Risk of Reduced Customer IT Investment Due to Economic Downturns
First written in FY2016. 17 of 34 entries say "Restated". Latest entry: 2026-08-05.
Cross Cat moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 16 of 36 companies on the "Worse" side.
51 other companies' latest entry also says "Restated".
- 2026-08-05RestatedEarnings
「The outlook for the economy remains uncertain, owing to concerns about an economic downturn caused by geopolitical risks, including US trade policy and the situation in the Middle East, as well as continued price increases.」
The company continues to describe uncertainty about the economic outlook caused by US trade policy, the situation in the Middle East, geopolitical risks and rising prices. - FY2026WorsenedAnnual report
「However, with tensions in the Middle East also escalating toward the end of the period, uncertainty over the economic outlook has increased rapidly.」
It states that, in addition to the existing factors of US trade policy, international conditions and rising prices, uncertainty over the economic outlook increased rapidly due to escalating tensions in the Middle East. - 2026-05-13RestatedEarnings
「The outlook for the economy is expected to remain uncertain, owing to concerns about an economic downturn caused by geopolitical risks, including US trade policy and the situation in the Middle East, as well as continued price increases.」
US trade policy, the situation in the Middle East, geopolitical risks and rising prices continue to be cited as factors contributing to economic uncertainty. - FY2025WorsenedAnnual report
「Although the Japanese economy is expected to remain on a gradual recovery trend domestically, supported by improvements in employment and income conditions, the outlook remains uncertain due to concerns over US trade policy, soaring raw-material and fuel prices amid unstable international conditions, and rising prices resulting from the depreciation of the yen.」
While continuing to identify economic risks related to customer IT investment, it describes US trade policy, soaring raw-material and fuel prices, and rising prices resulting from the depreciation of the yen as factors contributing to uncertainty. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that none of the existing major risks, including an economic downturn and a decline in customers' IT investment, has occurred or undergone a material change. - FY2024-Q2RestatedAnnual report
「During the first 6 months of the fiscal year ending March 2024 (April–September 2023), the Japanese economy saw signs of recovery in personal consumption, reflecting the lowering in May of COVID-19's classification under the Infectious Diseases Act to Category 5, and inbound demand expanded. However, the economic outlook remains uncertain due to soaring raw-material and energy prices amid unstable international conditions and rising prices resulting from the depreciation of the yen.」
While noting factors supporting improvement, including the easing of pandemic restrictions and the expansion of inbound demand, it continues to identify soaring raw-material and energy prices and rising prices resulting from the depreciation of the yen as factors contributing to uncertainty over the outlook. - FY2024-Q1Uncertainty caused by the easing of pandemic restrictions and rising pricesAnnual report
「Although personal consumption showed signs of recovery, reflecting the lowering in May of COVID-19's classification under the Infectious Diseases Act to Category 5, and inbound demand expanded, the economic outlook remains uncertain due to soaring raw-material and energy prices amid unstable international conditions and rising prices resulting from the depreciation of the yen.」
While noting factors supporting improvement, including the reclassification of COVID-19 to Category 5 under the Infectious Diseases Act and the expansion of inbound demand, it continues to identify soaring raw-material and energy prices and rising prices resulting from the depreciation of the yen as new factors contributing to uncertainty. - FY2023-Q3RestatedAnnual report
「During the first 9 months of the fiscal year ending March 2023 (April–December 2022), the Japanese economy showed signs of normalisation in social and economic activity as various restrictions related to COVID-19 were eased. However, the outlook remains uncertain due to soaring raw-material and fuel prices amid unstable international conditions and rising prices resulting from the depreciation of the yen.」
While noting the normalisation of social and economic activity following the easing of restrictions, it continues to describe uncertainty over the economic outlook due to international conditions, soaring raw-material and fuel prices, and rising prices resulting from the depreciation of the yen. - FY2023-Q2RestatedAnnual report
「During the first 6 months of the fiscal year ending March 2023 (April–September 2022), the Japanese economy showed signs of normalisation in social and economic activity as various restrictions related to COVID-19 were eased. However, the outlook remains uncertain due to soaring raw-material and fuel prices amid unstable international conditions and the rapid depreciation of the yen.」
While noting signs of normalisation resulting from the easing of restrictions on activity, it continues to describe uncertainty over the outlook due to international conditions, soaring raw-material and fuel prices, and the rapid depreciation of the yen. - FY2023-Q1WorsenedAnnual report
「During the first 3 months of the fiscal year ending March 2023 (April–June 2022), the Japanese economy showed signs of normalisation in social and economic activity as various restrictions related to COVID-19 were eased. At the same time, it was affected by soaring raw-material prices amid unstable international conditions and the rapid depreciation of the yen. From July onward, the outlook has remained uncertain, with signs of a renewed spread of COVID-19 following the emergence of new variants.」
While noting signs of normalisation resulting from the easing of restrictions on activity, it identifies unstable international conditions, soaring raw-material prices, the rapid depreciation of the yen and signs of a renewed spread of infections caused by new variants, stating that the outlook remains uncertain. - FY2022WorsenedAnnual report
「Although the business environment surrounding the information services industry is expected to remain uncertain due to the impact of the global spread of COVID-19, soaring resource prices and the situation in Ukraine, the pace of digitalisation has accelerated further as a result of the impact of the pandemic on society and the economy. Accordingly, customer demand for IT investment, including DX, is expected to remain high.」
While newly identifying soaring resource prices and the situation in Ukraine, in addition to COVID-19, as factors contributing to uncertainty over the economic outlook, it states that demand for IT investment, particularly DX-related investment, remains high. - FY2022-Q3Economic recovery and uncertainty caused by new variantsAnnual report
「During the first 9 months of the fiscal year ending March 2022 (April–December 2021), the Japanese economy showed signs of recovery as COVID-19 vaccinations progressed and restrictions on activity were gradually eased. However, with infections again spreading due to new variants, the outlook remains uncertain.」
It notes signs of economic recovery resulting from progress in vaccinations and the easing of restrictions on activity, while stating that the outlook remains uncertain due to the renewed spread of infections caused by new variants. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter (April 2021 to September 2021), restrictions on economic activity due to the spread of the novel coronavirus infection continued for an extended period, and conditions remained severe. Although the outlook remained uncertain, signs of an economic recovery were observed, partly due to expectations regarding the effects of widespread vaccination.」
While restrictions on economic activity due to the spread of the novel coronavirus continued for an extended period and conditions remained severe, the company also refers to signs of an economic recovery due to vaccination. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter (April 2021 to June 2021), the Japanese economy showed signs of recovery, partly due to expectations regarding the effects of widespread vaccination. However, the novel coronavirus infection (COVID-19) was again spreading, and uncertainty about the outlook remained.」
The company refers to signs of recovery driven by expectations regarding widespread vaccination, while stating that COVID-19 was again spreading and uncertainty about the outlook continued. - FY2021WorsenedAnnual report
「In addition, if companies curb their investments in information technology depending on the status of containment of the novel coronavirus infection and its impact on the economic environment, this could affect the performance of the Group.」
The company specifically identifies the status of containment of the novel coronavirus infection and its impact on the economic environment as particularly important risks that could affect performance through reduced corporate investment in information technology. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter, the spread of the novel coronavirus infection had subsided after the lifting of the state of emergency in May, but the infection spread again in winter, further increasing uncertainty about the economic outlook.」
The company states that the novel coronavirus infection spread again in winter, further increasing uncertainty about the economic outlook. - FY2021-Q2MaterialisedAnnual report
「During the cumulative second quarter, the Japanese economy deteriorated rapidly and significantly due to the global spread of the novel coronavirus infection (COVID-19).」
The company records the rapid and significant deterioration of the domestic economy due to the novel coronavirus infection. It also states that lower sales to some customers amid the impact of the infection led to lower revenue, indicating that the existing economic conditions and customer IT investment risks materialized in the business environment. - FY2021-Q1WorsenedAnnual report
「In addition, if the novel coronavirus infection (COVID-19) spreads again and the domestic economy deteriorates further, this could have a material impact on the company’s business. The company will continue to closely monitor developments.」
The company explicitly states the possibility of a material impact on its business if the novel coronavirus infection spreads again and the domestic economy deteriorates further. - FY2020MaterialisedAnnual report
「In addition, if uncertainty about the economic outlook increases due to the global spread of the novel coronavirus infection that became evident at the beginning of 2020, and companies curb their investments in information technology, this could affect the performance of the Group.」
In addition to the existing economic conditions and customer IT investment risks, the company specifically describes the global spread of the novel coronavirus infection that became evident at the beginning of 2020 as a factor contributing to uncertainty. - FY2020-Q3Reference to uncertainty arising from trade issues, the situation in the Middle East, and the novel coronavirusAnnual report
「During the cumulative third quarter, the Japanese economy remained on a moderate recovery trend against a backdrop of improved employment and income conditions. However, the outlook remained uncertain due to the impact of uncertainty in the global economy, including prolonged trade issues, heightened tensions in the Middle East, and the emergence of the novel coronavirus.」
While describing a moderate economic recovery trend, the company identifies, in addition to the existing trade issues, heightened tensions in the Middle East and the emergence of the novel coronavirus as factors contributing to uncertainty in the global economy. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, the Japanese economy remained on a moderate recovery trend against a backdrop of improved corporate earnings and employment conditions. However, uncertainty about the outlook increased due to the prolonged trade issues and other factors.」
The company describes a moderate economic recovery trend while noting uncertainty about the outlook due to prolonged trade issues. It states that there were no new or significant changes to the business and other risks. - FY2020-Q1Uncertainty due to prolonged US-China trade issuesAnnual report
「During the cumulative first quarter, the Japanese economy remained on a moderate recovery trend as corporate earnings and employment conditions improved. However, uncertainty about the outlook increased due to the prolonged US-China trade issues and other factors.」
The company describes an economic recovery trend driven by improvements in corporate earnings and employment conditions, while identifying the prolonged US-China trade issues as a factor contributing to uncertainty about the outlook. - FY2019RestatedAnnual report
「Customer IT investment tends to be affected by economic conditions and trends. If the Japanese economy stagnates or deteriorates, customer IT investment may decline, which could affect the performance of the Group.」
The company continues to describe the possibility that economic stagnation or deterioration could reduce customer IT investment and affect performance. - FY2019-Q3Reference to uncertainty arising from US-China trade friction and other factorsAnnual report
「During the cumulative third quarter, the Japanese economy remained on a moderate recovery trend against a backdrop of improved corporate earnings, capital investment, and employment conditions. However, the outlook remained uncertain due to uncertainty in the global economy, including US-China trade friction.」
While describing the economy as being on a moderate recovery trend, the company identifies uncertainty in the global economy, including US-China trade friction, as a factor contributing to an uncertain outlook compared with the previous quarter. It also states in the business and other risks section that there were no new risks or significant changes. - FY2019-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no newly arising or significant changes to existing business and other risks, including the risk of lower customer IT investment due to economic trends. - FY2019-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no newly arising or significant changes to existing business and other risks, including the risk of lower customer IT investment due to an economic downturn. - FY2018RestatedAnnual report
「Customer IT investment tends to be affected by economic conditions and trends. If the Japanese economy stagnates or deteriorates, customer IT investment may decline, which could affect the performance of the Group.」
The company continues to describe the possibility that an economic downturn could reduce customer IT investment and affect performance. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no newly arising or significant changes to existing business and other risks, including the risk of lower customer IT investment due to an economic downturn. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter, the Japanese economy remained on a moderate recovery trend against a backdrop of improved corporate earnings, capital investment, and employment conditions. However, the outlook remained uncertain due to developments in US policy, concerns over a slowdown in the Chinese economy, and geopolitical risks surrounding North Korea.」
The company describes an economy on a recovery trend while noting uncertainty about the outlook due to overseas economic conditions and geopolitical factors. In the business and other risks section, it states that there were no new risks or significant changes. - FY2018-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no newly arising or significant changes to the risk of lower customer IT investment due to an economic downturn. - FY2017RestatedAnnual report
「Customer IT investment tends to be affected by economic conditions and trends. If the Japanese economy stagnates or deteriorates, customer IT investment may decline, which could affect the performance of the Group.」
The company continues to describe the risk that lower customer IT investment resulting from an economic downturn could affect performance. - FY2017-Q3RestatedAnnual report
「During the current third-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no newly arising or significant changes to existing business and other risks, including the risk of lower customer IT investment due to an economic downturn. - FY2017-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no newly arising or significant changes to existing business and other risks, including customer IT investment. - FY2016First statedAnnual report
「Customer IT investment tends to be affected by economic conditions and trends. If the Japanese economy stagnates or deteriorates, customer IT investment may decline, which could affect the performance of the Group.」
The company identifies as a risk the possibility that economic stagnation or deterioration could affect performance through lower customer IT investment.