Uncertainty over the outlook for economic and financial conditions
First written in FY2017-Q1. 18 of 34 entries say "Restated". Latest entry: 2026-07-17.
Gendai Agency moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
58 other companies' latest entry also says "Restated".
- 2026-07-17RestatedEarnings
「The outlook for the economy remains uncertain due to concerns about the effects of continuing inflation and labor shortages, as well as energy issues arising from the situation in the Middle East and instability in Japan-China relations.」
While maintaining the previous description of an economic recovery, the Company again cites inflation, labor shortages, the situation in the Middle East, and Japan-China relations as sources of uncertainty. - FY2026WorsenedAnnual report
「During the fiscal year, Japan's economy showed signs of a moderate recovery against a backdrop of improving employment and income conditions. However, the economic outlook remained uncertain due in part to concerns over the impact of continued price increases, labor shortages, energy issues arising from the situation in the Middle East, and the destabilization of Japan-China relations.」
While indicating an economic recovery, the disclosure identifies labor shortages, energy issues arising from the situation in the Middle East, and the destabilization of Japan-China relations as new sources of uncertainty, in addition to previous concerns over price increases and tariff policies. - 2026-04-17ReframedRevision of earnings forecasts
「The outlook for the economy remains uncertain due to concerns about the effects of continuing inflation and labor shortages, as well as energy issues arising from the situation in the Middle East and instability in Japan-China relations.」
The Company continues to describe the economic outlook as uncertain, citing inflation and labor shortages, as well as energy issues arising from the situation in the Middle East and instability in Japan-China relations as factors of concern. - FY2025WorsenedAnnual report
「During the fiscal year, Japan's economy showed signs of a moderate recovery due to improvements in employment and income conditions and the effects of various policies. However, the economic outlook remained uncertain due in part to concerns over continued price increases and the impact of US tariff policies.」
While indicating a recovery supported by improvements in employment and income conditions, the disclosure newly identifies concerns over the impact of US tariff policies, in addition to continued price increases, and describes uncertainty over the outlook. - FY2025-H1RestatedAnnual report
「During the six-month period ended this interim period, Japan's economy showed signs of a moderate recovery due to improvements in employment and income conditions and the effects of various policies. However, the economic outlook remained uncertain due in part to concerns over continued price increases and a review of monetary policy.」
While referring to an economic recovery supported by improvements in employment and income conditions, the disclosure continues to state that the outlook is uncertain due to concerns over rising prices and a review of monetary policy. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended this third quarter, the impact of COVID-19 was subsiding and signs of a recovery were observed in the Japanese economy. However, the outlook remained uncertain due in part to rising consumer prices resulting from surging energy and raw material prices.」
While indicating that the impact of COVID-19 is subsiding and the economy is recovering, the disclosure continues to cite uncertainty over the outlook due to surging energy and raw material prices and rising prices. - FY2024-Q2RestatedAnnual report
「During the six-month period ended this second quarter, the impact of COVID-19 was subsiding and signs of a recovery were observed in the Japanese economy. However, the outlook remained uncertain due in part to rising consumer prices resulting from surging energy and raw material prices.」
While referring to the subsiding impact of COVID-19 and the economic recovery, the disclosure continues to cite uncertainty over the outlook due to surging energy and raw material prices and rising prices. - FY2024-Q1SoftenedAnnual report
「During the three-month period ended this first quarter, the impact of COVID-19 was subsiding and signs of a recovery were observed in the Japanese economy. However, the outlook remained uncertain due in part to rising consumer prices resulting from surging energy and raw material prices.」
The disclosure states that the impact of COVID-19 is subsiding and the economy is showing signs of a recovery, while rising prices due to surging energy and raw material prices and uncertainty over the outlook remain. - FY2023RestatedAnnual report
「During the fiscal year, the Japanese economy remained uncertain despite the easing of COVID-19-related restrictions on activities, due in part to rising consumer prices resulting from sharp exchange-rate fluctuations and the surge in global raw material prices.」
While acknowledging the easing of restrictions on activities, the disclosure continues to cite uncertainty in the economic environment due to exchange-rate fluctuations, surging raw material prices, and rising prices. - FY2023-Q2RestatedAnnual report
「During the six-month period ended this second quarter, the Japanese economy remained in a difficult situation despite the easing of the adverse impact of COVID-19, due to factors including the rapid depreciation of the yen and the surge in global raw material prices.」
While the adverse impact of COVID-19 has eased, the disclosure continues to state that difficult economic conditions will persist due to the rapid depreciation of the yen and the surge in global raw material prices. - FY2023-Q1WorsenedAnnual report
「During the three-month period ended this first quarter, the Japanese economy remained in a difficult situation despite the easing of the adverse impact of COVID-19, due to factors including the rapid depreciation of the yen and the surge in global raw material prices.」
While the adverse impact of COVID-19 has eased, the disclosure identifies the rapid depreciation of the yen and the surge in global raw material prices as new adverse factors in the economic environment and states that difficult conditions will continue. - FY2022SoftenedAnnual report
「Regarding the operating environment for the next fiscal year, we expect measures to restrict the movement of people, which accompanied the rapid spread of COVID-19 and had a significant impact on customer-attraction activities at the facilities that are clients of our group since before the current fiscal year, to continue to be eased. We also expect advertising demand, which declined sharply during this period, to recover gradually.」
Although the effects of COVID-19-related restrictions on the movement of people and the sharp decline in advertising demand remain, the assumptions for the next fiscal year are that restrictions on the movement of people will be eased and advertising demand will recover gradually. - FY2022-Q3SoftenedAnnual report
「During the nine-month period ended this third quarter, the Japanese economy remained in a difficult situation as the spread of COVID-19 continued unabated from the beginning of the fiscal year, significantly restricting personal consumption and economic activity. However, following the lifting of the state of emergency at the end of September, the number of infections fell sharply and the economy was on a moderate recovery path.」
While difficult conditions caused by the spread of COVID-19 continued, the disclosure states that the economy was on a moderate recovery path following the lifting of the state of emergency at the end of September and the sharp decline in infections. - FY2022-Q2RestatedAnnual report
「During the six-month period ended this second quarter, the Japanese economy remained in a difficult situation as the spread of COVID-19 continued unabated, significantly restricting personal consumption and economic activity.」
The disclosure continues to cite the spread of COVID-19, restrictions on personal consumption and economic activity, and difficult economic conditions. Although the impacts of the restrictions have not been quantified, they have occurred in practice. There is no substantive change on a broad reading, and no explicit quantification of risk. - FY2022-Q1RestatedAnnual report
「During the three-month period ended this first quarter, the spread of COVID-19, which began in the previous fiscal year, remained unabated. Economic activity and personal consumption were significantly restricted, and difficult conditions continued, leaving the outlook uncertain.」
The disclosure continues to cite the spread of COVID-19, restrictions on personal consumption and economic activity, and uncertainty over the outlook. - FY2021RestatedAnnual report
「During the fiscal year, the Japanese economy showed temporary signs of a recovery due to measures to prevent the spread of COVID-19 and other factors. However, the recent resurgence of infections has intensified, and the outlook remains extremely uncertain.」
The disclosure continues to state that the economic outlook is extremely uncertain due to the resurgence of infections. - FY2021-Q3WorsenedAnnual report
「During the nine-month period ended this third quarter, the Japanese economy showed temporary signs of a recovery due to measures to prevent the spread of COVID-19 and other factors. However, the recent resurgence of infections has intensified, and the outlook remains extremely uncertain.」
While referring to a temporary recovery, the disclosure states that the outlook remains extremely uncertain as the resurgence of infections intensifies. - FY2021-Q2SoftenedAnnual report
「During the six-month period ended this second quarter, the Japanese economy remained in a difficult situation due to the impact of COVID-19, although signs of a recent recovery were also observed.」
While stating that difficult conditions continued due to COVID-19, the disclosure also notes signs of a recovery. - FY2021-Q1WorsenedAnnual report
「During the three-month period ended this first quarter, the Japanese economy was in an extremely uncertain state due to stagnation in economic activity and sluggish personal consumption resulting from the spread of COVID-19.」
The disclosure states that the spread of COVID-19 caused stagnation in economic activity and sluggish personal consumption, leaving the economic outlook "extremely uncertain." - FY2020WorsenedAnnual report
「During the fiscal year, the Japanese economy saw signs of a moderate recovery in personal consumption as employment and income conditions improved. However, following the consumption tax increase implemented in October 2019, the economy continued to lack strength. In addition, the impact of developments in US-China trade issues on the global economy and the global spread of the novel coronavirus contributed to an extremely uncertain environment.」
The disclosure describes an extremely uncertain environment due to the economy's lack of strength following the consumption tax increase, as well as US-China trade issues and the global spread of the novel coronavirus. - FY2020-Q3RestatedAnnual report
「During the nine-month period ended this third quarter, the Japanese economy continued on a moderate recovery path as employment and income conditions improved and personal consumption showed signs of a moderate recovery. However, the economy remains highly uncertain due to uncertainty in overseas economies, including the impact of trade issues on the global economy and the outlook for the Chinese economy, as well as the psychological impact of the consumption tax rate increase.」
While referring to a moderate recovery trend supported by improvements in employment and income conditions and personal consumption, the disclosure continues to cite uncertainty due to trade issues, the Chinese economy, and the consumption tax rate increase. - FY2020-Q2RestatedAnnual report
「During the six-month period ended this second quarter, the Japanese economy continued on a moderate recovery path as employment and income conditions improved and personal consumption showed signs of a moderate recovery. However, the economy remains highly uncertain due to uncertainty in overseas economies, including the impact of trade issues on the global economy and the outlook for the Chinese economy, as well as the psychological impact of the consumption tax rate increase.」
While referring to a recovery trend supported by improvements in employment and income conditions and personal consumption, the disclosure continues to cite uncertainty due to trade issues, the Chinese economy, and the consumption tax rate increase. - FY2020-Q1WorsenedAnnual report
「However, the economy remains highly uncertain due to uncertainty in overseas economies, including the impact of trade issues on the global economy and the outlook for the Chinese economy, as well as the psychological impact of the consumption tax rate increase.」
While indicating a moderate recovery trend, the disclosure identifies new uncertainties, namely trade issues, the outlook for the Chinese economy, and the psychological impact of the consumption tax rate increase, and describes continued uncertainty over economic conditions. - FY2019-Q3RestatedAnnual report
「During the nine-month period ended this third quarter, the Japanese economy was affected by natural disasters, including the torrential rains in western Japan. However, exports and capital investment remained firm amid a moderate recovery in overseas economies, and corporate earnings remained at record-high levels. In addition, personal consumption showed signs of a moderate recovery as employment and income conditions improved, and the economy as a whole continued on a moderate recovery path.」
While referring to the impact of natural disasters, the disclosure describes improvements in overseas economies, exports, capital investment, corporate earnings, employment and income, and personal consumption, as well as the continuation of a moderate economic recovery. - FY2019-Q2RestatedAnnual report
「During the six-month period ended this second quarter, the Japanese economy was affected by natural disasters, including the torrential rains in western Japan. However, exports and capital investment remained firm amid a moderate recovery in overseas economies, and corporate earnings remained at record-high levels. In addition, personal consumption showed signs of a moderate recovery as employment and income conditions improved, and the economy as a whole continued on a moderate recovery path.」
While referring to the impact of natural disasters, the disclosure describes improvements in overseas economies, exports, capital investment, corporate earnings, employment and income, and personal consumption, as well as the continuation of a moderate economic recovery. - FY2019-Q1RestatedAnnual report
「During the three-month period ended this first quarter, the Japanese economy saw exports and capital investment recover amid a moderate recovery in overseas economies, and corporate earnings reached a record high. In addition, personal consumption showed signs of a moderate recovery as employment and income conditions improved, and the economy as a whole continued on a moderate recovery path.」
The disclosure describes improvements in overseas economies, exports, capital investment, corporate earnings, employment and income, and personal consumption, as well as the continuation of a moderate economic recovery. - FY2018SoftenedAnnual report
「During the fiscal year, the Japanese economy saw exports and capital investment recover amid a moderate recovery in overseas economies, and corporate earnings reached a record high. In addition, personal consumption showed signs of a moderate recovery as employment and income conditions improved, and the economy as a whole continued on a moderate recovery path.」
Improvements in overseas economies, exports, capital investment, corporate earnings, employment and income, and personal consumption are cited, and the economy is described as being on a moderate recovery path. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended this third quarter, the Japanese economy continued on a moderate recovery path, with employment conditions and income improving.」
The disclosure describes continued improvements in employment conditions and income and a continued moderate economic recovery, with no substantive change from the previous quarter. - FY2018-Q2RestatedAnnual report
「During the six-month period ended this second quarter, the Japanese economy continued on a moderate recovery path, with employment conditions and income improving.」
The disclosure describes continued improvements in employment conditions and income and a continued moderate economic recovery, with no substantive change from the previous quarter. - FY2018-Q1SoftenedAnnual report
「During the three-month period ended this first quarter, the Japanese economy continued on a generally moderate recovery path, with signs of increased capital investment and a recovery in personal consumption.」
The disclosure describes a moderate economic recovery accompanied by increased capital investment and a recovery in personal consumption, indicating that concerns over economic conditions have eased somewhat compared with the previous fiscal year. - FY2017RestatedAnnual report
「During the fiscal year, the Japanese economy continued on a moderate recovery path. Although exports and capital investment remained sluggish, signs of a recovery in personal consumption were also observed.」
The disclosure describes a recovery in personal consumption and a moderate economic recovery while noting the continued sluggishness of exports and capital investment, with no substantive change from the previous quarter. - FY2017-Q3SoftenedAnnual report
「During the nine-month period ended this third quarter, the Japanese economy continued on a moderate recovery path. Although exports and capital investment remained sluggish, signs of a recovery in personal consumption were also observed.」
Rather than the previous uncertainty over the outlook caused by the stock market decline and the appreciation of the yen, the disclosure describes a moderate economic recovery and a recovery in personal consumption, while noting the continued sluggishness of exports and capital investment. - FY2017-Q2RestatedAnnual report
「Against a backdrop of monetary easing and other factors, the economy had been on a moderate recovery path, supported by improvements in corporate earnings and employment conditions. However, the outlook for corporate earnings and personal consumption has become increasingly uncertain due to slower growth in emerging-market economies, the stock market decline since the beginning of the year, and the continued appreciation of the yen.」
While referring to the recovery trend supported by monetary easing, the disclosure continues to cite uncertainty over the outlook due to slower growth in emerging-market economies, the stock market decline, and the appreciation of the yen. - FY2017-Q1First statedAnnual report
「The outlook for corporate earnings and personal consumption has become increasingly uncertain due to slower growth in emerging-market economies, the stock market decline since the beginning of the year, and the continued appreciation of the yen.」
The slowdown in emerging-market economies, the stock market decline, and the continued appreciation of the yen are cited as external environmental concerns.