Improvement in Employment and Income Conditions and Resilience of Private Consumption
First written in FY2019-Q1. 14 of 23 entries say "Reframed", first in FY2019-Q2. Latest entry: FY2027-H1.
Riso Kyoiku Group 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 2020: 23 of 54 companies on the "Worse" side.
11 other companies' latest entry also says "Reframed".
- FY2027-H1ReframedAnnual report
「During the interim consolidated fiscal period, Japan's economy continued on a moderate recovery path, with signs of a recovery in private consumption and corporate capital investment against a backdrop of continued wage increases and improving employment and income conditions. Meanwhile, prolonged price increases continued to squeeze real incomes, strengthening consumers' preference for thrift and efforts to protect their livelihoods, while uncertainty over international conditions, including the situation in the Middle East, and volatility in financial and capital markets meant that the economic outlook continued to require close monitoring.」
The description changed to cite wage increases, improving employment and income conditions and a recovery in private consumption and capital investment, while also noting pressure on real incomes from higher prices, the situation in the Middle East and financial market volatility. - FY2026-H1ReframedAnnual report
「During the interim consolidated fiscal period, Japan's economy maintained a moderate recovery trend, supported by improving employment and income conditions, continued growth in inbound demand and solid private consumption. Meanwhile, rising labor costs amid increasingly severe labor shortages continued to affect companies' management, and together with higher prices, the business environment remained unpredictable.」
The description cites a recovery driven by employment and income conditions, inbound demand and private consumption, while also noting uncertainty in the business environment caused by labor shortages, rising labor costs and higher prices. - FY2025ReframedAnnual report
「During the current consolidated fiscal year, a moderate recovery is expected to continue due to improvements in employment and income conditions, the effects of various policies, and increased inbound demand. However, the outlook remains uncertain, with concerns about the impact on the economy of soaring energy prices and raw material costs, foreign exchange fluctuations and other factors.」
The description cites expectations of a recovery driven by improving employment and income conditions and inbound demand, while also noting the impact on the domestic economy of energy prices, raw material costs and exchange rate movements. - FY2025-H1ReframedAnnual report
「During the current interim consolidated fiscal year, wages rose against a backdrop of higher prices due to inflation, improving employment and income conditions. However, the outlook for the economy remains uncertain, with concerns that the lifting of the negative interest rate policy and subsequent additional policy rate hikes could affect consumption and investment.」
The description cites improving wages and employment and income conditions, while also pointing to the impact on consumption and investment of additional policy rate increases and uncertainty about the outlook. - FY2025-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, employment and income conditions improved, including through faster wage growth against a backdrop of increasingly severe labor shortages. However, real wages declined due to the impact of higher prices resulting from yen depreciation and other factors, and the economic outlook remains uncertain.」
The description changed to cite both improving employment and income conditions and declining real wages due to high prices, along with uncertainty about the economic outlook. - FY2024ReframedAnnual report
「Although the transition of COVID-19 to a Category V infectious disease has supported the normalization of domestic economic activity, including inbound demand and employment and income conditions, the outlook remains uncertain due to the impact of geopolitical risks arising from unstable international conditions, persistently high energy prices, rising personnel and logistics costs, changes in financial conditions and surging raw material prices, among other factors.」
The description changed from a challenging economic environment due to the pandemic to one that cites the normalization of domestic activity and improving employment and income conditions, while also listing multiple cost and international risks. - FY2024-Q1ReframedAnnual report
「As restrictions on activities related to COVID-19 were eased, signs of normalization finally began to emerge in social and economic activity, and some signs of an economic recovery were seen, although」
The description of the previously challenging domestic economic environment caused by COVID-19 and geopolitical risks now also cites signs of normalization and a partial recovery following the easing of activity restrictions. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan's economy showed signs of a partial recovery due to measures addressing COVID-19. However, geopolitical risks, including Russia's invasion of Ukraine and the China-Taiwan issue, continued to increase, as did economic risks such as yen depreciation associated with the Japan-US interest rate differential and sharp increases in domestic prices, leaving the outlook uncertain.」
While signs of a partial recovery are cited, geopolitical risks, yen depreciation and rising domestic prices, among other downside factors for the domestic economy, were added, and the view that the outlook remains uncertain continues. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, Japan’s economy showed some signs of recovery due to measures to address COVID-19. However, conditions continued to warrant caution regarding downside risks from the global rise in raw material prices associated with Russia’s invasion of Ukraine, volatility in financial and capital markets, supply constraints and other factors. Uncertainty remains high and the situation remains unpredictable.」
The description continues to cite signs of a partial recovery in the domestic economy, along with downside risks from raw material prices, financial markets and supply constraints and a high degree of uncertainty. - FY2023-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan’s economy showed some signs of recovery due to measures to address COVID-19. However, conditions continued to warrant caution regarding downside risks from higher raw material prices associated with Russia’s invasion of Ukraine, volatility in financial and capital markets, supply constraints and other factors. Uncertainty remains high and the situation remains unpredictable.」
The description changed to cite both signs of a partial recovery in the domestic economy resulting from infection-control measures and downside risks from raw material prices, financial markets and supply constraints. - FY2022-Q3ReframedAnnual report
「During the third quarter of the current consolidated fiscal year, Japan’s economy was on a moderate recovery trend due to a decline in infections accompanying the spread of vaccination and the effects of various policies. However, the situation remains unpredictable, including the identification of new variants, and we believe that the economic outlook will remain uncertain.」
The description changed from the previous reference to the state of emergency and a challenging economic environment to one that cites both signs of recovery driven by vaccinations and other measures and uncertainty caused by new variants. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy is expected to remain somewhat challenging, including due to uncertainty about the outlook, as the global spread of COVID-19 led to the fourth state of emergency being declared in Japan.」
Following the third state of emergency in the previous filing, the description states that a fourth state of emergency was declared in Japan. The outlook that the domestic economy will remain challenging is maintained. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy is expected to remain somewhat challenging, including due to uncertainty about the outlook, as the global spread of COVID-19 led to the third state of emergency being declared in Japan.」
The outlook states that the domestic economy is expected to remain somewhat challenging due to the spread of COVID-19 and the third state of emergency. - FY2021-Q3ReframedAnnual report
「During the third quarter of the current fiscal year, Japan's economy continued to recover moderately as employment and income conditions continued to improve. However, the outlook remained uncertain due to the impact of unstable international conditions and downside risks to the economy associated with the consumption tax increase.」
The description retains the recovery driven by improving employment and income conditions, while also citing unstable international conditions and downside risks to the economy associated with the consumption tax increase. - FY2021-Q2RestatedAnnual report
「During the second quarter of the current fiscal year, Japan's economy remained subject to an uncertain outlook as social and economic activity was heavily restricted following the spread of COVID-19, the timing of containment remained unclear despite infection-control measures in Japan and overseas, and the situation was compounded by unstable international economic conditions.」
The description of the domestic economy's previous recovery trend continues to be replaced by a description of ongoing restrictions on social and economic activity due to COVID-19 and persistent uncertainty about the outlook. - FY2021-Q1WorsenedAnnual report
「The state of emergency has now been lifted and economic activity in Japan has resumed, but we believe conditions will remain somewhat challenging, including due to uncertainty about the outlook.」
The outlook deteriorated from the previous moderate recovery trend to one in which the domestic economy is expected to remain challenging due to the impact of COVID-19. - FY2020WorsenedAnnual report
「Looking ahead, the domestic economy is expected to become increasingly challenging as a result of the global spread of COVID-19.」
In addition to the previous description of a moderate recovery trend, the outlook now states that the domestic economy is expected to deteriorate due to the global spread of COVID-19. - FY2020-Q3ReframedAnnual report
「During the third quarter of the current fiscal year, Japan's economy continued to recover moderately as employment and income conditions continued to improve. However, the outlook remained uncertain due to the impact of unstable international conditions and downside risks to the economy associated with the consumption tax increase.」
The description changed to identify improving employment and income conditions as recovery factors for the domestic economy, while also citing international conditions and downside risks to the economy associated with the consumption tax increase. - FY2020-Q2ReframedAnnual report
「During the second quarter of the current consolidated fiscal year, Japan’s economy maintained a moderate recovery trend against a backdrop of solid corporate earnings. However, the outlook remains uncertain, with concerns about the impact on personal consumption and other areas from global economic uncertainty caused by escalating US-China trade friction and the consumption tax increase.」
The description replaces employment and income conditions and other factors as drivers of the domestic economy's recovery with sound corporate performance, while identifying the impact of the consumption tax increase on private consumption as a concern. - FY2019ReframedAnnual report
「During the current fiscal year, Japan's economy continued on a moderate recovery path, as employment and income conditions improved and corporate capital investment continued to increase.」
The description of the domestic economy's recovery factors changed to cite, in addition to improving employment and income conditions, an increase in corporate capital investment. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan's economy continued on a moderate recovery path, supported by solid private consumption resulting from improved corporate earnings and employment conditions.」
The description continues to cite solid private consumption supported by improved corporate earnings and employment conditions, as well as the domestic economy's moderate recovery trend. - FY2019-Q2ReframedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy continued on a moderate recovery path, supported by solid private consumption resulting from improved corporate earnings and employment conditions.」
The description of the domestic economy's recovery factors changed from the previous quarter's reference to improving employment and income conditions to solid private consumption supported by improved corporate earnings and employment conditions. - FY2019-Q1First statedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy continued on a moderate recovery path, as private consumption remained resilient while employment and income conditions continued to improve.」
The domestic economy is described in terms of improving employment and income conditions, resilient private consumption and a moderate recovery trend as structural economic conditions.