Downside Risk to Economic Activity from Economic and Policy Uncertainty in Emerging Asian Economies
First written in FY2017-Q3. 9 of 20 entries say "Restated". Latest entry: 2026-10-09.
Shirohato moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 125 of 168 companies on the "Worse" side.
65 other companies' latest entry also says "Restated".
- FY2026-H1WorsenedAnnual report
「During the interim accounting period, Japan’s economy remained on a gradual recovery track, but sluggish real wage growth continued to restrain private consumption and slow the pace of recovery. In addition, rising import prices, driven by the weaker yen and heightened international tensions, placed pressure on both corporate earnings and household finances, leaving the economic outlook uncertain.」
In addition to the existing uncertainty surrounding overseas economies and policies, sluggish real wage growth, the weaker yen, rising import prices, and heightened international tensions were cited as factors contributing to economic uncertainty. - FY2025RestatedAnnual report
「Regarding the economic environment, domestic demand continued to recover, partly supported by inbound consumption, while the effects of higher raw material and transportation costs persisted. The outlook is expected to remain uncertain due to financial market volatility and risks related to overseas conditions.」
The uncertainty surrounding the external environment, including raw material and transportation costs, financial market volatility, and overseas conditions, continues to be cited. - FY2025-H1ReframedAnnual report
「During the interim accounting period, Japan’s economy showed a gradual recovery driven by measures aimed at increasing incomes and growing inbound consumption, while the outlook remained uncertain, with rising prices and the trend toward yen depreciation restraining consumer sentiment.」
The description of economic uncertainty was updated to indicate factors supporting the recovery while explicitly citing restrained consumer sentiment due to rising prices and the trend toward yen depreciation. - FY2024ReframedAnnual report
「Although a gradual recovery is expected to continue as employment and income conditions improve, overseas economic weakness, including the effects of global monetary tightening and concerns over the outlook for the Chinese economy, poses a risk of putting downward pressure on Japan’s economy.」
The description of overseas economic risks was updated to explicitly include concerns over the outlook for the Chinese economy in addition to global monetary tightening. - FY2024-Q3ReframedAnnual report
「During the cumulative third quarter, Japan’s economy was gradually recovering, although some areas showed signs of stagnation. While a downturn in overseas economies, due to the effects of global monetary tightening and concerns over the outlook for the Chinese economy, poses a risk of putting downward pressure on Japan’s economy, a gradual recovery is expected to continue as employment and income conditions improve, supported by the effects of various government policies.」
The description of downside risks to overseas economies was updated to explicitly include concerns over the outlook for the Chinese economy in addition to global monetary tightening. Meanwhile, the domestic economy is described as expected to recover gradually. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter, Japan’s economy showed a gradual recovery. Although attention must be paid to downside risks from the effects of global monetary tightening and rising prices, a gradual recovery is expected to continue as employment and income conditions improve, supported by the effects of various government policies.」
Downside risks from global monetary tightening and rising prices continue to be disclosed. Meanwhile, the domestic economy is described as expected to recover gradually. - FY2023WorsenedAnnual report
「During the fiscal year, Japan’s economy was gradually recovering as efforts to contain COVID-19 accelerated, but the outlook remained uncertain, including downside risks from the prolonged Russia-Ukraine situation, global inflation, and the depreciation of the yen.」
In addition to the existing uncertainty surrounding infectious diseases and overseas economies, the prolonged Russia-Ukraine situation, global inflation, and downside risks from the depreciation of the yen were cited. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter, Japan’s economy showed signs of a gradual recovery, but the end of COVID-19 remains unforeseeable, with infections surging since July. The outlook has also remained uncertain due to the effects of global monetary tightening and sharp exchange-rate fluctuations.」
In addition to the existing uncertainty surrounding infectious diseases and overseas economies, the surge in infections, global monetary tightening, and sharp exchange-rate fluctuations were cited as factors contributing to the uncertain outlook. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter, Japan’s economy showed signs of recovery, but the outlook has become increasingly uncertain amid the prolonged situation in Ukraine, restrictions on economic activity in China, and rising raw material prices and supply constraints resulting from the sharp depreciation of the yen.」
In addition to the existing uncertainty surrounding overseas economies and policies, the prolonged situation in Ukraine, restrictions on economic activity in China, the sharp depreciation of the yen, rising raw material prices, and supply constraints were cited as factors contributing to the uncertain outlook. - FY2020WorsenedAnnual report
「The impact of COVID-19 on the domestic and overseas economies requires close attention, and the outlook continued to be uncertain.」
In addition to the existing uncertainty surrounding overseas economies and policies, the impact of COVID-19 on the domestic and overseas economies was cited as a factor contributing to the uncertain outlook. - FY2020-Q2RestatedAnnual report
「Meanwhile, overseas economies continued to face uncertainty, as concerns remained over the impact of heightened tensions surrounding trade issues on the global economy, as well as uncertainty over the economic outlook and policies in Asia.」
The disclosure continues to describe heightened tensions over trade issues, uncertainty over the Asian economy and policies, and uncertainty surrounding overseas economies. - FY2019RestatedAnnual report
「Although overseas economies remained generally firm, the outlook continued to be uncertain, reflecting the effects of the United States’ protectionist trade policies and rising geopolitical risks in Europe and Asia.」
The uncertainty surrounding overseas economies due to U.S. protectionist trade policies and geopolitical risks in Europe and Asia is reaffirmed. - FY2019-Q3RestatedAnnual report
「Meanwhile, the outlook for overseas economies remained uncertain, owing to factors including trade issues between the United States and China and uncertainty surrounding the politics and economies of emerging countries.」
Uncertainty surrounding trade issues between the United States and China and the politics and economies of emerging countries continues to be cited as a factor contributing to uncertainty about the outlook for overseas economies. - FY2019-Q1RestatedAnnual report
「Although Japan's economy also continues to recover moderately, conditions surrounding U.S. trade and monetary policy and the politics and economies of emerging countries remain uncertain, and despite the recovery trend, parts of the outlook remained unclear.」
Uncertainty in the overseas environment relating to U.S. trade and monetary policy and the politics and economies of emerging countries continues to be disclosed. - FY2018-Q4ReframedAnnual report
「Although Japan's economy continues to recover moderately, the outlook for overseas economies remains uncertain, owing to factors including U.S. trade policy and uncertainty surrounding the politics and economies of emerging countries.」
The description of external-environment risks has broadened from economic and political instability in Asia to uncertainty across overseas economies, including U.S. trade policy and the politics and economies of emerging countries. - FY2017RestatedAnnual report
「Amid concerns about economic and political conditions in Asia, the outlook remains uncertain.」
Uncertainty about the outlook due to economic and political instability in Asia is being reiterated as an external-environment risk. - FY2017-Q4RestatedAnnual report
「As downside risks to economic conditions in emerging Asian countries remained a concern, conditions continued to be uncertain going forward.」
Concerns over downside risks to economic conditions in emerging Asian countries and uncertainty about the outlook continue to be cited as risks in the external environment. - FY2017-Q3First statedAnnual report
「Downside risk to economic conditions due to the impact of economic and policy uncertainty in emerging Asian countries remained a concern, and conditions continued to be uncertain going forward.」
Economic and policy uncertainty in emerging Asian countries was identified as a downside risk to economic conditions.