Political, Economic and Geopolitical Risks Associated with Overseas Expansion
First written in FY2016. 7 of 11 entries say "Worsened", first in FY2021. Latest entry: 2026-09-09.
Nichirin moved to the "Worse" side of this theme in 2025, 3 years after the typical company in this theme (2022).
The whole theme swung hardest in 2022: 38 of 76 companies on the "Worse" side.
10 other companies' latest entry also says "Materialised".
- FY2025WorsenedAnnual report
「The global economy in 2026 is expected to remain broadly flat overall, despite uncertainty stemming from increased instability in international affairs and heightened geopolitical risks. Changes in the trade environment are expected to continue against the backdrop of protectionist policy trends, including additional tariffs, and the business environment surrounding corporate activity remains uncertain.」
In addition to international affairs and geopolitical risks, the disclosure explicitly identifies the continued risk of protectionism, including additional tariffs, and changes in the trade environment. - FY2025-H1WorsenedAnnual report
「In Europe, inflation also eased as energy prices stabilized, and the economy recovered moderately as interest rate cuts continued. Meanwhile, exports have declined due to U.S. tariff policies, and attention is focused on the economic impact of new reciprocal tariffs to be applied from August onward.」
While the recovery of the European economy is noted, exports have actually declined due to U.S. tariff policies, and the impact of new reciprocal tariffs is also a concern. Political and economic risks associated with overseas operations have materialized. - FY2024WorsenedAnnual report
「However, the strengthening of protectionist policies, including additional tariffs, under the second Trump administration in the United States, escalating U.S.-China tensions, slower growth in the Chinese economy and the impact of changes in monetary policy in major countries have emerged as risks that could lead to a downturn in economic conditions, and developments will need to be monitored closely.」
In addition to the conventional political and economic risks associated with overseas operations, protectionist policies including additional U.S. tariffs and escalating U.S.-China tensions are identified as specific concerns. - FY2022RestatedAnnual report
「Our Group's production and sales activities extend across 9 countries overseas, including Japan. Overseas expansion into these markets entails the following risks,」
The disclosure continues to address the risks associated with operating in 9 countries overseas, including laws and regulations, political and economic factors, war, terrorism and disease. - FY2022-Q2WorsenedAnnual report
「In Europe, the impact of COVID-19 became limited and the economy began to recover despite continued shortages of semiconductors and other parts. However, Russia's invasion of Ukraine has had a major impact on countries dependent on Russian energy and resources, while economic sanctions against Russia could also worsen their own economies, adversely affecting not only national security but also economic activity.」
Dependence on Russian energy and resources, economic sanctions, and their impacts on security and economic activity resulting from the invasion of Ukraine have emerged as specific risks to overseas operations in Europe. - FY2022-Q1WorsenedAnnual report
「The impacts of Russia's invasion of Ukraine, including impacts on financial markets and rising energy prices, have become apparent.」
The disclosure states that the geopolitical risks associated with overseas operations have materialized through the impact of Russia's invasion of Ukraine on financial markets and energy prices. - FY2021WorsenedAnnual report
「Following Russia's invasion of Ukraine on 24 February 2022, impacts on financial markets, rising energy prices and supply chain impacts, including the suspension of production and sales by companies operating in Ukraine, have become apparent.」
The disclosure states that the war and geopolitical risks associated with overseas operations have materialized through impacts from Russia's invasion of Ukraine on financial markets, energy prices and supply chains. - FY2019RestatedAnnual report
「Our Group's production and sales activities extend across 10 countries overseas, including Japan. Overseas expansion into these markets entails the following risks,」
The disclosure continues to address the risks associated with operating in 10 countries overseas, including laws and regulations, political and economic factors, war, terrorism and disease. - FY2016First statedAnnual report
「Our Group's production and sales activities extend across 10 countries overseas, including Japan. Overseas expansion into these markets entails the following risks, which could affect our Group's operating results and financial position. ・Loss of investment opportunities, suspension of manufacturing or sales, increased costs and other consequences resulting from unexpected changes in laws or regulations ・Adverse political or economic developments ・Delays or suspensions in the procurement of materials, production, sales and transportation caused by social disruption resulting from war, terrorism, disease and other events」
The disclosure addresses the risks associated with operating in 10 countries overseas, including the impact of changes in laws and regulations, political and economic factors, and war, terrorism and disease on procurement, production, sales and transportation.