Fluctuations in Business Performance Due to Domestic and Overseas Economic Trends
First written in FY2016. 15 of 34 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026-H1.
Shoei Yakuhin moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 17 of 26 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the current interim consolidated accounting period, Japan's economy remained on a moderate recovery track, supported by improving employment and income conditions and increased inbound demand. However, the economic outlook remained uncertain due to the impact of US tariff policies on the global economy, continuing price increases and geopolitical risks related to the Russia-Ukraine situation.」
While the domestic economy is on a moderate recovery trend, uncertainty over the outlook for the domestic and overseas economies continues due to US tariff policies, persistent price increases, and geopolitical risks. - FY2025WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a moderate recovery track, supported by improved employment conditions and increased inbound demand. However, the outlook remained uncertain due to concerns over a slowdown in the global economy caused by the tariff policies of the Trump administration in the United States, a slowdown in the Chinese economy, geopolitical risks related to Russia-Ukraine and the Middle East, and the impact of higher prices associated with soaring resource costs.」
A recovery trend in the domestic economy coexists with uncertainty in the domestic and overseas economies due to US tariff policies, a slowdown in the Chinese economy, geopolitical risks, and higher resource and consumer prices. - FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period, Japan's economy remained on a moderate recovery track as economic activity normalized, supported by a recovery in personal consumption and increased inbound demand. However, the economic outlook remained uncertain due to the prolonged Russia-Ukraine situation, geopolitical risks including the situation in the Middle East, foreign exchange fluctuations and soaring prices.」
While economic activity in Japan is normalizing and the domestic economy is on a moderate recovery trend, uncertainty over the outlook for the domestic and overseas economies continues due to geopolitical risks, foreign-exchange fluctuations, soaring prices, and other factors. - FY2024RestatedAnnual report
「Following the lifting of restrictions related to COVID-19, mobility gradually normalized, and economic activity showed signs of a moderate recovery, including a recovery in inbound demand. However, the outlook remained uncertain due to geopolitical risks involving Russia-Ukraine relations and the Middle East, soaring resource prices, concerns over inflation resulting from rising prices, and the continued depreciation of the yen in foreign-exchange markets.」
The situation is described as one in which recovery in the domestic economy coexists with uncertainty in overseas economies and on the geopolitical front. - FY2024-Q3Recovery in the domestic economy and concerns over a slowdown in overseas economies coexistAnnual report
「During the third quarter of the current consolidated cumulative period, the normalization of population flows following the lifting of COVID-19 activity restrictions supported a recovery in economic activity, including the revival of leisure and inbound demand. Meanwhile, the outlook remained uncertain due to geopolitical risks related to Russia-Ukraine and the Middle East, soaring resource prices, inflation concerns arising from higher prices and concerns over a slowdown in overseas economies due to global monetary tightening.」
While the domestic economy showed signs of recovery due to the lifting of restrictions, the normalization of mobility, and the recovery of leisure and inbound demand, uncertainty over the outlook continued due to concerns over a slowdown in overseas economies, geopolitical risks, and other factors. - FY2024-Q2Normalization of the domestic economy and uncertainty in overseas economies coexistAnnual report
「During the second quarter of the current consolidated fiscal year, economic activity in Japan continued to normalize following the lifting of restrictions related to COVID-19 and was beginning to regain momentum. However, the economic outlook remained uncertain due to global monetary tightening, soaring resource prices, concerns over inflation resulting from rising prices, and the situation in Ukraine.」
While economic activity in Japan normalized following the lifting of restrictions, uncertainty over the economic outlook continued due to global monetary tightening, soaring resource prices, concerns over inflation, and the situation in Ukraine. - FY2024-Q1Normalization of economic activity and concerns over a downturn in overseas economies coexistAnnual report
「During the first quarter of the current consolidated fiscal year, economic activity in Japan continued to normalize from the COVID-19 pandemic, including the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5. However, the economic outlook remained uncertain due to a downturn in overseas economies against a backdrop of global monetary tightening, rising prices, the prolonged Russian invasion of Ukraine, and geopolitical risks.」
While normalization of economic activity in Japan progressed following the reclassification of COVID-19 to Category 5, among other factors, uncertainty over the outlook continued due to global monetary tightening, a downturn in overseas economies, rising prices, the prolonged situation in Ukraine, and geopolitical risks. - FY2023Normalization of economic activity and uncertainty in the global economy coexistAnnual report
「During the current consolidated fiscal year, despite the prolonged impact of COVID-19, economic and social activity in Japan gradually normalized as government economic support measures were implemented and restrictions on activity were eased, and the economy showed signs of a gradual recovery. However, the global economic outlook remained uncertain due to soaring resource prices and concerns over inflation resulting from the situation in Ukraine and other factors, as well as sharp foreign-exchange fluctuations.」
While economic and social activity in Japan normalized and the economy recovered as restrictions on activity were eased, uncertainty continued in the global economy due to soaring resource prices, inflation, and foreign-exchange fluctuations. - FY2023-Q3WorsenedAnnual report
「Meanwhile, the outlook for the global economy remained uncertain due to inflation concerns arising from soaring resource prices and higher prices, sharp foreign exchange fluctuations, geopolitical risks such as the situation in Ukraine and the impact on the global economy of China's easing of its zero-COVID policy.」
In addition to soaring resource prices, rising prices, sharp yen depreciation and foreign-exchange volatility, and the situation in Ukraine, the potential impact of policy easing in China on the global economy has been highlighted, broadening sources of uncertainty for the domestic and overseas economies. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current consolidated fiscal year, although infections surged during the seventh wave of COVID-19, social and economic activity showed signs of normalization as various government policies took effect and restrictions on activity were eased. Meanwhile, the global economic outlook remained uncertain due to soaring resource prices and concerns over inflation resulting from the prolonged Russia-Ukraine situation, as well as foreign-exchange volatility caused by a sharp depreciation of the yen accompanying interest-rate hikes by countries around the world.」
While normalization progressed in Japan as restrictions on activity were eased, sources of uncertainty for the domestic and overseas economies broadened due to the seventh wave of infections, soaring resource prices, inflation, interest-rate hikes, and the sharp depreciation of the yen. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, although the impact of COVID-19 continued for an extended period, economic activity showed signs of a gradual recovery as government economic support measures, including subsidies for residents, and the easing of restrictions on activity took effect. However, the outlook remained uncertain due to geopolitical risks such as the lockdown in Shanghai and the situation in Ukraine, soaring global resource prices, and concerns over inflation resulting from rising prices.」
While government support measures and the easing of restrictions led to signs of recovery, sources of uncertainty for the domestic and overseas economies broadened due to the lockdown in Shanghai, the situation in Ukraine, soaring resource prices, and concerns over inflation. - FY2022WorsenedAnnual report
「Although conditions were difficult, with social activity and personal consumption stagnating due to the state of emergency and priority preventive measures, signs of a gradual recovery began to emerge, supported by progress in vaccinations and a recovery in external demand. However, a more transmissible variant has recently emerged, and concerns have arisen over downside risks to corporate performance from soaring gasoline and raw-material prices. In addition, the outlook remains uncertain due to monetary tightening in the United States and the situation in Ukraine.」
While the domestic economy moved toward a gradual recovery, uncertainty over the outlook increased due to variants, higher gasoline and raw-material prices, monetary tightening, and the situation in Ukraine. - FY2022-Q3A moderate recovery trend and uncertainty over the outlook for the domestic economy coexistAnnual report
「During the third quarter of the current consolidated cumulative period, the economy remained affected by COVID-19 but was on a moderate recovery track, supported by a decline in new infections as vaccination rates increased, eased restrictions on going out, the effects of various government policies and improvement in overseas economies. However, the emergence of new variants such as Omicron left the outlook uncertain.」
The domestic economy is described as having moved from the previous phase of rapid deterioration and a difficult recovery to a moderate recovery trend, although uncertainty over the outlook remains due to new variants. - FY2022-Q2Moderate recovery in the domestic economy and uncertainty over the outlook coexistAnnual report
「Supported by the start of full-scale vaccination efforts and a recovery in external demand, some industries showed signs of recovery and the domestic economy was gradually recovering. However, the outlook remains uncertain due to risks of a resurgence in infections caused by variants and concerns over a slowdown in overseas economies.」
The domestic economy moved from rapid deterioration to a phase of gradual recovery, but uncertainty over the economic outlook continues due to the resurgence of infections and concerns over a slowdown in overseas economies. - FY2022-Q1Partial recovery and uncertainty over the economic outlook coexistAnnual report
「Vaccinations began in earnest in Japan and measures to prevent the spread of infections were implemented. Supported also by the effects of government economic support measures and improvement in overseas economies, some sectors showed signs of recovery. However, uncertainty remained in the global economy due to the spread of variants and rising infection numbers in Japan and overseas, as well as volatility in the financial and capital markets, and the economic outlook remained uncertain.」
The domestic and overseas economies entered a phase in which some signs of recovery were evident. However, uncertainty over the economic outlook continues due to variant viruses, rising infection numbers, and volatility in financial and capital markets. - FY2021-Q3Signs of recovery and uncertainty over the economic outlook coexistAnnual report
「During the third quarter of the current consolidated cumulative period, domestic and overseas economic activity showed signs of recovery, supported by government economic measures, despite the prolonged spread of COVID-19. However, the pandemic continued to spread worldwide, making economic recovery difficult. The outlook remained uncertain, including due to the risk of renewed infections.」
The economy moved from rapid deterioration to a phase in which domestic economic activity showed signs of recovery. However, the recovery remains challenging due to the resurgence of infections and other factors, and uncertainty over the outlook continues. - FY2021-Q2Signs of recovery and uncertainty over the economic outlook coexistAnnual report
「During the second quarter of the current consolidated cumulative period, Japan's economy deteriorated rapidly as the spread of COVID-19 severely restricted social and economic activity. After the state of emergency was lifted, domestic economic activity showed signs of recovery, supported in part by government economic measures. However, the economic outlook remained uncertain due to concerns over a renewed spread of infections, US-China trade friction and developments in the US presidential election.」
After a rapid deterioration, the economy moved into a phase in which domestic economic activity showed signs of recovery. However, uncertainty over the outlook for the domestic and overseas economies continues due to the resurgence of infections and US-China trade friction, among other factors. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan's economy deteriorated rapidly as the global spread of COVID-19 caused domestic and overseas economic activity to stagnate and contract. The outlook remained uncertain amid concerns over second and third waves of infections.」
In addition to existing factors such as trade friction and geopolitical risks, COVID-19 caused economic activity in Japan and overseas to stagnate and contract, resulting in a rapid deterioration in economic conditions. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a moderate recovery track, supported by improving corporate earnings and employment conditions. However, as the impact of natural disasters such as typhoons and the consumption tax increase weakened personal consumption, and exports stagnated due to US-China trade friction, the economic downturn intensified and the outlook for domestic and overseas economies became increasingly uncertain due to the global spread of COVID-19.」
While the domestic economy showed signs of recovery, uncertainty surrounding the domestic and overseas economies increased further due to natural disasters, the consumption tax increase, US-China trade friction, and COVID-19. - FY2020-Q3WorsenedAnnual report
「During the third quarter of the current consolidated cumulative period, Japan's economy remained on a moderate recovery track, supported by improving corporate earnings and employment conditions. However, the economic outlook remained uncertain due to prolonged US-China trade friction, the UK's departure from the EU and heightened geopolitical risks in the Middle East.」
While the domestic economy is on a moderate recovery trend, uncertainty over the outlook for the domestic and overseas economies continues due to prolonged US-China trade friction, the United Kingdom’s withdrawal from the EU, and geopolitical risks in the Middle East. - FY2020-Q2WorsenedAnnual report
「Meanwhile, the economic outlook remained uncertain due to concerns over a decline in consumption following the consumption tax increase, US-China trade friction and the UK's departure from the EU.」
While the domestic economy is showing signs of recovery, specific sources of uncertainty for the domestic and overseas economies are identified, including concerns over a decline in consumption following the consumption tax increase, US-China trade friction, and issues surrounding the United Kingdom’s withdrawal from the EU. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan's economy remained uncertain. Corporate earnings were solid, employment conditions improved and personal consumption showed resilience, supported in part by special demand during the extended holiday period. However, uncertainty increased due to intensifying US-China trade friction, the UK's departure from the EU, concerns that the yen's appreciation would weaken corporate earnings and a slowdown in overseas economies.」
While the domestic economy remains firm, uncertainty over the economic outlook has increased due to US-China trade friction, the United Kingdom’s withdrawal from the EU, the trend toward a stronger yen, and a slowdown in overseas economies. - FY2019-Q3WorsenedAnnual report
「However, the global economy remains uncertain due to the intensification of US-China trade friction and issues surrounding the United Kingdom’s withdrawal from the EU.」
The intensification of US-China trade friction is explicitly identified as a source of uncertainty for the global economy, alongside the United Kingdom’s withdrawal from the EU, and concerns over the outlook for the domestic and overseas economies continue. - FY2019-Q2WorsenedAnnual report
「However, the global economy remains uncertain due to the intensification of US-China trade friction resulting from the US administration’s growing protectionism.」
The growing protectionism of the United States and the intensification of US-China trade friction are newly specified, with continued uncertainty in the global economy noted. - FY2019-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery trend, supported by the government’s economic measures and steady global growth, with improvements in corporate earnings and the employment environment. However, personal consumption had yet to achieve a full-fledged recovery, and concerns remained over the impact on the global economy of trade friction resulting from the US administration’s growing protectionism. Consequently, the economic outlook remained uncertain.」
The domestic economy is described as being on a moderate recovery trend, while noting that personal consumption has yet to achieve a full-fledged recovery and that concerns over the impact on the global economy from the US administration’s growing protectionism and trade friction have left the outlook uncertain. - FY2018RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a moderate recovery track as corporate earnings and employment conditions improved amid a continuing global economic recovery. Although personal consumption remained sluggish, there were signs of recovery. However, unstable factors remained, including uncertainty in overseas economies, led by the United States, and developments in the financial and capital markets, while uncertainty regarding the economic outlook due to geopolitical risks such as the situations in Syria and North Korea continued.」
The domestic economy is described as being on a moderate recovery trend, while continued uncertainty over the outlook due to overseas economies, financial and capital markets, and geopolitical risks is noted. - FY2018-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, Japan's economy remained on a moderate recovery track. Although personal consumption continued to stagnate, corporate performance improved across a broad range of industries, and employment and income conditions improved gradually. However, uncertainty regarding the outlook persisted due to geopolitical risks such as the North Korea issue, the US administration's policies and operations, and concerns over a sharp slowdown in the Chinese economy.」
It explains that, while Japan's economy remained on a moderate recovery track, uncertainty regarding the outlook continued due to sluggish personal consumption, geopolitical risks, political developments in the United States and concerns over the Chinese economy. - FY2018-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, Japan's economy remained on a moderate recovery track, as employment and income conditions continued to improve gradually, personal consumption showed signs of recovery, and corporate earnings and capital investment became solid. However, the outlook remained uncertain due to geopolitical risks, including rising tensions on the Korean Peninsula, political developments in the United States and concerns over a sharp slowdown in the Chinese economy.」
It describes Japan's economy as being on a moderate recovery track while stating that uncertainty regarding the outlook continues due to geopolitical risks and concerns over the Chinese economy. - FY2018-Q1RestatedAnnual report
「Although employment and income conditions continued to improve gradually, personal consumption remained sluggish, improvement in corporate earnings stalled, and uncertainty remained regarding the outlook for the Chinese and emerging-market economies and developments in the United States and Europe, leaving the economic outlook uncertain.」
It states that uncertainty regarding the economic outlook has continued due to sluggish personal consumption, stalled improvement in corporate earnings and uncertainty in the domestic and overseas economies. - FY2017RestatedAnnual report
「The economic outlook remained uncertain due to new policies following a change of administration in the United States, the UK's departure from the EU and a slowdown in emerging-market economies.」
It identifies uncertainty in domestic and overseas economic conditions due to the change of administration in the United States, the UK's departure from the EU and a slowdown in emerging-market economies. - FY2017-Q3WorsenedAnnual report
「Uncertainty increased due to issues including the UK's departure from the EU, the impact of the US presidential election, sharp foreign exchange fluctuations and an economic slowdown in emerging Asian economies, led by China, and the outlook for the economy remained uncertain.」
It explains that uncertainty increased due to the UK's departure from the EU, the US presidential election, sharp foreign exchange fluctuations and an economic slowdown in emerging Asian economies. - FY2017-Q2RestatedAnnual report
「The economic outlook remained uncertain.」
It continues to identify uncertainty regarding the domestic and overseas economic outlook. - FY2017-Q1WorsenedAnnual report
「Concerns about downside risks to corporate earnings from yen appreciation intensified. In addition to concerns about an economic slowdown in emerging Asian economies, particularly China, the issue of the UK's withdrawal from the EU became a further factor behind yen appreciation and falling share prices, and the economic outlook remained uncertain.」
Regarding domestic and overseas economic risks, it identifies growing concerns over yen appreciation, an economic slowdown in emerging Asian economies and uncertainty caused by the UK's departure from the EU. - FY2016First statedAnnual report
「Although the Group's results are relatively less susceptible to the performance of individual industrial sectors, they are directly and indirectly affected by overall domestic economic trends and economic conditions in overseas countries.」
It explains that, although the Group operates across multiple industries, it is affected by overall economic conditions in Japan and overseas.