Country Risk in Overseas Operations
First written in FY2016. 8 of 13 entries say "Worsened", first in FY2020. Latest entry: FY2026.
Shinden Hightex moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 50 of 96 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026No direct impact from the situation in the Middle East, but indirect effects remain under close watchAnnual report
「Regarding the current situation in the Middle East, the Group does not sell to the region or conduct direct procurement transactions from the region, and therefore is not in a position where its business activities would be immediately and significantly affected. However, indirect effects through customers or suppliers could emerge depending on future changes in the international situation, so the Group will continue to closely monitor developments.」
The Group states that there is no immediate significant impact from the situation in the Middle East because it has no direct transactions there, while newly specifying the possibility of indirect effects through customers and suppliers. - FY2025WorsenedAnnual report
「Amid concerns about a global recession resulting from the impact of recent US tariff policies, the Group's measures alone cannot completely avoid these risks.」
In addition to the conventional overseas and geopolitical risks, concerns about a global recession resulting from US tariff policies have been identified as a specific downside factor. - FY2025-H1RestatedAnnual report
「However, downside risks arising from higher prices, persistently high interest rates in Europe and the United States, concerns over the outlook for the Chinese economy, and conditions surrounding the Middle East are creating uncertainty about the economic outlook.」
The filing continues to identify overseas and geopolitical downside risks arising from global inflation, high interest rates, concerns about the outlook for the Chinese economy, and the situation in the Middle East. - FY2024WorsenedAnnual report
「However, downside risks to the economy resulting from the impact of global inflation and monetary tightening, concerns about the outlook for the Chinese economy, the situations in Ukraine and the Middle East, and the effects of the Noto Peninsula Earthquake that occurred in January of this year are increasing uncertainty about the outlook.」
Global inflation and monetary tightening, concerns about the Chinese economy, the situations in Ukraine and the Middle East, and the Noto Peninsula Earthquake have been specifically listed as downside risks to the economy. - FY2024-Q3WorsenedAnnual report
「However, the impact of global inflation and monetary tightening, concerns about the outlook for the Chinese economy, the situations in Ukraine and the Middle East, and the effects of the Noto Peninsula Earthquake that occurred in January of this year are creating downside risks to the economy and increasing uncertainty about the outlook.」
In addition to the conventional overseas and geopolitical risks, global inflation, monetary tightening, concerns about the outlook for the Chinese economy, and the situations in Ukraine and the Middle East have been specifically identified as downside risks to the economy. - FY2024-Q2WorsenedAnnual report
「However, downside risks to overseas economies resulting from global inflation and monetary tightening, as well as stagnation in the Chinese and European economies, are increasing uncertainty about the outlook.」
In addition to the conventional geopolitical and overseas economic risks, global inflation, monetary tightening, and stagnation in the Chinese and European economies have been explicitly identified as downside risks. - FY2023-Q1WorsenedAnnual report
「However, amid concerns over the impact of lockdowns in China and a prolonged Russia-Ukraine situation, supply constraints, rising prices and policy rate increases in major Western countries are increasing uncertainty about the outlook by creating downside risks for the Japanese economy.」
In addition to the prolonged lockdowns in China and the Russia-Ukraine situation, supply constraints, rising prices and policy rate increases in the West have emerged as specific overseas and geopolitical risks. - FY2022WorsenedAnnual report
「Regarding the situation in Russia and Ukraine related to ①, the Group does not conduct business in the region and has no business directed toward the region. Accordingly, the Group recognizes that there is no direct impact. However, it anticipates a certain degree of impact from increases in various costs, including logistics costs resulting from higher resource prices.」
The Group states that the situation in Russia and Ukraine has no direct impact on its business, while additionally recognizing indirect effects from higher resource prices, increased logistics and other costs, and supply-chain disruptions. - FY2021WorsenedAnnual report
「① Terrorism, war and other events. ② Changes in political, social and economic conditions in each country or between the countries concerned. ③ Amendments to legal regulations concerning laws, import and export controls, taxation systems and other matters in each country, as well as changes in business practices and labor-management relations. ④ Supply-chain disruptions and stalled merchandise supplies resulting from factors in ① through ③ or other unforeseeable geopolitical factors.」
The conventional country risks associated with overseas operations and overseas procurement have been organized as geopolitical risks, explicitly including supply-chain disruptions. - FY2020WorsenedAnnual report
「Specific concerns include a prolonged period of US-China trade friction and heightened tensions on the Korean Peninsula, including issues between Japan and South Korea.」
In addition to the general country risks associated with overseas operations, the filing identifies the prolonged US-China trade friction and heightened tensions on the Korean Peninsula as specific concerns. - FY2019RestatedAnnual report
「The Group conducts business activities not only in Japan but also overseas, mainly in Asia, with the aim of strengthening relationships with major suppliers of LCDs, semiconductors and electronic equipment, and supporting the operations of overseas production sites of its major customers, including domestic electrical equipment manufacturers.」
The filing reiterates country risks, including political, economic, regulatory and business-practice risks, associated with overseas operations, as well as the Group's expansion to support overseas production. - FY2017RestatedAnnual report
「When the Group conducts business activities overseas, changes in political, social and economic conditions in each country, amendments to legal regulations concerning laws, import and export controls, taxation systems and other matters, differences in business practices, labor-management relations, and other political and social factors could affect the Group's business performance and other matters.」
The filing reiterates country risks associated with overseas operations, including political, economic, regulatory and business-practice risks, mainly in Asia. - FY2016First statedAnnual report
「Changes in political, social and economic conditions in each country, amendments to legal regulations concerning laws, import and export controls, taxation systems and other matters, differences in business practices, labor-management relations, and other political and social factors could affect the Group's business performance and other matters.」
External-environment risks associated with the expansion of overseas operations, mainly in Asia.