Downside risk to the economy from sluggish personal consumption and slower growth in emerging Asian economies
First written in FY2017-Q3. 9 of 25 entries say "Reframed", first in FY2018. Latest entry: FY2026-H1.
Care Service moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 152 of 179 companies on the "Worse" side.
38 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「During the interim fiscal period, Japan's economy was on a recovery path, but consumer sentiment weakened because of prolonged high prices. The outlook remained uncertain because of US trade policy, concerns about an overseas economic slowdown, and developments in the Middle East and Ukraine.」
While indicating a gradual economic recovery, it identifies weaker consumer sentiment caused by prolonged high prices, US trade policy, concerns about an overseas economic slowdown, and conditions in the Middle East and Ukraine as sources of uncertainty. - FY2025-H1ReframedAnnual report
「During the interim consolidated fiscal period, Japan's economy showed a gradual recovery amid improving employment and income conditions. However, uncertainty continued because of persistently high energy and raw material prices and the prolonged depreciation of the yen resulting from worsening conditions in the Middle East and the prolonged situation in Ukraine.」
While indicating a gradual recovery supported by improvements in employment and income conditions, it identifies conditions in the Middle East and Ukraine, energy and raw material prices, and the weak yen as sources of uncertainty. - FY2024ReframedAnnual report
「During the consolidated fiscal year, economic activity continued to normalize and personal consumption and inbound demand recovered as COVID-19 was reclassified as a Category V infectious disease, supporting a gradual economic recovery. However, the outlook remained uncertain because of concerns about the effects of prolonged high prices and volatility in international financial markets.」
While indicating the normalization and recovery of economic activity following the reclassification of COVID-19 as a Category V infectious disease, it identifies prolonged high prices and volatility in international financial markets as downside factors. - FY2024-Q3ReframedAnnual report
「During the cumulative third quarter, economic activity continued to normalize and the economy showed a gradual recovery supported by higher wages, a recovery in personal consumption and a rebound in inbound demand. However, downside risks including prolonged high prices and volatility in international financial markets remained, and the outlook was still uncertain.」
While indicating a recovery in economic activity, wages, personal consumption and inbound demand, it identifies prolonged high prices and volatility in international financial markets as downside factors for the economy. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter, economic activity continued to normalize and personal consumption and inbound demand were recovering, but the outlook remained uncertain because of continuing price increases and volatility in international financial markets.」
While indicating a recovery in economic activity, personal consumption and inbound demand, it identifies continuing price increases and volatility in international financial markets as new sources of uncertainty. - FY2024-Q1ReframedAnnual report
「During the cumulative first quarter, economic activity normalized and the economy remained on a gradual recovery path, but the outlook remained uncertain because of the intensifying situation in Ukraine and global monetary tightening, which led to higher energy prices and prolonged inflation continuing from the previous fiscal year.」
While indicating the normalization of economic activity and a gradual recovery, it identifies the situation in Ukraine, global monetary tightening, higher energy prices and prolonged inflation as new sources of uncertainty. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter, Japan's economy gradually moved toward normalization as restrictions on activity were eased following the full lifting of the quasi-emergency measures in March 2022, despite repeated increases and decreases in infections. However, the outlook remained uncertain because of heightened international tensions, surging global resource prices and sharp foreign exchange fluctuations.」
While indicating the easing of activity restrictions and normalization of economic activity, it states that uncertainty about the outlook continues because of international conditions, resource prices and sharp foreign exchange fluctuations. - FY2023-Q2WorsenedAnnual report
「However, since July 2022, consumer behavior has shown signs of restraint because of the effects of the seventh wave of COVID-19. The outlook has remained uncertain amid surging global resource prices, heightened international tensions and a rapid depreciation of the yen.」
In addition to the seventh wave of COVID-19, surging resource prices, heightened international tensions and the rapid depreciation of the yen have been added and emphasized as sources of economic uncertainty. - FY2023-Q1ReframedAnnual report
「During the cumulative first quarter, economic conditions showed signs of improvement after the lifting of the quasi-emergency measures applied in response to the resurgence of COVID-19, although the outlook remained uncertain because of rising energy prices.」
The description has shifted from focusing on economic risks from activity restrictions caused by a resurgence of infections to indicating a recovery following the lifting of the measures, while still citing uncertainty about the outlook, including rising energy prices. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter, some social and economic activity, particularly in urban areas, remained restricted amid the COVID-19 pandemic. Although new infections had begun to trend lower following the start of vaccinations, the outlook remained uncertain.」
While indicating a decline in new infections following the start of vaccinations, it states that restrictions on activity in urban areas and uncertainty about the economic outlook continue. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter, some social and economic activity, particularly in urban areas, remained restricted because of the resurgence of COVID-19, and the outlook remained uncertain.」
The resurgence of COVID-19 led to partial restrictions on social and economic activity in urban areas, and uncertainty about the economic outlook continued. - FY2021-Q3The outlook became uncertain again after recovery as a third wave emergedAnnual report
「During the cumulative third quarter, Japan's economy showed signs of recovery as economic activity gradually resumed while measures were taken in Japan and overseas to prevent the spread of COVID-19. However, infections began to spread again from November, and the outlook remained uncertain.」
While recovery was indicated as economic activity resumed, the description shifted to state that uncertainty about the outlook continued because infections spread again from November. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter, Japan's economy entered an extremely difficult situation as the spread of COVID-19 led to the declaration of a state of emergency and social and economic activity rapidly stagnated across regions, industries and company sizes. Although economic activity has begun to resume following the lifting of the state of emergency, the outlook remains unpredictable because of concerns about a second wave of COVID-19.」
COVID-19 caused economic activity to stagnate rapidly, leaving the economy in an extremely difficult situation. Concerns about a second wave persisted even after the state of emergency was lifted, heightening vigilance toward downside risks. - FY2020WorsenedAnnual report
「While continuing to pay close attention to downside risks from the effects of trade disputes on the global economy, increasing geopolitical uncertainty including heightened tensions in the Middle East, and the psychological effects of the consumption tax rate increase, the spread of COVID-19 in the fourth quarter raised concerns about an economic slowdown as domestic and global activity stagnated, leaving the situation unpredictable.」
In addition to the previously cited trade disputes, geopolitical risks and consumption tax rate increase, stagnation in domestic and overseas activity caused by COVID-19 and concerns about an economic slowdown have been added, strengthening the description of downside risks. - FY2020-Q3RestatedAnnual report
「Meanwhile, greater attention must be paid to downside risks to the economy arising from the effects of developments in trade disputes on the global economy, increasing geopolitical uncertainty including heightened tensions in the Middle East, and the psychological effects of the consumption tax rate increase.」
It continues to be alert to trade disputes, geopolitical risks and the psychological effects of the consumption tax rate increase as downside factors for the economy. - FY2020-Q2WorsenedAnnual report
「Meanwhile, greater attention must be paid to the economic outlook because of concerns about downside risks arising from the effects of developments in trade disputes on the global economy, increasing geopolitical uncertainty including heightened tensions in the Middle East, and the effects of the consumption tax increase implemented in October.」
In addition to the previously cited trade disputes and geopolitical risks, it identifies heightened tensions in the Middle East and the effects of the consumption tax increase as downside factors, reflecting heightened concern about the outlook. - FY2020-Q1WorsenedAnnual report
「Meanwhile, as trade friction intensifies and uncertainty surrounding geopolitical risks increases, greater attention must be paid to the effects on the global economy and the outlook for economic conditions.」
It cites intensifying trade friction and increased uncertainty surrounding geopolitical risks, reflecting heightened concern about the economic outlook. - FY2019WorsenedAnnual report
「Meanwhile, amid growing concerns about a slowdown in the global economy due to the impact of successive natural disasters and escalating trade friction, uncertainty about the outlook is increasing.」
The description has shifted to state that uncertainty about the outlook has increased against a backdrop of natural disasters, trade friction and concerns about a slowdown in the global economy. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter, Japan's economy remained on a gradual recovery path as corporate performance continued to improve, but signs of disruption in economic conditions emerged partly because of global trade friction. In addition, personal consumption remained weak amid unfavorable weather and natural disasters, and the outlook for the economy remained uncertain.」
While indicating a gradual economic recovery, it continues to cite global trade friction, unfavorable weather, natural disasters and weak personal consumption as sources of economic uncertainty. - FY2019-Q2ReframedAnnual report
「During the cumulative second quarter, Japan's economy remained on a gradual recovery path as corporate performance continued to improve, but signs of disruption in economic conditions emerged partly because of global trade friction. In addition, personal consumption remained sluggish amid unfavorable weather and natural disasters, and the outlook for the economy remained uncertain.」
While indicating a gradual economic recovery, it cites global trade friction, unfavorable weather, natural disasters and weak personal consumption, in addition to the previously noted uncertainties, as downside factors for the economy. - FY2018ReframedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery path as the benefits of the expanding global economy gradually spread, while the effects of ongoing economic measures and monetary policy by the government and the Bank of Japan led to improvements in corporate earnings and employment conditions. However, the outlook for the economy remains uncertain because of factors including growing geopolitical risks and the effects of uncertainty surrounding political and economic developments overseas.」
The description has shifted from focusing on weak personal consumption and slower growth in emerging economies to presenting both the gradual economic recovery and uncertainty involving geopolitical and overseas political and economic developments. - FY2018-Q3RestatedAnnual report
「Meanwhile, personal consumption has remained sluggish because the improvement in employment conditions has not been accompanied by higher wages and there are also concerns about rising prices. The outlook therefore remains uncertain.」
It has reconfirmed that the economic environment remains characterized by sluggish personal consumption and continued uncertainty about the outlook. - FY2018-Q2RestatedAnnual report
「Meanwhile, personal consumption has remained sluggish because the improvement in employment conditions has not been accompanied by higher wages and there are also concerns about rising prices. The outlook therefore remains uncertain.」
It describes an economic environment in which sluggish personal consumption and uncertainty about the outlook continue. - FY2017RestatedAnnual report
「Downside risks to the economy associated with lower real interest rates, weak personal consumption and slower growth in emerging Asian economies, particularly China, as well as the effects of changes in policy following the change of administration in the United States and issues surrounding the UK's and other countries' withdrawal from the EU, have continued to materialize, and the outlook remains uncertain.」
It continues to cite economic downside risks and uncertainty about the outlook arising from weak personal consumption, slower growth in emerging Asian economies including China, and other factors. - FY2017-Q3First statedAnnual report
「Downside risks to the economy associated with lower real interest rates, weak personal consumption and slower growth in emerging Asian economies, particularly China, have continued to materialize, and the outlook remains uncertain.」
It states that downside risks to the economy associated with weak personal consumption and slower growth in emerging Asian economies, including China, have materialized and that uncertainty about the outlook continues.