Economic Uncertainty Driven by the Slowdown in China and Emerging-Market Economies and the United Kingdom’s Withdrawal from the EU
First written in FY2017-Q1. 9 of 23 entries say "Worsened", first in FY2019. Latest entry: FY2025.
Ibiden 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: 140 of 172 companies on the "Worse" side.
68 other companies' latest entry also says "Worsened".
- FY2025WorsenedAnnual report
「Regarding the outlook for the global economy, we expect unstable and uncertain conditions to continue, due to the prolonged slowdown in economic growth in China and the impact of geopolitical risks, including changes in U.S. tariff policy.」
The prolonged slowdown in China's economic growth and geopolitical risks, including changes in U.S. tariff policy, were identified as new sources of uncertainty. - FY2025-H1RestatedAnnual report
「During the interim period, the global economy was generally on a recovery path, but unstable and uncertain conditions continued due to trends in policy interest rates in Europe and the United States, significant fluctuations in foreign exchange rates and share prices, and slowing economic growth in China. The domestic economy also continued to recover gradually, but conditions remained difficult to view optimistically due to inflation and downside risks stemming from the global economy.」
While acknowledging the global economy's recovery trend, the company reaffirmed that unstable and uncertain conditions would continue due to policy interest rates, fluctuations in foreign exchange rates and share prices, slowing growth in China, inflation and downside risks. - FY2024RestatedAnnual report
「During the fiscal year, the global economy was generally on a recovery path, but uncertain and unstable conditions continued due to the effects of global monetary tightening, slowing economic growth in China and continuing geopolitical risks.」
While recognizing that the global economy was on a recovery path, the company reaffirmed its view that uncertain and unstable conditions would continue due to monetary tightening, slowing growth in China and geopolitical risks. - FY2024-Q2WorsenedAnnual report
「During the first 2 quarters of the fiscal year, the global economy was generally on a recovery path, but uncertain and unstable conditions continued due to the effects of global monetary tightening and slowing economic growth in China.」
Although the global economy was on a recovery path, the slowdown in China's economic growth was explicitly identified in addition to global monetary tightening, and uncertain and unstable conditions continue, according to the explanation. - FY2024-Q1RestatedAnnual report
「During the first quarter of the fiscal year, the global economy was generally on a recovery path, but uncertain and unstable conditions continued due to the effects of global monetary tightening and persistently high costs, including raw material and energy prices, associated with geopolitical conditions.」
Although the global economy is on a recovery path, uncertain and unstable conditions continue due to monetary tightening, geopolitical conditions and persistently high costs, including raw material and energy prices. - FY2023-Q2WorsenedAnnual report
「During the first 2 quarters of the fiscal year, the global economy moved toward recovery from the impact of COVID-19 variants in developed countries, but downside risks materialized due to the effects of global monetary tightening and higher energy prices associated with geopolitical conditions.」
While the recovery from the impact of COVID-19 progressed, downside risks from global monetary tightening, geopolitical conditions and higher energy prices materialized, according to the explanation. - FY2022-Q3WorsenedAnnual report
「During the first 3 quarters of the fiscal year, the global economy continued to move toward normalization from the impact of the COVID-19 pandemic, particularly in the United States, but infections have again been spreading rapidly amid the emergence of variants since the end of last year. The domestic economy also continued to show signs of recovery in economic activity, but exports and some areas of production showed weakness due to the impact of COVID-19.」
While there were signs of a move toward normalization, the renewed spread of infections associated with variants and weakness in some exports and production were reported, indicating that sources of uncertainty in the global economy, including COVID-19, are again intensifying. - FY2022-Q2MaterialisedAnnual report
「In the motherboard and multilayer printed wiring board (MLB) business, sales to some Chinese customers for smartphones declined as the impact of U.S.-China tensions continued. However, as sales of module substrates remained firm, revenue was roughly in line with the same period of the previous year.」
The continued impact of U.S.-China tensions appeared in the business results as lower smartphone-related sales to Chinese customers. Module substrates, however, offset the decline. - FY2022-Q1MitigatedAnnual report
「During the first quarter of the fiscal year, the global economy continued to show signs of recovery in the United States and Asia, although the impact of the COVID-19 pandemic on economic activity remained.」
Although the impact of COVID-19 on economic activity remains, the recovery in the United States and Asia continues, according to the explanation. - FY2021-Q3WorsenedAnnual report
「Although China's economy showed signs of recovery, the global economy during the cumulative third quarter remained in a situation that could not be viewed optimistically, due to factors including the impact on economic activity of the renewed global spread of COVID-19.」
While signs of a recovery in the Chinese economy have emerged, the impact on economic activity from the renewed global spread of COVID-19 has been identified as a new source of uncertainty, and the global economy is described as remaining difficult to view optimistically. - FY2021-Q2MitigatedAnnual report
「Although signs of recovery, particularly in China, were visible, the global economy during the cumulative second quarter remained unstable due to the slowdown in economic activity caused by the global spread of COVID-19, which began toward the end of the previous fiscal year.」
While economic activity remained depressed by COVID-19 and conditions remained unstable, signs of recovery, particularly in China, were noted. - FY2021-Q1WorsenedAnnual report
「The global economy during the cumulative first quarter became increasingly unstable due to China's economic slowdown stemming from US-China trade issues and the slowdown in economic activity caused by the global spread of COVID-19, which began toward the end of the previous fiscal year.」
In addition to US-China trade issues and China's economic slowdown, the slowdown in economic activity caused by the global spread of COVID-19 is explicitly identified as an external-environment risk, and the company explains that instability has increased. - FY2020WorsenedAnnual report
「The outlook for the global economy is becoming increasingly difficult to predict amid concerns about an economic slowdown resulting from China's economic deceleration stemming from US-China trade issues and the broader slowdown in economic activity due to the spread of COVID-19.」
In addition to US-China trade issues and China's economic slowdown, the slowdown in economic activity due to COVID-19 has emerged as a new source of uncertainty. - FY2020-Q3ReframedAnnual report
「The global economy during the cumulative third quarter grew moderately overall, supported by solid growth in the US, but became increasingly unstable due to risks associated with China's slowing economic trend stemming from US-China trade issues and uncertainty over policies in various countries, including the UK's withdrawal from the EU.」
In addition to China's slowing economic trend stemming from US-China trade issues, uncertainty over policies in various countries, including the UK's withdrawal from the EU, is explicitly identified, and the description of external-environment risks has been revised. - FY2020-Q2RestatedAnnual report
「The global economy during the cumulative second quarter grew moderately overall, supported by solid growth in the US, but became increasingly unstable due to risks associated with China's slowing economic trend stemming from US-China trade issues and uncertainty over policies in various countries.」
The company reconfirms its view that the global economy is unstable due to China's slowing economic trend stemming from US-China trade issues and uncertainty over policies in various countries. - FY2020-Q1WorsenedAnnual report
「The global economy during the cumulative first quarter grew moderately overall, supported by solid growth in the US, but became increasingly unstable due to risks associated with China's slowing economic trend stemming from US-China trade issues and uncertainty over policies in various countries.」
The company states that the global economy is becoming increasingly unstable due to China's slowing economic trend stemming from US-China trade issues and uncertainty over policies in various countries. - FY2019WorsenedAnnual report
「The outlook for the global economy is becoming increasingly difficult to predict due to economic uncertainty stemming from the hard-line trade and foreign policies of the US and China and the global spillover from China's economic slowdown.」
In addition to the previously cited uncertainty surrounding China and emerging-market economies and policy uncertainty, the company cites US-China trade and foreign policies and the global spillover from China's economic slowdown, explaining that the outlook has become increasingly difficult to predict. - FY2018-Q2ReframedAnnual report
「The global economy during the cumulative second quarter continued to grow moderately overall, supported by solid growth in the US and Europe, but the outlook became uncertain due to factors including rising geopolitical risks.」
In addition to the previously cited uncertainty surrounding China and emerging-market economies and policy uncertainty in the US and Europe, rising geopolitical risks are identified as a source of uncertainty about the outlook. - FY2018-Q1RestatedAnnual report
「The global economy during the cumulative first quarter grew moderately overall, supported by solid growth in the US and Europe, but concerns about the uncertain outlook for China and emerging-market economies and uncertainty over various policies in the US have persisted.」
Uncertainty about the outlook for China and emerging-market economies and policy uncertainty in the US are identified as continuing external-environment risks. - FY2017RestatedAnnual report
「The global economy during the consolidated fiscal year grew moderately overall, supported by solid growth in the US and Europe, but concerns about the uncertain outlook for China and emerging-market economies and uncertainty over policy in the US and Europe increased.」
Uncertainty surrounding China and emerging-market economies and policy uncertainty in the US and Europe are reiterated as external-environment risks for the full fiscal year. - FY2017-Q3ReframedAnnual report
「The global economy during the cumulative third quarter grew moderately overall, supported by solid growth in the US and Europe, but concerns about the uncertain outlook for China and emerging-market economies and uncertainty over policy in the US and Europe have increased.」
In addition to uncertainty surrounding China and emerging-market economies, policy uncertainty in the US and Europe is identified as a new concern, changing the description of the economic environment. - FY2017-Q2RestatedAnnual report
「The global economy during the cumulative second quarter was supported by solid growth in the US and Europe and continued to grow moderately overall, but uncertainty about the outlook intensified due to the slowing trend in China and emerging-market economies and issues including the UK's withdrawal from the EU in Europe.」
The uncertainty about the outlook caused by the slowing trend in China and emerging-market economies and the UK's withdrawal from the EU is reiterated as an economic condition continuing from the previous quarter. - FY2017-Q1First statedAnnual report
「In addition to the slowdown in China and emerging-market economies, uncertainty about the outlook intensified due to issues including the UK's withdrawal from the EU in Europe.」
The slowdown in the Chinese and emerging-market economies and the UK's withdrawal from the EU are identified as sources of uncertainty in the global economy during the quarter.