Uncertainty over the outlook due to a slowdown in China and the UK's withdrawal from the EU
First written in FY2017-Q1. 13 of 33 entries say "Worsened", first in FY2017-Q3. Latest entry: 2026-07-22.
Obic 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 2022: 140 of 172 companies on the "Worse" side.
54 other companies' latest entry also says "Restated".
- 2026-07-22RestatedEarnings
「At the same time, continued attention is required regarding the situation in the Middle East and the impact of volatility in financial and capital markets, and the outlook for the economy remains uncertain.」
The situation in the Middle East, volatility in financial and capital markets, and uncertainty over the economic outlook continue to be cited as external factors. - FY2026WorsenedAnnual report
「At the same time, continued attention is required regarding the situation in the Middle East, the impact of volatility in financial and capital markets, and developments concerning U.S. trade policy. The outlook for the economy therefore remains uncertain.」
In addition to previous factors such as US trade policies and fluctuations in financial and capital markets, the document explicitly identifies the situation in the Middle East as a new external-environment factor. Uncertainty over the economic outlook continues. - 2026-04-21WorsenedRevision of earnings forecasts
「At the same time, continued attention is required regarding the situation in the Middle East, the impact of volatility in financial and capital markets, and developments concerning U.S. trade policy. The outlook for the economy therefore remains uncertain.」
In addition to the overseas economy, financial and capital markets, and U.S. trade policy, the company has explicitly identified the situation in the Middle East as an area requiring attention in the external environment. - FY2025WorsenedAnnual report
「Meanwhile, attention must be paid to the continued rise in prices and the impact of US trade policies, among other factors, and the economic outlook remains uncertain.」
In addition to the previous uncertainty surrounding overseas economies, China’s economy, and financial and capital markets, the document explicitly describes the impact of US trade policies and the continued rise in prices. - FY2025-H1WorsenedAnnual report
「Meanwhile, close attention must be paid to risks from downside conditions in overseas economies, including the continuation of high interest-rate levels in the US and Europe and concerns over China’s economic outlook, as well as the impact of fluctuations in financial and capital markets.」
In addition to the previous concerns over China’s economic outlook, downside risks in overseas economies, and fluctuations in financial and capital markets, the document explicitly describes the continuation of high interest-rate levels in the US and Europe. - FY2024-Q3RestatedAnnual report
「Meanwhile, close attention must be paid to the impact of downside risks in overseas economies, including concerns over China’s economic outlook, as well as the impact of rising prices and fluctuations in financial and capital markets.」
The document continues to identify global monetary tightening, concerns over China’s economic outlook, downside risks in overseas economies, rising prices, and fluctuations in financial and capital markets as external-environment risks. - FY2024-Q2WorsenedAnnual report
「Meanwhile, close attention must be paid to the impact of downside risks in overseas economies, including concerns over China’s economic outlook, as well as the impact of rising prices and fluctuations in financial and capital markets.」
In addition to global monetary tightening, downside risks in overseas economies, rising prices, and fluctuations in financial and capital markets, the document explicitly identifies concerns over China’s economic outlook, broadening the factors requiring attention as external-environment risks. - FY2024-Q1ReframedAnnual report
「Meanwhile, as global monetary tightening and other factors continue, close attention must be paid to the impact of downside risks in overseas economies, rising prices, and fluctuations in financial and capital markets.」
The description has changed from one centred on COVID-19 and supply constraints to external-environment risks centred on global monetary tightening, downside risks in overseas economies, rising prices, and fluctuations in financial and capital markets. - FY2023-Q3RestatedAnnual report
「During the third quarter, Japan’s economy showed signs of recovery while living with COVID-19, supported in part by the effects of various policies. However, close attention must be paid to the impact of downside risks in overseas economies, rising prices, supply-side constraints, and fluctuations in financial and capital markets.」
While the economy is showing signs of recovery while living with COVID-19, the document continues to identify downside risks in overseas economies, rising prices, supply constraints, and fluctuations in financial and capital markets as external-environment risks. - FY2023-Q2ReframedAnnual report
「During the second quarter, Japan’s economy showed signs of recovery as the transition to a new phase of living with COVID-19 progressed, supported in part by the effects of various policies. However, close attention must be paid to the impact of downside risks in overseas economies, rising prices, supply-side constraints, and fluctuations in financial and capital markets.」
The description has shifted from the economic environment under COVID-19 to external-environment risks centred on downside risks in overseas economies, rising prices, supply constraints, and fluctuations in financial and capital markets. - FY2023-Q1WorsenedAnnual report
「However, close attention must be paid to downside risks, including higher raw-material prices and supply-side constraints caused by overseas developments, as well as fluctuations in financial and capital markets.」
In addition to the previous uncertainty surrounding COVID-19, overseas economies, and financial and capital markets, the document explicitly describes higher raw-material prices and supply-side constraints caused by overseas developments, placing greater emphasis on downside risks. - FY2022RestatedAnnual report
「Due to the impact of COVID-19, the outlook remains uncertain for the time being in both the information services industry and the Company’s operating environment.」
The document continues to describe uncertainty in the economic and business environment due to COVID-19. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, Japan’s economy continued to show signs of recovery under the impact of COVID-19, but remains in a severe condition. Although measures to prevent the spread of infection are being implemented and vaccinations promoted, close attention must also be paid to the effectiveness of various policies, trends in the recovery of overseas economies, and impacts transmitted through supply chains, and the outlook is expected to remain uncertain for the time being.」
The document continues to describe uncertainty over the outlook due to COVID-19, overseas economies, the effectiveness of policies, and impacts transmitted through supply chains. - FY2022-Q2WorsenedAnnual report
「As measures to prevent the spread of infection are implemented and vaccinations promoted, close attention must also be paid to the effectiveness of various policies, trends in the recovery of overseas economies, and impacts transmitted through supply chains, and the outlook is expected to remain uncertain for the time being.」
In addition to COVID-19, the document explicitly describes trends in the recovery of overseas economies and impacts transmitted through supply chains, broadening the factors requiring attention amid uncertainty in the external environment. No specific impact on the Company’s results is described. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, Japan’s economy continued to show signs of recovery under the impact of COVID-19, but remains in a severe condition. Although measures to prevent the spread of infection are being implemented and vaccinations promoted, close attention must be paid to the impact of infection trends on domestic and overseas economies, and the outlook is expected to remain uncertain for the time being.」
The document continues to describe signs of economic recovery amid COVID-19, while also describing the impact of infection trends on domestic and overseas economies and uncertainty over the outlook. - FY2021-Q3WorsenedAnnual report
「Infections have also been re-expanding intermittently. As the level of socioeconomic activity is gradually raised while measures to prevent the spread of infection are implemented, close attention must be paid to the impact of the infectious disease on domestic and overseas economies, and the outlook is expected to remain uncertain for the time being.」
In addition to the previous uncertainty in overseas economies and financial and capital markets, the document explicitly describes the intermittent resurgence of infections and their impact on domestic and overseas economies, indicating increased uncertainty over the outlook. - FY2021-Q2RestatedAnnual report
「During the current second-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
Existing external-environment risks, including uncertainty in overseas economies and fluctuations in financial and capital markets, are treated as involving no new developments or material changes. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter of the fiscal year, Japan’s economy continued to deteriorate rapidly under the impact of COVID-19 and remains in an extremely severe condition. Although measures to prevent the spread of infection have been implemented since around June and the level of socioeconomic activity has been raised in stages, infections continue to spread, particularly in major cities, and the outlook is expected to remain uncertain for the time being.」
In addition to the previous uncertainty in overseas economies and fluctuations in financial and capital markets, the document explicitly describes the rapid deterioration of the economy and the spread of COVID-19, indicating increased uncertainty over the outlook. - FY2020-Q3ReframedAnnual report
「Meanwhile, attention must be paid to the uncertain economic outlook resulting from developments in trade issues, the outlook for China’s economy, the UK’s withdrawal from the EU and other developments in overseas economies, and fluctuations in financial and capital markets.」
The description has changed from the previous quarter’s reference to “rising tensions over trade issues” to an organisation of risk factors comprising developments in trade issues, the UK’s withdrawal from the EU, developments in China’s and overseas economies, and fluctuations in financial and capital markets. - FY2020-Q2WorsenedAnnual report
「Meanwhile, attention must be paid to the impact of rising tensions over trade issues on the global economy, as well as to the uncertain economic outlook resulting from uncertainty over China’s economic outlook, developments and policies in overseas economies, and fluctuations in financial and capital markets.」
The wording has changed from noting trade issues and similar factors to explicitly referring to rising tensions over trade issues, while continuing to identify uncertainty in the global economy, China’s economy, overseas policies and financial and capital markets as risks. No specific impact on the Company’s results is described. - FY2020-Q1RestatedAnnual report
「Meanwhile, closer attention must be paid to the impact of developments in trade issues on the global economy, as well as to the uncertain economic outlook resulting from uncertainty over China’s economic outlook, developments and policies in overseas economies, and fluctuations in financial and capital markets.」
The document continues to describe uncertainty over the economic outlook due to trade issues, uncertainty in China’s and overseas economies, and fluctuations in financial and capital markets. - FY2019ReframedAnnual report
「Meanwhile, the economic outlook remains uncertain due to factors including the impact of developments in trade issues on the global economy, uncertainty in overseas economies, including the outlook for China’s economy, and fluctuations in financial and capital markets.」
The description has changed from references to US-China trade friction and similar factors to trade issues, the outlook for China’s economy, uncertainty in overseas economies, and fluctuations in financial and capital markets. - FY2019-Q3WorsenedAnnual report
「Meanwhile, the economic outlook remains uncertain due to factors including the impact of US-China trade friction on the global economy, uncertainty in overseas economies, and fluctuations in financial and capital markets.」
In addition to the previous uncertainty in overseas economies and fluctuations in financial and capital markets, the document explicitly describes the impact of US-China trade friction on the global economy and uncertainty over the economic outlook. No specific impact on the Company’s results is described. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan’s economy remained on a moderate recovery trend as employment and income conditions continued to improve. Meanwhile, the economic outlook remains uncertain due to factors including uncertainty in overseas economies and fluctuations in financial and capital markets.」
The document continues to describe uncertainty over the economic outlook due to uncertainty in overseas economies and fluctuations in financial and capital markets. - FY2019-Q1ReframedAnnual report
「Meanwhile, attention must be paid to the effects of uncertainty in overseas economies and fluctuations in financial and capital markets.」
The description has changed from specific factors such as US protectionist policies, yen appreciation and geopolitical risks to the effects of uncertainty in overseas economies and fluctuations in financial and capital markets. - FY2018ReframedAnnual report
「Although overseas economies, led by developed economies, are showing steady growth, the trend toward US protectionist policies and yen appreciation is causing more companies in Japan to take a cautious view of the economic outlook, raising concerns about downside risks to the economy going forward.」
The description has changed from previous factors such as China’s economy, the UK’s withdrawal from the EU and the situation surrounding North Korea to the risk of domestic economic weakness caused by US protectionist policies, yen appreciation and cautious corporate sentiment. - FY2018-Q3RestatedAnnual report
「Although geopolitical risks associated with the situation surrounding North Korea remain a concern, overseas economies, particularly those of the US and Europe, showed signs of recovery.」
The document states that geopolitical risks associated with the situation surrounding North Korea remain a concern. It also notes the recovery in overseas economies. - FY2018-Q2WorsenedAnnual report
「However, geopolitical risks, including heightened tensions surrounding North Korea and political developments in the US and Europe, remain present, and the outlook for the economy is still uncertain.」
In addition to the previous risks associated with political developments in the US and Europe and fluctuations in financial and capital markets, the document explicitly identifies geopolitical risks such as heightened tensions surrounding North Korea and continues to describe uncertainty over the economic outlook. No specific impact on results is described. - FY2018-Q1ReframedAnnual report
「Meanwhile, risks remain that political developments in the US and Europe and fluctuations in financial and capital markets may weigh on Japan’s economy.」
The description has changed from specific factors such as China’s economy, the UK’s withdrawal from the EU and the change in the US administration to the risk that political developments in the US and Europe and fluctuations in financial and capital markets may weigh on the domestic economy. - FY2017RestatedAnnual report
「However, the outlook for the economy remains uncertain, including uncertainty over US economic policies following the change in administration, substantial exchange-rate fluctuations, and the impact on the global economy of political instability in Europe resulting from the UK’s withdrawal from the EU.」
The document continues to describe uncertainty in the global economy due to the change in the US administration, exchange-rate fluctuations, the UK’s withdrawal from the EU, and political instability in Europe. - FY2017-Q3WorsenedAnnual report
「Meanwhile, the global economy remains subject to downside risks and an uncertain outlook, including the risk of substantial exchange-rate fluctuations following the inauguration of the new Trump administration advocating an “America First” policy and political instability in Europe resulting from the UK’s withdrawal from the EU.」
In addition to the previous concerns over the slowdown in China’s economy and the UK’s withdrawal from the EU, the document identifies the risk of substantial exchange-rate fluctuations under the Trump administration, political instability in Europe, and downside risks to the global economy, indicating an expansion in external-environment risk factors. No specific impact on results is described. - FY2017-Q2RestatedAnnual report
「Meanwhile, uncertainty persists over the outlook for overseas economies, including the slowdown in China’s economic growth and the UK’s withdrawal from the EU.」
The document states that uncertainty continues over overseas economies due to the slowdown in China’s economy and the UK’s withdrawal from the EU. - FY2017-Q1First statedAnnual report
「Meanwhile, uncertainty persists, including concerns over a slowdown in China’s economy, the appreciation of the yen associated with the UK’s withdrawal from the European Union (EU), and weakness in the equity markets.」
The document identifies concerns over a slowdown in China’s economy, the yen’s appreciation associated with the UK’s withdrawal from the EU, and weakness in the equity markets as external-environment risks. Although deterioration and increased uncertainty in the external environment are described as current conditions, no specific impact on the Company’s results is described.