Changes in Political and Economic Conditions in Asia and the United States
First written in FY2016. 10 of 39 entries say "Restated". Latest entry: FY2026.
Taiheiyo Cement moved to the "Worse" side of this theme in 2025, 6 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 125 of 168 companies on the "Worse" side.
65 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In the global economy, the US economy maintained its expansionary trend, although signs of weakening momentum emerged, including slower growth in personal consumption. China's economy slowed moderately as the prolonged weakness in the real estate market continued.」
In the United States, growth in personal consumption slowed, while in China the prolonged weakness in the real estate market and economic slowdown were evident, indicating continued and increasing regional uncertainty surrounding the overseas businesses. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, Japan's economy recovered moderately, supported by continued improvements in employment and income conditions, a recovery in capital investment and personal consumption, and solid public investment, although some effects of US trade policies were observed. However, the economic outlook remains unstable due to downside risks from US trade policies, uncertainty surrounding the situation in the Middle East, the prolonged situation involving Ukraine and other factors.」
In addition to downside risks to the economy from US trade policies, uncertainty surrounding the situation in the Middle East and the prolonged situation involving Ukraine were identified, indicating continued and expanding sources of uncertainty surrounding the overseas businesses. - FY2025WorsenedAnnual report
「Under these conditions, the business environment surrounding the Group is expected to provide a certain level of demand in its core domestic cement business, including demand from the extension of the Hokkaido Shinkansen to Sapporo, large-scale urban redevelopment projects, new semiconductor-related plants, projects related to the Chuo Shinkansen maglev line, national resilience measures, and the renewal of aging social infrastructure. Meanwhile, in addition to a chronic labor shortage at construction sites, the expansion of a 2-day weekend system and, in some cases, delays in redevelopment projects due to rising construction costs have been observed, and conditions remain weak at present.」
In addition to external conditions by region and business, factors weighing on demand, including delays in redevelopment projects due to rising construction costs, were identified. - FY2025-H1Recovery and weakness coexisted across regionsAnnual report
「In the US West Coast cement business, sales volumes were below the same period of the previous year due to a decline in housing starts, adverse weather and other factors, although selling prices exceeded the same period of the previous year. In the Vietnamese cement business, domestic sales volumes were below the same period of the previous year due to intensifying competition and other factors, although total sales volumes, including exports, exceeded the same period of the previous year. Sales volumes in the Philippine cement business were roughly in line with the same period of the previous year.」
In the United States, sales volumes declined while prices rose; in Vietnam, domestic sales declined while volumes including exports increased; and in the Philippines, volumes remained roughly in line with the same period of the previous year. Differences in the business environment across regions continued. - FY2024Recovery and weakness coexisted across overseas regionsAnnual report
「Sales volumes in the US West Coast cement business exceeded the previous fiscal year, reflecting the full-year contribution of the acquisition of the Redding plant and other assets. Although recovery in private-sector demand in Vietnam remained slow even after monetary easing, sales volumes exceeded the previous fiscal year due in part to increased exports. Sales volumes in the Philippine cement business exceeded the previous fiscal year as production capacity recovered following equipment repairs.」
Sales volumes exceeded the previous fiscal year in the United States, Vietnam and the Philippines. In Vietnam, delayed recovery in private-sector demand coexisted with increased exports. - FY2024-Q3Changes in sales volumes across regionsAnnual report
「In the US West Coast cement business, sales volumes exceeded the same period of the previous year due in part to the acquisition of the Redding plant and other assets. Sales volumes in the Vietnamese cement business were below the same period of the previous year due to weak private-sector demand resulting from monetary tightening. Sales volumes in the Philippine cement business exceeded the same period of the previous year as production capacity recovered following equipment repairs.」
Sales volumes increased in the United States due to the acquisitions, declined in Vietnam as private-sector demand remained weak due to monetary tightening, and increased in the Philippines as production capacity recovered following equipment repairs. - FY2024-Q2Changes in sales volumes across regionsAnnual report
「In the US West Coast cement business, sales volumes exceeded the same period of the previous year due in part to the acquisition of the Redding plant and other assets. Sales volumes in the Vietnamese cement business were below the same period of the previous year due to weak private-sector demand resulting from monetary tightening. Sales volumes in the Philippine cement business exceeded the same period of the previous year as production capacity recovered following equipment repairs.」
Sales volumes increased in the United States due to the acquisitions, declined in Vietnam as private-sector demand remained weak due to monetary tightening, and increased in the Philippines as production capacity recovered following equipment repairs. - FY2024-Q1Changes in sales volumes across regionsAnnual report
「Sales volumes in the US West Coast cement business were below the same period of the previous year due to record heavy rain and snowfall. In Vietnam, weak private-sector demand in the southern region was offset by exports and clinker sales, leaving sales volumes roughly in line with the same period of the previous year. Sales volumes in the Philippine cement business exceeded the same period of the previous year due to the recovery of production capacity following equipment repairs.」
Sales volumes declined in the United States due to adverse weather; in Vietnam, weak private-sector demand in the south coexisted with exports and clinker sales, leaving volumes roughly in line with the same period of the previous year; and in the Philippines, sales volumes increased as production capacity recovered following equipment repairs. - FY2023RestatedAnnual report
「In the US West Coast cement business, sales volumes exceeded the previous fiscal year due in part to the acquisition of the Redding plant and other assets. Sales volumes in the Chinese cement business were below the previous fiscal year due in part to the impact of lockdowns associated with the zero-COVID policy. Sales volumes in the Vietnamese cement business were below the previous fiscal year due in part to lower exports resulting from weak demand in China and sluggish domestic demand. Sales volumes in the Philippine cement business were below the previous fiscal year due in part to lower sales of imported cement resulting from anti-dumping duties on imports from Vietnam.」
Higher sales volumes in the United States resulting from the effects of the acquisitions coexisted with lower sales volumes in China, Vietnam and the Philippines, and differences in the business environment across overseas regions continued. - FY2023-Q3RestatedAnnual report
「In the US West Coast cement business, sales volumes exceeded the same period of the previous year due in part to the acquisition of the Redding plant and other assets. Sales volumes in the Chinese cement business were below the same period of the previous year due in part to the impact of lockdowns associated with the zero-COVID policy. Sales volumes in the Vietnamese cement business were below the same period of the previous year due in part to delays in project construction caused by soaring material costs. Sales volumes in the Philippine cement business were below the same period of the previous year due in part to lower sales of imported cement resulting from anti-dumping duties on Vietnamese products.」
While sales volumes increased in the United States following the acquisitions, regional differences continued, with sales volumes below the same period of the previous year in China, Vietnam and the Philippines due to lockdowns, construction delays, anti-dumping duties and other factors. - FY2023-Q2WorsenedAnnual report
「In the US West Coast cement business, demand remained solid, but sales volumes were below the same period of the previous year due in part to adverse weather in some areas. Sales volumes in the Chinese cement business were below the same period of the previous year due to the impact of lockdowns associated with the zero-COVID policy. Sales volumes in the Vietnamese cement business were below the same period of the previous year due to delays in demand recovery following the lifting of the lockdown. Sales volumes in the Philippine cement business declined, partly due to lower sales of imported cement following the imposition of anti-dumping duties on Vietnamese products.」
Sales volume declines were reported across the United States, China, Vietnam and the Philippines due to adverse weather, lockdowns, delays in demand recovery, anti-dumping duties and other factors, indicating a broadening range of external factors affecting the overseas businesses. - FY2023-Q1Increases and decreases in sales and external factors coexisted across regionsAnnual report
「In the US West Coast cement business, both sales volumes and prices exceeded the same period of the previous year, supported by solid housing demand. Sales volumes in the Chinese cement business were below the same period of the previous year due to differences in the timing of the Lunar New Year. Sales volumes in the Vietnamese cement business were below the same period of the previous year due to delays in the recovery of demand following the lifting of the lockdown. Sales volumes in the Philippine cement business declined as the effects of a typhoon in December of the previous year continued into the beginning of the year.」
Sales volumes and prices increased in the United States, while sales volumes declined in China, Vietnam and the Philippines due to differences in timing, delays in demand recovery, the impact of a typhoon and other factors. Differences in the business environment across regions continued. - FY2022WorsenedAnnual report
「Japan's economy is expected to continue recovering, but uncertainty surrounding a full-scale recovery has increased due to concerns over a renewed spread of infections caused by new COVID-19 variants and further increases in resource and food prices resulting from the situation involving Russia and Ukraine.」
In addition to the regional differences seen during the pandemic, new variants, the situation involving Russia and Ukraine, and soaring resource and food prices emerged as sources of uncertainty. - FY2022-Q3WorsenedAnnual report
「In the US West Coast cement business, both sales volumes and prices exceeded the same period of the previous year, supported by solid housing demand. Sales volumes in the Chinese cement business were below the same period of the previous year. Sales volumes in the Vietnamese and Philippine cement businesses were below the same period of the previous year, due in part to social distancing measures implemented following the resurgence of COVID-19 infections from July onward.」
Sales volumes and prices increased in the United States, while sales volumes declined in China. Vietnam and the Philippines, where volumes had previously been increasing, also fell below the same period of the previous year due to social distancing measures and other factors associated with the resurgence of COVID-19. Factors causing deterioration spread across regions. - FY2022-Q2Recovery and declines in sales coexisted across regionsAnnual report
「In the US West Coast cement business, both sales volumes and prices exceeded the same period of the previous year, supported by solid housing demand. Sales volumes in the Chinese cement business were below the same period of the previous year. Although the cement business in Vietnam was affected by competition with other companies and other factors, sales volumes exceeded the same period of the previous year. Sales volumes in the Philippine cement business exceeded the same period of the previous year.」
Sales volumes in the United States, Vietnam and the Philippines exceeded the same period of the previous year, while sales volumes in China were lower. Differences in the business environment across regions continued. - FY2022-Q1The impact of the pandemic and recovery coexisted across regionsAnnual report
「In the US West Coast cement business, both sales volumes and prices exceeded the same period of the previous year, supported by solid housing demand. Sales volumes in the Chinese cement business exceeded the same period of the previous year. Although the cement business in Vietnam was affected by competition with other companies and other factors, sales volumes exceeded the same period of the previous year. Sales volumes in the Philippine cement business declined due to delays in the recovery of economic activity following the resurgence of COVID-19.」
Sales volumes in the United States, China and Vietnam exceeded the same period of the previous year, while sales volumes in the Philippines declined due to delays in the recovery of economic activity following the resurgence of COVID-19. Regional differences continued. - FY2021Regional differences continued during the pandemicAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, sales volumes increased and prices rose, as construction was allowed to continue as an essential activity in many states and housing demand remained solid despite the impact of the spread of COVID-19. Sales volumes in the Chinese cement business declined. Although the cement business in Vietnam was affected by competition with other companies and other factors, sales volumes increased. Sales volumes in the Philippine cement business declined as some construction projects stagnated due to movement restrictions implemented in response to COVID-19.」
During the pandemic, sales volumes and prices increased in the United States, sales volumes increased in Vietnam despite the impact of competition, sales volumes declined in China, and sales volumes declined in the Philippines due to movement restrictions. Regional differences continued. - FY2021-Q3The impact of the pandemic, recovery and competition continued across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, both sales volumes and prices exceeded the same period of the previous year, as construction was allowed to continue as an essential activity in many states and housing demand remained solid despite the spread of COVID-19. Sales volumes in the Chinese cement business declined. Although the cement business in Vietnam was affected by competition with other companies and other factors, sales volumes exceeded the same period of the previous year. Sales volumes in the Philippine cement business declined as some construction projects stagnated due to movement restrictions implemented in response to COVID-19.」
Sales volumes and prices increased in the United States, supported by the continuation of construction activity and housing demand, while sales volumes increased in Vietnam despite the impact of competition. In contrast, sales volumes declined in China and in the Philippines as construction projects stagnated due to movement restrictions. - FY2021-Q2The impact of the pandemic, recovery and competition continued across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, both sales volumes and prices exceeded the same period of the previous year, supported by solid housing demand, as construction was allowed to continue as an essential activity in many states despite the spread of COVID-19. Sales volumes in the Chinese cement business declined. Although the cement business in Vietnam was affected by competition with other companies and other factors, sales volumes exceeded the same period of the previous year. Sales volumes in the Philippine cement business declined due to the impact of the domestic lockdown.」
Sales volumes and prices in the United States exceeded the same period of the previous year, and sales volumes in Vietnam increased despite the impact of competition. Meanwhile, sales volumes declined in China and in the Philippines due to the lockdown. - FY2021-Q1The impact of the pandemic, recovery and competition coexisted across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, both sales volumes and prices exceeded the previous fiscal year. Sales volumes in the Chinese cement business declined due to the impact of COVID-19. Although the cement business in Vietnam was affected by competition with other companies and other factors, sales volumes exceeded the previous fiscal year. Sales volumes and prices in the Philippine cement business remained generally flat.」
Sales volumes and prices increased in the United States, while sales volumes declined in China due to COVID-19. Sales volumes increased in Vietnam despite the impact of competition, while both volumes and prices remained flat in the Philippines. - FY2020The impact of growth, slowdown and stagnation coexisted across regionsAnnual report
「The US economy grew steadily, maintaining a low unemployment rate as personal consumption expanded. The Chinese economy showed a slowdown in the pace of growth due to the prolonged trade dispute with the United States. The Vietnamese economy remained solid, supported by strong personal consumption and exports. The Philippine economy continued to expand, despite a temporary decline in public investment due to the national and local elections.」
Steady growth in the United States, slower growth in China, solid conditions in Vietnam, and a temporary decline in public investment associated with the elections in the Philippines coexisted. - FY2020-Q2The impact of recovery, competition and stagnation continued across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes were sluggish, mainly due to adverse weather, although prices showed an upward trend. Shipment volumes in the Chinese cement business showed signs of recovery. The cement business in Vietnam continued to be affected by competition with other companies and other factors. In the Philippines, demand and market conditions remained generally flat due to stagnation in public works associated with the national and local elections.」
In the United States, shipment volumes stagnated due to adverse weather while prices rose; in China, shipment volumes recovered; in Vietnam, the business was affected by competition; and in the Philippines, stagnation in public works associated with the elections coincided with flat demand and market conditions. - FY2020-Q2The impact of recovery, competition and stagnation continued across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes were sluggish, mainly due to adverse weather, although prices showed an upward trend. Shipment volumes in the Chinese cement business showed signs of recovery. The cement business in Vietnam continued to be affected by competition with other companies and other factors. In the Philippines, demand and market conditions remained generally flat due to stagnation in public works associated with the national and local elections.」
In the United States, shipment volumes stagnated due to adverse weather while prices rose; in China, shipment volumes recovered; in Vietnam, the business was affected by competition; and in the Philippines, stagnation in public works associated with the elections coincided with flat demand and market conditions. - FY2020-Q1Recovery, stagnation and the impact of competition coexisted across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes were sluggish, mainly due to adverse weather, although prices showed an upward trend. Shipment volumes in the Chinese cement business showed signs of recovery. The cement business in Vietnam continued to be affected by competition with other companies and other factors. In the Philippines, demand was roughly flat due to stagnation in public works associated with the presidential election, while market conditions showed signs of recovery.」
In the United States, shipment volumes stagnated due to adverse weather while prices rose; in China, shipment volumes recovered; in Vietnam, the business was affected by competition; and in the Philippines, demand was flat due to stagnation in public works while market conditions recovered. - FY2019Recovery and slowdown coexisted across regionsAnnual report
「The US economy continued to grow moderately, supported by a low unemployment rate and solid personal consumption. The Chinese economy showed a slowdown in the pace of expansion, reflecting declining exports and slowing personal consumption. In Vietnam and the Philippines, economic conditions remained firm, supported by solid personal consumption and other factors.」
The full-year regional picture showed growth in the United States, a slowdown in China's pace of expansion, and resilient conditions in Vietnam and the Philippines. - FY2019-Q3RestatedAnnual report
「The US economy continued to recover steadily, as the unemployment rate trended downward and personal consumption and capital investment increased. The Chinese economy showed signs of a gradual slowdown in the pace of expansion. In Vietnam and the Philippines, economic conditions remained firm, supported by solid personal consumption and other factors.」
Regional conditions showed recovery in the United States, a slowdown in China's economic expansion, and resilient economic conditions in Vietnam and the Philippines. - FY2019-Q2RestatedAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes increased and market conditions generally showed signs of recovery. Prices recovered in the Chinese cement business. The cement business in Vietnam was affected by competition with other companies and other factors. Although domestic demand continued to expand in the Philippines, market conditions remained weak.」
Regional conditions continued to differ, with recovery in the United States, price recovery in China, the impact of competition in Vietnam, and expanding domestic demand alongside weak market conditions in the Philippines. - FY2019-Q1RestatedAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes increased and market conditions generally showed signs of recovery. Prices recovered in the Chinese cement business. The cement business in Vietnam was affected by competition with other companies and other factors. Although domestic demand continued to expand in the Philippines, market conditions remained weak.」
Regional conditions continued to differ, with recovery in the United States, price recovery in China, the impact of competition in Vietnam, and expanding domestic demand alongside weak market conditions in the Philippines. - FY2018RestatedAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes increased and market conditions generally showed signs of recovery. In the Chinese cement business, demand and prices showed signs of recovering in some areas. The cement business in Vietnam was affected by competition with other companies and other factors. Although domestic demand continued to expand in the Philippines, market conditions remained weak.」
Regional conditions continued to differ, with partial recovery in the United States and China, the impact of competition in Vietnam, and expanding domestic demand alongside weak market conditions in the Philippines. - FY2018-Q3Recovery, competition and weakness coexisted across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes increased and market conditions generally showed signs of recovery. In the Chinese cement business, demand and prices showed signs of recovering in some areas. The cement business in Vietnam was affected by competition with other companies and other factors. Although domestic demand continued to expand in the Philippines, market conditions remained weak.」
The United States showed signs of recovery and China saw partial recovery in demand and prices, while Vietnam was affected by competition and the Philippines experienced expanding domestic demand alongside weak market conditions. Differences in the business environment across regions were evident. - FY2018-Q2Improvement and weakness coexisted across regionsAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes increased and market conditions generally showed signs of recovery. In the Chinese cement business, demand showed signs of recovering in some areas. Although domestic demand continued to expand in Vietnam and the Philippines, market conditions remained weak.」
While demand showed signs of recovering in some areas of China, expanding domestic demand and weak market conditions coexisted in Vietnam and the Philippines. The US West Coast was described as showing signs of recovery. - FY2018-Q1WorsenedAnnual report
「In the cement and ready-mixed concrete businesses on the US West Coast, shipment volumes increased and market conditions generally showed signs of recovery. Demand in the Chinese cement business remained sluggish. Although domestic demand continued to expand in Vietnam and the Philippines, market conditions remained weak.」
While weak demand continued in China, market conditions weakened in Vietnam and the Philippines, which had previously been described as performing steadily, despite expanding domestic demand. The US West Coast was described as showing signs of recovery. - FY2017RestatedAnnual report
「Demand in the Chinese cement business remained sluggish. The cement businesses in Vietnam and the Philippines performed steadily, supported by strong domestic demand.」
The regional conditions showed continued sluggish demand in China, while Vietnam and the Philippines performed steadily, supported by strong domestic demand. - FY2017-Q3RestatedAnnual report
「Demand in the Chinese cement business remained sluggish.」
It was again stated that demand in the Chinese cement business remained sluggish. Vietnam and the Philippines were described as performing steadily, supported by strong domestic demand. - FY2017-Q2RestatedAnnual report
「Demand in the Chinese cement business remained sluggish.」
It was again stated that demand in the Chinese cement business remained sluggish. - FY2017-Q1RestatedAnnual report
「Demand in the Chinese cement business remained sluggish.」
It was stated that demand in the Chinese cement business remained sluggish. - FY2016First statedAnnual report
「Our Group operates in various parts of the world, including Asian countries and the United States, and may be affected by changes in the political and economic conditions in each region.」
It states that the slowdown in the Chinese economy and intensifying price competition affected the Chinese cement business, indicating that changes in overseas conditions were reflected in the business environment during the fiscal year.