Yen Depreciation, Monetary Tightening, the Situation in Ukraine, and Higher Raw Material Prices
First written in FY2023-Q3. 5 of 7 entries say "Worsened", first in FY2024-Q3. Latest entry: 2026-08-14.
Terilogy Holdings moved to the "Worse" side of this theme in 2024, 2 years after the typical company in this theme (2022).
The whole theme swung hardest in 2020: 40 of 57 companies on the "Worse" side.
37 other companies' latest entry also says "Worsened".
- 2026-08-14WorsenedEarnings
「In addition to the risk of an economic downturn caused by shortages of crude oil and crude-oil-derived products, market concerns about the substitution of existing business models rose sharply as highly advanced generative AI and AI agents evolved rapidly, symbolized by anthropic shocks.」
In addition to geopolitical risks, the weaker yen and raw-material prices, shortages of crude oil and similar products and concerns about the substitution of existing business models by advanced generative AI and AI agents were again highlighted as significant economic and business-environment risks. - FY2026WorsenedAnnual report
「Meanwhile, concerns include geopolitical risks, notably Russia's prolonged invasion of Ukraine and heightened tensions in the Middle East; inflation caused by yen depreciation and soaring raw material prices; downside risks to the economy caused by supply shortages of crude oil and crude oil-derived products; and the substitution of businesses resulting from the spread of AI, as represented by the Anthropic shock.」
In addition to the existing risks from geopolitics, yen depreciation and raw material prices, the company explicitly identifies shortages of crude oil and other supplies and business substitution resulting from the spread of AI as new concerns. - 2026-06-01WorsenedGeneral Meetings of Shareholders
「Concerns include geopolitical risks such as the prolonged Russian invasion of Ukraine and escalating tensions in the Middle East, inflation caused by the weaker yen and higher raw-material prices, the risk of an economic downturn due to shortages of crude oil and crude-oil-derived products, and business substitution resulting from the spread of AI, typified by anthropic shocks.」
In addition to previously cited geopolitical conditions, the weaker yen and raw-material prices, shortages of crude oil and crude-oil-derived products and the substitution of businesses due to the spread of AI were added as concerns. - FY2026-H1WorsenedAnnual report
「Meanwhile, uncertainty persists amid developments in the US Trump administration's trade policy, geopolitical risks including Russia's prolonged invasion of Ukraine and heightened tensions in the Middle East, and inflation caused by soaring raw material prices and yen depreciation.」
In addition to the situation in Ukraine, the situation in the Middle East, raw material prices and yen depreciation, the company explicitly identifies developments in the US administration's trade policy as a source of uncertainty. - FY2024-Q3WorsenedAnnual report
「Meanwhile, the economic outlook remains uncertain, owing to the prolonged situation in Ukraine, the worsening situation between Israel and Palestine, and inflation caused by soaring raw material prices and rapid yen depreciation.」
In addition to the situation in Ukraine, raw material prices and yen depreciation, the company explicitly identifies the worsening situation between Israel and Palestine, thereby broadening the factors contributing to economic uncertainty. - FY2023RestatedAnnual report
「Uncertainty remains over the economic outlook, amid heightened geopolitical risk arising from the situation in Ukraine, soaring global energy prices, rising raw material prices and intermittent yen depreciation.」
The company continues to cite geopolitical developments, energy and raw material prices, and yen depreciation as sources of economic uncertainty. - FY2023-Q3First statedAnnual report
「The economic outlook remains uncertain, amid rapid yen depreciation resulting from the impact of global monetary tightening and inflation caused by soaring raw material prices associated with the prolonged situation in Ukraine.」
The company cites financial conditions, foreign exchange, geopolitical developments and inflation as factors contributing to economic uncertainty.