Uncertainty arising from foreign exchange fluctuations and downturns in emerging-market and resource-exporting economies
First written in FY2017-Q1. 15 of 35 entries say "Restated". Latest entry: 2026-10-14.
STrust moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 158 of 184 companies on the "Worse" side.
54 other companies' latest entry also says "Restated".
- FY2026Explicit reference to trade policy, commodity markets and foreign exchange fluctuationsAnnual report
「During the consolidated fiscal year under review, the Japanese economy entered a gradual recovery trend overall, supported by a recovery in personal consumption resulting from improvements in employment and income conditions, a recovery in inbound demand, and capital investment demand centered on AI-related and labor-saving initiatives, despite rising prices. On the other hand, uncertainty continued regarding the trade policies of various countries, international commodity markets and foreign exchange fluctuations.」
The previous references to US economic policy and overseas economies have been replaced by explicit references to the trade policies of various countries, international commodity markets and foreign-exchange fluctuations as sources of uncertainty. - FY2025WorsenedAnnual report
「However, the outlook remains uncertain due to uncertainty surrounding US economic policy, trends in the financial and foreign exchange markets, higher prices resulting from the depreciation of the yen, soaring energy prices, geopolitical risks related to the situation in Ukraine and other factors, and fluctuations in financial and capital markets.」
In addition to the previous references to overseas economies, yen depreciation, energy prices and the situation in Ukraine, uncertainty surrounding US economic policy and developments in financial and foreign-exchange markets are explicitly mentioned. - FY2025-H1RestatedAnnual report
「However, the outlook remains uncertain due to continued global monetary tightening, concerns over overseas economies, inflation and yen depreciation, soaring energy-resource prices, geopolitical risks related to the situation in Ukraine and volatility in financial and capital markets.」
Uncertainty regarding the outlook due to global monetary tightening, overseas economies, yen depreciation and higher prices, energy prices, the situation in Ukraine and fluctuations in financial and capital markets continued to be disclosed. - FY2025-Q1WorsenedAnnual report
「However, the outlook remains uncertain due to continued global monetary tightening, concerns over overseas economies, inflation and yen depreciation, soaring energy-resource prices, geopolitical risks related to the situation in Ukraine and volatility in financial and capital markets.」
In addition to the previous references to monetary tightening, overseas economies and the situation in Ukraine, inflation associated with yen depreciation, soaring energy-resource prices and volatility in financial and capital markets are explicitly cited as sources of uncertainty. - FY2024-Q3RestatedAnnual report
「Meanwhile, the outlook remains uncertain due to concerns over a downturn in overseas economies against the backdrop of global monetary tightening, as well as the prolonged situation in Ukraine and trends in resource prices.」
Uncertainty regarding the outlook due to overseas economic weakness, the prolonged situation in Ukraine and resource-price trends continues to be described. - FY2024-Q1RestatedAnnual report
「Meanwhile, the outlook remains uncertain due to concerns over a downturn in overseas economies against the backdrop of global monetary tightening, as well as the prolonged situation in Ukraine and trends in resource prices.」
Uncertainty regarding the outlook due to overseas economic weakness, the prolonged situation in Ukraine and resource-price trends continues to be described. - FY2023WorsenedAnnual report
「Meanwhile, the outlook remains uncertain due to concerns over a downturn in overseas economies against the backdrop of global monetary tightening, as well as the prolonged situation in Ukraine and trends in resource prices.」
In addition to the previously cited infection, yen depreciation and high raw material prices, concerns about a downturn in overseas economies against the backdrop of global monetary tightening, the prolonged situation in Ukraine and trends in resource prices were explicitly identified as sources of uncertainty. - FY2023-Q2WorsenedAnnual report
「However, the economic outlook remains uncertain due in part to the renewed spread of the disease, soaring raw material prices and the rapid depreciation of the yen.」
The renewed spread of the novel coronavirus disease, soaring raw material prices and the rapid depreciation of the yen are explicitly cited as new sources of economic uncertainty. - FY2022WorsenedAnnual report
「During the consolidated fiscal year under review, the Japanese economy remained uncertain due to downside risks including restrictions on economic activity caused by the prolonged impact of the novel coronavirus disease, geopolitical risks arising from Russia's invasion of Ukraine, semiconductor shortages and trends in raw material prices.」
In addition to the existing uncertainty related to the novel coronavirus infection, Russia's invasion of Ukraine, semiconductor shortages and trends in raw material prices were explicitly identified as new downside factors. - FY2022-Q3Emergence of new variantsAnnual report
「During the third quarter of the current consolidated cumulative period, the Japanese economy remained uncertain, despite the acceleration of vaccinations in response to the impact of the novel coronavirus infection, due in part to the emergence of new variants.」
In addition to the acceleration of vaccinations, the emergence of new variants is explicitly identified as a source of uncertainty regarding the economic outlook. - FY2022-Q2Addition of vaccine and variant-related factorsAnnual report
「During the second quarter of the current consolidated cumulative period, the Japanese economy remained uncertain, despite the acceleration of vaccinations against the novel coronavirus disease, as infections continued to spread due to variants.」
While the acceleration of vaccinations was noted, the spread of variants was explicitly identified as a new source of uncertainty. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy deteriorated rapidly as sentiment weakened due to the spread of the novel coronavirus infection, and the outlook remains extremely uncertain.」
The deterioration in economic sentiment associated with the spread of the novel coronavirus infection and the extreme uncertainty surrounding the outlook continued to be disclosed. - FY2021WorsenedAnnual report
「During the consolidated fiscal year under review, the Japanese economy was significantly affected across economic activity and social life by the spread of the novel coronavirus disease, sentiment deteriorated, and uncertainty regarding economic trends is expected to remain.」
The novel coronavirus disease is described as having had a significant impact on economic activity and social life as a whole, with sentiment deteriorating and uncertainty regarding economic conditions continuing. - FY2021-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, the Japanese economy deteriorated rapidly as sentiment weakened due to the spread of the novel coronavirus infection, and the outlook remains extremely uncertain.」
The deterioration in economic sentiment associated with the spread of the novel coronavirus infection and the extreme uncertainty surrounding the outlook continued to be disclosed. - FY2021-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the Japanese economy deteriorated rapidly as sentiment weakened due to the spread of the novel coronavirus infection, and the outlook remains extremely uncertain.」
The deterioration in economic sentiment associated with the spread of the novel coronavirus infection and the extreme uncertainty surrounding the outlook continued to be disclosed. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy deteriorated rapidly as sentiment weakened due to the spread of the novel coronavirus infection, and the outlook remains extremely uncertain.」
In addition to the existing economic uncertainty, the rapid deterioration in economic sentiment associated with the spread of the novel coronavirus infection and the extreme uncertainty surrounding the outlook were explicitly stated. - FY2020WorsenedAnnual report
「During the consolidated fiscal year under review, the Japanese economy remained on a gradual recovery trend, despite fluctuations caused by factors including the consumption tax rate increase, supported by favorable employment and income conditions. However, uncertainty regarding economic trends remains, including the impact of developments in US-China trade issues and the spread of the novel coronavirus disease on domestic and overseas economies.」
In addition to the previous references to trade issues and uncertainty surrounding overseas economies, the impact of the spread of the novel coronavirus disease on domestic and overseas economies is explicitly cited as a source of uncertainty. - FY2020-Q3WorsenedAnnual report
「However, the outlook remains uncertain, with significant downside risks, particularly in overseas economies.」
The previous reference to rising uncertainty surrounding overseas economies has been strengthened to explicitly state that significant downside risks are centered on developments in overseas economies. - FY2020-Q2RestatedAnnual report
「However, uncertainty regarding trade issues and overseas economies continues to contribute to uncertainty regarding economic trends.」
Uncertainty surrounding trade issues and overseas economies continues to be cited as a source of uncertainty regarding economic trends. - FY2020-Q1WorsenedAnnual report
「However, uncertainty regarding trade issues and overseas economies continues to contribute to uncertainty regarding economic trends.」
The concerns previously expressed regarding protectionism, trade friction and North Korea have been replaced by developments in trade issues and uncertainty surrounding overseas economies, with the latter explicitly described as having increased. - FY2019-Q3RestatedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about trade friction resulting from protectionism and geopolitical risks surrounding the situation on the Korean Peninsula.」
Trade friction resulting from protectionism and geopolitical risks surrounding North Korea continue to be cited as sources of uncertainty regarding economic trends. - FY2019-Q2RestatedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about trade friction resulting from protectionism and geopolitical risks surrounding the situation on the Korean Peninsula.」
Trade friction resulting from protectionism and geopolitical risks surrounding North Korea continue to be cited as sources of uncertainty regarding economic trends. - FY2019-Q1RestatedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about trade friction resulting from protectionism and geopolitical risks surrounding the situation on the Korean Peninsula.」
Trade friction resulting from protectionism and geopolitical risks surrounding North Korea continue to be cited as sources of uncertainty regarding economic trends. - FY2018Replacement of risk factorsAnnual report
「However, uncertainty remains regarding economic trends, including concerns about trade friction resulting from protectionism and geopolitical risks surrounding the situation on the Korean Peninsula.」
The risk of trade friction arising from the rise of protectionism is explicitly mentioned in place of the UK's withdrawal from the EU. Geopolitical risks surrounding North Korea remain. - FY2018-Q3RestatedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about the UK's withdrawal from the EU and geopolitical risks surrounding the situation in North Korea.」
The UK's withdrawal from the EU and geopolitical risks surrounding North Korea continue to be described as sources of uncertainty regarding economic trends. - FY2018-Q2RestatedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about the UK's withdrawal from the EU and geopolitical risks surrounding the situation in North Korea.」
The UK's withdrawal from the EU and geopolitical risks surrounding North Korea continue to be cited as sources of economic uncertainty. - FY2018-Q1Replacement of risk factorsAnnual report
「However, uncertainty remains regarding economic trends, including concerns about the UK's withdrawal from the EU and geopolitical risks surrounding the situation in North Korea.」
The UK's withdrawal from the EU remained, while geopolitical risks surrounding the situation on the Korean Peninsula were added in place of the previously cited new US administration and downturns in emerging-market and resource-exporting economies. - FY2017RestatedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about the impact on the Japanese economy of the UK's withdrawal from the EU, the formation of a new administration in the United States, and downturns in emerging-market and resource-exporting countries.」
The UK's withdrawal from the EU, the new US administration, and downturns in emerging and resource-rich economies continue to be cited as sources of economic uncertainty. - FY2017-Q3WorsenedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about the impact on the Japanese economy of the UK's withdrawal from the EU, the formation of a new US administration, and economic downturns in emerging and resource-rich countries, particularly China.」
In addition to the UK's withdrawal from the EU and concerns over downturns in emerging and resource-rich economies, the formation of a new US administration is explicitly cited as a factor that could affect the Japanese economy. - FY2017-Q2WorsenedAnnual report
「However, uncertainty remains regarding economic trends, including concerns about the impact of the UK's withdrawal from the EU and economic downturns in emerging and resource-rich countries, particularly China.」
In addition to the previous concern over downturns in emerging and resource-rich economies, the UK's withdrawal from the EU is explicitly mentioned, broadening the range of factors cited as sources of economic uncertainty. - FY2017-Q1First statedAnnual report
「However, uncertainty remains regarding economic trends, including concern about the impact of sharp foreign exchange movements and downturns in the economies of emerging markets and resource-exporting countries, particularly China.」
Sharp foreign-exchange fluctuations and downturns in overseas economies are described as sources of uncertainty regarding economic trends.