Economic Downturn Risk from Emerging-Market Conditions, Oil Prices and Foreign-Exchange Volatility
First written in FY2017-Q1. 16 of 40 entries say "Restated". Latest entry: FY2027-H1.
Tri Chemical Laboratories moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
14 other companies' latest entry also says "Other".
- FY2027-H1Economic Recovery Coexisting with Foreign-Exchange and Middle East Geopolitical RisksAnnual report
「During the interim consolidated accounting period, Japan's economy showed signs of a gradual recovery, supported by improvements in employment and income conditions and increased inbound demand. However, the outlook remained uncertain due to the effects of exchange-rate fluctuations and heightened geopolitical risks, including the situation in the Middle East.」
The note describes an economic recovery supported by improvements in employment and income conditions and inbound demand, while citing continued uncertainty over the outlook due to exchange-rate fluctuations and geopolitical risks, including the situation in the Middle East. - FY2026Economic recovery trend coexisting with trade policy and geopolitical risksAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery trend, supported by the spread of wage increases and government measures to address higher prices. However, the outlook remained uncertain due to the uncertainty surrounding import costs arising from exchange-rate fluctuations, developments in U.S. trade policy and China-related regulations, and geopolitical risks.」
The note describes a gradual economic recovery supported by wage increases and measures to address higher prices, while continuing to cite uncertainty over the outlook arising from exchange-rate fluctuations, U.S. trade policy and China-related regulations, and geopolitical risks. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, Japan's economy showed signs of a gradual recovery, supported by continued wage increases and energy-price subsidy policies. However, the outlook remained uncertain due to sluggish personal consumption amid rising prices, U.S. tariff policy and surging crude oil prices.」
The note describes signs of an economic recovery while identifying sluggish personal consumption, U.S. tariff policy and surging crude oil prices as new sources of uncertainty. - FY2025Economic recovery alongside geopolitical, energy and exchange-rate risksAnnual report
「During the fiscal year, the economy showed signs of a gradual recovery due to the recovery in inbound demand, increased capital investment and higher wages. However, uncertainty about the outlook continued due to the impact of heightened geopolitical risks, higher energy prices and sharp exchange-rate fluctuations.」
While the economy showed signs of a gradual recovery, the disclosure continues to cite geopolitical risks, higher energy prices and sharp exchange-rate fluctuations as sources of uncertainty about the outlook. - FY2025-H1Sluggish personal consumption due to yen depreciation and higher prices alongside the impact of rising interest ratesAnnual report
「During the interim consolidated period, economic activity showed signs of recovery due to increased corporate exports resulting from yen depreciation and increased inbound demand. However, real wages declined due to the impact of yen depreciation and higher prices, and personal consumption remained sluggish. In addition, uncertainty about the outlook continued due to the impact of global inflation, particularly higher energy prices and the effects of interest-rate increases.」
While indicating a recovery in economic activity through exports and inbound demand supported by yen depreciation, the disclosure cites declining real wages, sluggish personal consumption, higher energy prices and the impact of interest-rate increases as sources of uncertainty. - FY2025-Q1Economic recovery alongside geopolitical risks, inflation and yen depreciationAnnual report
「During the cumulative first-quarter period, the economy showed signs of a gradual recovery due to increased capital investment and the recovery in inbound demand. However, uncertainty about the outlook continued due to the impact of yen depreciation resulting from heightened geopolitical risks and inflation, particularly in Europe and the United States.」
While indicating a gradual economic recovery driven by capital investment and inbound demand, the disclosure also cites geopolitical risks, inflation in Europe and the United States, and yen depreciation as sources of uncertainty about the outlook. - FY2024Normalization of economic activity alongside geopolitical, resource-price and exchange-rate risksAnnual report
「During the fiscal year, COVID-19 was reclassified as a Category V infectious disease, economic activity normalized, and the economy showed signs of a gradual recovery. However, unstable economic conditions continued due to the impact of soaring resource prices caused by heightened geopolitical risks related to Ukraine and the Middle East, as well as exchange-rate risks.」
While describing the reclassification of COVID-19 as a Category V infectious disease and the normalization of economic activity, the disclosure indicates an unstable economic environment in which geopolitical risks related to Ukraine and the Middle East, soaring resource prices and exchange-rate risks remain. - FY2024-Q3Economic recovery alongside higher costs and inflationAnnual report
「During the cumulative third-quarter period, the economy showed signs of a gradual recovery due to improvements in the income environment from wage increases and the recovery in inbound demand. However, uncertainty about the outlook continued due to higher energy and raw material costs and the impact of inflation, particularly in Europe and the United States.」
While indicating a gradual economic recovery driven by wage increases and inbound demand, the disclosure also cites higher energy and raw material costs and inflation in Europe and the United States as sources of uncertainty about the outlook. - FY2024-Q2Economic recovery alongside geopolitical risks and the impact of monetary tighteningAnnual report
「Economic activity moved toward a full-scale reopening, supported by increased personal consumption and inbound demand, and the economy showed signs of recovery. However, the outlook remained uncertain due to heightened geopolitical risks, including the prolonged situation in Ukraine and tensions in US-China relations, soaring global resource prices and the impact of continued monetary tightening.」
While indicating a full-scale reopening of economic activity and an economic recovery trend, the disclosure cites the prolonged situation in Ukraine, tensions in US-China relations, soaring resource prices and the impact of continued monetary tightening as sources of uncertainty about the outlook. - FY2024-Q1WorsenedAnnual report
「As economic activity normalized, the economy showed signs of a gradual recovery. However, uncertainty about the outlook continued due to higher energy prices and rising prices resulting from the prolonged situation in Ukraine, as well as global supply-chain disruptions.」
While acknowledging the economic recovery, the disclosure cites the prolonged situation in Ukraine, higher energy prices, rising prices and global supply-chain disruptions as sources of uncertainty. - FY2023RestatedAnnual report
「Unstable economic conditions continued due to soaring global energy prices, rising prices and sharp exchange-rate fluctuations.」
The disclosure continues to cite an unstable economic environment caused by fluctuations in energy prices, general prices and exchange rates. - FY2023-Q3WorsenedAnnual report
「During the cumulative third-quarter period, the economy showed signs of recovery, driven by personal consumption and corporate capital investment. However, uncertainty about the outlook continued due to higher raw material and energy prices resulting from the resurgence of COVID-19, rising geopolitical risks and the prolonged situation in Ukraine, as well as higher prices resulting from yen depreciation.」
While signs of an economic recovery were seen, the disclosure continues to identify and provide greater detail on the resurgence of COVID-19, geopolitical risks, the prolonged situation in Ukraine, higher raw material and energy prices, and price increases caused by yen depreciation as sources of uncertainty. - FY2023-Q2WorsenedAnnual report
「Recently, prices have risen more than expected due to the resurgence of COVID-19, heightened tensions between the United States and China, the deteriorating situation between Russia and Ukraine, higher raw material and energy prices, and the rapid yen depreciation resulting from a widening interest-rate differential between Japan and the United States. Uncertainty about the outlook therefore continues.」
In addition to previous concerns over infectious diseases, geopolitical risks and rising prices, the disclosure explicitly cites tensions between the United States and China, the deteriorating situation between Russia and Ukraine, higher raw material and energy prices, and rapid yen depreciation, broadening the factors of uncertainty in the external economic environment. - FY2023-Q1WorsenedAnnual report
「Although the economy showed signs of recovery as manufacturing production and personal consumption recovered, uncertainty about the outlook continued against a backdrop of the spread of the Omicron variant, higher prices resulting from the deterioration of the situation in Ukraine, and logistics disruptions caused by the lockdown in Shanghai.」
In addition to the previous uncertainty caused by the spread of infectious diseases, higher prices resulting from the situation in Ukraine and logistics disruptions caused by the lockdown in Shanghai are newly specified, broadening the factors of concern in the external economic environment. - FY2022RestatedAnnual report
「During the fiscal year, Japan's economy remained unstable due to the spread of COVID-19. Although the economy showed signs of recovery as global economic conditions and manufacturing production recovered, uncertainty about the outlook continued against a backdrop of the spread of the Omicron variant.」
The disclosure continues to reflect the view that signs of economic recovery coexisted with uncertainty about the outlook against a backdrop of the spread of the Omicron variant. - FY2022-Q3Economic recovery alongside continued uncertaintyAnnual report
「During the cumulative third-quarter period, the economy showed signs of recovery against a backdrop of a global economic recovery and eased activity restrictions, although uncertainty about the outlook continued. Personal consumption was trending upward, and the performance of many manufacturing companies was relatively solid, while non-manufacturing performance remained at significantly depressed levels.」
While describing a recovery supported by the global economic recovery and eased activity restrictions, the disclosure states that uncertainty about the outlook and weakness in non-manufacturing continued. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, signs of recovery in manufacturing performance were seen against a backdrop including increased exports, and capital investment also showed signs of recovery. However, uncertainty about the outlook increased due to the resurgence of COVID-19, while the performance of many non-manufacturing companies and personal consumption remained at significantly depressed levels.」
While acknowledging signs of recovery in manufacturing and a rebound in capital investment, the disclosure continues to cite uncertainty about the outlook caused by the resurgence of COVID-19 and sluggish non-manufacturing performance and personal consumption. - FY2022-Q1RestatedAnnual report
「During the cumulative first-quarter period, signs of recovery in performance were seen in manufacturing, and capital investment also showed signs of recovery. However, the spread of COVID-19 still showed no signs of coming under control, and the performance of many non-manufacturing companies and personal consumption remained at significantly depressed levels.」
The disclosure continues to reflect an economic environment in which manufacturing and capital investment show signs of recovery, while COVID-19 has not come under control and non-manufacturing performance and personal consumption remain sluggish. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy was forced to curtail economic activity because of the spread of COVID-19. Although some economic activity had recently resumed, concerns about a resurgence of infections, particularly in Europe, were spreading. Uncertainty also intensified over the prolonged US-China confrontation and foreign-exchange trends, and it was expected to take still longer for the economy to reach a phase of growth recovery.」
In addition to concerns over a resurgence of infections, the disclosure cites the prolonged US-China confrontation and increased uncertainty over foreign-exchange trends, indicating that growth recovery is expected to take still longer. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter of the consolidated fiscal year, Japan's economy was forced to curtail economic activity because of the spread of COVID-19. Although some economic activity had recently partially resumed and restrictions had begun to be lifted, concerns about a resurgence of infections, particularly in Europe, were spreading, and it was expected to take still longer for the economy to reach a phase of growth recovery.」
While some economic activity resumed and restrictions were lifted, the disclosure notes growing concern over a resurgence of infections, particularly in Europe, and expects recovery in growth to take still longer. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter of the consolidated fiscal year, Japan's economy was forced to curtail economic activity because of the spread of COVID-19. The economies of countries around the world also entered a sharp slowdown as a result of the pandemic, making it difficult to forecast the outlook.」
The disclosure continues to describe restrictions on domestic economic activity, a sharp slowdown in the global economy and difficulty forecasting the outlook because of COVID-19. - FY2021-Q1WorsenedAnnual report
「The spread of the infection caused economies around the world to enter a sharp slowdown, making it difficult to forecast the outlook.」
The spread of COVID-19 caused economies worldwide to slow sharply, making the outlook difficult to assess. - FY2020WorsenedAnnual report
「The prolonged impact of US-China trade frictions caused weakness in some areas of external demand, and uncertainty over the economic outlook gradually intensified.」
Weakness in external demand and uncertainty over the economic outlook continued as a result of US-China trade frictions; forecasts of a contraction in the semiconductor market were also indicated. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter of the consolidated fiscal year, personal income continued to improve alongside favorable employment conditions, and personal consumption grew moderately. However, signs of weakness began to emerge in some areas of external demand because of prolonged US-China trade frictions, increasing uncertainty over the economic outlook.」
The disclosure states that prolonged US-China trade frictions caused weakness in some areas of external demand and increased uncertainty over the economic outlook. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter of the consolidated fiscal year, Japan's economy showed emerging uncertainty about the outlook. Although employment and income conditions continued to improve, some companies experienced deteriorating performance amid worsening Japan-South Korea relations and issues in the Middle East, as well as US-China trade frictions. Overseas, capital investment and personal consumption remained solid in the United States, while China's economic recovery showed signs of stalling due in part to the impact of trade frictions.」
In addition to uncertainty caused by US-China trade frictions, the disclosure cites worsening Japan-South Korea relations, issues in the Middle East, deteriorating performance at some companies and China's stalled recovery, broadening concerns about the external economic environment. - FY2020-Q1WorsenedAnnual report
「During the cumulative first quarter of the consolidated fiscal year, cautious views of the economic outlook became widespread in Japan as a result of US-China trade frictions. As external demand weakened, signs of a slowdown emerged, mainly in corporate production and exports. Overseas, the US economy remained solid for the time being, but the outlook was uncertain amid geopolitical risks arising from prolonged US-China trade frictions and concerns over economic stagnation in countries around the world.」
Previous concerns over trade policy and trade frictions became more concrete in the form of a visible slowdown in corporate production and exports and concerns over economic stagnation worldwide, indicating heightened uncertainty in the economic environment. - FY2019RestatedAnnual report
「Looking to the global economy, concerns about the future impact of trade frictions between China and other countries in connection with US trade policy, as well as the UK's withdrawal from the EU, had not yet been dispelled. Nevertheless, economic conditions in each country remained generally solid, and exports from Japan also remained at a high level.」
The disclosure continues to cite concerns over US trade policy, trade frictions centered on China and the UK's withdrawal from the EU, while describing economic conditions in each country as generally solid. - FY2019-Q3Addition of references to natural disastersAnnual report
「During the cumulative third quarter of the consolidated fiscal year under review, the Japanese economy was hit by a succession of natural disasters, including torrential rain and earthquakes. Nevertheless, corporate performance remained solid, employment expanded and capital investment continued its gradual recovery. Overseas, concerns over the impact of trade friction between China and countries around the world, particularly in connection with US trade policy, had still not been dispelled, but economic conditions in each country remained broadly solid, and exports from Japan remained at a high level.」
The disclosure continues to cite concerns over US trade policy and trade friction, particularly with China, while newly identifying a succession of natural disasters, including torrential rain and earthquakes, as an economic-environment factor. - FY2019-Q2RestatedAnnual report
「Looking overseas, although there were concerns about the impact of trade friction between countries around the world, particularly China, stemming from US trade policy, economic conditions in each country remained solid, and exports from Japan also remained at a high level.」
In addition to US trade policy, the disclosure cites concern about trade friction with countries around the world, particularly China, while assessing economic conditions in each country as solid. - FY2019-Q1RestatedAnnual report
「Looking overseas, although there were concerns about the impact of US trade policy on the global economy, economic conditions in each country remained solid, and exports from Japan also remained at a high level.」
While noting concern about the impact of US trade policy on the global economy, the disclosure states that economic conditions in each country remained solid. - FY2018RestatedAnnual report
「During the fiscal year under review, although there were concerns about geopolitical risks in East Asia and elsewhere, the Japanese economy continued to expand, albeit moderately, supported by solid domestic corporate performance and a significant improvement in employment conditions.」
While concerns about geopolitical risks in East Asia remained, the disclosure states that the domestic and global economies continued to recover and expand, with foreign-exchange markets also relatively stable. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy faced heightened concern over geopolitical risks in East Asia and elsewhere. Nevertheless, domestic companies continued to improve in terms of earnings and employment, and the economy was basically sustaining a moderate recovery trend. Turning to the global economy, concerns remained about political developments in the United States, but the US economy was steadily recovering, supported by favorable employment conditions and other factors. Emerging economies such as China also showed signs of recovery.」
While concern remained over geopolitical risks in East Asia and US politics, the disclosure cited continued recovery in Japan, the United States and emerging economies such as China, maintaining the previous assessment of the economic environment. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, although concern about geopolitical risks and political risks in Europe and the United States remained elevated, the US economy continued to recover steadily, supported by strong employment conditions. In addition, signs of easing in the slowdown of the economies of emerging countries such as China were observed, and domestic corporate earnings and employment continued to improve. Overall, the economy was sustaining a moderate recovery trend.」
While concern about geopolitical risks and political risks in Europe and the United States continued, the disclosure notes signs of an easing slowdown in China and other emerging economies. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter under review, although there was heightened concern about geopolitical risks and political risks in Europe and the United States, the US economy continued to recover steadily, supported by strong employment conditions. This led to signs of improvement, particularly in domestic corporate earnings and employment, and the economy was essentially sustaining moderate growth.」
While noting concern about geopolitical risks and political risks in Europe and the United States, the disclosure states that the economy essentially continued to grow moderately. - FY2017RestatedAnnual report
「However, while the yen and stock markets remained volatile, corporate earnings showed some signs of slowing. In addition, major changes in the global political environment, including the US presidential election, the UK's withdrawal from the EU and slower growth in emerging countries created uncertainty about the future outlook for the domestic and overseas economies.」
The disclosure continues to cite volatility in the yen and stock markets, changes in global politics, the UK's withdrawal from the EU and slower growth in emerging countries as sources of economic uncertainty. - FY2017-Q3RestatedAnnual report
「However, while the strong yen and falling stock prices continued, corporate earnings showed some signs of slowing. In addition, the issue of the UK's withdrawal from the EU and slower growth in emerging countries created uncertainty about the future outlook for the domestic and overseas economies.」
Uncertainty caused by yen appreciation, weak stock prices, the UK's withdrawal from the EU and slowing growth in emerging countries continued to be disclosed, as in the previous quarter. - FY2017-Q2WorsenedAnnual report
「However, while the strong yen and falling stock prices persisted, uncertainty about the future outlook for the domestic and overseas economies increased further as a result of the issue of the UK's withdrawal from the EU and slower growth in emerging countries.」
In addition to emerging-market conditions and foreign-exchange fluctuations, the disclosure identifies the strong yen, falling stock prices, the UK's withdrawal from the EU and slower growth in emerging countries as sources of economic uncertainty, broadening the range of risk factors. - FY2017-Q1First statedAnnual report
「Although there were downside risk factors for the economy, including the outlook for emerging-market economies such as China and fluctuations in oil prices and foreign-exchange rates,」
External economic conditions, oil prices and foreign-exchange fluctuations are identified as downside factors for the economy.