Domestic economic stagnation and slower growth in China and emerging Asian economies
First written in FY2017-Q1. 11 of 34 entries say "Worsened", first in FY2017-Q2. Latest entry: 2026-08-07.
Koatsu Gas Kogyo moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2019: 100 of 178 companies on the "Worse" side.
69 other companies' latest entry also says "Restated".
- 2026-08-07RestatedResults
「中東情勢の影響を受けた物価上昇やエネルギーコストの上昇、不安定な国際情勢の影響による為替・金利の変動など、依然として先行き不透明な状況で推移しました。」
物価・エネルギーコスト、国際情勢、為替・金利変動による不透明要因を継続して記載した。 - FY2026Recovery alongside overseas uncertainty, higher resource prices and interest-rate volatilityAnnual report
「During the consolidated fiscal year, Japan’s economy showed signs of a gradual recovery due to improvements in employment and the income environment and inbound demand. However, it remained uncertain due to heightened tensions overseas, inflation accompanying surging resource and energy prices, and the effects of interest-rate fluctuations.」
While indicating a recovery driven by the employment and income environment and inbound demand, the disclosure cited overseas conditions, surging resource and energy prices, inflation, and interest-rate fluctuations as factors contributing to uncertainty. - FY2026-H1A recovery coexists with high prices and U.S. trade policyAnnual report
「During the interim consolidated accounting period, Japan’s economy showed signs of a gradual recovery due to improvements in employment and the income environment and inbound demand. However, continued inflation caused by persistently high resource and raw material prices and the effects of U.S. trade policy were evident in some areas, and concerns that the economy could be pushed downward left the outlook uncertain.」
While noting a recovery driven by improvements in employment and the income environment and inbound demand, the disclosure indicated concerns that persistently high resource and raw material prices, inflation, and U.S. trade policy could weigh on the economy. - FY2025RestatedAnnual report
「During the consolidated fiscal year, Japan’s economy was on a gradual recovery trend due to improvements in corporate earnings and the employment and income environment. However, it remained uncertain due to the effects of a downturn in overseas economies stemming from concerns over the outlook for the Chinese economy and persistently high energy and raw material prices.」
The disclosure continued to describe a gradual economic recovery coexisting with uncertainty arising from the Chinese economy, overseas economies, and energy and raw material prices. - FY2025-H1A gradual recovery coexists with uncertainty from China and high costsAnnual report
「During the interim consolidated accounting period, Japan’s economy was on a gradual recovery trend due to improvements in corporate earnings and the employment and income environment. However, it remained uncertain due to the effects of a downturn in overseas economies stemming from concerns over the outlook for the Chinese economy and persistently high energy and raw material prices.」
While indicating a gradual recovery driven by improvements in corporate earnings and the employment and income environment, the disclosure cited concerns over the outlook for the Chinese economy, a downturn in overseas economies, and persistently high energy and raw material prices as factors contributing to uncertainty. - FY2024WorsenedAnnual report
「Japan’s economy is expected to continue normalizing socioeconomic activity following the COVID-19 pandemic. However, concerns over the outlook for the Chinese market, geopolitical risks in Europe and the Middle East, and persistently high costs caused by inflation are expected to continue, and uncertainty about the outlook is likely to remain.」
While recognizing the normalization of economic activity, the disclosure explicitly identified concerns over the outlook for the Chinese market, geopolitical risks in Europe and the Middle East, and persistently high costs caused by inflation as new factors contributing to uncertainty. - FY2024-Q3Normalization continues, but concerns over the outlook for the Chinese economy have been addedAnnual report
「During the cumulative third quarter of the fiscal year, Japan’s economy saw progress toward the normalization of socioeconomic activity following the COVID-19 pandemic and signs of a gradual recovery. However, amid concerns over the outlook for the Chinese economy and unstable international conditions, it remained uncertain due to the effects of persistently high raw material and energy prices and inflation driven by the weaker yen.」
While noting the normalization of socioeconomic activity and a gradual recovery, the disclosure newly identified concerns over the outlook for the Chinese economy and continued to cite persistently high raw material and energy prices and inflation caused by the weaker yen as factors contributing to uncertainty. - FY2024-Q2Normalization continues, but high raw material and energy prices and weaker yen-driven inflation persistAnnual report
「During the cumulative second quarter of the fiscal year, Japan’s economy saw progress toward the normalization of socioeconomic activity following the COVID-19 pandemic and signs of a gradual recovery. However, amid unstable international conditions, it remained uncertain due to the effects of persistently high raw material and energy prices and inflation driven by the weaker yen.」
While noting the normalization of socioeconomic activity and a gradual recovery following the COVID-19 pandemic, the disclosure explicitly identified unstable international conditions, persistently high raw material and energy prices, and inflation driven by the weaker yen as factors contributing to uncertainty. - FY2024-Q1Normalization advances, but higher raw material prices and exchange-rate volatility cloud the outlookAnnual report
「During the first quarter of the fiscal year, Japan’s economy showed signs of a gradual recovery as social and economic activity normalized following COVID-19’s reclassification to Category 5. However, the economy remained in an uncertain environment due to persistently high raw material and energy prices resulting from the prolonged Russia-Ukraine situation and exchange-rate fluctuations caused by monetary tightening around the world.」
While noting the normalization of socioeconomic activity and a gradual recovery following the reclassification of COVID-19 as a Class 5 disease, the disclosure identified persistently high raw material and energy prices, foreign-exchange volatility caused by monetary tightening, and the prolonged Russia-Ukraine situation as factors contributing to uncertainty. - FY2023-Q3Normalization advances, but supply constraints, higher resource prices and exchange-rate volatility persistAnnual report
「The normalization of economic activity progressed as restrictions on movement related to COVID-19 were relaxed, and the economy showed signs of a gradual recovery. However, it remained in an uncertain environment due to supply-chain constraints, soaring resource prices stemming from the Russia-Ukraine situation, and sharp fluctuations in foreign exchange rates.」
While noting the normalization of economic activity and recovery in the economy following the relaxation of restrictions on movement, the report continued to cite uncertainty about the outlook caused by supply-chain constraints, soaring resource prices and sharp foreign exchange fluctuations. - FY2023-Q2Economic recovery alongside supply constraints, higher resource prices and yen depreciationAnnual report
「Although the relaxation of restrictions on movement due to COVID-19 led to signs of recovery in economic activity, the economy remained in an uncertain environment due to supply-chain disruption caused by lockdowns in major Chinese cities, soaring resource prices resulting from the prolonged Russia-Ukraine conflict, and a rapid depreciation of the yen.」
While noting the relaxation of restrictions on movement and the recovery in economic activity, the report continued to identify lockdowns in China, soaring resource prices and rapid yen depreciation as sources of uncertainty about the outlook. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, Japan’s economy remained in an uncertain environment. Although the spread of COVID-19 had eased and domestic restrictions on movement had been relaxed, supply chains were disrupted by lockdowns in major Chinese cities, while the prolonged situation in Ukraine, rising resource prices and yen depreciation also weighed on the outlook.」
While noting that the spread of COVID-19 had eased and restrictions on movement had been relaxed, the report identified supply-chain disruption caused by lockdowns in major Chinese cities, the prolonged situation in Ukraine, rising resource prices and yen depreciation as new sources of uncertainty. - FY2022WorsenedAnnual report
「Japan’s economy is expected to remain in an uncertain environment, with many unresolved factors, including further resource price increases caused by the worsening situation in Ukraine and restrictions on economic activity if COVID-19 infections spread again.」
In addition to the pandemic and restrictions on economic activity, the report added soaring resource prices caused by the worsening situation in Ukraine as a future source of uncertainty. - FY2022-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan’s economy remained in an uncertain environment. Although some social and economic activity showed signs of improvement amid restrictions caused by the prolonged impact of COVID-19, the end of the pandemic was still not in sight.」
The report continued to recognize that some social and economic activity was improving, while the prolonged COVID-19 pandemic and uncertainty over its end continued. - FY2022-Q2Some improvement, but no clear end in sightAnnual report
「During the first six months of the fiscal year, Japan’s economy remained in an uncertain environment. Although some social and economic activity showed signs of improvement amid restrictions caused by COVID-19, the end of the pandemic was still not in sight.」
While the report added that some social and economic activity showed signs of improvement, it maintained the view that the end of the pandemic was not in sight and the outlook remained uncertain. - FY2022-Q1RestatedAnnual report
「During the first quarter of the fiscal year, Japan’s economy remained in an uncertain environment. Although social and economic activity showed signs of a temporary recovery amid substantial restrictions caused by COVID-19, infections continued to spread.」
The report continued to describe an economic environment marked by restrictions on social and economic activity, a temporary recovery, continued spread of infections and uncertainty about the outlook. - FY2021-Q3Outlook uncertain following renewed infections after a temporary recoveryAnnual report
「During the first nine months of the fiscal year, Japan’s economy remained in an uncertain environment as economic activity continued to stagnate due to the global spread of COVID-19. Although there were signs of a temporary recovery, the renewed spread of infections clouded the outlook.」
The report noted that, although economic activity showed a temporary recovery, the outlook became uncertain again as infections spread anew. - FY2021-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan’s economy remained in an extremely difficult and highly uncertain environment as economic activity stagnated due to the global spread of COVID-19.」
The report continued to describe stagnating economic activity caused by the spread of COVID-19 and an extremely difficult, highly uncertain economic environment. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, Japan’s economy remained in extremely difficult conditions, as economic activity was severely restricted by the global spread of COVID-19.」
In addition to the uncertainty caused by U.S.-China trade friction and other factors, the report specifically cited the severe restrictions on economic activity resulting from the spread of COVID-19, emphasizing the severity of the economic environment. - FY2020WorsenedAnnual report
「During the fiscal year, Japan’s economy showed signs of a gradual recovery against a backdrop of improving employment and income conditions, but remained in an extremely uncertain environment due to sluggish external demand caused by prolonged U.S.-China trade friction and other international instability, as well as restrictions on economic activity resulting from the global spread of COVID-19.」
In addition to the existing U.S.-China trade friction and weak external demand, the report specifically cited restrictions on economic activity resulting from the spread of COVID-19, increasing uncertainty about the outlook. - FY2020-Q3WorsenedAnnual report
「During the first nine months of the fiscal year, Japan’s economy showed signs of a gradual recovery against a backdrop of improving employment and income conditions, but remained in an environment of increasing uncertainty about the outlook as prolonged U.S.-China trade friction and other international instability reduced external demand and weakened some exports and production.」
While recognizing a gradual recovery trend, the report cited the contraction in external demand caused by prolonged U.S.-China trade friction, weakness in exports and production, and increasing uncertainty about the outlook. - FY2020-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan’s economy showed signs of a gradual recovery against a backdrop of improving employment and income conditions, but remained in an uncertain environment as prolonged U.S.-China trade friction reduced external demand and weakened some exports, production and capital investment.」
While recognizing a gradual recovery trend against a backdrop of improving employment and income conditions, the report newly specified the contraction in external demand caused by prolonged U.S.-China trade friction and weakness in exports, production and capital investment. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, Japan’s economy showed signs of a gradual recovery against a backdrop of improving employment and income conditions, but remained in an uncertain environment amid concerns over a global economic slowdown caused by escalating U.S.-China trade friction.」
While recognizing a gradual recovery trend, the report cited concerns over a global economic slowdown caused by escalating U.S.-China trade friction as a source of uncertainty about the outlook. - FY2019WorsenedAnnual report
「Japan’s economy is expected to remain on a gradual recovery trend, but uncertainty is expected to persist as growing international instability leaves downside risks to the economy high and raises concerns over its impact on the domestic economy.」
While expressing expectations for a gradual recovery trend, the report cited growing international instability and high downside risks to the economy. - FY2019-Q3Uncertainty from higher raw material prices, rising logistics costs, U.S.-China trade friction and financial market volatilityAnnual report
「During the first nine months of the fiscal year, Japan’s economy remained in an uncertain environment despite signs of a gradual recovery, amid concerns over the impact of soaring raw material prices, higher logistics costs, U.S.-China trade friction and volatility in financial and capital markets.」
While recognizing a gradual recovery trend, the report specifically identified soaring raw material prices, higher logistics costs, U.S.-China trade friction and volatility in financial and capital markets as sources of uncertainty. - FY2019-Q2Natural disasters, U.S.-China trade friction and higher raw material prices identified as new sources of uncertaintyAnnual report
「During the first six months of the fiscal year, Japan’s economy showed signs of a gradual recovery, but remained in an uncertain environment due to stagnation in corporate activity caused by successive natural disasters, downside risks to the global economy from U.S.-China trade friction and other factors, and rising raw material prices, including crude oil.」
While recognizing a gradual recovery trend, the report specifically identified stagnation in corporate activity caused by natural disasters, U.S.-China trade friction and rising raw material prices as sources of uncertainty about the outlook. - FY2019-Q1Recovery alongside policy concerns and higher raw material pricesAnnual report
「During the first quarter of the fiscal year, Japan’s economy showed signs of a gradual recovery, but remained in an uncertain environment due to concerns over policy developments in other countries and rising raw material prices, including crude oil.」
While recognizing a gradual recovery trend, the report cited concerns over policy developments in other countries and rising raw material prices, including crude oil, as sources of uncertainty about the outlook. - FY2018Recovery Trend Coexisting With UncertaintyAnnual report
「Japan’s economy is expected to remain on a gradual recovery trend, but uncertainty is expected to persist due to U.S. policy developments, geopolitical risks in neighboring countries, and risks from fluctuations in crude oil prices and foreign exchange rates.」
While maintaining the view that the economy will recover gradually, the report specifically identified U.S. policy, geopolitical risks, crude oil prices and foreign exchange rates as sources of uncertainty. - FY2018-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan’s economy remained on a gradual recovery trend, with production and exports increasing against a backdrop of robust U.S. and Chinese economies, while capital investment and private consumption showed signs of recovery.」
The report continued to recognize a gradual recovery trend, citing increases in production and exports against a backdrop of the U.S. and Chinese economies and signs of recovery in capital investment and private consumption. - FY2018-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan’s economy remained on a recovery trend, with improvements in capital investment and employment conditions continuing against a backdrop of improved corporate earnings.」
The report continued to state that corporate earnings, capital investment and employment conditions were improving and that the economy was on a recovery trend. - FY2018-Q1Broad-based recovery alongside weakness in the Chinese marketAnnual report
「During the first quarter of the fiscal year, Japan’s economy remained on a gradual recovery track, as exports increased on the recovery in overseas economies.」
The description changed from the stagnation and slowdown in overseas economies noted through the previous quarter to a recovery in overseas economies and a gradual recovery trend in the domestic economy. At the same time, weakness in the Chinese market was also noted for the chemicals business. - FY2017-Q3WorsenedAnnual report
「During the first nine months of the fiscal year, Japan’s economy showed signs of a gradual recovery, supported by the resilient U.S. economy, although weak private consumption and concerns over slower growth in China and emerging economies and a slowdown in Europe persisted.」
In addition to the previously noted slowdown in China and emerging economies, the report cited concerns over a slowdown in Europe. It also noted signs of recovery driven by the U.S. economy. - FY2017-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan’s economy remained stagnant, as exports struggled amid slower growth in China and emerging economies and a stronger yen, while private consumption remained weak.」
In addition to slower growth in China and emerging economies, the report specifically cited sluggish exports caused by yen appreciation and weak private consumption, noting that economic stagnation continued. - FY2017-Q1First statedAnnual report
「During the first quarter of the fiscal year, Japan’s economy remained in an uncertain environment, as improvements in corporate earnings and private consumption stalled and the economies of China and emerging Asian countries slowed.」
The business environment for the quarter noted, for the first time, stalled improvements in domestic corporate earnings and private consumption, along with slower growth in China and emerging Asian economies.