Downside in overseas economies and uncertainty from the UK's withdrawal from the EU
First written in FY2017-Q1. 16 of 32 entries say "Restated". Latest entry: FY2026.
Hokuetsu moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
56 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The global economy remains highly uncertain as tensions surrounding Russia and Ukraine and the situation in the Middle East persist, compounded by uncertainty over monetary and trade policies in major countries.」
Uncertainty surrounding geopolitical conditions, monetary and trade policies in major countries, resource and energy prices, and exchange rates continues. - 2026-05-15RestatedEarnings
「Heightened tensions in the Middle East, volatility in financial and capital markets, and uncertainty surrounding U.S. trade policy are increasing downside risks to the economy, and the outlook remains uncertain.」
The company continues to identify tensions in the Middle East, volatility in financial and capital markets, and uncertainty surrounding U.S. trade policy as downside risks to the economy in the next fiscal year. - FY2026-H1WorsenedAnnual report
「Concerns over downside risks to the economy from the impact of U.S. trade policy and volatility in financial and capital markets mean that the outlook remains unclear.」
Regarding uncertainty in overseas economies, downside risks to the economy from U.S. trade policy have been newly specified, while concerns over volatility in financial and capital markets continue to be disclosed. - FY2025WorsenedAnnual report
「In addition to geopolitical risks such as the instability surrounding Russia and Ukraine and the increasingly unstable situation in the Middle East, uncertainty over political conditions and policy management in major countries has increased further, creating risks to the outlook, including supply chain disruptions and sharp exchange-rate fluctuations.」
In addition to geopolitical risks, the disclosure identifies political conditions and policy management in major countries, supply chain disruptions and sharp exchange-rate movements as new risks to the outlook, stating that uncertainty has increased further. - FY2025-H1WorsenedAnnual report
「Although a gradual recovery is expected as employment and income conditions improve, supported by the effects of various policies, concerns over the continued high interest-rate environment in the United States and Europe, the impact of the prolonged stagnation in China's property market, conditions in the Middle East, soaring raw material and fuel prices, and volatility in financial and capital markets mean that the outlook remains unclear.」
In addition to the previously cited situation in the Middle East, raw material and fuel prices, and volatility in financial and capital markets, the disclosure identifies persistently high interest rates in the United States and Europe and stagnation in China's property market as sources of uncertainty. - FY2024WorsenedAnnual report
「The global economy has become even more uncertain due to Russia's invasion of Ukraine, mounting instability in the Middle East, persistent global inflation, and concerns about an economic downturn, particularly in China, the United States and Europe.」
In addition to the previously cited situation in Ukraine and other factors, the disclosure identifies mounting instability in the Middle East, global inflation and concerns about an economic downturn, stating that uncertainty in overseas economies has increased further. - FY2024-Q3RestatedAnnual report
「Although a gradual recovery is expected as employment and income conditions improve, supported by the effects of various policies, concerns over the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets mean that the outlook remains unclear.」
The disclosure indicates expectations for an economic recovery while continuing to identify the situation in Ukraine, raw material and fuel prices, and volatility in financial and capital markets as sources of uncertainty about the outlook. - FY2024-Q2RestatedAnnual report
「Although a gradual recovery is expected as employment and income conditions improve, supported by the effects of various policies, concerns over the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets mean that the outlook remains unclear.」
The disclosure indicates expectations for an economic recovery while continuing to identify the situation in Ukraine, raw material and fuel prices, and volatility in financial and capital markets as sources of uncertainty about the outlook. - FY2024-Q1RestatedAnnual report
「Although a gradual recovery is expected as employment and income conditions improve, supported by the effects of various policies, concerns over the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets mean that the outlook remains unclear.」
The disclosure indicates expectations for an economic recovery while continuing to identify the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets as sources of uncertainty about the outlook. - FY2023WorsenedAnnual report
「The global economy remains uncertain due to the situation in Russia and Ukraine and volatility in financial and capital markets. In the domestic paper and pulp industry, the difficult business environment continues as soaring raw material and fuel prices persist, compounded by structural declines in demand for printing and information paper resulting from the further digitalization of society through the use of technology.」
In addition to the situation in Russia and Ukraine and volatility in financial and capital markets, soaring raw material and fuel costs and structural declines in demand resulting from digitalization have combined, and the difficult business environment continues. - FY2023-Q3RestatedAnnual report
「Although economic conditions are expected to recover under the conditions of living with COVID-19, supported by the effects of various policies, concerns over the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets mean that the outlook remains unclear.」
The disclosure indicates expectations for an economic recovery while continuing to identify the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets as sources of uncertainty about the outlook. - FY2023-Q2RestatedAnnual report
「During the second quarter of the fiscal year, Japan's economy was expected to recover as the transition to a new phase of living with COVID-19 progressed, supported by the effects of various policies. However, concerns over the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets meant that the outlook remained unclear.」
The disclosure indicates expectations for an economic recovery while continuing to identify the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets as sources of uncertainty. - FY2023-Q1WorsenedAnnual report
「Although economic conditions are expected to recover as measures to prevent the spread of COVID-19 are implemented and economic and social activity normalizes, supported by the effects of various policies, concerns over the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets mean that the outlook remains unclear.」
Although a recovery in economic conditions is expected, the prolonged situation in Ukraine, soaring raw material and fuel prices, and volatility in financial and capital markets are identified as new sources of uncertainty. - FY2022WorsenedAnnual report
「The global economy has become highly uncertain due to the effects of COVID-19 and the situation in Russia and Ukraine. The domestic paper and pulp industry continues to face a difficult business environment due to stagnating global economic activity and heightened tensions resulting from these factors, as well as soaring raw material and fuel prices and rapid changes in domestic demand trends.」
In addition to the previously cited uncertainty in overseas economies, the disclosure identifies the situation in Russia and Ukraine, soaring raw material and fuel prices, and rapid changes in domestic demand, stating that the difficult business environment continues. - FY2022-Q3WorsenedAnnual report
「During the third quarter of the fiscal year, Japan's economy remained in difficult conditions as demand across the industry had fallen sharply in the previous year due to the impact of COVID-19. However, as measures to prevent the spread of infection were implemented and vaccination was promoted, economic conditions continued to recover, supported by the effects of various policies and improvements in overseas economies. Nevertheless, the outlook remained unpredictable due to the renewed spread of COVID-19.」
The disclosure describes a recovery supported by the effects of policies and improvements in overseas economies, while stating that the outlook remained unpredictable due to the renewed spread of COVID-19. - FY2022-Q1MitigatedAnnual report
「Economic conditions continued to recover, supported by the effects of various policies and improvements in overseas economies. However, the economy had not recovered to pre-COVID-19 levels, and the outlook remained unclear.」
The disclosure indicates a recovery supported by the effects of policies and improvements in overseas economies, while noting that the economy had not returned to pre-pandemic levels and uncertainty about the outlook remained. - FY2021-Q3RestatedAnnual report
「During the third quarter of the fiscal year, Japan's economy remained in difficult conditions due to the impact of COVID-19, and the outlook for the economy remained unclear.」
The difficult economic conditions and uncertainty about the outlook caused by COVID-19 continue to be disclosed. - FY2021-Q2RestatedAnnual report
「During the second quarter of the fiscal year, Japan's economy remained in difficult conditions due to the impact of COVID-19, and the outlook for the economy remained unclear.」
The difficult economic conditions and uncertainty about the outlook caused by COVID-19 continue to be disclosed. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, Japan's economy remained in difficult conditions due to the impact of COVID-19, and the outlook for the economy remained unclear.」
The impact of COVID-19 has made the severity of economic conditions and uncertainty about the outlook more pronounced than before. - FY2020-Q3WorsenedAnnual report
「During the third quarter of the fiscal year, Japan's economy remained on a gradual recovery path as employment and income conditions continued to improve, although weakness intensified, particularly in manufacturing, while exports remained weak. At the same time, the outlook remained unclear due to developments surrounding trade issues, the outlook for the Chinese economy, the UK's withdrawal from the European Union (EU) and conditions in the Middle East.」
In addition to the previously cited trade issues, the Chinese economy and the UK's withdrawal from the EU, conditions in the Middle East are identified as a source of uncertainty. - FY2020-Q2The outlook for the UK's withdrawal from the EU was added again as a source of uncertainty.Annual report
「During the second quarter of the fiscal year, Japan's economy remained on a gradual recovery path as employment and income conditions continued to improve, although weakness, particularly in exports, persisted. At the same time, the outlook remained unclear due to tensions surrounding trade issues, the outlook for the Chinese economy and the UK's withdrawal from the European Union (EU).」
In addition to trade issues and the Chinese economy, the outlook for the UK's withdrawal from the EU is identified as a source of uncertainty in overseas economies. - FY2020-Q1RestatedAnnual report
「During the first quarter of the fiscal year, Japan's economy remained on a gradual recovery path as employment and income conditions continued to improve, although weakness persisted, particularly in exports. At the same time, uncertainty remained regarding trade issues, the outlook for the Chinese economy and overseas economic trends, and the outlook continued to be unclear.」
Trade issues, the outlook for the Chinese economy and overseas economic trends continue to be identified as factors making the outlook unclear. - FY2019-Q3RestatedAnnual report
「During the first nine months of the current fiscal year, Japan's economy continued to see improvements in corporate earnings and employment conditions and remained on a moderate recovery trend. However, the impact of uncertainty in overseas economies, including developments in US administration economic policy and trade issues and the outlook for the Chinese economy, resulted in continued uncertainty about the outlook.」
The disclosure continues to identify uncertainty in overseas economies, including U.S. economic policy and trade issues and the outlook for the Chinese economy. - FY2019-Q2WorsenedAnnual report
「During the first six months of the current fiscal year, Japan's economy continued to see improvements in corporate earnings and employment conditions, and the economy remained on a moderate recovery trend. However, the impact of successive natural disasters and uncertainty in overseas economies, including developments in US administration economic policy and trade issues and the outlook for the economies of emerging Asian countries, including China, resulted in continued uncertainty about the outlook.」
In addition to the previously cited uncertainty in overseas economies, the impact of successive natural disasters is identified as a factor contributing to uncertainty about the outlook. - FY2019-Q1WorsenedAnnual report
「Although improvements in corporate earnings and employment conditions continued and the economy remained on a moderate recovery trend, the impact of uncertainty in overseas economies, including developments in US administration economic policy and trade issues and the outlook for the economies of emerging Asian countries, including China, resulted in continued uncertainty about the outlook.」
In addition to the previously cited US economic policy and the economic outlook for China and elsewhere, developments in trade issues are identified as a factor contributing to uncertainty in overseas economies. - FY2018-Q3RestatedAnnual report
「During the first nine months of the current fiscal year, Japan's economy continued to see improvements in corporate earnings and employment conditions and remained on a moderate recovery trend. However, the impact of uncertainty in overseas economies, including developments in US administration economic policy and the outlook for the economies of emerging Asian countries, including China, resulted in continued uncertainty about the outlook.」
Uncertainty in overseas economies, including US economic policy and the economic outlook for China and elsewhere, continues to be noted. - FY2018-Q2RestatedAnnual report
「During the first six months of the current fiscal year, Japan's economy continued to see improvements in corporate earnings and employment conditions, and the economy remained on a moderate recovery trend. However, the impact of uncertainty in overseas economies, including developments in US administration economic policy and the outlook for the economies of emerging Asian countries, including China, resulted in continued uncertainty about the outlook.」
Uncertainty in overseas economies, including US economic policy and the economic outlook for China and elsewhere, continues to be noted. - FY2018-Q1RestatedAnnual report
「The impact of developments in US administration economic policy and the outlook for the economies of emerging Asian countries, including China, resulted in continued uncertainty about the outlook.」
Uncertainty in overseas economies, including US economic policy and the economic outlook for China and elsewhere, continues to be noted. - FY2017RestatedAnnual report
「The impact of economic policies under the change in the US administration and uncertainty in overseas economies, including issues surrounding the UK's withdrawal from the EU, resulted in continued uncertainty about the outlook.」
The impact of economic policies under the change in the US administration and uncertainty in overseas economies, including the UK's EU withdrawal issue, continues to be noted. - FY2017-Q3WorsenedAnnual report
「The impact of economic policies under the new US administration, downside risks in the economies of emerging Asian countries, including China, and uncertainty in overseas economies stemming from issues surrounding the UK's withdrawal from the European Union (EU) resulted in continued uncertainty about the outlook.」
In addition to the previously cited economic downturn in China and elsewhere and the UK's EU withdrawal issue, the impact of economic policies under the new US administration is identified as a factor contributing to uncertainty. - FY2017-Q2RestatedAnnual report
「Uncertainty in overseas economies increased, including downside risks in China and other emerging Asian economies and resource-producing countries, as well as the UK’s withdrawal from the European Union, and conditions remained uncertain going forward.」
Uncertainty arising from downside in overseas economies and the UK's EU withdrawal issue continues to be viewed as a risk. - FY2017-Q1First statedAnnual report
「Uncertainty in overseas economies increased, including downside risks in China and other emerging Asian economies and resource-producing countries, as well as the UK’s withdrawal from the European Union, and conditions remained uncertain going forward.」
Downside risks in overseas economies and the UK’s EU withdrawal are cited as factors clouding the outlook.