Uncertainty from the Chinese and Emerging-Market Economies, Geopolitical Developments and Crude Oil Prices
First written in FY2016. 15 of 30 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-11-12.
Nichiban moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 158 of 184 companies on the "Worse" side.
73 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The situation remained unstable due to prolonged geopolitical risks, foreign exchange volatility, and persistently high raw material and energy prices.」
The unstable business environment caused by geopolitical risks, foreign exchange volatility, and persistently high raw material and energy prices continued. - FY2026-H1WorsenedAnnual report
「Although the number of visitors to Japan increased, the business environment remained unstable due to persistently weak inbound consumption, high prices, prolonged geopolitical risks, and US tariff policies, and the business environment surrounding the Group remained unpredictable.」
In addition to the previously cited geopolitical and price-related factors making the outlook uncertain, the document cites US tariff policies and persistently weak inbound consumption, stating that the unstable business environment continued. - FY2024-Q2SoftenedAnnual report
「While inbound demand recovered following the reclassification of COVID-19 as a Class 5 infectious disease, the outlook remained uncertain due to the prolonged situation in Ukraine and rising prices resulting from persistently high energy and raw material prices」
The document recognizes the recovery in inbound demand following the reclassification of COVID-19 as a Class 5 infectious disease, with some improvement from the previous period, while uncertainty due to the situation in Ukraine and persistently high energy and raw material prices continued. - FY2024-Q1RestatedAnnual report
「The outlook remained uncertain due to the prolonged situation in Ukraine and the impact of soaring energy resource and raw material prices, and the business environment surrounding the Group remained unpredictable.」
The document continues to cite uncertainty over the outlook due to the situation in Ukraine and soaring energy resource and raw material prices. - FY2023-Q3SoftenedAnnual report
「During the first nine months of the fiscal year, Japan's economy showed signs of recovery in socioeconomic activity as activity restrictions were eased, despite the continuing impact of COVID-19. However, the outlook remained uncertain amid the depreciation of the yen and rising prices and soaring energy resource and raw material costs resulting from the situation in Ukraine.」
While socioeconomic activity showed signs of recovery as restrictions were eased, uncertainty over the outlook due to the depreciation of the yen, the situation in Ukraine, and soaring prices of energy resources and raw materials continued. - FY2023-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan's economy showed signs of a gradual recovery as priority preventive measures were lifted and activity restrictions were eased. However, the outlook remained uncertain amid the renewed spread of COVID-19, the rapid depreciation of the yen, and rising prices and soaring energy resource and raw material costs resulting from the situation in Ukraine.」
While recognizing the recovery resulting from the easing of activity restrictions, the document cites the renewed spread of COVID-19, the rapid depreciation of the yen, and soaring prices of energy resources and raw materials associated with the situation in Ukraine as factors making the outlook uncertain. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, Japan's economy showed signs of a gradual recovery as restrictions on activity were eased, including the full lifting of priority preventive measures to prevent the spread of COVID-19. However, the outlook remained uncertain as this was accompanied by rising prices resulting from the rapid depreciation of the yen and surging raw material and energy prices. In addition, it became necessary to monitor developments even more closely, including concerns over the prolonged global semiconductor shortage and the emergence of geopolitical risks from Russia's invasion of Ukraine.」
While recognizing the recovery resulting from the easing of activity restrictions, the document explicitly identifies the rapid depreciation of the yen, rising prices, surging raw material and energy prices, concerns over the prolonged semiconductor shortage, and geopolitical risks from the invasion of Ukraine as new factors making the outlook uncertain. - FY2022WorsenedAnnual report
「In addition to concerns over the prolonged global semiconductor shortage and surging raw material and energy prices, it became necessary to monitor developments even more closely, including the emergence of geopolitical risks from Russia's invasion of Ukraine.」
In addition to the previously cited infectious diseases, semiconductor shortage, and raw material prices, the document explicitly identifies surging raw material and energy prices and the emergence of geopolitical risks from Russia's invasion of Ukraine. - FY2022-Q3RestatedAnnual report
「Overseas, the outlook remained uncertain due to the renewed spread of COVID-19 caused by variants, the global semiconductor shortage, and rising raw material and logistics costs.」
The document continues to cite uncertainty in the external environment, including the renewed spread of infections caused by variants, the semiconductor shortage, and rising raw material and logistics costs. - FY2022-Q2RestatedAnnual report
「During the first six months of the fiscal year, COVID-19 vaccination progressed in Japan and overseas, and some economic activity showed signs of recovery. However, the outlook remained uncertain due to the renewed spread of COVID-19, particularly in Southeast Asia, and production cuts by automakers caused by the global semiconductor shortage.」
While recognizing some recovery resulting from vaccination, the document continues to cite uncertainty due to the renewed spread of infections in Southeast Asia, the semiconductor shortage, and production cuts by automakers. - FY2021-Q3RestatedAnnual report
「During the first nine months of the fiscal year, the economic environment remained significantly affected by the global restrictions on economic and social activity resulting from the spread of COVID-19, and the Group was also significantly affected. Although economic activity gradually resumed, the outlook remained uncertain and the business environment surrounding the Group remained unpredictable.」
While recognizing the gradual resumption of economic activity, the document continues to cite global activity restrictions and uncertainty over the outlook resulting from COVID-19. - FY2021-Q2SoftenedAnnual report
「Although economic activity gradually resumed after the state of emergency was lifted, the outlook remained uncertain and the business environment surrounding the Company remained unpredictable.」
Economic activity gradually resumed after the state of emergency was lifted, showing some recovery compared with the first quarter. However, uncertainty over the outlook and caution regarding the business environment continued. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the economic environment was affected by widespread restrictions on economic and social activity implemented globally due to the spread of COVID-19. The Company was also significantly affected, and the outlook remained uncertain, with the business environment surrounding the Company remaining unpredictable.」
The spread of COVID-19 continued to result in global restrictions on economic and social activity and a significant impact on the Company, further increasing uncertainty in the external environment. - FY2020WorsenedAnnual report
「The outlook for Japan's domestic economy remained uncertain due to the impact of US-China trade friction, the dampening of corporate and consumer sentiment from the consumption tax increase, worsening Japan-South Korea relations, and the spread of the novel coronavirus. The business environment surrounding the Company remained unpredictable.」
In addition to the previously cited trade issues, consumption tax increase, and Japan-South Korea relations, the spread of the novel coronavirus was added as a major factor making the external environment uncertain. The impact on inbound demand and tape demand was also cited as a factor behind the decline in sales. - FY2020-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economic outlook remained uncertain due to trade issues such as US-China trade friction, worsening Japan-South Korea relations, and the impact of the consumption tax increase in October 2019.」
The document continues to cite US-China trade issues, worsening Japan-South Korea relations, and the impact of the consumption tax increase on the economy as factors making the outlook uncertain. - FY2020-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan's economic outlook remained uncertain due to trade issues such as US-China trade friction, worsening Japan-South Korea relations, and the impact of the consumption tax increase in October 2019.」
In addition to the previously cited US-China trade issues and consumption tax increase, worsening Japan-South Korea relations are explicitly identified as a factor making the outlook uncertain. The overseas business discussion also refers to the slowdown in the Chinese economy and civil demonstrations in Hong Kong. - FY2020-Q1RestatedAnnual report
「During the first quarter of the fiscal year, personal consumption in Japan was on a recovery trend as employment and income conditions improved. However, the economic outlook remained uncertain due to concerns over trade issues such as US-China trade friction, the slowdown in the Chinese economy, and the impact of the consumption tax increase scheduled for October 2019.」
The document continues to cite uncertainty over the outlook due to US-China trade issues, the slowdown in the Chinese economy, and the consumption tax increase scheduled for October 2019. - FY2019WorsenedAnnual report
「Personal consumption remained firm on the back of favorable employment conditions, but the outlook remained uncertain due to factors including the consumption tax increase scheduled for October 2019 and the impact of trade issues between the US and China.」
In addition to the previously cited trade issues, the consumption tax increase scheduled for October 2019 is explicitly identified as a factor making the outlook uncertain. - FY2019-Q3RestatedAnnual report
「Against this economic backdrop, in the final year of its medium- to long-term management plan NB100, the Group is working on establishing ¥50 billion corporate quality, developing human resources, and realizing a creative and development-oriented company as its strategic framework.」
The economic environment remained uncertain due to successive natural disasters, US-China trade issues, the UK's withdrawal from the EU, and sharp fluctuations in share prices and foreign exchange rates. - FY2019-Q2WorsenedAnnual report
「During the first six months of the fiscal year, the Japanese economy saw sustained improvements in corporate earnings and continued recovery in employment, leading to expectations of a pickup in personal consumption. However, the outlook remained uncertain amid concerns over the impact on the economy of the US's protectionist trade policies and trade friction, persistently high crude oil prices, and natural disasters in Japan and overseas.」
US protectionist trade policies, trade friction, persistently high crude oil prices, and the impact of natural disasters in Japan and overseas on the economy are cited as new factors making the outlook uncertain. - FY2019-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the Japanese economy saw sustained improvements in corporate earnings, and personal consumption was expected to pick up as employment and income conditions improved. However, the outlook remained uncertain due to the effects of rising US interest rates and concerns over trade issues between the US and China.」
In addition to the previously cited slowdown in the Chinese economy and instability overseas, rising US interest rates and concerns over US-China trade issues are explicitly identified as factors making the outlook uncertain. - FY2018-Q2WorsenedAnnual report
「During the cumulative consolidated second quarter, the Japanese economy continued on a moderate recovery trend supported by various government policies, but the outlook remained uncertain due to instability in conditions in other countries, the slowdown in the Chinese economy, U.S. policy developments, and geopolitical risks in Northeast Asia.」
In addition to the previously cited conditions overseas, the Chinese economy and US policy trends, geopolitical risks in Northeast Asia are explicitly identified. - FY2018-Q1RestatedAnnual report
「During the cumulative consolidated first quarter, the Japanese economy continued on a moderate recovery trend supported by various government policies, but the outlook remained uncertain due to instability in conditions in other countries, the slowdown in the Chinese economy, and the impact of U.S. policy developments on the global economy.」
The Company continues to cite uncertainty in the global economy, including conditions in other countries, the slowdown in the Chinese economy, and U.S. policy developments. - FY2017RestatedAnnual report
「Uncertainty about the outlook remains due to the slowdown in the Chinese economy and instability in conditions in other countries, dampening the recovery in personal consumption.」
The Company continues to cite uncertainty resulting from the slowdown in the Chinese economy, instability in overseas conditions, and the slowing recovery in personal consumption. - FY2017-Q3RestatedAnnual report
「During the cumulative consolidated third quarter, the Japanese economy continued on a moderate recovery trend, but exchange rates fluctuated sharply due to developments in the European economy and the U.S. presidential election, significantly affecting share prices. In addition, uncertainty about the outlook increased due to instability in overseas conditions and the slowdown in the Chinese economy, dampening the recovery in personal consumption.」
The Company continues to cite uncertainty about the outlook resulting from exchange-rate fluctuations, instability in overseas conditions, the slowdown in the Chinese economy, and the slowing recovery in personal consumption. - FY2017-Q2RestatedAnnual report
「During the cumulative consolidated second quarter, the Japanese economy continued to recover moderately, but uncertainty about the outlook increased, and the recovery in personal consumption was dampened by yen appreciation resulting from the UK's decision to leave the EU, instability in overseas conditions including the political situation in Europe, and the slowdown in emerging-market economies.」
The Company continues to cite the UK's withdrawal from the EU, yen appreciation, the situation in Europe, the slowdown in emerging-market economies, and the slowing recovery in personal consumption as factors contributing to uncertainty. - FY2017-Q1WorsenedAnnual report
「Uncertainty about the outlook increased due to sluggish personal consumption, yen appreciation resulting from the UK's withdrawal from the EU, falling share prices, and instability in overseas conditions, including the political situation in Europe.」
In addition to China, emerging markets, geopolitics, and crude oil prices, the Company cites the UK's withdrawal from the EU, yen appreciation, falling share prices, and the political situation in Europe as factors contributing to uncertainty, and states that uncertainty about the outlook increased. - FY2016First statedAnnual report
「However, the outlook remains uncertain due to factors including downside risks to growth in China and emerging-market economies, concerns over political risks in the Middle East and Far East Asia, and the continued impact of low crude oil prices.」
The Company cites downside risks to the Chinese and emerging-market economies, geopolitical risks, and crude oil prices as external factors contributing to uncertainty.