Downside risk to economic conditions originating overseas
First written in FY2017-Q2. 14 of 26 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
66 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Japan's economy during the fiscal year was a year in which uncertainty increased amid a range of complex factors, including instability in the global economy originating from political conditions in the United States, widening regional disparities also associated with persistent international price increases, and global energy and environmental issues whose outlook could not be described as bright.」
The company continues to identify U.S. political conditions, rising prices, regional disparities, and energy and environmental issues as complex sources of uncertainty in the overseas and domestic economic environment. - FY2026-H1Explicitly identified U.S. trade policy and wars and conflictsAnnual report
「Japan's economy during the interim accounting period remained in a complex and uncertain situation, owing to unstable international political conditions involving ongoing wars and conflicts, uncertainty over the future of U.S. trade policy, rising prices in Japan and overseas, widening regional disparities, and global energy and environmental issues.」
Regarding economic risks originating overseas, the company explicitly identifies wars and conflicts and U.S. trade policy, in addition to international conditions, rising prices, regional disparities, and energy and environmental issues, as sources of uncertainty. - FY2025Added U.S. political conditions, regional disparities, and energy and environmental issuesAnnual report
「Japan's economy during the fiscal year was a year in which uncertainty increased amid a range of complex factors, including instability in the global economy originating from political conditions in the United States, widening regional disparities also associated with persistent international price increases, and global energy and environmental issues whose outlook could not be described as bright.」
In addition to the previously cited international conditions, weak yen and inflation, the company lists political conditions in the United States, regional disparities, and global energy and environmental issues as sources of uncertainty in the economic environment. - FY2025-H1Added VUCA, political conditions and the stock marketAnnual report
「The outlook remains highly uncertain, with international conditions in the Middle East and Ukraine showing no sign of resolution, unstable political conditions in the United States and Japan, and an unstable stock market experiencing sharp fluctuations. It can still be described as an era of so-called VUCA: Volatility, Uncertainty, Complexity and Ambiguity.」
The company explicitly identifies international conditions overseas, political conditions in the United States and Japan, the unstable stock market, and the uncertainty summarized by VUCA as sources of uncertainty in the economic environment. - FY2024-Q3Added energy and environmental issuesAnnual report
「During the cumulative first three quarters, Japan's economy remained affected by a range of complex factors, including the persistently weak yen, global inflation, rising domestic prices, unstable international conditions, and energy and environmental issues on a global scale. Although business sentiment showed some improvement, there was also a divergence from sentiment among households, and overall conditions, including the outlook, could not be described as strong.」
The company lists the weak yen, inflation, rising prices, unstable international conditions, and global energy and environmental issues as sources of uncertainty in the economic environment. It also refers to some improvement in business sentiment. - FY2024-Q2Resolution of the semiconductor shortage and improvement in conditions in some industries addedAnnual report
「During the cumulative second-quarter period, Japan's economy was affected by a range of interrelated factors, including yen depreciation, global inflation, rising prices resulting from higher raw-material and other input costs, and the resolution of the semiconductor shortage. Although some industries saw improved business conditions, the economy as a whole could not be described as prosperous, including in terms of the outlook.」
While citing the weaker yen, inflation, rising raw material prices, the easing of the semiconductor shortage and improving business sentiment in some industries, the company indicated that the economy as a whole could not be described as strong. - FY2024-Q1Global economy and rising prices explicitly statedAnnual report
「During the cumulative first-quarter period, Japan's economy was not yet in a position that could be described as experiencing a gradual recovery, amid a sluggish global economy and rising prices resulting from increases in the prices of raw materials and other goods internationally, despite firm capital investment and so-called revenge consumption following the COVID-19 environment.」
The filing explicitly identifies the sluggish global economy, higher raw-material prices and rising prices as overseas-originated downside and uncertainty factors. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan's economy was in an uncertain global and domestic economic environment amid further yen depreciation, inflation concerns and the increasingly tense situation in Ukraine.」
The filing continues to identify yen depreciation, inflation concerns and the situation in Ukraine as factors making the domestic and overseas economic outlook uncertain. - FY2023-Q1Rapid yen depreciation addedAnnual report
「During the cumulative first-quarter period, Japan's economy was in an uncertain global and domestic economic environment amid rapid yen depreciation, inflation concerns, the continuing spread of COVID-19, which repeatedly expanded and subsided without ending, and unstable international conditions resulting from Russia's invasion of Ukraine.」
In addition to the previously cited COVID-19, the Russia-Ukraine situation and inflation concerns, the filing newly identifies rapid yen depreciation as a factor making the domestic and overseas economic outlook uncertain. - FY2022Russia-Ukraine situation and inflation concerns addedAnnual report
「The economic environment remained uncertain both globally and domestically, amid concerns about global inflation arising from the increasingly unstable international situation caused by Russia's invasion of Ukraine, in addition to the continued spread of COVID-19, which had yet to subside.」
The filing newly identifies Russia's invasion of Ukraine and the resulting concerns about global inflation as factors making the overseas economic environment and economic outlook uncertain. - FY2022-Q3Additional overseas-originated factors making the outlook uncertainAnnual report
「During the cumulative third-quarter period, uncertainty continued amid ongoing efforts to stabilise society while living with COVID-19, which still showed no sign of subsiding either globally or in Japan due to the emergence of new variants. The situation also remained unstable in light of uncertainty surrounding unstable supplies of raw materials, components and crude oil, tighter US monetary policy and possible changes in global conditions after the Beijing Olympics.」
The filing newly identifies tighter US monetary policy and possible changes in global conditions after the Beijing Olympics as factors making the overseas economic environment uncertain and creating downside risks. - FY2021-Q3WorsenedAnnual report
「During the cumulative third-quarter period, Japan's economic outlook remained uncertain amid an increasingly widespread resurgence of COVID-19, described as the country's second wave, stagnation and deterioration in economic activity, and unstable and difficult-to-predict economic conditions in Japan and overseas while the end of the pandemic remained out of sight.」
The filing explicitly identifies the resurgence of COVID-19 in Japan, economic stagnation and deterioration, and the lack of a clear end to the pandemic as downside risks to domestic and overseas economies. - FY2021-Q1WorsenedAnnual report
「During the cumulative first-quarter period, Japan's economic outlook remained uncertain amid stagnation and deterioration in domestic economic conditions caused by the wide-ranging effects of the spread of COVID-19, which began in the fourth quarter of the previous fiscal year; an unstable and difficult-to-predict international economy; and further economic risks between the US and China triggered by the Hong Kong issue.」
The filing identifies the stagnation and deterioration of the domestic economy caused by COVID-19, uncertainty in the international economy and economic risks between the US and China triggered by the Hong Kong issue as new downside factors. - FY2020RestatedAnnual report
「During the fiscal year, Japan's economy remained on a sustained and firm trend supported by a certain level of domestic and external demand. However, the outlook also remained uncertain due to downside risks originating overseas from international conditions involving the US and China, the US and North Korea, and the Middle East, which had existed since the beginning of the fiscal year, as well as the spread of COVID-19 starting in the fourth quarter of the fiscal year.」
Downside risks to the economy originating overseas from international conditions involving the US and China, the US and North Korea, and the Middle East continued. COVID-19 is addressed in a separate thread. - FY2020-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy remained on a sustained and firm trend supported by a certain level of domestic and external demand, although the outlook remained uncertain due to downside risks originating overseas from international conditions involving the US and China, the US and North Korea, and the Middle East.」
The filing continues to identify downside risks to the economy originating overseas from unstable international conditions involving the US and China, the US and North Korea, and the Middle East, as well as uncertainty about the outlook. - FY2020-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan's economy remained on a sustained and firm trend supported by a certain level of domestic and external demand, although the outlook remained uncertain due to downside risks originating overseas from unstable international conditions.」
The filing continues to identify downside risks to the economy originating overseas from unstable international conditions and the resulting uncertainty about the outlook. - FY2020-Q1RestatedAnnual report
「During the cumulative first-quarter period, Japan's economy remained on a sustained and firm trend supported by a certain level of domestic and external demand, although the outlook remained uncertain due to downside risks originating overseas from unstable international conditions surrounding the US, Iran, China, South Korea and North Korea.」
The filing continues to identify downside risks to the economy and uncertainty about the outlook arising from unstable international conditions overseas. - FY2019-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy remained on a sustained, gradual and firm trend, although it was also exposed to downside risks originating overseas from trade friction between the US and China, international conditions involving North Korea and South Korea, foreign-exchange markets, crude oil prices and overseas stock markets.」
The filing identifies US-China trade friction, international conditions involving North Korea and South Korea, foreign-exchange markets, crude oil prices and overseas stock markets as factors behind downside risks originating overseas, and reiterates the uncertainty of the outlook. - FY2019-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan's economy remained on a sustained, gradual and firm trend, although it was also exposed to downside risks originating overseas from international conditions, including trade friction between the US and China, foreign-exchange markets and overseas stock markets.」
The filing reiterates trade friction between the US and China, foreign-exchange markets and overseas stock markets as factors behind downside risks to the economy. - FY2019-Q1RestatedAnnual report
「During the cumulative first-quarter period, Japan's economy continued to trend steadily and gradually higher, supported by firm domestic and external demand. However, the outlook remained uncertain due to downside risks originating overseas from unstable international conditions, including trade friction between the US and China.」
The filing identifies unstable international conditions, including trade friction between the US and China, as factors behind downside risks originating overseas and reiterates the uncertain outlook. - FY2018RestatedAnnual report
「During the fiscal year, Japan's economy continued to trend steadily and gradually higher in production, exports, employment and household finances, supported by firm domestic and external demand. However, the outlook remained uncertain due to downside risks to the economy originating overseas from continued instability in international affairs.」
While describing the economy as being on a gradual upward trend, the filing reiterates the downside risks originating overseas from international instability and the uncertain outlook. - FY2018-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy continued to trend gradually higher, supported by rising share prices, firm domestic demand and expansion in external demand, although the outlook also remained uncertain due to increased foreign-exchange risks and uncertainty originating overseas, including the situation on the Korean Peninsula and the economic policies of the Trump administration in the US.」
The filing reiterates the situation on the Korean Peninsula, the economic policies of the Trump administration in the US and foreign-exchange risks and uncertainty originating overseas as factors making the outlook uncertain. - FY2018-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan's economy continued a gradual recovery supported by firm domestic demand and expansion in external demand, although the outlook also remained uncertain due to increased foreign-exchange risks and uncertainty originating overseas, including the situation on the Korean Peninsula and the economic policies of the Trump administration in the US.」
The filing reiterates the situation on the Korean Peninsula, the economic policies of the Trump administration in the US and foreign-exchange risks and uncertainty originating overseas as factors making the outlook uncertain. - FY2018-Q1RestatedAnnual report
「During the cumulative first-quarter period, Japan's economy continued a gradual recovery, supported by inbound demand from an increase in visitors to Japan and the Government's economic measures. However, the outlook remains uncertain amid concerns about an economic slowdown resulting from increased foreign-exchange risks and uncertainty originating overseas, including the situation on the Korean Peninsula, the economic policies of the Trump administration in the US and the UK's withdrawal from the EU.」
The filing identifies the situation on the Korean Peninsula, the economic policies of the Trump administration in the US, the UK's withdrawal from the EU and foreign-exchange risks as overseas-originated downside risks, and reiterates the uncertain outlook. - FY2017-Q3RestatedAnnual report
「The outlook remains uncertain due to downside risks to the economy originating overseas, including the slowdown in the Chinese economy, instability in the Middle East, the UK's withdrawal from the EU and future economic policies following the US presidential election.」
In addition to the Chinese economy, the situation in the Middle East and the UK's withdrawal from the EU, the filing identifies economic policies following the US presidential election as an overseas-originated downside factor and reiterates the uncertain outlook. - FY2017-Q2First statedAnnual report
「The outlook remains uncertain due to downside risks to the economy originating overseas, including the slowdown in the Chinese economy, instability in the Middle East and the UK's withdrawal from the EU.」
The filing identifies the slowdown in the Chinese economy, the situation in the Middle East and the UK's withdrawal from the EU as factors making the outlook uncertain for the first time.