Uncertain outlook due to yen appreciation and instability in overseas economies
First written in FY2017-Q1. 16 of 35 entries say "Restated". Latest entry: 2026-08-07.
Systems Design moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 129 of 170 companies on the "Worse" side.
69 other companies' latest entry also says "Restated".
- 2026-08-07RestatedResults
「また、金融資本市場の変動の影響などにも注意する必要があります。」
金融資本市場の変動と中東情勢を外部環境上の懸念として継続して記載している。 - FY2026WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of a gradual recovery, supported by rising personal consumption driven by wage increases and a trend toward higher capital investment backed by strong corporate earnings. However, the outlook remains uncertain due to rising tensions surrounding US tariff policy and the situation in the Middle East, as well as higher prices resulting from the weaker yen. Attention must also be paid to the effects of volatility in financial and capital markets.」
In addition to the overseas economic outlook, rising prices and volatility in financial and capital markets, the filing identifies US tariff policy and heightened tensions in the Middle East as sources of external uncertainty. - 2026-05-08RestatedResults
「米国の関税政策や中東情勢等の緊迫化、円安の影響による物価上昇により先行きが不透明な状況が続いております。また、金融資本市場の変動等の影響に注意する必要があります。」
米国の通商政策、中東情勢、円安・物価上昇、金融資本市場の変動を事業環境上の不透明要因として継続している。 - FY2026-H1RestatedAnnual report
「Looking ahead, a gradual recovery is expected to continue due to improvements in the employment and income environment and the effects of various policies. Meanwhile, downside risks to the economy are a concern, including the impact of US trade policy and the impact on personal consumption through lower consumer sentiment resulting from rising prices. Continued attention is also required regarding the effects of volatility in financial and capital markets.」
US trade policy, rising prices, the impact on personal consumption and volatility in financial and capital markets continue to be identified as downside factors for the economy. No significant changes are reported regarding business and other risks. - FY2025WorsenedAnnual report
「During the fiscal year, the Japanese economy was expected to recover gradually, supported by the effects of various policies as the employment and income environment improved gradually. Meanwhile, downside risks to the economy have increased due to the impact of US trade policy. In addition, the continued rise in prices may affect personal consumption through a deterioration in consumer sentiment and other factors, posing a downside risk to the Japanese economy. Closer attention must also be paid to the effects of volatility in financial and capital markets.」
In addition to the previously reported sluggish overseas economies, monetary tightening and rising prices, the downside risk to the economy from US trade policy is explicitly identified. - FY2025-H1WorsenedAnnual report
「Meanwhile, a downturn in overseas economies, including the effects of continued high interest rates in Europe and the United States and concerns over the outlook for the Chinese economy, poses a downside risk to the Japanese economy. Sufficient attention must also be paid to the effects of rising prices, the situation in the Middle East and volatility in financial and capital markets.」
In addition to the previously reported sluggish overseas economies, the Chinese economy, rising prices and volatility in financial and capital markets, continued high interest rates and the situation in the Middle East are identified as new sources of uncertainty. - FY2024-Q3WorsenedAnnual report
「During the nine-month period ended 31 December, the Japanese economy showed signs of a gradual recovery, including improvements in the employment and income environment. Meanwhile, a sluggish overseas economy, including the effects of global monetary tightening and concerns over the outlook for the Chinese economy, poses a downside risk to the Japanese economy. Sufficient attention must also be paid to the effects of higher prices resulting from surging raw material costs, volatility in financial and capital markets, and the Noto Peninsula Earthquake on the economy.」
In addition to the previously reported global monetary tightening, sluggish overseas economies, the Chinese economy, higher prices and volatility in financial and capital markets, the economic impact of the Noto Peninsula Earthquake is explicitly identified. - FY2024-Q2WorsenedAnnual report
「During the six-month period ended 30 September, the Japanese economy showed signs of a gradual recovery as economic and social activity normalized following the easing of COVID-19 restrictions, including improvements in the employment and income environment. Meanwhile, a sluggish overseas economy, including the effects of global monetary tightening and concerns over the outlook for the Chinese economy, poses a downside risk to the Japanese economy. Sufficient attention must also be paid to the effects of higher prices resulting from surging raw material costs and volatility in financial and capital markets.」
In addition to global monetary tightening, a sluggish overseas economy, surging raw material costs, higher prices and volatility in financial and capital markets, concerns over the outlook for the Chinese economy are explicitly identified, broadening the external environment concerns. - FY2024-Q1RestatedAnnual report
「However, as global monetary tightening and other factors continue, a sluggish overseas economy poses a downside risk to the Japanese economy. Sufficient attention must also be paid to the effects of rising prices and volatility in financial and capital markets.」
Global monetary tightening, a sluggish overseas economy, rising prices and volatility in financial and capital markets continue to be identified as external environment risks. - FY2023-Q3WorsenedAnnual report
「Meanwhile, as global monetary tightening and other factors continue, a downturn in overseas economies poses a downside risk to the Japanese economy. Sufficient attention must also be paid to the effects of rising prices, supply-side constraints, volatility in financial and capital markets, and the spread of COVID-19 in China, and uncertainty about the outlook remains.」
In addition to global monetary tightening, a downturn in overseas economies, rising prices, supply constraints and volatility in financial and capital markets, the spread of COVID-19 in China is explicitly identified as an external environment concern. - FY2023-Q2WorsenedAnnual report
「Meanwhile, as global monetary tightening continues, a downturn in overseas economies poses a downside risk to the Japanese economy. Sufficient attention must also be paid to supply-side constraints and volatility in financial and capital markets.」
In addition to the previously reported COVID-19 pandemic, situation in Ukraine and rising raw material prices, global monetary tightening, a downturn in overseas economies, supply constraints and volatility in financial and capital markets are explicitly identified, broadening the external environment risk factors. - FY2023-Q1WorsenedAnnual report
「During the three-month period ended 30 June, the Japanese economy showed signs of recovery as economic and social activity normalized, partly due to the effects of measures to combat COVID-19. However, attention must be paid to downside risks from rising raw material prices and supply-side constraints caused by the prolonged situation in Ukraine, as well as volatility in financial and capital markets, and sufficient attention must also be paid to various risks of price increases caused by rising prices.」
In addition to the previously reported situation in Ukraine, rising raw material prices, supply constraints and volatility in financial and capital markets, various risks of price increases caused by rising prices are explicitly identified, broadening the external environment risk factors. - FY2022WorsenedAnnual report
「During the fiscal year, conditions in the Japanese economy showed signs of recovery as the severe situation caused by COVID-19 eased. Meanwhile, amid uncertainty arising from the situation in Ukraine and other factors, attention must be paid to downside risks from rising raw material prices, volatility in financial and capital markets, and supply-side constraints, while the impact of COVID-19 also continues to require close attention. Uncertainty about the outlook therefore remains.」
In addition to the previously reported COVID-19 pandemic and other factors, the situation in Ukraine, rising raw material prices, volatility in financial and capital markets, and supply-side constraints are identified as sources of uncertainty. - FY2022-Q3WorsenedAnnual report
「Meanwhile, close attention must be paid to the increasing downside risk from the spread of new COVID-19 variants and impacts transmitted through supply chains, as well as volatility in financial and capital markets, and uncertainty about the outlook remains.」
In addition to the previously reported downside risks transmitted through supply chains and volatility in financial and capital markets, the spread of new variants is explicitly identified, with uncertainty in the external environment continuing to be reported. - FY2022-Q2WorsenedAnnual report
「Meanwhile, close attention must be paid to the increasing downside risk from impacts transmitted through supply chains and volatility in financial and capital markets, and uncertainty about the outlook remains.」
In addition to the previously reported uncertainty arising from COVID-19 and overseas economies, the report identifies increasing downside risks transmitted through supply chains and volatility in financial and capital markets, broadening the range of external risk factors. - FY2022-Q1MaterialisedAnnual report
「Meanwhile, the impact of infection trends on domestic and overseas economies requires close attention, and uncertainty about the outlook continues.」
Uncertainty about the economic outlook due to COVID-19 continues to be reported. While demand related to digital transformation is expanding, cautious moves regarding IT investment are also noted. - FY2021MaterialisedAnnual report
「The COVID-19 pandemic has accelerated the development of corporate telework environments and digitalization initiatives, and IT investment to adapt to the new normal has remained solid. However, concern remains that IT investment by customer companies whose earnings have deteriorated due to restrictions on economic activity may be restrained.」
Concerns over deteriorating earnings at customer companies and restrained IT investment due to COVID-19 continue, and business impacts such as order postponements are also reported. - FY2021-Q2RestatedAnnual report
「In the information services sector in which the Group operates, the COVID-19 pandemic has increased companies' willingness to strengthen digitalization efforts, including the development of telework environments. However, growth in IT investment, which had previously been solid, has become difficult to predict amid spending restraint resulting from deteriorating corporate earnings.」
Uncertainty surrounding IT investment, including deteriorating corporate earnings and spending restraint due to COVID-19, continues to be reported. - FY2021-Q1MaterialisedAnnual report
「In the information services sector in which the Group operates, the COVID-19 pandemic has strengthened companies' efforts toward digitalization, including the development of telework environments. However, growth in IT investment, which had previously been solid, has become difficult to predict as companies postpone investment decisions.」
Companies' postponement of investment decisions due to COVID-19 is described as an actual business environment factor, indicating that previously reported external environment risks have materialized. - FY2020WorsenedAnnual report
「Since the beginning of the year, economic conditions have become increasingly uncertain as the COVID-19 pandemic reduced personal consumption and constrained economic activity.」
In addition to the previously reported US-China trade friction and slowdown in the Chinese economy, reduced consumption and constrained economic activity due to COVID-19 were identified as sources of uncertainty in the external environment. - FY2020-Q3RestatedAnnual report
「Meanwhile, the economic environment remained uncertain due to the slowdown in the Chinese economy caused by US-China trade friction and the impact of the consumption tax increase on consumer trends.」
Uncertainty about the outlook due to the slowdown in the Chinese economy and the impact of the consumption tax increase on consumer trends continues to be reported. - FY2020-Q2RestatedAnnual report
「Meanwhile, uncertainty about the outlook continued due to the slowdown in the Chinese economy caused by US-China trade friction and the impact of the consumption tax increase on consumer trends.」
In addition to the slowdown in the Chinese economy, the impact of the consumption tax increase on consumer trends was identified as a source of uncertainty about the outlook. Meanwhile, the business and other risks section states that there are no new risks or significant changes. - FY2020-Q1RestatedAnnual report
「Meanwhile, although the US economy remained solid overseas, the Chinese economy showed signs of slowing due to US-China trade friction. Uncertainty about the outlook continued due to concerns over US economic policy developments and heightened geopolitical risks.」
The slowdown in the Chinese economy, concerns over US economic policy developments and uncertainty about the outlook due to geopolitical risks continue to be reported. - FY2019RestatedAnnual report
「In the information services sector in which the Group operates, corporate IT investment has remained solid, while shortages of IT engineers have continued.」
While IT investment is described as solid, shortages of IT engineers continue. Uncertainty about the economic environment due to policy uncertainty, US-China trade friction and other factors is also reported. - FY2019-Q3WorsenedAnnual report
「During the nine-month period ended 31 December, the Japanese economy remained on a gradual recovery track as corporate earnings and the employment and income environment continued to improve, supported by monetary easing and various economic policies. Meanwhile, the economic environment remained uncertain due to factors including policy uncertainty and volatility in financial and capital markets arising from trade issues such as US-China trade friction.」
In addition to overseas economies, US economic policies and geopolitical risks previously reported, policy uncertainty and volatility in financial and capital markets arising from trade issues such as US-China trade friction were identified as sources of uncertainty about the outlook. - FY2019-Q2RestatedAnnual report
「Meanwhile, although economic conditions overseas, particularly in Europe and the United States, remained solid, uncertainty about the outlook continued due to concerns over US economic policy developments and heightened geopolitical risks.」
Uncertainty about the outlook due to concerns over US economic policy developments and geopolitical risks continues to be reported. - FY2019-Q1RestatedAnnual report
「Meanwhile, although economic conditions overseas, particularly in Europe and the United States, remained solid, uncertainty about the outlook continued due to concerns over US economic policy developments and heightened geopolitical risks.」
Uncertainty about the outlook due to concerns over US economic policy developments and heightened geopolitical risks continues to be reported. - FY2018WorsenedAnnual report
「Meanwhile, although economic conditions overseas, particularly in Europe and the United States, remained solid, uncertainty about the outlook continued due to concerns over US economic policy developments and heightened geopolitical risks.」
In addition to the previously reported US economic policy developments and instability in overseas economies, particularly in the EU, heightened geopolitical risks were identified as a source of uncertainty about the outlook. - FY2018-Q3RestatedAnnual report
「Meanwhile, although economic conditions overseas, particularly in Europe and the United States, remained solid, uncertainty about the outlook continued due to concerns over US economic policy developments and heightened geopolitical risks.」
Concerns over US economic policy developments and instability in overseas economies, particularly in the EU, continue to be reported as sources of uncertainty about the outlook. - FY2018-Q2RestatedAnnual report
「During the six-month period ended 30 September, the Japanese economy remained on a gradual recovery track as corporate earnings and the employment and income environment continued to improve, supported by monetary easing and various economic policies. Meanwhile, uncertainty about the outlook continued due to concerns over US economic policy developments and instability in overseas economies, particularly in the EU.」
Concerns over US economic policy developments and instability in overseas economies, particularly in the EU, continue to be reported as sources of uncertainty about the outlook. - FY2018-Q1RestatedAnnual report
「During the three-month period ended 30 June, the Japanese economy showed signs of a gradual recovery against a backdrop of monetary easing and various economic policies, but uncertainty about the outlook continued due to factors including overseas economies, particularly in the EU, and future developments under the US administration.」
Uncertainty about the outlook due to overseas economies, particularly in the EU, and developments under the US administration continues to be reported. - FY2017RestatedAnnual report
「During the fiscal year, the Japanese economy showed signs of a gradual recovery against a backdrop of monetary easing and various economic policies, but uncertainty about the outlook continued due to factors including overseas economies, particularly in the EU, and future developments under the US administration.」
Uncertainty about the outlook due to overseas economies, particularly in the EU, and developments under the US administration continues to be reported. - FY2017-Q3WorsenedAnnual report
「During the nine-month period ended 31 December, the Japanese economy showed signs of a gradual recovery against a backdrop of monetary easing and various economic policies, but uncertainty about the outlook continued due to factors including overseas economies, particularly in the EU, and future developments under the new US administration.」
In addition to the previously reported instability in overseas economies, particularly in the EU, future developments under the new US administration were also identified as a source of uncertainty about the outlook, broadening the range of risk factors. - FY2017-Q2RestatedAnnual report
「During the six-month period ended 30 September, the Japanese economy showed signs of a gradual recovery against a backdrop of monetary easing and various economic policies, but uncertainty about the outlook continued due to factors including instability in overseas economies, particularly in the EU.」
Instability in overseas economies, particularly in the EU, and uncertainty about the outlook continue to be reported. - FY2017-Q1First statedAnnual report
「In the information services sector in which the Group operates, corporate IT investment has remained solid. Meanwhile, uncertainty about the outlook continues due to factors including the yen's appreciation and instability in overseas economies, particularly in the EU.」
While IT investment is described as solid, the appreciation of the yen and instability in overseas economies, particularly in the EU, are identified for the first time as business environment risks.