Risks related to economic and social conditions, including TPP
First written in FY2016. 13 of 23 entries say "Restated". Latest entry: 2026-10-14.
Delica Foods Holdings moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 104 of 134 companies on the "Worse" side.
16 other companies' latest entry also says "Materialised".
- FY2026-H1RestatedAnnual report
「At the same time, the economic outlook remains uncertain due to the continuing geopolitical risks, persistently high prices, particularly for energy, and the impact of US trade policy.」
The disclosure continues to cite geopolitical risks, persistently high prices across the board, and economic uncertainty stemming from U.S. trade policy. - FY2024-Q3WorsenedAnnual report
「At the same time, the outlook remains uncertain because of risks that could weigh on the economy, including higher prices resulting from the Russia-Ukraine and Israel-Palestine situations and the impact of global monetary tightening.」
In addition to the existing Russia-Ukraine situation and monetary tightening, the Group newly identifies higher prices resulting from the Israel-Palestine situation as a downside risk to the economy. - FY2024-Q2WorsenedAnnual report
「At the same time, the outlook remains uncertain because of risks that could weigh on the economy, including higher prices, particularly energy prices, resulting from the prolonged Russia-Ukraine situation, the impact of global monetary tightening and concerns over the future of the Chinese economy.」
In addition to the existing geopolitical, inflation and yen depreciation factors, the Group explicitly identifies global monetary tightening and concerns over the future of the Chinese economy as downside risks. - FY2024-Q1RestatedAnnual report
「At the same time, the economic outlook remains uncertain due to the impact of higher prices, including energy prices, resulting from the prolonged Russia-Ukraine situation and the trend toward yen depreciation.」
The Group continues to disclose uncertainty over the economic outlook arising from the Russia-Ukraine situation, higher prices and the trend toward yen depreciation. - FY2023-Q2WorsenedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economy remained uncertain as economic activity was constrained by the spread of COVID-19, while price increases caused by Russia's invasion of Ukraine and the depreciation of the yen intensified.」
The Group identifies the intensification of price increases and yen depreciation, in addition to the existing pandemic and geopolitical risks, as downside factors for the economy. - FY2023-Q1WorsenedAnnual report
「However, attention must also be paid to risks that could weigh on the domestic economy, such as surging raw material prices due to the prolonged situation in Ukraine and rising import prices resulting from foreign exchange fluctuations, and the outlook remains uncertain.」
In addition to the existing overseas economic and geopolitical uncertainties, the Group explicitly identifies the prolonged situation in Ukraine, surging raw material prices and higher import prices resulting from foreign exchange fluctuations as new downside factors. - FY2022WorsenedAnnual report
「Although the spread of COVID-19 is currently slowing, the situation remains unpredictable. In addition, there are downside risks to the economy from rising global raw material prices and the impact of yen depreciation, and uncertainty is expected to continue.」
In addition to the existing overseas economic and geopolitical uncertainties, the Group explicitly identifies rising global raw material prices, yen depreciation and the renewed spread of COVID-19 as downside factors for the economy. - FY2022-Q3WorsenedAnnual report
「However, the outlook for the operating environment remains uncertain due to the renewed spread of infections caused by the Omicron variant and rising raw material prices associated with global inflation.」
New specific factors contributing to uncertainty in overseas and domestic economies are identified: the renewed spread of infections caused by the Omicron variant and rising raw material prices associated with global inflation. - FY2021-Q3WorsenedAnnual report
「From December onward, infections increased sharply nationwide, resulting in what was called the third wave of infections, and the outlook for the economy and economic activity remained extremely uncertain. The timing of the end of the COVID-19 pandemic remains difficult to predict, and severe conditions for economic activity are expected to continue.」
The Group states that the third wave of infections intensified uncertainty over the economic outlook and that it remains impossible to foresee when the pandemic will end. - FY2020-Q3RestatedAnnual report
「At the same time, the economic outlook remains uncertain due to the prolonged US-China trade and Japan-South Korea issues, the UK's withdrawal from the EU and rising geopolitical risks, including conditions in the Middle East.」
The Group continues to disclose uncertainty over the economic outlook arising from overseas political and economic conditions and geopolitical risks. - FY2020-Q2RestatedAnnual report
「At the same time, the economic outlook remains uncertain due to the prolonged US-China trade friction, the slowdown in the Chinese economy, deterioration in Japan-South Korea relations and the impact of the consumption tax increase implemented from October.」
The Group continues to disclose uncertainty over the economic outlook arising from overseas political and economic conditions and domestic policy, citing US-China trade friction, the Chinese economy, Japan-South Korea relations and the consumption tax increase as specific factors. - FY2020-Q1RestatedAnnual report
「During the first 3 months of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve. However, the economic outlook remains uncertain due to the prolonged US-China trade friction, the slowdown in the Chinese economy and the impact of the consumption tax increase scheduled for October.」
The Group continues to disclose uncertainty arising from overseas political and economic conditions, citing the prolonged US-China trade friction, the slowdown in the Chinese economy and the impact of the consumption tax increase as specific factors. - FY2019RestatedAnnual report
「The outlook remains uncertain due to concerns over a slowdown in the global economy and the impact of US-China trade friction.」
The Group continues to identify uncertainty arising from overseas political and economic conditions, citing concerns over a slowdown in the global economy and US-China trade friction as specific factors. - FY2019-Q3RestatedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track against the backdrop of solid corporate earnings and improving income and employment conditions. However, the economic outlook remains uncertain due to uncertainty in overseas economies, including the impact of US-China trade issues on the global economy and the UK's withdrawal from the European Union.」
The Group continues to identify uncertainty over the economic outlook arising from uncertainty in overseas economies, citing US-China trade issues and the UK's withdrawal from the EU as specific factors. - FY2019-Q1RestatedAnnual report
「During the first 3 months of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track as corporate earnings and employment conditions continued to improve. However, the economic outlook remains uncertain due to overseas political and economic uncertainty, including concerns over global trade friction, particularly between the US and China.」
The Group continues to identify uncertainty arising from overseas political and economic conditions as a risk, citing global trade friction, particularly between the US and China, as a specific factor. - FY2018RestatedAnnual report
「Among the political and economic conditions surrounding the Group, the Group recognizes geopolitical risks in East Asia, the safety of imported food ingredients, and developments concerning the US withdrawal from or return to the TPP as risks arising from overseas political and economic conditions.」
The Group continues to identify geopolitical risks in East Asia, the safety of imported food ingredients and developments concerning the TPP in the US as sources of uncertainty in economic and social conditions. - FY2018-Q3RestatedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, Japan's economy remained on a gradual recovery track, supported by a pickup in personal consumption against the backdrop of recovering corporate earnings and improving employment conditions, as well as firm demand for capital investment. However, the economic outlook remains uncertain due to concerns over protectionist policy developments in the US and rising geopolitical risks in East Asia.」
The Group continues to disclose uncertainty over the economic outlook due to US policy developments and geopolitical risks in East Asia. - FY2018-Q2RestatedAnnual report
「At the same time, uncertainty is increasing due to concerns over future policy developments under the Trump administration in the US and rising geopolitical risks in East Asia, and the economic outlook remains uncertain.」
The Group continues to express concern about uncertainty surrounding economic and social conditions, citing US government policy developments and geopolitical risks in East Asia as specific factors. - FY2017ReframedAnnual report
「Among the economic and social conditions surrounding the Group, the Group recognizes the US withdrawal from the TPP following the change in the US administration and agricultural cooperative reform as issues requiring continued information gathering and a flexible response as appropriate, because their specific effects remain unclear.」
References to uncertainty in overseas economic conditions and the TPP have been changed to a discussion of responding to economic and social conditions, including the US withdrawal from the TPP and agricultural cooperative reform. - FY2017-Q3RestatedAnnual report
「The outlook for the economy remains uncertain, as overseas economic uncertainty arising from the slowdown in China and emerging economies, the UK's withdrawal from the EU and the US presidential election has caused major fluctuations in foreign exchange rates and equity markets.」
The Group continues to disclose uncertainty arising from overseas economic and political factors, volatility in foreign exchange and equity markets, and uncertainty over the economic outlook as risks in the external environment. - FY2016First statedAnnual report
「The Group believes that the Trans-Pacific Partnership (TPP) will have a relatively minor impact on the Group. However, as the specific effects remain unclear, it recognizes the need to continue gathering information diligently and to respond flexibly as appropriate.」
While indicating that the impact would be relatively minor, the Group identifies information gathering and a flexible response as challenges because the details remain unclear.