Downward pressure on economic activity from lower crude oil prices and concerns over emerging Asian economies
First written in FY2016. 9 of 31 entries say "Restated". Latest entry: FY2026-H1.
Focus Systems 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 2019: 101 of 178 companies on the "Worse" side.
20 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「As the global economy's recovery slows, it remains necessary to monitor the economic downside caused by developments in US trade policy and fluctuations in the financial and capital markets, as well as the risk of an overall economic downturn due to changes in the situation in the Middle East.」
The description of external-environment risks has been updated to focus on the risk of an economic downturn due to developments in US trade policy, fluctuations in the financial and capital markets, and the situation in the Middle East. - FY2025WorsenedAnnual report
「The global economy is recovering, but it remains necessary to monitor the increasing risk of an economic downturn due to continued high interest rates in Europe and the US, the situation in the Middle East, the impact of US policy trends, fluctuations in the financial and capital markets, and other factors.」
The external-environment risks identified include an increasing risk of an economic downturn due to high interest rates in Europe and the US, US policy trends, the situation in the Middle East, and fluctuations in the financial and capital markets. - FY2025-H1ReframedAnnual report
「The global economy is recovering, but it remains necessary to monitor the impact of the risk of an economic downturn associated with continued high interest rates in Europe and the US and concerns about the outlook for the Chinese economy, as well as the situation in the Middle East, fluctuations in the financial and capital markets, and other factors.」
The description of external-environment risks has been updated to focus on high interest rates in Europe and the US, the Chinese economy, the situation in the Middle East, and fluctuations in the financial and capital markets. - FY2024WorsenedAnnual report
「The global economy is recovering despite weakness in some regions, but it remains necessary to monitor the increasing risk of an economic downturn due to global monetary tightening, rising prices, the situation in the Middle East, fluctuations in the financial and capital markets, and other factors.」
Global monetary tightening and the situation in the Middle East are explicitly identified as external-environment risks, and an increasing risk of an economic downturn is noted alongside rising prices and financial market volatility. - FY2024-Q3RestatedAnnual report
「The global economy is recovering despite weakness in some regions, but it remains necessary to pay close attention to the impact of rising prices, geopolitical risks, and fluctuations in the financial and capital markets.」
While indicating that the global economy is recovering, the need to monitor the impact of rising prices, geopolitical risks, and fluctuations in the financial and capital markets has been reaffirmed. - FY2024-Q2WorsenedAnnual report
「The global economy is also continuing to recover, but it remains necessary to pay close attention to the increasing risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, supply-side constraints, geopolitical risks, and other factors.」
In addition to the previously noted financial and capital markets, rising prices, and supply-side constraints, geopolitical risks are explicitly identified as external-environment risks. - FY2024-Q1RestatedAnnual report
「The global economy is also continuing to recover, but it remains necessary to pay close attention to the increasing risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, supply-side constraints, and other factors.」
The need to monitor the increasing risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, and supply-side constraints has been reaffirmed. - FY2023-Q3WorsenedAnnual report
「The global economy is also continuing to recover, but it remains necessary to pay close attention to the increasing risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, supply-side constraints, and other factors, as well as developments in COVID-19 infections in China.」
The risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, and supply-side constraints is described as increasing, and developments in COVID-19 infections in China are explicitly identified as a new area requiring attention. - FY2023-Q2ReframedAnnual report
「The global economy is also continuing to recover, but it remains necessary to monitor the risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, supply-side constraints, and other factors.」
The description of external-environment risks has been reorganized to include, in addition to the previously noted infectious disease and situation in Ukraine, the risk of an economic downturn due to fluctuations in the financial and capital markets, rising prices, and supply-side constraints. - FY2023-Q1WorsenedAnnual report
「The global economy is also showing signs of recovery, but amid continued uncertainty about the outlook due to the renewed spread of COVID-19, the prolonged instability surrounding Ukraine, inflation, and other factors, it remains necessary to pay close attention to the risk of an economic downturn.」
In addition to the renewed spread of COVID-19, the prolonged instability surrounding Ukraine and inflation continue to be explicitly identified as external-environment risks. - FY2022ReframedAnnual report
「The global economy is also showing signs of recovery, but amid continued uncertainty about the outlook due to the renewed spread of COVID-19, the situation in Ukraine, higher crude oil prices, inflation, and other factors, it remains necessary to pay close attention to the risk of an economic downturn.」
The focus of external-environment risks has shifted from the previously identified China, policy uncertainty, and financial market volatility to uncertainty including the renewed spread of COVID-19, the situation in Ukraine, higher crude oil prices, and inflation. - FY2022-Q3WorsenedAnnual report
「The global economy is also generally recovering, but there is a risk of an economic downturn due to the impact on supply chains and renewed stagnation in the movement of people resulting from the emergence of new variants, in addition to the lingering effects of COVID-19.」
In addition to the existing risks from the lingering effects of COVID-19, supply chains, and stagnation in the movement of people, the impact of the emergence of new variants is explicitly identified as an external-environment risk. - FY2022-Q2WorsenedAnnual report
「The global economy is also generally recovering, but there is a risk of an economic downturn due to the impact on supply chains and stagnation in the movement of people caused by the lingering effects of COVID-19.」
The lingering effects of COVID-19 are specifically linked to the risk of an economic downturn due to supply-chain impacts and stagnation in the movement of people. - FY2022-Q1RestatedAnnual report
「The global economy is also generally recovering, but there is a risk of an economic downturn due to the impact of the current renewed spread of COVID-19 on economic activity.」
While the global economy is showing signs of recovery, the risk of an economic downturn due to the renewed spread of COVID-19 continues to be identified. - FY2021-Q3RestatedAnnual report
「The global economy is also showing signs of recovery, but it remains necessary to continue closely monitoring the impact of a renewed global spread of COVID-19 and fluctuations in the financial and capital markets.」
Continued monitoring of the impact of the renewed global spread of COVID-19 and fluctuations in the financial and capital markets is noted. - FY2021-Q1WorsenedAnnual report
「During the first quarter under review, Japan's economy was generally in difficult conditions as economic activity was restricted under the state of emergency, but the decline is gradually bottoming out and a recovery is expected. However, depending on future developments in COVID-19, the economy could weaken again. The global economy is also gradually reopening, but uncertainty remains high worldwide, including the possibility of second and third waves of COVID-19, and it remains necessary to continue closely monitoring the impact of overseas economic developments and fluctuations in the financial and capital markets.」
The downside pressure on the domestic economy from COVID-19 has materialized, and continued uncertainty is indicated, including the possibility of second and third waves, overseas economic conditions, and fluctuations in the financial and capital markets. - FY2020MaterialisedAnnual report
「During the fiscal year under review, Japan's economy was on a gradual recovery trend through the cumulative third quarter, but from the fourth quarter onward, economic activity was significantly weakened by the impact of COVID-19, and difficult conditions are expected to continue.」
It is stated that the economic downside caused by COVID-19, identified as an existing external economic environment risk, has actually materialized. - FY2020-Q3The UK's withdrawal from the EU and the situation in the Middle East added to external-environment risksAnnual report
「The global economy is expected to recover, but developments surrounding trade issues, the UK's withdrawal from the EU, the outlook for the Chinese economy, the situation in the Middle East, fluctuations in the financial and capital markets, and other factors pose risks to the domestic economy.」
In addition to the previously noted trade issues, the Chinese economy, and fluctuations in the financial and capital markets, the UK's withdrawal from the EU and the situation in the Middle East are explicitly identified as external-environment risks. - FY2020-Q2RestatedAnnual report
「The global economy is expected to sustain its recovery, but developments in trade issues, the outlook for the Chinese economy, policy uncertainty, fluctuations in the financial and capital markets, and other factors pose risks to the domestic economy.」
The risks of impacts on the domestic economy from trade issues, the Chinese economy, policy uncertainty, and fluctuations in the financial and capital markets continue to be identified. - FY2020-Q1RestatedAnnual report
「The global economy is expected to sustain its recovery, but developments in trade issues, the outlook for the Chinese economy, policy uncertainty, fluctuations in the financial and capital markets, and other factors pose risks to the domestic economy.」
The risks of impacts on the domestic economy from trade issues, the Chinese economy, policy uncertainty, and fluctuations in the financial and capital markets continue to be identified. - FY2019-Q3RestatedAnnual report
「There were no new events among the matters described in this quarterly report concerning the business and financial conditions that could materially affect investors' decisions, and no material changes to the matters described under "Business and Other Risks" in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes to the existing risks related to the external economic environment. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, there were no occurrences of matters concerning the business situation, accounting situation or other matters described in the quarterly report that could have a material impact on investors’ decisions, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes to the existing risks related to the external economic environment. - FY2019-Q1Trade issues added to external-environment risksAnnual report
「However, it remains necessary to monitor the outlook for the economies of emerging Asian countries, including China, the impact of policy uncertainty, developments in trade issues, fluctuations in the financial and capital markets, including those in the US, and other factors.」
In addition to the previously noted economic conditions in emerging Asia, policy uncertainty, and fluctuations in the financial and capital markets, developments in trade issues are explicitly identified as an external-environment risk. - FY2018SoftenedAnnual report
「As the domestic economy gradually recovers, private-sector appetite for systems investment, particularly among financial institutions and manufacturers, remains high.」
The economic downside risks previously described, including lower crude oil prices, China and emerging Asia, and US policy, are not explicitly identified as risk items in this securities report; instead, the economic recovery and high level of systems investment are emphasized. - FY2018-Q3Caution regarding policy trends ahead of the US midterm electionsAnnual report
「However, it remains necessary to monitor the outlook for the economies of emerging Asian countries, including China, the impact of policy uncertainty, fluctuations in the financial and capital markets, and other factors. The US economy is also expected to continue its steady recovery, but it remains necessary to monitor future policy trends and their impact ahead of the November midterm elections.」
In addition to the economic conditions in emerging Asian countries such as China, policy uncertainty, and fluctuations in the financial and capital markets, policy trends and their impact in the US ahead of the midterm elections are explicitly noted. - FY2018-Q2Caution regarding the US economic recovery and policy trendsAnnual report
「However, it remains necessary to monitor the outlook for the economies of emerging Asian countries, including China, the impact of policy uncertainty, fluctuations in the financial and capital markets, and other factors. The US economy is also steadily recovering, and a continued steady recovery is expected, but it remains necessary to monitor future policy trends and their impact.」
In addition to the economic conditions in emerging Asian countries such as China, policy uncertainty, and fluctuations in the financial and capital markets, the US economic recovery is noted, while future policy trends are identified as a risk factor. - FY2017Focus shifted to US monetary policy, policy uncertainty and financial market volatilityAnnual report
「However, it is necessary to remain mindful of the effects of the normalization of US monetary policy, the economic outlook for emerging Asian economies including China, the effects of policy-related uncertainties and the effects of volatility in the financial and capital markets.」
In addition to the existing concerns about emerging Asian economies, the normalization of US monetary policy, policy uncertainty and volatility in the financial and capital markets are cited as external-environment risks. - FY2017-Q3Added concerns about the economic policies of the new US administrationAnnual report
「However, concerns remain that the Japanese economy could be pushed downward by the effects of the United Kingdom’s EU withdrawal issue, the economic outlook for emerging Asian economies including China, and concerns about the future direction of the new US administration’s economic policies, and it is necessary to remain mindful of the uncertainties.」
In addition to the United Kingdom’s EU withdrawal issue and concerns about emerging Asian economies, concerns about the future direction of the new US administration’s economic policies were explicitly identified as a downside risk to the economy. - FY2017-Q2RestatedAnnual report
「However, there are concerns that the Japanese economy could be pushed downward by the effects of the United Kingdom’s EU withdrawal issue and concerns about the economic outlook for emerging Asian economies, including China, and it is necessary to remain mindful of the uncertainties.」
Downside risks to the economy, including the United Kingdom’s EU withdrawal issue and concerns about emerging Asian economies, continue to be cited. - FY2017-Q1Added the United Kingdom’s EU withdrawal issue as a risk factorAnnual report
「However, there are concerns that the Japanese economy could be pushed downward by the effects of the United Kingdom’s EU withdrawal issue and concerns about the economic outlook for emerging Asian economies, including China, and it is necessary to remain mindful of the uncertainties.」
In addition to the existing concerns about emerging Asian economies, the United Kingdom’s EU withdrawal issue was explicitly identified as a downside risk to the economy. - FY2016First statedAnnual report
「There are concerns that the Japanese economy could be pushed downward by the effects of lower oil prices and concerns about the economic outlook for emerging Asian economies, including China, and it is necessary to remain mindful of the uncertainties.」
The company recognizes weakness in the domestic economy caused by the external economic environment as a risk.