Weak domestic consumption, concerns over a slowdown in China and other external factors
First written in FY2016. 24 of 35 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-08-12.
The Seima Holdings 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: 131 of 176 companies on the "Worse" side.
66 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「During the interim accounting period, Japan's economy remained difficult to assess as the outcome of tariff negotiations with the US remained uncertain, affecting a wide range of sectors, including the automotive industry. In addition, consumer prices rose due to persistently high energy and raw material prices amid concerns over the prolonged situations in Ukraine and the Middle East, as well as the emergence of labor shortages.」
In addition to international conditions, energy and raw material prices, and labor shortages, uncertainty surrounding tariff negotiations with the US was explicitly identified as an external concern. - FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period, a gradual economic recovery was expected against a backdrop of improving corporate earnings and personal consumption as social and economic activity normalized. However, the outlook remained difficult to assess due to persistently high energy and raw material prices amid concerns over the prolonged situations in Ukraine and the Middle East, the emergence of labor shortages, and significant foreign exchange volatility.」
While expectations for an economic recovery were noted, the situations in Ukraine and the Middle East, persistently high energy and raw material prices, the emergence of labor shortages, and significant foreign exchange volatility were identified as sources of uncertainty in the external environment. - FY2024WorsenedAnnual report
「Meanwhile, economic growth in Europe and the US slowed as inflation led to monetary tightening, while the Chinese economy weakened amid stagnation in the property market, underscoring the need to monitor downside risks to overseas economies. In addition to persistently high energy prices and soaring raw material prices resulting in part from the prolonged situation in Ukraine and deteriorating conditions in the Middle East, the outlook remained uncertain due to foreign exchange fluctuations.」
In addition to the ongoing pandemic, the weak yen, and high raw material prices, slower growth in Europe and the US, stagnation in China's property market, and deteriorating conditions in the Middle East were identified as sources of uncertainty in the external environment. - FY2024-Q3WorsenedAnnual report
「Meanwhile, economic growth in Europe and the US slowed as inflation led to monetary tightening, while the Chinese economy showed signs of stagnation due to weakness in the property market, underscoring the need to monitor downside risks to overseas economies. In addition, the outlook remained uncertain due to persistently high energy prices and soaring raw material prices resulting in part from the prolonged situation in Ukraine.」
While signs of recovery in the domestic economy were noted, slower growth in Europe and the US, stagnation in China's property market, the situation in Ukraine, and energy and raw material prices were identified as specific new sources of uncertainty. - FY2024-Q1RestatedAnnual report
「During the three-month consolidated cumulative period, economic activity moved toward normalization and showed signs of a gradual recovery as restrictions on activities related to COVID-19 were eased. However, the economic outlook remained uncertain against a backdrop of persistently high energy-related prices due in part to the situation in Ukraine, soaring raw material prices, and fluctuations in the foreign exchange market.」
While progress toward economic normalization following the easing of restrictions on activities was noted, uncertainty over the outlook due to energy prices, raw material prices, and foreign exchange fluctuations was reconfirmed. - FY2023WorsenedAnnual report
「Economic activity was recovering as COVID-19 vaccinations became widespread, but the timing of the end of the pandemic remained unforeseeable due to the spread of new variants. In addition, the outlook remained uncertain amid growing international instability, the depreciation of the yen, and further increases in raw material prices.」
While a recovery trend in economic activity was noted, new variants, growing international instability, the depreciation of the yen, and further increases in raw material prices were identified as sources of uncertainty in the external environment. - FY2023-Q3RestatedAnnual report
「During the nine-month consolidated cumulative period, signs of movement toward the normalization of social and economic activity emerged as COVID-19 persisted and restrictions on activities were eased. However, the outlook remained uncertain due to inflation caused by soaring energy prices and the rapid depreciation of the yen.」
The report reconfirmed that, despite the prolonged pandemic and signs of normalization following the easing of restrictions on activities, the outlook remained uncertain due to soaring energy prices, the rapid depreciation of the yen, and inflation. - FY2023-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, signs of movement toward the normalization of social and economic activity emerged as measures against COVID-19 and restrictions on activities were eased. However, uncertainty persisted due to higher crude oil and raw material prices resulting from the situation in Ukraine and the rapid depreciation of the yen.」
The report noted signs of normalization following the easing of restrictions on activities, while the situation in Ukraine, high crude oil and raw material prices, and the rapid depreciation of the yen continued to make the outlook uncertain. - FY2023-Q1WorsenedAnnual report
「As the impact of COVID-19 continued for an extended period, vaccinations progressed and some signs of movement toward the normalization of social and economic activity emerged. However, the outlook remained uncertain due to high crude oil and raw material prices resulting from the prolonged situation in Russia and Ukraine, as well as the rapid depreciation of the yen.」
In addition to the ongoing pandemic and uncertainty in overseas economies, the prolonged situation in Russia and Ukraine, high crude oil and raw material prices, and the rapid depreciation of the yen were explicitly identified as sources of uncertainty in the external environment. - FY2022-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, the severe conditions caused by COVID-19 were gradually easing as vaccinations expanded. However, the outlook remained uncertain as infections with new variants spread.」
While vaccinations were easing the situation, the spread of infections with new variants added to and expanded the sources of uncertainty in the external environment. - FY2022-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, Japan's economy remained in an uncertain environment despite progress in COVID-19 vaccinations, as states of emergency continued to be issued intermittently.」
The report noted that, despite progress in vaccinations, the economic environment remained uncertain due to the intermittent issuance of states of emergency. - FY2022-Q1RestatedAnnual report
「As COVID-19 spread, economic and social activity was restricted, including through the issuance of states of emergency and priority preventive measures in some regions. Although restrictions are expected to be eased as vaccination progresses, the outlook remains uncertain.」
The report noted that restrictions on economic and social activity associated with the spread of infections and uncertainty over the outlook continued. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy suffered a sharp downturn as the global spread of COVID-19 severely restricted social and economic activity. Although signs of recovery emerged as economic activity gradually resumed, the end of the pandemic remained unforeseeable as the state of emergency was reissued amid a resurgence of infections, and uncertainty persisted.」
Restrictions on economic activity, the economic downturn, the resurgence of infections, and the reissuance of the state of emergency meant that uncertainty in the external environment persisted. - FY2021-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, Japan's economy deteriorated rapidly as the global spread of COVID-19 severely restricted social and economic activity. Although signs of recovery emerged after the state of emergency was lifted, the outlook remained uncertain as the spread of the third wave of infections continued unabated.」
The report noted that the spread of the third wave of COVID-19 could not be contained, and that restrictions on economic activity and uncertainty over the economic outlook continued. - FY2021-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, Japan's economy deteriorated rapidly as the global spread of COVID-19 severely restricted social and economic activity. Although signs of recovery emerged after the state of emergency was lifted, the economy remained in an extremely severe condition amid the resurgence of infections.」
The report noted signs of recovery after the state of emergency was lifted, while the economic environment remained extremely challenging due to the resurgence of infections. - FY2021-Q1WorsenedAnnual report
「As COVID-19 spread, economic and social activity was restricted, including through the issuance of a state of emergency declaration, and the economy experienced a sharp downturn. Similar conditions prevailed in countries around the world, and the outlook remained uncertain.」
The spread of COVID-19 resulted in restrictions on economic and social activity and a significant economic downturn, increasing uncertainty in the external environment. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery path, supported by improvements in employment and income conditions, and personal consumption recovered. However, the economic outlook became increasingly uncertain due to a succession of natural disasters, the consumption tax increase, and the spread of COVID-19.」
In addition to natural disasters and the consumption tax increase, the spread of COVID-19 was identified as a new source of uncertainty in the external environment, increasing uncertainty over the outlook. - FY2020-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, Japan's economy remained on a gradual recovery path as corporate earnings and employment conditions continued to improve. However, the economic outlook remained uncertain due to the prolonged US-China trade friction, consumer sentiment following the consumption tax rate increase, and the effects of a succession of natural disasters.」
While improvements in corporate earnings and employment conditions continued, the prolonged US-China trade friction, consumer sentiment following the consumption tax rate increase, and natural disasters were identified as sources of uncertainty in the external environment. - FY2020-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, Japan's economy remained on a gradual recovery path as corporate earnings and employment conditions continued to improve. However, uncertainty in overseas economies, including US-China trade friction and the outlook for the Chinese economy, increased, while concerns arose over the impact of natural disasters on the domestic economy, leaving the economic outlook uncertain.」
US-China trade friction, the outlook for the Chinese economy, and the impact of natural disasters were explicitly identified as new sources of uncertainty, and rising uncertainty in overseas economies was noted. - FY2020-Q1WorsenedAnnual report
「Against this economic backdrop, the Group worked under its medium-term management plan to rebuild the mat business and grow the food business. During the three-month consolidated cumulative period, the food business moved toward improvement, mainly in retort products, while the industrial materials and mat businesses continued to perform poorly.」
In addition to US-China trade friction, heightened tensions in the Middle East and concerns over the impact of the consumption tax increase were identified, broadening the sources of uncertainty in the external environment. - FY2019RestatedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery path against a backdrop of improving corporate earnings and employment and income conditions. However, the economic outlook remained uncertain due to US-China trade friction, a slowdown in the Chinese economy, and uncertainty in overseas economies.」
US-China trade friction, a slowdown in the Chinese economy, and uncertainty in overseas economies were reconfirmed as external concerns. - FY2019-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, Japan's economy remained on a gradual recovery path as improvements in employment and income conditions continued against a backdrop of strong corporate earnings. However, the economic outlook remained uncertain due to US-China trade friction, volatility in financial and capital markets, and the effects of a succession of natural disasters.」
While improvements in employment and income conditions continued, US-China trade friction, volatility in financial and capital markets, and a succession of natural disasters were identified as new sources of uncertainty in the external environment. - FY2019-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, Japan's economy remained on a gradual recovery path as corporate earnings and employment and income conditions continued to improve. However, concerns persisted over the impact of trade friction resulting from US trade policy on the global economy, leaving the outlook uncertain.」
While improvements in corporate earnings and employment and income conditions continued, trade friction resulting from US trade policy was identified as a new external concern. - FY2019-Q1RestatedAnnual report
「During the three-month consolidated cumulative period, Japan's economy remained on a gradual recovery path as corporate earnings and employment conditions improved. However, personal consumption lacked momentum amid uncertainty in overseas political and economic conditions and a preference for frugality driven by anxiety about the future, leaving the economic outlook uncertain.」
While improvements were seen in corporate earnings and employment conditions, uncertainty in overseas political and economic conditions, a preference for frugality, and weak personal consumption were reconfirmed as external concerns. - FY2018RestatedAnnual report
「However, the recovery in personal consumption still lacked momentum, and the economic outlook remained uncertain due to factors including US policy developments and heightened geopolitical risks.」
The weakness of the recovery in personal consumption, US policy developments, and geopolitical risks were reiterated as sources of uncertainty in the external environment. - FY2018-Q3RestatedAnnual report
「However, the recovery in personal consumption still lacked momentum, and the outlook remained uncertain due to factors including US policy developments and heightened geopolitical risks.」
The weakness of the recovery in personal consumption, US policy developments, and geopolitical risks were reiterated as sources of uncertainty in the external environment. - FY2018-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, Japan's economy remained on a gradual recovery path, supported by improvements in corporate earnings and employment conditions. However, the recovery in personal consumption still lacked momentum, while political uncertainty and economic uncertainty overseas remained concerns, leaving the economic outlook uncertain.」
The weakness of the recovery in personal consumption and political and economic uncertainty overseas were reiterated as external concerns. - FY2018-Q1WorsenedAnnual report
「During the three-month consolidated cumulative period ended 30 June 2017 (1 April 2017 to 30 June 2017), Japan's economy remained on a gradual recovery path against a backdrop of improving corporate earnings and employment conditions. However, personal consumption lacked momentum, and concerns over the effects of unstable political developments overseas and geopolitical risks persisted, leaving the economic outlook uncertain.」
Weak personal consumption, unstable political developments overseas, and geopolitical risks were described as external concerns. - FY2017WorsenedAnnual report
「Personal consumption remained weak, and the outlook continued to be uncertain due to uncertainty in overseas economies, including a slowdown in emerging-market economies, US policy developments, and risks in the Middle East.」
Weak personal consumption, a slowdown in emerging-market economies, US policy developments, and risks in the Middle East were described as sources of uncertainty in the external environment. - FY2017-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period ended 31 December 2016 (1 April 2016 to 31 December 2016), Japan's economy remained on a gradual recovery path, with improvements in corporate earnings and employment conditions. Personal consumption, however, remained weak, and concerns persisted over the effects of a slowdown in emerging-market economies and uncertainty surrounding the policies of the new US administration, leaving the outlook uncertain.」
Weak personal consumption, concerns over a slowdown in emerging-market economies, and uncertainty surrounding the policies of the new US administration were described as external concerns. - FY2017-Q2WorsenedAnnual report
「Against this economic backdrop, our Group worked to strengthen production and sales based on the new medium-term management plan under the theme of “expanding sales and profits.” Sales in the industrial materials and food businesses did not increase, while the mat business performed well.」
Against a backdrop of increasing international instability due to concerns over a slowdown in emerging-market economies and the UK's withdrawal from the EU, sales stagnated in the industrial materials and food businesses. - FY2017-Q1WorsenedAnnual report
「Against this economic backdrop, the Group worked to strengthen production and sales based on its new medium-term management plan, under the theme of expanding sales and profits. The industrial materials and mat businesses got off to a solid start, while the food business remained sluggish as the recovery in consumption failed to progress.」
The delayed recovery in consumption was reflected in the food business's sluggish performance. The economic environment was also described as being affected by concerns over a slowdown in emerging-market economies, the UK's withdrawal from the EU, and unstable movements in stock prices and foreign exchange rates, with growing uncertainty in the external environment. - FY2016MaterialisedAnnual report
「Meanwhile, the recovery in personal consumption lacked momentum, while raw material prices soared. Concerns over a slowdown in the Chinese economy and sharp fluctuations in stock prices and foreign exchange rates also persisted, leaving the outlook uncertain.」
The economic environment for the year was described as being marked by weak consumption, high raw material prices, concerns over the Chinese economy, and fluctuations in stock prices and foreign exchange rates.