Uncertainty over the outlook due to a downturn in overseas economies and the UK's departure from the EU
First written in FY2017-Q2. 17 of 27 entries say "Worsened", first in FY2017-Q3. Latest entry: FY2026.
Nitten moved to the "Worse" side of this theme in 2017, 1 year before the typical company in this theme (2018).
The whole theme swung hardest in 2022: 19 of 22 companies on the "Worse" side.
9 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Although Japan’s economy during the fiscal year under review was expected to be supported by an economic recovery driven by improvements in employment and income conditions and the effects of various policies, uncertainty continued regarding the impact of volatility in financial and capital markets, developments in U.S. trade policy, and the situation in the Middle East.」
While indicating expectations for a recovery in the domestic economy, it identifies fluctuations in financial and capital markets, U.S. trade policy and the situation in the Middle East as new sources of uncertainty. - 2026-05-13WorsenedEarnings
「Although Japan’s economy during the fiscal year under review was expected to be supported by an economic recovery driven by improvements in employment and income conditions and the effects of various policies, uncertainty continued regarding the impact of volatility in financial and capital markets, developments in U.S. trade policy, and the situation in the Middle East.」
The Company continues to identify U.S. trade policy and the situation in the Middle East as sources of uncertainty in the overseas economy and international affairs. - FY2026-H1WorsenedAnnual report
「Japan's economy during the current interim consolidated accounting period was recovering gradually as employment and income conditions improved, but the outlook remained uncertain due to concerns about the impact of U.S. trade policy and a decline in personal consumption resulting from continued price increases, among other factors.」
In addition to the existing uncertainty surrounding overseas economies and international affairs, it identifies U.S. trade policy and concerns about declining personal consumption due to continued price increases as new sources of uncertainty. - FY2024-Q3WorsenedAnnual report
「During the first nine months of the current fiscal year, Japan's economy was moving toward normalization of economic activity as inbound demand recovered, but the outlook remained uncertain due to a downturn in overseas economies, the situation in the Middle East and rising prices in Japan, among other factors.」
While economic activity is normalizing, it identifies a downturn in overseas economies, the situation in the Middle East and rising domestic prices as new sources of uncertainty, specifying the risk factors in the external economic environment. - FY2024-Q2WorsenedAnnual report
「Japan's economy during the first six months of the current fiscal year was recovering gradually as employment and income conditions improved, but the outlook remained uncertain due to the impact of global monetary tightening, concerns about the outlook for the Chinese economy, rising prices and other issues.」
While indicating a gradual domestic recovery, it identifies global monetary tightening, concerns about the outlook for the Chinese economy and rising prices as new sources of uncertainty. - FY2024-Q1Normalization following the change in the infectious disease classification coexisting with uncertainty caused by higher resource pricesAnnual report
「During the first three months of the current fiscal year (1 April 2023 to 30 June 2023), Japan's economy was moving toward normalization of economic activity following the change in the legal classification of COVID-19, but the outlook remained uncertain due to soaring resource and raw material prices resulting from the weak yen and the situation in Ukraine, among other factors.」
While indicating that economic activity is normalizing following the change in COVID-19's legal classification, it states that uncertainty about the outlook persists due to soaring resource and raw material prices associated with the weak yen and the situation in Ukraine, among other factors. - FY2023-Q3RestatedAnnual report
「During the first nine months of the current fiscal year, Japan's economy was expected to recover as measures to control the infectious disease were balanced with economic activity under the transition to living with COVID-19. However, the outlook remained uncertain due to soaring raw material and energy prices resulting from the prolonged situation in Ukraine and sharp exchange-rate fluctuations, among other factors.」
While indicating expectations for an economic recovery from the transition to living with COVID-19, it states that uncertainty persists due to the prolonged situation in Ukraine, soaring raw material and energy prices, and sharp exchange-rate fluctuations. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy recovered gradually as it moved into a new phase of living with COVID-19. However, the outlook remained uncertain due to challenges including global inflation and concerns over energy supplies.」
While some easing of the impact of the infectious disease is indicated, surging global prices and uncertainty over energy supplies are identified as new sources of uncertainty. - FY2022WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a very uncertain path as COVID-19 continued to affect it. Although vaccinations and improvement in overseas economies provided support, raw material and energy prices rose due in part to the situation in Ukraine.」
In addition to the existing uncertainty surrounding the pandemic and overseas economies, the company cites rising raw material and energy prices due to the situation in Ukraine and other factors as a new source of instability. - FY2022-Q3Signs of recovery alongside downside risks from new variantsAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, signs of a recovery in economic activity emerged as COVID-19 vaccinations progressed rapidly. However, concerns over downside risks increased as new variants spread, and the economy remained in a difficult and uncertain condition.」
The company describes signs of recovery in economic activity due to vaccinations, while citing downside risks from new variants and stating that a difficult and uncertain economic condition continues. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation due to the spread of COVID-19 worldwide. Although some recovery was seen in personal consumption and exports, the outlook remained uncertain. Overseas economies were affected by COVID-19 more severely than Japan, and no recovery was expected for some time.」
The company states that, while the domestic economy remains difficult and overseas economies have little prospect of recovery due to the pandemic, there has been some recovery in domestic personal consumption and exports. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, restrictions on economic activity continued as emergency declarations and other measures were issued to address COVID-19. Personal consumption also remained weak, and the outlook continued to be uncertain.」
The company continues to cite restrictions on economic activity resulting from emergency declarations and other measures, weak personal consumption, and uncertainty over the outlook. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained in a difficult and uncertain condition amid the prolonged impact of COVID-19. Although there were signs of partial recovery due to the effects of various policies and improvement in overseas economies, personal consumption remained sluggish and corporate earnings declined as the infection spread again.」
While acknowledging some recovery due to the effects of policies and improvement in overseas economies, the company states that a difficult and uncertain economic environment continues because of the resurgence of infections, sluggish personal consumption, and declining corporate earnings. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy remained in a difficult situation due to the spread of COVID-19 worldwide. Although some recovery was seen in personal consumption and exports, the outlook remained uncertain. Overseas economies were affected by COVID-19 more severely than Japan, and no recovery was expected for some time.」
The company states that COVID-19 has kept Japan's economy in a difficult situation, that overseas economies have been affected more severely than Japan, and that recovery is not expected for some time. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy weakened substantially due to the spread of COVID-19. Deteriorating corporate performance and employment conditions, together with concerns over the further spread of the infection, made the economic outlook even more uncertain.」
The company states that, in addition to the existing uncertainty arising from overseas economies and policy developments, the economy weakened substantially due to COVID-19 and corporate performance and employment conditions deteriorated. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy continued to recover gradually amid improving employment and income conditions. However, from March, the economy was substantially depressed by the impact of COVID-19. Concerns remained that the effects of the infection would continue, leaving the outlook uncertain.」
In addition to the existing uncertainty in overseas economies and policy developments, the company describes a substantial economic downturn caused by COVID-19 and continued uncertainty over the outlook. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path against a backdrop of improving employment and income conditions. However, the outlook remained uncertain due to the impact of the consumption tax rate increase and uncertainty in overseas economies, including the Middle East and China.」
Amid continuing uncertainty over the outlook, the company cites uncertainty in overseas economies, particularly in the Middle East and China, as a new unstable factor. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy saw continued improvement in employment and income conditions, a gradual recovery in personal consumption, and improving corporate earnings. However, the consumption tax was increased in October, natural disasters including typhoons continued, and exports remained weak, raising concerns about their impact on the economy. Overseas economies, including the US and euro area, were gradually recovering, but unstable factors such as US-China trade friction and the UK's departure from the EU increased, and the outlook remained uncertain.」
In addition to the consumption tax increase, natural disasters including typhoons, and weak exports, the company cites US-China trade friction and the UK's departure from the EU as unstable factors, stating that uncertainty in the economic environment continues. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy entered a gradual recovery phase, with steady improvement in corporate earnings and employment and income conditions. However, concerns over the impact of US-China trade friction and the UK's departure from the EU on the global economy persisted, and the outlook remained uncertain.」
The company states that uncertainty in overseas economies and international conditions, including the impact of US-China trade friction and the UK's departure from the EU, continues. - FY2019-Q3WorsenedAnnual report
「While economic conditions in the US and Europe were recovering, unstable factors increased, including US-China trade friction, a slowdown in China's economy, and the impact of the UK's departure from the EU, and the outlook remained uncertain.」
In addition to the existing uncertainty in overseas economies and international conditions, the company cites US-China trade friction and the slowdown in China's economy, stating that unstable factors are increasing. - FY2019-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy entered a gradual recovery phase, with continued improvement in corporate earnings and employment and income conditions. However, the outlook remained uncertain due to concerns over trade friction resulting from protectionist policies in the US and elsewhere.」
In addition to the existing uncertainty in overseas economies and international conditions, the company cites concerns over trade friction resulting from protectionist policies in the US and elsewhere. - FY2018-Q3WorsenedAnnual report
「While economic conditions in the US and Europe were recovering, unstable factors increased, including US policy developments and the impact of geopolitical risks in East Asia, and the outlook remained uncertain.」
The company states that unstable factors are increasing, citing US policy developments and geopolitical risks in East Asia. - FY2018-Q2RestatedAnnual report
「While economic conditions in the US and euro area were recovering, unstable factors increased, including the UK's departure from the EU and heightened international tensions, and the outlook remained uncertain.」
The company states that uncertainty in overseas economies and international conditions, including the UK's departure from the EU and heightened international tensions, continues. - FY2018-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year (1 April 2017 to 30 June 2017), Japan's economy entered a gradual recovery phase, with continued improvement in corporate earnings and employment and income conditions. However, the outlook remained uncertain due in part to uncertainty over US policies and rising global geopolitical risks.」
The company states that the economic environment remains uncertain, citing uncertainty over US policies and rising global geopolitical risks. - FY2017RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with improvement in corporate earnings and employment and income conditions. However, the recovery had yet to fully reach personal consumption, while international conditions remained unstable due to factors including the UK's departure from the EU and policy developments under the new US administration. The outlook remained uncertain.」
The company continues to describe uncertainty in overseas economies and international conditions, including the UK's departure from the EU and policy developments under the new US administration. - FY2017-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year (1 April 2016 to 31 December 2016), Japan's economy remained on a gradual recovery path amid continued improvement in employment and income conditions. However, uncertainty in overseas economies increased due to the slowdown in China's economy and policy developments under the new US administration, and the outlook remained uncertain.」
The company states that uncertainty in overseas economies increased due to the slowdown in China's economy and policy developments under the new US administration. - FY2017-Q2First statedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year (1 April 2016 to 30 September 2016), Japan's economy saw continued improvement in employment and income conditions, while personal consumption remained firm. However, the improvement in corporate earnings stalled, and overseas economies, including China and other emerging Asian and resource-producing economies, weakened. Uncertainty increased, including as a result of the UK's decision to leave the EU, and the outlook remained uncertain.」
The company first established a thread covering the economic environment's increasing uncertainty due to stalled improvement in corporate earnings, weakness in overseas economies, and the UK's decision to leave the EU.