Uncertainty over the outlook due to yen appreciation, Brexit and geopolitical risks
First written in FY2017-Q1. 10 of 20 entries say "Worsened", first in FY2019-Q3. Latest entry: 2026-08-07.
Tomoegawa moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 56 of 67 companies on the "Worse" side.
22 other companies' latest entry also says "Restated".
- 2026-08-07RestatedResults
「While the outlook for the situation in the Middle East remains uncertain」
Uncertainty surrounding the situation in the Middle East continued to be presented as an assumption and risk underlying the earnings forecast. - FY2026WorsenedAnnual report
「Meanwhile, uncertainty about the outlook continued, owing to domestic price increases that offset the effects of wage increases, the unresolved situation in Ukraine overseas, higher energy and oil-related product prices following the outbreak of conflict in the Middle East, and concerns about supply, among other factors.」
In addition to the existing geopolitical, inflation and energy risks, the Middle East conflict, supply concerns and higher prices for oil-related products are explicitly identified, broadening the sources of uncertainty in the external environment. - 2026-05-15WorsenedResults
「Although the impact of rising raw material and energy prices is expected to cause some cost increases due to the newly added heightened geopolitical risks in the Middle East, we also expect earnings improvement from progress in passing on price increases and the acceleration of new product development and launches.」
In addition to the previously identified external-environment risks, the company newly described heightened geopolitical risks in the Middle East and their potential cost impact. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
States that no new business or other risks arose and that there were no material changes to existing risks. - FY2024WorsenedAnnual report
「Meanwhile, the uncertain economic environment continued amid the effects of global inflation, tighter monetary policy to contain it, and geopolitical tensions, among other factors.」
In addition to the existing geopolitical risks and other factors, global inflation and tighter monetary policy are explicitly identified, broadening the sources of uncertainty in the external environment. - FY2024-Q3RestatedAnnual report
「As China's economic stagnation continued, weak sales persisted in the toner and functional nonwoven businesses.」
China's economic stagnation continued, affecting multiple businesses through continued weak sales in the toner and functional nonwoven businesses. - FY2024-Q2WorsenedAnnual report
「During the first six months of the fiscal year, the slowdown in China's economy and other factors caused inventory adjustments and price competition in the toner business, which accounts for more than 30% of consolidated net sales, to intensify from the end of the previous fiscal year, resulting in a substantial decline in revenue. Sales of certain functional nonwoven-related products were also affected.」
The effects of China's economic slowdown, inventory adjustments and price competition spread from the toner business to functional nonwoven-related products, making the impact on sales apparent across multiple businesses. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the market adjustment in the semiconductor-related business, which had continued since the second half of the previous fiscal year, was prolonged. In addition, the slowdown in China's economy and other factors caused inventory adjustments and price competition in the toner business to intensify from the end of the previous fiscal year, also affecting sales of certain functional nonwoven-related products.」
The prolonged semiconductor-market adjustment was compounded by China's economic slowdown and intensified inventory adjustments and price competition in toners, broadening the impact of the external environment on sales across multiple businesses. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, there were no new business or other risks, and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that no new business or other risks have arisen and that there have been no material changes to existing risks. - FY2023-Q1WorsenedAnnual report
「Although affected by the surge in raw-material and fuel prices caused by the situation in Ukraine and the weaker yen,」
It explains that, in addition to the existing external-environment risks, the situation in Ukraine affected performance through higher raw-material and fuel prices. The factors behind uncertainty and cost pressures from the external environment have become more specific. - FY2020WorsenedAnnual report
「The global economy rapidly entered a difficult phase as manufacturing sentiment stagnated due to the US-China trade conflict, compounded by the global spread of COVID-19 since the beginning of the year.」
It explains that, in addition to the existing uncertainty caused by the US-China trade conflict and other factors, the global spread of COVID-19 led to a rapid deterioration in the economic environment. - FY2020-Q3RestatedAnnual report
「Sales declined due to the spread of price competition across the market, US-China trade friction, and the yen being stronger against the yen than in the previous fiscal year.」
Uncertainty and adverse effects in the external environment stemming from the US-China trade conflict, price competition and the stronger yen have persisted. - FY2020-Q2WorsenedAnnual report
「Sales value declined as the impact of the US-China trade conflict and intensifying price competition in the Chinese market spread to other markets, including Europe, and the exchange rate moved toward a stronger yen than in the previous fiscal year.」
The effects of the US-China trade conflict, price competition in the Chinese market and the stronger yen spread to markets outside China, resulting in lower toner sales value. - FY2019WorsenedAnnual report
「After strong growth from 2017 through early 2018, the global economy slowed sharply in the second half of 2018 as the US-China trade conflict intensified, China's economy slowed, and financial-market tightening became more pronounced in major developed countries.」
The slowdown in the global economy is described more specifically against the backdrop of the US-China trade conflict, China's economic slowdown and monetary tightening. - FY2019-Q3WorsenedAnnual report
「The company had expected the supply-demand adjustment in the semiconductor and toner markets, which had continued since the previous fourth quarter, to recover in the second half of the fiscal year. However, the recovery was delayed by the impact of the intensifying US-China trade conflict and other factors, adversely affecting display-related products as well.」
It explains that recovery from the supply-demand adjustment in the semiconductor and toner markets was delayed by the intensifying US-China trade conflict and other factors, adversely affecting display-related products as well, and that uncertainty about the outlook and external-environment risks are increasing. - FY2019-Q2RestatedAnnual report
「During the first 6 months of the fiscal year, the global economy faced growing uncertainty over the outlook due in part to concerns such as US-China trade friction, although the real economy had generally remained firm.」
It explains that, while uncertainty about the outlook emerged due to the US-China trade conflict and other factors, the real economy remained firm. - FY2017RestatedAnnual report
「Although there were periods of temporarily heightened risk, the global economy underwent a gradual recovery led by the US.」
The company presents the global economy as having made gradual progress toward recovery, while remaining subject to temporary risks and uncertainty due to political conditions and other factors. - FY2017-Q3RestatedAnnual report
「Although the yen depreciated sharply against the US dollar following the US presidential election, conditions of uncertainty over the outlook continue.」
The company explains that uncertainty over the outlook regarding the economic environment, including foreign exchange movements, continues. - FY2017-Q2RestatedAnnual report
「In addition to slower growth, particularly in emerging-market economies, confusion spread through the economic and financial markets due to issues including Brexit, while the yen continued to appreciate, worsening corporate earnings, and uncertainty over the outlook continued.」
Uncertainty over the outlook due to Brexit, yen appreciation and slower growth in emerging-market economies continues. - FY2017-Q1First statedAnnual report
「Toward the end of the quarter, uncertainty over the outlook increased due to factors including Brexit and rising global geopolitical risks.」
The company cites Brexit and rising geopolitical risks as factors increasing uncertainty in the business environment.