Downside risks from a slowdown in China, lower oil prices and other external factors
First written in FY2016. 15 of 32 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-08-05.
Takachiho Koheki moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 127 of 168 companies on the "Worse" side.
67 other companies' latest entry also says "Restated".
- 2026-08-05RestatedEarnings
「However, looking ahead, although improvements in employment and income conditions and the effects of various policies are expected to support a gradual recovery, the impact of the situation in the Middle East will continue to require close monitoring. Attention must also be paid to the effects of volatility in financial and capital markets.」
The Company reiterated the situation in the Middle East and volatility in financial and capital markets as external factors requiring attention. - FY2026WorsenedAnnual report
「However, if global trade friction and geopolitical risks affect demand among the manufacturing companies that are our customers, there is no guarantee that our business performance will remain unaffected. Our Group's business performance and financial position may continue to be affected by such fluctuations in supply and demand.」
As business risks related to the external environment, the company explicitly identifies the possibility that global trade friction and geopolitical risks could affect demand, supply and demand, business performance and financial position among its manufacturing customers. - FY2026-H1WorsenedAnnual report
「However, the risk that a downturn in economic conditions resulting from the impact of US trade policy and the effects of continued inflation on private consumption through weaker consumer sentiment and other channels could weigh on Japan's economy has emerged. Attention must also continue to be paid to the effects of fluctuations in the financial and capital markets.」
In addition to continued attention to overseas economies and China's economy, the company explicitly identifies US trade policy and continued inflation as risks that could weigh on economic conditions and private consumption. - FY2025-H1WorsenedAnnual report
「However, the downturn in overseas economies, including the effects of continued high interest rates in Europe and the US and continued stagnation in China's real estate market, poses a risk of weighing on Japan's economy. Sufficient attention must also be paid to the effects of soaring material prices, the situation in the Middle East and fluctuations in the financial and capital markets.」
In addition to continued attention to overseas economies, material prices, the situation in the Middle East and the financial and capital markets, the company explicitly identifies continued high interest rates in Europe and the US and continued stagnation in China's real estate market. - FY2024-Q3WorsenedAnnual report
「However, the downturn in overseas economies, including the effects of global monetary tightening and concerns about the outlook for China's economy, poses a risk of weighing on Japan's economy. Sufficient attention must also be paid to the effects of soaring material prices, the situation in the Middle East and fluctuations in the financial and capital markets.」
In addition to continued attention to global monetary tightening, China's economy, material prices and the financial and capital markets, the company explicitly identifies the situation in the Middle East as an external-environment risk. - FY2024-Q2WorsenedAnnual report
「However, the downturn in overseas economies, including the effects of global monetary tightening and concerns about the outlook for China's economy, poses a risk of weighing on Japan's economy. Sufficient attention must also be paid to the effects of soaring material prices and fluctuations in the financial and capital markets.」
The company explicitly identifies global monetary tightening, a downturn in overseas economies, concerns about the outlook for China's economy, soaring material prices and fluctuations in the financial and capital markets as external-environment risks. - FY2024-Q1RestatedAnnual report
「However, as global monetary tightening and other factors continue, sufficient attention must be paid to the risk that a downturn in overseas economies could weigh on Japan's economy, as well as the effects of soaring material prices and fluctuations in the financial and capital markets.」
The company continues to identify global monetary tightening, a downturn in overseas economies, soaring material prices and fluctuations in the financial and capital markets as external-environment risks. - FY2023RestatedAnnual report
「However, as global monetary tightening and other factors continue, sufficient attention must be paid to the risk that a downturn in overseas economies could weigh on Japan's economy, as well as the effects of soaring material prices, supply-side constraints and fluctuations in the financial and capital markets.」
The company continues to identify global monetary tightening, a downturn in overseas economies, soaring material prices, supply constraints and fluctuations in the financial and capital markets as external-environment risks. - FY2023-Q3RestatedAnnual report
「However, as global monetary tightening and other factors continue, sufficient attention must be paid to the risk that a downturn in overseas economies could weigh on Japan's economy, as well as the effects of soaring material prices, supply-side constraints and fluctuations in the financial and capital markets.」
The company continues to identify global monetary tightening, a downturn in overseas economies, soaring material prices, supply constraints and fluctuations in the financial and capital markets as external-environment risks. - FY2023-Q2RestatedAnnual report
「However, as global monetary tightening and other factors continue, sufficient attention must be paid to the risk that a downturn in overseas economies could weigh on Japan's economy, as well as the effects of soaring material prices, supply-side constraints and fluctuations in the financial and capital markets.」
The company continues to identify global monetary tightening, a downturn in overseas economies, soaring material prices, supply constraints and fluctuations in the financial and capital markets as external-environment risks. - FY2023-Q1WorsenedAnnual report
「Looking ahead, a recovery in economic conditions is expected as economic and social activity moves toward normalization with thorough infection-control measures in place. However, it is necessary to closely monitor downside risks arising from a prolonged situation in Ukraine, fluctuations in the financial and capital markets caused by global monetary tightening, soaring resource prices and accelerating global inflation.」
In addition to the previously cited risks related to infectious diseases, the situation in Ukraine, the financial and capital markets and supply conditions, the company explicitly identifies a prolonged situation in Ukraine, global monetary tightening, soaring resource prices and accelerating inflation. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, infections caused by COVID-19 variants spread, but conditions gradually eased and signs of recovery emerged. Looking ahead, as economic and social activity moves toward normalization with thorough infection-control measures in place, a recovery in economic conditions is expected, supported by the effects of various policies and improvements in overseas economies. However, amid uncertainty related to the situation in Ukraine and other factors, it is necessary to closely monitor downside risks arising from higher raw material prices, fluctuations in the financial and capital markets and supply-side constraints, as well as the impact of infectious diseases.」
In addition to continued attention to infectious diseases, the financial and capital markets and supply constraints, the company explicitly identifies the situation in Ukraine and higher raw material prices, broadening the scope of external-environment risks. - FY2022-Q3WorsenedAnnual report
「However, sufficient attention must be paid to downside risks arising from a renewed spread of infectious diseases, supply-side constraints and trends in raw material prices, and it is necessary to closely monitor the effects of fluctuations in the financial and capital markets.」
In addition to continued attention to a renewed spread of infectious diseases and fluctuations in the financial and capital markets, the company newly identifies downside risks arising from supply-side constraints and trends in raw material prices, broadening the scope of its description of external-environment risks. - FY2022-Q2WorsenedAnnual report
「Although competition in the Group’s market environment continues to intensify, we are seeking to strengthen competitiveness and improve earnings through value-added offerings, while creating a new earnings base through global business expansion and new businesses in anticipation of further growth.」
The company explicitly notes the risk of an economic downturn resulting from the impact transmitted through supply chains, in addition to infectious diseases and fluctuations in the financial and capital markets, broadening the scope of its description of external-environment risks. - FY2022-Q1RestatedAnnual report
「Looking ahead, a continued recovery is expected as the effects of various policies, including measures to prevent the spread of infection and the promotion of vaccinations, and improvements in overseas economies take hold. However, it is necessary to closely monitor the risk that a renewed spread of the disease could weigh on domestic and overseas economies through its impact on socioeconomic activity, as well as the effects of fluctuations in the financial and capital markets.」
The company continues to note downside risks to domestic and overseas economies from a renewed spread of infection and fluctuations in the financial and capital markets. It also states that a recovery is expected from measures to prevent the spread of infection and the promotion of vaccinations. - FY2021-Q3WorsenedAnnual report
「Japan's economy during the third quarter of the current consolidated cumulative period remains in an extremely severe situation due to the impact of COVID-19, although signs of recovery have emerged. Looking ahead, conditions remain severe, including the reissuance of a state of emergency, but a continued recovery is expected as measures to prevent the spread of infection are implemented, supported by the effects of various policies and improvements in overseas economies. However, it is necessary to closely monitor the risk that the spread of infection could weigh on domestic and overseas economies through its impact on socioeconomic activity, as well as the effects of fluctuations in the financial and capital markets.」
The company indicates that attention should be paid to the severe economic environment, including the reissuance of a state of emergency, downside risks to domestic and overseas economies caused by the spread of infection, and fluctuations in the financial and capital markets. - FY2021-Q2ReframedAnnual report
「However, it is necessary to closely monitor the impact of trends in infectious diseases in Japan and overseas and fluctuations in the financial and capital markets.」
While continuing to note trends in infectious diseases, the description of external-environment risks has shifted from previously cited trade issues and other factors to fluctuations in the financial and capital markets. - FY2021-Q1RestatedAnnual report
「Japan's economy during the first quarter of the current consolidated cumulative period is in an extremely severe situation due to the impact of COVID-19. Looking ahead, economic conditions are expected to begin recovering as measures to prevent the spread of infection are implemented for the time being and the level of socioeconomic activity is gradually raised, supported by the effects of various economic measures. However, attention must be paid to overseas conditions, including the impact of trends in infectious diseases in Japan and overseas and trade issues on the equity and foreign exchange markets.」
The company continues to note the severe economic environment caused by COVID-19 and the impact of trends in infectious diseases and trade issues on the markets. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy was on a gradual recovery track, supported by a moderate increase in capital investment and a recovery in private consumption resulting from improvements in employment and income conditions. However, since January 2020, economic conditions have deteriorated sharply due to the rapidly spreading COVID-19 pandemic. Looking ahead, with economic activity in Japan and overseas stagnating as the pandemic spreads globally, it is necessary to closely monitor the risk of further downside in economic conditions and other factors.」
In addition to continued attention to overseas conditions and trade issues, the company explicitly identified the sharp deterioration in economic conditions and stagnation in domestic and overseas economic activity caused by COVID-19. - FY2020-Q3RestatedAnnual report
「However, attention must be paid to overseas conditions, including the EU withdrawal issue, the conduct of US economic policy and the impact of trade issues on the equity and foreign exchange markets.」
The company continues to identify the impact of trade issues on the equity and foreign exchange markets, along with the EU withdrawal issue and the conduct of US economic policy, as matters requiring attention regarding overseas conditions. - FY2020-Q2RestatedAnnual report
「However, attention must be paid to overseas conditions, including the EU withdrawal issue, the conduct of US economic policy and the impact of trade issues on the equity and foreign exchange markets.」
The company continues to identify the impact of trade issues on the equity and foreign exchange markets, along with the EU withdrawal issue and the conduct of US economic policy, as matters requiring attention regarding overseas conditions. - FY2020-Q1RestatedAnnual report
「However, attention must be paid to overseas conditions, including the EU withdrawal issue, the conduct of US economic policy and the impact of trade issues on the equity and foreign exchange markets.」
The company continues to identify the impact of trade issues on the equity and foreign exchange markets, along with the EU withdrawal issue and the conduct of US economic policy, as matters requiring attention regarding overseas conditions. - FY2019-Q3WorsenedAnnual report
「However, attention must be paid to overseas conditions, including the EU withdrawal issue, the conduct of US economic policy and the effects of trade issues, which have begun to emerge in the equity and foreign exchange markets.」
The company continues to cite the EU withdrawal issue, the conduct of US economic policy and trade issues as matters requiring attention, while noting that the effects of trade issues have begun to emerge in the equity and foreign exchange markets. - FY2019-Q2RestatedAnnual report
「Looking ahead, a gradual recovery is expected as improvements in employment and income conditions continue and the effects of various economic measures take hold. However, attention must be paid to overseas conditions, including the impact of trade issues on the global economy, the UK's EU withdrawal issue and the conduct of US economic policy.」
The company continues to indicate that attention should be paid to overseas conditions, including trade issues, the UK's EU withdrawal issue and the conduct of US economic policy. - FY2019-Q1WorsenedAnnual report
「Looking ahead, a gradual recovery is expected as improvements in employment and income conditions continue and the effects of various economic measures take hold. However, attention must be paid to overseas conditions, including the impact of trade issues on the global economy, the UK's EU withdrawal issue and the conduct of US economic policy.」
In addition to the UK's EU withdrawal issue and the conduct of US economic policy, which had previously been cited, the company identifies the impact of trade issues on the global economy as a new matter requiring attention. - FY2018RestatedAnnual report
「Attention must be paid to overseas conditions, including geopolitical risks, the UK's EU withdrawal issue and the conduct of US economic policy.」
The company continues to indicate that attention should be paid to overseas conditions, including geopolitical risks, the UK's EU withdrawal and the conduct of US economic policy. - FY2018-Q3RestatedAnnual report
「Looking ahead, a gradual recovery is expected as improvements in employment and income conditions continue and the effects of various economic measures take hold. However, attention must be paid to overseas conditions, including geopolitical risks, the UK's EU withdrawal issue and the conduct of US economic policy.」
The company continues to indicate that attention should be paid to overseas conditions, including geopolitical risks, the UK's EU withdrawal issue and the conduct of US economic policy. - FY2018-Q2WorsenedAnnual report
「Looking ahead, a gradual recovery is expected as improvements in employment and income conditions continue and the effects of various economic measures take hold. However, attention must be paid to overseas conditions, including geopolitical risks, the UK's EU withdrawal issue and the conduct of US economic policy.」
In addition to the UK's EU withdrawal issue and other previously cited factors, the company identifies geopolitical risks and the conduct of US economic policy as matters requiring attention regarding overseas conditions. - FY2018-Q1RestatedAnnual report
「Looking ahead, a gradual recovery is expected as improvements in employment and income conditions continue and the effects of various economic measures take hold. However, attention must be paid to overseas conditions, including the UK's EU withdrawal issue and the effects of the normalization of US monetary policy.」
The company continues to indicate that attention should be paid to overseas conditions, including the UK's EU withdrawal issue and the effects of the normalization of US monetary policy. - FY2017-Q3RestatedAnnual report
「There are also concerns about deteriorating corporate earnings resulting from uncertainty over overseas conditions, including the UK's EU withdrawal issue, the direction of the new US administration and slower economic growth in China.」
The company continues to cite uncertainty over overseas conditions, including the UK's EU withdrawal, the new US administration and the slowdown in China's economy, as risk factors. - FY2017-Q1WorsenedAnnual report
「There are also concerns about deteriorating corporate earnings resulting from uncertainty over overseas conditions, including the UK's EU withdrawal issue, the US presidential election and slower economic growth in China, as well as the yen's appreciation.」
In addition to the previously cited slowdown in China's economy and other factors, the company has broadened its concerns related to overseas conditions and foreign exchange to include the UK's EU withdrawal issue, the US presidential election and the yen's appreciation. - FY2016First statedAnnual report
「There are concerns that external factors, such as a slowdown in overseas economies, including slower economic growth in China, and lower crude oil prices, could weigh on economic conditions in Japan.」
This indicates that fluctuations in overseas economies and resource prices could affect domestic economic conditions and the company's business environment.