Uncertainty stemming from high interest rates and inflation, China's economic slowdown, geopolitical tensions, and other factors
First written in FY2024. 3 of 7 entries say "Worsened", first in 2026-05-14. Latest entry: 2026-08-12.
Stg moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
76 other companies' latest entry also says "Worsened".
- 2026-08-12WorsenedEarnings
「During the first quarter of the current consolidated fiscal year, the global economy remained affected by trade and tariff issues centered on the United States. Following attacks on Iran by the United States and Israel, tensions in the Middle East intensified, while energy concerns surrounding the Strait of Hormuz caused crude oil and gas prices to surge, and inflationary pressures and financial-market volatility also increased.」
In addition to the economic conditions described in the previous fiscal period, the company identified the attacks on Iran, heightened tensions in the Middle East, energy concerns surrounding the Strait of Hormuz, surging crude oil and gas prices, and increased financial-market volatility, making the sources of uncertainty more specific. - FY2026WorsenedAnnual report
「The business environment surrounding the Group remained uncertain, as geopolitical risks, including uncertainty over U.S. trade policy, weakness in the Chinese economy, the prolonged Russia-Ukraine war and heightened tensions in the Middle East, continued to weigh on economic activity.」
The description changed from generally firm conditions in the previous period to an uncertain environment weighed down by U.S. trade policy, China’s economy, the war and the situation in the Middle East. - FY2025SoftenedAnnual report
「Although the situation was affected by price conditions in various countries, trends in financial and capital markets, and geopolitical risks, it remained generally firm, with personal consumption and other factors increasing in the United States and economic expansion continuing.」
While geopolitical risks and other factors were cited, the description of the economic environment changed from “uncertainty has increased further” to generally firm conditions during the period. - FY2025-H1RestatedAnnual report
「The situation remains uncertain, due to price and foreign-exchange fluctuations accompanying monetary tightening in various countries, sluggishness in the Chinese economy, higher energy and raw-material prices resulting from the prolonged Russia-Ukraine conflict, and heightened tensions in the Middle East.」
Monetary tightening, price and foreign-exchange fluctuations, weakness in China, conflict, higher energy and raw-material prices, and the situation in the Middle East continue to be cited as sources of uncertainty. - FY2024First statedAnnual report
「The prolonged Russia-Ukraine situation, worsening conditions in the Middle East, heightened geopolitical tensions such as friction between the United States and China, stagnation in the Chinese economy, persistently high energy prices and a resurgence of inflation are risk factors, and uncertainty surrounding the global economy has increased further.」
These factors are listed as sources of uncertainty for the global economy, domestic economy and customer industries.