Uncertainty About the Outlook Due to Instability in the Overseas Political Environment
First written in FY2018-Q3. 13 of 21 entries say "Worsened", first in FY2019-Q2. Latest entry: 2026-08-07.
Swcc moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
65 other companies' latest entry also says "Restated".
- FY2025WorsenedAnnual report
「The operating environment surrounding the Group is becoming increasingly uncertain, due to factors including a decline in the working-age population resulting from the declining birth rate and aging population, higher raw material prices and supply chain disruptions associated with US tariff policies, and growing uncertainty in the international situation.」
In addition to the previously noted uncertainty surrounding the international situation and supply chains, higher raw material prices and supply chain disruptions resulting from US tariff policies were explicitly cited. However, the Group is expected to have limited exposure to the US, so the impact on earnings is expected to be limited. - FY2024-Q2RestatedAnnual report
「In addition, unstable conditions overseas and uncertainty about the outlook, including developments in financial markets, continue.」
It has been reconfirmed that uncertainty about the outlook due to overseas conditions and financial market developments persists. - FY2024-Q1RestatedAnnual report
「Meanwhile, in addition to the impact of higher raw material and energy prices resulting from the prolonged Russia-Ukraine situation and yen depreciation, some of the COVID-related demand for home appliances and industrial products faded, while in the automotive-related market, adjustments toward a partial recovery in demand for xEVs and other applications continued.」
The disclosure continues to cite uncertainty in the international situation, including the prolonged Russia-Ukraine situation, and its impact on raw material and energy prices. - FY2023-Q3RestatedAnnual report
「During the nine-month period of the current fiscal year, the business environment surrounding our Group saw construction-related demand recover as construction work resumed with the normalization of socioeconomic activity. At the same time, higher raw material and energy prices, global supply chain disruptions, and continued production cuts in the automotive sector due to semiconductor shortages persisted.」
While demand related to construction is recovering, elevated raw material and energy prices, supply chain disruptions, and continued automobile production cuts due to semiconductor shortages mean that uncertainty in the external environment persists. - FY2023-Q2WorsenedAnnual report
「During the first 2 quarters of the fiscal year, Japan’s economy showed signs of recovery as social and economic activity normalized against a backdrop of progress in vaccinations. However, the situation remained unpredictable amid the impact of geopolitical risks including the Russia-Ukraine conflict, continued elevated raw material and energy prices and global supply chain disruptions, and a further sharp depreciation of the yen.」
In addition to the previously cited infectious disease, US-China relations, and supply chain disruptions, the Russia-Ukraine conflict, elevated raw material and energy prices, and the sharp depreciation of the yen were identified as factors contributing to uncertainty in the external environment. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, Japan’s economy showed signs of recovery as social and economic activity normalized. However, overseas, the situation remained unpredictable as the Russia-Ukraine conflict was prolonged and lockdowns were imposed in Shanghai, China, under the zero-COVID policy, while elevated raw material and logistics prices, yen depreciation, and global supply chain disruptions continued.」
In addition to the previously cited US-China relations and infectious disease, the company identified the prolonged Russia-Ukraine conflict, the lockdown in Shanghai, China, elevated raw material and logistics prices, yen depreciation, and supply chain disruptions as factors contributing to uncertainty. - FY2022-Q3WorsenedAnnual report
「During the first 3 quarters of the fiscal year, Japan’s economy showed signs of normalization as COVID-19 vaccination expanded, but remained in a situation requiring close attention due to the spread of new variants and other factors. Overseas, in addition to the impact of COVID-19, global supply chain disruptions, semiconductor shortages, and elevated raw material and logistics prices continued, leaving the outlook uncertain.」
New variants, global supply chain disruptions, semiconductor shortages, and elevated raw material and logistics prices continued to contribute to uncertainty in the external environment. - FY2022-Q2WorsenedAnnual report
「Overseas, the outlook remained uncertain as the impact of the novel coronavirus infection was compounded by the worsening global semiconductor shortage and surging resource prices.」
In addition to the previously cited novel coronavirus infection and tensions between the United States and China, the worsening global semiconductor shortage and surging resource prices became factors contributing to uncertainty in the overseas environment. - FY2022-Q1RestatedAnnual report
「In addition, overseas economies remained uncertain due to tensions between the United States and China and the impact of the novel coronavirus infection.」
Uncertainty about the outlook for overseas economies due to tensions between the United States and China and the impact of the novel coronavirus infection continues. - FY2021-Q3RestatedAnnual report
「Although China’s economy showed signs of recovery, the outlook overseas remained uncertain amid the spread of the novel coronavirus infection and tensions over US-China trade friction.」
While China’s economy showed signs of recovery, uncertainty about the outlook overseas continued due to the spread of the novel coronavirus infection and tensions over US-China trade friction. - FY2021-Q2RestatedAnnual report
「Overseas, the outlook remained uncertain amid the spread of the novel coronavirus infection and rising tensions over US-China trade friction.」
Uncertainty about the outlook for overseas economies due to the spread of the novel coronavirus infection and US-China trade friction continues. - FY2020WorsenedAnnual report
「In the fourth quarter, the spread of the novel coronavirus infection expanded worldwide, leading to a sharp decline in demand due to measures to prevent its spread and the disappearance of inbound demand, raising concerns about its impact on the economy.」
In addition to the previously cited US-China trade friction, China’s economic slowdown, and geopolitical risks, the global spread of infectious disease and the sharp drop in demand became new factors worsening the external environment. - FY2020-Q3WorsenedAnnual report
「During the first 3 quarters of the fiscal year, domestic demand, including capital investment, remained firm, but external demand continued to stagnate under the impact of geopolitical risks, and the recovery in economic activity remained uncertain.」
The company states that external demand continues to stagnate due to the impact of geopolitical risks, with uncertainty in the external environment continuing. - FY2020-Q2WorsenedAnnual report
「During the first 2 quarters of the fiscal year, domestic demand, including capital investment, remained firm, but the global economic slowdown became more pronounced as US-China trade friction continued, leaving the recovery in economic activity uncertain.」
Against a backdrop of prolonged US-China trade friction, the global economic slowdown has become more pronounced and uncertainty surrounding the economic recovery continues. - FY2020-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, domestic demand in Japan, including capital investment, remained firm. Exports, however, continued to trend downward due to the slowdown in the Chinese economy, while prolonged US-China trade friction and other factors increased uncertainty in the global economy, leaving the outlook for economic conditions uncertain.」
Against a backdrop of continuing uncertainty due to China’s economic slowdown and US-China trade friction, the company has identified a downward trend in exports and the prolonged trade friction, documenting the deterioration in the external environment together with its impact on results. - FY2019-Q3WorsenedAnnual report
「During the first 3 quarters of the fiscal year, domestic demand, including capital investment, remained firm as the corporate earnings environment improved, but the outlook became uncertain due to the effects of US-China trade friction, China’s economic slowdown, and other factors.」
In addition to the previously cited concerns over a downturn in the global economy due to US-China trade friction, China’s economic slowdown has been identified as a contributing factor, and uncertainty about the outlook continues. - FY2019-Q2WorsenedAnnual report
「During the first 2 quarters of the fiscal year, Japan’s economy remained on a recovery trend, supported by resilient domestic demand, and capital investment and personal consumption also recovered gradually. However, concerns have emerged over a downturn in the global economy due to US-China trade friction and other factors.」
In addition to the previously cited instability in overseas political conditions, the company specifically describes concerns over a downturn in the global economy caused by US-China trade friction and other factors. - FY2018-Q3First statedAnnual report
「During the first 3 quarters of the fiscal year, Japan’s economy showed signs of recovery in capital investment and personal consumption as corporate earnings recovered, but remained in an uncertain outlook due to instability in overseas political conditions and other factors.」
The company has identified instability in overseas political conditions for the first time as an external factor contributing to uncertainty about the outlook for the domestic economy.