Uncertainty in the Economic Environment Due to Concerns over China’s Economic Slowdown and the Yen’s Rapid Appreciation
First written in FY2017-Q1. 21 of 32 entries say "Reframed", first in FY2017-Q2. Latest entry: FY2026.
Toho Acetylene 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 2020: 151 of 177 companies on the "Worse" side.
40 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「During the fiscal year, economic activity entered a gradual recovery trend as employment conditions and income levels improved. However, the outlook remained unclear amid heightened geopolitical risks, particularly in the Middle East, and persistent price increases.」
While indicating improvements in employment and income conditions and a gradual recovery, the company organizes the factors clouding the outlook as geopolitical risks, including those in the Middle East, and persistent price increases. - FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period, economic activity entered a gradual recovery trend as employment conditions and income levels improved. However, the outlook remained unclear amid increasing instability in the international situation and persistent price increases.」
While indicating improvements in employment and income conditions and a gradual recovery trend, the company organizes the factors clouding the outlook as increasing instability in the international situation and persistent price increases, replacing the previous specific geopolitical, foreign-exchange, and raw material factors. - FY2025-H1ReframedAnnual report
「During the interim consolidated accounting period, the economic environment was expected to recover gradually as employment and income conditions improved. However, the outlook remained unclear amid soaring crude oil prices resulting from foreign-exchange fluctuations and an unstable international situation.」
While indicating improvements in employment and income conditions and expectations of a gradual recovery, the company has updated the external-environment factors to foreign-exchange fluctuations, an unstable international situation, and soaring crude oil prices. - FY2024ReframedAnnual report
「During the fiscal year, the Japanese economy moved toward normalization of social and economic activity as restrictions on movement related to the infection were gradually eased. However, the outlook remained unclear because of persistently high raw material and energy prices resulting from the prolonged situation in Ukraine, rising prices caused by sharp foreign-exchange fluctuations, and global monetary tightening.」
While acknowledging the easing and normalization of restrictions related to the infection, the company organizes the factors clouding the outlook as the situation in Ukraine, raw material and energy prices, foreign exchange and prices, and global monetary tightening. - FY2024-Q3ReframedAnnual report
「During the third quarter cumulative period, normalization of economic activity progressed further following the infection's reclassification as a Category 5 disease. However, the outlook remained unclear amid soaring raw material and energy prices resulting from the prolonged situation in Ukraine and rising prices.」
While indicating that normalization of economic activity progressed further following the infection's reclassification as a Category 5 disease, the company cites the situation in Ukraine, soaring raw material and energy prices, and rising prices as factors clouding the outlook. - FY2024-Q2ReframedAnnual report
「During the second quarter cumulative period, the Japanese economy continued to recover gradually as the infection was reclassified as a Category 5 disease. However, the outlook remained unclear amid soaring raw material and energy prices resulting from the prolonged situation in Ukraine and the yen's depreciation.」
While indicating a gradual recovery following the infection's reclassification as a Category 5 disease, the company cites the prolonged situation in Ukraine, soaring raw material and energy prices, and the yen's depreciation as factors clouding the outlook. - FY2023ReframedAnnual report
「During the fiscal year, the Japanese economy moved toward normalization of social and economic activity as restrictions on movement related to the infection were gradually eased. However, the outlook remained unclear because of persistently high raw material and energy prices resulting from the prolonged situation in Ukraine, rising prices caused by sharp foreign-exchange fluctuations, and global monetary tightening.」
While acknowledging the easing and normalization of activity restrictions related to the infection, the company has updated the factors clouding the outlook to include the situation in Ukraine, raw material and energy prices, foreign exchange, prices, and global monetary tightening. - FY2023-Q3ReframedAnnual report
「During the third quarter cumulative period, the Japanese economy showed signs of a recovery as a result of the government's various policies aimed at both controlling the infection and maintaining social and economic activity. However, the outlook remained unclear amid concerns over the prolonged situation in Ukraine, substantial foreign-exchange fluctuations, and the effects of rising prices.」
While indicating an economic recovery, the company has updated the wording describing factors clouding the outlook, replacing the previous reference to soaring raw material and energy prices with wording that includes substantial foreign-exchange fluctuations and rising prices, as well as the prolonged situation in Ukraine. - FY2023-Q2ReframedAnnual report
「During the second quarter cumulative period, the Japanese economy showed signs of normalization in economic activity as a result of measures to address the infection and the government's various policies. However, the outlook remained unclear amid persistently high raw material and energy prices resulting from the prolonged situation in Ukraine and concerns over the impact of the yen's depreciation on economic activity.」
While indicating signs of normalization in economic activity, the company cites the prolonged situation in Ukraine, persistently high raw material and energy prices, and the yen's depreciation as new factors clouding the outlook. - FY2023-Q1ReframedAnnual report
「During the first quarter cumulative period, the Japanese economy showed signs of a recovery in economic activity as a result of the government's various policies addressing the infection. However, with the situation in Ukraine remaining difficult to foresee, raw material and energy prices remained high, and concerns arose over a renewed spread of the infection due to the emergence of new variants, leaving the outlook unclear.」
While indicating signs of a recovery in economic activity resulting from measures to control the infection, the company cites the situation in Ukraine, persistently high raw material and energy prices, and new variants as new factors clouding the outlook. - FY2022WorsenedAnnual report
「At present, the outlook remains unclear because of the impact of soaring raw material and energy prices resulting from the escalating situation in Ukraine.」
In addition to the difficult economic environment caused by the renewed spread of the infection, the situation in Ukraine and soaring raw material and energy prices have been added as new factors clouding the outlook. - FY2022-Q3ReframedAnnual report
「During the third quarter cumulative period, the Japanese economy showed signs of an economic recovery as the number of new infections declined with the increase in the vaccination rate and economic activity recovered following the lifting of the state of emergency and other measures. However, the outlook remained unclear amid concerns over the spread of new variants and soaring raw material and energy prices.」
While indicating signs of a recovery resulting from vaccinations and the lifting of the state of emergency, the company cites new variants and soaring raw material and energy prices as new factors clouding the outlook. - FY2022-Q2RestatedAnnual report
「During the second quarter cumulative period, a recovery in the Japanese economy was expected as COVID-19 vaccinations spread. However, the outlook remained unclear amid repeated declarations and extensions of the state of emergency in some regions.」
While indicating expectations of an economic recovery from the broader rollout of vaccinations, the company continues to state that the outlook remains unclear because of declarations and extensions of the state of emergency. - FY2022-Q1ReframedAnnual report
「During the first quarter cumulative period, the Japanese economy remained unclear in outlook as the infection spread again and social and economic activity was affected by stagnation resulting from the reissuance of the state of emergency and other measures. Although an improvement in economic conditions is expected as the number of vaccinated people increases, some companies have also begun to show signs of an earnings recovery.」
While continuing to cite the renewed spread of the infection and stagnation in activity resulting from the state of emergency as factors clouding the outlook, the company also notes expectations of improvement from increased vaccinations and an earnings recovery at some companies. - FY2021-Q3WorsenedAnnual report
「During the third quarter cumulative period, the Japanese economy remained in a difficult situation, affected by stagnation in social and economic activity resulting from the spread of the infection. Although economic activity began to reopen in stages, the rapid global increase in infections has left the outlook unclear.」
While acknowledging the phased reopening of economic activity, the company explicitly cites the rapid global increase in infections and stagnation in social and economic activity, and continues to state that the outlook remains unclear. - FY2021-Q2ReframedAnnual report
「Against this backdrop, net sales for the six months ended the second quarter of the current consolidated fiscal year were ¥13,361 million, a decrease of ¥3,556 million (21.0%) from the same period of the previous year. Operating income was ¥351 million, a decrease of ¥323 million (47.9%), ordinary income was ¥426 million, a decrease of ¥316 million (42.6%), and quarterly net income attributable to owners of the parent was ¥233 million, a decrease of ¥203 million (46.6%).」
While acknowledging the phased reopening of economic activity, the company continues to cite concerns over a renewed global spread of the infection as a key factor clouding the outlook. - FY2021-Q1WorsenedAnnual report
「During the first quarter cumulative period, the Japanese economy deteriorated rapidly and remained in a difficult situation as the spread of the infection constrained private consumption and corporate activity. In addition, with the global spread of the infection and the worsening of Japan–United States and China–United States frictions, the outlook remains unclear.」
The discussion has expanded to explicitly include the global spread of the infection and worsening Japan–United States and China–United States frictions, in addition to the existing uncertainty surrounding overseas conditions, while recognizing that domestic private consumption and corporate activity deteriorated rapidly under constraints. - FY2020WorsenedAnnual report
「Furthermore, the serious effects of the rapid global spread of the novel coronavirus disease (hereinafter, the “infection”) have begun to emerge.」
The company indicates that, in addition to United States trade policies and the slowdown in the Chinese economy, the serious effects of the rapid global spread of the infection have begun to emerge. - FY2020-Q3RestatedAnnual report
「Meanwhile, uncertainty surrounding overseas conditions, including trade friction arising from the United States' protectionist trade policies and concerns over a slowdown in the Chinese economy, has left the outlook unclear.」
Trade friction arising from the United States' protectionist trade policies and concerns over a slowdown in the Chinese economy continue to be cited as sources of uncertainty in overseas conditions and factors clouding the outlook. - FY2019ReframedAnnual report
「Meanwhile, uncertainty surrounding overseas conditions, including trade friction arising from the United States' protectionist trade policies and concerns over a slowdown in the Chinese economy, has left the outlook unclear.」
The factors contributing to uncertainty in overseas conditions are described as concerns over a slowdown in the Chinese economy, in addition to the United States' protectionist trade policies and trade friction. - FY2019-Q3SoftenedAnnual report
「Meanwhile, uncertainty surrounding overseas conditions, including concerns over trade friction arising from the United States' protectionist trade policies, has left the outlook unclear.」
While the view that the outlook remains unclear continues, the previously mentioned rise in energy prices is no longer stated explicitly, and the wording now focuses on the United States' protectionist trade policies and concerns over trade friction. - FY2019-Q2RestatedAnnual report
「Japan’s economy continued on a moderate recovery trend during the cumulative second quarter of the current consolidated fiscal year, supported by improvements in employment conditions and the income environment. Meanwhile, the outlook remained uncertain due to uncertainty in overseas conditions, including concerns over trade friction resulting from the protectionist trade policies of the United States and rising energy prices.」
The view that the outlook remains uncertain due to a moderate recovery in the domestic economy, concerns over trade friction resulting from protectionist US trade policies and rising energy prices continues. - FY2019-Q1ReframedAnnual report
「Meanwhile, the outlook remained uncertain due to uncertainty in overseas conditions, including concerns over trade friction resulting from the protectionist trade policies of the United States and rising energy prices.」
The view that the outlook remains uncertain continues, but the external factors cited have been updated to concerns over trade friction resulting from protectionist US trade policies and rising energy prices. - FY2018-Q3RestatedAnnual report
「Although improvements were seen in employment conditions and the income environment, Japan’s economy during the cumulative third quarter of the current consolidated fiscal year remained uncertain going forward due to US policy trends and political risks in Europe.」
The view that the outlook remains uncertain due to US policy trends and political risks in Europe continued during the cumulative third quarter. - FY2018-Q2ReframedAnnual report
「Although improvements were seen in employment conditions and the income environment, Japan’s economy during the cumulative second quarter of the current consolidated fiscal year remained uncertain going forward due to US policy trends and political risks in Europe.」
The view that the outlook remains uncertain continues, but the external factors cited have been updated to focus on US policy trends and political risks in Europe. - FY2018-Q1ReframedAnnual report
「Meanwhile, the outlook remained uncertain due to concerns over an economic slowdown in emerging economies, particularly China, US policy trends and continued instability in European politics.」
The view that the outlook remains uncertain continues, but the external factors cited have been updated to an economic slowdown in emerging economies, particularly China, US policy trends and European political conditions. - FY2017RestatedAnnual report
「Although improvements were seen in employment conditions and the income environment, Japan’s economy during the current consolidated fiscal year remained uncertain going forward due to concerns over a slowdown in emerging economies, particularly China, the UK’s withdrawal from the EU and the change of administration in the United States.」
Uncertainty about the outlook due to a slowdown in emerging economies, the UK’s withdrawal from the EU and the change of administration in the United States was also recognized for the full fiscal year. - FY2017-Q3ReframedAnnual report
「Although improvements were seen in employment conditions and the income environment, Japan’s economy during the cumulative third quarter of the current consolidated fiscal year remained uncertain going forward due to concerns over a slowdown in emerging economies, particularly China, the UK’s withdrawal from the EU and the change of administration in the United States.」
The view that the outlook remains uncertain continues, with the change of administration in the United States newly added as an external factor. - FY2017-Q2ReframedAnnual report
「Although improvements were seen in employment conditions and the income environment, Japan’s economy during the cumulative second quarter of the current consolidated fiscal year remained uncertain going forward due to concerns over a slowdown in emerging economies, particularly China, and the UK’s withdrawal from the EU.」
The view that the outlook remains uncertain continues, but the external factors cited have changed from rapid yen appreciation in the previous quarter to the UK’s withdrawal from the EU and other factors. - FY2017-Q1First statedAnnual report
「Although improvements were seen in employment conditions and the income environment, Japan’s economy during the cumulative first quarter of the current consolidated fiscal year remained uncertain going forward due to concerns over a slowdown in emerging economies, particularly China, and the rapid appreciation of the yen.」
Concerns over a slowdown in emerging economies, including China, and rapid yen appreciation were explicitly identified for the first time as external factors making the outlook for the domestic economy uncertain.