Uncertainty over the Outlook Due to US Policy, European Political Risks and Other Factors
First written in FY2017-Q3. 13 of 28 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-09-11.
Scat 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: 14 of 18 companies on the "Worse" side.
10 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「During the current interim consolidated accounting period (1 November 2025 to 30 April 2026), Japan's economy continued to show signs of recovery in social and economic activity, but the outlook remained uncertain, including because of shortages of oil-related products resulting from the unstable international situation and the impact on personal consumption of rising prices across a range of goods and services.」
The company noted a recovery in social and economic activity and cited shortages of oil-related products resulting from the unstable international situation as a new factor creating uncertainty about the outlook. - 2026-03-13RestatedEarnings
「Although social and economic activity continues to show signs of recovery, the outlook remains uncertain due to unstable international conditions and the impact on personal consumption of the continuing depreciation of the yen and rising prices.」
The company cites recovering social and economic activity alongside uncertainty stemming from unstable international conditions, yen weakness and rising prices. - FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period (1 November 2024 to 30 April 2025), Japan's economy continued to show signs of recovery in social and economic activity, but the outlook remained uncertain due to the unstable international situation and the impact on personal consumption of the continuing yen depreciation and price inflation.」
The company noted a recovery in social and economic activity, while continuing to cite the unstable international situation, the weaker yen, inflation and its impact on personal consumption as sources of uncertainty about the outlook. - FY2024-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year (1 November 2023 to 30 April 2024), Japan's economy was on a recovery trend following the reclassification of COVID-19, but the outlook remained uncertain amid surging crude oil and raw material prices due to geopolitical risks related to the situations in Ukraine and Israel, as well as the yen's depreciation.」
The economy showed signs of recovery, while the company cited the situation in Israel in addition to the ongoing situation in Ukraine, along with surging crude oil and raw material prices and the weaker yen, as factors creating uncertainty about the outlook. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year (1 November 2023 to 31 January 2024), Japan's economy was on a recovery trend following the reclassification of COVID-19, but the outlook remained uncertain due to the yen's depreciation in the foreign exchange market and rising prices driven by higher utility and raw material costs.」
The economy showed signs of recovery following the reclassification of COVID-19, while the weaker yen and higher utility and raw material costs continued to cloud the outlook. - FY2023Normalization of economic activity alongside price, foreign exchange and geopolitical risksAnnual report
「Signs of an economic recovery emerged as the easing of COVID-19 measures brought social and economic activity back toward normal. However, the outlook remained uncertain due to the sharp depreciation of the yen in foreign exchange markets, the prolonged situation in Ukraine, and higher prices caused by increases in utility costs and raw material prices.」
While signs of normalization and recovery following the easing of COVID-19 measures are noted, continued uncertainty is attributed to yen depreciation, the situation in Ukraine, and higher utility and raw material prices. - FY2023-Q3Uncertainty from higher prices and geopolitical risks as the impact of the pandemic easesAnnual report
「During the nine months ended (1 November 2022 to 31 July 2023), signs of an economic recovery toward the normalization of social activity emerged as restrictions related to COVID-19 were eased. However, the outlook remained uncertain due to the prolonged situation in Ukraine and higher prices caused by increases in utility costs and raw material prices.」
While the disclosure describes signs of normalization and economic recovery following the easing of COVID-19 restrictions, it indicates uncertainty due to the prolonged situation in Ukraine and higher utility and raw material prices. - FY2023-Q2Easing impact of the pandemic, with continued financial, foreign exchange, resource and semiconductor risksAnnual report
「During the six months ended (1 November 2022 to 30 April 2023), domestic economic activity in Japan was on a moderate recovery trend as COVID-19 moved toward containment. However, the outlook remained uncertain due to higher resource prices associated with the prolonged situation in Ukraine, growing inflation concerns caused by global monetary tightening and exchange-rate movements, and other factors.」
While the disclosure describes a recovery in economic activity as COVID-19 moves toward containment, it indicates that the outlook remains uncertain due to higher resource prices, global monetary tightening, exchange-rate movements and inflation concerns. - FY2023-Q1Easing impact of the pandemic, with uncertainty from resource prices, yen depreciation and the semiconductor shortageAnnual report
「Restrictions on activity to prevent the spread of COVID-19 were eased, and daily life, including economic activity, showed signs of gradually returning to normal. However, concerns over inflation increased against a backdrop of higher resource prices resulting from the prolonged Russia-Ukraine situation and yen depreciation, while the prolonged global semiconductor shortage continued to leave the outlook uncertain.」
While the disclosure describes signs of normalization following the easing of activity restrictions, it indicates that the outlook remains uncertain due to the Russia-Ukraine situation, higher resource prices, yen depreciation, inflation concerns and the semiconductor shortage. - FY2022RestatedAnnual report
「During the fiscal year (1 November 2021 to 31 October 2022), Japan's economic outlook remained uncertain due to the renewed increase in COVID-19 cases, higher resource prices associated with the prolonged Ukraine crisis, yen depreciation and the prolonged global semiconductor shortage.」
Uncertainty over the economic outlook due to the renewed spread of the infection, the Ukraine crisis, higher resource prices, yen depreciation and the semiconductor shortage continues. - FY2022-Q3WorsenedAnnual report
「During the nine months ended (1 November 2021 to 31 July 2022), COVID-19 spread again in July, while concerns including higher resource prices due to the prolonged Ukraine crisis, yen depreciation and the prolonged global semiconductor shortage left the economic outlook uncertain.」
In addition to the impact of the pandemic, the semiconductor shortage and the situation in Ukraine cited through the previous quarter, the disclosure cites the renewed spread of the infection in July, higher resource prices, yen depreciation and the prolonged semiconductor shortage as factors intensifying uncertainty over the outlook. - FY2022-Q2Easing impact of the pandemic, with continued uncertainty from semiconductor shortages and the situation in UkraineAnnual report
「During the six months ended (1 November 2021 to 30 April 2022), the impact of COVID-19 on Japan's economy was gradually easing, but the economic outlook remained uncertain due to the semiconductor shortage and the situation in Ukraine.」
While the impact of COVID-19 is described as gradually easing, the semiconductor shortage and the situation in Ukraine are cited as new sources of uncertainty, with the recognition that the outlook remains uncertain continuing. - FY2022-Q1RestatedAnnual report
「During the first three months of the fiscal year (1 November 2021 to 31 January 2022), Japan's economy was affected by the prolonged spread of COVID-19, and uncertainty over the economic outlook continued.」
The recognition that the economic outlook remains uncertain continues due to the prolonged COVID-19 pandemic. - FY2021-Q3WorsenedAnnual report
「Although an economic recovery is expected as vaccination programs get fully underway and various policies take effect, the outlook remains uncertain due to concerns over the spread of variants and a global semiconductor shortage.」
While expectations for a recovery driven by vaccinations and other factors are noted, the spread of variants and concerns over a global semiconductor shortage are cited as new sources of uncertainty. - FY2021-Q2RestatedAnnual report
「The renewed spread of COVID-19 has had a major impact on economic activity, including the reissuance of the state of emergency and implementation of priority preventive measures in some regions, and the economic outlook remains uncertain and difficult.」
The recognition that the economic outlook remains uncertain and difficult continues due to the renewed spread of the infection, the state of emergency and priority preventive measures. - FY2021-Q1WorsenedAnnual report
「The spread of COVID-19 has had a major impact. Although signs of a temporary recovery were observed, the number of infections increased again and the state of emergency was reissued, leaving the economic outlook uncertain and conditions difficult.」
The renewed increase in infections and reissuance of the state of emergency are cited as leaving the economic outlook uncertain and conditions difficult. - FY2020WorsenedAnnual report
「In the ICT business for beauty salons, profitability in the main beauty salon market deteriorated sharply as salons suspended operations and took other measures, leading to a succession of employee layoffs, business withdrawals and closures. The market temporarily recovered from late August, but the second and third waves of infections followed, again having a major impact on future consumer trends.」
In addition to the previously cited uncertainty in economic and consumption conditions, the second and third waves of infections have prolonged and expanded uncertainty in the beauty salon industry and consumer trends. - FY2020-Q2WorsenedAnnual report
「During the six months ended, Japan's economy began to deteriorate due to the decline in personal consumption caused by last October's consumption tax increase, in addition to the spread of COVID-19 from March, and entered a full-scale economic slowdown following the nationwide state of emergency declared in April.」
In addition to the previously cited uncertainty caused by the consumption tax increase and other factors, the spread of COVID-19 and the state of emergency are described as having led to a full-scale economic slowdown. - FY2020-Q1WorsenedAnnual report
「During the first three months of the fiscal year, the impact on consumption from the consumption tax rate increase and other factors caused consumption to slow substantially below the government's forecast, despite the government's various measures to support consumption.」
The slowdown in consumption following the consumption tax rate increase is described as substantially below the government's forecast despite its consumption measures, indicating a deterioration in economic and consumption conditions. - FY2019WorsenedAnnual report
「The economic damage caused by a succession of major typhoons has affected not only agriculture but all industries. In addition, the consumption tax increase implemented in October has remained relatively stable, partly due to the government's economic measures, but is expected to have a major impact on consumer trends going forward.」
In addition to the previously cited uncertainty in the global economy, damage to industries from major typhoons and the impact of the consumption tax increase on future consumer trends are newly cited. - FY2019-Q3RestatedAnnual report
「During the nine months ended, Japan's economy remained on a moderate recovery trend against a backdrop of improving employment and income conditions, but uncertainty over the outlook continued due to concerns that trade friction centered on the US and China could become entrenched and uncertainty in the European economy.」
Concerns over prolonged trade friction centered on the US and China and uncertainty in the European economy are cited, reaffirming that uncertainty over the outlook continues. - FY2019-Q2WorsenedAnnual report
「During the six months ended, Japan's economy remained on a moderate recovery trend against a backdrop of improving employment and income conditions, but companies' assessments of business conditions became more uncertain due to slowing growth in China and instability in the European economy.」
In addition to the previously disclosed uncertainty in the global economy, slowing growth in China and instability in the European economy are cited as new factors, with uncertainty described as having increased. - FY2019-Q1WorsenedAnnual report
「Although Japan's economy remained on a moderate recovery trend against a backdrop of improving employment and income conditions, uncertainty over the outlook for the Japanese economy has intensified as the global economy deteriorated sharply due to US-China trade friction and the UK's Brexit issue during the first three months of the fiscal year (December 2018 BOJ Tankan).」
In addition to the previously cited US policy and European political risks, heightened uncertainty over the economic outlook is attributed to US-China trade friction and the UK's Brexit issue. - FY2017-Q3First statedAnnual report
「However, uncertainty over the outlook continues due to the policies of the new US administration, political risks in Europe, the North Korea issue and other factors.」
The policies of the new US administration, political risks in Europe and the North Korea issue are cited as factors contributing to uncertainty over the economic outlook.