Macroeconomic environment risk from stagnant domestic personal consumption, stock price and foreign exchange instability, and slowing emerging-market economies
First written in FY2017-Q3. 10 of 27 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-07-31.
Shinyei Kaisha moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2019: 101 of 178 companies on the "Worse" side.
66 other companies' latest entry also says "Worsened".
- 2026-07-31WorsenedEarnings
「一方で、円安や原油価格の動向を背景とした輸入コストの上昇、人件費や物流コストの増加に加え、米国通商政策や中東情勢を巡る不確実性などから、先行き不透明な状況が継続しました。」
円安、原油価格、輸入コスト、人件費・物流費に加え、米国通商政策と中東情勢を巡る不確実性が継続している。 - FY2026WorsenedAnnual report
「Japan's economy continued to recover gradually, supported by firm capital investment and inbound demand. However, the situation remained uncertain as import costs rose due to persistently high raw material prices and the impact of the prolonged depreciation of the yen, while personnel and logistics costs continued to increase. Concerns also intensified that developments in U.S. trade policy and heightened tensions in the Middle East could weigh on economic activity.」
While capital investment and inbound demand supported recovery, concerns intensified over the economic drag from high raw material costs, the prolonged depreciation of the yen, rising personnel and logistics costs, U.S. trade policy, and the situation in the Middle East. - 2026-05-14WorsenedEarnings
「In addition to higher import costs, affected by persistently high raw material costs and the long-term trend of yen depreciation, labour and logistics costs also continued to rise. Concerns increased that developments in US trade policy and heightened tensions in the Middle East could weigh on economic activity, and uncertainty nevertheless continued.」
原材料費、円安、輸入コスト、人件費、物流コストに加え、米国通商政策と中東情勢による景気下押し懸念が示された。 - FY2026-H1WorsenedAnnual report
「Japan's economy continued to recover gradually, supported by firm capital investment and inbound demand. However, the situation remained uncertain as import costs rose due to persistently high raw material prices and the impact of the prolonged depreciation of the yen, while personnel and logistics costs continued to increase. Concerns also intensified that developments in U.S. trade policy could weigh on economic activity.」
While capital investment and inbound demand supported recovery, concerns intensified over the economic drag from high raw material costs, the prolonged depreciation of the yen, rising personnel and logistics costs, and U.S. trade policy. - FY2025-H1RestatedAnnual report
「Japan's economy remained uncertain. Capital investment continued to trend upward, inbound demand expanded, and consumer spending remained on a moderate recovery path. Meanwhile, import costs rose due to persistently high raw material prices and the impact of the weaker yen, concerns over higher crude oil prices intensified, and personnel and logistics costs continued to increase.」
While capital investment, inbound demand, and consumer spending provided support for recovery, high raw material costs, the weaker yen, concerns over higher crude oil prices, and rising personnel and logistics costs coexisted, and the uncertain macroeconomic environment persisted. - FY2024RestatedAnnual report
「Japan's economy remained uncertain. Capital investment continued to trend upward, consumer spending continued to recover gradually as activity restrictions imposed to combat COVID-19 were lifted, and inbound demand also continued to recover. Meanwhile, inflationary pressures intensified as import costs rose due to persistently high resource and raw material prices and the impact of the weaker yen, while personnel and logistics costs also continued to increase.」
Recovery in consumer spending, inbound demand, and capital investment continued to coexist with inflationary pressures from high resource and raw material costs, the weaker yen, and rising import, personnel, and logistics costs. - FY2024-Q2Recovery in consumer spending and inbound demand coexists with inflationary pressuresAnnual report
「Japan's economy remained in a difficult situation. Capital investment continued to trend upward, consumer spending continued to recover gradually as activity restrictions imposed to combat COVID-19 were lifted, and inbound demand also continued to recover. Meanwhile, inflationary pressures intensified as import costs rose due to higher resource and raw material prices and the weaker yen, while personnel and logistics costs also continued to increase.」
Capital investment, consumer spending, and inbound demand continued to recover, while inflationary pressures from high resource and raw material costs, the weaker yen, and rising wage and logistics costs persisted. - FY2024-Q1Recovery in consumer spending and inbound demand coexists with inflationary pressuresAnnual report
「Japan's economy remained in a difficult situation. Capital investment continued to trend upward, and consumer spending and inbound demand continued to recover as activity restrictions imposed to combat COVID-19 were lifted. Meanwhile, inflationary pressures intensified as import costs rose due to higher resource and raw material prices and the weaker yen, while wage and logistics costs also continued to increase.」
Capital investment, consumer spending, and inbound demand continued to recover, while inflationary pressures intensified due to high resource and raw material costs, the weaker yen, rising wages, and higher logistics costs, leaving positive and negative factors coexisting in the domestic macroeconomic environment. - FY2023-Q3RestatedAnnual report
「Japan's economy remained in a difficult situation. Capital investment continued to trend upward, and consumer spending showed signs of recovery as activity restrictions imposed to combat COVID-19 were eased. Meanwhile, import costs rose as surging crude oil and raw material prices were compounded by a sharp depreciation of the yen, and logistics costs also continued to increase, intensifying inflationary pressures.」
While capital investment and consumer spending showed signs of recovery, the challenging macroeconomic environment persisted due to high crude oil and raw material costs, the sharp depreciation of the yen, and rising import and logistics costs. - FY2023-Q2Demand recovery coexists with rising costsAnnual report
「Japan's economy remained in a difficult situation. Capital investment continued to trend upward, and consumer spending showed signs of recovery as activity restrictions imposed to combat COVID-19 were eased. However, import costs rose as surging crude oil and raw material prices were compounded by a sharp depreciation of the yen, while logistics costs also continued to increase.」
Capital investment and consumer spending showed signs of recovery, while high crude oil and raw material costs, disruption to international transportation, and higher import costs caused by the sharp depreciation of the yen continued, leaving positive and negative factors coexisting in the domestic macroeconomic environment. - FY2023-Q1MitigatedAnnual report
「Japan's economy remained in a difficult situation. Exports and capital investment continued to trend upward, and consumer spending showed signs of recovery as activity restrictions imposed to combat COVID-19 were eased. However, surging crude oil prices and raw material costs, disruption to international transportation, and a sharp depreciation of the yen caused import costs to rise.」
Exports and capital investment continued to trend upward, and consumer spending recovered as activity restrictions were eased, indicating some easing in the demand-side macroeconomic environment. Cost increases, however, continued separately. - FY2022-Q3MitigatedAnnual report
「Japan's economy saw exports and capital investment remain on an upward trend despite temporary weakness. As vaccination became more widespread and activity restrictions were eased, accommodation and food services also showed signs of recovery, and consumer spending showed signs of recovery as well.」
Exports and capital investment continued to trend upward, while accommodation and food services and consumer spending showed signs of recovery as activity restrictions were eased. Domestic macroeconomic risk has eased somewhat. - FY2022-Q1Exports and capital investment recover, but consumer spending remains unevenAnnual report
「Japan's economy also remained in a difficult situation. Exports continued to trend upward as economic activity resumed in various countries, and capital investment in the manufacturing sector began to increase as earnings conditions improved. However, the divergence in corporate earnings became pronounced: manufacturing earnings continued to improve, while accommodation and food services remained under pressure. Consumer spending also continued to fluctuate due to the impact of activity restrictions.」
Exports and manufacturing capital investment recovered, while divergence in corporate earnings, difficult conditions in accommodation and food services, and fluctuations in consumer spending due to activity restrictions continued. - FY2021-Q3WorsenedAnnual report
「Exports, which had declined due to a slowdown in the global economy, were recovering as economic activity resumed in various countries. However, consumer spending, which had recovered after the lifting of requests for business closures and restrictions on going outdoors amid the spread of COVID-19, showed signs of weakening again as infections resurged. Corporate earnings deteriorated and capital investment declined as a result, and difficult conditions continued.」
While exports were recovering as economic activity resumed in various countries, consumer spending weakened again as infections resurged. Corporate earnings continued to deteriorate, as did capital investment, and the challenging domestic macroeconomic environment persisted and intensified. - FY2021-Q2Consumer spending and exports recover, but corporate earnings and capital investment deteriorateAnnual report
「Japan's economy was also in a difficult situation. Consumer spending, which had deteriorated following requests for business closures and restrictions on going outdoors amid the spread of COVID-19, showed signs of recovery, while exports, which had declined due to a slowdown in the global economy, were also recovering as economic activity resumed in Europe and the United States. However, corporate earnings deteriorated and capital investment declined as a result, and difficult conditions continued.」
While consumer spending and exports showed signs of recovery, worsening corporate earnings and declining capital investment were newly identified, and the challenging domestic macroeconomic environment continued. - FY2021-Q1WorsenedAnnual report
「The Japanese economy remained in a difficult situation as personal consumption deteriorated rapidly in response to requests to suspend business operations and refrain from going out due to the spread of COVID-19, exports declined as the global economy slowed, and corporate earnings also worsened.」
The previous concerns over consumer spending, exports, and corporate earnings materialized as a rapid deterioration in consumer spending, lower exports, and worsening corporate earnings following the spread of COVID-19. - FY2020WorsenedAnnual report
「Japan's economy had remained on a moderate recovery path, but concerns emerged over the serious impact of the spread of the novel coronavirus infection.」
In addition to concerns over consumer spending, exports, and industrial production, the serious impact of the spread of the novel coronavirus infection on the domestic economy was explicitly identified. - FY2020-Q3RestatedAnnual report
「Japan's economy remained on a moderate recovery path, with employment conditions improving and consumer spending continuing to recover gradually despite the impact of the consumption tax increase. Meanwhile, exports and industrial production were weakening, and concerns remained over the impact of developments in U.S. trade policy.」
While consumer spending continued to recover gradually, exports and industrial production remained weak, and concerns over U.S. trade policy persisted. - FY2020-Q1WorsenedAnnual report
「Japan's economy remained on a moderate recovery path, with employment conditions continuing to improve and consumer spending recovering gradually, but exports and industrial production were weakening, and concerns remained over the impact of developments in U.S. trade policy.」
While consumer spending remained on a recovery path, weakness in exports and industrial production was newly cited, and concerns over the impact of U.S. trade policy persisted. - FY2019-Q3RestatedAnnual report
「Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve. Consumer spending also showed signs of recovery, but concerns remained over the impact of developments in U.S. trade policy.」
While consumer spending showed signs of recovery, concerns over uncertainty arising from developments in U.S. trade policy persisted. - FY2019-Q2RestatedAnnual report
「Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve. Consumer spending also showed signs of recovery, but concerns remained over the impact of developments in U.S. trade policy.」
While consumer spending showed signs of recovery, concerns over uncertainty arising from developments in U.S. trade policy persisted. - FY2019-Q1WorsenedAnnual report
「Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve. Consumer spending also showed signs of recovery, but concerns remained over the impact of developments in U.S. trade policy.」
While consumer spending showed signs of recovery, developments in U.S. trade policy were identified as a new source of uncertainty. - FY2018-Q3RestatedAnnual report
「Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve. Consumer spending also showed signs of recovery, but the outlook remained uncertain, and concerns remained over the impact of uncertainty in overseas economies and rising geopolitical risks.」
While consumer spending showed signs of recovery, uncertainty over the outlook, uncertainty in overseas economies, and concerns over geopolitical risks persisted. - FY2018-Q2Consumer spending shows signs of recovery, but uncertainty persistsAnnual report
「Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve. Consumer spending also showed signs of recovery, but the outlook remained uncertain, and concerns remained over the impact of uncertainty in overseas economies and rising geopolitical risks.」
While consumer spending showed signs of recovery, uncertainty over the outlook, uncertainty in overseas economies, and concerns over geopolitical risks persisted. - FY2018-Q1WorsenedAnnual report
「Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve, but consumer spending remained sluggish, and concerns also remained over the impact of uncertainty in overseas economies and rising geopolitical risks.」
In addition to the previous concerns over stagnant consumer spending and slowing overseas economies, uncertainty in overseas economies and rising geopolitical risks were explicitly identified. - FY2017RestatedAnnual report
「Meanwhile, Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve, but concerns remained over the impact of unstable equity and foreign-exchange markets, prolonged stagnation in consumer spending, and slowing economic growth in emerging economies, particularly China.」
Concerns over prolonged stagnation in domestic consumer spending, unstable equity and foreign-exchange markets, and slowing emerging-market economies were also cited for the full fiscal year. - FY2017-Q3First statedAnnual report
「Meanwhile, Japan's economy was on a moderate recovery path, with corporate earnings and employment conditions continuing to improve, but concerns remained over the impact of unstable equity and foreign-exchange markets, prolonged stagnation in consumer spending, and slowing economic growth in emerging economies, particularly China.」
The prolonged stagnation in domestic consumer spending, unstable equity and foreign-exchange markets, and the impact of slowing emerging-market economies were identified for the first time as a macroeconomic environment separate from existing regional and business-specific risks.