Slowing Chinese economy, sharp decline in resource prices and excess steel supply
First written in FY2016. 17 of 29 entries say "Restated". Latest entry: FY2027-H1.
Otani Kogyo moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 74 of 95 companies on the "Worse" side.
12 other companies' latest entry also says "Other".
- FY2027-H1Additional references to natural disasters; no explicit mention of US trade policyAnnual report
「During the interim accounting period under review, Japan's economy was expected to continue recovering moderately, supported by improvements in employment and income conditions and the effects of various policies, but developments in the Middle East and the effects of natural disasters require close monitoring. Attention must also be paid to the effects of volatility in financial and capital markets.」
While indicating expectations for an economic recovery, the company noted the need to monitor developments in the Middle East, natural disasters and volatility in financial and capital markets. The reference to U.S. trade policy explicitly stated in the previous period is not found in this filing. - FY2026Continued concerns about developments in the Middle East and U.S. trade policyAnnual report
「During the fiscal year under review, Japan's economy was expected to continue recovering moderately, supported by improvements in employment and income conditions and the effects of various policies. However, uncertainty surrounding the global economy, including developments in the Middle East, has increased, and attention must be paid to the effects of volatility in financial and capital markets and developments concerning U.S. trade policy.」
While indicating expectations for an economic recovery, the company cited developments in the Middle East, volatility in financial and capital markets, and developments concerning U.S. trade policy as external environmental risks. - FY2025Addition of U.S. trade policy riskAnnual report
「In addition to the increasing risk of an economic downturn resulting from the effects of U.S. trade policy, the effects of continued price increases on private consumption, including through deterioration in consumer sentiment, also pose a risk of putting downward pressure on Japan's economy.」
In addition to the previous references to overseas economies, rising prices and volatility in financial and capital markets, the risk of an economic downturn resulting from U.S. trade policy was specifically stated. - FY2025-H1Specification of risk factorsAnnual report
「During the interim accounting period under review, Japan's economy is expected to continue recovering moderately, supported by improvements in employment and income conditions and the effects of various policies. However, a downturn in overseas economies, including the effects of continued high interest rates in Europe and the United States and the continued stagnation of China's property market, poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices, developments in the Middle East, and volatility in financial and capital markets.」
In addition to the previous references to a downturn in overseas economies, rising prices, developments in the Middle East, and volatility in financial and capital markets, continued high interest rates in Europe and the United States and stagnation in China's property market were cited as specific concerns. - FY2024Addition of disaster risksAnnual report
「However, a downturn in overseas economies, including the effects of global monetary tightening and concerns about the outlook for the Chinese economy, poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices, developments in the Middle East, volatility in financial and capital markets, and disasters such as the 2024 Noto Peninsula Earthquake on the economy.」
In addition to the previous references to monetary tightening, overseas economies, the Chinese economy, and rising prices, the effects of disasters such as the Noto Peninsula Earthquake on the economy were explicitly stated. - FY2024-Q3Replacement and addition of risk factorsAnnual report
「However, a downturn in overseas economies, including the effects of global monetary tightening and concerns about the outlook for the Chinese economy, poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices, developments in the Middle East, and volatility in financial and capital markets.」
In addition to the previous references to global monetary tightening, a downturn in overseas economies, rising prices and volatility in financial and capital markets, concerns about the outlook for the Chinese economy and developments in the Middle East were explicitly stated. Meanwhile, supply-side constraints mentioned in the previous quarter are not explicitly stated in this filing. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy is expected to continue recovering moderately, supported by improvements in employment and income conditions and the effects of various policies. However, a downturn in overseas economies, including the effects of global monetary tightening, poses a risk of putting downward pressure on Japan's economy, and close attention must be paid to the effects of rising prices and volatility in financial and capital markets.」
While indicating improvements in employment and income conditions and expectations for an economic recovery, the company continues to cite global monetary tightening, a downturn in overseas economies, rising prices and volatility in financial and capital markets as external environmental risks. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy is expected to continue recovering moderately, supported by improvements in employment and income conditions and the effects of various policies. However, as global monetary tightening continues, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices and volatility in financial and capital markets.」
While indicating expectations for an economic recovery, the company continues to cite global monetary tightening, a downturn in overseas economies, rising prices and volatility in financial and capital markets as external environmental risks. - FY2023RestatedAnnual report
「During the fiscal year, the Japanese economy was expected to recover, supported by the effects of various policies under the conditions of living with COVID-19. However, as global monetary tightening and other factors continue, a downturn in overseas economies poses downside risks to the Japanese economy. Sufficient attention must also be paid to the effects of rising prices, supply-side constraints, and volatility in financial and capital markets.」
While expressing expectations for an economic recovery, the document continues to cite global monetary tightening, a downturn in overseas economies, rising prices, supply-side constraints, and volatility in financial and capital markets as external-environment risks. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter period, the Japanese economy was expected to recover, supported by the effects of various policies under the conditions of living with COVID-19. However, as global monetary tightening and other factors continue, a downturn in overseas economies poses downside risks to the Japanese economy, and sufficient attention must be paid to the effects of rising prices, supply-side constraints, volatility in financial and capital markets, and infection trends in China.」
While expressing expectations for an economic recovery, the document continues to cite global monetary tightening, a downturn in overseas economies, rising prices, supply constraints, volatility in financial and capital markets, and infection trends in China as external-environment risks. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter period, the Japanese economy was expected to recover, supported by the effects of various policies as the transition to a new phase of living with COVID-19 progressed. However, continued global monetary tightening and a downturn in overseas economies pose downside risks to the Japanese economy. Sufficient attention must also be paid to the effects of rising prices, supply-side constraints, and volatility in financial and capital markets.」
While expressing expectations for an economic recovery, the document explicitly cites global monetary tightening, a downturn in overseas economies, rising prices, and supply-side constraints as external-environment risks. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the Japanese economy was expected to recover as economic and social activity normalised and the effects of various policies took hold. However, amid concerns about the prolonged situation in Ukraine and the effects of restrictions on economic activity in China, sufficient attention must be paid to downside risks from rising raw material prices, supply-side constraints, and volatility in financial and capital markets.」
While expressing expectations for an economic recovery, the document explicitly cites the prolonged situation in Ukraine, restrictions on economic activity in China, rising raw material prices, and supply-side constraints as downside risks, in addition to existing uncertainty related to infectious diseases and financial and capital markets. - FY2022-Q3WorsenedAnnual report
「Sufficient attention must be paid to downside risks from the effects of infectious diseases, supply-side constraints, and trends in raw material prices, while the effects of volatility in financial and capital markets must be closely monitored.」
In addition to the existing uncertainty related to infectious diseases and financial and capital markets, the document explicitly cites downside risks from supply-side constraints and trends in raw material prices. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the Japanese economy was expected to continue recovering, supported by the effects of various policies and improvements in overseas economies as measures to prevent the spread of COVID-19 were implemented and vaccination was promoted. However, sufficient attention must be paid to the effects of infection trends on domestic and overseas economies. With regard to the effects of COVID-19, highly transmissible variants continue to spread, while vaccination is becoming more widespread, and it remains difficult to predict when the situation will subside.」
While a recovery is expected from the effects of policy measures and improvements in overseas economies, the document highlights the spread of highly transmissible variants and the need to monitor the effects of infection trends on domestic and overseas economies. The timing of the end of the pandemic also remains difficult to predict. - FY2021WorsenedAnnual report
「Looking ahead, a continued recovery is expected as measures to prevent the spread of infection are implemented, supported by the effects of various policies and improvements in overseas economies. However, sufficient attention must be paid to the increasing downside risk from the spread of infections in Japan and overseas. The effects of volatility in financial and capital markets also require close monitoring.」
In addition to the existing uncertainty in overseas economies and financial and capital markets, the document explicitly cites increasing downside risk from the spread of infections in Japan and overseas. - FY2020-Q3RestatedAnnual report
「Attention must be paid to risks including developments in trade issues, the outlook for the Chinese economy, the effects of the UK's withdrawal from the EU, and the effects of volatility in financial and capital markets.」
Trade issues, the outlook for the Chinese economy, the effects of the UK's withdrawal from the EU, and volatility in financial and capital markets continue to be cited as risks in the external economic environment. - FY2020-Q2RestatedAnnual report
「However, sufficient attention must be paid to the effects of a succession of natural disasters on the economy, tensions over trade issues between the US and China, responses to excessive debt, and the effects of volatility in financial and capital markets.」
Natural disasters, US-China trade issues, responses to excessive debt, and volatility in financial and capital markets are cited as external-environment risks. These are existing external economic risks that continue to be cited. - FY2020-Q1RestatedAnnual report
「However, attention must be paid to risks arising from developments in trade issues, the outlook for China, policy uncertainty, and volatility in financial and capital markets.」
Trade issues, the outlook for the Chinese economy, policy uncertainty, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2019RestatedAnnual report
「However, attention must be paid to the effects of developments in trade issues on the global economy, the outlook for the Chinese economy, uncertainty surrounding overseas economies and policies, and the effects of volatility in financial and capital markets.」
Trade issues, the outlook for the Chinese and overseas economies and policy uncertainty, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2019-Q3RestatedAnnual report
「However, attention must be paid to the effects of developments in trade issues on the global economy, the outlook for economies such as China and other emerging Asian economies, policy uncertainty, and the effects of volatility in financial and capital markets.」
Trade issues, uncertainty surrounding the economies and policies of China and other emerging Asian economies, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2019-Q2RestatedAnnual report
「However, sufficient attention must be paid to volatility in financial and capital markets, including the economic effects of a succession of natural disasters, the effects of geopolitical risks and policy uncertainty in China and other emerging Asian economies, and developments in trade issues.」
Geopolitical risks and policy uncertainty in emerging Asian economies and elsewhere, trade issues, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2019-Q1RestatedAnnual report
「However, attention must be paid to the outlook for economies such as China and other emerging Asian economies, the effects of policy uncertainty, developments in trade issues, and the effects of volatility in financial and capital markets.」
Uncertainty surrounding the economies and policies of China and other emerging Asian economies, trade issues, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2018RestatedAnnual report
「However, attention must be paid to the outlook for economies such as China and other emerging Asian economies, the effects of policy uncertainty, developments in trade issues, and the effects of volatility in financial and capital markets.」
Uncertainty surrounding the economies and policies of China and other emerging Asian economies, trade issues, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2018-Q3RestatedAnnual report
「However, attention must be paid to the outlook for economies such as China and other emerging Asian economies, uncertainty surrounding policies, and the effects of volatility in financial and capital markets.」
The outlook for economies such as China and other emerging Asian economies, policy uncertainty, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2017RestatedAnnual report
「However, attention must be paid to the effects of US monetary policy normalisation, geopolitical risks in Asia and Europe, and uncertainty surrounding policies.」
US monetary policy, geopolitical risks in Asia and Europe, and policy uncertainty are cited as external-environment risks. - FY2017-Q3RestatedAnnual report
「However, attention must be paid to the effects of normalisation of US monetary policy, uncertainty surrounding the outlook and policies of emerging Asian economies, and volatility in financial and capital markets.」
US monetary policy, uncertainty surrounding the economies and policies of emerging Asian economies, and volatility in financial and capital markets continue to be cited as external-environment risks. - FY2017-Q2RestatedAnnual report
「However, attention must be paid to volatility in financial and capital markets, including the effects of normalisation of US monetary policy, the outlook for economies such as China and other emerging Asian economies, and growing uncertainty in overseas economies associated with the UK's withdrawal from the EU.」
US monetary policy, emerging Asian economies including China, the UK's EU withdrawal issue, and volatility in financial and capital markets are reiterated as external-environment risks. - FY2017-Q1RestatedAnnual report
「Attention must be paid to the effects of growing uncertainty in overseas economies, including economic slowdowns in China and other emerging Asian economies, and volatility in financial and capital markets.」
The slowdown in emerging Asian economies, including China, is reiterated as an external-environment risk. - FY2016First statedAnnual report
「As the slowdown in the Chinese economy becomes a reality, its effects are expanding worldwide, and destabilising factors such as a sharp decline in resource and energy prices and excess steel supply are becoming apparent.」
The document describes increasing instability in the external economic environment and indicates effects on corporate earnings and capital investment.