Geopolitical Risks, Political Instability and Rising Protectionism
First written in FY2018. 5 of 12 entries say "Worsened", first in FY2023. Latest entry: 2026-06-05.
Hokkan Limited moved to the "Worse" side of this theme in 2022, 2 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".
- FY2025WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained on a moderate recovery trend as employment and income conditions improved. However, concerns remain about the impact on personal consumption of weaker consumer sentiment resulting from continued price increases, as well as the sustained high interest-rate environment in Europe and the United States, the outlook for China's economy and future US policy developments, including the risk of a global economic slowdown, and the outlook therefore remains uncertain.」
Factors contributing to uncertainty in the external environment, including rising prices, high interest rates in Europe and the United States, the outlook for China's economy, and US policy developments, have become more concrete and continued. - FY2024-Q3RestatedAnnual report
「In addition, uncertainty continued, including concerns about the impact on the economy of global monetary tightening and the outlook for China's economy.」
Uncertainty in the external environment, including global monetary tightening and concerns about the outlook for China's economy, has continued. - FY2024-Q2WorsenedAnnual report
「During the second quarter of the current consolidated cumulative period, the normalization of economic activity progressed in Japan as the number of people on the move increased following the reclassification of COVID-19 under the Infectious Diseases Act, with inbound demand in particular recovering, and the economy entered a moderate recovery trend. However, difficult conditions continued, including higher raw-material prices and energy costs resulting from yen depreciation and the prolonged Ukraine conflict. In addition, uncertainty about the outlook increased amid concerns about the impact on the economy of falling property values in China and global monetary tightening.」
While the number of people on the move and inbound demand recovered, the prolonged Ukraine conflict, yen depreciation, higher raw-material and energy costs, falling property values in China, and global monetary tightening were newly identified as concerns, increasing uncertainty about the outlook. - FY2024-Q1Concerns over an economic slowdown due to monetary tightening and rising pricesAnnual report
「During the first quarter of the current consolidated cumulative period, Japan's economy showed signs of recovery in corporate capital investment and personal consumption. However, the outlook remained uncertain amid the effects of global monetary tightening and concerns over an economic slowdown caused by rising prices.」
In addition to the geopolitical and overseas developments previously cited, global monetary tightening and concerns over an economic slowdown caused by rising prices are described as factors contributing to an uncertain outlook. - FY2023WorsenedAnnual report
「However, while positive changes such as the recovery trend from the COVID-19 pandemic were observed, the external environment also became more challenging, with energy costs rising against the backdrop of the prolonged Ukraine conflict and raw-material prices rising beyond expectations as the yen depreciated. We recognize that these developments cannot be overlooked.」
Geopolitical risk persisted in the form of the prolonged Ukraine conflict, increasing its impact on the business environment through higher energy and raw-material prices and yen depreciation. - FY2023-Q1RestatedAnnual report
「The economic outlook remains uncertain due to rising geopolitical risks, soaring raw material prices and energy costs, and the rapid depreciation of the yen.」
Rising geopolitical risks, together with higher raw-material prices, surging energy costs and yen depreciation, continue to be cited as external-environment concerns. - FY2022MaterialisedAnnual report
「Emerging geopolitical risks」
It states that longstanding concerns over geopolitical risks and political instability materialized during the current year as factors affecting the domestic economy and production activity. - FY2020-Q3RestatedAnnual report
「Meanwhile, overseas developments, including the trajectory of trade issues between the United States and China and the UK's withdrawal from the EU, continue to raise concerns about their impact on the global economy, and the outlook remains uncertain.」
The note reconfirms uncertainty over the outlook for the global economy arising from overseas developments, including US-China trade issues and the UK's withdrawal from the EU. - FY2019RestatedAnnual report
「Regarding the outlook for Japan’s economy in the next fiscal year, concerns have been raised about the impact on domestic economic conditions of a deterioration in overseas economies, including the planned consumption tax increase in October 2019, developments in trade issues centered on the United States, and uncertainty over the outlook for the Chinese economy.」
The company added specific concerns to the existing external-environment risks, including a consumption tax increase, trade issues centered on the United States, and uncertainty over the Chinese economy. - FY2018First statedAnnual report
「Concerns that the economy could become more protectionist due to geopolitical risks, including in the Middle East, and global political instability, including in Europe and the United States.」
The outlook for the next fiscal year identifies geopolitical risks, global political instability, and concerns over rising protectionism as new external-environment risks.