Concerns over Stagnant Personal Consumption and Downside Risks to Overseas Economies
First written in FY2017-Q1. 17 of 33 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 139 of 156 companies on the "Worse" side.
53 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In addition, against a backdrop of developments in Ukraine and the Middle East, heightened tensions in US-China relations in the Asia-Pacific region and the impact of US trade policy, geopolitical risks increased and uncertainty in the global economy grew.」
Economic uncertainty arising from geopolitical tensions, US trade and tariff policy, the weaker yen, commodity and energy prices, and the slowdown in the Chinese economy continues to be stated. - 2026-08-10RestatedEarnings forecast revision
「On the other hand, against a backdrop of rising prices and interest rates and sluggish growth in real wages, consumer spending remained cautious, and economic conditions continued to lack strength.」
Rising prices and interest rates, sluggish real wage growth and cautious consumer spending continue to be cited as concerns in the economic environment. - FY2026-H1Capital investment remains firm, but inflation, geopolitical and U.S. tariff risks persistAnnual report
「On the other hand, personal consumption showed somewhat cautious movement against a backdrop of rising prices and sluggish real wage growth, and the economy continued to lack strength. In addition, higher labor costs and increases in various costs, including energy costs, are weighing on corporate earnings and household finances. Furthermore, geopolitical risks have increased due to heightened tensions in Ukraine and the Middle East, US-China confrontation in the Asia-Pacific region, the slowdown in China's economy and developments in US trade policy, increasing uncertainty in the global economy. In addition, cautious views of the domestic economic outlook are strengthening due to persistently high import prices resulting from prolonged yen depreciation and the impact of US tariff policy on export-related industries, and uncertainty continues.」
Capital investment remained firm, while uncertainty continued due to rising prices, sluggish real wage growth, labor and energy costs, the slowdown in China's economy, and US trade and tariff policies. - FY2025Signs of recovery alongside geopolitical, inflation and China slowdown risksAnnual report
「Inbound demand remained strong, and personal consumption also showed a gradual recovery trend, with the economy showing signs of recovery. On the other hand, heightened geopolitical risks, including the prolonged conflicts in Ukraine and the Middle East, US-China confrontation in the Asia-Pacific region and policy developments under the new US administration, are further increasing uncertainty in the global economy.」
It describes signs of recovery in personal consumption and other areas, while listing geopolitical risks, policies under the new US administration, yen depreciation and higher prices, and a slowdown in China's economy as factors contributing to uncertainty. - FY2025-H1Signs of recovery alongside geopolitical, inflation and stagnation risks in ChinaAnnual report
「During the current interim consolidated fiscal period, inbound demand remained strong and personal consumption also showed a gradual recovery trend, with the economy showing signs of recovery after emerging from a pause. Companies' appetite for investment in digitalization and decarbonization also remained strong, particularly in manufacturing, where capital investment increased. On the other hand, geopolitical risks, including the prolonged conflicts in Ukraine and the Middle East, US-China confrontation in the Asia-Pacific region and policy developments under the new US administration, are increasing uncertainty in the global economy. In addition, domestic economic concerns remain numerous, including high prices due to prolonged yen depreciation and rising inflation, sluggish real wage growth and stagnation in China's economy, and uncertainty about the outlook continues.」
It describes the recovery or increase in inbound demand, personal consumption and capital investment, while listing international tensions, yen depreciation and inflation, real wages, and stagnation in China's economy as factors contributing to uncertainty. - FY2025-H1Signs of recovery alongside geopolitical, inflation and stagnation risks in ChinaAnnual report
「During the current interim consolidated fiscal period, inbound demand remained strong and personal consumption also showed a gradual recovery trend, with the economy showing signs of recovery after emerging from a pause. Companies' appetite for investment in digitalization and decarbonization also remained strong, particularly in manufacturing, where capital investment increased. On the other hand, geopolitical risks, including the prolonged conflicts in Ukraine and the Middle East, US-China confrontation in the Asia-Pacific region and policy developments under the new US administration, are increasing uncertainty in the global economy. In addition, domestic economic concerns remain numerous, including high prices due to prolonged yen depreciation and rising inflation, sluggish real wage growth and stagnation in China's economy, and uncertainty about the outlook continues.」
It describes the recovery or increase in inbound demand, personal consumption and capital investment, while listing the situations in Ukraine and the Middle East, US-China confrontation, the new US administration, yen depreciation and inflation, real wages, and stagnation in China's economy as factors contributing to uncertainty. - FY2024-Q3Factors contributing to uncertainty, including inflation, international tensions and a slowdown in ChinaAnnual report
「During the first nine months of the current consolidated fiscal year, post-pandemic lifestyles became established and social and economic activity increased, while domestic demand, including inbound tourism, showed signs of expansion. However, the economic recovery has stalled due in part to weaker consumption caused by higher prices, lower production in the automotive industry and the effects of the earthquake. In addition, concerns over international tensions, including the situations in Ukraine and the Middle East, have increased. Together with soaring energy and other prices caused by prolonged yen depreciation and the slowdown in China's economy, these factors are raising concerns about their impact on the domestic economy, and uncertainty about the outlook remains.」
It lists higher prices, lower production in the automotive industry, the earthquake, the situations in Ukraine and the Middle East, yen depreciation and the slowdown in China's economy as new factors contributing to uncertainty, while noting expansion in social and economic activity and domestic demand. - FY2024-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, the transition of the novel coronavirus to Category 5 under Japan's infectious disease classification system revitalized social and economic activity, and domestic demand, including inbound tourism, showed signs of recovery. However, concerns over international tensions have increased due to the prolonged situation in Ukraine and intensifying US-China friction. In addition, concerns about an economic slowdown continue due to soaring energy and other prices caused by prolonged yen depreciation, and uncertainty about the outlook remains.」
It continues to describe signs of recovery in social and economic activity and domestic demand, while indicating concerns about an economic slowdown and uncertainty about the outlook due to the situation in Ukraine, US-China friction, and soaring energy and other prices caused by yen depreciation. - FY2024-Q1International tensions and concerns over inflation driven by yen depreciation continue after the impact of the pandemic has easedAnnual report
「The transition of the novel coronavirus to Category 5 under Japan's infectious disease classification system revitalized social and economic activity, and domestic demand, including inbound tourism, showed signs of recovery. However, concerns over international tensions have increased due to the prolonged situation in Ukraine and intensifying US-China friction. In addition, concerns about an economic slowdown continue due to soaring energy and other prices caused by prolonged yen depreciation, and uncertainty about the outlook remains.」
It describes the recovery in social and economic activity and domestic demand following the transition of the novel coronavirus to Category 5, while identifying the situation in Ukraine, US-China friction, and soaring energy and other prices due to yen depreciation as factors contributing to uncertainty. - FY2023RestatedAnnual report
「During the current consolidated fiscal year, restrictions on activity related to the novel coronavirus were gradually eased, and signs of a recovery emerged in employment, personal consumption and capital investment. However, uncertainty about the outlook continues due to the prolonged situation in Ukraine, soaring raw material prices and sharp foreign exchange fluctuations.」
It describes a recovery in economic activity alongside uncertainty due to the situation in Ukraine, raw material prices and foreign exchange fluctuations. - FY2023-Q3RestatedAnnual report
「During the first nine months of the current consolidated fiscal year, restrictions on activity were eased despite the impact of the novel coronavirus, and the economy began to show signs of a gradual recovery. However, uncertainty about the outlook continues due to the situation in Ukraine, soaring raw material prices and sharp foreign exchange fluctuations.」
It continues to describe the easing of restrictions on activity and signs of an economic recovery, while indicating uncertainty about the outlook due to the situation in Ukraine, soaring raw material prices and sharp foreign exchange fluctuations. - FY2023-Q2Easing of the impact of the pandemic alongside raw material and foreign exchange risksAnnual report
「During the first six months of the current consolidated fiscal year, restrictions on activity were eased despite the impact of the novel coronavirus, and the economy began to show signs of a gradual recovery. However, uncertainty about the outlook continues due to the situation in Ukraine, soaring raw material prices and sharp foreign exchange fluctuations.」
It describes the easing of restrictions on activity and a recovery in the economy, while identifying the situation in Ukraine, soaring raw material prices and sharp foreign exchange fluctuations as new factors contributing to uncertainty. - FY2023-Q1Easing of the impact of the pandemic alongside concerns over yen depreciation and an economic slowdownAnnual report
「During the first three months of the current consolidated fiscal year, signs of progress toward normalizing social and economic activity emerged as the number of infections declined. However, the end of the pandemic remains unforeseeable, while concerns about an economic slowdown due to the situation in Ukraine and rapid yen depreciation have intensified, and uncertainty about the outlook continues.」
It describes signs of progress toward normalizing social and economic activity as the number of infections declines, while indicating that the pandemic has not yet ended and that concerns about an economic slowdown due to the situation in Ukraine and rapid yen depreciation have intensified. - FY2022-Q3WorsenedAnnual report
「During the first nine months of the current consolidated fiscal year, some signs of a recovery in corporate capital investment emerged. However, uncertainty about the outlook continues due to the spread of infections caused by new variants of the novel coronavirus and soaring crude oil and other prices accompanying the further deterioration of the situation in Ukraine.」
It newly identifies new variants of the novel coronavirus, the further deterioration of the situation in Ukraine, and soaring crude oil and other prices as factors contributing to uncertainty about the outlook. - FY2022-Q2WorsenedAnnual report
「During the first six months of the current consolidated fiscal year, some signs of a recovery in corporate capital investment emerged. However, uncertainty about the outlook continues, including due to the spread of infections caused by new variants of the novel coronavirus.」
Some recovery in capital investment was seen, while the spread of infections caused by new variants was an additional factor, and uncertainty about the outlook continues. - FY2022-Q1SoftenedAnnual report
「During the first three months of the current consolidated fiscal year, Japan's economy remained uncertain due to the impact of the novel coronavirus. However, some signs of a recovery in corporate capital investment have emerged, and a gradual, phased recovery is expected, supported by the effects of various policies, including the promotion of vaccinations, and improvements in overseas economies.」
It describes expectations of a gradual, phased recovery, supported by some recovery in capital investment, the effects of policy measures and improvements in overseas economies, while uncertainty due to the novel coronavirus remains. - FY2021RestatedAnnual report
「During the current consolidated fiscal year, economic activity was constrained by the global spread of the novel coronavirus, and the economy remained in an extremely difficult overall situation, including a decline in corporate earnings and personal consumption and deterioration in the employment and income environment. The timing of the end of the spread of infections remains unforeseeable, and uncertainty about the outlook continues.」
It continues to indicate the adverse effects of the novel coronavirus on economic activity, corporate earnings, personal consumption, and the employment and income environment, as well as uncertainty about the outlook. - FY2021-Q3RestatedAnnual report
「During the first nine months of the current consolidated fiscal year, economic activity was constrained by the global spread of the novel coronavirus, and the economy remained in an extremely difficult overall situation, including a decline in corporate earnings and personal consumption and deterioration in the employment and income environment. The timing of the end of the spread of infections remains unforeseeable, and uncertainty about the outlook continues.」
It continues to indicate the adverse effects of the novel coronavirus on economic activity, corporate earnings, personal consumption, and the employment and income environment, as well as uncertainty about the outlook. - FY2021-Q1WorsenedAnnual report
「During the first three months of the current consolidated fiscal year, economic activity was constrained by the global spread of the novel coronavirus, and the economy remained in an extremely difficult overall situation, including a decline in corporate earnings and personal consumption and deterioration in the employment and income environment. Even after the lifting of the state of emergency, the end of the spread of infections remains unforeseeable, and uncertainty about the outlook continues.」
The description has changed to state that the novel coronavirus has worsened economic activity, corporate earnings, personal consumption, and the employment and income environment, and that uncertainty about the outlook continues. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a gradual recovery trend in the first half, supported by improvements in corporate earnings and the employment and income environment. However, uncertainty about the outlook increased further as the situation became markedly more confused from the beginning of the year due to the prolonged US-China trade friction and the slowdown in the European economy, as well as the spread of the novel coronavirus.」
It states that uncertainty about the outlook increased further due to the US-China trade friction, the slowdown in the European economy and the spread of the novel coronavirus. - FY2020-Q3WorsenedAnnual report
「During the first nine months of the current consolidated fiscal year, Japan's economy generally remained on a gradual recovery trend, supported by improvements in corporate earnings and the employment and income environment. However, uncertainty about the outlook has increased due to the prolonged US-China trade friction and the slowdown in the European economy, as well as the spread of the novel coronavirus.」
It states that uncertainty about the outlook increased due to the US-China trade friction, the slowdown in the European economy and the spread of the novel coronavirus. - FY2020-Q2RestatedAnnual report
「Meanwhile, uncertainty persists due to the U.S.-China trade dispute, the UK's Brexit issue and rising geopolitical risks in neighboring countries.」
The disclosure continues to indicate uncertainty over the outlook due to the U.S.-China trade dispute, the UK's Brexit issue and geopolitical risks in neighboring countries. - FY2020-Q1RestatedAnnual report
「Meanwhile, uncertainty persists due to the U.S.-China trade dispute, the UK's Brexit issue and rising geopolitical risks in neighboring countries.」
The disclosure continues to indicate uncertainty over the outlook due to the U.S.-China trade dispute, the UK's Brexit issue and geopolitical risks in neighboring countries. - FY2019RestatedAnnual report
「Meanwhile, the recovery in household consumption remains sluggish, while concerns over a slowdown in the global economy have intensified due to U.S.-China trade friction, the UK's Brexit issue and other factors, leaving the outlook uncertain.」
The disclosure continues to identify the slowing recovery in household consumption and concerns over a slowdown in the global economy due to U.S.-China trade friction and the UK's Brexit issue as risks. - FY2019-Q3RestatedAnnual report
「Meanwhile, the recovery in household consumption remains sluggish, while concerns over a slowdown in the global economy have intensified due to U.S.-China trade friction, the UK's Brexit issue and other factors, leaving the outlook uncertain.」
The disclosure continues to indicate concerns over a slowdown in the global economy due to the slowing recovery in household consumption, U.S.-China trade friction and the UK's Brexit issue. - FY2019-Q2WorsenedAnnual report
「Meanwhile, the recovery in household consumption remains sluggish, while concerns over a slowdown in the global economy have intensified due to U.S.-China trade friction and other factors, leaving the outlook uncertain.」
The disclosure has shifted to indicate that, in addition to the slowing recovery in household consumption, concerns over a slowdown in the global economy due to U.S.-China trade friction and other factors have intensified. - FY2019-Q1RestatedAnnual report
「Meanwhile, the recovery in household consumption remains sluggish, and the international situation, including the United States' protectionist trade policies and rising geopolitical risks, has left the outlook uncertain.」
The disclosure continues to indicate uncertainty over the outlook due to the slowing recovery in household consumption, the United States' protectionist trade policies and geopolitical risks. - FY2018-Q3RestatedAnnual report
「Meanwhile, uncertainty persists, with concerns over the impact of overseas political and economic developments, including uncertainty in overseas economies and rising geopolitical tensions.」
The disclosure continues to indicate uncertainty over the outlook due to uncertainty in overseas economies, geopolitical tensions and overseas political and economic developments. - FY2018-Q2RestatedAnnual report
「Meanwhile, uncertainty persists, with concerns over the impact of overseas political and economic developments, including uncertainty in overseas economies and rising geopolitical tensions.」
The disclosure continues to indicate uncertainty over the outlook due to uncertainty in overseas economies, geopolitical tensions and overseas political and economic developments. - FY2018-Q1RestatedAnnual report
「Meanwhile, uncertainty persists, with concerns over the impact of overseas political and economic developments, including uncertainty in overseas economies and rising geopolitical tensions.」
The disclosure continues to cover uncertainty over the outlook due to uncertainty in overseas economies and geopolitical tensions. - FY2017-Q3RestatedAnnual report
「During the cumulative nine-month period under review, Japan's economy remained on a gradual recovery track overall, supported by improving employment and income conditions against the backdrop of government economic policies and other factors. However, household consumption remained weak for an extended period, while uncertainty surrounding the policies of the new U.S. administration and political developments in Europe continued to leave the economy exposed to downside risks.」
The disclosure continues to cover the prolonged weakness in household consumption and downside risks from political developments in the United States and Europe. - FY2017-Q2RestatedAnnual report
「Meanwhile, the prolonged weakness in household consumption and uncertainty surrounding the policies of the incoming U.S. president and political developments in Europe leave the economy exposed to downside risks.」
The disclosure continues to indicate downside risks from weak household consumption and overseas political and economic developments. - FY2017-Q1First statedAnnual report
「Household consumption remains in an uncertain situation, as the recovery in consumer sentiment has stalled and concerns over downside risks to overseas economies, particularly emerging economies, have increased.」
The disclosure identifies the stalled recovery in domestic consumption and downside risks to overseas economies as factors contributing to the uncertain outlook.