Global Economic Risks from Russia’s Invasion of Ukraine
First written in FY2022-Q3. 3 of 9 entries say "Materialised", first in FY2022. Latest entry: 2026-09-03.
Toyo Drilube moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2022: 45 of 78 companies on the "Worse" side.
32 other companies' latest entry also says "Restated".
- FY2026-H1MaterialisedAnnual report
「During the interim consolidated accounting period from 1 July 2025 to 31 December 2025, the business environment surrounding the Group was characterized by the impact of U.S. trade policy on the automotive industry, a pause in the improvement of corporate earnings and flat business sentiment.」
The disclosure states that the impact of U.S. trade policy has emerged in the automotive industry, the improvement in corporate earnings has stalled and business sentiment has flattened. Global economic risks from U.S. tariff policy and other factors have become more specific in the form of an impact on the automotive industry. - FY2025WorsenedAnnual report
「The outlook for the global economy is expected to remain uncertain, due to geopolitical risks including conflicts in Ukraine and the Middle East, as well as the impact of U.S. tariff policy.」
In addition to the geopolitical risks posed by the existing conflicts in Ukraine and the Middle East, the disclosure explicitly identifies U.S. tariff policy as a source of uncertainty, broadening the scope of the risks. - FY2024WorsenedAnnual report
「The outlook for the global economy is expected to remain uncertain, due to geopolitical risks including conflicts in Ukraine and the Middle East, as well as sharp fluctuations in foreign exchange rates.」
In addition to the existing situation in Ukraine, the disclosure explicitly identifies the conflict in the Middle East as a geopolitical risk, broadening the range of factors contributing to uncertainty in the global economy. - FY2023MaterialisedAnnual report
「The outlook for the global economy is expected to remain uncertain, due to factors including the prolonged situation in Ukraine and sharp fluctuations in foreign exchange rates.」
The prolonged situation in Ukraine remains a source of uncertainty for the global economy, and sharp foreign exchange movements are also cited. - FY2022MaterialisedAnnual report
「The outlook for the global economy remains highly uncertain, due to factors including the impact of COVID-19 and soaring resource prices resulting from the situation in Ukraine.」
The previous disclosure described Russia’s invasion of Ukraine as a new global economic risk, while this time its impact has become more specific, in the form of soaring resource prices resulting from the situation in Ukraine and heightened uncertainty over the outlook. - FY2022-Q3First statedAnnual report
「Russia’s invasion of Ukraine, which began on 24 February, has become a new risk to the global economy.」
This is the first explicit identification of Russia’s invasion of Ukraine as a new risk to the global economy. Although the invasion itself is mentioned, this filing does not describe any specific impact on the Group.