Downturns in Asian Emerging-Market and Resource-Exporting Economies and the Kumamoto Earthquake
First written in FY2016-Q3. 9 of 28 entries say "Restated". Latest entry: 2026-10-15.
TETSUJIN Holdings moved to the "Worse" side of this theme in 2025, 6 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 7 of 15 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「At the same time, uncertainty remains over the outlook for personal consumption due to rising prices, raising concerns about its impact on consumer sentiment. In addition, the outlook remains uncertain due to changes in the external environment, including fluctuations in energy prices resulting from heightened tensions in the Middle East and U.S. tariff measures.」
In addition to the previously identified concerns about higher prices and consumer sentiment, fluctuations in energy prices due to the situation in the Middle East and U.S. tariff measures have been added as external environmental risks. - FY2025WorsenedAnnual report
「Meanwhile, the outlook remains uncertain as continued price increases and persistently high energy and raw material prices weigh on consumer sentiment, resulting in cautious personal consumption, while the impact of U.S. tariff policy is also a concern.」
In addition to the previously identified increases in prices and raw material and energy costs, U.S. tariff policy has been cited as a new external environmental risk. - FY2025-H1WorsenedAnnual report
「The operating environment has become challenging as business operating costs have tended to rise, including rent increases when renewing tenant leases against the backdrop of economic recovery, higher personnel and recruitment costs amid labor shortages, increased raw material costs, and higher logistics costs in some businesses.」
In addition to the previously identified increases in raw material and energy prices and personnel costs, higher rents when renewing tenant leases, recruitment costs and logistics costs have been specified as factors driving up business operating costs. - FY2024-Q3Addition of higher personnel costs and lifestyle changesAnnual report
「The Group's operations in some businesses have been affected by higher personnel costs, raw material and energy prices, and changes in lifestyles prompted by the COVID-19 pandemic.」
In addition to the previously identified increases in prices and raw material and energy costs, higher personnel costs and lifestyle changes prompted by the COVID-19 pandemic have been specified as external risks to business operations. - FY2024-Q2Addition of the burden of higher prices, interest rates and utility costsAnnual report
「Meanwhile, the outlook remains uncertain due to factors affecting business activity, including rising prices, higher interest rates resulting from the shift in monetary policy, including the lifting of the negative interest rate policy, and the discontinuation of subsidies for electricity and gas charges.」
In addition to the previously identified rise in prices, higher interest rates resulting from the shift in monetary policy and the discontinuation of electricity and gas charge subsidies have been specified as external factors affecting business activity. - FY2023-Q2RestatedAnnual report
「Meanwhile, the Group's business operations have been affected by a difficult economic environment, including soaring raw material prices and utility costs due to the prolonged situation in Ukraine and Russia and the sharp depreciation of the yen, as well as consumers' growing tendency to economize amid rising prices.」
The external environmental risks associated with the situation in Ukraine and Russia, the weak yen, soaring raw material and utility costs, higher prices and consumers' growing tendency to economize continue to be cited. - FY2023-Q1Shift toward an economic recovery without restrictions on activity during the eighth waveAnnual report
「The eighth wave of COVID-19 arrived and the number of infections began to increase, but initiatives such as strengthening the medical care system for COVID-19 and promoting vaccination led to a shift toward policies seeking to prevent the spread of infection while maintaining social and economic activity, and economic recovery efforts without restrictions on activity were promoted despite the continuing impact of COVID-19. However, new concerns have emerged, including soaring raw material prices and utility costs and rising prices due to the prolonged situation in Ukraine and Russia and the sharp depreciation of the yen, creating multiple negative factors for consumer activity and affecting the operation of the Group's businesses.」
It was stated that, while the eighth wave had arrived, policy had shifted toward economic recovery without restrictions on activity. The situation in Ukraine and Russia, the weak yen, and rising raw material prices, utility costs and prices were also identified as continuing external environmental risks. - FY2022WorsenedAnnual report
「Recently, the number of new infections has declined to a certain extent and remained broadly flat, partly due to the effects of several rounds of COVID-19 vaccination, but the eighth wave of infections is a concern as the year-end approaches. In addition, rising prices against the backdrop of the situation in Ukraine and the record depreciation of the yen have raised concerns that people may move away from karaoke, a non-essential service.」
In addition to the previously identified risks from infectious diseases, the situation in Ukraine and Russia, and the weak yen, concerns about the eighth wave and people moving away from karaoke amid higher prices have been highlighted, maintaining and specifying the uncertainty in the external environment. - FY2022-Q3Addition of the weak yen and higher energy pricesAnnual report
「In addition, the situation in Ukraine and Russia has driven up global raw material and energy prices, while the sharp depreciation of the yen has further intensified inflationary pressure in Japan, leaving the outlook for the economy uncertain.」
In addition to the situation in Ukraine and Russia and soaring raw material prices, higher energy prices, the sharp depreciation of the yen and inflationary pressure have been specified as factors contributing to uncertainty in the external environment. - FY2022-Q2Addition of the Ukraine-Russia situation and surging raw material pricesAnnual report
「Global raw material prices have surged due to the impact of the situation involving Ukraine and Russia, resulting in a challenging business environment with an uncertain outlook.」
As an external environmental risk, the global surge in raw material prices attributable to the situation in Ukraine and Russia has been newly specified. - FY2022-Q1Addition of resource price surges and new variants as factors contributing to uncertaintyAnnual report
「The outlook remains uncertain due to concerns including surging resource prices and the emergence of new variants.」
It additionally identifies surging resource prices and the emergence of new variants as factors contributing to uncertainty about the economic outlook. - FY2021-Q3RestatedAnnual report
「The timing of the containment of COVID-19 remains unforeseeable, and the outlook for the economy remains uncertain.」
Although vaccination had begun, the timing of the containment of the disease remained unforeseeable, and uncertainty in the economic and consumer environment continued. - FY2020-Q3WorsenedAnnual report
「The global spread of COVID-19 suppressed economic activity in Japan, including calls for people to refrain from going out, causing consumer activity to cool sharply. The outlook therefore became extremely uncertain.」
It states that, in addition to the previously existing uncertainty about the economic outlook, restrictions on economic activity and a sharp contraction in consumer activity caused by the spread of COVID-19 actually occurred. - FY2020-Q2Addition of COVID-19Annual report
「The outlook has become uncertain due to concerns about the spread of COVID-19, in addition to the impact of the domestic consumption tax increase and uncertainty in the global economy.」
In addition to the previously identified consumption tax increase and global economic uncertainty, it adds concerns about the spread of COVID-19 as a factor contributing to uncertainty about the economic outlook. - FY2020-Q1Addition of the consumption tax increase and global economic uncertaintyAnnual report
「Conditions remained uncertain due to the impact of the domestic consumption tax increase and uncertainty in the global economy.」
It specifically adds the domestic consumption tax increase and global economic uncertainty as factors contributing to uncertainty about the economic outlook. - FY2019-Q2Greater specificity regarding factors clouding the economic outlookAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy continued on a moderate recovery trend, but conditions remained uncertain regarding the economic outlook due to seasonal factors such as the warm winter and the spread of influenza, a soft stock market, the emergence of US-China trade friction, and declining inbound demand.」
It specifies seasonal factors, the stock market, US-China trade friction, and declining inbound demand as factors contributing to uncertainty about the economic outlook. - FY2018Additional External Risk FactorAnnual report
「Although sentiment regarding the economic outlook remains cautious due to recession risks arising from raw material prices, rising labor costs caused by labor shortages, and trade issues, it remains at a high level.」
In addition to the previously identified uncertainty in overseas economies and financial markets, it identifies raw material prices, rising labor costs caused by labor shortages, and trade issues as recession risks. - FY2018-Q3RestatedAnnual report
「Uncertainty continues, including a preference among domestic consumers for lower-priced products due to concerns about the outlook.」
It continues to describe uncertainty surrounding economic and consumer conditions, including domestic consumers' preference for lower-priced products. - FY2018-Q1RestatedAnnual report
「The outlook for the economy remains uncertain due to factors including US policy management and the risk of a downturn in the Chinese economy.」
It continues to describe the risk of downward pressure on the economy from US policy management and a downturn in the Chinese economy. - FY2017RestatedAnnual report
「Risks remain of downward pressure on Japan's domestic economy due to the outlook for the economies of China and other Asian emerging countries, the impact of policy-related uncertainty, and volatility in financial and capital markets.」
It continues to describe the risk of downward pressure on the domestic economy from economic and policy uncertainty in Asian emerging countries and financial market volatility. - FY2017-Q3RestatedAnnual report
「Meanwhile, risks remain of downward pressure on Japan's domestic economy due to developments in and the impact of monetary policy under the new US administration, the outlook for the economies of China and other Asian emerging countries, the impact of policy-related uncertainty, and volatility in financial and capital markets.」
It continues to indicate the risk of downward pressure on the domestic economy from US monetary policy, uncertainty surrounding the economies and policies of Asian emerging countries including China, and financial market volatility. - FY2017-Q2RestatedAnnual report
「Meanwhile, risks remain of downward pressure on Japan's domestic economy from developments in and the impact of monetary policy under the new US administration, the outlook for the economies of China and other Asian emerging countries, the impact of policy-related uncertainty, and volatility in financial and capital markets.」
It continues to indicate the risk of downward pressure on the economy from US monetary policy, uncertainty surrounding the economies and policies of Asian emerging countries including China, and financial market volatility. - FY2017-Q1RestatedAnnual report
「Meanwhile, risks remain of downward pressure on Japan's domestic economy from developments in and the impact of US monetary policy, the outlook for the economies of China and other Asian emerging countries, the impact of policy-related uncertainty, and volatility in financial and capital markets.」
It continues to indicate the risk of downward pressure on the domestic economy from overseas economic conditions, policy uncertainty and financial and capital market volatility. - FY2016WorsenedAnnual report
「Concerns remain about downturns in China and other Asian emerging economies and resource-exporting countries, the UK's withdrawal from the EU, the impact of heightened uncertainty in overseas economies and financial and capital market volatility, and, domestically, the impact of the 2016 Kumamoto Earthquake on the economy.」
In addition to the previously identified downturns in Asian emerging and resource-exporting economies and the Kumamoto Earthquake, it adds the UK's EU withdrawal issue and financial market volatility as risks. - FY2016-Q3First statedAnnual report
「Concerns remain about downturns in China and other Asian emerging economies and resource-exporting countries, as well as the impact of the 2016 Kumamoto Earthquake on the economy. This creates a risk of downward pressure on Japan's economy.」
It explicitly identifies external economic conditions and disasters as risks that could exert downward pressure on the economy.