Downside Risk to the Global Economy from Geopolitical Tensions in Asia
First written in FY2018-Q2. 9 of 27 entries say "Worsened", first in FY2019-Q1. Latest entry: FY2026.
Innovation Holdings moved to the "Worse" side of this theme in 2021, 2 years before the typical company in this theme (2023).
The whole theme swung hardest in 2022: 56 of 99 companies on the "Worse" side.
43 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The outlook remains uncertain amid the impact of US policy developments and concerns about the outlook for the situation in the Middle East, as well as risks including a downturn in overseas economies, rising prices and volatility in financial and capital markets.」
In addition to the existing concerns about US policy, overseas economies, prices and financial markets, the outlook for the situation in the Middle East was identified as a new factor clouding the outlook. - FY2025WorsenedAnnual report
「The outlook remains uncertain amid the impact of US policy developments and concerns about China's economic outlook, as well as risks including a downturn in overseas economies, rising prices and volatility in financial and capital markets.」
In addition to the existing concerns about overseas economies, prices, financial markets and the Chinese economy, the impact of US policy developments was explicitly identified. - FY2024-Q3Geopolitical risk addedAnnual report
「The outlook remains uncertain amid the impact of monetary tightening in major economies and concerns about China's economic outlook, as well as risks including a downturn in overseas economies, rising prices, volatility in financial and capital markets and geopolitical risks.」
In addition to monetary tightening, China, overseas economies, prices and financial markets, geopolitical risks were explicitly identified. - FY2024-Q2ReframedAnnual report
「The outlook remains uncertain amid continued monetary tightening in major economies and concerns about China's economic outlook, as well as risks including a downturn in overseas economies, rising prices and volatility in financial and capital markets.」
The disclosure shifted from references to supply-side constraints to recognition of risks centered on overseas economies, prices and financial markets, with concerns about China's economic outlook added. - FY2024-Q1Infectious disease risk recedes and economic normalization explicitly identifiedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy saw the spread of COVID-19 subside and economic and social activity normalize, including the change in its classification under the Infectious Diseases Act from “Category 2 equivalent” to “Category 5” in May. With the effects of various policies also supporting conditions, corporate earnings showed a gradual improvement, while employment conditions and personal consumption each showed signs of recovery.」
The disclosure shifted to describe a situation in which the spread of COVID-19 had subsided, the move to Category 5 had taken place and economic and social activity was normalizing. Meanwhile, downturns in overseas economies, financial market volatility and rising prices continued to be identified as risks. - FY2023ReframedAnnual report
「The outlook remains uncertain amid continued monetary tightening in major economies and risks including a downturn in overseas economies, volatility in financial and capital markets, rising prices and supply-side constraints.」
The focus has shifted from references to infectious diseases and restrictions on economic activity in China to recognition of risks centered on overseas economies, monetary tightening, rising prices and supply constraints. - FY2023-Q3WorsenedAnnual report
「The outlook remains uncertain amid continued monetary tightening in major economies and risks including volatility in financial and capital markets, rising prices, supply-side constraints and the impact of China's COVID-19 outbreak.」
In addition to the previously cited monetary tightening, financial market volatility, rising prices and supply constraints, the impact of China's COVID-19 outbreak was explicitly identified as a new forward-looking risk. - FY2023-Q2ReframedAnnual report
「The outlook remains uncertain amid continued monetary tightening in major economies and risks including volatility in financial and capital markets, rising prices and supply-side constraints.」
The focus of forward-looking risks has shifted from infectious diseases, the situation in Ukraine and restrictions on economic activity in China to monetary tightening in major economies, financial market volatility, rising prices and supply constraints. - FY2023-Q1WorsenedAnnual report
「The outlook remains uncertain amid concerns about the prolonged situation in Ukraine and the impact of restrictions on economic activity in China, as well as risks including soaring raw material costs, supply-side constraints and developments in financial and capital markets.」
In addition to the previously cited risks related to the situation in Ukraine, soaring raw material costs and financial and capital markets, restrictions on economic activity in China and supply-side constraints were identified as new factors of concern. - FY2022WorsenedAnnual report
「The outlook remains uncertain amid risks including the rapid spread of highly transmissible variants, soaring raw material costs and developments in financial and capital markets, as well as the intensifying situation in Ukraine from February onward.」
In addition to variants, soaring raw material costs and financial and capital markets, the intensifying situation in Ukraine from February 2022 onward was identified as a new factor clouding the outlook. - FY2022-Q3Variant risk continues as the vaccination rate approaches 80%Annual report
「The outlook remains uncertain amid risks including the rapid spread of highly transmissible variants and developments in financial and capital markets, even as the proportion of Japan's population receiving a second COVID-19 vaccine dose approaches 80%.」
Although the second-dose vaccination rate advanced from approximately 60% to just under 80%, the rapid spread of highly transmissible variants and developments in financial and capital markets continued to be identified as risks. - FY2022-Q2WorsenedAnnual report
「The outlook remains uncertain amid risks including the rapid spread of highly transmissible variants and developments in financial and capital markets, even as the proportion of Japan's population receiving a second COVID-19 vaccine dose approaches 60%.」
Although the second-dose vaccination rate has reached approximately 60%, the rapid spread of highly transmissible variants has been newly identified, highlighting infectious disease-related forward-looking risks. - FY2022-Q1Variant risk continues despite accelerated vaccinationAnnual report
「The outlook remains uncertain amid risks including the spread of highly transmissible variants and developments in financial and capital markets, even as COVID-19 vaccination accelerates in Japan.」
Although vaccination is accelerating, the spread of highly transmissible variants and developments in financial and capital markets continue to be identified as forward-looking risks. - FY2021WorsenedAnnual report
「During the fiscal year, Japan's economy entered a difficult phase as three waves of COVID-19 led to the issuance of two states of emergency. Although various measures by the government and local authorities had some effect, corporate earnings, employment conditions and personal consumption deteriorated.」
The disclosure specifies three waves of the pandemic and two states of emergency, indicating difficult economic conditions caused by deterioration in corporate earnings, employment and personal consumption. - FY2021-Q3WorsenedAnnual report
「The outlook remains uncertain amid risks related to infectious disease developments in Japan and overseas and volatility in financial and capital markets, as Japan experienced a so-called third wave from November onward, the global spread of the disease continued overseas, and the presence of highly transmissible variants was confirmed.」
In addition to the previously cited infectious disease developments and financial and capital market risks, the disclosure explicitly mentions Japan's third wave, the continuing global spread of the disease and highly transmissible variants, broadening the factors clouding the outlook. - FY2021-Q2RestatedAnnual report
「The outlook remains uncertain amid the continued global presence of what is commonly referred to as a with-COVID environment, as well as risks including developments in COVID-19 infections in Japan and overseas and volatility in financial and capital markets.」
The recognition of infectious disease developments and volatility in financial and capital markets as forward-looking risks has been reiterated on the premise that the with-COVID environment will continue. - FY2021-Q1Infectious disease and financial market developments explicitly identified as forward-looking risksAnnual report
「The outlook remains uncertain amid risks including developments in COVID-19 infections in Japan and overseas and developments in financial and capital markets.」
In addition to recognizing the economic deterioration caused by COVID-19, the disclosure explicitly identifies developments in the disease in Japan and overseas and developments in financial and capital markets as forward-looking risks. - FY2020ReframedAnnual report
「Japan's economy continued to recover moderately during the fiscal year, supported by improvements in employment and income conditions, but became extremely difficult from late February onward due to the impact of COVID-19. Conditions are also expected to remain difficult going forward due to the impact of the disease.」
The focus shifted from the previously cited geopolitical tensions, trade issues and financial market volatility to the economic deterioration caused by COVID-19 and the difficult outlook ahead. - FY2020-Q3Concern about consumer sentiment following the consumption tax rate increase addedAnnual report
「The outlook remains uncertain, and developments in consumer sentiment following the consumption tax rate increase, in addition to developments in trade issues and the impact of volatility in financial and capital markets, require close monitoring.」
In addition to the existing trade issues and volatility in financial and capital markets, developments in consumer sentiment following the consumption tax rate increase have been added as a factor requiring close monitoring. - FY2020-Q2RestatedAnnual report
「The outlook remains uncertain amid concerns about the global economy, including developments in trade issues and volatility in financial and capital markets.」
Uncertainty surrounding the global economy due to trade issues and volatility in financial and capital markets continues to be identified. - FY2020-Q1RestatedAnnual report
「The outlook remains uncertain amid concerns about the global economy, including developments in trade issues and volatility in financial and capital markets.」
Uncertainty surrounding the global economy due to trade issues and volatility in financial and capital markets continues to be identified. - FY2019RestatedAnnual report
「The outlook remains uncertain amid concerns about the global economy, including developments in trade issues and volatility in financial and capital markets.」
Uncertainty surrounding the global economy due to trade issues and volatility in financial and capital markets continues to be identified. - FY2019-Q3ReframedAnnual report
「The outlook remains uncertain amid concerns about the impact of trade issues on the global economy and the impact of volatility in financial and capital markets.」
The focus of uncertainty surrounding the global economy has shifted from references to geopolitical tensions to concerns about trade issues and volatility in financial and capital markets. - FY2019-Q1WorsenedAnnual report
「Concerns about the global economy have intensified due to risks including a contraction in global trade caused by US protectionism and its impact on financial and capital markets, leaving the outlook uncertain.」
In addition to the previously cited geopolitical tensions and other factors, the disclosure now indicates the impact of US protectionism on global trade and financial and capital markets, with heightened concern about the global economy. It does not state that the risks have actually materialized. - FY2018RestatedAnnual report
「Meanwhile, amid the impact of uncertainty surrounding the global economy, including geopolitical tensions and volatility in international financial markets, the outlook remains uncertain.」
Uncertainty surrounding the global economy due to geopolitical tensions and volatility in international financial markets continues to be identified. - FY2018-Q3RestatedAnnual report
「Meanwhile, the impact of uncertainty surrounding the global economy, including geopolitical tensions and volatility in international financial markets, remains.」
Uncertainty surrounding the global economy, including geopolitical tensions and volatility in international financial markets, is identified as a continuing risk. - FY2018-Q2First statedAnnual report
「Downside risks arising from geopolitical tensions in Asia and elsewhere remain evident.」
The disclosure states that downside risks to the global economy stemming from geopolitical tensions in Asia remain evident.