Global Economic Slowdown and Financial Market Uncertainty
First written in FY2016. 23 of 40 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-10-20.
Alinco 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: 160 of 184 companies on the "Worse" side.
7 other companies' latest entry also says "Materialised".
- FY2026WorsenedAnnual report
「Regarding the outlook for the business environment in the next period, the recovery trend in the economy is expected to be maintained because domestic demand is expected to remain firm. However, concerns about cost-push inflation resulting from a deterioration in the situation in the Middle East and the impact of US policy developments on the global economy are also downside risks, and a highly uncertain business environment is expected to continue.」
Although domestic demand is expected to remain firm, concerns about inflation resulting from a deterioration in the situation in the Middle East and the impact of US policy developments on the global economy were identified as downside risks. - FY2026-H1WorsenedAnnual report
「However, the outlook remains uncertain, including because of uncertainty over US tariff policy and the prolonged unstable international situations in Ukraine and the Middle East.」
In addition to the previous uncertainty surrounding international conditions and financial markets, uncertainty over US tariff policy and the prolonged situations in Ukraine and the Middle East were indicated. - FY2025WorsenedAnnual report
「Regarding the outlook for the business environment in the next period, the recovery trend in the economy is expected to be maintained because domestic demand is expected to remain firm. However, downside risks to the economy, including a sharp slowdown in the global economy resulting from US policy developments and a loss of momentum in consumption because of higher-than-expected prices, are also a concern, and a situation requiring close monitoring is expected to continue.」
Although domestic demand is expected to remain firm, a sharp slowdown in the global economy resulting from US policy developments and a loss of momentum in consumption because of higher-than-expected prices were added and specified as downside risks. - FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period under review, Japan's economy maintained its recovery trend, but the outlook remained uncertain and difficult because of stagnant consumer sentiment resulting from high prices and natural disasters, heightened tensions in the Middle East, and unstable movements in foreign exchange markets.」
Although the economic recovery trend continued, high prices, natural disasters, heightened tensions in the Middle East, and unstable movements in foreign exchange markets were identified as factors of uncertainty, and challenging conditions continued. - FY2025-Q1RestatedAnnual report
「The outlook remains uncertain and difficult because of stagnant consumer sentiment resulting from prolonged high prices, higher raw material prices accompanying yen depreciation, and labor shortages.」
It was stated that uncertainty and challenging conditions in the economic environment caused by high prices, yen depreciation, and labor shortages continued. - FY2024WorsenedAnnual report
「During the fiscal year under review, Japan's economy showed signs of a moderate recovery as social and economic activity continued to normalize following the COVID-19 pandemic. However, the economic outlook remained uncertain because of rising prices resulting from the weaker yen and heightened geopolitical risks, including those related to Ukraine and the Middle East.」
Although economic activity continued to normalize, yen depreciation, rising prices, and geopolitical risks including the situations in Ukraine and the Middle East were explicitly identified as factors of uncertainty. - FY2024-Q3RestatedAnnual report
「However, amid unstable international conditions, raw material and energy prices remained high, and economic trends continued to face an uncertain outlook because of factors including rising prices against a backdrop of yen depreciation.」
Although economic activity continued to normalize and capital investment increased, uncertainty persisted because of international conditions, persistently high raw material and energy prices, yen depreciation, and rising prices. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy continued to normalize economic activity following the COVID-19 pandemic, but economic trends remained uncertain amid unstable international conditions, persistently high raw material and energy prices, and rising prices against a backdrop of yen depreciation.」
Although economic activity continued to normalize, uncertainty about the outlook persisted because of unstable international conditions, persistently high raw material and energy prices, yen depreciation, and rising prices. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy moved toward the normalization of economic and social activity as restrictions intended to prevent the spread of infection were eased, including the reclassification of COVID-19 as a Class 5 disease. However, economic trends remained uncertain because of downside risks from global monetary tightening and rising prices against a backdrop of persistently high raw material prices and yen depreciation.」
Although economic and social activity continued to normalize, uncertainty about the outlook persisted because of global monetary tightening, persistently high raw material prices, and rising prices against a backdrop of yen depreciation. - FY2023-Q3WorsenedAnnual report
「Although restrictions on movement were eased gradually and economic activity showed signs of moving toward normalization as the impact of COVID-19 continued, the outlook for the economy remained uncertain because of surging resource prices accompanying the prolonged Ukraine crisis, higher import prices resulting from the weaker yen, and policy rate hikes associated with accelerating inflation in Europe and the United States.」
Although restrictions on movement were eased and economic activity moved toward normalization, resource prices, yen depreciation, inflation in Europe and the United States, and policy rate hikes were additionally identified as factors of uncertainty. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan's economy showed signs of moving toward the normalization of economic activity as restrictions on movement related to COVID-19 were eased, but the outlook for the economy remained uncertain because the situation in Ukraine accelerated increases in resource and energy prices, the yen depreciated rapidly, and lockdowns in Chinese cities were implemented under the zero-COVID policy.」
Although economic activity was moving toward normalization, the acceleration of resource and energy price increases resulting from the situation in Ukraine, the rapid depreciation of the yen, and lockdowns in China emerged as new factors of uncertainty. - FY2022WorsenedAnnual report
「Recently, Russia's invasion of Ukraine has raised concerns about surging energy and resource prices, while in China concerns have arisen about the impact on the economy of a prolonged zero-COVID policy, further increasing uncertainty about the economic outlook.」
In addition to the previous uncertainty surrounding infectious diseases and the global economy, the situation in Ukraine, energy and resource prices, and China's zero-COVID policy emerged as new factors of uncertainty. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy remained extremely uncertain as restrictions on economic activity resulting from COVID-19 continued. Although some positive signs were seen, including ordinary profit at manufacturing companies, according to the Financial Statements Statistics of Corporations by Industry, significantly exceeding pre-pandemic levels, the outlook for the economy remained uncertain because of the emergence of highly contagious variants and repeated measures to contain infections.」
Although there were positive signs in manufacturing profit levels, uncertainty about the economic outlook continued because of the emergence of variants and repeated measures to contain infections. - FY2021WorsenedAnnual report
「In fiscal 2020, the spread of COVID-19 had a major impact on social and economic activity worldwide, and the situation remains one in which an end to the pandemic is still not in sight. In addition, the frequent occurrence of large-scale natural disasters has raised awareness of the risks associated with global climate change, creating a wave of rapid social change toward a decarbonized and resource-recycling society.」
In addition to the previous uncertainty surrounding economic conditions and financial markets, the business environment was shown to be becoming more complex because of infectious diseases, natural disasters, climate change, and the transition to a decarbonized, resource-recycling society. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy was in an extremely severe situation from the beginning of the period because of the rapid stagnation of social and economic activity caused by the spread of COVID-19. Although economic conditions showed signs of recovery from the summer onward as economic activity resumed, there were still no signs that COVID-19 was coming to an end, and the outlook for the economy remained uncertain.」
While economic conditions showed signs of recovery after economic activity resumed, there were no signs that the infection was coming to an end, and uncertainty about the economic outlook continued. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter under review, Japan's economy entered an extremely severe situation because of the rapid stagnation of social and economic activity caused by the spread of COVID-19. Although economic conditions have shown signs of recovery recently as economic activity resumes, the recovery is expected to remain gradual for the time being, with differences in the timing of recovery emerging by industry, business type and region.」
It was indicated that the economy had entered an extremely severe situation because of the rapid stagnation of social and economic activity, and that the recovery would be gradual, with differences emerging by industry and region. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan's economy entered an extremely severe situation as the spread of COVID-19 led to the issuance of a state of emergency, causing social and economic activity to stagnate rapidly. Although economic activity has begun to resume following the lifting of the state of emergency, concerns remain about a second wave of COVID-19, and the outlook for the economy continues to require close monitoring.」
In addition to the previous uncertainty, the rapid stagnation of social and economic activity and concerns about a second wave of the infection were indicated, showing that economic risks had become more pronounced. - FY2020WorsenedAnnual report
「During the fiscal year under review, Japan's economy continued to recover moderately against a backdrop of improving employment and income conditions, but after the consumption tax increase implemented in October 2019, private consumption stagnated and remained subdued. In addition, the global spread of COVID-19 from the beginning of the year has resulted in an extremely uncertain situation that continues to this day.」
In addition to the previous trade tensions and uncertainty surrounding overseas economies, the stagnation in private consumption following the consumption tax increase and the global spread of COVID-19 caused uncertainty to increase further. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy was said to have continued expanding moderately against a backdrop of improving employment and income conditions, while the outlook for economic conditions remained difficult to predict because fluctuations in private consumption following the consumption tax hike and developments in trade policy between the United States and China were affecting exports and production.」
Although the economy was described as continuing to expand moderately, fluctuations in private consumption following the consumption tax hike and trade policy between the United States and China were cited as factors of uncertainty, and the continuation of a situation in which the current state and outlook for the economy were difficult to predict was noted. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter under review, Japan's economy saw a succession of indicators showing that manufacturing was slowing due to weak external demand resulting from a slowdown in overseas economies, and uncertainty about the economic outlook has increased.」
The slowdown in manufacturing resulting from the slowdown in overseas economies and weak external demand became evident, and it was stated that uncertainty about the economic outlook had increased. - FY2020-Q1WorsenedAnnual report
「However, uncertainty about the economic outlook has increased amid growing uncertainty over global economic trends and monetary and fiscal policy, including concerns that US-China trade tensions may be prolonged.」
In addition to the previous escalation in US-China trade tensions, concerns that the tensions may be prolonged were cited, and it was stated that growing uncertainty surrounding the global economy and monetary and fiscal policy had heightened uncertainty about the economic outlook. - FY2019WorsenedAnnual report
「However, since the beginning of 2019, the impact of slowing growth in the Chinese economy and escalating US-China trade tensions on the global economy has attracted increased attention, heightening uncertainty about the economic outlook.」
It was stated that the impact of slowing growth in the Chinese economy and escalating US-China trade tensions had attracted increased attention, heightening uncertainty about the economic outlook. - FY2019-Q3RestatedAnnual report
「During the nine-month period, Japan's economy remained on a gradual recovery trend against a backdrop of improving corporate earnings and employment conditions. However, concerns about the impact of escalating U.S.-China trade friction on the global economy left the outlook uncertain.」
While the domestic economy was described as being on a gradual recovery trend, concerns about the impact of escalating U.S.-China trade friction on the global economy continued, and the outlook remained uncertain. - FY2019-Q2WorsenedAnnual report
「During the six-month period, Japan's economy remained on a gradual recovery trend against a backdrop of improving corporate earnings and employment conditions. However, concerns about the impact of escalating U.S.-China trade friction on the global economy left the outlook uncertain.」
While the domestic economy was described as being on a recovery trend, the “escalation” of U.S.-China trade friction emerged as a specific new source of concern for the global economy, and the outlook was described as uncertain. - FY2019-Q1RestatedAnnual report
「During the first quarter, Japan's economy remained on a gradual recovery trend against a backdrop of improving corporate earnings and employment conditions. However, the spread of protectionist sentiment was viewed as a disruptive factor for the strong global economy, and uncertainty about the outlook continued.」
While the domestic economy was described as being on a gradual recovery trend, the spread of protectionist sentiment was cited as a disruptive factor for the global economy, and the outlook was described as remaining uncertain. - FY2018RestatedAnnual report
「During the fiscal year, Japan's economy continued on a gradual recovery trend. Uncertainty about the outlook remained due to instability in overseas political conditions, while capital investment remained firm against a backdrop of improving corporate earnings, and personal consumption, which had remained sluggish for an extended period, began to recover as employment and income conditions improved.」
While uncertainty due to overseas political conditions and other factors remained, the domestic economy was described as continuing on a gradual recovery trend. - FY2018-Q3RestatedAnnual report
「During the nine-month period, Japan's economy continued on a gradual recovery trend. Uncertainty about the outlook remained due to instability in overseas political conditions, while capital investment remained firm against a backdrop of improving corporate earnings, and personal consumption, which had remained sluggish for an extended period, began to recover as employment and income conditions improved.」
While uncertainty about the outlook due to overseas political conditions and other factors remained, the domestic economy was described as continuing on a gradual recovery trend against a backdrop of improvements in capital investment, employment and income conditions, and personal consumption. - FY2018-Q2RestatedAnnual report
「During the six-month period, Japan's economy continued on a gradual recovery trend. Uncertainty about the outlook remained due to instability in overseas political conditions, but capital investment and employment and income conditions improved, and personal consumption, which had remained sluggish for an extended period, also began to recover.」
While uncertainty about the outlook due to overseas political conditions and other factors continued, the domestic economy was described as being on a gradual recovery trend owing to improvements in capital investment, employment and income conditions, and personal consumption. - FY2018-Q1RestatedAnnual report
「During the first quarter, Japan's economy remained on a gradual recovery trend, supported by capital investment and improvements in employment and income conditions, although uncertainty about the outlook remained due to instability in overseas political conditions.」
While noting that uncertainty about the outlook due to overseas political conditions remained, the domestic economy was described as being on a gradual recovery trend. - FY2017RestatedAnnual report
「During the fiscal year, Japan's economy showed a gradual recovery against a backdrop of improving corporate earnings and employment conditions. However, with emerging economies slowing, the outlook remained uncertain due to the UK's EU withdrawal issue and concerns about the policy direction of the United States following its presidential election.」
Economic uncertainty due to slowing emerging economies, the UK's withdrawal from the EU and concerns about U.S. policies continued throughout the fiscal year. - FY2017-Q3WorsenedAnnual report
「During the nine-month period, Japan's economy showed a gradual recovery against a backdrop of improving corporate earnings and employment conditions. However, uncertainty about the outlook increased due to greater uncertainty in overseas economies resulting from the UK's EU withdrawal issue and the U.S. presidential election.」
In addition to the previously cited stronger yen and slowing emerging economies, greater uncertainty in overseas economies resulting from the UK's EU withdrawal issue and the U.S. presidential election was cited, and the outlook was described as increasingly uncertain. - FY2017-Q2RestatedAnnual report
「During the six-month period, Japan's economy remained clouded by uncertainty about the outlook, despite improvements in employment and income conditions, due to deteriorating corporate earnings caused by the rapid appreciation of the yen, sluggish capital investment and the impact of slowing emerging economies on domestic demand.」
Economic uncertainty continued due to the stronger yen, sluggish capital investment, slowing emerging economies and their impact on domestic demand. - FY2017-Q1WorsenedAnnual report
「During the first quarter, Japan's economy remained stagnant as concerns about deteriorating corporate earnings due to the rapid appreciation of the yen and worsening consumer sentiment caused by instability in the stock market weighed on activity.」
The economic and financial-market uncertainty cited in the previous fiscal year manifested itself in a stagnant domestic economy due to the rapid appreciation of the yen and instability in the stock market. - FY2016First statedAnnual report
「However, concerns about an economic slowdown in emerging economies, including China, declining resource prices and the impact of a shift in U.S. monetary policy came into focus. Financial markets became unstable toward the end of the fiscal year, increasing uncertainty about the economic outlook.」
The emerging-market economy, resource prices, U.S. monetary policy and financial markets are cited as sources of economic uncertainty.