Deterioration in the Business Environment Due to the War in Ukraine, Yen Depreciation, and Higher Energy and Raw-Material Prices
First written in FY2022-Q3. 10 of 12 entries say "Worsened", first in FY2022. Latest entry: 2026-08-12.
Hi-CRATES moved to the "Worse" side of this theme in 2022, 2 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 22 of 47 companies on the "Worse" side.
16 other companies' latest entry also says "Worsened".
- FY2025WorsenedAnnual report
「During the current fiscal year, Japan's economy has remained in an extremely difficult situation due to the impact of tariff policies under the Trump administration, which took office in January 2025, prolonged international conflicts and continuing inflation. This has included more than 5,000 corporate bankruptcies in the first half, the first such occurrence in 12 years since 2013.」
In addition to the previously cited instability in international conditions and rising prices and labor costs, the company cites U.S. tariff policies, prolonged international conflicts and more than 5,000 corporate bankruptcies, providing a more specific description of the severity of the business environment. - FY2025-H1WorsenedAnnual report
「The impact of the tariff policies of the second Trump administration in the United States, which took office in January 2025, has increased uncertainty over economic conditions and price trends, and the situation remains difficult to predict.」
In addition to the previously cited instability in international conditions and rising prices, the company describes uncertainty over economic conditions and price trends resulting from U.S. tariff policies as a new external-environment risk. - FY2024RestatedAnnual report
「The outlook remains uncertain amid inflation caused by higher raw-material costs, rising labor costs due to labor shortages, and further instability in international conditions.」
The company continues to describe uncertainty in the business environment caused by rising prices and labor costs and instability in international conditions. - FY2024-Q2WorsenedAnnual report
「Global conditions, including the prolonged situation in Ukraine, further deterioration in the Middle East and concerns about the outlook for China's economy, remain difficult to predict, and the outlook continues to be uncertain.」
In addition to the previously cited situation in Ukraine, the company cites further deterioration in the Middle East and concerns about China's economy, stating that uncertainty in global conditions continues. - FY2024-Q1WorsenedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy showed signs of a gradual recovery in some areas, including a recovery in domestic consumption as the COVID-19 pandemic subsided. However, global conditions became increasingly serious due to the prolonged situation in Ukraine, deteriorating conditions in the Middle East and concerns about the outlook for China's economy, and downside risks to the economy remained difficult to predict.」
In addition to the previously cited situation in Ukraine, yen depreciation and inflation, the company cites deteriorating conditions in the Middle East and concerns about the outlook for China's economy, stating that global conditions and downside risks to the economy have become more serious. - FY2023-Q3WorsenedAnnual report
「Meanwhile, inflation caused by surging energy and raw-material prices continues, and the business environment remains uncertain.」
While the impact of COVID-19 is moving toward an end, surging energy and raw-material prices and inflation continue, and the business environment remains uncertain. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy had not yet achieved a sufficient recovery, although some expected an economic recovery as restrictions on activity were gradually eased and the shift to living with COVID-19 progressed. In addition, downside risks from a slowdown in the global economy became apparent amid persistent global inflationary pressures and rising resource prices, and the outlook remained uncertain.」
The company states that, in addition to global inflationary pressures and rising resource prices, downside risks from a slowdown in the global economy have become apparent. The dental-care industry also remains uncertain due to higher electricity charges and surging prices for precious metals used in dentistry and other materials. - FY2023-Q1WorsenedAnnual report
「Meanwhile, uncertainty continues, with concerns over sluggish personal consumption and deteriorating corporate earnings amid further escalation of tensions surrounding Ukraine, surging raw-material and energy prices, and inflation caused by yen depreciation.」
The company continues to highlight concerns over personal consumption and corporate earnings as further escalation of tensions surrounding Ukraine, surging raw-material and energy prices, and inflation caused by yen depreciation persist. - FY2022WorsenedAnnual report
「Meanwhile, the timing of the end of the COVID-19 pandemic remains unforeseeable. With tensions surrounding Ukraine, surging raw-material and energy prices, and inflation caused by the rapid depreciation of the yen continuing, concerns remain over sluggish personal consumption and deteriorating corporate earnings, and the environment remains uncertain.」
The company describes continued inflation caused by the situation in Ukraine, yen depreciation, and surging raw-material and energy prices as a business-environment risk, including concerns over deteriorating corporate earnings. - FY2022-Q3First statedAnnual report
「Meanwhile, the outlook remains uncertain due to yen depreciation accompanying the prolonged situation in Ukraine, rising prices caused by surging energy and raw-material prices, and intermittent waves of infection caused by new COVID-19 variants.」
The prolonged situation in Ukraine, yen depreciation, and surging energy and raw-material prices are identified for the first time as factors creating uncertainty in the business environment, and the increase in dental clinics' expenses due to higher prices is also described.