Political, Regulatory and Foreign Exchange Risks Associated with Overseas Expansion
First written in FY2017. 5 of 11 entries say "Worsened", first in FY2018-Q1. Latest entry: FY2025.
JAC Recruitment moved to the "Worse" side of this theme in 2023, 4 years after the typical company in this theme (2019).
The whole theme swung hardest in 2025: 72 of 118 companies on the "Worse" side.
46 other companies' latest entry also says "Worsened".
- FY2025WorsenedAnnual report
「JOO operates primarily a fee-charging employment placement business and, as of the date of submission of this report, has consolidated subsidiaries in 12 countries, mainly in Asia. Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group.」
The company reports consolidated subsidiaries in 12 countries subject to overseas business risks and continues to disclose political, regulatory, tax and foreign exchange risks in each country. - FY2024WorsenedAnnual report
「JOO operates primarily a fee-charging employment placement business and, as of the date of submission of this report, has consolidated subsidiaries in 11 countries, mainly in Asia. Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group.」
The company reports operations in 11 overseas countries and continues to broadly disclose political and economic, regulatory and tax risks. - FY2023SoftenedAnnual report
「JRI operates primarily a fee-charging employment placement business and, as of the date of submission of this report, has consolidated subsidiaries in 10 countries, mainly in Asia.」
The number of overseas countries and regions disclosed has decreased from 11 to 10, including operations in China and Hong Kong that are being liquidated or withdrawn from, narrowing the scope of the risks. Political, regulatory, tax and foreign exchange risks nevertheless continue. - FY2022WorsenedAnnual report
「JRI operates primarily a fee-charging employment placement business and, as of the date of submission of this report, has consolidated subsidiaries in 11 countries, mainly in Asia. Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group. In addition, the group's earnings will be affected mainly by fluctuations in the exchange rate between the Japanese yen and the currencies of the countries in which the group's companies operate.」
The company now operates overseas in 11 countries and continues to disclose foreign exchange risks involving the currencies of the countries in which it operates, in addition to political, regulatory and tax risks. - FY2021MitigatedAnnual report
「To address these risks, the company has established a framework enabling it to promptly consider and implement reductions in the scale of operations or withdrawals from individual countries from the perspectives of safety and profitability.」
The company has disclosed a response framework for promptly considering and implementing reductions in the scale of operations or withdrawals in each country in response to political, regulatory and foreign exchange risks overseas. - FY2020WorsenedAnnual report
「JRI operates primarily a fee-charging employment placement business and, as of the date of submission of this report, has consolidated subsidiaries in 10 countries, mainly in Asia. Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group. In addition, the group's earnings will be affected mainly by fluctuations in the exchange rate between the Japanese yen and the currencies of the countries in which the group's companies operate.」
The currencies subject to foreign exchange risk have expanded from the Japanese yen and Singapore dollar to the currencies of the countries in which the group operates. Political, regulatory and tax risks in each country also continue. - FY2019RestatedAnnual report
「Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group. In addition, the group's earnings will be affected mainly by fluctuations in the exchange rate between the Japanese yen and the Singapore dollar.」
The company continues to disclose political and economic conditions, regulations, tax systems and foreign exchange risks between the yen and Singapore dollar associated with its overseas business. - FY2018-Q3RestatedAnnual report
「During the current third quarter cumulative consolidated period, new business and other risks arose in connection with the acquisition of all shares of JRA and its conversion into a subsidiary, as described in Note (Business Combinations, etc.) to the Quarterly Consolidated Financial Statements in Section 4, Financial Information, 1, of the First Quarterly Report. JRA operates primarily a fee-charging employment placement business in 10 countries and regions, mainly in Asia. Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group. In addition, the group's earnings will be affected mainly by fluctuations in the exchange rate between the Japanese yen and the Singapore dollar. Because the group's consolidated financial statements are presented in Japanese yen, exchange rate fluctuations will affect the group in the form of translation risk.」
The company continues to disclose political and economic conditions, regulations, tax systems, exchange rate fluctuations between the yen and Singapore dollar, and translation risk related to JRA's operations in 10 Asian countries and regions. - FY2018-Q2RestatedAnnual report
「Because the group's consolidated financial statements are presented in Japanese yen, exchange rate fluctuations will affect the group in the form of translation risk.」
The company continues to disclose risks related to the political and economic conditions, regulations and tax systems associated with JRA's operations in 10 Asian countries and regions, as well as foreign exchange risk between the yen and Singapore dollar, and also explicitly identifies translation risk. - FY2018-Q1WorsenedAnnual report
「During the current first quarter cumulative consolidated period, new business and other risks arose in connection with the acquisition of all shares of JRA and its conversion into a subsidiary, as described in Note (Business Combinations, etc.) to the Quarterly Consolidated Financial Statements in Section 4, Financial Information, 1, of this Quarterly Report. JRA operates primarily a fee-charging employment placement business in 10 countries and regions, mainly in Asia. Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group. In addition, the group's earnings will be affected mainly by fluctuations in the exchange rate between the Japanese yen and the Singapore dollar. Because the group's consolidated financial statements are presented in Japanese yen, exchange rate fluctuations will affect the group in the form of translation risk.」
The company states that the conversion of JRA into a subsidiary has created new risks related to operating businesses in 10 Asian countries and regions, political and economic conditions, various regulations, and exchange rate fluctuations between the yen and Singapore dollar. - FY2017First statedAnnual report
「Going forward, various factors, including political and economic conditions in each country and region and changes in laws and regulations, foreign ownership restrictions and tax systems, may prevent the company from operating as planned and materially affect the performance of the group. In addition, the group's earnings will be affected mainly by fluctuations in the exchange rate between the Japanese yen and the Singapore dollar.」
Following the acquisition of JRA, the company disclosed for the first time the risks related to political and economic conditions, laws and regulations, foreign ownership restrictions, tax systems, and exchange rate fluctuations between the yen and Singapore dollar in its overseas business.