Weakness or stagnation in domestic and overseas markets
First written in FY2017-Q1. 20 of 36 entries say "Worsened", first in FY2017-Q2. Latest entry: FY2026.
Tenryu Saw Mfg. 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: 131 of 174 companies on the "Worse" side.
61 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「During the current consolidated fiscal year, personal consumption in the United States has stagnated against a backdrop of deteriorating employment conditions and rising prices, and the economy is on a slowing trend. In Europe, exports declined due to the impact of U.S. tariff policy, but personal consumption provided support and the economy continued to recover gradually. In China, external demand has continued to grow, but the economy has stalled due to weakness in the real estate market and stagnation in domestic demand.」
The U.S. economic slowdown, declining European exports, and weakness in China's real estate market and domestic demand are described, indicating that weakness and uncertainty persist in overseas markets. - FY2026-H1WorsenedAnnual report
「During the interim period of the current consolidated fiscal year, the global economy as a whole continued to slow. In the United States, higher tariffs imposed by the government have pressured corporate earnings and weighed on the economy. In Europe, services have remained resilient, while weak manufacturing has been a drag on the economy. In China, the effect of the government's subsidy policies has waned, and the economy has continued to slow as domestic demand stagnated. In Japan, the recovery in personal consumption has supported the economy, and a gradual recovery trend is expected to continue going forward.」
The generally slowing global economy, higher U.S. tariffs, weak European manufacturing, and stagnation in China's domestic demand and economy are described, indicating that weakness and uncertainty persist in overseas markets. In contrast, the Japanese economy is described as remaining on a gradual recovery trend supported by personal consumption. - FY2025WorsenedAnnual report
「During the current consolidated fiscal year, U.S. production activity has strengthened, but declining personal consumption has weighed on the economy. In Europe, inflation has declined, but consumer sentiment has deteriorated and the economy is slowing. In China, the economy has shown signs of recovery led by domestic demand, but a sustained recovery is not expected because of weak external demand.」
The decline in personal consumption in the United States, worsening consumer sentiment and a slowdown in Europe, and the difficulty of achieving a sustained recovery in China due to weak external demand are described, indicating that uncertainty in regional economic conditions persists. - FY2025-H1U.S. growth maintained and China's exports improved, while Europe stagnatedAnnual report
「During the interim period of the current consolidated fiscal year, the global economy has generally maintained solid growth against a backdrop of easing inflation. The U.S. economy has maintained growth supported by robust personal consumption, although capital investment and residential investment have been weighed down by the effects of interest rate hikes. Meanwhile, the European economy has stalled significantly due to the weak German economy. China's economy has improved recently, supported by strong exports, but domestic demand has generally stagnated, forcing the economy to remain at a low growth rate.」
The global economy as a whole and the United States have remained solid and maintained growth, while China has improved on the back of exports. At the same time, stagnation in European growth and China's domestic demand are noted together. - FY2024WorsenedAnnual report
「During the current consolidated fiscal year, the U.S. economy has remained firm despite prolonged monetary tightening, supported by robust employment and income conditions. The European economy has stagnated as monetary tightening has restrained domestic demand. China's economy has shown weakness in the real estate market and external-demand-related sectors, and a gradual slowdown has continued.」
While U.S. economic strength is noted, stagnation in European domestic demand, weakness in China's real estate market and external demand, and a gradual slowdown have continued. The domestic economy is also described as having stalled due to high prices and a slowdown in the recovery of overseas economies. - FY2024-Q3WorsenedAnnual report
「During the third quarter of the current consolidated fiscal year, the global economy has been slowing against a backdrop of increasing instability in international affairs. Despite monetary tightening, the U.S. economy has maintained a high growth rate as robust employment and income conditions have supported consumption. The European economy has stagnated as high prices and monetary tightening have weakened domestic demand. Although China's economy has maintained a growth rate of around the government's target of 5% year on year, uncertainty over the outlook has increased due to adjustments in the real estate market and slowing external demand.」
The description has shifted from the previous quarter's statement that the outlook remained uncertain to a slowing global economy against a backdrop of increasing instability in international affairs, stagnation in Europe, and heightened uncertainty in China due to real estate market adjustments and slowing external demand. The financial impact of imminent risks is not shown. - FY2024-Q2RestatedAnnual report
「In Japan, capital investment and personal consumption have been recovering gradually as restrictions on activity related to COVID-19 have been eased. However, the outlook remains uncertain amid heightened geopolitical risks, soaring resource prices, monetary tightening and concerns about a global economic slowdown.」
While capital investment and personal consumption have shown gradual improvement in Japan, the view remains that the outlook is uncertain due to geopolitical risks, soaring resource prices, monetary tightening and concerns about a global economic slowdown. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the economies of the United States and Europe continued to slow due to monetary tightening by central banks to contain inflation and the impact of Russia's invasion of Ukraine. In China, although the end of the zero-COVID policy has brought some movement toward normalization, weakness remains in real estate investment and production activity, and the pace of economic recovery has been gradual. In Japan, restrictions on activity were eased after COVID-19 was reclassified under the Infectious Diseases Act, and personal consumption showed signs of recovery. However, concerns about a global economic slowdown caused by monetary tightening and soaring resource prices have spread, and the outlook remains uncertain.」
The slowdown in the United States and Europe, China's gradual recovery and weakness in real estate investment and production activity, and uncertainty over the domestic and overseas economic outlook are described, indicating that deterioration and uncertainty in economic conditions continue. Monetary tightening, the invasion of Ukraine and soaring resource prices are identified as major factors. - FY2023-Q3WorsenedAnnual report
「During the third quarter of the current consolidated fiscal year, business sentiment in the United States and Europe deteriorated due to sharply rising prices, continued interest rate hikes by central banks, and soaring energy prices resulting from the situation in Ukraine. In China, the pace of economic recovery showed signs of slowing as the zero-COVID policy weighed on personal consumption and restricted production activity.」
The deterioration in business sentiment in the United States and Europe and the slowdown in China's economic recovery due to weak personal consumption and restrictions on production are noted, indicating that the market environment continues to worsen. Although deterioration in the external environment is explicitly described, the financial impact of these risks is not shown separately. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current consolidated fiscal year, the global economy saw worsening business sentiment in the United States against a backdrop of monetary tightening to contain inflation, while economic growth in Europe also slowed due to soaring energy prices and rising interest rates. In China, lockdowns were imposed in major cities and elsewhere under the zero-COVID policy, and the pace of economic recovery showed signs of slowing. The Japanese economy showed signs of recovery as restrictions on activity related to COVID-19 were eased. However, the economic outlook remained uncertain due to soaring resource, raw material and energy prices, concerns about an economic slowdown resulting from monetary tightening worldwide, and production adjustments caused by shortages of semiconductors and various components.」
The deterioration in U.S. business sentiment, slower growth in Europe, and the slowdown in China's recovery due to lockdowns are noted, indicating a shift from the recovery trend described in the previous quarter toward a worsening market environment. Although the domestic economy is recovering, uncertainty persists due to soaring prices, monetary tightening and supply shortages. - FY2023-Q1Recovery trend coexisting with China's slowdown and supply constraintsAnnual report
「The Japanese economy showed signs of recovery as restrictions on activity related to COVID-19 were eased. At the same time, the economic outlook remains uncertain due to soaring energy and raw material prices and transportation costs, the impact of global interest rate hikes led by the United States, and production adjustments resulting from shortages of semiconductors and components.」
The domestic economy recovered as restrictions on activity were eased, while energy and raw material prices, transportation costs, global interest rate hikes, and production adjustments caused by shortages of semiconductors and components continued to create uncertainty. - FY2022Recovery coexisting with geopolitical and supply constraint risksAnnual report
「The global economy is expected to remain on a recovery trend as countries ease restrictions on activity in response to COVID-19. However, the outlook remains highly uncertain due to soaring energy and other prices resulting from the situation in Ukraine and supply chain disruptions caused by China's continued zero-COVID policy.」
While an economic recovery is expected as countries ease restrictions on activity, the situation in Ukraine, China's zero-COVID policy, supply chain disruptions and soaring energy prices have emerged as new sources of uncertainty. - FY2022-Q3Recovery coexisting with new supply constraints and rising costsAnnual report
「The Japanese economy showed signs of recovery as the number of infections declined alongside the higher COVID-19 vaccination rate and the state of emergency was lifted. However, the outlook remains uncertain due to the subsequent resurgence of infections caused by the highly transmissible Omicron variant, shortages of semiconductors and other components, and soaring raw material and transportation costs.」
While recovery after the lifting of the state of emergency is noted, the outlook remains uncertain due to the Omicron variant, shortages of components, and soaring raw material and transportation costs, indicating a complex situation. - FY2022-Q2WorsenedAnnual report
「The Japanese economy showed signs of recovery, supported by an increase in exports accompanying the recovery of overseas economies and other factors. However, the situation remained difficult as states of emergency were declared intermittently due to the resurgence of COVID-19, restricting economic activity.」
The assessment has shifted from the recovery trend in the United States, Europe and China described in the previous quarter to a recognition that the domestic economy remains difficult as the resurgence of infections and states of emergency have restricted economic activity. A slowdown in the pace of China's economic recovery is also noted. - FY2022-Q1MitigatedAnnual report
「During the first quarter of the current consolidated fiscal year, economic conditions in advanced economies have been improving as vaccination against COVID-19 has progressed and measures such as travel restrictions have been lifted gradually. In particular, the recovery of the U.S. economy has become more pronounced as economic activity has resumed and additional government economic measures have boosted personal consumption. In Europe as well, personal consumption and corporate earnings have improved, and the economy is beginning to recover. In China, exports and production have continued to increase steadily, and the economy has remained on a recovery track.」
The description has shifted from the difficult market environment caused by the spread of infections and lockdowns through the previous fiscal year to an economic recovery and improvement centered on the United States, Europe and China, indicating that the risk of a market downturn has weakened. Meanwhile, the Japanese economy remains difficult, and the outlook remains uncertain amid the spread of infections caused by variants of the virus. - FY2021-Q3WorsenedAnnual report
「During the third quarter of the current consolidated fiscal year, China's economic recovery accelerated, while a gradual recovery continued in Europe and the United States due to the effects of government economic measures and the gradual resumption of economic activity. However, the spread of COVID-19 became even more serious, and the economic outlook remained uncertain, with lockdowns being reintroduced in some countries and regions.」
It states that China's recovery accelerated, while the spread of COVID-19 became even more serious and lockdowns were reintroduced in some regions. Uncertainty over the outlook for the global economy increased. - FY2021-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, the global economy was in an extremely difficult situation due to the spread of COVID-19, but signs of a gradual recovery have emerged as economic activity has gradually resumed in Europe and the United States. However, concerns about a resurgence of infections remain strong, and the economic outlook continues to be uncertain. In China, although some industries have shown signs of recovery, the pace of recovery has remained slow, partly due to the impact of trade friction with the United States.」
While signs of recovery have emerged in Europe, the United States and China, concerns about a resurgence of infections, uncertainty over the economic outlook and China's gradual recovery are noted together, indicating that uncertainty in the market environment persists. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the global economy entered an extremely difficult situation as the spread of COVID-19 severely impacted social and economic activity. In Europe and the United States, uncertainty over the economic outlook has continued to increase as economic activity has been constrained by business closures, restrictions on going out and travel, and other measures. In China, although there were signs that economic activity was resuming in some areas, personal consumption and corporate performance deteriorated significantly, and the economy slowed sharply amid the impact of protectionist policies adopted by the governments of major countries.」
The description of the market environment has become more specific, moving from the previous references to an economic slowdown and uncertainty to the severe impact of the spread of COVID-19 on social and economic activity, restrictions on economic activity in Europe and the United States, and China's sharp economic slowdown. - FY2020WorsenedAnnual report
「In China, exports have declined due to the impact of trade friction with the United States, while weaker personal consumption and other factors have caused a significant downturn in economic conditions. In Europe as well, economic growth has continued to slow amid worsening corporate performance, particularly in manufacturing, and the issue of the UK's withdrawal from the EU.」
It states that China's economy has deteriorated significantly and that Europe's economic slowdown has continued. In addition, the outlook for the domestic and overseas economies has become uncertain due to COVID-19. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, employment conditions continued to improve in the United States and personal consumption remained firm, but corporate capital investment stagnated and signs of weakening began to appear in the economy. In China, exports declined owing to the effects of trade friction between the United States and China, and the economy continued to slow amid a decline in personal consumption and other factors. In Europe, corporate performance deteriorated, particularly in manufacturing, and the economy generally remained weak amid the issue of the United Kingdom's withdrawal from the EU.」
Describes China's economic slowdown, weak economic conditions in Europe, and signs of weakening in the United States, indicating that the recognition of a deteriorating and uncertain market environment through the previous quarter has continued. - FY2020-Q2WorsenedAnnual report
「In China, the economic slowdown continued because of the effects of trade friction between the United States and China and a slowdown in domestic demand. In Europe, the economy continued to slow owing to deteriorating corporate performance, particularly in manufacturing, and the issue of the United Kingdom's withdrawal from the EU, while emerging market economies also generally weakened. However, amid the chaotic global situation, uncertainty over the outlook for the economies of Japan and the world has increased further.」
States that China's economic slowdown, Europe's downward trend, and weakness in emerging market economies have continued, and that uncertainty over the outlook for domestic and overseas economies has increased further. - FY2020-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the global economy continued to recover in the United States, supported by continued improvement in employment conditions, firm personal consumption, and capital investment. In China, economic growth slowed because of the effects of trade friction between the United States and China and a slowdown in domestic demand. In Europe, growth slowed owing in part to the slowdown in China's economy, and emerging market economies also weakened.」
Describes slower economic growth in China, slower growth in Europe, and weakness in emerging market economies, indicating that deterioration in the global market environment has continued. - FY2019WorsenedAnnual report
「Meanwhile, trade friction between the United States and China has increased concerns over an economic slowdown and uncertainty over the outlook for the global economy, including China.」
The description of the global economy, including China, has deteriorated from stable growth and a recovery trend to heightened concerns over a slowdown and greater uncertainty over the outlook owing to trade friction between the United States and China. - FY2019-Q3WorsenedAnnual report
「In China, the economy has been trending downward owing to trade friction with the United States and other factors, while emerging markets have generally remained firm. However, concerns over trade friction between the United States and China and other factors have increased uncertainty over the outlook for the global economy, including Japan.」
Compared with the previous descriptions of stable growth in China and a recovery trend in emerging markets, the disclosure states that China's economy is trending downward because of trade friction with the United States and that uncertainty over the outlook for the global economy has increased. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy remained firm in the United States, where industrial production continued to trend upward and favorable employment and income conditions provided support. In Europe, the recovery in personal consumption and capital investment continued, and moderate growth persisted. China also maintained generally stable growth, while emerging and resource-rich economies as a whole maintained a gradual recovery trend.」
Reiterates the recognition that conditions have remained firm and that recovery or stable growth has continued in the United States, Europe, China, and emerging and resource-rich economies. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the global economy continued to recover in the United States, supported by improving employment conditions and increased personal consumption. In Europe, recovery in personal consumption and capital investment provided support for continued moderate growth. China maintained stable growth, supported by fiscal and monetary policy measures, while emerging and resource-rich economies as a whole continued on a gradual recovery trend.」
Reiterates the recognition that recovery or stable growth has continued in the United States, Europe, China, and emerging and resource-rich economies. - FY2018RestatedAnnual report
「During the current consolidated fiscal year, the global economy continued to recover in the United States against a backdrop of steady improvements in employment and income conditions. In Europe, a firm economic recovery continued, supported by personal consumption, capital investment, and other factors. In China, generally stable growth continued, supported by increased exports and the effects of economic support measures, while emerging and resource-rich economies as a whole continued on a gradual recovery trend.」
Describes continued recovery or stable growth in the United States, Europe, China, and emerging and resource-rich economies, while maintaining the previous recognition of risks from weak or slowing markets. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the global economy continued its steady recovery in the United States, supported by improvements in employment and income conditions. In Europe, personal consumption and capital investment remained firm, and moderate growth continued. In China, stable economic growth continued, supported by the effects of various policies, while emerging market economies continued on a recovery trend.」
Reiterates the recognition that recovery, growth, or stability has continued in the United States, Europe, China, and emerging markets. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy continued to recover in the United States, supported by improvements in employment and income conditions, although concerns remained over the effects of major hurricanes. In Europe, both personal consumption and capital investment remained firm, and moderate growth continued. In China, stable economic growth continued, supported by government economic measures, while emerging markets showed signs of recovery.」
Reiterates the recognition that recovery, growth, stability, or a pickup has continued in the United States, Europe, China, and emerging markets. At the same time, concerns over the effects of major hurricanes in the United States are newly disclosed. - FY2018-Q1MitigatedAnnual report
「Although uncertainty remains over the outlook for economic policy in the United States, the recovery trend has continued, supported by improvements in employment and income conditions. In Europe, both personal consumption and capital investment have remained firm, and moderate growth has continued. In China, stable economic growth has continued, partly as a result of economic support measures, while emerging markets have shown signs of recovery. In Japan, personal consumption has remained firm, and industrial production and capital investment have continued their gradual recovery.」
Compared with the previous fiscal year, when weakness and slowing growth were described in China and emerging markets, the disclosure describes recovery, stability, or a pickup in the United States, Europe, China, emerging markets, and Japan, indicating that recognition of risks in the market environment has eased. - FY2017RestatedAnnual report
「Although some weakness remains in emerging markets, signs of improvement have appeared in China, supported by government economic measures and other factors.」
While continuing to recognize that some emerging markets remain weak, the disclosure states that signs of improvement have appeared in China. - FY2017-Q3RestatedAnnual report
「In the United States, personal consumption has remained firm against a backdrop of improvements in employment and income conditions, while economic growth has continued to slow in China and emerging markets, although signs of improvement have appeared in some areas.」
Although the slowdown in China and emerging markets has continued, the disclosure states that there are signs of improvement in some areas. The recognition of the risk itself remains unchanged. - FY2017-Q2WorsenedAnnual report
「In the United States, personal consumption has remained firm against a backdrop of improvements in employment and income conditions, while economic growth has continued to slow in China and emerging markets.」
The description has changed from the previous quarter's statement that conditions in China and emerging markets were weak, particularly on the export front, to a statement that economic growth in China and emerging markets continues to slow. The domestic market has remained broadly flat. This describes conditions actually observed in the external environment rather than quantified data. - FY2017-Q1First statedAnnual report
「In China and emerging markets, weak conditions have continued, mainly on the export front.」
Describes weak exports from China and emerging markets as an external factor, stating that both overseas and domestic markets remained broadly flat during the quarter.