Risk of Downward Pressure on the Economy from Weakness in Overseas Economies
First written in FY2017-Q1. 12 of 30 entries say "Restated". Latest entry: FY2027-H1.
Warabeya Nichiyo Holdings moved to the "Worse" side of this theme in 2021, 1 year before the typical company in this theme (2022).
The whole theme swung hardest in 2020: 25 of 36 companies on the "Worse" side.
13 other companies' latest entry also says "Reframed".
- FY2027-H1ReframedAnnual report
「At the same time, the outlook remains uncertain due to the impact of sustained inflation on consumer sentiment, the unstable situation in the Middle East and the risk of volatility in financial and capital markets.」
In addition to the previous sense of uncertainty about the outlook due to the unstable global situation and other factors, the unstable situation in the Middle East was specifically cited as an external environmental factor. - 2026-10-07WorsenedEarnings presentation
「Manufacturing costs increased further due to the newly incorporated impact of the situation in the Middle East, in addition to existing factors」
In addition to existing inflation and cost increases, the impact of the situation in the Middle East was explicitly identified as a factor reducing the earnings forecast, making the description of downward pressure from global conditions more specific. - FY2026RestatedAnnual report
「However, uncertainty about the outlook continues due to the potential impact of sustained price increases on consumer sentiment, prolonged unstable global conditions and the risk of volatility in financial and capital markets.」
The lack of visibility about the outlook caused by rising prices, prolonged unstable global conditions and the risk of volatility in financial and capital markets continues to be highlighted. - FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period under review, the Japanese economy was recovering moderately due to improvements in employment and income conditions, although personal consumption showed signs of stagnation in its recovery because of rising prices. In addition, uncertainty about the outlook continues amid future U.S. policy developments, prolonged unstable global conditions and the risk of volatility in financial and capital markets.」
While indicating a recovery driven by improved employment and income conditions, future U.S. policy developments have been explicitly identified as a source of uncertainty, in addition to the existing factors of rising prices, global conditions and volatility in financial and capital markets. - FY2025-H1ReframedAnnual report
「During the interim consolidated accounting period under review, the Japanese economy was recovering moderately due to improvements in employment and income conditions, although personal consumption showed signs of stagnation in its recovery. In addition, uncertainty about the outlook continues amid rising prices, prolonged unstable global conditions and the risk of volatility in financial and capital markets.」
The description of the economic environment has been organized around sources of uncertainty about the outlook, including stagnation in personal consumption despite a moderate recovery driven by improved employment and income conditions, rising prices and prolonged unstable global conditions. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, the Japanese economy showed signs of a moderate recovery, partly due to increased movement of people following the reclassification of COVID-19 as a Category V infectious disease. However, uncertainty about the outlook continues due to tense global conditions, rising prices and the risk of volatility in financial and capital markets.」
While indicating a recovery following the reclassification of COVID-19 as a Category V infectious disease, the lack of visibility about the outlook caused by global conditions, rising prices and the risk of volatility in financial and capital markets continues to be noted. - FY2024-Q1ReframedAnnual report
「During the cumulative first quarter under review, the Japanese economy showed signs of a moderate recovery, partly due to increased movement of people following the reclassification of COVID-19 as a Category V infectious disease. However, uncertainty about the outlook continues due to tense global conditions, rising prices and the risk of volatility in financial and capital markets.」
The wording has shifted from focusing on the economic deterioration caused by COVID-19 to indicating a recovery following its reclassification as a Category V infectious disease, while also highlighting uncertainty caused by tense global conditions, rising prices and the risk of volatility in financial and capital markets. - FY2023ReframedAnnual report
「During the consolidated fiscal year under review, the impact of the deterioration caused by COVID-19 eased, but uncertainty about the outlook persisted amid tense global conditions and sharp volatility in foreign exchange markets.」
While indicating that the impact of the deterioration caused by COVID-19 had eased, the wording has shifted to sources of uncertainty in the economic environment, including tense global conditions and sharp volatility in foreign exchange markets. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the deterioration caused by COVID-19 eased, but uncertainty about the outlook persisted due to geopolitical risks such as the situation in Ukraine and the rapid depreciation of the yen.」
While the impact of the deterioration caused by COVID-19 eased, the rapid depreciation of the yen was explicitly added to the existing geopolitical risks, leaving continued sources of uncertainty about the outlook. - FY2022WorsenedAnnual report
「The economic outlook is expected to remain uncertain because the timing of COVID-19 subsiding is still unforeseeable, geopolitical risks such as the situation in Ukraine remain, and higher raw-material and energy prices are a concern.」
In addition to the previous uncertainty caused by the pandemic, geopolitical risks such as the situation in Ukraine and higher raw-material and energy prices have been explicitly identified as new sources of uncertainty. - FY2022-Q3WorsenedAnnual report
「Although the number of cases had recently been declining, conditions remained unpredictable, partly because new variants had been identified.」
While declining case numbers and an economic recovery are noted, the identification of new variants is cited as indicating continued uncertainty about the pandemic subsiding and the economic environment. - FY2022-Q2ReframedAnnual report
「During the first half of the current second quarter, the Japanese economy showed signs of recovery, despite the continuing adverse impact of COVID-19, partly owing to progress in vaccinations and the effects of various government policies. However, the timing of the end of the infections remained uncertain, and conditions continued to warrant caution.」
While deterioration caused by COVID-19 continued, signs of recovery resulting from vaccinations and policy measures were added, and the description of the economic environment changed to one in which the timing of the pandemic's subsiding remains uncertain. - FY2022-Q1ReframedAnnual report
「During the cumulative first quarter under review, the Japanese economy showed signs of recovering from the deterioration caused by COVID-19, but conditions remained challenging as the timing of the pandemic's subsiding remained uncertain.」
The assessment has changed from the previous description of rapid deterioration and extremely challenging conditions caused by COVID-19 to one in which signs of recovery are present but the timing of the pandemic's subsiding remains uncertain. - FY2021WorsenedAnnual report
「In addition to the lack of signs that COVID-19 is subsiding, employment and income conditions continue to deteriorate as corporate earnings worsen, and the economic outlook is expected to remain uncertain.」
The lack of signs that the pandemic is subsiding and the deterioration in employment and income conditions have been explicitly stated, reinforcing the lack of visibility in the economic environment. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter under review, the Japanese economy showed signs of recovering from the deterioration caused by COVID-19, but conditions remained challenging, as the number of domestic cases was trending upward again and there was still no clear outlook for the pandemic to subside.」
In addition to the previous assessment that conditions remained challenging despite signs of recovery, the renewed upward trend in domestic cases and the lack of visibility regarding when the pandemic will subside have been explicitly stated. - FY2021-Q2ReframedAnnual report
「During the cumulative second quarter under review, the Japanese economy showed signs of recovering from the deterioration caused by COVID-19, although conditions remained challenging.」
The wording has changed from the first quarter's description of rapid deterioration to a description of continued challenging conditions despite signs of recovery. - FY2021-Q1ReframedAnnual report
「During the cumulative first quarter under review, the Japanese economy deteriorated rapidly due to the spread of COVID-19, and conditions remained extremely challenging.」
The central expression of economic-environment risk has shifted from the previous lack of visibility caused by uncertainty in overseas economies and volatility in financial and capital markets to the rapid deterioration of the domestic economy and the extremely challenging conditions caused by the spread of COVID-19. - FY2020ReframedAnnual report
「During the consolidated fiscal year under review, the Japanese economy continued on a moderate recovery path, but uncertainty about the outlook persisted due to rising tensions surrounding trade issues, volatility in financial and capital markets, and concerns about the impact of the spread of COVID-19 on the domestic and overseas economies.」
Concerns about the impact of the spread of COVID-19 on the domestic and overseas economies have been added to the previous lack of visibility caused by trade issues and volatility in financial and capital markets. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy continued on a moderate recovery path, but uncertainty about the outlook persisted due to rising tensions surrounding trade issues and the effects of volatility in financial and capital markets.」
The lack of visibility caused by rising tensions surrounding trade issues and volatility in financial and capital markets continues to be identified as a risk in the economic environment. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to heightened tensions over trade issues and volatility in financial and capital markets.」
Uncertainty surrounding overseas and trade issues and the lack of visibility caused by volatility in financial and capital markets continue to be cited as risks in the economic environment. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to uncertainty in overseas economies, including trade issues, and volatility in financial and capital markets.」
The company continues to identify uncertainty about the outlook due to overseas economic uncertainty, including trade issues, and volatility in financial and capital markets as an economic risk. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to uncertainty in overseas economies, including trade issues, and volatility in financial and capital markets.」
The company continues to identify uncertainty about the outlook, including overseas economic uncertainty and financial and capital market volatility, as an economic risk, together with trade issues. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to uncertainty in overseas economies and volatility in financial and capital markets.」
The company continues to identify uncertainty about the outlook due to uncertainty in overseas economies and volatility in financial and capital markets as an economic risk. - FY2018RestatedAnnual report
「The outlook remains uncertain due to uncertainty in overseas economies and volatility in financial and capital markets.」
The company also identifies uncertainty about the outlook due to uncertainty in overseas economies and volatility in financial and capital markets as a full-year factor. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to uncertainty in overseas economies and volatility in financial and capital markets.」
The company continues to cite uncertainty about the outlook due to uncertainty in overseas economies and volatility in financial and capital markets. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to uncertainty in overseas economies and volatility in financial and capital markets.」
The company continues to describe uncertainty about the outlook, including uncertainty in overseas economies and volatility in financial and capital markets, as part of the economic environment. - FY2017RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, but the outlook remained uncertain due to increasing uncertainty in overseas economies and volatility in financial and capital markets.」
The company reiterates uncertainty about the outlook, including uncertainty in overseas economies and volatility in financial and capital markets, as the economic environment for the full year. - FY2017-Q3ReframedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, supported by the government's economic policies and other factors, but the outlook remained uncertain due to increasing uncertainty in overseas economies and volatility in financial and capital markets.」
The wording has shifted from the previous reference to a "domestic economic slowdown due to weakness in overseas economies" to broader factors contributing to an uncertain outlook, including increasing uncertainty in overseas economies and volatility in financial and capital markets. It also states that there have been no material changes in business and other risks. - FY2017-Q2RestatedAnnual report
「Weakness in overseas economies and other factors pose a risk of putting downward pressure on Japan's economy, and the outlook remains uncertain.」
The company expresses the same view as previously regarding the risk of a domestic economic slowdown due to weakness in overseas economies. - FY2017-Q1First statedAnnual report
「Weakness in overseas economies and other factors pose a risk of putting downward pressure on Japan's economy, and the outlook remains uncertain.」
This is identified as an external risk to the outlook for the domestic economy.