Downward pressure on the economy from concerns over slowing growth in emerging economies and the UK's withdrawal from the EU
First written in FY2017-Q1. 14 of 27 entries say "Restated". Latest entry: FY2025.
BeMap moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
28 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「At the same time, economic uncertainty has intensified due to factors including higher energy and food prices resulting from changes in U.S. trade policy and heightened global tensions, as well as sharp fluctuations in foreign-exchange markets.」
The description of external-environment risks has been reorganized from its previous focus on infectious diseases and the situation in Ukraine to cover U.S. trade policy, global conditions, energy and food prices, and foreign-exchange fluctuations. - FY2024-Q2ReframedAnnual report
「During the six months ended 30 September, Japan's economy recovered gradually as it moved toward emerging from the COVID-19 pandemic and economic activity normalized. However, conditions remained uncertain due to instability overseas, yen depreciation and higher prices, and financial-market trends.」
The description of external-environment risks has been reorganized from individual factors such as COVID-19 and Russia's invasion of Ukraine to unstable overseas conditions, the weak yen and rising prices, and financial-market trends. The normalization of economic activity is mentioned alongside the fact that conditions remain unpredictable. - FY2024-Q1RestatedAnnual report
「During the first quarter, Japan's economy was moving toward a post-COVID environment and living with COVID-19, and the movement of people and economic activity were recovering. However, uncertainty over business conditions intensified due to rising energy and food prices amid growing geopolitical tensions and the rapid depreciation of the yen.」
While referring to the recovery trend in the movement of people and economic activity, continues to describe uncertainty over business conditions due to the global situation, energy and food prices, and yen depreciation. - FY2023-Q3RestatedAnnual report
「During the nine months ended 31 December, Japan's economy gradually shifted toward containing COVID-19 while maintaining economic activity and showed signs of recovery. However, the outlook for Japan's economy remains uncertain due to the prolonged geopolitical risks associated with Russia's invasion of Ukraine, concerns over the supply and rising prices of raw materials and food, and the impact of the rapid depreciation of the yen.」
While economic activity showed signs of recovery, continues to describe uncertainty over the outlook due to geopolitical risks including the invasion of Ukraine, concerns over the supply and rising prices of raw materials and food, and the rapid depreciation of the yen. - FY2023-Q2WorsenedAnnual report
「During the six months ended 30 September, Japan's economy gradually shifted toward containing COVID-19 while maintaining economic activity and showed signs of recovery. However, the outlook for Japan's economy remains uncertain due to the prolonged geopolitical risks associated with Russia's invasion of Ukraine, concerns over the supply and rising prices of raw materials and food, and the impact of the rapid depreciation of the yen.」
While economic activity showed signs of recovery, the prolonged geopolitical risks associated with the invasion of Ukraine, concerns over the supply and rising prices of raw materials and food, and the rapid depreciation of the yen were explicitly identified as external-environment risks. - FY2023-Q1WorsenedAnnual report
「During the three months ended 30 June, economic stagnation and uncertainty over business conditions intensified due to the continuing spread of COVID-19, Russia's invasion of Ukraine and the resulting inflation in energy and food prices, and the rapid depreciation of the yen.」
In addition to the previous uncertainty caused by COVID-19 and other factors, Russia's invasion of Ukraine, inflation in energy and food prices, and the rapid depreciation of the yen are identified as new concerns. - FY2022-Q3RestatedAnnual report
「During the nine months ended 31 December, Japan's economy showed signs of recovery as the severe conditions resulting from COVID-19 gradually eased, but uncertainty over the outlook persisted, with signs of a new variant beginning to spread.」
While the economy showed signs of recovery, uncertainty over the outlook persisted due to signs of a new variant beginning to spread. - FY2022-Q2RestatedAnnual report
「During the second quarter, Japan's economy continued to be affected by the spread of COVID-19 and the state of emergency, as in the previous quarter, making economic stagnation and deterioration in business conditions increasingly evident. In addition, although vaccinations progressed and the number of positive cases began to decline in Japan and many other countries, uncertainty over the outlook persists.」
Although the disclosure refers to progress in vaccinations and a decline in the number of positive cases, it continues to describe economic stagnation due to the spread of COVID-19 and other factors, and uncertainty over the outlook. - FY2022-Q1RestatedAnnual report
「During the first quarter, Japan's economy continued to be affected by the spread of COVID-19 and the state of emergency, as in the previous fiscal year, making economic stagnation and deterioration in business conditions increasingly evident. In addition, although vaccination is progressing in Japan and many other countries, the number of positive cases remains high, and uncertainty over the outlook persists.」
Continues to describe economic stagnation due to the spread of COVID-19 and the state of emergency, as well as uncertainty over the outlook due to the persistently high number of positive cases. - FY2021WorsenedAnnual report
「During the consolidated fiscal year from 1 April 2020 to 31 March 2021, Japan's economy contracted sharply and entered a severe recession as economic activity shrank due to the global COVID-19 pandemic and the issuance of two states of emergency in the Tokyo metropolitan area.」
The disclosure has progressed from describing uncertainty over the outlook to reporting that economic activity contracted sharply and the economy entered a severe recession due to COVID-19 and the state of emergency. - FY2021-Q3RestatedAnnual report
「Although the government continues measures to support an economic recovery, including the Sustainability Subsidy and the Go To campaign, uncertainty over the outlook persists in Japan and many other countries, as the pace of increase in the number of infections has begun rising again.」
While economic recovery measures continue, the pace of increase in infections is again trending upward, and uncertainty over the outlook persists. - FY2021-Q2WorsenedAnnual report
「Although the government continues determined efforts to support an economic recovery, including the Sustainability Subsidy and the Go To campaign, uncertainty over the outlook persists in Japan and many other countries, as the pace of increase in the number of infections has begun rising again.」
While economic recovery measures continue, the pace of increase in infections is again trending upward, and uncertainty over the outlook persists. - FY2021-Q1WorsenedAnnual report
「As the economy stagnated following the consumption tax increase last autumn, the spread of COVID-19 and the impact of the state of emergency made the economic stagnation and deterioration in business conditions increasingly evident.」
In addition to the previous economic downturn and external-environment risks, economic stagnation and deterioration in business conditions resulting from the spread of COVID-19 and the state of emergency have become evident. - FY2020WorsenedAnnual report
「During the consolidated fiscal year from 1 April 2019 to 31 March 2020, corporate earnings and the employment environment improved in the first half, showing signs of a gradual recovery. However, in the second half, amid worsening sentiment associated with a decline in household spending following the consumption tax increase, the global spread of COVID-19 has brought signs of a severe recession.」
The disclosure explicitly identifies signs of a severe recession resulting from the global spread of COVID-19, in addition to the previous economic and geopolitical risks. - FY2020-Q3RestatedAnnual report
「During the nine months ended 31 December, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment, but the outlook for the economy remains uncertain due to the impact of a succession of natural disasters in Japan, US-China trade friction, financial-market trends, a decline in the working population resulting from the declining birth rate and aging population, and geopolitical risks.」
Continues to describe uncertainty over the outlook due to domestic natural disasters, US-China trade friction, financial markets, a decline in the working population resulting from the declining birth rate and aging population, and geopolitical risks. - FY2020-Q2RestatedAnnual report
「During the six months ended 30 September, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment, but concerns remain over an economic downturn in emerging markets, US-China friction and geopolitical risks including the Middle East and East Asia, leaving the outlook uncertain.」
Continues to describe uncertainty over the outlook due to emerging-market economic conditions, US-China friction and geopolitical risks including the Middle East and East Asia. - FY2020-Q1RestatedAnnual report
「During the first quarter, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment, but concerns remain over an economic downturn in emerging markets, US-China friction and geopolitical risks including East Asia, leaving the outlook uncertain.」
Continues to describe uncertainty over the outlook due to an economic downturn in emerging markets, US-China friction and geopolitical risks including East Asia. - FY2019RestatedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment despite the impact of successive natural disasters. Meanwhile, concerns remain over an economic downturn in emerging markets, US-China trade friction, geopolitical risks including the Korean Peninsula and a serious labor shortage, leaving the outlook uncertain.」
Continues to describe uncertainty over the outlook due to natural disasters, emerging-market economic conditions, US-China trade friction, geopolitical risks and labor shortages. - FY2019-Q3RestatedAnnual report
「During the nine months ended 31 December, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment, but the outlook for the economy remains uncertain due to the impact of a succession of natural disasters in Japan, US-China trade friction, financial-market trends, a decline in the working population resulting from the declining birth rate and aging population, and geopolitical risks.」
Continues to describe uncertainty over the outlook due to domestic natural disasters, US-China trade friction, financial markets, a declining working population and geopolitical risks. - FY2019-Q2ReframedAnnual report
「During the six months ended 30 September, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment, but the outlook for the economy remains uncertain due to the impact of a succession of natural disasters in Japan, US-China trade friction, financial-market trends and a decline in the working population resulting from the declining birth rate.」
The description of external-environment risks has shifted from emerging-market economic conditions and the UK's exit from the EU to domestic natural disasters, US-China trade friction, financial-market trends and a decline in the working population resulting from the declining birth rate, changing the composition of the risk factors. - FY2018RestatedAnnual report
「Concerns remain over an economic downturn in emerging markets, uncertainty surrounding the policies of the US administration and geopolitical risks including the Korean Peninsula, leaving the outlook uncertain.」
Continues to describe the uncertain outlook resulting from emerging-market economic conditions, the policies of the US administration and geopolitical risks including the Korean Peninsula. - FY2018-Q3RestatedAnnual report
「During the nine months ended 31 December, Japan's economy remained on a gradual recovery trend as the employment and income environment improved against the backdrop of measures by the government and the Bank of Japan. However, uncertainty in the global economy, including an economic downturn in emerging markets, particularly China, and geopolitical risks such as those involving North Korea, continues to leave the outlook uncertain.」
Continues to describe uncertainty in the global economy and an uncertain outlook due to an economic downturn in emerging markets, particularly China, and geopolitical risks including North Korea. - FY2018-Q2ReframedAnnual report
「During the six months ended 30 September, Japan's economy showed signs of a gradual recovery against the backdrop of measures by the government and the Bank of Japan, but concerns remain over an economic downturn in emerging markets, particularly China, and geopolitical risks including North Korea, leaving the outlook uncertain.」
The specific external-environment risks described have shifted from the previous concerns over the UK's exit from the EU and uncertainty surrounding the new US administration to an economic downturn in emerging markets, particularly China, and geopolitical risks including North Korea. - FY2017WorsenedAnnual report
「During the consolidated fiscal year from 1 April 2016 to 31 March 2017, Japan's economy showed signs of a gradual recovery, with improvements in corporate earnings and the employment environment, but concerns remain over an economic downturn in emerging markets, uncertainty surrounding the policies of the new US administration and geopolitical risks, including the North Korean nuclear and missile issue, leaving the outlook uncertain.」
Geopolitical risks, including the North Korean nuclear and missile issue, are explicitly identified in addition to the previous concerns over emerging-market economies and the new US administration. - FY2017-Q3WorsenedAnnual report
「During the third quarter, Japan's economy showed signs of a gradual recovery against the backdrop of measures by the government and the Bank of Japan, but concerns remain over an economic downturn in emerging markets, particularly China, the UK's exit from the EU and uncertainty surrounding the policies of the new US administration, leaving the outlook uncertain.」
Uncertainty surrounding the policies of the new US administration has been added as a concern, in addition to the previous concerns over an economic downturn in emerging markets and the UK's exit from the EU. - FY2017-Q2RestatedAnnual report
「During the second quarter, Japan's economy showed signs of a gradual recovery against the backdrop of measures by the government and the Bank of Japan, but concerns remain over the impact of an economic downturn in emerging markets, particularly China, and the UK's exit from the EU, and the outlook remains uncertain.」
Continues to describe the uncertain outlook resulting from an economic downturn in emerging markets and the UK's exit from the EU as an external-environment risk. - FY2017-Q1First statedAnnual report
「The economy is being weighed down by factors including concerns over an economic slowdown in emerging markets, particularly China, and yen appreciation resulting from the UK's exit from the EU, and the outlook remains uncertain.」
Concerns over an economic slowdown in emerging markets and yen appreciation associated with the UK's exit from the EU are weighing on the economy, and external-environment risks involving an uncertain outlook are described for the first time.