Uncertainty over the outlook driven by personal consumption, foreign exchange rates and stock prices
First written in FY2017-Q1. 16 of 30 entries say "Worsened", first in FY2017-Q3. Latest entry: FY2026.
j-Group Holdings Corp. moved to the "Worse" side of this theme in 2020, 2 years before the typical company in this theme (2022).
The whole theme swung hardest in 2020: 40 of 57 companies on the "Worse" side.
37 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「However, uncertainty about the outlook has persisted due to developments in the foreign exchange market and US policy, rising energy prices, and continuing surges in raw material prices.」
In addition to energy prices and higher raw material costs, the report cited developments in the foreign exchange market and US policy as new sources of uncertainty about the outlook. - 2026-04-10WorsenedEarnings
「We expect continued uncertainty due to factors including the prolonged situation in Iran and U.S. policy developments, which could result in higher raw-material and resource prices and a worsening labor shortage.」
The prolonged situation in Iran was newly identified, alongside U.S. policy developments, as a source of uncertainty going forward. - FY2026-H1WorsenedAnnual report
「However, uncertainty about the outlook has persisted due to developments in the foreign exchange market and US policy, rising energy prices, and continuing surges in raw material prices.」
In addition to the previously cited rise in energy prices and higher raw material costs, the report specifically identified developments in the foreign exchange market and US policy as sources of uncertainty about the outlook. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period under review, Japan's economy continued to show signs of a gradual recovery as economic and social activity picked up, supported by a recovery in private consumption and increased inbound demand. However, uncertainty about the outlook has persisted due to rising energy prices, inflation accompanying the yen's depreciation, the prolonged situation in Russia and Ukraine, and the impact of monetary tightening.」
While noting an economic recovery driven by the recovery in private consumption and increased inbound demand, the report continues to cite energy prices, the yen's depreciation, the situation in Russia and Ukraine, and monetary tightening as sources of uncertainty about the outlook. - FY2025-Q1WorsenedAnnual report
「The outlook remains uncertain due to factors including higher energy prices, inflation associated with the weaker yen, the prolonged Russia-Ukraine situation and the impact of monetary tightening.」
In addition to the previously cited energy prices, the yen's depreciation and inflation, and the situation in Russia and Ukraine, the report specifically identified the impact of monetary tightening as a source of uncertainty about the outlook. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy saw the impact of COVID-19 gradually subside, and economic activity showed signs of recovery. However, uncertainty about the outlook has persisted due to rising energy prices, inflation accompanying the yen's depreciation, and the prolonged situation in Ukraine.」
While noting that the impact of the pandemic is subsiding and economic activity is recovering, the report continues to cite energy prices, the yen's depreciation and inflation, and the situation in Ukraine as sources of uncertainty about the outlook. - FY2023WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy is expected to see a recovery in personal consumption as restrictions on movement are eased. However, the outlook remains uncertain due to rising energy prices, price increases associated with the weak yen, and the prolonged situation in Ukraine.」
While expressing expectations for a recovery in personal consumption as restrictions on movement are eased, the company specifically identified rising energy prices, price increases caused by the weak yen, and the prolonged situation in Ukraine as sources of uncertainty. - FY2023-Q3WorsenedAnnual report
「During the first 9 months of the current consolidated fiscal year, the global economy showed signs of recovery as economic activity normalized, despite the impact of the renewed spread of COVID-19, and an economic recovery is expected. However, the outlook remains uncertain due to the prolonged invasion of Ukraine and sharply higher raw material prices.」
While expectations for a recovery following the normalization of economic activity were expressed, uncertainty about the outlook continues due to the renewed spread of infections, the prolonged invasion of Ukraine, and soaring raw material prices. - FY2023-Q2WorsenedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan’s economy showed signs of recovery as restrictions on activities related to the spread of COVID-19 were eased. However, the outlook remained uncertain due to the renewed spread of COVID-19, sharply higher crude oil and raw material prices, the continuing depreciation of the yen and the prolonged situation in Ukraine.」
While referring to a recovery in economic activity following the easing of restrictions on movement, the company identifies the renewed spread of infections, high crude oil and raw material prices, the weak yen, and the prolonged situation in Ukraine as new sources of uncertainty. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan’s economy saw signs of recovery as the severe conditions caused by COVID-19 eased and various policies took effect. However, new concerns for future economic activity have emerged, including higher raw material prices stemming from the situation in Ukraine and volatility in the financial and capital markets, leaving the outlook uncertain.」
While referring to an easing of the severe conditions caused by COVID-19, the company has added the situation in Ukraine and volatility in the financial and capital markets and other areas as new concerns for economic activity. - FY2022-Q3MitigatedAnnual report
「The state of emergency and priority preventive measures were lifted in September 2021, and economic activity has been gradually recovering. Although progress in vaccinations and the effects of various policies have raised expectations for a recovery, the outlook remains uncertain amid concerns about the risk of a renewed spread of infections.」
While noting a gradual recovery in economic activity following the lifting of the state of emergency and other measures, the company states that the risk of a renewed spread of infections and uncertainty about the outlook remain. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the recovery in corporate activity and personal consumption was delayed due to the impact of the re-expansion of COVID-19 and the reissuance of the state of emergency and other measures. The outlook remained uncertain due to downside risks to the domestic and overseas economies, including the risk of further deterioration because the timing of containment remained unclear.」
The company cites delays in the recovery of corporate activity and personal consumption and downside risks to the domestic and overseas economies due to the re-expansion of COVID-19 and the reissuance of the state of emergency and other measures. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy became extremely challenging, with a rapid economic deterioration due to stagnation in domestic personal consumption and economic activity against the backdrop of the spread of COVID-19.」
It is stated that the economy deteriorated rapidly due to stagnation in personal consumption and economic activity associated with COVID-19, resulting in an extremely challenging environment. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy remained uncertain, due to stagnation in domestic personal consumption and economic activity against the backdrop of the spread of COVID-19, in addition to intensifying US-China trade frictions and concerns about an economic slowdown in China.」
Intensifying US-China trade frictions, concerns about an economic slowdown in China, and stagnation in personal consumption and economic activity were specifically identified, and it was stated that uncertainty about the economic outlook persists. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy had continued to recover moderately against the backdrop of steady employment and income conditions and signs of a recovery in personal consumption, amid growing concerns about an economic slowdown due to US-China trade frictions. However, the Japanese economy deteriorated rapidly as the global economic risks associated with the spread of COVID-19 increased sharply, leaving domestic conditions challenging and the outlook uncertain.」
It is stated that global economic risks increased sharply due to the spread of COVID-19 and that Japan's economy also deteriorated rapidly. - FY2020WorsenedAnnual report
「In addition to the negative impact of the consumption tax increase on consumer sentiment, the environment remained extremely uncertain as the global spread of COVID-19 accelerated.」
In addition to the previous uncertainty caused by the consumption tax increase and overseas political developments, the global spread of COVID-19 was specifically identified, and the economic environment was described as extremely uncertain. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately against the backdrop of improved corporate performance and employment conditions. However, concerns about the impact of the consumption tax increase on consumer sentiment, together with overseas political developments, including the impact of US-China trade frictions and the UK's EU withdrawal, have increased uncertainty, and the economic outlook remains uncertain.」
In addition to the previous uncertainty in overseas political developments, the impact of the consumption tax increase on consumer sentiment and the impact of the UK's EU withdrawal were specifically identified, and uncertainty about the outlook was noted. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately against the backdrop of improved corporate performance and employment conditions. However, overseas political developments, including the impact of US-China trade frictions, have become increasingly uncertain, and the economic outlook remains uncertain.」
While referring to the moderate recovery trend in the domestic economy, the company has reconfirmed the uncertainty in overseas political developments and the uncertain economic outlook due to US-China trade frictions and other factors. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately against the backdrop of improved corporate performance and employment conditions. However, overseas political developments, including the impact of US-China trade frictions, have become increasingly uncertain, and the economic outlook remains uncertain.」
While referring to the moderate recovery trend in the domestic economy, the company has reconfirmed that uncertainty in overseas political developments and uncertainty about the economic outlook persist due to US-China trade frictions and other factors. - FY2019WorsenedAnnual report
「Overseas political developments, including the impact of US-China trade frictions and the UK's EU withdrawal issue, have become increasingly uncertain, and the economic outlook remains uncertain.」
In addition to the previous uncertainty surrounding overseas political and economic developments, US-China trade frictions were specifically identified, and it was stated that uncertainty surrounding overseas conditions is increasing. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately as corporate performance and employment conditions improved. However, overseas political and economic developments remained uncertain.」
The company has reconfirmed both the moderate recovery trend in the domestic economy and uncertainty about the outlook for overseas political and economic developments. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately as corporate performance and employment conditions improved. However, overseas political and economic developments remained uncertain.」
While citing the moderate recovery trend in the domestic economy, the company has reconfirmed that uncertainty surrounding the outlook for overseas political and economic developments persists. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately as corporate performance and employment conditions improved. However, overseas political and economic developments remained uncertain.」
While citing the moderate recovery trend in the domestic economy, the company has reconfirmed that overseas political and economic developments are expected to remain uncertain. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately, with improvements in corporate earnings and capital investment and signs of a recovery in personal consumption. However, the outlook remained uncertain amid growing uncertainty in the global economy.」
The company continues to cite both the recovery trend in the domestic economy and uncertainty about the outlook due to uncertainty in the global economy. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately, with improvements in corporate earnings and capital investment and signs of a recovery in personal consumption. However, the outlook remained uncertain amid growing uncertainty in the global economy.」
The company continues to cite both the recovery trend in the domestic economy and uncertainty about the outlook due to uncertainty in the global economy. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy continued to recover moderately, with improvements in corporate earnings and capital investment and signs of a recovery in personal consumption. However, the outlook remained uncertain amid growing uncertainty in the global economy.」
While referring to the recovery trend in the domestic economy, the company continues to cite uncertainty about the outlook due to uncertainty in the global economy. - FY2017RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy showed improved corporate earnings against the backdrop of the government's economic policies. However, the outlook remained uncertain due to concerns about the global economy arising from the UK's EU withdrawal issue and the transition of the US administration.」
While referring to improved corporate earnings, the company has reconfirmed uncertainty about the outlook due to the UK's EU withdrawal issue and the transition of the US administration. - FY2017-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy showed signs of a moderate recovery due to improvements in employment and income conditions. However, the outlook remained uncertain due to concerns about the global economy arising from the UK's EU withdrawal issue and the transition of the US administration.」
Regarding uncertainty about the outlook, the company identifies concerns about the global economy arising from the UK's EU withdrawal issue and the transition of the US administration as new factors, in addition to the previous economic and consumer-related factors. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy showed signs of a moderate recovery due to improvements in employment conditions and higher real wages. However, the outlook for consumer sentiment remained uncertain due to falling stock prices caused by concerns over an economic slowdown overseas, poor performance among exporting companies due to the stronger yen, and consumers' preference for thrift amid concerns about the future.」
While referring to the economic recovery, the company continues to cite uncertainty surrounding consumer sentiment due to the overseas economic slowdown, falling stock prices, the stronger yen, poor performance among exporting companies, and consumers' preference for thrift. - FY2017-Q1First statedAnnual report
「Although the economy continued to recover moderately, uncertainty about the outlook persisted due to unstable foreign exchange markets, falling stock prices, and the postponement of the consumption tax rate increase.」
While recognizing the economic recovery trend, the company recognizes uncertainty about the outlook due to foreign exchange rates, stock prices, and the postponement of the consumption tax rate increase.