Country risk associated with overseas sales exceeding 80%
First written in FY2018. 3 of 6 entries say "Worsened", first in FY2022. Latest entry: FY2027-H1.
Jgc Holdings moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2026: 6 of 8 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「In the Middle East, where instability has continued since the outbreak of military conflict between the United States and Iran, the Group continues to execute EPC projects while giving top priority to the safety of employees and other personnel stationed locally and responding in line with conditions at each construction site.」
As instability in the Middle East continues, measures prioritising the safety of local expatriate employees and other personnel remain in place. - FY2026MaterialisedAnnual report
「For the EPC (engineering, procurement and construction) projects that JGC Group is currently carrying out in the Middle East, the group has responded by considering every possibility, including evacuation, while giving top priority to ensuring the safety of employees and other personnel stationed locally and tailoring its response to conditions at each construction site.」
The deterioration of the geopolitical situation in the Middle East has occurred in practice, requiring measures including the evacuation of expatriate employees and other personnel. - FY2026-H1WorsenedAnnual report
「However, the outlook for the global economy has become more uncertain due to US tariff policy, tensions between the US and China, and other factors.」
US tariff policy and uncertainty in the global economy arising from tensions between the US and China were newly identified as risks in the overseas business environment. - FY2024-Q3WorsenedAnnual report
「However, in addition to rising global interest rates and inflation and the slowdown of the Chinese economy, heightened geopolitical risks, including the situation in the Middle East, are contributing to continued uncertainty about the outlook.」
The overseas business environment disclosure now explicitly includes heightened geopolitical risks, including the situation in the Middle East, in addition to the existing economic and political factors. - FY2022WorsenedAnnual report
「Energy prices, particularly those of crude oil and natural gas, are expected to continue fluctuating due not only to global economic trends but also to production trends in resource-exporting countries, the energy policies of individual countries, developments in the Russia-Ukraine situation and related economic and financial sanctions.」
The Russia-Ukraine situation, economic sanctions and energy price fluctuations were explicitly added to the existing overseas country risks. - FY2018First statedAnnual report
「Overseas sales account for more than 80% of JGC Group's total sales, exposing it to so-called country risks in the countries where it operates, including economic, political and social risks.」
The disclosure describes a business structure in which overseas sales account for more than 80% of total sales, as well as country risks related to political instability, war, terrorism, economic policy and foreign exchange rates.