Concerns over the outlook for the global economy, including geopolitical and financial conditions
First written in FY2017-Q2. 13 of 32 entries say "Restated". Latest entry: 2026-08-10.
Matsumoto Yushi-Seiyaku 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: 160 of 184 companies on the "Worse" side.
56 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「During the consolidated fiscal year, Japan’s economy was on a gradual recovery path against a backdrop of improving employment and income conditions. However, uncertainty about the outlook continued amid persistent price increases, developments in US policies including trade policy, and volatility in financial and capital markets.」
Although the domestic economy is showing signs of a gradual recovery, the company continues to report uncertainty about the outlook because of rising prices, US trade policy and volatility in financial and capital markets. - 2026-05-15RestatedEarnings
「At the same time, the outlook remains uncertain due to continued inflation, downside risks to the economy stemming from the impact of U.S. trade policy, higher raw material and energy prices resulting from heightened geopolitical risks in the Middle East, and volatility in the financial and capital markets.」
The company continues to identify inflation, U.S. trade policy, the situation in the Middle East, raw material and energy prices, and volatility in the financial and capital markets as factors contributing to an uncertain outlook. - FY2026-H1WorsenedAnnual report
「However, corporate earnings, particularly in the automotive industry, have shown signs of stalling because of the impact of US trade policy. Uncertainty about future policy developments creates downside risks to the economy, while geopolitical risks continue because of the prolonged situations in Ukraine and the Middle East, alongside fluctuations in foreign-exchange rates and rising raw material prices. As a result, uncertainty about the outlook remains.」
US trade policy is affecting corporate earnings, particularly in the automotive industry, while downside economic risks, prolonged situations in Ukraine and the Middle East, and fluctuations in exchange rates and raw material prices are occurring simultaneously. Concerns about the outlook for the global economy are spreading. - FY2025Domestic recovery alongside uncertainty over US policy and financial marketsAnnual report
「During the consolidated fiscal year, Japan’s economy was on a gradual recovery path against a backdrop of improving employment and income conditions. However, uncertainty about the outlook continued amid persistent price increases, developments in US policies including trade policy, and volatility in financial and capital markets.」
Although the domestic economy is showing signs of a gradual recovery, uncertainty about the outlook continues because of rising prices, US trade policy and volatility in financial and capital markets. quantified is false and materialized is true thereafter. - FY2025-H1Domestic recovery alongside uncertainty over exchange rates, overseas economies and financial marketsAnnual report
「During the interim consolidated accounting period, Japan’s economy was on a gradual recovery path, with employment and income conditions showing signs of improvement. However, uncertainty about the outlook continued amid sharp exchange-rate fluctuations, downside risks to overseas economies, rising prices and the impact of volatility in financial and capital markets.」
Although employment and income conditions are improving and the domestic economy is recovering gradually, sharp exchange-rate fluctuations, a downturn in overseas economies, rising prices and volatility in financial and capital markets are cited as sources of uncertainty. - FY2024-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period, Japan's economy remained on a moderate recovery trend as the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5 eased restrictions on activities, leading to more active consumption and a sharp recovery in inbound demand. However, the outlook remained difficult to assess because of yen depreciation caused by the impact of monetary tightening amid global inflation, higher raw-material prices and the prolongation of heightened geopolitical risks.」
Although the domestic economy is showing signs of recovery, the outlook for the global economy and business conditions remains difficult to assess amid monetary tightening, yen depreciation, soaring raw material prices and prolonged geopolitical risks. - FY2024-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period, Japan's economy remained on a moderate recovery trend as the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5 eased restrictions on activities, leading to more active consumption and a sharp recovery in inbound demand. However, the outlook remained difficult to assess because of yen depreciation caused by the impact of monetary tightening amid global inflation, higher raw-material prices and the prolongation of heightened geopolitical risks.」
Although the domestic economy remained on a recovery trend, difficulty in assessing the outlook continued because of monetary tightening, yen depreciation, higher raw-material prices and prolonged geopolitical risks. - FY2024-Q1RestatedAnnual report
「Meanwhile, the environment surrounding the Japanese economy remains uncertain because of the continued depreciation of the yen resulting from the impact of monetary tightening accompanying global inflation, soaring raw material prices and the prolonged geopolitical risks brought to the fore by Russia's invasion of Ukraine.」
The description continues to identify global inflation, monetary tightening, yen depreciation, higher raw-material prices and prolonged geopolitical risks associated with the invasion of Ukraine as sources of uncertainty. - FY2023-Q3WorsenedAnnual report
「During the third quarter of the consolidated cumulative period, consumption and investment expanded as governments made progress in balancing COVID-19 prevention measures with economic activity. However, the economy was cooling because semiconductor shortages reduced automotive production, raw-material prices rose sharply, prices increased substantially and countries raised interest rates in response. In addition, there was no sign that the invasion of Ukraine by the Russian Federation was nearing an end.」
Although consumption and investment expanded, semiconductor shortages, reduced automotive production, higher raw-material prices, rising prices, economic cooling caused by interest-rate hikes in various countries and the continuing invasion of Ukraine were identified, intensifying concerns about the outlook for the global economy. - FY2023-Q2Coexistence of expanding economic activity and supply and geopolitical concernsAnnual report
「During the cumulative second quarter under review, consumption and investment expanded as governments made progress in balancing measures to prevent COVID-19 with economic activity. However, the global economy remained unstable due to automobile production cuts caused by semiconductor shortages, soaring raw material prices, and the prolonged invasion of the Republic of Ukraine by the Russian Federation.」
Although consumption and investment were expanding, instability in the global economy continued because of semiconductor shortages, automotive production cuts, higher raw-material prices and the prolonged invasion of Ukraine. - FY2023-Q1RestatedAnnual report
「The global situation remained unstable, with prolonged military aggression by the Russian Federation against Ukraine, in addition to production cuts by automakers due to the resurgence of infectious diseases and the global semiconductor shortage, as well as continued surging raw material prices and procurement concerns.」
The description continues to cite the instability of the global situation, including the prolonged military invasion of Ukraine, in addition to the pandemic, semiconductor shortages and raw-material price and procurement issues. - FY2022WorsenedAnnual report
「The outlook for the global economy remains uncertain because of the renewed spread of COVID-19, Russia's invasion of Ukraine and monetary tightening in the United States.」
In addition to the previous pandemic, trade friction and supply constraints, Russia's invasion of Ukraine and monetary tightening in the United States have been newly identified as sources of uncertainty for the global economy. - FY2022-Q3Coexistence of recovery and supply constraints and production restrictions in ChinaAnnual report
「Overseas, demand is recovering as economic activity gradually resumes following COVID-19 restrictions. However, uncertainty about the outlook remains high due to disruptions in logistics, particularly maritime transport; difficulties in procuring raw materials caused by price increases and insufficient supply in response to stronger demand; and production restrictions at customers in China due to concerns over energy and environmental issues.」
The recovery in overseas demand coexists with uncertainty about the outlook caused by logistics disruptions, difficulties in procuring raw materials and production restrictions imposed on customers in China. - FY2022-Q2Coexistence of recovery and higher raw-material costs and trade frictionAnnual report
「In the global economy, economic recovery was seen in the United States and Europe, where COVID-19 vaccination programs were ahead of Japan, while shortages of raw materials, the impact of surging procurement prices, and continued trade friction between the United States and China persisted.」
Although the U.S. and European economies were recovering, shortages of raw materials, higher procurement prices and continuing U.S.-China trade friction meant that recovery coexisted with concerns over the outlook. - FY2022-Q1Coexistence of recovery and geopolitical tensions and pandemic-related uncertaintyAnnual report
「The United States and Europe, where COVID-19 vaccinations have progressed further than in Japan, were seeing economic recoveries, while tensions between the United States and China were deepening.」
The description states that the U.S. and European economies were recovering against the backdrop of vaccinations, while deepening U.S.-China tensions represented a new source of uncertainty. - FY2021Coexistence of vaccine hopes and uncertainty caused by variantsAnnual report
「The outlook for the global economy remains uncertain because of the renewed spread of COVID-19. Although an economic recovery is expected from the effects of vaccination, Japan is also expected to be forced to restrict economic activity to some extent as infections continue to spread, raising concerns that the economic environment, which had been recovering, will stagnate or deteriorate.」
Although a recovery supported by vaccination is anticipated, concerns about restrictions on economic activity, stagnation and deterioration have continued against the backdrop of a renewed spread of infections and new variants. - FY2021-Q3WorsenedAnnual report
「During the third quarter of the consolidated cumulative period, economic activity stagnated because prolonged U.S.-China trade friction was accompanied by a renewed spread of COVID-19 and the impact of travel restrictions and lockdowns implemented by countries in response.」
In addition to prolonged U.S.-China trade friction, the renewed spread of COVID-19, travel restrictions and lockdowns have caused continued stagnation in the global economy. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the consolidated cumulative period, the global economy was in an extremely difficult condition in many countries and regions because of the impact of COVID-19.」
In addition to the uncertainty caused by trade friction and the slowdown in the Chinese economy, the description states that COVID-19 left economies in many countries and regions in an extremely difficult condition. - FY2020-Q3RestatedAnnual report
「In the global economy, uncertainty about the outlook continues because of prolonged U.S.-China trade friction and a slowdown in the Chinese economy.」
The description states that uncertainty about the outlook for the global economy continues against the backdrop of prolonged U.S.-China trade friction and a slowdown in the Chinese economy. - FY2020-Q2RestatedAnnual report
「In the global economy, uncertainty about the outlook continues because of prolonged U.S.-China trade friction and a slowdown in the Chinese economy.」
The description states that uncertainty about the outlook for the global economy continues against the backdrop of prolonged U.S.-China trade friction and a slowdown in the Chinese economy. - FY2020-Q1WorsenedAnnual report
「In the global economy, uncertainty about the outlook has increased further because of prolonged U.S.-China trade friction, a slowdown in the Chinese economy and heightened tensions in the Middle East.」
The description states that uncertainty about the outlook for the global economy has increased further against the backdrop of prolonged U.S.-China trade friction, a slowdown in the Chinese economy and heightened tensions in the Middle East. - FY2019RestatedAnnual report
「Meanwhile, uncertainty about the outlook for the global economy continues because of the impact of U.S.-China trade friction and issues surrounding negotiations over the UK's withdrawal from the EU.」
The description continues to cite uncertainty about the outlook for the global economy against the backdrop of U.S.-China trade friction and negotiations over the UK's withdrawal from the EU. - FY2019-Q3RestatedAnnual report
「However, uncertainty about the outlook continues because of intensifying U.S.-China trade friction and the impact of political and economic conditions overseas.」
The description continues to cite uncertainty about the outlook for the global economy caused by intensifying U.S.-China trade friction and overseas political and economic conditions. - FY2019-Q2WorsenedAnnual report
「Meanwhile, trade friction has intensified because of the United States' protectionist trade policies, increasing uncertainty about the outlook for the global economy.」
The description specifies intensified trade friction caused by the United States' protectionist trade policies and rising uncertainty about the outlook for the global economy. - FY2019-Q1WorsenedAnnual report
「During the first quarter of the consolidated cumulative period, concerns over an economic slowdown in China and Europe were accompanied by political turmoil in the United States and Europe, an intensification of U.S.-China trade friction and a further rise in crude oil prices, creating risks to the global economy.」
Concerns over an economic slowdown in China and Europe, political turmoil in the United States and Europe, an intensification of U.S.-China trade friction and rising crude oil prices have been identified as new sources of uncertainty, strengthening the risk of a global economic slowdown. - FY2018-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period, the global economy continued on a moderate recovery trend despite uncertainties including heightened tensions surrounding North Korea, U.S. political developments and concerns over a sharp slowdown in the Chinese economy.」
The global economy has maintained a moderate recovery trend, while developments surrounding North Korea, U.S. political developments and concerns over a sharp slowdown in the Chinese economy continue to be described as sources of uncertainty. - FY2018-Q2WorsenedAnnual report
「During the second quarter of the consolidated cumulative period, the global economy continued on a moderate recovery trend despite uncertainties including heightened tensions surrounding North Korea, U.S. political developments and concerns over a sharp slowdown in the Chinese economy.」
The global economy has maintained its recovery trend, although developments surrounding North Korea, U.S. political developments and concerns over a sharp slowdown in the Chinese economy have been identified as new sources of uncertainty. - FY2018-Q1MitigatedAnnual report
「During the first quarter of the consolidated cumulative period, the global economy expanded in the United States despite concerns over the new administration's policy management, while Europe continued on a moderate recovery trend despite the issue of the UK's withdrawal from the EU. In China, the shift in economic policy toward stable growth was progressing, and emerging-market economies were also recovering.」
Although concerns over U.S. policy management and the UK's withdrawal from the EU have continued, the global economy, including Europe, China and emerging-market economies, has been described as recovering. - FY2017-Q3WorsenedAnnual report
「In the global economy, the U.S. economy was recovering, but uncertainty about the outlook intensified because of concerns over a slowdown in China and emerging-market economies, the UK's withdrawal from the EU and rising protectionism following the inauguration of the new U.S. president.」
In addition to the slowdown in China and emerging-market economies, the description newly specifies the UK's withdrawal from the EU and concerns over U.S. protectionism, stating that uncertainty about the outlook for the global economy has intensified. - FY2017-Q2First statedAnnual report
「Overseas, concerns about the outlook for the global economy have intensified due to turmoil in the Middle East, a slowdown in the Chinese economy and further interest-rate increases in the United States.」
The company newly cited the situation in the Middle East, the slowdown in China and further U.S. rate hikes as concerns for the global economic outlook.