Concerns over a downturn in emerging-market economies and uncertainty over the economic outlook
First written in FY2017-Q1. 22 of 35 entries say "Restated". Latest entry: FY2027-H1.
Karula moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
56 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「Meanwhile, the outlook for the economy remains uncertain, as elevated prices resulting from heightened international tensions, including the situation in the Middle East, and the continued weakening trend of the yen have persisted. Consumers also continue to show a strong preference for saving.」
The company continues to point to uncertainty over the economic outlook stemming from heightened international tensions, yen depreciation, elevated prices, and consumers' preference for saving. - FY2026-H1RestatedAnnual report
「Meanwhile, higher raw material and logistics costs show no signs of abating due to uncertainty in international affairs and the continuing trend toward yen depreciation, and conditions remain challenging.」
The company continues to point to a challenging economic environment due to uncertainty in international affairs, the trend toward yen depreciation, and higher raw material and logistics costs. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period under review, social and economic activity continued to normalize due to a recovery in domestic demand, and the economy showed signs of recovery. However, raw material costs have remained persistently high due to the prolonged situation in Russia and Ukraine, heightened tensions in the Middle East, and instability in the foreign exchange market, and conditions remain challenging.」
The company indicates a recovery in domestic demand and normalization of social and economic activity, while continuing to disclose a challenging outlook due to the situation in Russia and Ukraine, the situation in the Middle East, instability in the foreign exchange market, and higher raw material costs. - FY2025-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy showed signs of recovery as social and economic activity normalized, supported by increased personal consumption and the effects of various policies. However, raw material costs have remained persistently high due to the prolonged situation in Russia and Ukraine, heightened tensions in the Middle East, and the impact of the persistent depreciation of the yen, and the challenging environment continues.」
The company indicates that social and economic activity is normalizing, while continuing to disclose uncertainty over the outlook due to the situation in Ukraine, the situation in the Middle East, the weaker yen, and higher raw material costs. - FY2024WorsenedAnnual report
「Meanwhile, higher raw material and resource prices have remained elevated for an extended period due to armed conflicts in the Middle East and Russia's invasion of Ukraine. Further price increases are also a concern amid global inflation and the normalization of yen depreciation, and the economic outlook remains uncertain.」
In addition to the situation in Ukraine, the weaker yen and higher prices, the company cites conditions in the Middle East and global inflation, expanding the sources of uncertainty. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, various restrictions related to COVID-19 were eased, social activity and consumer activity picked up, and the domestic economy moved toward a moderate recovery. Meanwhile, higher raw material and resource prices continued for an extended period due to the prolonged situation in Ukraine following Russia's invasion, while the weaker yen and global monetary tightening also persisted, leaving the economic outlook uncertain.」
The company indicates a pickup in social and consumer activity and a recovery in the domestic economy, while continuing to disclose uncertainty over the outlook due to the situation in Ukraine, the weaker yen, monetary tightening, and higher raw material and resource prices. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, the reclassification of COVID-19 to Category V under Japan's Infectious Diseases Act in May 2023 eased restrictions on activities, stimulating consumption and moving the domestic economy toward normalization. Meanwhile, higher raw material and resource prices continued due to the depreciation of the yen in the foreign exchange market and the prolonged situation in Ukraine following Russia's invasion, and the economic outlook remained uncertain.」
The company indicates that the domestic economy is normalizing as restrictions on activities are eased and consumption picks up, while continuing to disclose uncertainty stemming from the weaker yen, the situation in Ukraine, and higher raw material and resource prices. - FY2024-Q1Economic normalization coexists with uncertain factorsAnnual report
「During the cumulative first quarter under review, as the impact of COVID-19 was subsiding, the disease was reclassified to Category V under Japan's Infectious Diseases Act in May 2023, leading to increased foot traffic and inbound visitors in Japan. Economic activity gradually picked up and the domestic economy moved toward normalization. Meanwhile, energy resource prices, including crude oil, and raw material prices continued to rise due to geopolitical risks such as Russia's invasion of Ukraine and the impact of the weaker yen, and the economic outlook remained uncertain.」
The company indicates that the end of the pandemic, the reclassification to Category V, and the increase in foot traffic and inbound visitors are driving economic normalization, while also citing uncertainty from geopolitical risks, the weaker yen, and higher energy resource and raw material prices. - FY2023Economic recovery coexists with uncertain factorsAnnual report
「The lifting of priority preventive measures in March 2022, together with the effects of various measures implemented by the government and local authorities to bring the prolonged COVID-19 pandemic under control, led to a gradual recovery in corporate activity and personal consumption. However, in addition to the impact of higher raw material prices following Russia's invasion of Ukraine and rising prices exacerbated by the rapid depreciation of the yen, further increases in energy resource prices, including crude oil, and raw material prices are a concern, and the outlook remains uncertain amid an expected challenging business environment.」
While indicating a recovery in corporate activity and personal consumption, the company also cites uncertainty stemming from the situation in Ukraine, the weaker yen, and higher prices of goods and energy. - FY2023-Q3WorsenedAnnual report
「However, the economic outlook remains uncertain due to the rapid spread of infections during the seventh wave from July onward and the eighth wave from November onward, as well as volatility in financial and capital markets, a sharp depreciation of the yen, and the resulting surge in energy resource prices, including crude oil, and raw material prices amid geopolitical risks such as Russia's invasion of Ukraine.」
In addition to the seventh wave, the company cites the eighth wave, volatility in financial and capital markets and the sharp depreciation of the yen, expanding the sources of uncertainty. - FY2023-Q2WorsenedAnnual report
「However, the economic outlook remains uncertain due to the rapid spread of infections during the seventh wave from July onward, volatility in financial and capital markets caused by global monetary tightening, and the resulting surge in energy resource prices, including crude oil, and raw material prices amid geopolitical risks such as Russia's invasion of Ukraine.」
In addition to overseas conditions and the pandemic, the company identifies the seventh wave, market volatility caused by global monetary tightening, geopolitical risks, and higher energy and raw material prices as sources of uncertainty. - FY2023-Q1WorsenedAnnual report
「Furthermore, energy resources, including crude oil, and raw material prices have soared because of geopolitical risks such as Russia’s invasion of Ukraine. Further price increases are a concern given expectations for a weaker yen, and the outlook for the economy remains uncertain.」
In addition to the existing external-environment risks from uncertainty surrounding overseas political and economic conditions, geopolitical risks such as Russia's invasion of Ukraine and expectations for a weaker yen have emerged as new sources of uncertainty. - FY2022WorsenedAnnual report
「During the fiscal year under review, Japan's economy was affected by the prolonged COVID-19 pandemic, and corporate activity and personal consumption remained extremely challenging as states of emergency were repeatedly declared and priority preventive measures were repeatedly applied across the country.」
The company explains that, in addition to the existing uncertainty in the economic environment, the pandemic, states of emergency and priority preventive measures have left corporate activity and personal consumption extremely challenging. - FY2022-Q3Positive factors and challenging conditions coexistAnnual report
「During the cumulative third quarter under review, the government repeatedly issued states of emergency in response to the resurgence of COVID-19, while local governments intermittently requested that people refrain from nonessential and nonurgent outings under priority preventive measures, and requested that restaurants and other establishments close or shorten their operating hours. Corporate activity and personal consumption therefore remained extremely challenging. Meanwhile, as the number of infections has been declining with the rise in vaccination rates, restrictions on social and economic activity have gradually been eased and an economic recovery is expected, although progress has been very slow.」
While corporate activity and personal consumption remain extremely challenging, the company also notes the easing of restrictions and expectations for an economic recovery as vaccination rates rise. - FY2022-Q2RestatedAnnual report
「However, the situation remains unpredictable due to the spread of virus variants and other factors, and as the end of the pandemic remains difficult to foresee, the challenging economic environment is expected to continue.」
The company continues to indicate that the challenging economic environment will persist, citing the spread of virus variants and the lack of visibility on the end of the pandemic. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter under review, in response to the spread of COVID-19, the government repeatedly issued states of emergency, while local governments intermittently requested that people refrain from nonessential and nonurgent outings under priority preventive measures, and requested that restaurants and other establishments close or shorten their operating hours. However, the situation remains unpredictable due to the spread of variants and other factors, and as the end of the pandemic remains difficult to foresee, the challenging economic environment is expected to continue.」
The company continues to indicate that the challenging economic environment will persist, citing states of emergency, requests to refrain from going out and requests for business closures, as well as the spread of virus variants and the lack of visibility on the end of the pandemic. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, the spread of COVID-19 and the resulting stagnation in economic activity continued, significantly affecting personal consumption and employment. As the end of the pandemic remains difficult to foresee, the challenging economic environment is expected to continue.」
The company indicates that the spread of COVID-19 and stagnation in economic activity continue, affecting personal consumption and employment, and that the challenging economic environment will persist. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan's economy remained unstable due to uncertainty surrounding overseas political and economic conditions and rising prices of goods and services in Japan. In addition, the spread of COVID-19 worldwide has worsened the economic outlook.」
The company indicates that the economic outlook has deteriorated due to the spread of COVID-19, in addition to the existing instability stemming from overseas conditions and domestic price increases. - FY2020RestatedAnnual report
「Uncertainty surrounding overseas political and economic conditions is expected to continue, and the outlook for the economy remains highly uncertain due to last year's consumption tax increase and the introduction of the reduced tax rate.」
The company continues to point to uncertainty over the economic outlook due to uncertainty surrounding overseas political and economic conditions and the consumption tax increase and reduced tax rate. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy remained unstable due to uncertainty surrounding overseas political and economic conditions and rising prices of goods and services in Japan.」
The company continues to point to instability in the economic environment due to uncertainty surrounding overseas political and economic conditions and rising domestic prices. - FY2020-Q2Domestic price increases addedAnnual report
「During the cumulative second quarter under review, Japan's economy remained unstable due to uncertainty surrounding overseas political and economic conditions and rising prices of goods and services in Japan.」
In addition to uncertainty surrounding overseas political and economic conditions, the company continues to identify rising domestic prices of goods and services as a destabilizing factor. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy continued to expand moderately, supported by a recovery in personal consumption against a backdrop of improved corporate earnings and employment and income conditions. However, the situation remained unstable due to uncertainty surrounding overseas political and economic conditions.」
The company acknowledges improvements in the domestic economy and personal consumption while continuing to disclose instability stemming from uncertainty surrounding overseas political and economic conditions. - FY2019Specification of destabilizing factorsAnnual report
「In overseas economies, destabilizing factors include intensifying trade friction and the risk of a slowdown in the Chinese economy. In Japan, personal consumption is expected to remain uncertain due to the consumption tax increase scheduled for October.」
The company identifies trade friction, a slowdown in the Chinese economy and the consumption tax increase as specific destabilizing factors underlying the previously cited uncertainty surrounding overseas political and economic conditions. - FY2019-Q3Expansion of destabilizing factorsAnnual report
「During the cumulative third quarter under review, Japan's economy continued to expand moderately, supported by improved corporate earnings and employment and income conditions. However, the situation remained unstable due to uncertainty surrounding overseas political and economic conditions and rising prices of goods and services in Japan.」
The company identifies overseas political and economic conditions and rising domestic prices of goods and services as destabilizing factors, broadening the scope of its discussion of the external environment. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy continued to expand moderately, supported by improved corporate earnings and a recovery in personal consumption against a backdrop of improving employment and income conditions. However, the situation remained unstable due to uncertainty surrounding overseas political and economic conditions.」
The company acknowledges improvements in the domestic economy and personal consumption while continuing to disclose instability stemming from uncertainty surrounding overseas political and economic conditions. - FY2019-Q1RestatedAnnual report
「The situation remains unstable due to uncertainty surrounding overseas political and economic conditions.」
The company continues to disclose instability in the external environment due to uncertainty surrounding overseas political and economic conditions. - FY2018RestatedAnnual report
「The situation remains unstable due to uncertainty surrounding overseas political and economic conditions.」
The company continues to point to uncertainty in the external environment stemming from overseas political and economic conditions. - FY2018-Q3RestatedAnnual report
「In the food service industry, consumer sentiment has shown signs of recovery. However, the operating environment remains challenging amid growing uncertainty over the global economic outlook, including the North Korea issue and instability under the Trump administration.」
The company acknowledges the recovery in consumer sentiment while continuing to point to a challenging operating environment against a backdrop of international affairs and uncertainty over the global economic outlook. - FY2018-Q1RestatedAnnual report
「The global economic outlook has become increasingly uncertain due to developments under the Trump administration and the UK's withdrawal from the EU, among other factors.」
Although the sources of uncertainty have expanded from emerging-market economies to the global economy and international affairs, the theme of uncertainty over the economic and business outlook continues. - FY2017RestatedAnnual report
「Given the growing impact of uncertainty in overseas economies, the economy can be described as being at a standstill.」
Although the discussion has broadened from emerging-market economies to overseas economies generally, the company continues to point to uncertainty in the external economic environment. - FY2017-Q3RestatedAnnual report
「Personal consumption remains sluggish, and concerns over a downturn in emerging-market economies have added to the uncertainty over the economic outlook.」
The company continues to point to uncertainty over the economic outlook against a backdrop of sluggish personal consumption and concerns over a downturn in emerging-market economies. - FY2017-Q2RestatedAnnual report
「Amid concerns over a downturn in emerging-market economies, the economic outlook remains uncertain, with greater instability in stock prices and foreign exchange rates.」
The company continues to point to uncertainty over the economic outlook against a backdrop of emerging-market economies and instability in stock prices and foreign exchange rates. - FY2017-Q1First statedAnnual report
「Amid concerns over a downturn in emerging-market economies, uncertainty over the economic outlook continues.」
The company indicates that the economic outlook remains uncertain due to the external economic environment.