Heightened Geopolitical Risks from the North Korea Issue and Terrorism
First written in FY2018-Q2. 9 of 14 entries say "Worsened", first in FY2019-Q2. Latest entry: 2026-05-14.
Kurabo Industries moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
76 other companies' latest entry also says "Worsened".
- 2026-05-14WorsenedEarnings
「In addition, difficulties in procuring imported raw materials and fuels and higher prices resulting from escalating tensions in the Middle East could have a significant impact on corporate earnings and economic activity.」
Geopolitical risk was described as the possibility that escalating tensions in the Middle East could affect corporate earnings and economic activity through difficulties in procuring imported raw materials and fuels and higher prices. - FY2026-H1WorsenedAnnual report
「Meanwhile, amid persistent concerns about geopolitical risks, including prolonged conflicts in the Middle East and Ukraine, instability continued as the impact of U.S. tariff policy began to spread to the global economy.」
With respect to geopolitical risks, the prolonged conflicts in the Middle East and Ukraine, as well as the impact of US tariff policy on the global economy, were identified. - FY2025-H1WorsenedAnnual report
「Meanwhile, amid growing concerns about geopolitical risks, including the prolonged Russia-Ukraine war and escalating conflicts in the Middle East, uncertainty continued due to concerns about China's economic outlook and instability in financial markets.」
The prolonged Russia-Ukraine war, escalating conflict in the Middle East, concerns about the outlook for the Chinese economy and instability in financial markets were identified as new sources of uncertainty. - FY2024WorsenedAnnual report
「On the external-demand front, concerns include the impact on logistics and resource prices resulting from weakness in the Chinese economy and heightened tensions in the Middle East.」
With respect to geopolitical risks, in addition to the situation involving Russia and Ukraine, heightened tensions in the Middle East and their impact on logistics and resource prices were explicitly stated. - FY2024-Q1WorsenedAnnual report
「At the same time, concerns about geopolitical risks, including the prolonged Russia-Ukraine situation, remained unresolved. The outlook also remained uncertain due to concerns about a global economic downturn resulting from rising prices and the impact of monetary policy in the United States and Europe.」
The prolonged nature of the situation in Ukraine was explicitly stated, while rising prices, monetary policy and concerns about a global recession were also added. Uncertainty in the geopolitical and economic environment continues. - FY2022WorsenedAnnual report
「Regarding Japan's future economic conditions, the outlook remains highly uncertain due to concerns over a renewed spread of novel coronavirus infections caused by new variants, as well as disruption to the global economy resulting from the situation in Ukraine.」
In addition to trade friction and infectious diseases, disruption to the global economy caused by the situation in Ukraine was cited as a source of concern in the geopolitical and economic environment. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy showed signs of slowing in its recovery, owing to US-China trade friction, tighter export restrictions by both Japan and South Korea, and the increase in the consumption tax rate last October. In addition, the global spread of the novel coronavirus since the beginning of this year caused economic activity to stagnate, equity prices to plunge, oil prices to decline and exchange rates to fluctuate sharply, heightening uncertainty about the economic outlook.」
In addition to trade friction and export restrictions, the global spread of the novel coronavirus further heightened uncertainty in the global economy. - FY2020-Q3RestatedAnnual report
「During the first 3 quarters of the fiscal year, Japan's economic recovery slowed due to the impact of US-China trade friction, tighter export controls between Japan and South Korea, the UK's withdrawal from the EU and the sluggish European economy.」
Uncertainty in the economic environment, including trade friction, export restrictions, the UK's withdrawal from the EU and the weakness of the European economy, continues to be cited. - FY2020-Q1RestatedAnnual report
「During the first 3 months of the fiscal year, observations began to emerge that Japan's economy, which had been on a prolonged though moderate recovery path, had stalled or entered a recessionary phase due to US-China trade friction and the resulting slowdown in China.」
Uncertainty in the global economy stemming from US-China trade friction and a slowdown in the Chinese economy continues to be cited. - FY2019-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy continued on a moderate recovery track. Although trade friction between the US and China intensified and a succession of natural disasters occurred, the employment and income environment continued to improve. However, in December, concerns about a slowdown in the US economy triggered a global sell-off in equities, and uncertainty began to cloud the outlook for the global economy.」
In addition to intensifying trade friction between the US and China, concerns about a slowdown in the US economy and a global decline in equity prices were cited, indicating heightened uncertainty in the global economy, including geopolitical and trade-related factors. - FY2019-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy continued on a moderate recovery track. Although trade friction between the US and China intensified and a succession of natural disasters occurred, the employment and income environment continued to improve against a backdrop of strong corporate earnings.」
The concern previously expressed regarding US-China trade friction was described this time as an intensification of trade friction between the US and China, with natural disasters also added as a source of concern. - FY2018ReframedAnnual report
「At the same time, concerns arose over geopolitical risks and US-China trade friction, among other uncertainties that could affect the future global situation.」
The wording has shifted from references to individual events such as the North Korea issue and terrorism to broader language that includes concerns about geopolitical risks and US-China trade friction. - FY2018-Q3RestatedAnnual report
「Geopolitical risks increased, due to issues involving North Korea and a succession of terrorist attacks in various locations.」
The company continues to identify rising geopolitical risks driven by issues involving North Korea and terrorist attacks in various locations. - FY2018-Q2First statedAnnual report
「Geopolitical risks increased, due to issues involving North Korea and a succession of terrorist attacks in various locations.」
For the first time, rising geopolitical risks driven by issues involving North Korea and terrorist attacks in various locations were identified as part of the economic environment.