risks has broadened from institution, political and national security risks centered on Asia to risks covering legal and regulatory, tax, political, economic and foreign-exchange changes worldwide. - FY2018RestatedAnnual report
「The Group undertakes equipment construction projects overseas, mainly in Asia, but its performance may be affected by unforeseeable changes in overseas laws, regulations and tax systems, the outbreak of terrorism or war, unfavorable political developments and other factors.」
The risks associated with overseas equipment construction, mainly in Asia, including institutional, tax, political, terrorism and war risks, continue to be described. - FY2016First statedAnnual report
「The Group undertakes equipment construction projects overseas, mainly in Asia, but its performance may be affected by unforeseeable changes in overseas laws, regulations and tax systems, the outbreak of terrorism or war, unfavorable political developments and other factors.」
The risks associated with overseas operations, mainly in Asia, including institutional, tax, political, terrorism and war risks, are described.