Slowing Growth in Emerging-Market Economies, an Unstable International Situation, and Yen Appreciation and Stock Market Declines
First written in FY2017-Q1. 15 of 29 entries say "Restated". Latest entry: FY2027-H1.
Kyoshin moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 125 of 168 companies on the "Worse" side.
66 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「During the interim consolidated accounting period, Japan's economy remained on a gradual recovery track against a backdrop of improving employment and income conditions. However, conditions remained uncertain, owing to sluggish personal consumption amid high prices and the effects of an unstable international situation.」
The disclosure reconfirms a gradual recovery driven by employment and income conditions, as well as uncertainty over the outlook owing to sluggish consumption caused by high prices and the unstable international situation. - FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period, Japan’s economy was gradually recovering due to improvements in employment and income conditions. However, uncertainty surrounding the economy and prices remained high, including as a result of the impact of trade policies in various countries, and conditions remained uncertain.」
While indicating a moderate recovery trend supported by employment and income conditions, the statement identifies uncertainty surrounding the economy and prices resulting from trade policies in various countries, in addition to the existing discussion of the international situation and rising prices. - FY2025ReframedAnnual report
「During the fiscal year, Japan’s economy maintained a moderate recovery trend against the backdrop of a recovery in inbound demand and improvements in employment and income conditions. However, conditions remained uncertain due to sluggish personal consumption resulting from higher prices and the continuing instability of the international situation.」
While indicating a recovery trend supported by inbound demand and improvements in employment and income conditions, the statement identifies sluggish consumption resulting from higher prices and the instability of the international situation as new sources of uncertainty. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, Japan’s economy remained uncertain due to factors including surging resource and raw-material prices resulting from the unstable international situation and the weaker yen, as well as rapid price increases in Japan.」
The statement reconfirms uncertainty over the outlook arising from the unstable international situation, the weaker yen, surging resource and raw-material prices, and rising prices. - FY2024-Q3RestatedAnnual report
「During the nine months ended [the third quarter of] the current fiscal year, Japan’s economy showed signs of recovery as economic activity returned to normal following the downgrading of COVID-19 to Category 5 under the Infectious Diseases Control Law in May 2023 and the end of border-control measures, including entry restrictions. However, conditions remained uncertain due to the prolonged situation in Ukraine, surging resource and raw-material prices resulting from the weaker yen, and rapid price increases in Japan.」
While indicating that economic activity was returning to normal and the economy was recovering as infectious-disease and border-control measures were eased, the statement reconfirms uncertainty over the outlook arising from the situation in Ukraine, the weaker yen, surging resource and raw-material prices, and rising prices. - FY2024-Q2RestatedAnnual report
「During the six months ended [the second quarter of] the current fiscal year, Japan’s economy showed signs of recovery as economic activity returned to normal following the downgrading of COVID-19 to Category 5 under the Infectious Diseases Control Law in May 2023 and the end of border-control measures, including entry restrictions. However, conditions remained uncertain due to the prolonged situation in Ukraine, surging resource and raw-material prices resulting from the weaker yen, and rapid price increases in Japan.」
While indicating that the economy was returning to normal as infectious-disease and border-control measures were eased, the statement reconfirms uncertainty arising from the situation in Ukraine, the weaker yen, surging resource and raw-material prices, and rising prices. - FY2024-Q1ReframedAnnual report
「During the three months ended [the first quarter of] the current fiscal year, Japan’s economy showed signs of recovery as economic activity returned to normal following the downgrading of COVID-19 to Category 5 under the Infectious Diseases Control Law in May 2023 and the end of border-control measures, including entry restrictions. However, conditions remained uncertain due to the prolonged situation in Ukraine, surging resource and raw-material prices resulting from the weaker yen, and rapid price increases in Japan.」
While indicating that economic constraints resulting from the infectious disease and border-control measures had eased and that the economy was recovering, the statement also cites uncertainty arising from the situation in Ukraine, the weaker yen, surging resource and raw-material prices, and rising prices. It adds the normalisation phase to the existing explanation of international-situation risks. - FY2023ReframedAnnual report
「During the fiscal year, Japan’s economy showed signs of recovery as economic activity returned to normal through the easing of restrictions on personal activity and border-control measures related to the spread of COVID-19. However, conditions remained uncertain due to the prolonged situation in Ukraine, surging resource and raw-material prices resulting from the weaker yen, and rapid price increases in Japan.」
While indicating that the economy was recovering as restrictions on personal activity and border-control measures were eased, the statement continues to describe uncertainty arising from the situation in Ukraine, the weaker yen, surging resource and raw-material prices, and rising prices. - FY2023-Q3ReframedAnnual report
「During the nine months ended [the third quarter of] the current fiscal year, Japan’s economy showed signs of recovery as the rollout of COVID-19 vaccinations progressed and economic activity returned to normal through the easing of restrictions on personal activity and border-control measures. However, conditions remained uncertain due to the prolonged situation in Ukraine, surging resource and raw-material prices resulting from the weaker yen, and rapid price increases in Japan.」
While indicating that economic activity was returning to normal and the economy was recovering as vaccinations progressed and restrictions on personal activity and border-control measures were eased, the statement describes uncertainty over the outlook resulting from the situation in Ukraine, the weaker yen, surging resource and raw-material prices, and rapid price increases. - FY2023-Q2ReframedAnnual report
「During the six months ended [the second quarter of] the current fiscal year, Japan’s economy was gradually improving as economic activity returned to normal. However, the impact of COVID-19 continued, while the outlook for the economy remained uncertain due to surging energy resource prices against the backdrop of the prolonged situation in Ukraine and the weaker yen, as well as declining consumer appetite resulting from higher prices.」
While indicating the normalisation of economic activity and moderate improvement, the statement identifies the infectious disease, the situation in Ukraine, the weaker yen, surging energy prices and weaker consumer appetite resulting from higher prices as new sources of uncertainty. - FY2023-Q1ReframedAnnual report
「During the three months ended [the first quarter of] the current fiscal year, Japan’s economy was gradually returning to normal as restrictions on personal activity related to COVID-19 were eased, and was on a moderate recovery trend. However, the outlook for the economy remained uncertain due to the renewed spread of COVID-19 caused by new variants, as well as surging energy prices resulting from Russia’s invasion of Ukraine.」
The statement indicates that economic activity was returning to normal and showing signs of recovery as restrictions on personal activity were eased, while explicitly identifying the renewed spread of new variants and surging energy prices resulting from the invasion of Ukraine as factors contributing to uncertainty over the outlook. - FY2022-Q3ReframedAnnual report
「However, in January 2022, the spread of the highly contagious Omicron variant led to the reapplication of priority preventive measures, resulting in renewed restrictions on economic activity. In addition, the outlook remained uncertain due to factors including heightened tensions surrounding the situation in Ukraine.」
In addition to the existing uncertainty arising from the infectious disease and the international situation, the statement identifies renewed restrictions on economic activity due to the Omicron variant and heightened tensions surrounding the situation in Ukraine as new sources of uncertainty. - FY2022-Q2ReframedAnnual report
「During the six months ended [the second quarter of] the current fiscal year, Japan’s economy was seeing increasing movement toward the normalisation of consumption activity as restrictions on personal activity were eased through the wider rollout of vaccinations and the lifting of the state of emergency, although the impact of the spread of COVID-19 continued for an extended period.」
While continuing to cite the economic stagnation and uncertainty caused by the infectious disease as background factors, the statement newly describes the easing of restrictions on personal activity through vaccinations and the lifting of the state of emergency, as well as movement toward the normalisation of consumption activity. - FY2021-Q3RestatedAnnual report
「During the nine months ended [the third quarter of] the current fiscal year, Japan’s economy was affected by stagnating economic activity resulting from the spread of COVID-19. Economic sentiment deteriorated, and conditions remained uncertain. After the state of emergency was lifted, economic activity resumed gradually, and signs of recovery emerged, supported in part by various government economic measures. However, concerns remained about the negative impact on personal consumption amid uncertainty over the outlook resulting from the renewed spread of infections, and conditions continued to require close monitoring.」
The statement describes stagnating economic activity and deteriorating economic sentiment, while also indicating signs of recovery as the economy reopened. It continues to note concerns about the impact of the renewed spread of infections on personal consumption. - FY2021-Q1WorsenedAnnual report
「During the first quarter cumulative consolidated period, economic activity was significantly restricted by the spread of COVID-19, corporate earnings declined, and employment conditions deteriorated. Japan's challenging economic conditions have continued to the present. Even if the economy moves toward normalization, the outlook is expected to become uncertain again if infections spread again.」
In addition to the previously identified uncertainty due to international conditions and other factors, the discussion specifically covers restrictions on economic activity caused by COVID-19, declining corporate earnings, deteriorating employment conditions, and uncertainty in the event of a renewed spread of infections. - FY2020ReframedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve. However, in addition to concerns about the outlook for overseas economies, including the prolonged US-China trade dispute, the global spread of COVID-19 in the latter half of the consolidated fiscal year had a significant impact on economies in Japan and overseas, leaving the outlook uncertain.」
While maintaining the assessment of a gradual recovery, the US-China trade dispute and the global spread of COVID-19 are specifically identified as new sources of uncertainty. - FY2020-Q3ReframedAnnual report
「During the third quarter cumulative period, Japan's economy continued to recover gradually due to recovering corporate performance and improvements in employment and income conditions. However, the outlook remained uncertain due to the risk of stagnation in the global economy and the impact in Japan of the October 2019 consumption tax increase.」
In addition to the uncertainty caused by previously identified unstable international conditions, the risks of stagnation in the global economy and the impact of the October 2019 consumption tax increase are specifically identified as factors behind the uncertain economic outlook. - FY2020-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve, although the outlook remained uncertain due to the impact of unstable international conditions.」
The discussion restates improvements in employment and income conditions, a gradual recovery trend, and an uncertain outlook due to unstable international conditions. - FY2020-Q1RestatedAnnual report
「During the first quarter cumulative consolidated period, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve, although the outlook remained uncertain due to the impact of unstable international conditions.」
While acknowledging improvements in employment and income conditions and a gradual economic recovery, the discussion restates the uncertain outlook due to unstable international conditions. - FY2019RestatedAnnual report
「During the consolidated fiscal year, Japan's economy entered a gradual recovery phase, with corporate earnings improving against a backdrop of solid employment and income conditions. However, the outlook remained uncertain due to factors including uncertainty in the global economy arising from risks associated with international conditions.」
While acknowledging a gradual economic recovery, the discussion restates uncertainty in the global economy and the uncertain outlook due to international conditions. - FY2019-Q3RestatedAnnual report
「During the third quarter cumulative consolidated period, Japan's economy was said to be on a gradual recovery track due to improvements in employment and income conditions, although the outlook remained uncertain due to the impact of unstable international conditions.」
The discussion restates a gradual recovery driven by improvements in employment and income conditions, together with an uncertain outlook due to unstable international conditions. - FY2019-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve, although the outlook remained uncertain due to the impact of unstable international conditions.」
While acknowledging improvements in employment and income conditions and a gradual recovery, the discussion restates the uncertain outlook due to unstable international conditions. - FY2019-Q1RestatedAnnual report
「During the first quarter cumulative consolidated period, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve, although the outlook remained uncertain due to the impact of unstable international conditions.」
While acknowledging improvements in employment and income conditions and a gradual recovery, the discussion restates the uncertain outlook due to unstable international conditions. - FY2018-Q3RestatedAnnual report
「During the third quarter cumulative consolidated period, Japan's economy was on a gradual recovery track, with corporate performance recovering and employment and income conditions showing improvement. However, the outlook remained uncertain due to the impact of unstable international conditions.」
The discussion restates a gradual recovery driven by improvements in corporate performance, employment, and income conditions, together with an uncertain outlook due to unstable international conditions. - FY2018-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve, although the outlook remained uncertain due to the impact of unstable international conditions.」
The discussion continues to cover a gradual economic recovery and an uncertain outlook due to unstable international conditions. - FY2018-Q1RestatedAnnual report
「During the first quarter cumulative consolidated period, Japan's economy remained on a gradual recovery track as employment and income conditions continued to improve, although the outlook remained uncertain due to the impact of unstable international conditions.」
While the economy is described as being on a gradual recovery track, the uncertain outlook due to unstable international conditions continues to be noted. - FY2017ReframedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery track as employment and income conditions improved alongside increased public investment and recovering corporate earnings. However, in terms of personal consumption, concerns over sluggish growth in real wages and rising prices increased, and the outlook remained uncertain.」
The description shifted from the previous quarter's focus on unstable foreign exchange rates and stock prices and stagnation to a full-year assessment of a gradual economic recovery and an uncertain outlook surrounding personal consumption and prices. - FY2017-Q2RestatedAnnual report
「During the second quarter cumulative consolidated period, Japan's economic environment remained uncertain, as unstable movements in foreign exchange rates and stock prices caused corporate earnings and personal consumption to stagnate.」
The discussion covers unstable movements in foreign exchange rates and stock prices, stagnant corporate earnings and personal consumption, and an uncertain economic outlook. - FY2017-Q1First statedAnnual report
「Although employment and income conditions have remained firm, the yen has strengthened and stock prices have fallen due to concerns such as slowing emerging-market economies and unstable international conditions. The economy has also remained stagnant due to deteriorating corporate earnings and sluggish personal consumption.」
Emerging-market economies, international conditions, the foreign exchange and stock markets, corporate earnings, and personal consumption are identified as concerns affecting the economy.