Uncertainty in the Business Environment Caused by Infectious Diseases, Geopolitical Developments, Rising Prices, and Yen Depreciation
First written in FY2022-Q2. 3 of 7 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2025-H1.
Housei moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2025: 22 of 48 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2025-H1MaterialisedAnnual report
「The domestic IT business is operated by the Company, アイード株式会社 and SEVEN&EIGHT SYSTEM株式会社. Sales increased to ¥2,137.994 million, up ¥69.631 million, or 3.4%, year on year, but operating loss widened to ¥30.360 million from an operating loss of ¥3.626 million in the same interim period of the previous year, partly due to the impact of rising prices in Japan.」
Rising prices in Japan, previously described as easing, were reflected in actual results as a factor behind the ¥30.360 million operating loss in the domestic IT business. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy continued to recover as economic activity normalized in the post-COVID environment, personal consumption recovered and restrictions on overseas travel were eased. The September 2023 BOJ Tankan survey also showed improved business sentiment among large manufacturers for the second consecutive quarter and among large non-manufacturers for the sixth consecutive quarter.」
The disclosure describes normalization of economic activity, recovery in personal consumption, easing of overseas travel restrictions, and improved sentiment among large manufacturers and non-manufacturers, further indicating a reduction in the infectious-disease-related business-environment risk. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy continued to recover as economic activity normalized in the post-COVID environment and personal consumption recovered and restrictions on overseas travel were eased. The June 2023 BOJ Tankan survey also showed improved business sentiment among large manufacturers for the first time in seven quarters and among large non-manufacturers for the fifth consecutive quarter.」
Economic activity normalized in the post-COVID environment, consumption recovered and travel restrictions were eased, while business sentiment also improved. The description indicates a further reduction in the infectious-disease-related business-environment risk from the previous quarter. - FY2023-Q1MitigatedAnnual report
「As constraints on economic activity during the COVID-19 pandemic were gradually lifted, personal consumption recovered and restrictions on overseas travel were eased. As a result, the March 2023 BOJ Tankan survey showed that business sentiment among large non-manufacturers improved for the fourth consecutive quarter, making the recovery trend increasingly clear.」
The easing of restrictions on economic activity and overseas travel associated with infectious disease was added as an indication that the related business-environment risk was declining. However, the disclosure stated that there were no material changes to business and other risks, and did not indicate that the risks overall had been eliminated. - FY2022RestatedAnnual report
「If the prolonged spread of COVID-19 results in lost business opportunities due to restrictions on visits to customer companies, restraint of new investment by customer companies against a deteriorating market backdrop, and consequent declines in orders and sales, lower profit margins, or longer collection periods, this could adversely affect the operating results and financial position of the Group and slow its growth.」
The risks of lost business opportunities, restrained new investment, and declines in orders and sales due to prolonged infectious disease continued to be described. The business impact of the disease was made more specific as a risk, replacing the previous references to rising prices and yen depreciation. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy remained difficult due to the spread of the Omicron variant of COVID-19, rising prices resulting from Russia's invasion of Ukraine, and yen depreciation, with uncertainty about the outlook remaining unresolved. However, in the third quarter, restrictions on movement and quarantine upon entry were eased, and there were signs of improvement, including the gradual return of inbound tourists.」
The difficult environment and uncertainty caused by infectious disease, inflation associated with the invasion of Ukraine, and yen depreciation remained. At the same time, easing of movement restrictions and entry quarantine and the return of inbound tourists were added as positive signs, but the risk itself was not described as having been eliminated. - FY2022-Q2First statedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained difficult due to the spread of the Omicron variant of COVID-19, rising prices resulting from Russia's invasion of Ukraine, and yen depreciation, with uncertainty about the outlook remaining unresolved.」
The spread of infectious disease, inflation associated with the invasion of Ukraine, and yen depreciation were described as events that had already occurred, with uncertainty about the outlook indicated.