Uncertainty in the Global Economy Due to the Economic Downturn in China and Elsewhere and the UK's Exit from the EU
First written in FY2017-Q2. 12 of 23 entries say "Restated". Latest entry: 2026-06-04.
Human 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 2022: 140 of 172 companies on the "Worse" side.
28 other companies' latest entry also says "Reframed".
- FY2026-H1WorsenedAnnual report
「The outlook remains uncertain due to concerns about a decline in personal consumption resulting from continued price increases and the impact of US trade policy on the global economy.」
In addition to the previously identified geopolitical risks and foreign exchange and price increases, the decline in personal consumption and the impact of US trade policy have been identified as new factors contributing to uncertainty. - FY2025RestatedAnnual report
「The outlook remains uncertain due to factors including higher prices resulting from unstable foreign exchange movements and rising geopolitical risks, as well as the future direction of US policy.」
Foreign exchange movements, geopolitical risks, rising prices and US policy continue to be identified as factors contributing to uncertainty in the economic environment. - FY2025-H1ReframedAnnual report
「The outlook remains uncertain due to factors including unstable foreign exchange movements and higher prices resulting from surging raw material and energy prices.」
In addition to the previously identified international situation and depreciation of the yen, unstable foreign exchange movements, surging raw material and energy prices, and rising prices have been identified as factors contributing to uncertainty in the economic environment. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended [this] third quarter, the Japanese economy entered a gradual recovery phase as economic and social activity normalized following the change in the legal classification of COVID-19 to a Class 5 infectious disease in May 2023, but the impact on economic activity of heightened international tensions, price increases accompanying higher raw material prices and the ongoing depreciation of the yen has continued, and the outlook remains uncertain.」
The recovery trend resulting from the normalization of economic and social activity and the uncertain outlook resulting from international tensions, rising prices and the depreciation of the yen continue to be noted. - FY2024-Q2RestatedAnnual report
「During the six-month period ended [this] second quarter, the Japanese economy entered a gradual recovery phase as economic and social activity normalized following the change in the legal classification of COVID-19 to a Class 5 infectious disease, but the impact on economic activity of heightened international tensions, price increases accompanying higher raw material prices and the ongoing depreciation of the yen has continued, and the outlook remains uncertain.」
The recovery trend resulting from the normalization of economic and social activity and the uncertain outlook resulting from international tensions, rising prices and the depreciation of the yen continue to be noted. - FY2024-Q1ReframedAnnual report
「During the three-month period ended [this] first quarter, the Japanese economy entered a gradual recovery phase as economic and social activity normalized following the change in the legal classification of COVID-19 to a Class 5 infectious disease, but the impact on economic activity of heightened international tensions, price increases accompanying higher raw material prices and the ongoing depreciation of the yen has continued, and the outlook remains uncertain.」
The change in the legal classification of COVID-19 to a Class 5 infectious disease and the normalization of economic and social activity are noted, while international tensions, rising prices and the depreciation of the yen continue to be identified as factors contributing to uncertainty. - FY2023-Q3RestatedAnnual report
「During the nine-month period ended [this] third quarter, the Japanese economy was expected to recover as restrictions on social activity were eased, but the outlook remained uncertain due in part to the impact on economic activity of the increase in COVID-19 cases resulting from the prolonged pandemic, heightened international tensions, rising raw material prices and the ongoing depreciation of the yen.」
Alongside expectations for the normalization of social activity, the uncertainty resulting from the prolonged pandemic, international tensions, raw material prices and the depreciation of the yen has been reaffirmed. - FY2023-Q2WorsenedAnnual report
「During the six-month period ended [this] second quarter, the Japanese economy was expected to recover as restrictions on social activity were eased, but the outlook remained uncertain due in part to the impact on economic activity of the increase in COVID-19 cases during the seventh wave, the prolonged situation in Ukraine, rising raw material prices and the ongoing depreciation of the yen.」
In addition to the previously identified situation in Ukraine and rising raw material prices, the increase in cases during the seventh wave and the ongoing depreciation of the yen have been identified as factors contributing to uncertainty in economic activity. - FY2023-Q1WorsenedAnnual report
「The Japanese economy is expected to recover as economic and social activity normalizes with the spread of measures to combat COVID-19, including vaccination, but the outlook remains uncertain due in part to the impact on economic activity of the prolonged situation in Ukraine and rising raw material prices.」
In addition to the previously identified geopolitical risks, the prolonged situation in Ukraine and the impact of rising raw material prices have been identified as factors contributing to uncertainty in overseas economies and the business environment. - FY2022WorsenedAnnual report
「At the same time, the outlook remains uncertain due in part to the impact on economic activity of the rapid increase in geopolitical risks.」
The impact on economic activity of the rapid increase in geopolitical risks has newly been identified as a factor contributing to uncertainty in overseas economies. - FY2020-Q3RestatedAnnual report
「The economy was on a gradual recovery path against a backdrop of improving employment and income conditions, but the operating environment remains uncertain due to uncertainty in overseas economies resulting from heightened tensions over trade issues, among other factors.」
While the domestic economy remains on a recovery path, uncertainty and an unclear outlook for overseas economies resulting from heightened tensions over trade issues have been reaffirmed. - FY2020-Q2RestatedAnnual report
「The economy was on a gradual recovery path against a backdrop of improving employment and income conditions, but the operating environment remains uncertain due to uncertainty in overseas economies resulting from heightened tensions over trade issues, among other factors.」
While the domestic economy remains on a recovery path, uncertainty and an unclear outlook for overseas economies resulting from heightened tensions over trade issues have been reaffirmed. - FY2019RestatedAnnual report
「Overseas economies have remained firm, driven by the resilient US economy, but the outlook is expected to remain uncertain due to concerns about the impact of trade issues, including the prolonged trade friction between the United States and China, on the global economy, as well as uncertainty surrounding policies in countries around the world.」
The prolonged US-China trade friction, trade issues and policies in countries around the world have been reaffirmed as factors contributing to uncertainty in the global economy. - FY2019-Q3ReframedAnnual report
「Overseas economies remain uncertain, with concern that the prolonged trade friction between the United States and China may affect economic developments in countries around the world.」
The factors contributing to uncertainty in overseas economies have been specified as the prolonged US-China trade friction and its impact on economic developments in individual countries, rather than the political and economic conditions of those countries generally. - FY2019-Q2RestatedAnnual report
「In addition, the overseas economy maintained a gradual recovery trend, led by the US, but uncertainty about the outlook continued amid concern over the impact of political and economic developments in various countries.」
The overseas economy remained on a recovery trend, while uncertainty due to political and economic developments in various countries continued. - FY2019-Q1RestatedAnnual report
「In addition, the overseas economy maintained a gradual recovery trend, led by the US, but uncertainty about the outlook continued amid concern over the impact of policy developments in various countries.」
The overseas economy maintained a recovery trend, while uncertainty about the outlook due to policy developments in various countries continued. - FY2018-Q3RestatedAnnual report
「In addition, the global economy remained uncertain due to geopolitical risks in Asia and instability in the political situations in North Korea and the US.」
Geopolitical risks in Asia and the political situations in North Korea and the US are reiterated as sources of uncertainty for the global economy. - FY2018-Q2RestatedAnnual report
「The global economy remained uncertain due to geopolitical risks in Asia and instability in the political situations in the UK and the US.」
Geopolitical risks in Asia and the political situations in the UK and the US are reiterated as sources of uncertainty for the overseas economy. - FY2017RestatedAnnual report
「The impact on the global economy of downside risks to emerging market economies, led by China, the UK's withdrawal from the EU and policies of the new US administration remains unknown, and the situation is expected to remain unpredictable.」
Emerging market economies, the UK's withdrawal from the EU and the new US administration continue to be described as sources of uncertainty in the overseas economy. - FY2017-Q3WorsenedAnnual report
「At the same time, the overseas economic environment remained uncertain, due to the slowdown in emerging market economies, led by China, the UK's withdrawal from the EU and the transition to a new US administration.」
In addition to the slowdown in the economies of China and other emerging markets and the UK's withdrawal from the EU, the transition to a new US administration has emerged as another source of uncertainty for the overseas economy. - FY2017-Q2First statedAnnual report
「At the same time, attention needs to be paid to uncertainty in the overseas economy going forward, including downside risks to the economies of emerging Asian countries, led by China, and resource-rich countries, as well as the UK's withdrawal from the EU.」
Downside risks to the economies of China, emerging Asian countries and resource-rich countries, and the UK's withdrawal from the EU, are described for the first time as sources of uncertainty in the overseas economy.