Uncertainty from conditions in China and Europe, yen appreciation and share price declines
First written in FY2017-Q1. 13 of 28 entries say "Restated". Latest entry: FY2026-H1.
J-Stream 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 2020: 146 of 167 companies on the "Worse" side.
37 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period, Japan's economy remained on a gradual recovery track, but uncertainty persisted as globally elevated interest rates, the slowdown in the Chinese economy and geopolitical risks, including the situation in Ukraine, affected corporate activity and consumer sentiment.」
While indicating an ongoing economic recovery, it identifies globally elevated interest rates, the slowdown in the Chinese economy and geopolitical risks, including the situation in Ukraine, as factors contributing to uncertainty. - FY2025-H1ReframedAnnual report
「During the interim consolidated accounting period, Japan's economy showed signs of recovery, but remained subject to uncertainty, including the prolonged situation in Ukraine, concerns about the outlook for the Chinese economy, the outcome of the US presidential election and unstable foreign exchange markets.」
While indicating signs of economic recovery, the disclosure identifies the prolonged situation in Ukraine, the Chinese economy, the US presidential election and unstable foreign exchange markets as sources of uncertainty. - FY2024-Q3ReframedAnnual report
「During the third quarter cumulative consolidated period, the impact of COVID-19 on Japan's economy had largely normalized following the shift to Category 5 in May. However, higher prices became more pronounced amid deteriorating political conditions globally, rapid yen depreciation and soaring resource prices, and uncertainty surrounding private consumption and corporate earnings remained high.」
While stating that the impact of COVID-19 normalized following the shift to Category 5, the disclosure changes its assessment to one in which uncertainty continues due to deteriorating political conditions globally, rapid yen depreciation, soaring resource prices and higher prices. - FY2024-Q2ReframedAnnual report
「During the second quarter cumulative consolidated period, higher prices became more pronounced due to deteriorating political conditions globally, soaring resource prices and rapid yen depreciation associated with monetary tightening in the United States. Although economic conditions continued to recover, uncertainty surrounding private consumption and corporate earnings remained high. The number of COVID-19 cases increased during the summer, but its impact on social activity was limited.」
The disclosure reorganizes the previous concerns about soaring resource prices, yen depreciation and higher prices as part of an external environment that also includes deteriorating political conditions globally and monetary tightening, while stating that the impact of the infectious disease on social activity was limited. - FY2024-Q1ReframedAnnual report
「During the first quarter cumulative consolidated period, the easing of COVID-19-related restrictions had a positive effect on private consumption and inbound demand. However, uncertainty remained high due to concerns about higher prices arising from unstable conditions in Europe, soaring resource prices and yen depreciation.」
While indicating the positive effects of easing infectious-disease-related restrictions on private consumption and inbound demand, the disclosure identifies conditions in Europe, resource prices, yen depreciation and higher prices as the main sources of uncertainty. - FY2023-Q3ReframedAnnual report
「During the third quarter cumulative consolidated period, although infections expanded again in the seventh and eighth waves of COVID-19, demand for travel such as commuting and school travel recovered and social life continued to normalize. Meanwhile, concerns about stagflation became more pronounced due to soaring resource prices following the deterioration in the situation in Ukraine and yen depreciation, and uncertainty surrounding private consumption and corporate earnings remained high.」
While presenting both renewed infections and the normalization of social life, the disclosure reframes external uncertainty as concerns about stagflation arising from the situation in Ukraine, soaring resource prices and yen depreciation. - FY2023-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, concerns about higher prices became more pronounced due to soaring resource prices following the deterioration in the situation in Ukraine and rapid yen depreciation associated with monetary tightening in the United States. Uncertainty surrounding private consumption and corporate earnings was therefore high.」
The disclosure continues to recognize high uncertainty surrounding private consumption and corporate earnings, citing soaring resource prices due to the situation in Ukraine, yen depreciation associated with monetary tightening in the United States, and concerns about higher prices. - FY2023-Q1WorsenedAnnual report
「During the first quarter cumulative consolidated period, while the COVID-19 response had settled down, concerns about higher prices became more pronounced due to soaring resource prices following the deterioration in the situation in Ukraine and yen depreciation associated with monetary tightening in the United States. Uncertainty surrounding private consumption and corporate earnings was therefore high.」
While noting that the COVID-19 response had settled down, the disclosure identifies soaring resource prices due to the situation in Ukraine, yen depreciation associated with monetary tightening in the United States, and concerns about higher prices as new sources of uncertainty. - FY2022WorsenedAnnual report
「Toward the end of the fiscal year, disruptions in the supply-demand balance for various resources, including crude oil, resulting from the conflict between Russia and Ukraine became a concern. In particular, semiconductor shortages and higher crude oil prices affected industries including IT.」
In addition to existing factors such as the infectious disease and US-China tensions, the disclosure identifies the Russia-Ukraine conflict, semiconductor shortages and higher crude oil prices as new sources of external uncertainty. - FY2022-Q3RestatedAnnual report
「During the third quarter cumulative consolidated period, Japan's economy experienced economic stagnation as measures implemented in response to the prolonged COVID-19 pandemic continued, but infections improved to the point that the state of emergency was lifted in early October, helped by the smooth progress of vaccinations. Despite concerns about the spread of new variants, conditions came to support expectations of a gradual recovery, partly because policies placing greater emphasis on economic activity were being adopted, particularly in Europe and the United States.」
The disclosure presents both stagnation in economic activity and concerns about variants, and expectations of a gradual recovery against a backdrop of vaccinations and the lifting of restrictions. - FY2022-Q2ReframedAnnual report
「During the second quarter cumulative consolidated period, for most of the period many regions were subject to states of emergency and priority preventive measures in response to COVID-19, resulting in fatigue from calls for restraint in social activity. However, the Tokyo Olympics and Paralympics were held without spectators, and the success of the Japanese team provided positive news. In addition, vaccination progressed smoothly and infections improved to the point that the state of emergency was lifted in early October. As a result, conditions came to support expectations of a gradual recovery, although downside risks from a renewed spread of infections remained.」
The disclosure indicates fatigue from calls for restraint under states of emergency and other measures, as well as the risk of renewed infections, while revising its assessment toward expectations of a gradual recovery against a backdrop of vaccination and improved infection conditions. - FY2021RestatedAnnual report
「During the consolidated fiscal year, uncertainty remained high due to restrictions on economic activity implemented to address the COVID-19 pandemic and the resulting social anxiety, political instability in the United States and US-China tensions.」
The disclosure continues to recognize high uncertainty due to restrictions on economic activity implemented in response to the infectious disease, social anxiety, political instability in the United States and US-China tensions. - FY2021-Q3ReframedAnnual report
「During the third quarter cumulative consolidated period, economic activity picked up as restrictions implemented to address the COVID-19 pandemic were eased. However, uncertainty remained high due to concerns about a third wave of infections, US-China trade friction and political instability in the United States.」
While reporting a pickup following the easing of restrictions on economic activity, the disclosure indicates high uncertainty due to a third wave of infections, US-China trade friction and political instability in the United States, providing greater specificity to the previously stated difficult environment. - FY2021-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, Japan's economy remained in a difficult situation as US-China trade friction and the prolonged restrictions on and calls for restraint in economic activity implemented in response to the spread of COVID-19 continued. Although some areas showed signs of recovery in private consumption, the group expects uncertainty to remain high.」
The disclosure continues to identify US-China trade friction and the prolonged restrictions on economic activity implemented in response to the infectious disease as factors contributing to difficult conditions and high uncertainty. - FY2021-Q1RestatedAnnual report
「During the first quarter cumulative consolidated period, Japan's economy was in a difficult situation as the spread of COVID-19 led to restrictions on and calls for restraint in economic activity, causing rapid declines in private consumption and corporate earnings and worsening employment conditions.」
The disclosure continues to characterize the economic environment as difficult, citing restrictions on economic activity due to COVID-19, declines in private consumption and corporate earnings, and worsening employment conditions. - FY2020WorsenedAnnual report
「In February 2020, concerns about the future increased as the spread of COVID-19 led to calls for restraint and restrictions on economic activity.」
In addition to existing uncertainty from US-China trade friction and the consumption tax rate increase, the disclosure specifically identifies restrictions on economic activity due to the spread of the infectious disease and concerns about the future. - FY2020-Q3RestatedAnnual report
「During the third quarter cumulative consolidated period, Japan's domestic consumption remained generally solid despite uncertainty, including concerns over factors such as US-China trade friction and the consumption tax rate increase.」
The disclosure continues to identify US-China trade friction and the consumption tax rate increase as sources of uncertainty while describing domestic consumption as solid. - FY2020-Q2ReframedAnnual report
「During the second quarter cumulative consolidated period, Japan's domestic consumption remained generally solid despite uncertainty, including concerns over factors such as US-China trade friction and the impact of the consumption tax rate increase.」
In addition to existing uncertainty from trade issues and international conditions, the disclosure specifically cites US-China trade friction and the impact of the consumption tax rate increase as sources of concern. - FY2020-Q1RestatedAnnual report
「During the first quarter cumulative consolidated period, Japan's domestic consumption remained generally solid despite concerns about the outlook for the global economy arising from trade issues.」
The disclosure presents an assessment of the external environment that cites concerns about the outlook for the global economy due to trade issues while describing domestic consumption as solid. - FY2019RestatedAnnual report
「During the consolidated fiscal year, Japan's domestic consumption remained generally solid despite uncertainty arising from unstable international conditions.」
The disclosure presents an assessment of the external environment that cites uncertainty arising from international conditions while describing domestic consumption as solid. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the nine-month period ended December 31, and there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there were no new business or other risks and no material changes to previously disclosed risks. - FY2019-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there were no new business or other risks and no material changes to previously disclosed risks. - FY2018-Q3RestatedAnnual report
「During the third quarter cumulative consolidated period, Japan's economy continued to recover gradually. Despite increased political uncertainty in the Far East and domestic political turmoil, share prices rose and the economy overall remained on an expansionary trend.」
The disclosure cites political uncertainty in the Far East and domestic political turmoil, while also reporting rising share prices and an expanding economy, and states that there were no material changes in risk. - FY2018-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, Japan's economy showed signs of expanding domestic demand as private consumption gradually recovered. Despite political instability in the Far East and domestic political turmoil, share prices rose and the economy overall remained on an expansionary trend.」
The disclosure cites political instability in the Far East and domestic political turmoil, but also reports rising share prices and an expanding economy, and states that there were no material changes in business and other risks. - FY2018-Q1RestatedAnnual report
「Overseas, uncertainty increased due to slower growth in emerging-market economies, the United Kingdom's EU withdrawal issue and US policy developments.」
The disclosure continues to identify slower growth in emerging-market economies, the United Kingdom's EU withdrawal and US policy developments as sources of overseas uncertainty. - FY2017-Q3WorsenedAnnual report
「During the third quarter cumulative consolidated period, uncertainty surrounding external factors increased, including the outlook for the United Kingdom's withdrawal from the EU, the impact of the US presidential election on politics and the economy, and developments in China.」
The disclosure cites the United Kingdom's withdrawal from the EU, the US presidential election and developments in China as external factors, and reports increased uncertainty. - FY2017-Q2WorsenedAnnual report
「During the second quarter cumulative consolidated period, Japan's economy was affected by continued yen appreciation amid growing concerns about the outlook for the Chinese economy and rising political uncertainty in Europe and the United States.」
The disclosure specifically identifies political uncertainty in the United States in addition to Europe, and states that rising uncertainty and continued yen appreciation affected the economy. - FY2017-Q1First statedAnnual report
「Uncertainty increased as concerns about the outlook for the Chinese economy and political turmoil in Europe contributed to a trend toward yen appreciation and lower share prices.」
The disclosure identifies the Chinese economy, European politics, yen appreciation and share price declines as sources of uncertainty in the economic environment.