Increasing economic uncertainty due to geopolitical conditions, yen depreciation, and surging resource prices
First written in FY2023-Q1. 5 of 9 entries say "Restated". Latest entry: 2026-05-14.
SmartDrive moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2026: 8 of 12 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- 2026-05-14WorsenedEarnings
「一方で、物価高に伴う家計の節約志向、米国の通商政策が世界経済に与える影響、中東情勢の緊迫化を受けた原油価格の高騰、日中関係の悪化に伴うインバウンド需要への影響など、依然として先行き不透明な状況が続いております。」
先行き不透明感が継続し、米国の通商政策に加えて中東情勢、原油価格、日中関係などの要因が列挙された。 - FY2025SoftenedAnnual report
「Although the effects of rising prices and other factors have been evident, the economy has shown signs of a gradual recovery amid improvements in employment and increases in nominal wages. Business sentiment in the corporate sector has also been recovering, reflecting improved earnings, while companies' appetite for capital investment has remained firm despite the negative effects of high prices and supply constraints caused by labor shortages.」
Unlike the previous description of uncertainty caused by inflation and other factors, FY2025 describes a pickup and recovery trend in economic conditions and business sentiment. However, constraints from high prices and labor shortages remain. - FY2025-H1Addition of a source of uncertaintyAnnual report
「The outlook remains uncertain due to the effects of inflationary pressure accompanying the global rise in prices and other factors, as well as the impact of US tariff policy on the global economy.」
In addition to existing inflationary pressure and other factors, the company identifies the impact of US tariff policy on the global economy as a factor contributing to uncertainty about the outlook. - FY2024-Q2RestatedAnnual report
「The outlook remains uncertain due to the effects of inflationary pressure accompanying the global rise in prices and other factors.」
The company continues to disclose uncertainty about the economic outlook due to inflationary pressure. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy remained uncertain, although the adjustment phase in manufacturing was expected to come to an end as inventory adjustments concluded and capital investment was expected to recover gradually. Continued inflationary pressure, however, made a strong recovery in personal consumption unlikely.」
The company cites inflationary pressure and concerns about the strength of the recovery in personal consumption, and continues to disclose uncertainty about the economic outlook. - FY2023RestatedAnnual report
「Uncertainty about economic conditions in Europe and the United States due to inflation and the effects of interest rate hikes, together with the prolonged adjustment in the semiconductor market, exerted downward pressure, leaving the outlook uncertain.」
In addition to yen depreciation and inflation, the company identifies economic conditions in Europe and the United States, interest rate hikes, and the prolonged adjustment in the semiconductor market as factors contributing to economic uncertainty. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy showed signs of a gradual recovery across industries as the COVID-19 pandemic subsided. While there were concerns about business sentiment due to yen depreciation and inflation,」
The company continues to identify concerns about business sentiment caused by yen depreciation and inflation as factors contributing to economic uncertainty. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy showed signs of a gradual recovery across industries as the COVID-19 pandemic subsided. While there were concerns about business sentiment due to yen depreciation and inflation,」
The company continues to identify concerns about business sentiment caused by yen depreciation and inflation as factors contributing to economic uncertainty. - FY2023-Q1First statedAnnual report
「At the same time, new factors creating an uncertain outlook emerged, including concerns about the impact of conditions in Ukraine and Russia on economic activity, a sharp depreciation of the yen due to rising US interest rates, and surging resource prices.」
The company has, for the first time, explicitly identified conditions in Ukraine and Russia, yen depreciation accompanying higher US interest rates, and surging resource prices as factors increasing economic uncertainty.