Uncertainty over the Outlook Due to Yen Depreciation and the Situation in Ukraine
First written in FY2022-Q3. 1 of 9 entries say "Worsened", first in FY2023-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2025: 22 of 48 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026Focus on Middle East tensions and rising pricesAnnual report
「At the same time, the Group needs to continue monitoring the effects of rising prices resulting from factors including heightened tensions in the Middle East.」
While the previous disclosure focused on US trade policy, the current fiscal year’s disclosure identifies heightened tensions in the Middle East and rising prices as factors contributing to uncertainty in the Japanese economy. - FY2026-H1Focus on U.S. trade policyAnnual report
「Meanwhile, the situation remains uncertain due to factors including U.S. trade policy, foreign exchange trends and the effects of rising prices.」
The previous description of U.S. policy developments and other factors contributing to economic uncertainty is now stated in terms of U.S. trade policy, foreign exchange trends and rising prices. - FY2025-H1Addition of U.S. policy developmentsAnnual report
「Meanwhile, the situation remains uncertain due to factors including U.S. policy developments, developments in the Middle East, foreign exchange trends and the effects of rising prices.」
In addition to the previously stated situation in the Middle East, foreign exchange trends and rising prices, U.S. policy developments are newly identified as a factor contributing to economic uncertainty. - FY2024Addition of China's property downturn and deflationAnnual report
「The recovery has shown signs of stalling against a backdrop of the continuing property downturn and falling prices, and challenging market conditions continue.」
In addition to the previously stated situation in the Middle East, foreign exchange trends and rising prices, the continuing property downturn and falling prices in China are described as factors behind the economic stagnation. - FY2024-Q2Explicit identification of price increases exceeding wage growthAnnual report
「The situation remains uncertain due to factors including developments in the Middle East, foreign exchange trends and price increases exceeding wage growth.」
In addition to the situation in the Middle East and foreign exchange trends, price increases exceeding wage growth are explicitly identified as a factor contributing to economic uncertainty. - FY2024-Q1Addition of the situation in the Middle East and factors driving higher pricesAnnual report
「The economy has been recovering following the reclassification of COVID-19 as a Category 5 infectious disease, and personal consumption and inbound consumption have increased. However, the situation remains uncertain due to factors including developments in the Middle East, foreign exchange trends and the effects of rising prices.」
In addition to the previously stated situation in Ukraine, monetary tightening and resource prices, the situation in the Middle East, foreign exchange trends and rising prices are identified as factors contributing to economic uncertainty. - FY2023-Q3RestatedAnnual report
「Although the overseas cosmetics market has been gradually recovering, the outlook remains uncertain due to factors including developments in the situation in Ukraine, the effects of monetary tightening and trends in resource prices.」
It continues to describe uncertainty over the outlook for overseas markets due to the situation in Ukraine, monetary tightening and resource prices. - FY2023-Q1WorsenedAnnual report
「Conditions remained challenging due to surging raw material and fuel prices resulting from Russia's invasion of Ukraine, together with foreign exchange volatility caused by monetary tightening.」
In addition to the previously stated uncertainty due to yen depreciation and the situation in Ukraine, surging raw material and fuel prices and foreign exchange volatility caused by monetary tightening are identified as specific contributing factors. - FY2022-Q3First statedAnnual report
「In addition, the situation has become uncertain due to the continued depreciation of the yen and heightened tensions in Ukraine.」
The continued depreciation of the yen and heightened tensions in Ukraine are described for the first time as factors contributing to uncertainty over the economic outlook.