Domestic Economic Stagnation Amid Weak Personal Consumption and a Slowing Global Economy
First written in FY2016-Q3. 10 of 33 entries say "Restated". Latest entry: FY2026-H1.
S-Pool 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 2020: 141 of 158 companies on the "Worse" side.
24 other companies' latest entry also says "Other".
- FY2026-H1Recovery trend coexisting with inflation, policy, trade and geopolitical risksAnnual report
「During the interim consolidated accounting period, Japan's economy continued on a gradual recovery track, with signs of a recovery in personal consumption against a backdrop of improving employment and income conditions and a recovery in inbound demand. On the other hand, the outlook remained uncertain due to prolonged high prices, exchange-rate volatility, rising resource, energy, and raw material prices, uncertainty surrounding the monetary policies of major countries and US policy management and trade policy, and heightened geopolitical risks.」
While recognizing a gradual recovery supported by employment and income conditions and inbound demand, the company also notes high prices, exchange rates, resource and raw material prices, the monetary policies of major countries, US policy management and trade policy, and geopolitical risks as sources of uncertainty. - FY2025Gradual recovery alongside inflation, geopolitical, and financial-market risksAnnual report
「During the fiscal year, Japan's economy remained on a gradual recovery track due to improvements in employment and income conditions and increased inbound demand. On the other hand, the outlook remained uncertain due to factors including soaring raw material and energy prices, higher prices caused by yen depreciation, heightened geopolitical risks, and volatility in financial and capital markets.」
While describing a recovery driven by employment and income conditions and inbound demand, the company continues to note uncertainty due to high prices, geopolitical risks, and volatility in financial markets. - FY2025-H1Gradual recovery alongside rising prices and exchange-rate volatilityAnnual report
「During the interim consolidated accounting period, Japan's economy showed signs of a gradual recovery, supported by expanding inbound consumption and corporate wage increases. On the other hand, continued price increases, particularly for food and daily necessities, against a backdrop of soaring raw material and energy prices and exchange-rate volatility have restrained consumer sentiment, and the outlook remains uncertain.」
While describing a recovery trend supported by inbound consumption and wage increases, the company newly specifies raw material and energy prices, exchange-rate volatility, and rising prices as factors restraining consumer sentiment. - FY2024Gradual recovery alongside external uncertaintiesAnnual report
「During the fiscal year, Japan's economy remained on a gradual recovery track due to improvements in employment and income conditions and increased inbound demand. On the other hand, the outlook remained uncertain due to soaring raw material and energy prices, higher prices caused by yen depreciation, heightened geopolitical risks, and instability in financial markets.」
While describing a recovery driven by employment and income conditions and inbound demand, the company also notes uncertainty due to high prices, geopolitical risks, and instability in financial markets. - FY2024-Q2RestatedAnnual report
「During the six-month period of the current fiscal year, Japan's economy showed signs of recovery as social and economic activity continued to normalize. However, raw material and energy prices continued to rise against a backdrop of international instability and yen depreciation, and the outlook remained uncertain.」
While acknowledging the normalization of social and economic activity and an economic recovery, the company continues to note uncertainty about the outlook due to international conditions, yen depreciation, and rising raw material and energy prices. - FY2023RestatedAnnual report
「During the fiscal year, signs of a recovery in consumer activity began to emerge as restrictions on behavior related to the spread of COVID-19 were eased. However, the outlook for the economy remained uncertain due to the prolonged situation in Ukraine, the broadening impact of rising prices caused by soaring raw material and energy prices, and recession risks stemming from global monetary tightening.」
While acknowledging signs of a recovery in consumer activity, the company continues to note uncertainty due to the situation in Ukraine, rising prices, monetary tightening, and recession risks. - FY2023-Q3WorsenedAnnual report
「During the nine-month period of the current fiscal year, restrictions on behavior were eased as COVID-19 was reclassified as a Category V infectious disease, and signs of a recovery in consumer activity began to emerge. However, the outlook for the economy remained uncertain due to the prolonged situation in Ukraine, growing inflationary pressure from soaring raw material and energy prices, and recession risks stemming from global monetary tightening.」
While acknowledging the easing of restrictions on behavior and signs of a recovery in consumer activity, the company newly specifies the situation in Ukraine, inflationary pressure, and recession risks from global monetary tightening, while maintaining the view that the outlook remains uncertain. - FY2023-Q2RestatedAnnual report
「During the six-month period of the current fiscal year, Japan's economy continued to recover gradually as economic activity moved toward normalization following the easing of measures addressing COVID-19. However, the outlook remained uncertain due to the prolonged situation in Ukraine, soaring raw material and energy prices, and rising prices resulting from the depreciation of the yen.」
While economic activity continued to normalize and recover gradually, the company continued to note the situation in Ukraine, raw material and energy prices, inflation caused by yen depreciation, and uncertainty about the outlook. - FY2023-Q1Progress toward economic normalization alongside continued concerns about inflation and monetary tighteningAnnual report
「During the first quarter of the current fiscal year, Japan's economy showed signs of a gradual recovery as economic activity moved toward normalization due to the decline in new infections and the easing of restrictions on behavior related to COVID-19. Meanwhile, concerns remained about elevated crude oil and raw material prices resulting from the prolonged situation in Ukraine and global monetary tightening, and the outlook for the economy remained uncertain.」
While describing economic normalization and a gradual recovery due to the decline in infections and the easing of restrictions on behavior, the company maintains the view that the outlook remains uncertain because of the situation in Ukraine, elevated crude oil and raw material prices, and global monetary tightening. - FY2022Signs of economic normalization noted alongside rising prices and uncertaintyAnnual report
「During the fiscal year, Japan's economy showed signs of moving toward normalization as restrictions on behavior related to the spread of COVID-19 were eased. However, rising prices caused by a global energy supply shortage, partly due to the situation in Ukraine, intensified, and the outlook remained uncertain.」
While acknowledging signs of economic normalization following the easing of restrictions on behavior, the company also notes uncertainty due to the situation in Ukraine, energy supply shortages, and rising prices. - FY2022-Q3WorsenedAnnual report
「During the nine-month period of the current fiscal year, the Japanese economy showed signs of a gradual recovery as restrictions on behavior related to COVID-19 were eased. However, the resurgence of infections due to a new variant, the prolonged situation in Ukraine, and soaring energy and raw material prices resulting from the rapid depreciation of the yen combined to keep conditions difficult.」
While recognizing an economic recovery following the easing of restrictions on behavior, the company states that the difficult economic environment continues as the impact of a new variant, the prolonged situation in Ukraine, yen depreciation, and soaring energy and raw material prices has accumulated. - FY2022-Q2Economic recovery noted alongside new external risksAnnual report
「During the six-month period of the current fiscal year, the Japanese economy showed signs of a gradual recovery as the number of new COVID-19 infections declined and restrictions on behavior were eased. However, the outlook remained uncertain due to mounting international tensions, including Russia's invasion of Ukraine, a rapid depreciation of the yen, and soaring raw material and energy prices.」
While describing an economic recovery due to the decline in infections and the easing of restrictions on behavior, the company expresses the view that the outlook remains uncertain because of the invasion of Ukraine, yen depreciation, and soaring raw material and energy prices. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the current fiscal year, conditions briefly stabilized as the number of new COVID-19 infections fell substantially. However, the spread of a new variant led to the implementation of priority preventive measures, and the outlook remained uncertain.」
The company has returned from a temporary period of stability following the decline in infections to the view that the outlook remains uncertain due to the spread of a new variant and the implementation of priority preventive measures. - FY2021Economic improvement noted alongside risks from variantsAnnual report
「During the fiscal year, the number of new infections in Japan fell substantially due in part to the rollout of COVID-19 vaccinations, and signs of improving economic activity emerged, including the lifting of the state of emergency declaration at the end of September 2021. On the other hand, risks of a resurgence in infections, including the threat of variants, remain, and the outlook may continue to be uncertain.」
While describing improvements in economic activity due to vaccinations and the lifting of the state of emergency declaration, the company also notes the resurgence of infections due to variants and continued uncertainty about the outlook. - FY2021-Q3WorsenedAnnual report
「During the nine-month period of the current fiscal year, COVID-19 vaccinations began, but infections continued to increase, and the outlook remained uncertain as intermittent states of emergency and priority preventive measures were implemented.」
While the start of vaccinations represents progress, the difficult economic environment and uncertainty about the outlook due to the spread of infection and states of emergency continue. - FY2021-Q2Expectations for containment through vaccination noted alongside a difficult economic environmentAnnual report
「During the six-month period of the current fiscal year, the Japanese economy remained in a difficult situation as economic activity was restricted following the reissuance of the state of emergency declaration in response to the spread of COVID-19. Going forward, the spread of infection is expected to subside following the start of vaccinations, but the outlook remains uncertain.」
While restrictions on economic activity under the state of emergency declaration have kept conditions difficult, the company also notes expectations that vaccination will bring the outbreak under control. The view that the outlook remains uncertain continues. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current fiscal year, uncertainty about the outlook for economic conditions and the economy in Japan and overseas continued as COVID-19 infections resurged and a state of emergency was declared again from January 2021.」
The company states that uncertainty about the outlook for economic conditions and the economy in Japan and overseas continues due to the resurgence of COVID-19 infections and the reissuance of the state of emergency declaration. - FY2020RestatedAnnual report
「During the fiscal year, Japan's economy remained in a very difficult situation as the spread of COVID-19 caused personal consumption and corporate activity to stagnate. Although signs of a phased reopening of economic activity were observed, the outlook remained uncertain.」
The annual report maintains the view that personal consumption and corporate activity have stagnated due to COVID-19 and that the outlook remains uncertain despite the phased reopening of economic activity. - FY2020-Q3WorsenedAnnual report
「During the nine-month period of the current fiscal year, Japan's economy remained in an extremely difficult situation as the spread of COVID-19 caused personal consumption and corporate activity to stagnate. Although signs of a phased reopening of economic activity were observed, the outlook remained uncertain.」
While mentioning the phased reopening of economic activity, the company states that the domestic economy remains extremely difficult due to stagnation in personal consumption and corporate activity, and that uncertainty about the outlook continues. - FY2020-Q2WorsenedAnnual report
「However, as COVID-19 infections spread worldwide, various measures were implemented in Japan under the state of emergency declaration to prevent the spread of infection. As a result, economic activity in Japan and overseas has been significantly affected, and uncertainty about the outlook has intensified.」
The description has deteriorated from the previous recovery trend and concerns about the spread of infection to the significant impact of the state of emergency declaration on economic activity and heightened uncertainty about the outlook. - FY2020-Q1Recovery trend noted alongside concerns about COVID-19Annual report
「During the first quarter of the current fiscal year, Japan's economy gradually recovered despite concerns about developments surrounding trade issues, the impact of the UK's withdrawal from the EU, and the impact of the consumption tax rate increase, as corporate earnings and employment conditions continued to improve. Meanwhile, infections with the novel coronavirus (COVID-19) have spread worldwide, raising concerns about the potential impact on the global economy going forward.」
The company has maintained its view that the domestic economy is on a gradual recovery track while also noting the global spread of COVID-19 and concerns about its impact on the global economy. - FY2019RestatedAnnual report
「Corporate earnings and capital investment remained solid, while the domestic economy continued on a gradual recovery track.」
While expressing concerns about overseas economies and the consumption tax rate increase, the company continues to view the domestic economy as being on a gradual recovery track. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, concerns remain over the outlook for the Chinese economy, uncertainty surrounding overseas economic conditions and policies, rising crude oil prices and volatility in financial and capital markets. However, corporate earnings have remained high and resilient, and the domestic economy continues on a moderate recovery trend.」
While expressing concerns about the Chinese economy, overseas economies and policies, crude oil prices, and financial markets, the company has reaffirmed that the domestic economy is on a gradual recovery track. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, concerns remain over the outlook for the Chinese economy, uncertainty surrounding overseas economic conditions and policies, and volatility in financial and capital markets. However, corporate earnings and capital investment have remained firm, and the domestic economy continues on a moderate recovery trend.」
While expressing concern about overseas economies and financial markets, the company reiterates its view that the domestic economy continues on a moderate recovery trend, supported by corporate earnings and capital investment. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter under review, concerns remain over the outlook for the Chinese economy, uncertainty surrounding overseas economic conditions and policies, and volatility in financial and capital markets. However, corporate earnings and capital investment have remained firm, and the domestic economy continues on a moderate recovery trend.」
While expressing concern about the Chinese economy, overseas economies and policies, and financial markets, the company reiterates its view that the domestic economy continues on a moderate recovery trend, supported by corporate earnings and capital investment. - FY2018MitigatedAnnual report
「During the consolidated fiscal year under review, concerns remain over the impact of uncertainties in the global economy, including US-China trade friction, and volatility in financial and capital markets. However, corporate earnings and capital investment have remained firm, and the domestic economy continues on a moderate recovery trend.」
Although concerns over uncertainty in the global economy remain, the description of the domestic economy has shifted from the previous expansion trend to a moderate recovery trend for the year. - FY2018-Q3RestatedAnnual report
「Capital investment in manufacturing, particularly in semiconductor-related areas, remains firm, and the domestic economy continues to expand moderately.」
The company continues to describe a moderate expansion trend in the domestic economy, supported by capital investment in manufacturing. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy continued to expand moderately, as capital investment in manufacturing, particularly in semiconductor-related areas, remained firm.」
The company continues to describe a moderate expansion trend in the domestic economy, supported by capital investment in manufacturing, as in the previous quarter. - FY2018-Q1MitigatedAnnual report
「During the cumulative first quarter under review, Japan's economy continued to expand moderately, as capital investment in manufacturing, particularly in semiconductor-related areas, remained firm.」
The description of the domestic economy has improved from the previous moderate recovery to a moderate expansion trend, supported by capital investment in manufacturing. - FY2017-Q3MitigatedAnnual report
「During the cumulative third quarter under review, Japan's economy continued to recover moderately, with personal consumption and capital investment serving as the main drivers, including real GDP growth in the April–June quarter for the sixth consecutive quarter.」
The company states that the domestic economy continues to recover moderately, driven by personal consumption and capital investment. - FY2017-Q2MitigatedAnnual report
「During the cumulative second quarter under review, Japan's economy continued to recover moderately, particularly in manufacturing, driven by external demand, mainly exports to Asia, and signs of a recovery in personal consumption.」
The company states that personal consumption is also showing signs of recovery in addition to external demand, and that the domestic economy continues to recover moderately. - FY2017-Q1MitigatedAnnual report
「During the cumulative first quarter under review, Japan's economy continued to recover moderately, particularly in manufacturing, as the strength of overseas economies, led by the United States, spread through the domestic economy, despite a lack of strength in personal consumption.」
Although personal consumption remains weak, the description of the domestic economy has improved from stagnation to a moderate recovery, supported by the spillover from overseas economies. - FY2016-Q3First statedAnnual report
「During the cumulative third quarter under review, Japan's economy remained stagnant as personal consumption languished and the domestic economy was affected by the global economic slowdown, including slower growth in China.」
Weak personal consumption, a global economic slowdown and stagnation in the domestic economy are identified as the current business environment.