Uncertainty in the External Environment from Economic Slowdowns in Emerging Asian Economies and U.S. Monetary Policy
First written in FY2016-Q3. 16 of 32 entries say "Restated". Latest entry: 2026-08-07.
Nix moved to the "Worse" side of this theme in 2024, 5 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
21 other companies' latest entry also says "Reframed".
- FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period, conditions reflected the turmoil in the global economy, including increased export profits resulting from excessive yen depreciation, prolonged cost-push inflation and concerns over the impact of tariff measures by the U.S. president. As interstate conflicts continue and geopolitical risks become increasingly important to address, the company has worked to secure supply-chain flexibility by dispersing production sites, including from a business continuity planning perspective, but conditions still require cautious and prompt decisions.」
In addition to the previous concerns over yen depreciation, rising prices and the Russia-Ukraine situation, the company explicitly identifies tariff measures by the U.S. president, interstate conflicts and the growing importance of geopolitical risks, expressing the turmoil in the global economy more strongly. - FY2024-Q2ReframedAnnual report
「During the first half of the fiscal year under review, Japan's economy had to address record yen depreciation and rising prices resulting from the strong U.S. economy, the sharp slowdown in the Chinese economy, the prolonged Russia-Ukraine situation and other factors. The global economy was similarly heavily affected, and uncertain conditions are expected to continue.」
Regarding external-environment risks, the company explicitly identifies the prolonged Russia-Ukraine situation, the sharp slowdown in the Chinese economy, record yen depreciation and rising prices. - FY2024-Q1ReframedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy was in an extremely difficult situation with no clear outlook due to the impact of yen depreciation, the prolonged Russia-Ukraine situation and other factors. The global economy was similarly heavily affected, and uncertain conditions are expected to continue.」
While uncertainty in the external environment and the prolonged Russia-Ukraine situation continue, the impact of yen depreciation is explicitly identified as a factor contributing to difficulties in the domestic economy, replacing the previously cited impact of COVID-19. - FY2023-Q3RestatedAnnual report
「During the first nine months of the fiscal year under review, Japan's economy was in an extremely difficult situation with no clear outlook due to the continuing impact of COVID-19, the prolonged Russia-Ukraine situation and other factors. The global economy was similarly heavily affected, and uncertain conditions are expected to continue.」
The company continues from the previous quarter to describe the difficult and uncertain conditions in domestic and overseas economies caused by COVID-19 and the prolonged Russia-Ukraine situation. - FY2023-Q2RestatedAnnual report
「During the first half of the fiscal year under review, Japan's economy was in an extremely difficult situation with no clear outlook due to the impact of COVID-19, the prolonged Russia-Ukraine situation and other factors. The global economy was similarly heavily affected, and uncertain conditions are expected to continue.」
The company continues from the previous quarter to describe the difficult and uncertain conditions in domestic and overseas economies caused by COVID-19 and the prolonged Russia-Ukraine situation. - FY2023-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy was in an extremely difficult situation with no clear outlook due to the impact of COVID-19, the prolonged Russia-Ukraine situation and other factors. The global economy was similarly heavily affected, and uncertain conditions are expected to continue.」
The company continues from the previous full fiscal year to describe the difficult and uncertain conditions in domestic and overseas economies caused by COVID-19 and the prolonged Russia-Ukraine situation. - FY2022ReframedAnnual report
「During the fiscal year under review, Japan's economy was in an extremely difficult situation with no clear outlook due to the impact of COVID-19, the prolonged Russia-Ukraine situation and other factors. The global economy was similarly heavily affected, and uncertain conditions are expected to continue.」
In addition to COVID-19, the company explicitly identifies the prolonged Russia-Ukraine situation as a source of uncertainty for domestic and overseas economies, broadening the focus of external-environment risks. - FY2022-Q3RestatedAnnual report
「During the first nine months of the fiscal year under review, Japan's economy was in a difficult situation due to the impact of COVID-19. The global economy was similarly heavily affected, and uncertainty about the outlook continues.」
The company continues to describe the impact of COVID-19 on domestic and overseas economies and uncertainty about the outlook for the global economy. - FY2022-Q2RestatedAnnual report
「During the first half of the fiscal year under review, Japan's economy was in a difficult situation due to the impact of COVID-19. The global economy was similarly heavily affected, and as the timing of the pandemic's end cannot be foreseen, uncertainty about the outlook is expected to continue.」
The company continues to describe the impact of COVID-19 on domestic and overseas economies and the uncertainty about the outlook arising from the inability to foresee when the pandemic will end. - FY2022-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy was in a difficult situation due to the impact of COVID-19. The global economy was similarly heavily affected, and as the timing of the pandemic's end cannot be foreseen, uncertain conditions are expected to continue.」
The company continues to describe the impact of COVID-19 on domestic and overseas economies and the uncertainty arising from the inability to foresee when the pandemic will end. - FY2021-Q3RestatedAnnual report
「During the first nine months of the fiscal year under review, Japan's economy was in a difficult situation due to the impact of COVID-19. The global economy was similarly heavily affected, and uncertainty about the outlook continues.」
The impact of COVID-19 on domestic and overseas economies and continued uncertainty about the outlook remain described. - FY2021-Q2RestatedAnnual report
「During the first half of the fiscal year under review, Japan's economy was depressed by the impact of COVID-19 and remained in a difficult situation. The global economy was similarly heavily affected, and uncertainty about the outlook continues.」
The impact of COVID-19 on domestic and overseas economies and continued uncertainty about the outlook remain described. - FY2021-Q1SoftenedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy was in a difficult situation due to the impact of COVID-19. The global economy was similarly heavily affected, and as the timing of the pandemic's end cannot be foreseen, uncertain conditions are expected to continue.」
The company continues to describe the impact of COVID-19 on domestic and overseas economies and the uncertainty arising from the inability to foresee when the pandemic will end. Meanwhile, the current quarter describes conditions as “difficult,” compared with the previous full fiscal year's “extremely difficult” conditions. - FY2020RestatedAnnual report
「Regarding the business environment surrounding the company, Japan's economy is in an extremely difficult situation due to the impact of COVID-19. The global economy has likewise been heavily affected, and as the timing of the pandemic's end cannot be foreseen, uncertain conditions are expected to continue.」
The company reaffirms for the full fiscal year the extremely severe impact of COVID-19 on domestic and overseas economies and the uncertainty arising from the inability to foresee when the pandemic will end. - FY2020-Q3WorsenedAnnual report
「During the first nine months of the fiscal year under review, Japan's economy was in an extremely difficult situation due to the impact of COVID-19. The global economy was similarly heavily affected, and uncertainty about the outlook continues.」
The description of COVID-19's impact on the domestic economy has intensified from the previous quarter's “difficult situation” to an “extremely difficult situation,” while its substantial impact on the global economy and uncertainty about the outlook also continue. - FY2020-Q2WorsenedAnnual report
「During the first half of the fiscal year under review, Japan's economy was significantly depressed by the impact of COVID-19 and remained in a difficult situation. The global economy was similarly heavily affected, and uncertainty about the outlook continues.」
In addition to the previous concerns over the Chinese economy and trade issues, the company explicitly identifies the significant downward pressure exerted on domestic and overseas economies by COVID-19 and its substantial impact on the global economy, indicating that external-environment risks have become more severe. - FY2020-Q1ReframedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy was recovering moderately due to improvements in corporate performance and the employment environment, but weakness centered on exports persisted, requiring attention to future developments. Concerns also remain over the impact of the outlook for the Chinese economy and tensions surrounding trade issues on the global economy and financial markets, and uncertainty about the outlook continues.」
In addition to the longstanding concerns over the Chinese economy and trade issues, weakness in exports and the impact on the global economy and financial markets are explicitly identified, indicating a shift in the focus of external-environment risks. - FY2019-Q3RestatedAnnual report
「Many uncertainties remain in overseas economies, including the impact of the slowdown in the Chinese market and trade issues on the global economy, and conditions requiring cautious judgment continue.」
The slowdown in the Chinese market and the impact of trade issues on the global economy continue to be cited as uncertainties. No significant changes are identified within the scope of ordinary external-environment risks. - FY2019-Q2RestatedAnnual report
「Although the U.S. economy remains firm, conditions requiring cautious judgment continue due to concerns over slowing growth in the Chinese market, U.S.-China trade friction and other factors.」
While recognizing the strength of the U.S. economy, the company continues to cite the slowdown in the Chinese market and concerns over U.S.-China trade friction as external-environment factors requiring cautious judgment. - FY2019-Q1WorsenedAnnual report
「The impact of escalating U.S.-China trade friction on overseas economies and financial markets is a concern, and conditions remain uncertain.」
In addition to previous concerns over U.S. trade policy and downside risks to economic conditions in China and Asian countries, the company explicitly identifies escalating U.S.-China trade friction and its impact on overseas economies and financial markets. - FY2018ReframedAnnual report
「Although concerns arose over U.S. trade policy and downside risks to economic conditions in China and Asian countries, overseas economies remained generally firm, led by the strong U.S. economy.」
The focus of external-environment risks has shifted from the previous concerns over currency markets and economic conditions in emerging Asian economies to U.S. trade policy and downside risks to economic conditions in China and Asian countries. - FY2018-Q3ReframedAnnual report
「Conditions requiring cautious judgment continue due to slowing economic growth in China and emerging Asian economies and concerns over trade friction arising from policy developments by the U.S. government. The products handled by the company are not affected by additional U.S. tariffs.」
Regarding external-environment risks, the company explicitly identifies concerns over trade friction accompanying policy developments by the U.S. government, in addition to slowing growth in China and emerging Asian economies. It also states that the products handled by the company are not affected by additional U.S. tariffs. - FY2018-Q2ReframedAnnual report
「However, unstable currency markets resulting from developments in U.S. economic policy and geopolitical risks in the Middle East and Asia have affected the global economy, and the outlook for economic conditions remains uncertain.」
In addition to the previous concerns over U.S. policy, economic conditions in emerging Asian economies and currency markets, geopolitical risks in the Middle East and Asia are now explicitly identified, changing how external-environment risks are presented. - FY2018-Q1RestatedAnnual report
「Although the economy is recovering moderately due to the recovery in exports and rising share prices, personal consumption remains firm, while conditions requiring cautious judgment continue because of the unstable economies of emerging Asian countries, future policy developments by the U.S. government and other factors.」
While recognizing the moderate recovery of the domestic economy, the company continues to cite the unstable economies of emerging Asian countries and future policy developments by the U.S. government as external-environment factors requiring cautious judgment. - FY2017RestatedAnnual report
「However, unstable conditions overseas and sharp currency fluctuations became matters of concern, and uncertain conditions continued.」
Unstable conditions overseas and sharp currency fluctuations continue to be cited as concerns regarding the external environment. - FY2017-Q3RestatedAnnual report
「During the first nine months of the fiscal year under review, Japan's economy remained on a moderate recovery trend, supported by expanding exports and the full-scale recovery of capital investment. However, uncertainty about the outlook continues due to slowing economic growth in China and emerging Asian economies, future policy developments under the new U.S. administration, currency-market trends and other factors.」
While recognizing the recovery trend in the domestic economy, the company continues to cite slowing growth in China and emerging Asian economies, policy developments under the new U.S. administration and currency-market trends as concerns regarding the external environment. - FY2017-Q2RestatedAnnual report
「During the first half of the fiscal year under review, Japan's economy continued on a moderate recovery trend, with signs of a recovery in the employment environment and personal consumption against a backdrop of improving corporate earnings. However, economic policy uncertainty resulting from the change of administration in the United States and unstable currency markets have affected the global economy, and the outlook for economic conditions remains uncertain.」
While recognizing the recovery of the domestic economy, the company continues to cite uncertainty surrounding economic policy following the change of administration in the United States, unstable currency markets and the outlook for the global economy as concerns regarding the external environment. - FY2017-Q1ReframedAnnual report
「During the first quarter of the fiscal year under review, Japan's economy continued on a moderate recovery trend, supported by improving employment and income conditions resulting from the effects of economic policies implemented by the government and the Bank of Japan, with personal consumption showing steady movement. However, following the U.S. presidential election, sharp currency fluctuations and uncertainty over the outlook for the global economy remain significant, and conditions requiring an extremely cautious approach continue.」
While the assessment of domestic employment, income and personal consumption has shifted to recovery and resilience, the main concerns cited are currency fluctuations following the U.S. presidential election and uncertainty over the global economy, rather than slowing growth in emerging Asian economies or U.S. monetary policy. - FY2016RestatedAnnual report
「Personal consumption remains weak, while concerns over slowing growth in China and other emerging Asian economies and sharp currency fluctuations have contributed to continued uncertainty about the outlook.」
Slowing growth in China and emerging Asian economies and currency fluctuations continue to be cited as factors contributing to uncertainty about the outlook. - FY2016-Q3First statedAnnual report
「Conditions requiring cautious judgment continue, due to concerns over slowing economic growth in China and other emerging Asian economies, as well as the rapid appreciation of the yen driven by developments in U.S. monetary policy and other factors.」
Slowing economic growth and monetary policy developments are described as external-environment factors requiring cautious judgment.