Geopolitical risks, including the protracted situation in Ukraine
First written in FY2022-Q2. 3 of 8 entries say "Worsened", first in FY2022-Q3. Latest entry: FY2025.
Sun* moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2022: 45 of 78 companies on the "Worse" side.
6 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual reportIn the economic overview in the FY2025 filing, no specific references to the situations involving Russia and Ukraine, soaring resource prices, or geopolitical risks were identified. The disclosure had shifted to general uncertainty centered on fluctuations in the financial and capital markets and other factors.
- FY2023SoftenedAnnual report
「Meanwhile, uncertainty about the outlook continued amid sharp exchange-rate movements and rising prices.」
The economic overview no longer mentioned the situations involving Russia and Ukraine or soaring resource prices, which had been explicitly stated through the previous fiscal year, and instead referred to general uncertainty centered on exchange-rate fluctuations and rising prices. - FY2023-Q3WorsenedAnnual report
「Meanwhile, raw-material prices continued to rise as geopolitical risks surrounding Russia and Ukraine persisted and the yen's depreciation trend intensified in the foreign exchange market. The economic outlook in Japan and overseas therefore remained uncertain.」
The company explicitly stated that geopolitical risks had persisted and that the yen's depreciation trend had intensified alongside continued increases in raw-material prices, making the factors behind uncertainty in the economic outlook more specific than in the previous quarter. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy showed signs of a gradual recovery in economic and social activity as restrictions on activities and overseas travel related to the spread of COVID-19 were eased. However, the outlook remained uncertain amid the prolonged situation in Ukraine, soaring resource prices, and accelerating global inflation.」
The company continued to cite uncertainty surrounding the economic outlook, including the prolonged situation in Ukraine, soaring resource prices, and global inflation. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the Japanese economy showed signs of a gradual recovery in economic and social activity as restrictions on activities and overseas travel were eased, while concerns about the spread of COVID-19 continued. However, the outlook remained uncertain amid the prolonged situation in Ukraine, soaring resource prices, and accelerating global inflation.」
The company explicitly identified accelerating global inflation as an uncertainty factor in addition to the prolonged situation in Ukraine and soaring resource prices, indicating that the risk factors related to geopolitics, foreign exchange, and resource prices cited through the previous fiscal year had expanded. - FY2022RestatedAnnual report
「However, the outlook remained uncertain amid sharp exchange-rate movements and soaring resource prices caused by the situation involving Russia and Ukraine.」
The company continued to cite uncertainty surrounding the economic outlook, including exchange-rate fluctuations and soaring resource prices, in addition to the prolonged situation in Ukraine and other factors. - FY2022-Q3WorsenedAnnual report
「Meanwhile, the economic outlook in Japan and overseas remained uncertain amid the prolonged situation in Ukraine, shortages of raw materials, and the yen's depreciation against the backdrop of global interest-rate adjustments.」
The company identified the prolonged situation in Ukraine, shortages of raw materials, global interest-rate adjustments, and the yen's depreciation as new sources of uncertainty, indicating that geopolitical and macroeconomic risk factors had broadened. - FY2022-Q2First statedAnnual report
「The number of new COVID-19 cases was trending down from its temporary peak, and economic and social activity showed signs of a gradual recovery, although geopolitical risks, including the prolonged situation in Ukraine, had become apparent. Uncertainty surrounding domestic and overseas economic conditions therefore remained.」
The company stated that geopolitical risks arising from the prolonged situation in Ukraine and other factors had become apparent, contributing to uncertainty surrounding domestic and overseas economic conditions.