Slowing Economic Growth in China and Southeast Asia and Uncertainty About the Outlook
First written in FY2017-Q1. 21 of 39 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-10-15.
Moresco moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
64 other companies' latest entry also says "Worsened".
- 2026-10-15WorsenedEarnings
「While domestic demand remained sluggish in China, the U.S. economy remained firm as aggressive capital investment continued, supported by robust AI-related demand. However, if elevated crude oil prices resulting from heightened tensions in the Middle East persist, they could cause a downturn in the global economy, and the outlook remains uncertain.」
The disclosure highlights stagnant domestic demand in China and concerns that heightened tensions in the Middle East and prolonged elevated crude oil prices could cause a downturn in the global economy. - FY2027-H1RestatedAnnual report
「In the global economy, domestic demand remained sluggish in China, while the US economy remained solid as aggressive capital investment continued, driven by strong AI-related demand.」
While domestic demand remained sluggish in China, US capital investment was described as solid, reaffirming concerns about the outlook for overseas economies amid regional disparities. - 2026-07-09WorsenedEarnings
「In the global economy, China's economic slowdown also continued.」
China's economic slowdown continued. - FY2026WorsenedAnnual report
「Although global monetary easing, fiscal expansion in major countries and aggressive investment in AI are expected to have positive effects on overseas economies, uncertainty about the economic outlook is increasing due to prolonged uncertainty caused by new US government tariffs, China's economic slowdown and new geopolitical risks in the Middle East and South America.」
In addition to China's economic slowdown, new US tariff measures and geopolitical risks in the Middle East and South America have emerged as sources of uncertainty for overseas economies. - 2026-05-01WorsenedGeneral Meetings of Shareholders
「In the global economy, in addition to China's economic slowdown, the negative impact of U.S. tariff policies became apparent and acted as a drag on manufacturing activity.」
The impact of China's economic slowdown and U.S. tariff policies became apparent. - FY2026-H1WorsenedAnnual report
「In the global economy, concerns include the negative impact of US tariff policies, China's economic slowdown and higher resource prices stemming from the war in Ukraine and the unstable situation in the Middle East. The economic outlook is expected to remain uncertain.」
In addition to China's economic slowdown, US tariff policies and concerns about higher resource prices due to the war in Ukraine and the situation in the Middle East have been identified, expanding the sources of uncertainty for overseas economies. - FY2025-H1RestatedAnnual report
「In the global economy, inflationary pressures persist, while concerns about a worsening economic downturn are emerging in the US. In China, falling prices and the delayed recovery in consumption continue, and factors contributing to an uncertain outlook remain.」
The view that falling prices and the delayed recovery in consumption in China will leave continued uncertainty about the outlook has been reaffirmed. - FY2025-Q1RestatedAnnual report
「In the global economy, inflationary pressures persist, while expectations for interest-rate cuts in the US have receded. Although China's economy is on a recovery trend, falling prices and delayed recovery in consumption continue, and factors contributing to an uncertain outlook remain.」
Although China's economy is considered to be on a recovery trend, falling prices and the delayed recovery in consumption continue to signal uncertainty about the outlook for overseas economies. - FY2024WorsenedAnnual report
「Amid conditions in which real estate problems and constraints on consumption due to delayed employment recovery were weighing on the recovery in domestic demand, sales of specialty lubricants declined due to lower operating rates at Japanese automotive parts manufacturers, while sales of hot-melt adhesives declined due to lower shipments for air-purifier filter applications. As a result, external sales in this segment were ¥3,536 million, down 7.3% from the previous fiscal year, and segment profit was ¥118 million, down 62.1%.」
In China, real estate problems, delayed employment recovery and lower customer operating rates emerged as deterioration in demand and performance, reducing sales and segment profit. - FY2024-Q3WorsenedAnnual report
「In the global economy, inflation is moderating, while the effects of tightening are emerging in the US economy. In China, uncertainty about the outlook was evident due to real estate problems and the fading impact of economic stimulus measures.」
In China, real estate problems and the fading impact of economic stimulus measures have made uncertainty about the outlook explicit, increasing uncertainty in the economic environment, including key overseas regions. - FY2024-Q2RestatedAnnual report
「Uncertainty was also evident regarding China's real estate problems and the outlook for the economy.」
China's real estate problems and uncertainty about the economic outlook have again been confirmed as sources of uncertainty for the Chinese economy, continuing from the previous quarter. - FY2024-Q1WorsenedAnnual report
「Although the economy is on a recovery trend following the lifting of the zero-COVID policy, delayed employment recovery and sluggish real estate sales are weighing on the recovery in domestic demand. Under these conditions, sales of specialty lubricants declined due to lower operating rates at Japanese automotive parts manufacturers, while sales of hot-melt adhesives declined due to lower shipments for air-purifier filter applications. As a result, external sales in this segment were ¥670 million, down 21.5% year on year, and segment profit was ¥28 million, down 40.8% year on year.」
In China, delayed employment recovery and sluggish real estate sales continued to constrain the recovery in domestic demand after the zero-COVID policy was lifted, resulting in lower sales of specialty lubricants and hot-melt adhesives and a 40.8% decline in segment profit. - FY2023WorsenedAnnual report
「In China, strict activity restrictions under the zero-COVID policy and the disruption caused by the rapid spread of infections after the policy ended weighed on the economy.」
In China, activity restrictions during the zero-COVID policy and the rapid spread of infections after its end emerged as factors weighing on the economy during the fiscal year. - FY2023-Q3WorsenedAnnual report
「② China: Sales of specialty lubricants increased due to sales price adjustments and the weaker yen. Sales of hot-melt adhesives declined due in part to a pause in demand for air-purifier filter applications. As a result, external sales in this segment were ¥2,813 million, up 7.7% year on year, while segment profit was ¥205 million, down 37.3% year on year, due to the impact of higher raw material prices and other factors.」
In China, demand for air-purifier filter applications paused, resulting in lower sales of hot-melt adhesives. Segment sales increased due to sales price adjustments and the weaker yen, but profit declined 37.3% year on year due to higher raw material prices and other factors. - FY2023-Q2WorsenedAnnual report
「Automotive production was below the prior-year period amid parts supply constraints and activity restrictions under China's zero-COVID policy. Although volumes of specialty lubricants declined, sales increased due to sales price adjustments and the weaker yen. Sales of hot-melt adhesives declined due in part to a pause in demand for air-purifier filter applications.」
In China, automotive production fell below the prior-year period due to parts supply constraints and activity restrictions under the zero-COVID policy, while sales of hot-melt adhesives declined as demand for air-purifier filter applications paused. - FY2023-Q1WorsenedAnnual report
「Amid sluggish customer plant operations due to activity restrictions under China's zero-COVID policy, sales of specialty lubricants were broadly in line with the prior-year period. Sales of hot-melt adhesives declined as demand for air-purifier filter applications paused.」
In China, activity restrictions under the zero-COVID policy reduced operating rates at customer plants, while a pause in demand for air-purifier filter applications also contributed to lower sales of hot-melt adhesives. - FY2022MitigatedAnnual report
「Although this region lagged other regions in economic recovery, increased automotive production led to higher sales of specialty lubricants such as die-casting lubricants.」
Although China and Southeast/South Asia are recovering more slowly than other regions, increased automotive production and higher sales of specialty lubricants were reported, partially easing previous concerns about a slowdown. - FY2022-Q3WorsenedAnnual report
「Although overseas economies are generally on a recovery trend, it remains difficult to assess the outlook due to factors including the shift in US monetary policy toward tightening and concerns about an economic slowdown stemming from debt and energy issues in China.」
The overseas economy remains on a recovery trend overall, while the shift in US monetary policy toward tightening and concerns about an economic slowdown stemming from China's debt and energy issues have emerged as new sources of uncertainty. - FY2022-Q2WorsenedAnnual report
「Overseas, economic activity is gradually normalising in developed countries, following China. Meanwhile, in Southeast Asian countries where vaccine rollouts have lagged, the inability to contain the spread of COVID-19 has constrained economic activity and has also contributed to global supply chain disruptions.」
While economic normalisation is progressing in China and developed countries, delayed vaccine rollouts and the spread of infections in Southeast Asia have constrained economic activity and contributed to supply chain disruptions. Recovery gaps between regions and uncertainty are increasing. - FY2022-Q1MitigatedAnnual report
「In China, which was the first to restore economic activity, automotive production remained above the level recorded two years earlier. Although the recovery was slower than in other regions where our Group operates, the economy remained on a recovery trend. In the automotive-related industries, customers began increasing inventories in preparation for a full-scale recovery ahead.」
Automotive production in China exceeded the level recorded two years earlier, while Southeast and South Asia were also on a recovery trend, partially easing previous concerns about a slowdown in regional economies. However, the recovery in Southeast and South Asia was weaker than in other regions. - FY2021MitigatedAnnual report
「In China, the post-pandemic market recovery has been remarkable, and solid economic growth is expected from 2021 onward. Against this backdrop, we will pursue further growth by reorganising our companies in China and centralising the management of our development and administrative functions, thereby promoting a rapid business expansion that addresses local needs.」
The assessment has shifted to reflect the remarkable post-pandemic market recovery in China and expectations for solid economic growth from 2021 onward. - FY2021-Q3MitigatedAnnual report
「Although results have remained above the prior-year period from the second quarter onward, sales of specialty lubricants such as die-casting lubricants declined cumulatively due to the impact of the economic lockdown in the first quarter.」
In China, results turned positive year on year from the second quarter onward, while cumulative sales of specialty lubricants declined due to the impact of the economic lockdown in the first quarter. - FY2021-Q2MitigatedAnnual report
「Automobile production, which had slowed sharply in the first quarter (January–March), began to recover from April, but remained 16.8% below the same period of the previous year in the first half (January–June).」
Chinese automobile production began to recover from the sharp slowdown in the first quarter from April onward, and the decline narrowed to 16.8% year on year, but production nevertheless remained below the previous year's level. - FY2021-Q1MaterialisedAnnual report
「During this period, automobile production in that country fell 45.1% from the same period of the previous year, an unprecedented decline in scale.」
Risks of an economic and demand slowdown in China are materializing as a deterioration in the demand environment, with automobile production down 45.1% year on year. - FY2020WorsenedAnnual report
「In the automobile industry, the principal demand sector, production has declined not only in Japan, China and the United States, but also in Southeast Asia and India, which had previously remained firm.」
Declines in automobile production are noted across major regions, including China, Southeast Asia and India, indicating that the previous concern over a slowdown in overseas economies has broadened into a deterioration in the demand environment. - FY2020-Q3WorsenedAnnual report
「Japan's economy lacks strength despite domestic automobile production remaining at approximately the previous year's level, due to sluggish domestic demand. Downside risks to the global economy are also increasing because of escalating US-China trade friction, and the slowdown in the Chinese economy is affecting the earnings of Japanese companies.」
The slowdown in the Chinese economy and US-China trade friction are described as affecting not only downside risks to the global economy but also the earnings of Japanese companies. - FY2020-Q2RestatedAnnual report
「In the global economy, escalating US-China trade friction has led to slower growth in the Chinese economy and had various effects on the global economy.」
The escalation of US-China trade friction, slower growth in the Chinese economy and their impact on the global economy continue to be noted, as in the previous quarter. - FY2020-Q1WorsenedAnnual report
「In the global economy, escalating US-China trade friction has led to slower growth in the Chinese economy and had various effects on global trade.」
The escalation of US-China trade friction is materializing as slower growth in the Chinese economy and effects on global trade. - FY2019WorsenedAnnual report
「During the fiscal year under review, Japan's economy continued to recover moderately, and the period of economic expansion is believed to have been the longest in the postwar period. However, exports slowed in the fourth quarter as overseas economies weakened, beginning to adversely affect corporate production activity. Overseas, the slowdown in China's economy was becoming more pronounced, raising concerns about its impact on the global economy.」
Weakness in overseas economies and the trend toward a slowdown in China's economy are materializing as slower exports and adverse effects on corporate production activity. - FY2019-Q3WorsenedAnnual report
「Overseas economies are becoming increasingly unstable due to factors including the US-China trade war and capital outflows from emerging markets caused by US interest-rate hikes, raising concerns over an economic slowdown ahead.」
The US-China trade war and capital outflows from emerging markets caused by US interest-rate hikes have added to concerns over instability in overseas economies and an economic slowdown ahead. - FY2019-Q2WorsenedAnnual report
「Overseas economies generally remained resilient, but the global economy is becoming increasingly unstable due to escalating US-China trade friction.」
While overseas economies remain resilient, the escalation of US-China trade friction is explicitly identified as a factor destabilizing the global economy, increasing downside risks. - FY2019-Q1RestatedAnnual report
「Overseas economies generally remained resilient, but the global economy is becoming increasingly unstable due to the rise of protectionist trade policies in the United States.」
While overseas economies are generally described as resilient, the assessment identifies factors contributing to instability in the global economy. - FY2018-Q3RestatedAnnual report
「Against a backdrop of a global economic recovery, the economies of China, Southeast Asia and the United States, the regions where the Group operates, generally remained firm.」
The previous quarter's assessment that the economies of China, Southeast Asia and the United States generally remained firm is maintained. - FY2018-Q2MitigatedAnnual report
「Against a backdrop of a global economic recovery, the economies of China, Southeast Asia and the United States, where the Group operates, generally remained firm.」
The economies of China, Southeast Asia and the United States are generally described as firm, temporarily easing the concern over a slowdown in China's outlook noted in the previous quarter. - FY2018-Q1WorsenedAnnual report
「In China, the real GDP growth rate is rising moderately, supported by fiscal measures such as government consumption and infrastructure investment, although concerns remain over a slowdown in the outlook. Meanwhile, Southeast Asian economies generally remained on a recovery trend due to the recovery in exports and domestic demand.」
Southeast Asia recovered on the strength of exports and domestic demand, while in China, concerns over a slowdown in the outlook were explicitly noted even as the growth rate rose, resulting in divergent outlooks by region. - FY2017MitigatedAnnual report
「Regarding overseas economies, the US economy continued to expand, albeit moderately, while manufacturing in China showed signs of recovery due to the spillover effects of tax measures for small cars and other factors. In Southeast Asia, the economy remained resilient against a backdrop of low inflation and accommodative monetary policies by central banks in the region.」
Manufacturing in China is described as being on a recovery trend due to the spillover effects of tax measures, while the Southeast Asian economy remained resilient, partially easing the previous concern over slowing growth. - FY2017-Q3MitigatedAnnual report
「Regarding overseas economies, the US economy continued to expand, albeit moderately, while manufacturing in China was beginning to recover due to the spillover effects of tax measures for small cars and other factors.」
The description of the Chinese economy now states that manufacturing is beginning to recover due to the effects of tax measures for small cars, partially easing the previous concern over a slowdown. - FY2017-Q2RestatedAnnual report
「Regarding overseas economies, the US economy continued to expand, albeit moderately, while uncertainty remained over the outlook due to the slowing Chinese economy and issues including the UK's withdrawal from the EU.」
The slowdown in the Chinese economy and uncertainty surrounding the outlook for overseas economies continue to be noted. The UK's EU withdrawal issue has been separated as a new risk. - FY2017-Q1First statedAnnual report
「Meanwhile, the global economy remains uncertain, with the US continuing to achieve solid economic growth while growth rates in China and Southeast Asia slow.」
In contrast to the resilience of the US economy, slowing growth in China and Southeast Asia and uncertainty surrounding the global economy are identified as risks.