Uncertainty over the economic outlook due to rising prices and U.S. trade policy
First written in FY2025-H1. 1 of 3 entries say "Restated". Latest entry: FY2026-H1.
ETS Group moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
76 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「In the construction industry, in which the Group primarily operates, construction costs continue to rise because of surging material prices and labor costs, while strong corporate capital investment appetite continues and business is progressing on the support of firm demand.」
The Group explains that uncertainty has increased against a backdrop of surging material and labor costs and rising energy costs due to heightened tensions in the Middle East. - FY2025RestatedAnnual report
「The risk that continued inflation will weigh on personal consumption is increasing. In addition, the outlook for the global economy remains uncertain because of the effects of U.S. trade policy and changes in the political situations of various countries.」
Inflation, U.S. trade policy and political conditions continue to be cited as sources of uncertainty for the economy and global economic outlook. - FY2025-H1First statedAnnual report
「The economic outlook remains uncertain, partly because of continued inflation and the effects of U.S. trade policy.」
Continued inflation and U.S. trade policy are identified as factors contributing to uncertainty about the economic outlook.