Economic uncertainty driven by U.S.-China relations and a no-deal Brexit
First written in FY2019-Q3. 13 of 24 entries say "Restated". Latest entry: FY2026-H1.
Power Solutions moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
76 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「During the six-month interim consolidated period under review (from 1 January 2026 to 30 June 2026), the Japanese economy entered a gradual recovery phase, supported by improvements in the income environment and growth in inbound demand. However, the outlook continued to be uncertain due to persistent price increases and heightened tensions in the Middle East.」
The disclosure cites a gradual recovery supported by improvements in the income environment and inbound demand, while adding heightened tensions in the Middle East to persistent price increases as a new source of uncertainty. - 2026-05-14RestatedEarnings
「On the other hand, uncertainty about the outlook continues due to persistent inflation and escalating tensions in the Middle East.」
Cites escalating tensions in the Middle East, in addition to inflation, as a factor contributing to uncertainty about the outlook. - FY2025RestatedAnnual report
「During the fiscal year under review, the Japanese economy entered a gradual recovery phase, supported by improvements in the income environment and growth in inbound demand. However, the outlook continued to be uncertain due to persistent price increases and concerns over future U.S. trade policy.」
The disclosure cites a gradual recovery supported by improvements in the income environment and growth in inbound demand, while continuing price increases and concerns over future U.S. trade policy continue to create uncertainty over the outlook. - 2026-03-05RestatedGeneral Meetings of Shareholders
「On the other hand, uncertainty about the outlook continues due to persistent inflation and concerns about future U.S. trade policy.」
Continues to cite inflation and concerns about U.S. trade policy as factors contributing to uncertainty about the economic outlook. - FY2025-H1WorsenedAnnual report
「During the six-month interim consolidated period under review (from 1 January 2025 to 30 June 2025), the Japanese economy entered a gradual recovery phase, supported by improvements in the income environment and growth in inbound demand. However, the outlook remained uncertain due to rising prices resulting from the prolonged depreciation of the yen. Overseas, uncertainty also continued amid the protectionist trade policies of the U.S. Trump administration and concerns over the outlook for the Chinese economy.」
The domestic economy benefited from improvements in the income environment and growth in inbound demand, while rising prices resulting from the prolonged depreciation of the yen, protectionist U.S. trade policies and concerns over the Chinese economy were identified as sources of uncertainty. - FY2024RestatedAnnual report
「During the fiscal year under review, the Japanese economy entered a gradual recovery phase, with brighter signs including the Nikkei Average reaching a record high and growth in personal consumption and inbound demand. However, many concerns remained, including global geopolitical uncertainty, yen depreciation in the foreign exchange market and higher resource prices, and the outlook continued to be uncertain.」
The disclosure cites brighter signs while continuing to address uncertainty over the outlook due to global geopolitical uncertainty, yen depreciation and higher resource prices. - FY2024-H1RestatedAnnual report
「During the six-month interim consolidated period under review (from 1 January 2024 to 30 June 2024), the Japanese economy showed signs of brighter economic activity, including the Nikkei Average reaching a record high. However, personal consumption remained sluggish, and many concerns remained, including global geopolitical uncertainty, yen depreciation in the foreign exchange market, and rising prices, particularly due to higher resource prices. The outlook therefore remained uncertain.」
The disclosure continues to cite brighter signs such as the Nikkei Average reaching a record high, while sluggish personal consumption, global geopolitical uncertainty, yen depreciation and rising prices driven partly by higher resource prices continue to create uncertainty over the economic outlook. - FY2024-Q1WorsenedAnnual report
「During the cumulative first quarter of the fiscal year under review (from 1 January 2024 to 31 March 2024), the Japanese economy showed signs of brighter economic activity, including the Nikkei Average reaching a record high. However, personal consumption remained sluggish, and many concerns remained, including global geopolitical uncertainty, yen depreciation in the foreign exchange market, and rising prices, particularly due to higher resource prices. The outlook therefore remained uncertain.」
While brighter signs such as the Nikkei Average reaching a record high are noted, sluggish personal consumption, global geopolitical uncertainty, yen depreciation and rising prices, including higher resource prices, are added as concerns, and uncertainty over the outlook continues. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year under review (from 1 January 2023 to 30 September 2023), the Japanese economy continued to face an uncertain outlook due to the prolonged impact of COVID-19, the unstable situation in Ukraine and global inflation, including inflation in resources and fuel.」
The disclosure continues to address uncertainty over the economic outlook resulting from COVID-19, the situation in Ukraine and global inflation. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year under review (from 1 January 2023 to 30 June 2023), the Japanese economy continued to face an uncertain outlook due to the prolonged impact of COVID-19, the unstable situation in Ukraine and global inflation, including inflation in resources and fuel.」
The disclosure continues to address uncertainty over the economic outlook resulting from the prolonged COVID-19 pandemic, the unstable situation in Ukraine and global inflation. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter of the fiscal year under review (from 1 January 2023 to 31 March 2023), the Japanese economy continued to face an uncertain outlook due to the prolonged impact of COVID-19, the unstable situation in Ukraine and global inflation, including inflation in resources and fuel.」
In addition to COVID-19 and the situation in Ukraine, global inflation, particularly in resources and fuel, is identified as a new source of uncertainty over the economic outlook. - FY2022WorsenedAnnual report
「During the fiscal year under review, the Japanese economy continued to face an uncertain outlook amid an uncertain global situation resulting from the prolonged impact of COVID-19, the situation in Ukraine and the tightening of U.S. monetary policy, among other factors.」
In addition to the prolonged COVID-19 pandemic and the situation in Ukraine, the disclosure cites the tightening of U.S. monetary policy and other factors contributing to an uncertain global situation. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year under review (from 1 January 2022 to 30 September 2022), the Japanese economy continued to face an uncertain outlook due to the prolonged impact of COVID-19, an uncertain global situation resulting from the situation in Ukraine and other factors, and the rapid depreciation of the yen.」
In addition to COVID-19, the disclosure newly cites the uncertain global situation resulting from the situation in Ukraine and other factors, as well as the rapid depreciation of the yen, broadening the sources of uncertainty over the economic outlook. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year under review (from 1 January 2022 to 31 March 2022), the Japanese economy was moving toward recovery as infrastructure to prevent the spread of COVID-19 was put in place and vaccines became more widely available, although the continued spread of COVID-19 remained a concern. However, the timing of the end of the pandemic remained unforeseeable, and the outlook continued to be uncertain.」
The disclosure states that economic activity was moving toward recovery, while uncertainty over the economic outlook continued because the timing of the end of the COVID-19 pandemic remained unforeseeable. - FY2021RestatedAnnual report
「Economic activity was recovering as COVID-19 vaccines became more widely available, but the outlook remained uncertain as the recovery in personal consumption was sluggish and infections resurged following the emergence of variant strains.」
The disclosure states that uncertainty over the economic outlook continued even after vaccines became widely available due to resurgent infections and variant strains. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year under review (from 1 January 2021 to 30 September 2021), the Japanese economy remained in a difficult situation, as economic and social activity continued to face significant restrictions due to the prolonged impact of COVID-19. Although COVID-19 vaccinations were progressing, the timing of the end of the pandemic remained unforeseeable, and the outlook continued to be uncertain.」
Economic and social activity continued to face significant restrictions due to the prolonged COVID-19 pandemic. Although vaccinations were progressing, the timing of the end of the pandemic remained unforeseeable and the outlook remained uncertain. - FY2021-Q2RestatedAnnual report
「The spread of COVID-19 led to the issuance of a third declaration of a state of emergency and priority measures to prevent the spread of the disease. Although vaccinations have begun, the outlook remains uncertain.」
The disclosure states that uncertainty over the economic outlook continues despite the third declaration of a state of emergency, priority measures to prevent the spread of the disease and the start of vaccinations. - FY2021-Q1WorsenedAnnual report
「Although a decline in the number of infections is expected as COVID-19 vaccinations progress, the economic outlook remains uncertain due to concerns including the spread of variant strains and delays in the rollout of vaccines.」
In addition to restrictions on socioeconomic activity resulting from renewed declarations of a state of emergency, the spread of variant strains and delays in the vaccine rollout are identified as new concerns, and uncertainty over the economic outlook continues. - FY2020RestatedAnnual report
「During the fiscal year under review, the Japanese economy had been expected to continue its gradual recovery amid ongoing improvements in employment and income conditions. However, it was forced into a major slowdown as the spread of COVID-19, corporate restrictions on activities in response, and the declaration of a state of emergency caused personal consumption, exports and production to decline. Even after the state of emergency was lifted, the outlook remained uncertain due to concerns over a resurgence of infections.」
The disclosure continues to address the economic slowdown caused by the spread of COVID-19 and restrictions on corporate activities, as well as uncertainty over the outlook due to concerns over a resurgence of infections. - FY2020-Q3WorsenedAnnual report
「Even after the state of emergency was lifted, the outlook remained uncertain amid continued vigilance against a second and third wave of infections.」
The disclosure continues to address the economic slowdown and uncertainty caused by COVID-19, adding vigilance against a third wave of infections to the previously stated concern about a second wave. - FY2020-Q2WorsenedAnnual report
「During the six months ended 30 June 2020 (from 1 January 2020 to 30 June 2020), the Japanese economy had been expected to recover moderately as employment and income conditions continued to improve. However, it was forced to slow sharply as the spread of COVID-19, corporate restrictions on business activity in response, and the declaration of a state of emergency reduced personal consumption, exports and production. Even after the state of emergency was lifted, the outlook remained uncertain amid continued vigilance against a second wave of infections.」
The disclosure cites the spread of COVID-19, restrictions on corporate activity, the state of emergency, declines in personal consumption, exports and production, and vigilance against a second wave of infections, indicating a sharper economic slowdown and greater uncertainty over the outlook. - FY2020-Q1WorsenedAnnual report
「Economic activity has stagnated due to the impact of the novel coronavirus disease, and there are serious concerns about its impact on the real economy, as the timing of the end of the spread of infections remains unforeseeable.」
In addition to the previous concerns about an economic slowdown resulting from U.S.-China relations, the disclosure has expanded to address stagnating economic activity due to COVID-19 and serious concerns about its impact on the real economy. - FY2019RestatedAnnual report
「During the fiscal year, the Japanese economy continued to recover moderately, although the economic outlook remained uncertain against a backdrop of concerns about an economic slowdown resulting from U.S.-China relations and other factors.」
The company continues to disclose uncertainty over the economic outlook. This disclosure focuses on concerns about an economic slowdown resulting from U.S.-China relations and other factors, without mentioning the United Kingdom leaving the EU without a deal as in the previous disclosure. - FY2019-Q3First statedAnnual report
「During the nine months ended 30 September 2019 (from 1 January 2019 to 30 September 2019), the Japanese economy continued to recover moderately, although the economic outlook remained uncertain against a backdrop of concerns over U.S.-China relations and the United Kingdom leaving the EU without a deal.」
The company identifies uncertainty over the economic outlook, driven by concerns over U.S.-China relations and a no-deal Brexit, as an external risk.