Domestic Economic Slowdown and Sluggish Automobile and Steel Production
First written in FY2017-Q1. 16 of 34 entries say "Worsened", first in FY2017-Q2. Latest entry: FY2027-H1.
Moresco moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2019: 36 of 67 companies on the "Worse" side.
0 other companies' latest entry also says "Softened".
- FY2027-H1SoftenedAnnual report
「During the current interim consolidated accounting period, the Japanese economy remained firm. Corporate earnings were supported by progress in passing through higher prices despite the impact of inflation resulting from the situation in the Middle East, while exports and capital investment remained solid.」
Although inflation resulting from the situation in the Middle East persisted, the domestic economy remained firm on the back of price pass-through, exports and capital investment, easing some of the previous concerns over weakness in domestic economic conditions and production. - 2026-07-09WorsenedEarnings
「During the consolidated accounting period for the quarter, the Japanese economy was affected by turmoil in the Middle East following the U.S. use of military force against Iran, resulting in higher crude oil prices and difficulty procuring crude-derived raw materials such as naphtha, which constrained activity across a broad range of manufacturing industries, including automobiles.」
The turmoil in the Middle East led to higher crude oil prices and difficulty procuring raw materials, placing new constraints on manufacturing activity. - FY2026WorsenedAnnual report
「Although moderate economic growth is expected to continue in the domestic economy, with increased IT investment and stronger government measures to promote growth also anticipated, concerns remain over the continuing severe labor shortage, higher interest rates, and the impact of sharp fluctuations in foreign exchange rates and crude oil prices, among other factors.」
While indicating expectations for moderate growth, the description newly identifies labor shortages, higher interest rates, and sharp fluctuations in foreign exchange rates and crude oil prices as concerns in the domestic business environment. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period under review, the Japanese economy remained stable as uncertainty eased following the conclusion of tariff negotiations with the United States. However, higher US tariffs put pressure on manufacturing corporate earnings.」
The domestic economy is described as stable, while higher US tariffs are identified as a new deterioration factor putting pressure on manufacturing corporate earnings. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period under review, the Japanese economy remained on a moderate recovery trend as efforts toward the normalization of economic activity progressed, but prices remained elevated and exchange rates fluctuated significantly due to differences in the monetary policy stances of Japan and the United States.」
The domestic economy is again described as being on a moderate recovery trend, while elevated prices and significant exchange-rate fluctuations due to differences in Japanese and US monetary policy remain concerns. - FY2025-Q1SoftenedAnnual report
「During the cumulative first quarter under review, the Japanese economy remained on a moderate recovery trend as efforts toward the normalization of economic activity progressed, although prices remained elevated and the yen continued to weaken.」
While elevated prices and the trend toward yen depreciation remain risk factors, the normalization of economic activity and a moderate recovery trend are noted, improving the description from the previous pause in the recovery. - FY2024-Q3WorsenedAnnual report
「During the cumulative third quarter under review, the Japanese economy saw a pause in its recovery as personal consumption struggled to grow due to rising prices and the slowdown in overseas economies created headwinds for exports, amid continued economic normalization.」
While the domestic economy continues to normalize, sluggish personal consumption due to rising prices and headwinds for exports from the slowdown in overseas economies are noted, changing the assessment to one of a pause in the recovery's momentum. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, the Japanese economy saw personal consumption expand moderately as the economy normalized, despite rising prices.」
The domestic economy continues to normalize and personal consumption is expanding moderately, while rising prices are also noted, reaffirming the recovery trend from the previous period. - FY2023SoftenedAnnual report
「During the fiscal year under review, the Japanese economy remained on a recovery trend, supported by the recovery in personal consumption and other factors.」
The domestic economy is described as being on a recovery trend due to the recovery in personal consumption, an improvement from the previous quarter's description centered on downward pressure from supply constraints and rising prices. However, lower production by major customers remains. - FY2023-Q3SoftenedAnnual report
「During the cumulative third quarter under review, the Japanese economy remained on a recovery trend, supported by the recovery in personal consumption and other factors.」
The description of the domestic economy has improved from the previous quarter's conditions of downward pressure from rising prices and supply constraints to a recovery trend supported by the recovery in personal consumption and other factors. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the Japanese economy remained on a recovery trend as personal consumption recovered with the easing of various restrictions on activities, despite upward pressure from rising prices and supply constraints.」
In the domestic economy, personal consumption is on a recovery trend, while rising prices and supply constraints continue to exert downward pressure. In the domestic segment, profit declined 74.3% year on year due to lower automobile production and higher raw material prices. - FY2023-Q1WorsenedAnnual report
「Specialty lubricants remained at approximately the same level as the same period of the previous year, as demand recovery for high-vacuum pump oil and new sales expansion for cutting fluids offset the decline in die-casting lubricant revenue caused by lower domestic automobile production. As a result, segment revenue was ¥5,069 million, up 1.0% year on year, but segment profit was ¥104 million, down 68.1% year on year, due to the impact of higher raw material prices.」
Revenue from die-casting lubricants declined due to lower domestic automobile production, while higher raw material prices also contributed to a 68.1% year-on-year decline in Japan segment profit. - FY2022WorsenedAnnual report
「Supply constraints, including shortages of semiconductor components, acted as a constraint, causing domestic automobile production to slow from August onward and fall below the previous period for the full year.」
Supply constraints, including shortages of semiconductors, caused domestic automobile production to slow from August onward and fall below the previous period for the full year. - FY2022-Q3WorsenedAnnual report
「Domestic automobile production remained at approximately the same level as the previous year because shortages of semiconductor supplies acted as a constraint and production shifted to a year-on-year decline from August onward.」
Due to shortages of semiconductor supplies, domestic automobile production shifted to a year-on-year decline from August onward, limiting the recovery to approximately the same level as the previous year. - FY2022-Q1MitigatedAnnual report
「Domestic automobile production trended toward recovery, although shortages of semiconductor supplies remained a constraint.」
While shortages of semiconductor supplies remain a constraint, domestic automobile production has shifted to a recovery trend. - FY2021WorsenedAnnual report
「With automobile production running 16.7% below the previous period, sales in this division, which is closely linked to automobile and crude steel production, declined.」
Domestic automobile production declined 16.7% from the previous period, with the impact appearing as lower sales in the specialty lubricants division, which has strong links to automobile production. - FY2021-Q3MitigatedAnnual report
「Although production has recently been trending toward recovery, sales of specialty lubricants such as die-casting lubricants declined while automobile production ran 20.0% below the same period of the previous year.」
Domestic automobile production remained 20.0% below the same period of the previous year, while it was described as having recently been trending toward recovery, indicating that the decline narrowed from 30.5% in the previous quarter. - FY2021-Q2WorsenedAnnual report
「With automobile production in the first half (March–August) running 30.5% below the same period of the previous year, sales of specialty lubricants such as die-casting lubricants declined. As a result, segment revenue was ¥8,475 million, down 17.9% year on year, and the segment posted a loss of ¥8 million, compared with segment profit of ¥486 million in the same period of the previous year.」
Domestic automobile production declined 30.5% year on year, and the Japan segment deteriorated from profit in the same period of the previous year to a loss of ¥8 million, with revenue also declining. - FY2021-Q1MaterialisedAnnual report
「The suspension of operations and production cuts at domestic automobile parts manufacturers resulted in substantial revenue declines for die-casting lubricants, cutting fluids, hot-forging lubricants, flame-retardant hydraulic fluids, and automotive chemical products such as brake fluid and antifreeze. As a result, segment revenue was ¥4,395 million, down 15.3% year on year, and segment profit was ¥69 million, down 69.4% year on year.」
The suspension of operations and production cuts at domestic automobile parts manufacturers have materialized as substantial revenue declines across multiple automotive-related products, with Japan segment revenue down 15.3% and profit down 69.4%. - FY2020WorsenedAnnual report
「The global economy, which had been weak since last year due to the slowdown in the Chinese economy caused by US-China trade friction and other factors and falling crude oil prices, underwent a sharp slowdown as the spread of the novel coronavirus infection grew. In Japan, as domestic automobile production was beginning to show signs of weakening, exports declined and capital investment fell due to the impact of the novel coronavirus infection both domestically and overseas, strengthening the sense of stagnation, while corporate earnings are also expected to deteriorate.」
In the domestic economy, concerns about stagnation and deteriorating earnings have intensified as declining exports and production have been compounded by lower exports and capital investment due to the impact of the novel coronavirus infection. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter under review, exports and production continued to decline against a backdrop of a global economic slowdown caused by the impact of US-China trade friction and other factors, while manufacturing earnings remained weak.」
Against a backdrop of US-China trade friction and a global economic slowdown, continued declines in exports and production and weak manufacturing earnings are noted, indicating that the domestic business environment continues to deteriorate. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, the Japanese economy saw corporate production activity trend weakly against a backdrop of declining exports, particularly to China.」
The weakness in domestic corporate production activity due to declining exports to China continues to be noted from the previous quarter. - FY2020-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the Japanese economy saw corporate production activity trend weakly against a backdrop of declining exports, particularly to China.」
It is stated that corporate production activity weakened against a backdrop of declining exports to China, heightening concerns about the economic and production environment. - FY2019WorsenedAnnual report
「In Japan, domestic automobile production has remained firm, but a sense of stagnation has spread due to the slowdown in the Chinese economy and other factors, and corporate earnings have also struggled to grow.」
The domestic economy is showing signs of stagnation due to the slowdown in the Chinese economy and other factors, along with sluggish corporate earnings, raising concerns. - FY2019-Q3WorsenedAnnual report
「During the first 9 months of the consolidated fiscal year, although Japan's economy was in a recovery phase said to be comparable to the longest postwar recovery, the impact of successive natural disasters caused corporate production activity to fluctuate, and the economy showed signs of stagnation.」
While the domestic economy is in a recovery phase, repeated natural disasters have caused corporate production activity to fluctuate, changing the assessment to one of an economy that has lost momentum. - FY2019-Q2RestatedAnnual report
「During the first half of the consolidated fiscal year, Japan's economy continued on a gradual recovery trend against a backdrop of improved corporate earnings and employment conditions, although there were concerns that rising crude oil prices would put pressure on corporate earnings.」
The company is reaffirming its recognition that the domestic economy continued on a gradual recovery trend, while concerns remained about pressure on corporate earnings from rising crude oil prices. - FY2019-Q1RestatedAnnual report
「During the first quarter of the consolidated fiscal year, Japan's economy continued on a gradual recovery trend against a backdrop of improved corporate earnings and employment conditions, although there were concerns that rising crude oil prices would put pressure on corporate earnings.」
The company states that the domestic economy continued on a gradual recovery trend, while concerns remained about pressure on corporate earnings from rising crude oil prices. - FY2018-Q3RestatedAnnual report
「During the first 9 months of the consolidated fiscal year, Japan's economy continued on a gradual recovery trend due to a recovery in exports and production.」
The company states that the domestic economy continued on a gradual recovery trend driven by a recovery in exports and production. - FY2018-Q2SoftenedAnnual report
「During the first half of the consolidated fiscal year, Japan's economy continued on a gradual recovery trend due to a recovery in exports and production, while private consumption also began to recover gradually amid solid employment conditions.」
The company states that the domestic economy continued to recover and that the weakness in private consumption seen in the previous quarter also shifted to a gradual recovery. - FY2018-Q1RestatedAnnual report
「During the first quarter of the consolidated fiscal year, Japan's economy continued on a gradual recovery trend, led by the corporate sector through a recovery in exports and production, although private consumption remained weak.」
The company is reaffirming its assessment that the domestic economy is maintaining a gradual recovery trend while private consumption remains weak. - FY2017SoftenedAnnual report
「Although yen appreciation since the beginning of the year put pressure on corporate earnings, Japan's economy has been on a gradual recovery trend due to yen depreciation following the US presidential election. Meanwhile, domestic production volumes at automakers, the company's main customers, and domestic production volumes at automotive parts manufacturers were about the same as a year earlier, while the shift of production overseas continued.」
The domestic economy improved from pressure caused by yen appreciation to a gradual recovery trend. Domestic automotive-related production was about the same as a year earlier, with no indication that the downturn had deepened. - FY2017-Q3SoftenedAnnual report
「During the first 9 months of the consolidated fiscal year, Japan's economy was gradually recovering, supported by a recovery in the household sector and signs of improvement in external demand.」
The description of the domestic economy improved from a slowdown and stagnation to a recovery trend. However, domestic automotive production volumes remained below the level of the same period a year earlier, and related demand remained sluggish. - FY2017-Q2WorsenedAnnual report
「During the first half of the consolidated fiscal year, Japan's economy remained stagnant as private consumption continued to be weak and the yen's further appreciation exerted additional pressure.」
The description of the domestic economy shifted from a slowdown to stagnation, and further yen appreciation was also noted. Domestic automotive production volumes also declined year on year. - FY2017-Q1First statedAnnual report
「The economic environment surrounding the company was challenging as the economic slowdown continued, the yen appreciated further, and automotive and steel production remained sluggish.」
The company describes the domestic economic slowdown, yen appreciation, and sluggish automotive and steel production as a challenging business environment.