Slowdown in China and Emerging-Market Economies and Rising Raw Material and Electricity Costs
First written in FY2017-Q1. 12 of 34 entries say "Restated". Latest entry: 2026-11-05.
Nippon Crucible 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: 162 of 185 companies on the "Worse" side.
58 other companies' latest entry also says "Restated".
- FY2026WorsenedAnnual report
「We recognize that the business environment surrounding our group remains unpredictable, due to domestic and overseas political and economic developments, labor shortages and wage increases, further increases in raw material and fuel prices, and market trends including foreign exchange rates.」
In addition to the previous risks related to raw material prices and foreign exchange rates, the company identified labor shortages and wage increases, further increases in fuel prices, and domestic and overseas political and economic developments as areas requiring monitoring. - 2026-06-03RestatedGeneral Meeting of Shareholders
「Looking ahead, the economy is expected to continue its gradual recovery, partly due to the effects of various policies. However, it will be necessary to closely monitor domestic and overseas political and economic developments, labor shortages and wage increases, and the effects of high prices.」
The Company reaffirmed that domestic and overseas political and economic developments, labor shortages and wage increases, and high prices require close monitoring. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period under review, Japan's economy continued its moderate recovery. Looking ahead, the economy is expected to continue its moderate recovery, partly as a result of various policy measures. However, it is necessary to closely monitor developments in domestic and overseas politics and economies, labor shortages and wage increases, and the impact of high prices.」
While expecting an economic recovery, the company identified domestic and overseas political and economic developments, labor shortages and wage increases, and the impact of high prices as new areas requiring monitoring. - FY2025-H1RestatedAnnual report
「Looking ahead, the economy is expected to continue its moderate recovery, partly as a result of various policy measures. However, it is necessary to closely monitor risks such as rising prices and foreign exchange fluctuations.」
While expecting an economic recovery, the company continues to closely monitor rising prices and foreign exchange fluctuations as risks for the outlook. - FY2024-Q3External demand weakness and the risk of declining exports identifiedAnnual report
「During the cumulative third quarter under review, Japan's economy continued its moderate recovery as corporate business sentiment improved. Looking ahead, the economy is expected to continue its moderate recovery, partly as a result of lower resource prices and various policy measures. However, it is necessary to closely monitor risks such as declining exports due to weak external demand and foreign exchange fluctuations.」
While expecting an economic recovery, the company identified declining exports due to weak external demand as a risk for the outlook, in addition to the previous risks related to prices and raw material and fuel prices. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy continued its moderate recovery, supported by a recovery in production and exports. Looking ahead, the economy is expected to continue its moderate recovery, partly as a result of various policy measures. However, it is necessary to closely monitor risks such as rising prices and foreign exchange fluctuations.」
While indicating economic improvement driven by the recovery in production and exports, the company continues to closely monitor rising prices and foreign exchange fluctuations as risks for the outlook. - FY2024-Q1Economic improvement, but raw material and fuel price and foreign exchange risks persistAnnual report
「During the cumulative first quarter under review, Japan's economy showed a generally moderate improvement in corporate earnings, as the automotive-related industries turned positive following an easing of parts shortages and the materials industries also recovered in response to lower resource prices. Looking ahead, the economy is expected to continue its moderate recovery, partly as a result of various policy measures. However, it is necessary to closely monitor risks such as higher raw material and fuel prices and foreign exchange fluctuations.」
While corporate earnings and the economy showed moderate improvement, higher raw material and fuel prices and foreign exchange fluctuations were identified as risks requiring continued monitoring. - FY2023-Q3RestatedAnnual report
「Looking ahead, the economy is expected to move toward recovery, partly as a result of various policy measures. However, it is necessary to closely monitor risks including a prolonged Russia-Ukraine situation, higher raw material and fuel prices, sharp foreign exchange fluctuations and infection trends in China.」
The Russia-Ukraine situation, raw material and fuel prices, foreign exchange fluctuations and infection trends in China remain areas of concern for the outlook. - FY2023-Q2MaterialisedAnnual report
「Looking ahead, the economy is expected to recover, partly as a result of various policy measures. However, it is necessary to closely monitor risks including a prolonged Russia-Ukraine situation, further increases in raw material and fuel prices, and sharp foreign exchange fluctuations.」
The prolonged Russia-Ukraine situation, further increases in raw material and fuel prices, and sharp foreign exchange fluctuations have continued and become more concrete as risks for the future. In addition, higher raw material prices and the rapid depreciation of the yen materialized as factors behind declines in operating profit and other items. - FY2023-Q1WorsenedAnnual report
「Looking ahead, the economy is expected to recover, partly as a result of various policy measures. However, conditions require close monitoring of risks such as further increases in raw material prices and foreign exchange volatility, including the rapid depreciation of the yen.」
While indicating expectations for an economic recovery, the company identified further increases in raw material prices and the rapid depreciation of the yen and foreign exchange volatility as new areas of concern. - FY2022WorsenedAnnual report
「We recognize that the business environment surrounding our group remains challenging, due to the economic downturn resulting from the expanding impact of COVID-19, concerns over higher raw material prices and supply chain disruptions caused by the situation in Ukraine and other factors, and the rapid depreciation of the yen.」
In addition to the previous concerns over infectious diseases, the Chinese economy and raw material prices, the situation in Ukraine, supply chain disruptions and the rapid depreciation of the yen were identified as new factors contributing to deterioration. - FY2022-Q3WorsenedAnnual report
「Although a recovery in business performance is expected to continue, supported by the effects of various policies, uncertainty is expected to persist due to downside risks from persistently high raw material prices and a resurgence of COVID-19 infections.」
While expressing expectations for a recovery in business performance, the company explicitly identifies downside risks from persistently high raw material prices and a resurgence of infections as sources of uncertainty about the outlook. - FY2022-Q2Economic conditions are improving, but concerns over supply-chain-driven downside risks persistAnnual report
「During the six-month period ended [the second quarter], Japan's economy remained difficult as the impact of COVID-19 expanded, but economic sentiment improved against a backdrop of higher exports accompanying the recovery in overseas economies. Business performance is expected to improve on the back of a global economic recovery, but uncertainty is expected to persist amid concerns over downside risks to the economy through supply chains.」
Although the pandemic continued to create difficult conditions, economic sentiment improved as overseas economies recovered and exports increased. Going forward, downside risks to the economy through supply chains have newly emerged as a specific concern, and uncertainty persists. - FY2022-Q1Economic conditions are improving, but uncertainty persists amid a resurgence of infectionsAnnual report
「During the three-month period ended [the first quarter], Japan's economy remained in a difficult situation due to the impact of COVID-19, but sentiment improved, particularly in manufacturing, while exports increased and production continued to recover. Business performance is expected to improve on the back of higher exports, but uncertainty is expected to persist due to concerns over the impact of a resurgence of infections on social and economic activity.」
Although sentiment in manufacturing, exports and production have improved, uncertainty about the outlook persists due to concerns over a resurgence of infections. - FY2021-Q3Signs of an economic recovery, but the pace of improvement remains slowAnnual report
「During the nine-month period ended [the third quarter], Japan's economy remained in a difficult situation, mainly due to the impact of COVID-19, but the decline in corporate earnings narrowed as exports increased and production recovered. The outlook is for continued improvement as the impact of the pandemic gradually eases, although improvement is expected to remain moderate due to continued caution regarding COVID-19.」
The decline in corporate earnings narrowed as exports increased and production recovered, but improvement is expected to remain moderate due to caution regarding COVID-19. - FY2021-Q2WorsenedAnnual report
「Although business conditions have improved slightly and there have been signs of a recovery, including the resumption of factory operations, the economic outlook remains extremely uncertain amid concerns over a resurgence of infections.」
Although corporate conditions and factory operations have shown signs of recovery, the economic outlook is considered extremely uncertain due to concerns over a resurgence of infections. - FY2020MaterialisedAnnual report
「Operating profit was ¥386 million, down 30.8% year on year, and ordinary profit was ¥412 million, down 31.5%. The main factors behind the decline in profit were lower sales of relatively high-margin products in both the casting and steel markets and the continued persistently high prices of key raw materials.」
Persistently high prices for key raw materials continued, contributing to declines in operating profit and ordinary profit along with lower sales of high-margin products. - FY2020-Q3WorsenedAnnual report
「Although the effects of various policies are expected to support the economy, companies have become more cautious in assessing business conditions against a backdrop of weak exports. In addition, major concerns include U.S.-China trade friction, the impact of COVID-19 and the outlook for the Chinese economy, leaving conditions extremely uncertain.」
In addition to weak exports, cautious business assessments among manufacturers and U.S.-China trade friction, COVID-19 and the outlook for the Chinese economy have emerged as major concerns, further intensifying uncertainty. - FY2020-Q2WorsenedAnnual report
「A moderate recovery is still expected, supported by the effects of various policies. However, companies, particularly manufacturers, have become more cautious in assessing business conditions, and concerns over U.S.-China trade friction and a slowdown in the Chinese economy have further increased uncertainty.」
The company states that corporate assessments of business conditions have become more cautious, particularly in manufacturing, while U.S.-China trade friction and the slowdown in the Chinese economy have further increased uncertainty. - FY2020-Q1MaterialisedAnnual report
「In terms of earnings, operating profit was ¥141 million, down 12.7% year on year, ordinary profit was ¥156 million, down 9.9%, and profit attributable to owners of the parent was ¥100 million, down 10.2%, due mainly to persistently high raw material prices and other factors.」
The previously identified external-environment risk of higher raw material prices has materialized in the form of persistently high prices and declines in operating profit, ordinary profit and quarterly net profit. - FY2019RestatedAnnual report
「During the fiscal year, Japan's economy followed a moderate recovery trend against a backdrop of solid corporate earnings. However, the outlook remains uncertain, as companies, particularly manufacturers, have become more cautious in assessing business conditions due to the effects of U.S.-China trade friction and concerns over a slowdown in the Chinese economy.」
The company continues to identify U.S.-China trade friction and a slowdown in the Chinese economy as factors contributing to an uncertain outlook, particularly for manufacturers. - FY2019-Q3MaterialisedAnnual report
「The refractory materials and related business reported sales of ¥4,804 million (67.2% of total sales), up 9.2% year on year, but operating profit declined 0.4% to ¥465 million due to higher raw material prices and other factors.」
The company cited concerns over a prolonged period of U.S.-China trade friction and a slowdown in the Chinese economy, while higher raw material prices actually reduced operating profit in the refractory materials and related business. - FY2019-Q2RestatedAnnual report
「Although concerns remain over an escalation of U.S.-China trade friction, the economic recovery is expected to continue, supported in part by improvements in employment and income conditions.」
The company identifies intensifying U.S.-China trade friction as a concern regarding the economic outlook, but states that there have been no significant changes to the risks described in the securities report for the previous fiscal year. - FY2019-Q1RestatedAnnual report
「Domestic crude steel production increased slightly year on year, but China's crude steel production continues to rise, and the outlook remains unpredictable amid trade issues, including U.S. restrictions on steel imports.」
The company continues to identify China's rising crude steel production and trade issues, including U.S. restrictions on steel imports, as external-environment concerns. - FY2018RestatedAnnual report
「Although concerns remain over protectionist U.S. economic policy and rising raw material prices, economic conditions are expected to remain generally favorable, supported by firm domestic and overseas demand.」
The company continues to identify U.S. economic policy and rising raw material prices as areas of concern. - FY2018-Q3RestatedAnnual report
「There are concerns over the impact of U.S. economic policy and geopolitical risks surrounding North Korea, but the economy is expected to continue recovering moderately.」
The company continues to express concerns over the overseas environment, including U.S. economic policy and geopolitical risks surrounding North Korea. - FY2018-Q2Explicit identification of geopolitical risks surrounding North KoreaAnnual report
「Uncertainty remains over overseas economic conditions, including U.S. economic policy and geopolitical risks surrounding North Korea, and the outlook for the economy remains subject to caution.」
In addition to the previously cited uncertainty over overseas economic conditions and U.S. policy, the company specifically identifies geopolitical risks surrounding North Korea. - FY2018-Q1WorsenedAnnual report
「Uncertainty remains over overseas economic conditions, including U.S. economic policy and conditions in emerging markets. There are also concerns that capital investment may slow after domestic demand has run its course, prompting continued caution regarding the economic outlook. In the steel industry, domestic crude steel production was roughly flat year on year, while difficult conditions continue amid higher steelmaking raw material prices and China's record-high crude steel production.」
In addition to uncertainty over overseas economic conditions and capital investment, the company identifies higher steelmaking raw material prices and record-high crude steel production in China, indicating that external-environment risks have intensified. - FY2017RestatedAnnual report
「In the steel industry, domestic crude steel production exceeded the previous year's level as demand from construction, automobiles and other sectors expanded, and the prolonged downturn showed signs of easing. However, difficult conditions continue due to stagnant steel demand resulting from slower growth in some emerging markets and fluctuations in raw material costs.」
External-environment risks, including slower growth in emerging markets and fluctuations in raw material costs, persist. The risk disclosures also explicitly identify raw material price and foreign-exchange volatility, given the high dependence on overseas markets, as well as potential electricity supply shortages. - FY2017-Q3Economic uncertainty and the emergence of surging coking coal pricesAnnual report
「However, the recovery in capital investment has stalled, and uncertainty over U.S. policy management has also led to a generally cautious outlook for the economy. In the steel industry, domestic crude steel production was roughly unchanged from the previous year, but difficult conditions continue due to China's persistently high crude steel production and higher production costs resulting from surging coking coal prices.」
In addition to the stalling of capital investment and uncertainty over U.S. policy management, the company points to higher steel production costs resulting from China's high production levels and surging coking coal prices. - FY2017-Q2A shift in the direction of exchange-rate riskAnnual report
「However, the recovery in capital investment has stalled, and concerns have emerged over the impact of the stronger yen on exports, leaving the economic outlook uncertain.」
Unlike the previously cited risk of higher raw material prices caused by yen depreciation, this time the company identifies the impact of yen appreciation on exports and the stalling of capital investment as economic risks. - FY2017-Q1First statedAnnual report
「The outlook remains uncertain due to the slowdown in China and emerging-market economies, higher raw material prices resulting from the weaker yen, and increases in electricity rates, among other factors. The company will continue to respond flexibly to change and work to enhance corporate value.」
The company identifies overseas economic conditions, exchange-rate-driven raw material prices and electricity rates as sources of uncertainty in the business environment.