Domestic economic recovery driven by a recovery in global economic conditions
First written in FY2018-Q1. 8 of 32 entries say "Restated". Latest entry: 2026-11-13.
Nippon Shindo moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 7 of 19 companies on the "Worse" side.
0 other companies' latest entry also says "Worsened".
- 2026-11-13WorsenedResults
「当中間会計期間における世界経済は、ホルムズ海峡が実質的に封鎖されたことを背景に、原油価格が急騰し、国内では石油化学製品の基礎原料であるナフサの供給が逼迫する等したため、幅広い産業で原材料の調達難やコスト上昇への対応に追われました。」
ホルムズ海峡の実質的な封鎖を背景とする原油価格急騰、原材料調達難、コスト上昇が事業環境として記載された。 - FY2026WorsenedAnnual report
「During the fiscal year under review, the global economy was disrupted as the United States advocated an "America First" policy and aggressively pursued protectionist trade policies. In addition, the United States and Israel attacked Iran on 28 February 2026, resulting in the closure of the Strait of Hormuz. In Japan, prices rose because resource and energy prices increased. The policy rate rose to 0.75% for the first time in 30 years.」
In addition to disruption to the global economy caused by protectionist trade policies, the disclosure describes the closure of the Strait of Hormuz due to the situation in the Middle East, increases in resource and energy prices, and the policy rate rising to 0.75%, indicating increasing pressure from the external environment. - FY2026-H1Protectionism; EV demand slows; high prices; construction delaysAnnual report
「During the interim accounting period under review, trade and investment in various countries were disrupted as the United States shifted to protectionist trade policies. EV demand also slowed. In Japan, consumer prices rose, including because rice prices remained high. In the construction industry, shortages of workers and soaring material costs led to postponed construction starts and delays to construction schedules. The price of copper, an internationally traded commodity and a principal raw material for the Company, remained at a high level.」
For the global economy, the disclosure describes disruption to trade and investment caused by protectionist trade policies and a slowdown in EV demand. Domestically, it describes rising prices, postponed construction starts and construction delays caused by labor shortages and soaring material costs in the construction industry. - FY2025Copper benchmark price reaches record high; prices and wages riseAnnual report
「During the fiscal year under review, inbound demand from foreign tourists recovered because the yen was weak, but consumer prices rose as import prices for food and raw materials increased. Wages also rose as competition for hiring intensified. The benchmark price of copper, an internationally traded commodity and a principal raw material for the Company, reached a record high of ¥1.75 million per tonne on 21 May 2024.」
While inbound demand recovered due to yen depreciation, the business environment is described as involving increases in import prices, consumer prices and wages, as well as the copper benchmark price reaching a record high. - FY2025-H1China's economy remains weak; copper benchmark price falls after sharp surgeAnnual report
「During the interim accounting period under review, the war between Russia and Ukraine continued in Europe, while wars involving Israel and Hamas and others continued in the Middle East. China's economy also remained weak. In Japan, consumer prices and wages rose. The benchmark price of copper, an internationally traded commodity, surged in May but had returned to its level at the beginning of the period by August.」
In addition to the prolonged wars and weakness in China's economy, the business environment is described as involving increases in domestic consumer prices and wages, and a temporary sharp rise followed by a decline in the copper benchmark price. - FY2024RestatedAnnual report
「During the fiscal year under review, prices rose and monetary tightening was implemented in other countries. In addition, the prolonged war in Ukraine caused energy prices to surge. Military conflict between Israel and the Islamic organization Hamas has continued since 7 October 2023. In Japan, the yen weakened in the foreign exchange market and prices rose. Electricity rates also surged because the restart of nuclear power plants was delayed. The government's COVID-19 infection-control measures that had continued for more than 3 years were lifted, and economic activity gradually normalized.」
While monetary tightening, the war in Ukraine, surging energy prices, yen depreciation and surging electricity rates continued, the disclosure reconfirms the normalization of economic activity after the COVID-19 measures were lifted. - FY2024-Q3Middle East military conflict added; electricity rates continue to surgeAnnual report
「During the cumulative third quarter under review, prices rose and monetary tightening was implemented in other countries. In addition, the prolonged war in Ukraine caused energy prices to surge. Military conflict between Israel and the Islamic organization Hamas has continued since 7 October 2023. In Japan, the yen weakened due to the interest-rate differential between Japan and other countries, and prices rose. Electricity rates also surged because the restart of nuclear power plants was delayed. As COVID-19 was reclassified as a Class 5 disease under the Infectious Diseases Control Law, the government's infection-control measures that had continued for more than 3 years were lifted, and economic activity gradually normalized.」
While monetary tightening, the prolonged war in Ukraine, surging energy prices, yen depreciation and surging electricity rates continued, military conflict between Israel and Hamas was newly reported. The disclosure also reconfirms the normalization of economic activity after the COVID-19 measures were lifted. - FY2024-Q2Electricity rates surge; economic activity normalizesAnnual report
「In Japan, the yen weakened due to the interest-rate differential between Japan and other countries. In addition, electricity rates surged because the restart of nuclear power plants was delayed. As COVID-19 was reclassified as a Class 5 disease under the Infectious Diseases Control Law, the government's COVID-19 measures that had continued for more than 3 years were lifted, and economic activity gradually normalized.」
While yen depreciation and surging electricity rates continued, the disclosure states that economic activity gradually normalized after the COVID-19 measures were lifted. - FY2024-Q1COVID-19 measures lifted; economic activity normalizes; yen depreciation continuesAnnual report
「During the cumulative first quarter under review, monetary tightening and other measures continued in other countries, and the yen weakened in the foreign exchange market. In Japan, COVID-19 was reclassified as a Class 5 disease under the Infectious Diseases Control Law on 8 May, the government's COVID-19 measures that had continued for more than 3 years were lifted, and economic activity normalized.」
While monetary tightening in other countries and yen depreciation continued, the disclosure states that domestic economic activity normalized after COVID-19 was reclassified as a Class 5 disease and the government's measures were lifted. - FY2023WorsenedAnnual report
「During the fiscal year under review, monetary tightening progressed in other countries, several US banks including Silicon Valley Bank failed, and UBS announced in Europe that it would rescue and merge with Credit Suisse. In Japan, the Bank of Japan continued monetary easing, causing the yen to weaken in the foreign exchange market due to the interest-rate differential between Japan and other countries. The prolonged war in Ukraine caused electricity and energy prices to surge, resulting in a 10% increase in domestic corporate prices and a 4% increase in consumer prices.」
In addition to the previous yen depreciation, high resource prices and supply constraints, the disclosure describes worsening financial conditions, including monetary tightening, US bank failures, and UBS's rescue merger with Credit Suisse, as well as increases of 10% in domestic corporate prices and 4% in consumer prices. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter under review, the yen weakened in the foreign exchange market due to the interest-rate differential between Japan and other countries, as the Bank of Japan continued monetary easing while monetary tightening progressed globally, reaching ¥150 to the US dollar in October. In China, infections spread rapidly nationwide after the zero-COVID policy was changed. Prolonged difficulty procuring parts from overseas and semiconductor shortages constrained production activity in various industries, including automobiles. In addition, the prolonged war in Ukraine caused electricity and energy prices to surge, resulting in a 10% increase in domestic corporate prices and a 4% increase in consumer prices.」
The yen weakened to ¥150 to the US dollar, while rapid spread of infections in China, prolonged difficulty procuring parts and semiconductor shortages, the prolonged war in Ukraine, and inflation rates of 10% and 4% were reported, indicating that pressure from the business environment had become more concrete and expanded. - FY2023-Q2Seventh wave; prolonged difficulty procuring parts; yen depreciation and rising prices continueAnnual report
「During the cumulative second quarter under review, Japan was hit by the seventh wave of COVID-19, but priority was given to maintaining economic activity because the Omicron variant, although highly transmissible, carried a low risk of severe illness. Difficulty procuring semiconductors and parts from overseas continued for an extended period, causing production disruptions in various industries, including automobiles. In addition, the prolonged war in Ukraine and resulting high resource and energy prices caused domestic corporate prices to continue rising, and consumer prices also increased. Moreover, as monetary tightening progressed globally, the Bank of Japan continued monetary easing, causing the yen to weaken in the foreign exchange market due to the interest-rate differential between Japan and other countries.」
While priority was given to maintaining economic activity during the seventh wave of COVID-19, the disclosure describes production disruptions caused by prolonged difficulty procuring parts, surging resource and energy prices accompanying the prolonged war in Ukraine, and yen depreciation. - FY2023-Q1Semiconductor shortages, China's lockdowns, yen depreciation and high resource prices continueAnnual report
「During the cumulative first quarter under review, COVID-19 temporarily subsided in Japan, but production disruptions occurred in various industries, including automobiles, because semiconductor shortages and lockdowns in various parts of China made it difficult to procure parts. As monetary tightening progressed globally, the Bank of Japan continued monetary easing, causing the yen to weaken in the foreign exchange market. The prolonged situation in Ukraine and resulting high resource and energy prices caused domestic corporate prices to continue rising, and consumer prices also increased.」
While stating that COVID-19 temporarily subsided, the disclosure describes difficulty procuring parts due to semiconductor shortages and lockdowns in various parts of China, yen depreciation, the prolonged situation in Ukraine, and surging resource and energy prices as aspects of the business environment. - FY2022WorsenedAnnual report
「On 24 February 2022, Russia invaded Ukraine, prompting Western countries to impose economic sanctions on Russia, and resource and energy prices surged. The yen fell sharply in March 2022, reaching ¥125 to the US dollar on 28 March.」
In addition to the previous effects of COVID-19 and supply constraints, the business environment newly includes Russia's invasion of Ukraine, economic sanctions, a surge in resource and energy prices, and a sharp decline in the yen. - FY2022-Q3State of emergency lifted; supply constraints become apparentAnnual report
「During the cumulative third quarter under review, economic activity in Japan was constrained after a fourth state of emergency was declared in July of the previous year due to the spread of COVID-19, but the declaration was fully lifted in October and economic activity moved toward normalization. Production disruptions also occurred in industries such as automobiles and air-conditioning equipment because semiconductor shortages and lockdowns made it difficult to procure parts from Southeast Asia.」
While the fourth state of emergency was fully lifted in October and economic activity moved toward normalization, the disclosure states that semiconductor shortages and difficulty procuring parts due to lockdowns in Southeast Asia emerged as causes of production disruptions. - FY2022-Q2Fourth state of emergency declared; economic activity constrainedAnnual report
「During the cumulative second quarter under review, economic activity in Japan was constrained as a fourth state of emergency was declared from 22 July due to the spread of COVID-19. The Tokyo Olympics, which opened on 24 July, were also held without spectators.」
The business environment is described as involving a fourth state of emergency declaration and constraints on economic activity caused by the spread of COVID-19, as well as the Tokyo Olympics being held without spectators. - FY2022-Q1State of emergency declared; semiconductor shortageAnnual report
「During the cumulative first quarter under review, economic activity in Japan was constrained as a third state of emergency was declared in some regions due to the spread of COVID-19. In the automobile and home appliance industries, production adjustments occurred because of insufficient semiconductor supplies.」
The disclosure states that, in addition to constraints on economic activity caused by the spread of COVID-19, production adjustments occurred in the automobile and home appliance industries due to semiconductor shortages. - FY2021-Q3Manufacturing demand recovers; copper prices riseAnnual report
「During the cumulative third quarter under review, the global economy deteriorated rapidly from spring 2020 as COVID-19 spread, but demand in manufacturing industries such as semiconductors and automobiles recovered sharply from last autumn onward. Copper prices, which reflect trends across manufacturing and are a principal raw material for the Company, continued to rise, partly due to monetary easing.」
While describing the deterioration in economic conditions caused by COVID-19, the disclosure states that demand in manufacturing industries such as semiconductors and automobiles recovered sharply from last autumn onward and that copper prices continued to rise. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, the global economy deteriorated rapidly because economic activity contracted substantially due to the effects of the declaration of a state of emergency and other measures accompanying the spread of COVID-19.」
The disclosure states that the contraction in economic activity and deterioration in economic conditions resulting from the spread of COVID-19 and the declaration of a state of emergency and other measures continued. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the global economy deteriorated rapidly and entered an extremely severe situation because economic activity contracted substantially following the declaration of a state of emergency accompanying the spread of COVID-19.」
The disclosure describes a substantial contraction in economic activity, a rapid deterioration in economic conditions, and an extremely severe situation resulting from the spread of COVID-19 and the declaration of a state of emergency. - FY2020COVID-19 spread; consumption tax rate raised; exports and production remain weakAnnual report
「During the fiscal year under review, the novel coronavirus disease broke out in Wuhan, Hubei Province, China, in November 2019 and spread rapidly around the world. Governments restricted the movement of people. In Japan, the consumption tax rate was raised to 10% in October 2019, slowing personal consumption. Exports and production also remained weak. The labor market remained tight and was effectively at full employment. The benchmark price of copper, our principal raw material, fell to ¥580,000 per tonne at the end of March 2020 due to the COVID-19 shock.」
The description of the business environment changed from the previous recovery trend to the global spread of COVID-19, the increase in the consumption tax rate to 10%, and weakness in exports and production. - FY2020-Q3Consumption tax rate raised; exports and production remain weakAnnual report
「During the cumulative third quarter under review, the global economy slowed in China due to US-China trade friction and other factors. In Japan, the consumption tax rate was raised to 10% in October 2019. Exports and production remained weak. The labor market remained tight and was effectively at full employment.」
While China's economic slowdown and weakness in domestic exports and production continued, the disclosure newly notes the increase in the consumption tax rate to 10% in October 2019. Tightness in the labor market also continued. - FY2020-Q2Corporate prices fall; labor market remains tightAnnual report
「During the cumulative second quarter under review, the global economy slowed in China due to US-China trade friction and other factors. In Japan, exports and production remained weak, while corporate prices declined moderately. The labor market was tight and effectively at full employment.」
While China's economic slowdown and weakness in domestic exports and production continued, corporate prices turned to a moderate decline, and the labor market remained tight. - FY2020-Q1China's economy slows; domestic exports and production weakenAnnual report
「During the cumulative first quarter under review, the global economy slowed in China due to US-China trade friction and other factors. In Japan, exports and production remained weak, while corporate prices were flat.」
The description of the business environment changed from the previous recovery trend in the global and domestic economies to a slowdown in China's economy and weakness in domestic exports and production. - FY2019RestatedAnnual report
「During the fiscal year under review, the global economy remained resilient, led by the United States, but the production of high-tech products in China declined due to US-China trade friction, and exports of semiconductor manufacturing equipment and other products from Japan decreased. In Japan, corporate prices rose, while the labor market remained tight and was effectively at full employment.」
While describing the resilience of the US-led global economy, the disclosure reconfirms the decline in Chinese high-tech production and Japanese exports of semiconductor manufacturing equipment and other products due to US-China trade friction, as well as tightness in the domestic labor market. - FY2019-Q3Sharp decline in China's high-tech product production and decrease in semiconductor manufacturing equipment exportsAnnual report
「The global economy remained solid, led by the United States, but production of high-tech products in China fell sharply due to the impact of US-China trade friction, while exports of semiconductor manufacturing equipment from Japan declined. In Japan, corporate goods prices rose, and the labor market remained tight, effectively maintaining a state of full employment.」
While describing the resilience of the US-led global economy, the disclosure newly points to a sharp decline in Chinese high-tech production and a decrease in Japan's exports of semiconductor manufacturing equipment as effects of trade friction. - FY2019-Q2RestatedAnnual report
「During the cumulative second-quarter period, the global economy remained solid, led by the United States, but the risk of rising protectionism stemming from US-China trade friction increased. Japan's economy benefited from solid demand for automobiles and semiconductors, rising corporate goods prices and strong capital investment.」
Reaffirms the strength of the global economy led by the United States and the robust domestic demand for automobiles and semiconductors and strong capital investment, while also noting the risk of rising protectionism. - FY2019-Q1RestatedAnnual report
「During the cumulative first-quarter period, the global economy remained solid, led by the United States and China, but the rise of protectionist trade policies stemming from US-China trade friction made the outlook uncertain. Japan's economy remained in a gradual uptrend, corporate goods prices rose, and corporate capital investment remained strong.」
Reaffirms the strength of the global economy led by the United States and China and the gradual uptrend in the domestic economy, while also noting uncertainty over the outlook caused by protectionist trade policies. - FY2018RestatedAnnual report
「During the fiscal year, Japan's economy continued its gradual recovery, as the global economy maintained a moderate recovery and the Bank of Japan continued its monetary easing policy, supporting solid production and exports.」
Reaffirms the recovery trend in domestic economic conditions, underpinned by the global economic recovery and solid production and exports, as the business environment. - FY2018-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, the global economy continued to grow steadily, supported by robust demand in the United States and China. Japan's economy also continued to recover, led by the electrical and electronics industries under stable yen depreciation resulting from fiscal stimulus and low-interest-rate policies.」
Explains that stable global economic growth underpinned by demand in the United States and China and a recovery in domestic economic conditions driven by the weaker yen and the electrical and electronics industry have continued. - FY2018-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the global economy recovered gradually, led by the United States and China. Japan's economy also continued its gradual recovery, supported by the electrical and electronics industries under stable yen depreciation.」
Explains that the recovery in the global economy led by the United States and China and the recovery trend in the domestic economy driven by the weaker yen and the electrical and electronics industry have continued. - FY2018-Q1First statedAnnual report
「During the cumulative first-quarter period, Japan's economy was on a solid recovery track, with production and exports performing well against the backdrop of a global economic recovery led by the United States and China.」
Newly describes the business environment as one of a global economic recovery led by the United States and China, strong production and exports, and a solid recovery in the domestic economy.