Country Risks in Overseas Business Activities
First written in FY2016. 12 of 26 entries say "Restated". Latest entry: FY2026.
Daiichi Kigenso Kagaku-Kogyo moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 48 of 96 companies on the "Worse" side.
43 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「During the current consolidated fiscal year, the global economy became even more uncertain as shifts in trade policy, including the imposition of reciprocal tariffs by the second Trump administration in the United States, had a significant impact on international supply chains and trade structures. … China's export restrictions on rare-earth-related products continued, increasing concerns about stable procurement of critical raw materials.」
Regarding country risk in overseas business activities, the disclosure specifically described shifts in trade policy, including reciprocal tariffs, China's export restrictions on rare earths, and their effects on supply chains and trade structures. - FY2025WorsenedAnnual report
「In particular, the prolonged confrontation between the United States and China has increased the risk of affecting procurement and sales, and the company is addressing this through ongoing information collection and internal sharing. Going forward, it will review and rebuild its supply chain in response to changes in country risk.」
Regarding country risk in the overseas business, the prolonged confrontation between the United States and China was identified as increasing the risk to procurement and sales. In addition to collecting and sharing information internally, the company presented supply chain review and rebuilding as countermeasures. - FY2025-H1Continued disclosure of geopolitical and Chinese economic uncertaintyAnnual report
「During the current interim consolidated accounting period, economic conditions remained uncertain due to factors including continued tensions surrounding Ukraine and the Middle East, monetary policies in various countries, and concerns about the outlook for the Chinese economy.」
Regarding the overseas business environment, the disclosure identified continued tensions surrounding the Middle East in addition to Ukraine, monetary policies in various countries, and concerns about the outlook for the Chinese economy as sources of uncertainty. - FY2024Expanded the regions subject to country riskAnnual report
「The Group operates globally across Asia, North America, Europe and the so-called Global South, including production and sales activities by its overseas affiliates.」
In addition to the traditional regions of Asia, North America and Europe, the Global South and other regions were explicitly identified as regions covered by overseas business activities. - FY2023-Q3RestatedAnnual report
「During the third quarter of the current consolidated fiscal year (1 April 2022 to 31 December 2022), the global economy remained affected by unresolved economic and social disruption caused by COVID-19. Economic sanctions accompanying the prolonged Russian invasion of Ukraine, along with restrictions on activity under China's "zero-COVID" policy, further aggravated supply chain disruption. In addition, monetary tightening became the prevailing policy stance to contain rising inflation, increasing concerns about a global economic slowdown.」
The disclosure explains that the Russia-Ukraine situation, China's activity restrictions, economic sanctions and inflation, as well as concerns about a global economic slowdown resulting from monetary tightening, have continued. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current consolidated fiscal year (1 April 2022 to 30 September 2022), the global economy remained affected by unresolved economic and social disruption caused by COVID-19. Economic sanctions and restrictions on logistics routes accompanying the prolonged Russian invasion of Ukraine, along with restrictions on activity under China's "zero-COVID" policy, further aggravated supply chain disruption. In addition, monetary tightening became the prevailing policy stance to contain rising inflation, increasing concerns about a global economic slowdown.」
Supply chain disruption caused by the Russia-Ukraine situation, China's activity restrictions, and economic sanctions and logistics route restrictions continued, while concerns about a global economic slowdown resulting from monetary tightening also emerged. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year (1 April 2022 to 30 June 2022), the global economy remained affected by unresolved economic and social disruption caused by COVID-19. Economic sanctions and restrictions on logistics routes accompanying the prolonged Russian invasion of Ukraine, along with restrictions on activity under China's "zero-COVID" policy, further aggravated supply chain disruption. Global inflation also progressed to levels described as the highest in 40 years.」
The disclosure states that the country and political and economic risks surrounding overseas business activities became more tangible through the prolonged Russia-Ukraine situation, China's activity restrictions, and the effects of economic sanctions and logistics restrictions, while supply chain disruption and inflation progressed. - FY2022RestatedAnnual report
「The Group operates globally in Asia, North America, Europe and other regions, including production and sales activities by overseas affiliates. Unexpected political instability or the enactment or changes of laws, regulations or tax systems in these regions could affect the Group's operating results and financial position.」
The company continues to address the political, legal, regulatory and tax risks associated with its overseas business activities by collecting regulatory information and sharing it within the Group. - FY2021RestatedAnnual report
「In response, the Group seeks to mitigate risks by collecting regulatory information on a daily basis at its overseas affiliates and strengthening information-sharing systems within the Group. It also collects information globally on regulations concerning chemical products and closely monitors regulations affecting sales.」
The Company continues to collect regulatory information and share it within the Group in response to risks associated with political conditions, laws, regulations and tax systems affecting overseas business activities. - FY2021-Q3RestatedAnnual report
「During the nine-month period ended 31 December 2019, uncertainty surrounding trade policy in the US-China trade friction and a slowdown in overseas economies weighed on companies' willingness to invest in facilities. Although employment and income conditions remained firm, stagnation continued, particularly in export industries and manufacturing.」
The Company explains that uncertainty surrounding US-China trade friction, a slowdown in overseas economies, and continued stagnation in export industries and manufacturing remained factors affecting the environment surrounding overseas business activities. - FY2021-Q1MaterialisedAnnual report
「During the three-month period ended 30 June 2020, the global economy was affected by the spread of the novel coronavirus across regions worldwide. Europe and the United States implemented restrictions on movement and bans on store operations in response to the spread of the infection, while Japan also declared a state of emergency, affecting corporate activities.」
The Company states that restrictions on movement, bans on store operations and a state of emergency actually occurred as a result of the spread of the novel coronavirus, affecting corporate activities, as country and social-condition risks related to business activities including overseas operations. - FY2020RestatedAnnual report
「The Group operates globally in Asia, North America, Europe and other regions, including production activities by overseas subsidiaries and other entities. Unexpected enactment or changes to laws, regulations or tax systems in these regions could materially affect the Group's operating results and financial position.」
The Company continues to describe country risks associated with laws, regulations, tax systems and other factors related to overseas production and sales. - FY2020-Q3RestatedAnnual report
「During the nine-month period ended 31 December 2019, uncertainty surrounding trade policy in the US-China trade friction and a slowdown in overseas economies weighed on companies' willingness to invest in facilities. Although employment and income conditions remained firm, stagnation continued, particularly in export industries and manufacturing.」
The Company explains that uncertainty surrounding US-China trade friction and a slowdown in overseas economies weighed on companies' willingness to invest in facilities, and that stagnation continued in export industries and manufacturing. - FY2020-Q2WorsenedAnnual report
「During the six-month period ended 30 September 2019, the global economy faced growing concerns about an economic slowdown due to intensifying US-China trade friction. Capital investment weakened, particularly in the manufacturing sector, and some companies postponed investment as corporate sentiment declined, increasing uncertainty about the outlook.」
The Company states that uncertainty about the outlook increased due to intensifying US-China trade friction, concerns about an economic slowdown, weaker corporate sentiment, and weak or postponed capital investment in the environment surrounding overseas business activities. - FY2020-Q1WorsenedAnnual report
「During the three-month period ended 30 June 2019, the global economy faced growing concerns about an economic slowdown due to intensifying US-China trade friction, which increased uncertainty about the outlook. In addition, capital investment weakened or was postponed in some cases as corporate sentiment declined, particularly in the manufacturing sector.」
The Company states that the environment surrounding overseas business activities was affected by intensifying US-China trade friction, growing concerns about an economic slowdown and increased uncertainty about the outlook. - FY2019WorsenedAnnual report
「During the consolidated fiscal year, the global economy remained subject to concerns over the prolonged US-China trade friction, the slowdown in the Chinese economy, Brexit in Europe and geopolitical risks. Although current business sentiment deteriorated, corporate earnings remained firm and capital investment also remained solid.」
The Company states that US-China trade friction, the slowdown in the Chinese economy, Brexit and geopolitical risks continued to affect the environment surrounding overseas business activities, while business sentiment deteriorated. - FY2019-Q3WorsenedAnnual report
「During the nine-month period ended 31 December 2018, the global economy continued to benefit from favorable employment and income conditions, and personal consumption remained firm. However, concerns about an economic slowdown increased due to the slowdown in the Chinese economy resulting from escalating US-China trade friction, the Brexit issue in Europe and geopolitical risks, while companies, particularly manufacturers concerned about deteriorating profitability, began to take a cautious stance toward new investment.」
The Company states that concerns about an economic slowdown increased in the environment surrounding overseas business activities due to escalating US-China trade friction, a slowdown in the Chinese economy, Brexit and geopolitical risks. - FY2019-Q2WorsenedAnnual report
「Meanwhile, the effects of US-China tensions have begun to materialize in part, and the Chinese economy is showing signs of slowing.」
The Company explains that the effects of US-China tensions have begun to materialize in the overseas business environment and that the Chinese economy is showing signs of slowing. - FY2019-Q1WorsenedAnnual report
「Although conditions also remained firm in China and emerging markets, concerns over US protectionist policies and US-China trade friction have increased uncertainty about the outlook.」
The Company states that concerns over US protectionist policies and US-China trade friction have increased uncertainty about the outlook for the external environment surrounding overseas business activities. - FY2018RestatedAnnual report
「If unexpected enactment or changes to laws, regulations or tax systems in the relevant regions, deterioration in political or economic conditions, or social disruption caused by terrorism or war occur, the Group's operating results and financial position may be affected, depending on the circumstances.」
The Company continues to identify country risks associated with institutional changes, political and economic conditions, terrorism, war and other factors in its global business and overseas production in Asia, North America, Europe and other regions. - FY2018-Q3RestatedAnnual report
「However, geopolitical risks persist and contain factors that could cause a downturn in the global economy.」
The Company reaffirms its recognition that geopolitical risks persist and could cause a downturn in the global economy. - FY2018-Q2RestatedAnnual report
「However, geopolitical risks persist and contain factors that could cause a downturn in the global economy.」
The Company indicates that geopolitical risks persist and could cause a downturn in the global economy. This is a reaffirmation of its recognition of the risks associated with political and economic conditions and other factors affecting overseas business activities. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the 1st quarter cumulative period. There were also no material changes to the risks described in the securities report for the previous fiscal year.」
The Company has disclosed that there have been no new occurrences or material changes concerning country risks in overseas business activities. - FY2017RestatedAnnual report
「Depending on the circumstances, unexpected changes in laws, regulations or tax systems in the relevant regions, deterioration in political or economic conditions, and social disruption caused by terrorism or war could affect the Group's operating results and financial position.」
The Company continues to identify the risks of institutional changes, political and economic conditions, and social disruption associated with sales activities in Asia, North America, Europe and other regions and production activities by overseas subsidiaries. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year under review, there were no newly arising business or other risks. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company has disclosed on an aggregate basis that there have been no new occurrences or material changes concerning country risks in overseas business activities. - FY2016First statedAnnual report
「Depending on the circumstances, unexpected changes in laws, regulations or tax systems in the relevant regions, deterioration in political or economic conditions, and social disruption caused by terrorism or war could affect the Group's operating results and financial position.」
Risks associated with institutional changes, political and economic conditions, and social disruption arising from sales and production activities in Asia, North America and Europe.