Uncertainty over the outlook for the domestic economy
First written in FY2017-Q1. 6 of 13 entries say "Softened", first in FY2017-Q3. Latest entry: FY2020.
Access moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 17 of 26 companies on the "Worse" side.
2 other companies' latest entry also says "Dropped".
- FY2020DroppedAnnual report
「During the fiscal year, the environment surrounding the Group was characterized by rapid growth in the IoT-related market and the 5G communications technology supporting it, against a backdrop of advances in sensing, communications, and AI-related technologies and lower costs for their use.」
The management environment section of this filing does not mention the previous descriptions of a slowdown or stagnation in the domestic economy, instead focusing on growth in technology markets. - FY2020-Q1WorsenedAnnual report
「The environment surrounding the Group during the first quarter of the current fiscal year (1 February–30 April 2019) was characterized by domestic personal consumption growing gradually, although at a slowing pace, while exports weakened as overseas economies slowed, leaving the economy as a whole broadly flat.」
Slowing personal consumption and weak exports are newly identified, while the domestic economy is described as broadly flat. - FY2019SoftenedAnnual report
「Although the economy was affected by natural disasters, a gradual recovery led by domestic demand continued overall, supported by improved personal consumption against a backdrop of better employment conditions, as well as firm corporate earnings and capital investment.」
The filing recognizes the impact of natural disasters but indicates that a gradual recovery led by domestic demand continued, supported by personal consumption, corporate earnings, and capital investment, softening the previous description of negative growth in the latest quarter. - FY2019-Q3WorsenedAnnual report
「Although the latest quarter (July–September) recorded negative growth reflecting the impact of natural disasters, improvements in personal consumption supported by better employment and income conditions and firm capital investment continued overall, and the economy remained on a gradual recovery trend led by domestic demand.」
Although improvements in employment and income conditions, personal consumption, and capital investment continued, the filing newly notes negative growth in the latest quarter due to the impact of natural disasters, indicating a temporary deterioration in the external environment surrounding the domestic economy. - FY2019-Q2RestatedAnnual report
「The domestic economy continued on a gradual recovery trend against a backdrop of firm employment and income conditions and rising exports.」
A gradual recovery trend in the domestic economy, supported by firm employment and income conditions and rising exports, is continuing. - FY2018SoftenedAnnual report
「In the domestic economy, personal consumption in the household sector recovered against a backdrop of firm employment and income conditions, while the corporate sector continued to see export growth and accelerating capital investment, among other developments. Overall, a gradual recovery led by domestic demand continued.」
Against a backdrop of improvements in employment and income conditions, personal consumption, exports, and capital investment, the wording indicating weakness in the domestic economy has softened further. - FY2018-Q3SoftenedAnnual report
「The economy continued to expand steadily, supported by firm employment and income conditions and a recovery in exports.」
Against a backdrop of firm employment and income conditions and a recovery in exports, the description of weakness in the domestic economy has softened further, moving from the previous quarter's "gradual recovery trend" to a "stable economic expansion phase." - FY2018-Q2SoftenedAnnual report
「The domestic economy continued on a gradual recovery trend against a backdrop of improving employment and income conditions.」
A gradual recovery trend supported by improving employment and income conditions is indicated, while the weakness in the household sector explicitly mentioned in the previous quarter is not included in this filing. - FY2018-Q1WorsenedAnnual report
「Although the household sector lacked strength, the corporate sector continued to improve, and the economy as a whole continued to recover at a broadly gradual pace.」
The filing indicates improvement in the corporate sector and an economic recovery, while adding that the household sector lacked strength, explicitly highlighting weakness on the household side compared with the previous description of firm economic conditions. - FY2017SoftenedAnnual report
「Although personal consumption remained weak, the economy continued to perform firmly against a backdrop of improving corporate earnings.」
Although personal consumption remained weak, the economy was described as firm against a backdrop of improving corporate earnings, further softening the wording from the previous quarter's economic standstill and essentially flat conditions. - FY2017-Q3SoftenedAnnual report
「Although personal consumption remains weak, corporate capital investment has remained firm, and the economy as a whole has continued to be broadly flat.」
Although personal consumption remains weak, firm corporate capital investment and an essentially flat overall economy are noted, softening the wording from the previous description of sluggish domestic demand, the impact of the yen's appreciation, and an economic standstill. - FY2017-Q2WorsenedAnnual report
「In the domestic economy, economic conditions remain at a standstill due to sluggish domestic demand and the impact of the yen's appreciation since the beginning of the year.」
The description of the domestic economic environment has become more specific, moving from the previous quarter's "uncertainty over the outlook" to sluggish domestic demand, the impact of the yen's appreciation, and the continued economic standstill. - FY2017-Q1First statedAnnual report
「Although a gradual recovery has continued, as evidenced by improvements in employment conditions, the outlook has become more uncertain and the economy as a whole has remained largely stagnant.」
The filing states that, although a gradual recovery in the domestic economy is continuing, uncertainty over the outlook has increased.