Political, economic, and foreign exchange risks associated with overseas expansion
First written in FY2016. 11 of 17 entries say "Restated". Latest entry: FY2026.
Nippon Air Conditioning Services moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2025: 72 of 117 companies on the "Worse" side.
23 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「NACS Engineering Myanmar Co., Ltd. Myanmar Yangon THB 10 million Building Equipment Maintenance Division 100.0 (100.0) The company provides maintenance services for manufacturing plants and other facilities of Japanese companies in Myanmar. (営業活動停止中 due to the unstable social situation in Myanmar.)」
Regarding the impact of local conditions previously recognized as an overseas expansion risk, the disclosure states that the Myanmar subsidiary has currently suspended its business activities. - FY2025RestatedAnnual report
「○ Prompt in-house response and attentive service provided through approximately 2,500 technical employees and locations across Japan and 6 overseas countries」
The overseas business platform based on locations including 6 overseas countries, together with the associated risks of overseas expansion, continues to be disclosed. - FY2023ReframedAnnual report
「Prompt in-house response and attentive service provided through approximately 2,500 technical employees and locations across all prefectures of Japan and 6 overseas countries」
The overseas locations are now described as covering 6 countries, compared with the 7 countries previously disclosed, following the dissolution of the Malaysian subsidiary. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2021WorsenedAnnual report
「● Disruption of overseas operations due to language, geographical factors, various regulations including legal and tax systems, political and economic turmoil, unexpected foreign exchange rate movements, differences in business practices, strikes by local employees, and other factors in the countries of operation ● Competition with competing companies in the countries of operation ● Impairment losses resulting from failure to achieve business plans」
In addition to the existing political, economic, and foreign exchange risks, the disclosure explicitly identifies competition in the countries of operation and impairment losses resulting from failure to achieve business plans, broadening the scope of risks relating to overseas operations. - FY2021-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no new business risks and no material changes to the business risks described in the previous fiscal year's securities report.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2021-Q2RestatedAnnual report
「During the six-month period ended the second quarter of the current consolidated fiscal year, there were no new business risks or material changes to the business risks described in the previous fiscal year's Annual Securities Report.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2020RestatedAnnual report
「● Disruption of overseas operations due to language, geographical factors, various regulations including legal and tax systems, political and economic turmoil, unexpected foreign exchange rate movements, differences in business practices, strikes by local employees, and other factors in the countries of operation」
The risks of political and economic turmoil, foreign exchange movements, regulations, differences in business practices, strikes, and other factors associated with operations in 7 overseas countries continue to be disclosed. - FY2020-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no new business risks and no material changes to the business risks described in the previous fiscal year's securities report.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2020-Q2RestatedAnnual report
「During the six-month period ended the second quarter of the current consolidated fiscal year, there were no new business risks or material changes to the business risks described in the previous fiscal year's Annual Securities Report.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2019RestatedAnnual report
「The Group operates in 7 countries: China, Bangladesh, Singapore, Thailand, Malaysia, Vietnam, and Myanmar, and plans to continue expanding overseas, primarily in Asia. Political or economic turmoil in these countries and unexpected foreign exchange rate movements could affect the Group’s performance.」
The risks associated with operations in 7 countries, further overseas expansion centered on Asia, and political, economic, and foreign exchange factors continue to be disclosed. - FY2019-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no new business risks and no material changes to the business risks described in the previous fiscal year's securities report.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2019-Q2RestatedAnnual report
「During the six-month period ended the second quarter of the current consolidated fiscal year, there were no new business risks or material changes to the business risks described in the previous fiscal year's Annual Securities Report.」
The disclosure states that there have been no new risks or significant changes concerning the political, economic, and foreign exchange risks associated with overseas expansion. - FY2018WorsenedAnnual report
「The Group operates in 7 countries: China, Bangladesh, Singapore, Thailand, Malaysia, Vietnam, and Myanmar, and plans to continue expanding overseas, primarily in Asia. Political or economic turmoil in these countries and unexpected foreign exchange rate movements could affect the Group’s performance.」
The number of countries in which the Group operates overseas has expanded from 5 to 7, explicitly indicating broader overseas exposure, including Vietnam and Myanmar, together with the associated political, economic, and foreign exchange risks. - FY2017WorsenedAnnual report
「The Group operates in 5 countries: China, Bangladesh, Singapore, Thailand, and Malaysia, and plans to continue expanding overseas, primarily in Southeast Asia. Political or economic turmoil in these countries and unexpected foreign exchange rate movements could affect the Group’s performance.」
The Group’s overseas operations and target countries are explicitly stated to comprise 5 countries, including Thailand and Malaysia in addition to China, Bangladesh, and Singapore, indicating broader overseas exposure. - FY2016First statedAnnual report
「Political or economic turmoil in these countries and unexpected foreign exchange rate movements could affect the Group’s performance.」
The disclosure identifies country-specific and foreign exchange risks relating to China, Bangladesh, Singapore, and planned expansion in Southeast Asia.