Country, Foreign Exchange and Regulatory Risks in Overseas Operations
First written in FY2016. 8 of 14 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2025: 72 of 118 companies on the "Worse" side.
14 other companies' latest entry also says "Other".
- FY2023Specific identification of war, terrorism, and regulatory change risksAnnual report
「Various risks exist, including risks related to international politics, such as political instability, war, and terrorism; language and geographical factors; regulations including legal and tax systems; oversight by authorities including self-regulatory organizations; economic and political instability; differences in business practices; and the risk of intensifying competition with competitors that are competitive in specific countries or regions or globally. There is also a risk that foreign governments may change relevant regulations without prior notice.」
With respect to overseas business risks, it specifically identifies factors including war, terrorism, and unannounced regulatory changes by foreign governments. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, there were no material changes in the occurrence of major risks that management recognizes could materially affect the financial position, operating performance or cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It states that there were no newly emerging risks or material changes concerning country, foreign-exchange, and regulatory risks in overseas operations. - FY2020Expansion of the scope of overseas risks and the risk management frameworkAnnual report
「Various risks exist, including language and geographical factors, regulations including legal and tax systems, oversight by authorities including self-regulatory organizations, economic and political instability, differences in business practices, and the risk of intensifying competition with competitors that are competitive in specific countries or regions or globally.」
With respect to overseas business risks, it specifies language, tax systems, oversight, business practices, and intensifying competition in addition to existing legal, regulatory, political, and foreign-exchange risks, and also describes a centralized monitoring framework overseen by the International Business Division. - FY2020-Q3RestatedAnnual report
「In the construction industry and the air-conditioning industry related to our business, construction demand remained generally firm, as progress on large-scale redevelopment projects, mainly in major metropolitan areas, and a moderate increase in capital investment by nonmanufacturing companies offset some weakness in manufacturing capital investment resulting from growing uncertainty in overseas economies.」
It continues to identify uncertainty in overseas economies and weakness in manufacturing capital investment as business-environment factors. - FY2020-Q1Specific identification of uncertainty in overseas economiesAnnual report
「In the construction industry and the air-conditioning industry related to our business, construction demand remained generally firm, as progress on large-scale redevelopment projects, mainly in major metropolitan areas, and a moderate increase in capital investment by nonmanufacturing companies offset some weakness in manufacturing capital investment resulting from growing uncertainty in overseas economies.」
It specifically identifies uncertainty in overseas economies and weakness in manufacturing capital investment as business-environment factors. At the same time, it states that there were no material changes to the business and other risks. - FY2019-Q3RestatedAnnual report
「There were no newly emerging business or other risks during the cumulative third quarter under review. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It states that there were no newly emerging risks or material changes concerning country, foreign-exchange, and regulatory risks in overseas operations. - FY2019-Q1RestatedAnnual report
「There were no newly emerging business or other risks during the cumulative first quarter under review. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It states that there were no newly emerging risks or material changes concerning country, foreign-exchange, and regulatory risks in overseas operations. - FY2018Addition of India to the covered regionsAnnual report
「In China, Southeast Asia, India, and Latin America, where our group operates, country risks exist, including the possibility that unexpected events such as unforeseen legal regulations or changes, political instability, and market or foreign-exchange fluctuations may affect business performance.」
Following the inclusion of ICLEAN as a consolidated subsidiary, India was explicitly added to the regions covered by overseas business risks. - FY2018-Q3RestatedAnnual report
「There were no newly emerging business or other risks during the cumulative third quarter under review. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It states that there were no newly emerging risks or material changes concerning country, foreign-exchange, and regulatory risks in overseas operations. - FY2018-Q2RestatedAnnual report
「There were no newly emerging business or other risks during the cumulative second quarter under review. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It states that there were no newly emerging risks or material changes concerning country, foreign-exchange, and regulatory risks in overseas operations. - FY2018-Q1RestatedAnnual report
「There were no newly emerging business or other risks during the cumulative first quarter under review. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It states that there were no newly emerging risks or material changes concerning country, foreign-exchange, and regulatory risks in overseas operations. - FY2017-Q3RestatedAnnual report
「There were no newly emerging business or other risks during the cumulative third quarter under review. In addition, there were no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It states that there are no newly emerging business or other risks and no material changes to the risks described for the previous fiscal year. - FY2017-Q2Specific identification of external uncertainty factorsAnnual report
「Regarding the future outlook for the business environment surrounding the company, the domestic economy is expected to continue a moderate recovery trend, despite uncertain factors including growing uncertainty in overseas economies, such as the outlook for the Asian regional economy and the UK's withdrawal from the EU, and the impact of volatility in financial and capital markets.」
It specifies the Asian economy, the UK's withdrawal from the EU, and volatility in financial and capital markets as uncertain factors. At the same time, it explicitly states that there were no newly emerging business or other risks or material changes. - FY2016First statedAnnual report
「In China, Southeast Asia, and Latin America, where our group operates, country risks exist, including the possibility that unexpected events such as unforeseen legal regulations or changes, political instability, and market or foreign-exchange fluctuations may affect business performance.」
It identifies legal and regulatory, political, market, and foreign-exchange fluctuations in China, Southeast Asia, and Latin America as risks.