Uncertainty over the outlook due to a slowdown in overseas economies, a stronger yen and falling share prices
First written in FY2016-Q3. 19 of 33 entries say "Worsened", first in FY2016. Latest entry: FY2026.
Tea Life 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 2020: 141 of 158 companies on the "Worse" side.
55 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In addition, against the backdrop of developments in the situation in the Middle East and U.S. trade policies, uncertainty about the outlook continues.」
The note continues to cite uncertainty over the outlook due to overseas risks, including the situation in the Middle East and US trade policy. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period under review, Japan's economy maintained a recovery trend but lacked momentum due to risks including the continued impact of US trade policy and weakness in China's economy. In October 2025, a new administration was also formed, and changes in the policy and financial environment, including more flexible fiscal policy and a period of rising interest rates, have created uncertainty for the economy as a whole.」
In addition to the previously noted overseas economic, trade and geopolitical risks, the note specifies the continuation of US trade policy, weakness in China's economy, the formation of a new administration and changes in fiscal policy and interest-rate conditions as new factors contributing to uncertainty. - FY2025WorsenedAnnual report
「Although rising prices resulting from higher resource prices and foreign exchange movements and unstable conditions surrounding US trade policy and China's economic slowdown persist,」
In addition to the previously noted resource prices, foreign exchange rates and geopolitical risks, the note specifies US trade policy and China's economic slowdown as destabilizing factors. - FY2025-H1WorsenedAnnual report
「Although Japan's economy remained unstable due to rising prices resulting from soaring resource prices and exchange-rate effects, policies following the inauguration of the new US president, geopolitical risks in Ukraine and the Middle East, and a slowdown in China's economy, the economy was on a gradual recovery path due to factors including the continuing trend of wage increases and increased inbound demand.」
While indicating a moderate recovery in the economy, the note newly specifies policies associated with the inauguration of the new US president, geopolitical risks in Ukraine and the Middle East and slowing growth in China's economy as destabilizing factors. - FY2024WorsenedAnnual report
「The difficult conditions are expected to continue amid the effects of monetary tightening led by the US and concerns over the outlook for China's economy, in addition to rising prices and fluctuations in financial and capital markets.」
In addition to the previously noted geopolitical risks and inflation, the note specifies US monetary tightening and concerns over the outlook for China's economy as overseas downside risks. - FY2024-Q3RestatedAnnual report
「Although Japan's economy remained subject to an uncertain outlook due to soaring resource prices, exchange-rate effects, prolonged geopolitical risks in Ukraine and the Gaza Strip, the impact of the Noto Peninsula earthquake and advancing inflation, consumer activity showed signs of recovery due to factors including the continuing trend of wage increases and increased inbound demand.」
While continuing to cite uncertainty over the outlook from resource prices, foreign exchange rates, geopolitical risks in Ukraine and Gaza, the Noto Peninsula Earthquake and inflation, the note also cites a recovery in consumption driven by wage increases and inbound demand. - FY2024-Q2WorsenedAnnual report
「Although Japan's economy remained subject to an uncertain outlook due to soaring resource prices, exchange-rate effects, prolonged geopolitical risks in Ukraine and the Gaza Strip, the impact of the Noto Peninsula earthquake and advancing inflation, consumer activity showed signs of recovery due to factors including the continuing trend of wage increases, increased post-COVID inbound demand and more opportunities to go out.」
In addition to the previously noted resource prices, foreign exchange rates, Ukraine and inflation, the note cites geopolitical risks in Gaza and the impact of the Noto Peninsula Earthquake as new factors contributing to uncertainty. It also cites a recovery in consumption driven by inbound demand and increased opportunities to go out. - FY2024-Q1RestatedAnnual report
「Although Japan's economy remained subject to an uncertain outlook due to geopolitical risks, including soaring resource prices, exchange-rate effects and Russia's invasion of Ukraine, and advancing inflation, consumer activity showed signs of recovery as restrictions on economic and social activity related to COVID-19 were eased.」
While uncertainty from resource prices, foreign exchange rates, the situation in Ukraine, geopolitical risks and inflation persists, the note continues to cite the easing of restrictions on economic and social activity and the recovery in consumer activity. - FY2023-Q3RestatedAnnual report
「Although Japan's economy remained subject to an uncertain outlook due to geopolitical risks and global inflation, including soaring resource prices, exchange-rate effects and Russia's invasion of Ukraine, the economy showed signs of recovery as COVID-19 countermeasures progressed and restrictions on economic activity were eased.」
While continuing to cite uncertainty from resource prices, foreign exchange rates, the situation in Ukraine, geopolitical risks and global inflation, the note also indicates signs of recovery as measures to control COVID-19 progress and restrictions on economic activity are eased. - FY2023-Q2RestatedAnnual report
「Although some weakness remains, the economy is gradually recovering as continued global monetary tightening, the situation in Ukraine, higher costs resulting from the weaker yen and rising prices persist.」
The note continues to cite monetary tightening, the situation in Ukraine, yen depreciation, higher costs and rising prices as factors contributing to uncertainty, while also indicating a gradual economic recovery. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy saw consumers become increasingly focused on protecting their household finances as rapid yen depreciation and higher raw material prices drove up prices while wage growth failed to keep pace. At the same time, economic activity moved toward normalization as lifestyles adapted to living with COVID-19 and restrictions on movement and entry into Japan were lifted. However, concerns over the risk of inflation from further yen depreciation and a renewed spread of COVID-19 remain, and uncertainty over the outlook continues.」
The note describes consumers' heightened focus on protecting their household finances due to rapid yen depreciation, higher raw material prices and lagging wage growth, and states that concerns over inflation from further yen depreciation and the risk of a renewed spread of COVID-19 persist. - FY2022WorsenedAnnual report
「Personal consumption has remained sluggish as consumers have become more focused on protecting their household finances, due to the impact of higher global raw material prices following Russia's invasion of Ukraine and rising prices caused by the weaker yen.」
In addition to the previously noted COVID-19 and supply chain factors, Russia's invasion of Ukraine, higher raw material prices, the weaker yen and rising prices have emerged as factors contributing to macroeconomic uncertainty. - FY2022-Q3WorsenedAnnual report
「Japan's economy during the third quarter of the consolidated cumulative period remained subject to an uncertain outlook, with no end in sight to COVID-19, as disruptions to global supply chains, including China's lockdowns, and instability in international affairs following Russia's invasion of Ukraine raised concerns over renewed economic stagnation.」
In addition to the previously noted COVID-19 and supply chain disruptions, instability in international affairs resulting from China's lockdowns and Russia's invasion of Ukraine beginning in February 2022 is cited as a new factor contributing to uncertainty. - FY2022-Q2WorsenedAnnual report
「Japan's economy during the second quarter of the consolidated cumulative period showed some signs of recovery against a backdrop of stable new COVID-19 infection numbers, the effects of various policies and improvements in overseas economies, but the uncertain outlook persisted as the issuance of priority preventive measures in response to a sharp increase in domestic Omicron cases from January 2022 raised concerns over renewed economic stagnation, in addition to the impact of disruptions to global supply chains.」
Although the economy showed signs of recovery, concerns have again emerged over economic stagnation and uncertainty about the outlook due to global supply chain disruptions, a rapid increase in Omicron cases and the issuance of priority preventive measures. - FY2022-Q1WorsenedAnnual report
「Japan's economy during the first quarter of the consolidated cumulative period continued to show signs of recovery, supported by thorough infection-control measures, the widespread rollout of vaccines and improvements in overseas economies, which reduced the number of infections recently, but the uncertain outlook persisted amid concerns over downside risks from disruptions to global supply chains, developments in infectious diseases in Japan and overseas, volatility in financial and capital markets, and other uncertain factors.」
Although signs of an economic recovery are evident, the note specifically cites global supply chain disruptions and downside risks in addition to the previously noted COVID-19 and financial market risks. - FY2021-Q3WorsenedAnnual report
「Japan's economy during the third quarter of the consolidated cumulative period showed some signs of recovery due to various government policies and improvements in overseas economies while restrictions on economic activity and weak personal consumption continued amid the impact of COVID-19, but the uncertain outlook persisted as highly transmissible variants emerged and infections began to spread again from March, prompting the declaration of a state of emergency and the implementation of priority preventive measures in some regions.」
In addition to the previously noted uncertainty from COVID-19 and the state of emergency, the note cites highly transmissible variants, renewed spread of infections from March, and the issuance of states of emergency and priority preventive measures, specifying the downside factors. - FY2021-Q2WorsenedAnnual report
「Following the reissuance of a state of emergency due to the third wave of infections, downside risks increased as the economy near term stagnated, and uncertainty about the outlook continued.」
The note describes economic stagnation and heightened downside risks caused by the third wave of COVID-19 and the reissuance of a state of emergency, indicating greater uncertainty over the outlook. - FY2021-Q1SoftenedAnnual report
「Although the economy showed signs of recovery as social and economic activity levels increased, supported by measures to prevent the spread of infection, the effects of various policies and improvements in overseas economies while COVID-19 continued to affect conditions, the uncertain outlook persisted, requiring close monitoring of future developments in infections in Japan and overseas and volatility in financial and capital markets.」
Although uncertainty remains due to the effects of COVID-19 and fluctuations in financial and capital markets, the note also describes signs of an economic recovery resulting from the resumption of socioeconomic activity and improvement in overseas economies, representing a partial easing from the rapid deterioration described in the previous filing. - FY2020WorsenedAnnual report
「Uncertainty over the outlook intensified further as the domestic and overseas economies stagnated due to the spread of COVID-19, causing the economy to deteriorate rapidly.」
In addition to the previously noted overseas risks and financial market volatility, the note cites stagnation in the domestic and overseas economies and economic deterioration caused by the spread of COVID-19. - FY2020-Q3WorsenedAnnual report
「Uncertainty over the outlook intensified as the spread of COVID-19 disrupted the global economy and, in Japan, restrictions on corporate activity following the declaration of a state of emergency and stalled consumption caused the economy to deteriorate rapidly.」
In addition to the previously noted US-China trade friction and overseas conditions, COVID-19, disruption to the global economy, restrictions on corporate activity under the state of emergency and stalled consumption are cited, reflecting a deterioration in the economy and greater uncertainty. - FY2020-Q2WorsenedAnnual report
「The economy remained uncertain amid developments in overseas economies, including the outlook for China's economy, the UK's departure from the EU and the situation in the Middle East, as well as fluctuations in financial and capital markets.」
The note lists China's economy, the UK's departure from the EU, the situation in the Middle East and fluctuations in financial and capital markets as specific factors contributing to uncertainty in overseas economies. - FY2019WorsenedAnnual report
「Japan's economy is expected to remain firm, supported by improving employment and income conditions, but the outlook is expected to remain uncertain due to the emergence of overseas risks, including international trade issues and a downturn in the Chinese, US and European economies.」
In addition to the previously noted uncertainty in overseas economies, the note specifies international trade issues and a downturn in the Chinese, US and European economies as overseas risks. - FY2019-Q3WorsenedAnnual report
「Japan's economy during the third quarter of the consolidated cumulative period remained on a gradual recovery path, supported by solid corporate earnings and improving employment and income conditions, but the outlook remained uncertain due to the impact of US-China trade friction and economic slowdowns in China and Europe.」
In addition to the previously noted uncertainty in overseas economic and political developments, the note identifies US-China trade friction and slowing economies in China and Europe as specific factors contributing to uncertainty. - FY2019-Q2RestatedAnnual report
「Although uncertainty over the outlook due to uncertainty in overseas economies remains,」
Uncertainty about the outlook due to uncertainty in overseas economies continues to be described. - FY2019-Q1RestatedAnnual report
「Although uncertainty over the outlook remains due to unstable economic and political developments overseas,」
The company continued to state the uncertain outlook resulting from unstable economic and political developments overseas. - FY2018SoftenedAnnual report
「During the fiscal year under review, Japan's economy remained on a moderate recovery track. Personal consumption, although sluggish, showed signs of recovery against a backdrop of increased corporate capital investment and exports and improving employment and income conditions.」
The factors previously cited as creating uncertainty, including a slowdown in overseas economies and a stronger yen and falling share prices, are not prominent in the description of the business environment in this filing, which instead cites a moderate recovery in the domestic economy. - FY2018-Q1RestatedAnnual report
「The economy remained uncertain amid concerns over uncertainty in the global economy and unstable political developments overseas, among other factors.」
The company continued to state the uncertain outlook resulting from uncertainty in the global economy and concerns over political developments overseas. - FY2017RestatedAnnual report
「The economy remained uncertain amid uncertainty in overseas economies, including the UK's departure from the EU and concerns over US economic policy.」
The note continues to cite uncertainty in overseas economies and uncertainty over the outlook, including the UK's departure from the EU and concerns over US economic policy. - FY2017-Q3RestatedAnnual report
「The economy remained uncertain due to slowing growth in China and emerging economies, the UK's departure from the EU and concerns over policies of the new US administration, among other factors.」
The note continues to cite uncertainty over the outlook due to slowing growth in China and emerging economies, the UK's departure from the EU and concerns over policies of the new US administration. - FY2017-Q2WorsenedAnnual report
「The economy remained uncertain due to concerns over slowing growth in China and emerging economies, the UK's departure from the EU and policies of the new US administration, among other factors.」
In addition to slowing growth in China and emerging economies and the UK's departure from the EU, concerns over policies of the new US administration are also listed, broadening the factors contributing to macroeconomic uncertainty. - FY2017-Q1RestatedAnnual report
「The economy remained uncertain amid risks from an economic downturn in emerging Asian countries, including China.」
The note continues to cite downside risks in emerging Asian economies, including China, and uncertainty over the outlook. - FY2016WorsenedAnnual report
「The economy remained uncertain due to concerns over an economic slowdown in emerging Asian countries, led by China, as well as disruption in financial markets following the UK's decision to leave the EU.」
In addition to the previously noted concerns over a slowdown in Asian economies, the disruption in financial markets following the UK's decision to leave the EU is cited, broadening the factors contributing to macroeconomic uncertainty. - FY2016-Q3First statedAnnual report
「In addition to concerns about economic slowdowns in emerging Asian and resource-rich countries, including China, conditions remained uncertain, with the yen rapidly strengthening and share prices falling from the beginning of the year.」
The note describes concerns over a slowdown in overseas economies and the stronger yen and falling share prices since the beginning of the year as the actual economic environment.