Uncertainty in Business Sentiment and Consumption Resulting from the Kumamoto Earthquake and Stock Price and Exchange Rate Fluctuations
First written in FY2017-Q1. 23 of 31 entries say "Reframed", first in FY2017-Q2. Latest entry: FY2026.
Resol Holdings moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2019: 8 of 16 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Although the outlook remains uncertain regarding the impact of the situation in the Middle East and fluctuations in demand from China for travel to Japan, which had been areas of concern, their impact during the consolidated fiscal year under review was limited.」
While maintaining the focus on an uncertain economic environment, the disclosure identifies the situation in the Middle East and fluctuations in demand from China for travel to Japan as specific factors, and states that their impact during the year was limited. - FY2025-H1ReframedAnnual report
「The outlook remains uncertain due to high resource and energy costs against a backdrop of the prolonged war in Ukraine and instability in international affairs surrounding the Middle East, as well as concerns over a slowdown in China's economy, exchange-rate movements and rising prices.」
While maintaining the focus on an uncertain economic environment, the disclosure updates the specific factors to include the prolonged war in Ukraine, the situation in the Middle East, resource and energy costs, China's economy, exchange rates and prices. - FY2024-Q3ReframedAnnual report
「Meanwhile, some downside concerns for the economy remain, including geopolitical risks involving China's economy, the situation in the Middle East and the war in Ukraine, as well as global monetary tightening and the impact of rising prices.」
While maintaining the focus on an uncertain economic environment, the disclosure identifies China's economy, the situation in the Middle East, the war in Ukraine, monetary tightening and rising prices as specific downside factors. - FY2024-Q2ReframedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economy continued to recover gradually as economic activity strengthened on the back of improving employment and income conditions. Although some downside risks were evident, including higher raw-material costs resulting from prolonged international uncertainty, global monetary tightening and restrained consumption due to rapidly rising prices, the environment surrounding the Group remained solid, supported by a significant recovery in inbound demand, increased domestic travel demand and the expansion of sports activities amid growing health awareness.」
While identifying international affairs, higher raw-material costs, global monetary tightening and restrained consumption due to rapidly rising prices as downside risks to the economy, the disclosure also notes the recovery in inbound demand, domestic travel and sports activities. - FY2024-Q1ReframedAnnual report
「Although the outlook remains uncertain due to higher raw-material costs resulting from prolonged instability in international affairs and the impact of global monetary tightening, the environment surrounding the Group is steadily recovering, as reflected in increased domestic travel and visitor numbers to Japan.」
While identifying international affairs, higher raw-material costs and monetary tightening as sources of uncertainty, the disclosure also describes a recovery driven by increased domestic travel and visitor numbers to Japan. - FY2023-Q3ReframedAnnual report
「Although the outlook remains uncertain due to higher energy and raw-material costs and sharp exchange-rate fluctuations resulting from instability in international affairs, signs of recovery have emerged in the environment surrounding the Group, including a recovery in people flows and a trend toward higher inbound demand.」
While continuing to highlight uncertainty from international affairs, higher costs and exchange-rate fluctuations, the disclosure also notes signs of recovery in the business environment from the recovery in people flows and increased inbound demand. - FY2023-Q2ReframedAnnual report
「During the first 6 months of the current consolidated fiscal year, signs of recovery in social and economic activity emerged as restrictions on activity related to COVID-19 were eased. Meanwhile, downside risks to the economy were growing, including higher energy and raw-material costs resulting from instability in international affairs and a sharp depreciation of the yen. Although the outlook remained uncertain, signs of recovery also emerged in the environment surrounding the Group, including a gradual increase in inbound demand.」
While the impact of pandemic-related restrictions on activity eased and signs of recovery emerged in social and economic activity and inbound demand, instability in international affairs, higher costs and a sharp depreciation of the yen newly emerged as specific downside risks. - FY2023-Q1ReframedAnnual report
「Although the outlook remains uncertain due to concerns over the spread of infections caused by new variants and rising prices resulting from developments in international affairs, signs of recovery have emerged in the environment surrounding the Group.」
While the business and other risks section states that there have been no material changes, the discussion of the economic environment points to a gradual recovery from the impact of COVID-19 and identifies new variants and rising prices caused by international affairs as sources of uncertainty. - FY2022RestatedAnnual report
「Depending on how the impact of COVID-19 is brought under control, it is expected that the economy could fall into recession. In the Group's business areas, continued COVID-19-related weakness in hotel demand, including domestic travel, business use and inbound demand, may affect the Group's performance.」
The disclosure continues to identify a prolonged pandemic and weaker domestic travel, business and inbound demand as major external risks. - FY2022-Q2ReframedAnnual report
「However, it will also be necessary to monitor the impact of a renewed spread of COVID-19 caused by new variants and developments in international affairs, and the uncertain situation is expected to continue.」
While maintaining the risk of restrictions on economic activity due to COVID-19, the disclosure adds renewed spread caused by new variants and international affairs as specific matters requiring monitoring. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no newly arising business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
The Company states that no new business or other risks arose and that there were no significant changes to existing risks. - FY2021RestatedAnnual report
「Depending on how the global spread of COVID-19 is brought under control, it is expected that the economy could fall into recession for an extended period.」
The disclosure continues to identify an extended pandemic-driven recession and weaker domestic travel, business-use and inbound demand as major external risks. - FY2021-Q3RestatedAnnual report
「Although economic activity that had been restricted has gradually begun to resume, the recovery has repeatedly moved forward and backward, and the spread of infections overseas has raised concerns that the economic impact will be prolonged.」
The disclosure continues to describe the severe impact of COVID-19 on economic activity and corporate earnings and concerns over a prolonged impact from the spread of infections overseas. It states that there have been no new risks or material changes in business and other risks. - FY2021-Q2RestatedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economy was in an extremely severe situation amid the global spread of COVID-19. Private consumption fell sharply, particularly due to requests from the government and other authorities to suspend operations and refrain from going out. Although economic activity that had been restricted in Japan was gradually resuming, concerns remained that the economic impact of the spread of infections overseas would be prolonged.」
The disclosure continues to describe the decline in private consumption caused by COVID-19 and concerns that the economic impact of the spread of infections overseas will be prolonged. - FY2021-Q1WorsenedAnnual report
「The spread of COVID-19 has led to continued nationwide calls to refrain from going out, affecting the Group's hotels and other facilities through lower occupancy resulting from temporary closures and other measures. Although the state of emergency has been lifted, it remains difficult to accurately predict how the infection will spread or when it will subside. Based on information available when preparing the quarterly consolidated financial statements, the Group therefore made accounting estimates on the assumption that the impact of COVID-19 would continue through the end of the year, followed by a certain degree of recovery in demand. However, if actual developments diverge from this assumption and the impact is prolonged, the Group's financial position and operating results from the second quarter of the current consolidated fiscal year onward may be materially affected. At present, many uncertainties remain, including when COVID-19 will subside, making it difficult to reasonably calculate the amount of the impact.」
The disclosure states that temporary closures and lower occupancy caused by COVID-19 continue, that a prolonged impact could materially affect the financial position and operating results, and that the amount of the impact cannot be reasonably calculated. It presents actual business suspensions and deteriorating performance alongside concerns over a prolonged impact, indicating an increased severity of the risks. - FY2020WorsenedAnnual report
「Since the beginning of this year, the global spread of COVID-19 has caused turmoil in financial markets, a sharp decline in inbound demand and restraint on domestic consumption, resulting in stagnant economic and social activity and a challenging environment for the Group.」
In addition to sluggish consumption and uncertainty in overseas economies, the disclosure adds the sharp decline in inbound demand, restraint on domestic consumption, and stagnation in economic and social activity caused by COVID-19 as specific risk factors. - FY2020-Q3ReframedAnnual report
「During the first 9 months of the current consolidated fiscal year, Japan's economy continued to recover gradually as employment and income conditions improved. However, successive natural disasters and consumption trends following the consumption tax increase raised concerns over downside risks to the economic recovery. Overseas, the outlook remained uncertain due to uncertainty in overseas economies, including the impact of trade issues on the global economy and the outlook for China's economy, as well as the prolonged Japan-South Korea dispute.」
While maintaining the focus on an uncertain outlook, the disclosure identifies natural disasters, consumption trends following the consumption tax increase, trade issues, China's economy and the Japan-South Korea dispute as specific factors. - FY2020-Q2ReframedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economy continued to recover gradually as employment and income conditions improved. However, the outlook remained uncertain due to uncertainty in overseas economies, including concerns over the impact of trade issues on the global economy and prolonged US-China trade friction, as well as a decline in travelers from South Korea and the impact of the consumption tax increase.」
While maintaining the focus on an uncertain outlook, the disclosure newly adds the decline in travelers from South Korea and the impact of the consumption tax increase as specific factors. - FY2020-Q1ReframedAnnual report
「However, the outlook remains uncertain due to uncertainty in overseas economies, including concerns over the impact of trade issues on the global economy and the prolonged US-China trade friction, as well as the psychological impact of an increase in the consumption tax rate.」
While maintaining the focus on an uncertain outlook, the disclosure identifies trade issues, prolonged US-China trade friction and the psychological impact of an increase in the consumption tax rate as specific factors. - FY2019ReframedAnnual report
「After declining in summer 2018 due to the impact of natural disasters, the economy weakened toward the end of the fiscal year. The outlook remains uncertain, amid sluggish exports due to a slowdown in overseas economies and sluggish private consumption.」
While maintaining the focus on an uncertain outlook, the disclosure identifies natural disasters, the slowdown in overseas economies, weak exports and sluggish private consumption as specific factors. - FY2019-Q3ReframedAnnual report
「Meanwhile, overseas, the outlook remains uncertain, amid concerns that US-China trade friction could slow the global economy.」
While maintaining the focus on an uncertain outlook, the disclosure describes US-China trade friction not as a source of concern but as a risk of a slowdown in the global economy. - FY2019-Q2ReframedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economy remained on a gradual recovery path, supported by steady improvements in employment and income conditions. However, concerns arose over a slowdown in the recovery due to stagnant consumption and corporate activity resulting from natural disasters, including the heavy rains in western Japan. Overseas, although concerns over US-China trade friction receded, the outlook remained uncertain.」
While maintaining the focus on an uncertain outlook, the disclosure newly emphasizes a slowdown in the economic recovery due to natural disasters and notes that concerns over US-China trade friction have receded. - FY2019-Q1ReframedAnnual report
「Meanwhile, the outlook remains uncertain, as protectionist US policies are expanding trade friction.」
While maintaining the focus on an uncertain outlook, the disclosure identifies protectionist US policies and the expansion of trade friction as specific factors. - FY2018ReframedAnnual report
「During the consolidated fiscal year under review, Japan's economy remained on a gradual recovery path, as favorable employment and income conditions continued and private consumption recovered, while corporate earnings improved. However, the outlook remained uncertain due to political risks in Europe and the United States and rising geopolitical risks in Asia.」
While describing the economic recovery, the disclosure updated the specific factors behind the uncertain outlook to political risks in Europe and the United States and geopolitical risks in Asia. - FY2018-Q3ReframedAnnual report
「The outlook remains uncertain, as private consumption is subdued due to sluggish growth in real wages, amid US policy developments, rising geopolitical risks and slowing emerging-market economies, particularly in Asia.」
While maintaining the focus on an uncertain outlook, the disclosure identifies sluggish real-wage growth, US policy, geopolitical risks and the slowdown in emerging-market economies as specific factors. - FY2018-Q2ReframedAnnual report
「The outlook remains uncertain, as private consumption continues to be subdued, amid US policy developments, rising geopolitical risks and stagnation in emerging-market economies, particularly in Asia.」
While maintaining the focus on an uncertain outlook, the disclosure identifies US policy developments, geopolitical risks and stagnation in emerging-market economies, particularly in Asia, as specific factors. - FY2018-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy was gradually recovering, supported by improvements in corporate earnings and employment conditions. However, private consumption remained sluggish, and the outlook continued to be uncertain amid growing uncertainty in overseas economies, including slowing emerging-market economies and concerns over unstable political developments in Europe and the United States.」
While maintaining the focus on an uncertain outlook, the disclosure updated the specific factors to include sluggish private consumption, slowing emerging-market economies and concerns over political developments in Europe and the United States. - FY2017ReframedAnnual report
「During the consolidated fiscal year under review, Japan's economy was on a gradual recovery path, supported by economic and financial measures taken by the government and the Bank of Japan, as well as improvements in corporate earnings and employment conditions. However, the outlook remained uncertain, amid sluggish private consumption, slowing economic growth in emerging Asian economies, particularly China, and concerns over the impact on corporate performance of developments involving the EU and the new US administration.」
While maintaining the focus on an uncertain economic environment, the disclosure updated the risk factors to include private consumption, the slowdown in emerging markets, and developments involving the EU and the new US administration. - FY2017-Q3ReframedAnnual report
「The outlook remains uncertain, amid concerns over the UK's withdrawal from the EU and rising uncertainty in the global economy due to the impact of the US presidential election.」
While maintaining global economic uncertainty as the central risk theme, the specific factors cited expanded from the UK's withdrawal from the EU to uncertainty arising from the US presidential election. - FY2017-Q2ReframedAnnual report
「The outlook remains uncertain, amid concerns over the UK's withdrawal from the EU, the slowdown in China's economy and emerging-market economies, and yen appreciation resulting from the slowdown in emerging-market economies.」
While maintaining the focus on an uncertain business and consumption environment, the specific risk factors cited shifted from the Kumamoto Earthquake and other events to the UK's withdrawal from the EU, the Chinese and emerging-market economies, and concerns over yen appreciation. - FY2017-Q1First statedAnnual report
「The impact of the Kumamoto Earthquake and unstable movements in stock prices and exchange rates have kept business sentiment and private consumption subdued, and the outlook remains uncertain.」
The disclosure describes the impact of the Kumamoto Earthquake and unstable stock prices and exchange rates as stagnation in business sentiment and private consumption, explicitly identifying the emergence and impact of risk factors.