Uncertainty over the outlook due to policy uncertainty under the new U.S. administration
First written in FY2017-Q3. 2 of 5 entries say "Dropped", first in FY2017. Latest entry: FY2018-Q3.
The whole theme swung hardest in 2018: 2 of 10 companies on the "Worse" side.
6 other companies' latest entry also says "Dropped".
- FY2018-Q3DroppedAnnual report
「During the nine-month period ended [the third quarter] of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery path amid continued improvements in corporate earnings and employment and income conditions. At the same time, attention was required regarding the impact of financial and capital market volatility, geopolitical risks and other uncertainties in overseas economies, and uncertainty about the outlook continued.」
Specific factors such as political instability in the United States and the situation on the Korean Peninsula were not explicitly mentioned in this environmental overview and were replaced with broader references to uncertainty in overseas economies and geopolitical risks. - FY2018-Q2WorsenedAnnual report
「During the six months ended, Japan’s economy showed improvement in corporate earnings and the employment environment, and the economy continued on a moderate recovery trend. However, amid concerns including political instability in the United States and the increasingly tense situation on the Korean Peninsula, the outlook remains uncertain.」
Concern became more specific, shifting from the conventional reference to U.S. policy trends to concern over political instability in the United States, while the increasingly tense situation on the Korean Peninsula emerged as a new factor of concern. - FY2018-Q1ReframedAnnual report
「During the three-month period ended [the first quarter] of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery path, supported by improvements in corporate earnings and employment conditions. However, concerns over U.S. policy developments and heightened global geopolitical risks meant that conditions remained uncertain going forward.」
The concern described in the previous fiscal year as “policy uncertainty under the new US administration” has this time been replaced with the wording “developments in US policy.” - FY2017DroppedAnnual report
「However, amid rising geopolitical risks in Europe, the Middle East and East Asia, among other regions, the outlook for the global economy as a whole remains uncertain.」
The policy uncertainty under the new US administration explicitly identified in the previous quarter was not repeated by name in the description of the economic environment for the fiscal year. - FY2017-Q3First statedAnnual report
「However, concerns over the impact of slowing economies in emerging markets and policy uncertainty under the new US administration, among other factors, have persisted, and the outlook remains uncertain.」
Policy uncertainty under the new US administration was identified for the first time as a factor contributing to uncertainty over the outlook.