Overseas Business Risks in China, Thailand and Vietnam
First written in FY2016. 7 of 19 entries say "Mitigated", first in FY2021-Q1. Latest entry: FY2026.
Toyo Drilube moved to the "Worse" side of this theme in 2026, 7 years after the typical company in this theme (2019).
The whole theme swung hardest in 2025: 71 of 116 companies on the "Worse" side.
23 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Ordinary income and net income attributable to owners of the parent also declined from the same period of the previous year, despite an improvement in foreign exchange gains and losses during the period, partly because of the impact of an impairment charge at a Chinese subsidiary.」
The company recorded an impairment loss of ¥64,013 thousand on its Chinese subsidiary due to declining profitability, disclosing that risks related to its overseas business had materialized as an actual loss. - FY2025RestatedAnnual report
「Going forward, if the company's affiliated companies fall into financial difficulty due to unexpected changes in local laws or regulations, adverse political or economic factors, or other developments, or if the value of local assets is impaired by exchange-rate or other factors, this may affect the company's financial position and operating results.」
For affiliated companies in China, Thailand and Vietnam, the company continues to identify the risk of financial difficulty and impairment of asset values caused by laws and regulations, political and economic factors, and exchange rates. - FY2024-Q2MitigatedAnnual report
「New-vehicle sales in Japan, the United States, China and Europe increased year on year from August onward in each country and region.」
New-vehicle sales in major regions, including China, increased year on year from August onward, indicating a relative improvement in the demand environment surrounding the overseas business from the production stoppages and weak demand through the previous fiscal year. It does not state that the overseas business risk itself has disappeared. - FY2023RestatedAnnual report
「Going forward, if the company's affiliated companies fall into financial difficulty due to unexpected changes in local laws or regulations, adverse political or economic factors, or other developments, or if the value of local assets is impaired by exchange-rate or other factors, this may affect the company's financial position and operating results.」
For affiliated companies in China, Thailand and Vietnam, the company continues to identify the risk of financial difficulty and impairment of asset values caused by laws and regulations, political and economic factors, and exchange rates. - FY2023-Q2MaterialisedAnnual report
「Operating profit declined year on year because delays in passing on increases in manufacturing costs resulting from soaring raw material and energy prices coincided with production cuts caused by the spread of COVID-19 infections in China.」
The description has changed from the recovery in China's economy reported through the previous quarter to a statement that production cuts caused by the spread of the novel coronavirus in China actually occurred and affected profits. - FY2023-Q1MitigatedAnnual report
「China's real GDP in the July-September quarter increased 3.9% year on year, due to the lifting of the Shanghai lockdown in June.」
The description has changed from the downturn in China's economy caused by the zero-COVID policy and the Shanghai lockdown through the previous fiscal year to an increase in real GDP after the lockdown was lifted, indicating that the risk in China's economic environment surrounding the overseas business has relatively weakened. It does not state that the overseas business risk itself has disappeared. - FY2022WorsenedAnnual report
「In China, the economy declined from March onward under the impact of the zero-COVID policy. If restrictions on activity are tightened in various parts of China, consumption and production are expected to remain stagnant.」
The description has changed from China's economic recovery and growth reported previously to an economic downturn caused by the zero-COVID policy and an expected stagnation in consumption and production resulting from tighter activity restrictions. - FY2022-Q3MitigatedAnnual report
「China's real GDP increased 4.8% year on year, and the pace of growth is recovering.」
The description of China's economy has changed from the slowdown in growth reported through the previous quarter to a statement that real GDP increased year on year and the pace of growth recovered. - FY2022-Q2MitigatedAnnual report
「China's real GDP increased 8.0% year on year, and strong growth well above the potential growth rate, estimated to be in the 5% range, has continued.」
The description has changed from the slowdown in China's economic growth reported through the previous quarter to a statement that China's real GDP is increasing and strong growth above the potential growth rate is continuing, indicating that the risk in China's economic environment surrounding the overseas business has relatively weakened. However, it does not state that the overseas business risk itself has disappeared. - FY2022-Q1WorsenedAnnual report
「China's real GDP growth has remained weaker than before COVID-19, with moderate growth continuing, but the pace of growth is expected to slow further.」
The description has changed from China's recovery and solid performance through the previous period to a statement that growth is weaker than before COVID-19 and the pace of growth is expected to slow further, indicating deterioration in the overseas business environment risk in China. - FY2021-Q3MitigatedAnnual report
「China's real GDP growth rate has exceeded that in the October-December 2019 quarter before the COVID crisis, and the economy is recovering from its downturn, supported by solid exports.」
Regarding China's economy, the company now describes growth exceeding the pre-COVID crisis rate and an economic recovery, compared with the slowdown and negative growth caused by the spread of infections through the previous period. The risk in the economic environment surrounding the overseas business has therefore relatively weakened. - FY2021-Q2MitigatedAnnual report
「Meanwhile, China's real GDP is approaching its pre-COVID crisis growth rate, and the economy is moving into a recovery phase ahead of other major countries.」
The description of China's economy has changed from the negative growth and slowdown caused by the novel coronavirus through the previous period to a statement that growth is approaching the pre-COVID crisis rate and the economy has moved into a recovery phase. However, slower growth or renewed negative growth is expected in the United States and Europe as infections spread again. - FY2021-Q1MitigatedAnnual report
「Looking at Asia, China's economy is recovering, with real GDP turning to year-on-year growth and fixed asset investment increasing substantially, among other developments.」
The description has changed from the slowdown and negative growth in China's economy reported through the previous period to a statement that China's real GDP has turned to year-on-year growth and the economy is recovering. However, it does not state that the overseas business risk itself has disappeared. - FY2020MaterialisedAnnual report
「In addition, in China, real GDP recorded its first contraction in quarterly statistics since 1992 in the January-March 2020 quarter due to the spread of the novel coronavirus.」
Regarding the economic environment surrounding overseas business, including China, the company states that China's quarterly contraction due to the novel coronavirus actually occurred. - FY2020-Q3MaterialisedAnnual report
「In China, real GDP recorded its first contraction in quarterly statistics since 1992 in the January-March 2020 quarter due to the spread of the novel coronavirus.」
The company states that negative growth in China's economy due to the spread of the novel coronavirus actually occurred, indicating that deterioration in the economic environment surrounding overseas business, including China, has become more pronounced. - FY2020-Q2WorsenedAnnual report
「Looking at Asia, China's economy has yet to recover despite economic stimulus measures such as substantial tax cuts, due in part to downward pressure from US-China trade friction.」
The description has changed from the previous quarter's statement that there were signs of a recovery in automobile sales and other areas although the economy continued to slow, to a statement that China's economy has yet to recover despite economic stimulus measures, indicating deterioration in the economic environment surrounding the overseas business in China. - FY2020-Q1RestatedAnnual report
「Looking at Asia, although there are signs of a recovery in China's automobile sales and other areas as a result of the government's economic measures, the economy continues to slow amid difficulties in the US-China trade talks.」
The company describes the slowdown in China's economy and difficulties in the US-China trade talks as economic conditions affecting its overseas business. It does not state that affiliated companies overseas have fallen into financial difficulty or that asset values have been impaired. - FY2017RestatedAnnual report
「Going forward, if the company's affiliated companies fall into financial difficulty due to unexpected changes in local laws or regulations, adverse political or economic factors, or other developments, or if the value of local assets is impaired by exchange-rate or other factors, this may affect the company's financial position and operating results.」
For affiliated companies in China, Thailand and Vietnam, the company continues to identify the effects of laws and regulations, political and economic factors, and exchange rates on operating performance and asset values as risks. - FY2016First statedAnnual report
「Going forward, if the company's affiliated companies fall into financial difficulty due to unexpected changes in local laws or regulations, adverse political or economic factors, or other developments, or if the value of local assets is impaired by exchange-rate or other factors, this may affect the company's financial position and operating results.」
For affiliated companies in China, Thailand and Vietnam, the company identifies financial difficulty and impairment of asset values caused by laws and regulations, political and economic factors, and exchange rates.