Downside Risks to Overseas Economies, Including Emerging Asian and Resource-Rich Countries
First written in FY2017-Q1. 14 of 28 entries say "Reframed", first in FY2020-Q1. Latest entry: FY2027-H1.
Artner 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 2022: 125 of 168 companies on the "Worse" side.
23 other companies' latest entry also says "Reframed".
- FY2027-H1ReframedAnnual report
「During the interim consolidated accounting period, Japan's economy was recovering gradually, although uncertainty surrounding the global economy, including the situation in the Middle East, continued.」
The focus of attention has shifted from references to the destabilization of the international situation and US tariff measures to uncertainty surrounding the global economy, including the situation in the Middle East. - FY2026ReframedAnnual report
「Although there are continued downside risks to overseas economic conditions due to increasing instability in international conditions, automakers and semiconductor manufacturing equipment manufacturers, which are strategic priority customers of the Group, are expected to accelerate their development pace through active investment in priority fields under the government's growth strategy.」
The wording links downside risks to overseas economic conditions to increasing instability in international conditions and also mentions investment by automakers and semiconductor manufacturing equipment manufacturers in priority fields. - FY2026-H1ReframedAnnual report
「During the interim accounting period under review, Japan's economy showed signs of uncertainty due to US tariff measures and other factors, but research and development at client companies remained solid.」
The focus of monitoring has become more specific, shifting from downside risks to international conditions and overseas economic conditions generally to economic uncertainty caused by US tariff measures and other factors. - FY2025ReframedAnnual report
「Although there are downside risks to overseas economic conditions due to increasing instability in international conditions, the company expects automakers and semiconductor manufacturing equipment manufacturers, which are its strategic priority customers, to further accelerate their development pace.」
The wording has changed from a focus on China and emerging Asian economies to wording concerning downside risks to overseas economic conditions caused by increasing instability in international conditions. - FY2024-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy recovered moderately as demand expanded in the post-COVID period, although concerns remained about a downturn in overseas economic conditions.」
Reference to downside risks to overseas economies has reappeared in wording that also mentions expanding post-COVID demand and a moderate recovery in the domestic economy. - FY2023ReframedAnnual report
「Although some client companies experienced weaker performance due to COVID-19, the situation in Russia and Ukraine, fluctuations in resource prices and exchange rates, and other factors, there was no material impact on the company's business environment.」
The focus has shifted from the previous reference to downside risks in emerging Asian economies and overseas economies to business-environment risks, including the situation in Russia and Ukraine, resource prices and exchange-rate fluctuations. - FY2023-Q3ReframedAnnual report
「Going forward, it is necessary to remain mindful of the spread of the eighth wave of COVID-19 infections and downside risks to overseas economies.」
The focus of monitoring has shifted from the previously cited situation in Ukraine, higher raw-material prices and supply constraints to the spread of the eighth wave of COVID-19 infections and downside risks to overseas economies. - FY2023-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan's economy faced downside risks from uncertainty caused by the situation in Ukraine, higher raw-material prices and supply-side constraints, but signs of recovery from the severe conditions caused by COVID-19 were expected.」
The focus has shifted from the previous reference to downside risks to economic conditions in emerging Asian economies and resource-exporting countries to downside risks caused by the situation in Ukraine, higher raw-material prices and supply-side constraints. - FY2020DroppedAnnual report
「During the fiscal year under review, Japan's economy recovered moderately, although some weakness was evident.」
The current full-year description of the economic environment contains no reference to the previous monitoring of downside risks to overseas economies or international conditions. - FY2020-Q3ReframedAnnual report
「Although moderate growth is expected to continue going forward, it is necessary to monitor unstable factors in international conditions, including US-China trade friction, Japan-South Korea relations and the outlook for the UK's withdrawal from the EU.」
In addition to US-China trade friction and Japan-South Korea relations, the outlook for the UK's withdrawal from the EU has been explicitly added to the wording concerning unstable factors in international conditions. - FY2020-Q2ReframedAnnual report
「Although moderate growth is expected to continue going forward, it is necessary to monitor unstable factors in international conditions, including US-China trade friction and Japan-South Korea relations.」
The wording has changed from monitoring downside risks to overseas economies and market conditions to monitoring unstable factors in international conditions, including US-China trade friction and Japan-South Korea relations. - FY2020-Q1ReframedAnnual report
「Although moderate growth is expected to continue going forward, it is necessary to monitor market conditions, including unstable factors such as trade friction and the outlook for China's economy.」
The wording has changed from the previous reference to downside risks to overseas economies to wording calling for close monitoring of market conditions overall, including unstable factors such as trade friction and the outlook for China's economy. - FY2019DroppedAnnual report
「During the fiscal year under review, Japan's economy continued to recover moderately, supported by a trend toward increased capital investment and improvements in employment and income conditions.」
The full-year disclosure no longer mentions downside risks to economic conditions in China and other emerging Asian economies. - FY2019-Q3RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor developments in US trade policy and downside risks to economic conditions in emerging Asian economies, led by China.」
It identifies developments in US trade policy and downside risks to economic conditions in emerging Asian economies, led by China, as issues requiring continued close monitoring. - FY2019-Q2RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor developments in US trade policy and downside risks to economic conditions in emerging Asian economies, led by China.」
It identifies developments in US trade policy and downside risks to economic conditions in emerging Asian economies, led by China, as issues requiring continued close monitoring. - FY2019-Q1RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor developments in US trade policy and downside risks to economic conditions in emerging Asian economies, led by China.」
It states that downside risks to economic conditions in emerging Asian economies, led by China, continue to require close monitoring. - FY2018-Q3RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor risks including uncertainty surrounding US monetary, foreign-exchange and trade policies, uncertainty associated with the UK's withdrawal from the EU, downside risks to overseas economies, such as emerging Asian economies, led by China, and domestic political conditions.」
It states that downside risks to overseas economies, including emerging Asian economies led by China, continue to require close monitoring. - FY2018-Q2RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor risks including uncertainty surrounding US monetary, foreign-exchange and trade policies, uncertainty associated with the UK's withdrawal from the EU, downside risks to overseas economies, such as emerging Asian economies, led by China, and domestic political conditions.」
It states that downside risks to overseas economies, including emerging Asian economies led by China, continue to require close monitoring. - FY2018-Q1RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor risks including uncertainty surrounding US monetary, foreign-exchange and trade policies, uncertainty associated with the UK's withdrawal from the EU, and downside risks to overseas economies, such as emerging Asian economies, led by China.」
It states that downside risks to overseas economies, including emerging Asian economies led by China, continue to require close monitoring. - FY2017RestatedAnnual report
「Although recovery in Japan's economy is expected to continue going forward, it is necessary to closely monitor risks including uncertainty surrounding the new US administration's monetary and foreign-exchange policies, uncertainty over trade policy concerning automobile trade, uncertainty surrounding the UK's withdrawal from the EU, and downside risks to overseas economies, such as emerging Asian economies, led by China.」
The company continues to monitor downside risks to overseas economies, including emerging Asian economies. The annual disclosure also mentions uncertainty surrounding the new US administration and automobile trade policy. - FY2017-Q3SoftenedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor risks including uncertainty surrounding the UK's withdrawal from the EU and downside risks to overseas economies, such as emerging Asian economies, led by China.」
Downside risks to overseas economies continue to be monitored, but the reference to resource-exporting countries that had been explicit through the previous period has been removed, narrowing the scope of the risks described. - FY2017-Q2RestatedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor risks including uncertainty surrounding the UK's withdrawal from the EU and downside risks to overseas economies, such as emerging Asian economies, led by China, and resource-exporting countries.」
It states that downside risks to overseas economies, including emerging Asian economies and resource-exporting countries, continue to require close monitoring. - FY2017-Q1First statedAnnual report
「Although recovery is expected to continue going forward, it is necessary to closely monitor risks including downside risks to overseas economies, such as emerging Asian economies, led by China, and resource-exporting countries.」
Alongside the outlook for a recovery in the domestic economy, it identifies downside risks to overseas economies as an issue requiring close monitoring.