Uncertainty over the outlook due to yen appreciation, weak stock markets, slowing overseas economies, and the UK's EU withdrawal issue
First written in FY2017-Q1. 3 of 33 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
25 other companies' latest entry also says "Other".
- FY2026Update to geopolitical and cost-inflation factorsAnnual report
「Although domestic business conditions and the domestic economy gradually recovered following the formation of the Takaichi Cabinet, conditions remained uncertain because crude oil and energy prices surged due to geopolitical risks, including heightened tensions in the Middle East, and because of higher resource and raw material prices, labor and other costs, and further inflation.」
While identifying the recovery in domestic business conditions as a positive factor, it also identifies surging crude oil and energy prices originating from heightened tensions in the Middle East, higher resource and raw material prices, and rising labor costs and consumer prices as new factors clouding the outlook. - FY2026-H1Additional factors: US tariff policy and financial market volatilityAnnual report
「However, conditions remained uncertain amid continuing concerns over weaker personal consumption due to inflation, volatility in financial and capital markets associated with heightened international tensions and US tariff policy, and higher resource and raw material prices, various costs and consumer prices.」
In addition to the existing uncertainty in international affairs and higher resource, raw material and other costs, it identifies volatility in financial and capital markets associated with US tariff policy as a factor clouding the outlook. - FY2025Update on international and financial conditions and higher costsAnnual report
「Amid heightened tension and uncertainty in international and financial conditions, as well as concerns over higher resource and raw material prices, rising production and other costs, and inflation, conditions remained uncertain.」
In addition to the existing risks related to infectious diseases and geopolitics, it identifies tension in international and financial conditions, higher resource and raw material prices, rising production costs and inflation as factors clouding the outlook. - FY2025-H1RestatedAnnual report
「At the same time, concerns remain over the continuing uncertainty in international affairs, rising raw material prices amid global monetary tightening, inflation accompanying the yen's depreciation, and the risk of a slowdown in the Chinese economy, and the outlook therefore remains uncertain.」
It continues to identify uncertainty in international affairs, monetary tightening, yen depreciation and inflation, and the risk of a slowdown in the Chinese economy as factors clouding the outlook. - FY2024Update to monetary-tightening and economic concernsAnnual report
「The outlook remained uncertain due to the impact of global monetary tightening, China's economic slowdown and geopolitical risks such as heightened tensions in the Middle East, which led to higher raw-material and energy prices, as well as inflation resulting from the yen's depreciation.」
Global monetary tightening, China's economic slowdown, heightened tensions in the Middle East, and yen weakness accompanied by higher raw-material and energy prices were cited as factors contributing to uncertainty over the outlook. - FY2024-Q3Update to geopolitical and economic concernsAnnual report
「The outlook remained uncertain due to the prolonged situation in Ukraine, China's economic slowdown and geopolitical risks such as heightened tensions in the Middle East, which led to higher raw-material and energy prices, as well as inflation resulting from the yen's depreciation.」
In addition to the situation in Ukraine and the weaker yen and higher resource prices, China's economic slowdown, heightened tensions in the Middle East, and the resulting increases in raw-material and energy prices and inflation were cited as factors contributing to uncertainty over the outlook. - FY2024-Q2Additional monetary tightening and inflationAnnual report
「The outlook remained uncertain as geopolitical risks continued to keep energy and raw-material prices elevated, while inflation resulting from global monetary tightening also persisted.」
While the transition of COVID-19 to Category V was cited as contributing to the normalization of social and economic activity, geopolitical risks, persistently high energy and raw-material prices and continuing inflation resulting from global monetary tightening were added as factors contributing to uncertainty. - FY2024-Q1Recovery as COVID-19 restrictions ease alongside continued yen weakness and high costsAnnual report
「During the first quarter of the current consolidated fiscal year, social and economic activity entered a gradual recovery trend as COVID-19 was reclassified as a Category V infectious disease, with increased movement of people and stronger inbound demand. However, the outlook remained uncertain as the prolonged Russia-Ukraine situation continued to have an impact, while the yen depreciated rapidly and energy and raw-material prices remained elevated.」
The reclassification of COVID-19 as a Category V infectious disease, increased movement of people and stronger inbound demand were cited as recovery factors, while uncertainty continued due to the Russia-Ukraine situation, the rapid depreciation of the yen and persistently high energy and raw-material prices. - FY2023-Q3Easing COVID-19 measures alongside high resource prices and yen weaknessAnnual report
「During the first nine months of the current consolidated fiscal year, social and economic activity showed signs of recovery as COVID-19 measures were eased, and personal consumption showed a gradual recovery, including the resumption of inbound consumption and the launch of nationwide travel assistance. However, the outlook remained uncertain amid the prolonged Russia-Ukraine situation and surging energy and raw-material prices associated with the sharp depreciation of the yen.」
While the easing of COVID-19 measures, the resumption of inbound consumption and nationwide travel assistance were cited as factors supporting recovery, uncertainty continued due to the Russia-Ukraine situation, the sharp depreciation of the yen and surging energy and raw-material prices. - FY2023-Q2Easing COVID-19 impacts alongside continued resource inflation and yen weaknessAnnual report
「During the first half of the current consolidated fiscal year, social and economic activity showed signs of recovery, including the easing of restrictions on behavior and a recovery in personal consumption, as the impact of COVID-19 gradually began to ease. However, the outlook remained uncertain amid the prolonged Russia-Ukraine situation and surging energy and raw-material prices associated with the sharp depreciation of the yen.」
While the easing impact of COVID-19, relaxed restrictions on behavior and a recovery in personal consumption indicated signs of recovery, uncertainty continued due to the prolonged Russia-Ukraine situation, the sharp depreciation of the yen and surging energy and raw-material prices. - FY2023-Q1Recovery signs alongside a weaker yen and invasion-driven price increasesAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy showed signs of recovery in social and economic activity, including the easing of restrictions on behavior and a recovery in personal consumption, as the number of COVID-19 cases remained low with the progress of vaccinations. However, the outlook remained uncertain amid a sharp depreciation of the yen and surging energy and raw-material prices resulting from Russia's invasion of Ukraine.」
While vaccinations, eased restrictions on behavior and a recovery in personal consumption were cited as positive factors, a sharp depreciation of the yen and surging energy and raw-material prices resulting from Russia's invasion of Ukraine were cited as new factors contributing to uncertainty. - FY2022Addition of geopolitical riskAnnual report
「Although economic activity showed signs of recovery as vaccinations progressed, the outlook remained uncertain amid increasing geopolitical risks, including the renewed spread of infections due to new variants, Russia's invasion of Ukraine in February and surging global prices for raw materials and resources.」
In addition to uncertainty related to COVID-19, Russia's invasion of Ukraine and surging prices for raw materials and resources were newly cited as geopolitical uncertainties. - FY2022-Q3Concerns about new variants and expectations for an economic recoveryAnnual report
「As the number of infections declined markedly with the progress of vaccinations, expectations for the recovery of economic and production activity grew following the lifting of the state of emergency from October onward. However, the outlook remained uncertain amid concerns about the spread of new variants.」
Expectations for a recovery from vaccinations, declining infections and the lifting of the state of emergency were noted alongside concerns about the spread of new variants. - FY2022-Q2The Delta variant outbreak and progress in vaccinations coexistingAnnual report
「During the first half of the current consolidated fiscal year, restrictions on economic activity continued as the declaration of a state of emergency and other measures were extended due to the spread of COVID-19 and the outbreak of the highly transmissible Delta variant. Although economic and production activity showed signs of recovery as vaccinations progressed, the outlook remained uncertain.」
The Delta variant outbreak and extensions of the state of emergency and other measures were added as factors restricting economic activity, while the reopening and recovery of economic and production activity as vaccinations progressed were also noted. - FY2022-Q1Expectations for reopening as vaccinations progressAnnual report
「During the first quarter of the current consolidated fiscal year, restrictions on economic activity continued in Japan due to the spread of COVID-19, including the declaration of a state of emergency and the implementation of priority preventive measures. Although the spread of vaccinations raised hopes for the reopening of economic activity, the outlook remained uncertain.」
While restrictions on economic activity and uncertainty over the outlook continued, hopes for the reopening of economic activity as vaccinations progressed were also noted. - FY2021-Q3WorsenedAnnual report
「During the first nine months of the current consolidated fiscal year, Japan's economy entered a very challenging phase as the spread of COVID-19 substantially restricted corporate and economic activity. Although some recovery was seen, partly due to various government measures, the economy had not yet recovered, and the outlook remained uncertain as consumer sentiment was expected to deteriorate due to the prolonged impact of COVID-19.」
Although government measures led to a partial recovery, the economy had not yet recovered, and the prolonged impact of COVID-19 and deteriorating consumer sentiment were cited as new factors contributing to uncertainty. - FY2021-Q2Recovery measures and continuing uncertaintyAnnual report
「During the first half of the current consolidated fiscal year, Japan's economy entered a very challenging phase as the global spread of COVID-19 substantially restricted corporate and economic activity in Japan. Although some recovery was seen, partly due to government measures such as Go To Travel and Go To Eat, the economy had not yet recovered, and the outlook remained uncertain as personal consumption was affected by a greater tendency to save arising from concerns about the future and rising concerns about downside risks to the economy.」
A partial recovery resulting from various government measures was noted alongside the lack of a full economic recovery, a tendency to save and concerns about downside risks, indicating that uncertainty over the outlook has continued. - FY2021-Q1Addition of COVID-19Annual report
「During the first quarter of the current consolidated fiscal year, Japan's economy entered a very challenging phase against the backdrop of the global spread of COVID-19. The government declared a state of emergency to prevent the spread of the virus, and economic activity was curtailed by measures including requests to refrain from going out and the spread of business closures. Even after the state of emergency was lifted, the outlook for an economic recovery remained unclear, while personal consumption remained uncertain as concerns about the future led to a greater tendency to save and concerns about downside risks to the economy increased.」
In addition to the existing uncertainty arising from overseas conditions and trade friction, COVID-19, the state of emergency, stagnation in economic activity and concerns about an economic downturn were cited as new factors contributing to uncertainty. - FY2020-Q3Updated areas of concernAnnual report
「During the first nine months of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained corporate earnings and improvements in employment and income conditions. However, although personal consumption partially recovered, the outlook remained uncertain due to an economic downturn resulting from the impact of consumer sentiment following the consumption tax increase, a tendency to save arising from concerns about the future, prolonged US-China trade friction, unstable overseas conditions and higher crude oil prices.」
Consumer sentiment following the consumption tax increase, concerns about the future, prolonged US-China trade friction, unstable overseas conditions and higher crude oil prices were cited as factors contributing to uncertainty over the outlook. - FY2020-Q2Updated areas of concernAnnual report
「Although personal consumption partially recovered, the outlook remained uncertain due to concerns about an economic downturn resulting from the consumption tax increase in October, a tendency to save arising from concerns about the future, unstable overseas conditions and prolonged US-China trade friction.」
Concerns about an economic downturn resulting from the consumption tax increase, unstable overseas conditions and prolonged US-China trade friction were cited as factors contributing to uncertainty over the outlook. - FY2020-Q1Updated areas of concernAnnual report
「Although personal consumption partially recovered, the outlook remained uncertain due to a tendency to save arising from concerns about the future, including a consumption tax increase and pension issues, as well as unstable overseas conditions and continuing concerns about US-China trade friction.」
Concerns about the future regarding a consumption tax increase and pension issues, unstable overseas conditions and US-China trade friction were cited as factors contributing to uncertainty over the outlook. - FY2019Updated areas of concernAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain amid rising concerns about the UK's withdrawal from the EU and prolonged trade friction, as well as higher crude oil prices and successive natural disasters, including typhoons and torrential rains from July to September.」
The UK's withdrawal from the EU, prolonged trade friction, higher crude oil prices and natural disasters, including typhoons and torrential rains, were cited as factors contributing to uncertainty over the outlook. - FY2019-Q3RestatedAnnual report
「During the first nine months of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain amid rising concerns about intensifying trade friction, higher crude oil prices and successive natural disasters, including typhoons and torrential rains from July to September.」
Trade friction, higher crude oil prices and natural disasters, including typhoons and torrential rains, continued to be cited as factors contributing to uncertainty over the outlook. - FY2019-Q2Updated areas of concernAnnual report
「During the first half of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain amid rising concerns about intensifying trade friction, higher crude oil prices and successive natural disasters, including typhoons and torrential rains.」
In addition to the existing tendency to save and uncertainty in overseas economies, trade friction, higher crude oil prices and natural disasters, including typhoons and torrential rains, were cited as factors contributing to uncertainty over the outlook. - FY2019-Q1Updated areas of concernAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain due to a tendency to save arising from concerns about the future, including trends in work-style reform and a consumption tax increase, as well as higher crude oil prices.」
While improvements in corporate earnings and employment and income conditions were noted, trends in work-style reform, concerns about the future arising from a consumption tax increase, a tendency to save and higher crude oil prices were cited as factors contributing to uncertainty over the outlook. - FY2018Updated areas of concernAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain amid increased uncertainty in overseas economies, including a tendency to save due to concerns about the future, US policy trends and higher crude oil prices resulting from Middle East policy.」
While improvements in corporate earnings and employment and income conditions were noted, a tendency to save, US policy trends, higher crude oil prices resulting from Middle East policy and uncertainty in overseas economies were cited as concerns. - FY2018-Q3Updated areas of concernAnnual report
「During the first nine months of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain amid increased uncertainty in overseas economies, including a tendency to save due to concerns about the future, US political developments and concerns about a sharp slowdown in China's economy.」
While improvements in corporate earnings and employment and income conditions were noted, a tendency to save, US political developments and concerns about a sharp slowdown in China's economy were cited as factors contributing to uncertainty over the outlook. - FY2018-Q2Updated areas of concernAnnual report
「During the first half of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with sustained strength in corporate earnings and improvements in employment and income conditions against the backdrop of the government's economic policies. However, the outlook remained uncertain amid increased uncertainty in overseas economies, including a tendency to save due to concerns about the future, US political developments, concerns about a sharp slowdown in China's economy and geopolitical risks such as heightened tensions surrounding North Korea.」
While improvements in corporate earnings and employment and income conditions were noted, a tendency to save, US political developments, concerns about a sharp slowdown in China's economy and geopolitical risks, including the situation surrounding North Korea, were cited as factors contributing to uncertainty over the outlook. - FY2018-Q1Updated areas of concernAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, with improvements in corporate earnings and employment and income conditions against the backdrop of the government's economic policies. However, personal consumption continued to be sluggish, and the outlook remained uncertain amid increasing uncertainty in overseas economies, including slowing economies in emerging Asian markets, particularly China, concerns about US policy trends and concerns about the political situation in Europe.」
While improvements in corporate earnings and employment and income conditions were noted, sluggish personal consumption, slowing Asian economies, US policy trends and concerns about the political situation in Europe were updated as factors contributing to uncertainty over the outlook. - FY2017Updated areas of concernAnnual report
「The economy remained uncertain, with personal consumption continuing to be sluggish, concerns about downturns in emerging Asian economies, particularly China, and concerns about policy trends in the US and UK.」
Sluggish personal consumption, downturns in Asian economies and concerns about policy trends in the US and UK were cited as factors contributing to uncertainty over the outlook. - FY2017-Q3Updated areas of concernAnnual report
「During the first nine months of the current consolidated fiscal year, Japan's economy remained uncertain, despite improvements in corporate earnings and employment and income conditions against the backdrop of the government's economic policies. Personal consumption continued to be sluggish, while the stronger yen and weak stock market, downturns in emerging Asian economies and concerns about policy trends under the new US administration also affected the outlook.」
In addition to sluggish personal consumption, the stronger yen, a weak stock market and downturns in emerging Asian economies, concerns about policy trends under the new US administration were cited, updating the factors contributing to uncertainty over the outlook. - FY2017-Q2RestatedAnnual report
「During the first half of the current consolidated fiscal year, Japan's economy remained uncertain, despite improvements in corporate earnings and employment and income conditions against the backdrop of the government's economic policies. Personal consumption continued to be sluggish, while the stronger yen and weak stock market, concerns over downturns in emerging Asian economies and concerns about trends in financial, capital and commodity markets also affected the outlook.」
Uncertainty over the outlook has continued, due to sluggish personal consumption, the stronger yen, a weak stock market, downturns in overseas economies and concerns about financial, capital and commodity markets. - FY2017-Q1First statedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy remained uncertain, despite improvements in corporate earnings and employment conditions against the backdrop of the government's economic policies. Personal consumption remained sluggish, while the stronger yen and weak stock market, along with the impact of slowing economies in emerging overseas markets and the UK's withdrawal from the EU, also weighed on the outlook.」
Sluggish domestic consumption, the stronger yen, a weak stock market, slowing overseas emerging economies and the UK's withdrawal from the EU were disclosed individually for the first time as factors contributing to uncertainty in the business environment.