Downside Risks to the Economy from the Situation in Ukraine, High Raw Material Prices and Monetary Tightening
First written in FY2023-Q3. 7 of 11 entries say "Reframed", first in FY2024-Q3. Latest entry: FY2027-H1.
Pickles Holdings moved to the "Worse" side of this theme in 2024, 2 years after 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
「However, the outlook remains uncertain due to intermittent price increases and higher logistics and labor costs, as well as higher energy prices resulting from heightened tensions in the Middle East and rising prices for packaging materials and other items amid a naphtha shortage.」
The wording has changed from references to raw material and energy prices and U.S. tariff policy to identifying intermittent price increases, logistics and labor costs, the situation in the Middle East, and packaging-material prices driven by the naphtha shortage as uncertain external factors. - 2026-09-30ReframedEarnings
「However, the outlook remains uncertain due to intermittent price increases and higher logistics and labor costs, as well as higher energy prices resulting from heightened tensions in the Middle East and rising prices for packaging materials and other items amid a naphtha shortage.」
景気下振れ要因として、従来の物価上昇・物流費・人件費に加え、中東情勢、エネルギー価格、ナフサ不足及び包装資材価格の上昇を具体的に示している。 - FY2026-H1ReframedAnnual report
「However, the outlook remains uncertain, as continued inflation, higher logistics costs and labor costs, and developments in U.S. tariff policy are creating downside economic risks.」
In addition to previous factors such as raw-material and energy prices and volatility in financial markets, the company identifies continued inflation, higher logistics costs and labor costs, and U.S. tariff policy as factors driving downside economic risks. - FY2025-H1ReframedAnnual report
「However, the outlook for the economy remains uncertain due to the prolonged surge in raw-material and energy prices and the effects of volatility in financial and capital markets resulting from persistently high interest rates in Europe and the United States.」
In addition to the prolonged surge in raw-material and energy prices, volatility in financial and capital markets associated with continued high interest rates in Europe and the United States is identified specifically as a factor driving downside economic risks. - FY2025-Q1ReframedAnnual report
「However, the outlook remains uncertain as downside economic risks are a concern due to the prolonged surge in raw-material and energy prices and the effects of volatility in financial and capital markets.」
The wording has changed from specific references to the Ukraine situation and other factors to downside economic risks including the prolonged surge in raw-material and energy prices and volatility in financial and capital markets. - FY2024ReframedAnnual report
「However, the outlook remains uncertain due to downside risks to overseas economies and the prolonged impact of soaring raw-material and energy prices.」
The wording has changed from specific references to the Ukraine situation and monetary tightening to language focused on downside risks to overseas economies and the prolonged surge in raw-material and energy prices. - FY2024-Q3ReframedAnnual report
「During the first 3 quarters of the consolidated fiscal year, Japan’s economy continued on a gradual recovery path as economic activity normalized, although some areas showed signs of stagnation following the change in the classification of COVID-19 under the Infectious Diseases Control Law. However, the outlook remains uncertain due to downside economic risks arising from heightened geopolitical tensions and concerns about the outlook for China’s economy, as well as persistently high energy prices such as electricity and gasoline.」
The wording has changed from references to the Ukraine situation and monetary tightening to language identifying heightened geopolitical tensions, concerns about the outlook for China’s economy and persistently high energy prices as factors driving downside economic risks. - FY2024-Q2RestatedAnnual report
「However, the outlook remains uncertain due to the effects of monetary policies in countries around the world, including interest-rate increases in the United States, the prolonged situation in Ukraine, and rising energy prices such as electricity and gasoline.」
The company continues to describe uncertainty about the outlook arising from monetary policy, the Ukraine situation and rising energy prices. - FY2024-Q1RestatedAnnual report
「During the first quarter of the consolidated fiscal year, Japan’s economy showed a gradual recovery as the easing of behavioral restrictions related to COVID-19 drove the normalization of economic and social activity. However, the outlook remains uncertain due to the prolonged situation in Ukraine and soaring raw-material and energy prices.」
The company continues to identify uncertainty about the outlook caused by the prolonged situation in Ukraine and soaring raw-material and energy prices as a risk. - FY2023RestatedAnnual report
「During the consolidated fiscal year, Japan’s economy showed signs of recovery as economic and social activity moved toward normalization with the gradual easing of restrictions related to COVID-19. However, the outlook remains uncertain due to the prolonged situation in Ukraine, soaring raw-material and energy prices, and global monetary tightening.」
The company continues to identify the Ukraine situation, raw-material and energy prices, and monetary tightening as risks contributing to uncertainty about the outlook. - FY2023-Q3First statedAnnual report
「However, downside economic risks remain a concern due to the prolonged situation in Ukraine, soaring raw-material prices and global monetary tightening, and the outlook remains uncertain.」
The external environment is described as raising concerns about downside economic risks and an uncertain outlook.