Concerns over rising energy, resource and grain prices associated with Russia’s military invasion of Ukraine and the resulting economic sanctions
First written in FY2022-Q2. 2 of 5 entries say "Worsened", first in FY2022-Q3. Latest entry: FY2025.
The whole theme swung hardest in 2025: 45 of 80 companies on the "Worse" side.
3 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual report
「Meanwhile, economic risks continue to rise, including higher prices resulting from heightened geopolitical risk, U.S. interest-rate and tariff policies, and China's continuing economic slowdown, leaving the economic outlook uncertain.」
The individual risks of the situation involving Russia and Ukraine, economic sanctions, and rising energy and resource prices are no longer described; the discussion has shifted to economic risks involving geopolitics, interest rates, tariffs and the Chinese economy. - FY2023-Q1WorsenedAnnual report
「Meanwhile, economic risks continue to rise, including the impact of higher prices resulting from heightened geopolitical risk and higher U.S. interest rates, as well as yen depreciation against the backdrop of global monetary tightening,」
In addition to the previous concerns over price increases associated with geopolitical conditions, it identifies higher U.S. interest rates, global monetary tightening and yen depreciation as related external-environment factors. - FY2022MitigatedAnnual report
「At present, the impact of the situation involving Russia and Ukraine on our Group is limited. We have prepared our accounting estimates on the assumption that the impact on our Group will remain limited, but if economic activity stagnates due to a prolonged situation involving Russia and Ukraine or other factors, this could affect our performance, including by reducing demand for the services we provide.」
Regarding the external-environment risk described through the previous quarter, it states that the impact on the business is currently limited. However, the risk of a prolonged situation remains. - FY2022-Q3WorsenedAnnual report
「During the 9-month period ended the third quarter of the current fiscal year, the outlook for the Japanese economy remained uncertain over the medium to long term amid continuing effects from the spread of COVID-19 and fluctuations in the global political and economic environment, including supply-chain disruptions and soaring crude oil prices resulting from the situation between Russia and Ukraine.」
In addition to the previous concerns over rising energy, resource and grain prices, it specifically describes supply chain disruptions and surging crude oil prices this time, broadening the uncertainty surrounding the external environment. - FY2022-Q2First statedAnnual report
「Concerns over rising energy, resource and grain prices, originating from the economic sanctions imposed by major Western countries in response to Russia's military invasion of Ukraine, remain strong, and the situation continues to be uncertain.」
It identifies concerns over rising energy, resource and grain prices against the backdrop of Russia's military invasion of Ukraine and the resulting economic sanctions as a new business-environment risk.