Downturn in Asian Emerging-Market Economies and Uncertainty in the Global Economy
First written in FY2017-Q1. 14 of 27 entries say "Restated". Latest entry: FY2026.
Sumitomo Osaka Cement moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
28 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Japan's economic outlook remains uncertain, with downside risks resulting from the situation in the Middle East, the impact of US trade policy and other factors, although improvements in employment and income conditions and the effects of various policies are expected to support a gradual recovery.」
The Middle East situation and US trade policy were explicitly identified as downward pressures on the economic environment, changing the composition of risk factors from the previous focus on rising prices. - 2026-05-13ReframedEarnings
「The outlook remains uncertain due to downside risks from the situation in the Middle East, the US trade policy, and other factors.」
In addition to US trade policy, which had been identified previously, the situation in the Middle East was explicitly cited as a downside factor. - FY2026-H1RestatedAnnual report
「During the current interim consolidated accounting period (April-September 2025), Japan's economy continued to recover gradually, supported by improvements in employment and income conditions, the effects of economic measures and other factors, despite the impact of rising prices.」
The company reconfirms its view that a gradual recovery is continuing, supported by improvements in employment and income conditions, economic measures and other factors, despite the impact of rising prices. - FY2025ReframedAnnual report
「Japan's economy is expected to continue recovering gradually, supported by a recovery in capital investment, improvements in employment and income conditions and other factors, although risks remain that rising prices, US trade policy and other factors could weigh on the economy.」
The impact of US trade policy has been explicitly identified as an economic downside factor in addition to the previously cited impact of rising prices. - FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period (April-September 2024), Japan's economy continued to recover gradually, supported by improvements in employment and income conditions and signs of a recovery in capital investment, against a backdrop of the effects of the government's economic measures and other factors, despite the impact of rising prices.」
The company reconfirms its view that a gradual recovery is continuing, supported by employment and income conditions and a recovery in capital investment, despite the impact of rising prices. - FY2024SoftenedAnnual report
「Japan's economy is expected to continue recovering gradually, supported by improvements in employment and income conditions, a recovery in capital investment and the effects of the government's economic measures, although risks remain that rising prices and other factors could weigh on the economy.」
Although downside risks from rising prices remain, the outlook indicates that a gradual recovery will continue, supported by employment and income conditions, capital investment and other factors. Risk awareness has weakened from the previous fiscal year. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter (April-December 2023), Japan's economy continued to recover gradually, supported by a recovery in exports, the effects of the government's economic measures and other factors, despite the impact of rising prices.」
The company reconfirms its view that a gradual recovery is continuing, supported by a recovery in exports and the government's economic measures, while the impact of rising prices persists. The filing states that there have been no material changes concerning business and other risks. - FY2024-Q2SoftenedAnnual report
「During the cumulative second quarter (April-September 2023), Japan's economy continued to recover gradually, supported by a recovery in exports, the effects of the government's economic measures and other factors, despite the impact of rising prices.」
The impact of rising prices continues, while the filing states that a gradual recovery is continuing, supported by a recovery in exports and other factors. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter (April-December 2022), Japan's economy continued on a gradual recovery trend, supported by the effects of the government's economic measures and other factors, despite the impact of the situation in Ukraine, rising prices resulting from exchange-rate movements and other factors, and the easing impact of COVID-19.」
The company reconfirms the gradual recovery trend as the impact of COVID-19 eases, while uncertainty in the economic environment includes rising prices resulting from the situation in Ukraine and exchange-rate movements. - FY2023-Q2ReframedAnnual report
「During the cumulative second quarter (April-September 2022), Japan's economy showed signs of recovery, supported by the easing impact of COVID-19 and the effects of the government's economic measures, despite the impact of the situation in Ukraine, rising prices resulting from exchange-rate movements and other factors.」
Rising prices resulting from exchange-rate movements have been explicitly identified as an economic-environment risk factor in addition to the situation in Ukraine. The filing states that the impact of COVID-19 has eased. - FY2023-Q1SoftenedAnnual report
「During the cumulative first quarter (April-June 2022), Japan's economy showed signs of recovery as the difficult conditions resulting from COVID-19 eased.」
The difficult economic conditions resulting from COVID-19 eased, and signs of recovery were reported. - FY2022ReframedAnnual report
「Japan's economic outlook remains uncertain, with downside risks resulting from the situation in Ukraine, the impact of COVID-19 and other factors.」
The situation in Ukraine has been added to COVID-19 as an explicit downside factor in the discussion of uncertainty in the global economy and business environment. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter (April-December 2021), Japan's economy showed some signs of recovery owing to the effects of the government's economic measures and improvements in overseas economies, but remained in difficult conditions owing to the impact of COVID-19.」
The company reconfirms its view that, although some recovery is visible, difficult economic conditions resulting from COVID-19 continue. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter (April-September 2021), Japan's economy showed some signs of recovery owing to the effects of the government's economic measures and improvements in overseas economies, but remained in difficult conditions owing to the impact of COVID-19.」
The company reconfirms its view that, although some recovery is visible in the economic environment, difficult conditions resulting from COVID-19 continue. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter (April-June 2021), Japan's economy remained in difficult conditions owing to the impact of COVID-19. Although signs of a recovery continued, weakness increased in some areas.」
The difficult economic environment and weakness in some areas resulting from COVID-19 continue to be cited. The filing states that there have been no new risks or material changes concerning business and other risks. - FY2021RestatedAnnual report
「Japan's economy is expected to recover as the effects of the government's economic policies and improvements in overseas economies take hold. However, risks remain from the impact of COVID-19 in Japan and overseas, and the economic outlook remains uncertain.」
Uncertainty in domestic and overseas economies resulting from COVID-19 and other factors continues to be cited as a business-environment risk. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter (April-December 2020), Japan's economy remained in difficult conditions, with corporate earnings declining substantially owing to the impact of COVID-19.」
The decline in corporate earnings and difficult economic conditions resulting from COVID-19 continue. The filing states that there have been no new risks or material changes concerning business and other risks. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter (April-September 2020), Japan's economy remained in difficult conditions, with corporate earnings declining substantially owing to the impact of COVID-19.」
The decline in corporate earnings and difficult economic conditions resulting from COVID-19 continue. The filing states that there have been no new risks or material changes from the previous fiscal year concerning business and other risks. - FY2021-Q1WorsenedAnnual report
「During the first quarter (April-June 2020), Japan's economy deteriorated sharply and remained in difficult conditions as social and economic activity stagnated substantially following the spread of COVID-19, including the issuance of a state of emergency.」
The substantial stagnation of social and economic activity and the sharp deterioration in the economy resulting from COVID-19 are identified as actual conditions underlying uncertainty in the global economy and business environment. - FY2020ReframedAnnual report
「Japan's economic outlook remains difficult, with downside risks from the impact of trade-related developments on the global economy and further deterioration in domestic and overseas economies resulting from the COVID-19 pandemic.」
The main factors behind global economic uncertainty have expanded from emerging Asian economies and the US economy to include downside from the COVID-19 pandemic in addition to trade issues. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter (April-December 2019), Japan's economy continued to recover gradually, supported by improvements in employment and income conditions and the effects of the government's economic measures, despite concerns about a downturn resulting from the impact of trade-related developments on the global economy and other factors.」
The impact of developments in trade issues on the global economy continues to be cited as a concern about an economic downturn. - FY2020-Q2ReframedAnnual report
「During the cumulative second quarter (April-September 2019), Japan's economy continued to recover gradually, supported by improvements in employment and income conditions and the effects of the government's economic measures, despite concerns about a downturn resulting from the impact of trade-related developments on the global economy and other factors.」
The description of the main factor behind global economic uncertainty changed from emerging Asian economies and developments in the US economy to concerns about an economic downturn resulting from developments in trade issues. - FY2018-Q1RestatedAnnual report
「During the first quarter (April-June 2017), Japan's economy was on a gradual recovery trend, supported by the effects of the government's economic measures and other factors. However, the outlook remained uncertain owing to concerns about an economic downturn in emerging Asian economies, including China, and heightened uncertainty in the global economy resulting from developments in the US economy, among other factors.」
Concerns about downturns in emerging Asian economies and global economic uncertainty resulting from developments in the US economy continue to be cited as business-environment risks. - FY2017RestatedAnnual report
「Japan's economy is expected to recover gradually, supported by the government's economic measures and other factors, although risks remain, including further downside in emerging Asian economies and heightened uncertainty in the global economy resulting from developments in the US economy and other factors.」
Downside in emerging Asian economies and global economic uncertainty related to the US economy continue to be cited as risks. - FY2017-Q3ReframedAnnual report
「The outlook remained uncertain owing to concerns about an economic downturn in emerging Asian economies, including China, and heightened uncertainty in the global economy resulting from developments in the US economy, among other factors.」
Concerns about downturns in emerging Asian economies and global economic uncertainty continue, while developments in the US economy have been identified as a source of uncertainty in place of the UK's withdrawal from the EU, which was cited previously. - FY2017-Q2RestatedAnnual report
「The outlook remained uncertain owing to concerns about an economic downturn in emerging Asian economies, including China, and heightened uncertainty in the global economy resulting from the UK's withdrawal from the EU, among other factors.」
Concerns about downturns in emerging Asian economies and the UK's withdrawal from the EU continue to be cited as business-environment risks related to global economic uncertainty. - FY2017-Q1First statedAnnual report
「The outlook remained uncertain owing to concerns about an economic downturn in emerging Asian economies, including China, and heightened uncertainty in the global economy resulting from the UK's withdrawal from the EU, among other factors.」
Concerns about downturns in emerging Asian economies and the UK's withdrawal from the EU are identified for the first time as business-environment risks related to global economic uncertainty.