Legal and regulatory risks and sociopolitical instability at overseas locations
First written in FY2016. 6 of 15 entries say "Worsened", first in FY2020. Latest entry: 2026-11-09.
Nippon Carbide Industries Company moved to the "Worse" side of this theme in 2022, 1 year after the typical company in this theme (2021).
The whole theme swung hardest in 2025: 50 of 96 companies on the "Worse" side.
77 other companies' latest entry also says "Restated".
- 2026-11-09RestatedRevisions to earnings forecasts
「当中間連結会計期間における世界経済は、中東情勢の緊迫化に伴う原材料供給への懸念や米国の追加関税措置の動向、中国経済の減速などにより、先行き不透明な状況が続きました。」
中東情勢、米国追加関税措置、中国経済の減速を、引き続き先行き不透明要因として記載した。 - FY2026MaterialisedAnnual report
「Shipments of film and sheet products to the United States decreased due to additional US tariff measures, but shipments of motorcycle-related products in Brazil and license-plate products in Europe increased.」
Additional US tariff measures affected the actual business by reducing shipments of products to the United States. - FY2026-H1MaterialisedAnnual report
「Shipments of film and sheet products to the United States decreased due to additional US tariff measures, but shipments of motorcycle-related products in Brazil and license-plate products in Europe increased.」
The company states that additional US tariff measures affected its actual business by reducing shipments of products to the United States. - FY2025WorsenedAnnual report
「These overseas locations and the countries and regions in which the group operates face risks including unforeseen changes in laws and regulations, import, export and foreign investment restrictions, deteriorating public safety, intergovernmental economic sanctions such as tariff measures, terrorism, war, infectious diseases and other causes of social and political instability.」
The group has explicitly added tariff measures to its disclosure of overseas business risks, broadening the range of risk factors related to geopolitics and trade policy. - FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period, the global economy grew moderately overall, but the outlook remained uncertain due in part to heightened geopolitical risks in Europe and the Middle East and persistently high raw material and fuel prices.」
For the overseas business environment, the group identifies heightened geopolitical risks in Europe and the Middle East and persistently high raw material and fuel prices as factors contributing to an uncertain outlook. - FY2023RestatedAnnual report
「More than half of the group’s consolidated subsidiaries are overseas subsidiaries, and the group conducts production and sales activities around the world. These overseas locations and the countries and regions in which the group operates face risks including unforeseen changes in laws and regulations, import, export and foreign investment restrictions, deteriorating public safety, economic sanctions between countries, terrorism, war, infectious diseases and other causes of social and political instability.」
The group continues to disclose its structure, in which overseas subsidiaries account for more than half of its consolidated subsidiaries, and the risks of laws and regulations, public safety, economic sanctions, infectious diseases and sociopolitical instability at overseas locations. - FY2023-Q3WorsenedAnnual report
「During the first nine months of the current consolidated fiscal year, uncertainty about the outlook for the global economy increased due to higher resource prices resulting from the prolonged conflict in Ukraine, rising global inflation, interest-rate hikes by central banks in various countries and concerns about an economic recession.」
In the overseas business environment, the risk factors of Russia’s invasion of Ukraine, the prolonged conflict, higher resource prices, inflation, interest-rate hikes and concerns about an economic recession have continued and become more pronounced. - FY2023-Q2WorsenedAnnual report
「During the first six months of the current consolidated fiscal year, the global economy generally continued to recover from the downturn caused by the COVID-19 pandemic, although conditions varied by country and region. However, uncertainty about the outlook for the global economy increased due to higher resource prices resulting from the rapid depreciation of the yen, rising global inflation, lockdowns in China as part of its COVID-19 measures, and Russia’s invasion of Ukraine.」
Risk factors in the overseas business environment, including lockdowns in China, Russia’s invasion of Ukraine, higher resource prices and accelerating inflation, have continued and become more pronounced. - FY2022WorsenedAnnual report
「The group has no direct sales customers, suppliers or manufacturing and sales locations in Russia or Ukraine. However, if the conflict is prolonged, risks remain of higher raw material prices related to the situation in Russia and Ukraine and supply chain disruptions. In response to these risks, the group is working to secure multiple suppliers and logistics routes and to pass higher raw material costs through to product prices.」
The group has added the possibility of higher raw material prices and supply chain disruptions resulting from the situation in Russia and Ukraine to the existing risks of legal and regulatory changes and sociopolitical instability at overseas locations. It also describes measures including securing multiple suppliers and logistics routes. - FY2021MitigatedAnnual report
「The group works to prevent and avoid these risks through information gathering within the group and the engagement of external consultants. However, if these risks materialize, they may disrupt global business activities and affect the group’s operating results, financial position and future performance.」
The group specifies prevention and avoidance measures for the risks of laws and regulations, public safety, economic sanctions, infectious diseases and sociopolitical instability at overseas locations, including information gathering and the engagement of external consultants. - FY2020WorsenedAnnual report
「More than half of the group’s consolidated subsidiaries are overseas subsidiaries, and the group conducts production and sales activities around the world. These overseas locations and the countries and regions in which the group operates face risks including unforeseen changes in laws and regulations, import, export and foreign investment restrictions, deteriorating public safety, economic sanctions between countries, terrorism, war, infectious diseases and other causes of social and political instability.」
The range of risk factors has expanded beyond conventional risks involving changes in laws and tax systems and sociopolitical instability to include import, export and foreign investment restrictions, economic sanctions between countries and infectious diseases. - FY2019RestatedAnnual report
「More than half of the group’s consolidated subsidiaries are overseas subsidiaries, and the group conducts production and sales activities around the world. These overseas locations face risks including unforeseen changes in laws, regulations and tax systems, as well as social and political instability resulting from terrorism, war and other factors.」
The group continues to disclose its structure, in which overseas subsidiaries account for more than half of its consolidated subsidiaries, and the risks of changes in laws and tax systems and sociopolitical instability at overseas locations. - FY2018RestatedAnnual report
「More than half of the group’s consolidated subsidiaries are overseas subsidiaries, and the group conducts production and sales activities around the world. These overseas locations face risks including unforeseen changes in laws, regulations and tax systems, as well as social and political instability resulting from terrorism, war and other factors.」
The group continues to disclose its structure, in which overseas subsidiaries account for more than half of its consolidated subsidiaries, and the risks of legal and regulatory changes and sociopolitical instability at overseas locations. - FY2017RestatedAnnual report
「More than half of the group’s consolidated subsidiaries are overseas subsidiaries, and the group conducts production and sales activities around the world. These overseas locations face risks including unforeseen changes in laws, regulations and tax systems, as well as social and political instability resulting from terrorism, war and other factors.」
The group continues to disclose its structure, in which overseas subsidiaries account for more than half of its consolidated subsidiaries, and the risks of legal and regulatory changes and sociopolitical instability at overseas locations. - FY2016First statedAnnual report
「More than half of the consolidated subsidiaries are overseas subsidiaries, and the group conducts production and sales activities around the world. These overseas locations face risks including unforeseen changes in laws, regulations and tax systems, as well as social and political instability resulting from terrorism, war and other factors.」
This quantitatively demonstrates the group’s dependence on overseas operations, with more than half of its consolidated subsidiaries located outside Japan.