Country Risk Associated with Overseas Operations
First written in FY2016. 4 of 10 entries say "Restated". Latest entry: 2026-08-03.
Seiren moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
78 other companies' latest entry also says "Restated".
- 2026-08-03RestatedRevision of earnings forecasts
「Meanwhile, due to heightened geopolitical risks, including developments in U.S. trade policy and the situation in the Middle East, rising prices, persistently high energy and raw-material prices, and fluctuations in foreign exchange rates, uncertainty about the outlook remained.」
The company continues to identify U.S. trade policy, geopolitical risks including the situation in the Middle East, high prices and costs, and foreign exchange fluctuations as sources of uncertainty. - FY2026WorsenedAnnual report
「Various country risks are inherent due to changes in each country's laws and tax systems, changes in political, social and economic conditions, including developments in trade and tariff policies, and the emergence of geopolitical risks.」
In addition to changes in political, social and economic conditions, the disclosure explicitly identifies trade and tariff policies and the emergence of geopolitical risks. - 2026-05-13WorsenedEarnings
「Meanwhile, amid rising prices, persistently high energy and raw-material prices, and exchange rates remaining at yen depreciation levels due to developments in U.S. trade and economic policy and heightened geopolitical risks, including the situation in the Middle East, downside risks to the economy remained, resulting in continued uncertainty about the outlook.」
The company explicitly identified U.S. trade and economic policy, the situation in the Middle East, and geopolitical risks as sources of uncertainty surrounding its overseas activities and the international environment. - FY2025ReframedAnnual report
「To support globalization, the Group has established subsidiaries overseas, including in the United States, Brazil, Thailand, China, India, Indonesia, Mexico and Hungary, where it conducts manufacturing and sales activities. However, these regions and countries are subject to various inherent country risks arising from changes in each country's laws and tax systems, and changes in political, social and economic conditions.」
The description of risks associated with overseas operations has been reorganized from a focus on political and social unrest to wording that includes changes in laws and tax systems and in political, social and economic conditions. - FY2024WorsenedAnnual report
「To support globalization, the Group has established subsidiaries overseas, including in the United States, Brazil, Thailand, China, India, Indonesia, Mexico and Hungary, where it conducts manufacturing and sales activities. However, these regions and countries are subject to various inherent country risks, including political problems and social unrest such as riots, terrorism, demonstrations and infectious diseases.」
Hungary has been explicitly added to the regions subject to risks associated with overseas operations. - FY2023RestatedAnnual report
「Various country risks are inherent, including political problems and social unrest such as riots, terrorism, demonstrations and infectious diseases. The Group collects information through internal and external organizations and works to prevent and avoid these risks, but such events may occur on a scale beyond the company's expectations.」
The company continues to address the risks of political and social unrest associated with overseas locations, along with prevention and avoidance measures through information gathering. - FY2021RestatedAnnual report
「Various country risks are inherent, including political problems and social unrest such as riots, terrorism, demonstrations and infectious diseases. The Group collects information through internal and external organizations and works to prevent and avoid these risks.」
The company continues to disclose the risks of political and social unrest associated with overseas locations, as well as prevention and avoidance measures through information gathering. - FY2020WorsenedAnnual report
「To support globalization, the Group has established subsidiaries overseas, including in the United States, Brazil, Thailand, China, India, Indonesia and Mexico, where it conducts manufacturing and sales activities. However, these regions and countries are subject to various inherent country risks, including political problems and social unrest such as riots, terrorism, demonstrations and infectious diseases.」
The disclosure has been expanded to explicitly include riots, terrorism, demonstrations and infectious diseases, in addition to the previously stated political and social problems, broadening the scope of risks associated with overseas operations. - FY2019RestatedAnnual report
「To support globalization, the Group has established subsidiaries overseas, including in the United States, Brazil, Thailand, China, India, Indonesia and Mexico, where it conducts manufacturing and sales activities. However, these regions and countries may give rise to country risks, such as unforeseen political and social problems.」
The company continues to disclose country risks related to political and social problems at its overseas locations. - FY2016First statedAnnual report
「To support globalization, the Group has established subsidiaries overseas, including in the United States, Brazil, Thailand, China, India, Indonesia and Mexico, where it conducts manufacturing and sales activities. However, these regions and countries may give rise to country risks, such as unforeseen political and social problems.」
The Group is exposed to political and social risks as its overseas footprint expands.