Stagnation in personal consumption and capital investment and an uncertain economic outlook
First written in FY2017-Q1. 17 of 35 entries say "Restated". Latest entry: 2026-11-12.
Asaka Industrial moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 99 of 177 companies on the "Worse" side.
66 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「However, the outlook for the economy remained uncertain due to prolonged geopolitical risks in the Middle East and Eastern Europe, the impact of US trade policy, persistently high raw material and energy prices, and deteriorating consumer sentiment caused by rising prices.」
While the recovery in the economy driven by inbound demand and improvements in employment and income conditions is reported, geopolitical risks, US trade policy, persistently high raw material and energy prices, and rising prices continue to be cited as factors contributing to uncertainty about the outlook. - FY2025WorsenedAnnual report
「During the fiscal year, Japan’s economy remained on a gradual recovery track as employment and income conditions improved and inbound demand increased. However, the outlook remained uncertain amid sharp exchange-rate fluctuations, rising interest rates, concerns over worsening consumer sentiment caused by rising prices, policy developments following the change of administration in the United States, and geopolitical risks related to Russia and Ukraine and the situation in the Middle East.」
While the economic recovery and inbound demand are reported, sharp exchange-rate fluctuations, rising interest rates, rising prices, policy developments under the new US administration, and the situations in Russia and Ukraine and the Middle East are cited as new factors contributing to uncertainty. - FY2025-H1RestatedAnnual report
「At the same time, the outlook remained uncertain amid concerns over worsening consumer sentiment caused by exchange-rate fluctuations and rising prices, as well as persistently high raw material and energy prices against the backdrop of geopolitical risks related to Russia and Ukraine, the situation in the Middle East and elsewhere.」
Exchange-rate fluctuations, rising prices, geopolitical risks and persistently high raw material and energy prices continue to be cited as risk factors. - FY2024RestatedAnnual report
「The reclassification of COVID-19 as a Class 5 disease under Japan’s Infectious Diseases Control Law advanced the normalization of economic activity, personal consumption, including inbound tourism, showed signs of recovery, and the economy recovered gradually. However, the outlook remained uncertain amid soaring energy and raw material prices against the backdrop of prolonged geopolitical risks, including the situation in Ukraine, and weaker consumer sentiment caused by rising prices.」
While the recovery in economic activity and personal consumption following the reclassification of COVID-19 is reported, geopolitical risks, soaring energy and raw material prices and weaker consumer sentiment caused by rising prices continue to be identified as risk factors. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter, the reclassification of COVID-19 as a Class 5 disease under Japan’s Infectious Diseases Control Law advanced the normalization of economic activity, personal consumption, including inbound tourism, showed signs of recovery, and the economy recovered gradually. However, the outlook remained uncertain amid soaring energy and raw material prices against the backdrop of prolonged geopolitical risks, including the situation in Ukraine, and weaker consumer sentiment caused by rising prices.」
While the recovery in economic activity and personal consumption following the reclassification of COVID-19 is reported, prolonged geopolitical risks, soaring energy and raw material prices and weaker consumer sentiment caused by rising prices continue to be identified as risk factors. - FY2024-Q1The normalization of pandemic conditions has coexisted with concerns over higher prices.Annual report
「The reclassification of COVID-19 as a Class 5 disease under Japan’s Infectious Diseases Control Law advanced the normalization of economic activity, personal consumption, including inbound tourism, showed signs of recovery, and corporate performance also began to recover. However, the outlook remained uncertain amid soaring energy and raw material prices due to the increasingly complicated situation in Russia and Ukraine and deteriorating consumer sentiment caused by rising prices.」
While the recovery in economic activity and personal consumption following the reclassification of COVID-19 is reported, soaring energy and raw material prices and weaker consumer sentiment caused by rising prices are identified as new factors contributing to uncertainty. - FY2023WorsenedAnnual report
「During the fiscal year, economic activity in Japan showed signs of a gradual recovery as activity restrictions related to COVID-19 were eased. However, the outlook remained uncertain amid soaring energy and raw material prices due to the prolonged situation in Ukraine and a historic depreciation of the yen against the backdrop of a widening Japan-US interest-rate differential.」
While the easing of activity restrictions provided signs of recovery, the situation in Ukraine, soaring energy and raw material prices and the historic depreciation of the yen emerged as new risk factors, and uncertainty in the external environment has continued. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter, economic activity showed signs of a gradual recovery as activity restrictions related to COVID-19 were eased. However, the outlook remained uncertain amid the resurgence in cases caused by the seventh wave from mid-July onward, soaring energy prices due to the prolonged conflict in Ukraine and a historic depreciation of the yen against the backdrop of a widening Japan-US interest-rate differential.」
While the easing of activity restrictions provided signs of recovery, the resurgence in cases during the seventh wave, soaring energy prices associated with the prolonged conflict in Ukraine and the historic depreciation of the yen emerged as new risk factors, and uncertainty about the outlook has continued. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter, the number of COVID-19 cases in Japan was trending downward and economic activity was gradually moving toward normalization as activity restrictions were eased. However, the outlook remained uncertain amid soaring energy prices caused by the situation in Russia and Ukraine and a historic depreciation of the yen against the backdrop of a widening Japan-US interest-rate differential.」
While activity restrictions related to COVID-19 were eased, soaring energy prices associated with the situation in Russia and Ukraine and the historic depreciation of the yen against the backdrop of the Japan-US interest-rate differential emerged as new risk factors, and uncertainty in the external environment has continued. - FY2022WorsenedAnnual report
「During the fiscal year, Japan’s economy remained in a difficult situation due to the resurgence of COVID-19. However, economic activity showed signs of a gradual recovery after the state of emergency was lifted at the end of September. Nevertheless, the outlook remained uncertain amid restrictions on economic activity caused by the spread of the Omicron variant from the beginning of the year, the impact of soaring raw material prices and geopolitical risks related to the situation in Ukraine.」
While a recovery in economic activity was reported, Omicron, soaring raw material prices and the situation in Ukraine were added as risk factors, and uncertainty about the outlook continued to be reported. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter, Japan’s economy remained in a difficult situation due to the resurgence of COVID-19. However, economic activity showed signs of a gradual recovery after the state of emergency was lifted at the end of September. Nevertheless, the outlook remained uncertain amid the impact of soaring raw material prices and the spread of new variants.」
While economic activity showed signs of recovery, the spread of new variants, in addition to soaring raw material prices, emerged as a risk factor, and uncertainty about the economic outlook has continued. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter, Japan’s economy showed signs of recovery in some areas of economic activity as vaccinations progressed and the government implemented various policies, despite intermittent states of emergency and priority preventive measures amid the resurgence of COVID-19. However, the outlook remained uncertain due to the impact of rising raw material prices and the lack of visibility on when the pandemic would end.」
While some economic activity showed signs of recovery, the resurgence of COVID-19, intermittent states of emergency, soaring raw material prices and uncertainty over when the pandemic would end were reported, and uncertainty surrounding economic conditions, personal consumption and capital investment has continued. - FY2022-Q1WorsenedAnnual report
「Amid the resurgence of COVID-19, states of emergency were reintroduced in some regions and the extension of priority preventive measures continued. Although some economic activity showed signs of recovery following the start of vaccinations and the implementation of various policies, a mood of restraint continued and the outlook remained uncertain.」
The resurgence of COVID-19, the reintroduction of states of emergency and the extension of priority measures are reported, and uncertainty surrounding economic conditions, personal consumption and capital investment has continued. - FY2021MaterialisedAnnual report
「During the fiscal year, the spread of COVID-19 continued to have a significant impact on corporate activities and personal consumption in Japan.」
Uncertainty surrounding economic conditions, personal consumption and capital investment has emerged as an actual impact of COVID-19 on corporate activities and personal consumption. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter, the impact of COVID-19 continued for an extended period both in Japan and overseas, and the number of new cases was also trending upward. The outlook remained uncertain because there was no clear indication of when the pandemic would end.」
In addition to the prolonged COVID-19 pandemic, the rising trend in new cases and the lack of visibility on when the pandemic would end are reported, and uncertainty surrounding economic conditions and capital investment has intensified. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter, COVID-19 had a significant impact both in Japan and overseas. Although the state of emergency was lifted, the number of new cases remained high, and the outlook remained uncertain because there was no clear indication of when the pandemic would end.」
The persistently high number of new COVID-19 cases and the lack of visibility on when the pandemic would end are explicitly reported, and uncertainty surrounding economic conditions and capital investment has continued. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter, COVID-19 had a significant impact both in Japan and overseas. Restrictions on business activities and requests to refrain from nonessential and nonurgent outings were implemented under the state of emergency, resulting in poor economic sentiment and an uncertain outlook.」
In addition to the existing uncertainty surrounding economic conditions, personal consumption and capital investment, restrictions on business activities and requests to refrain from going out due to COVID-19 are explicitly reported, indicating increased external-environment risks. - FY2020MaterialisedAnnual report
「During the fiscal year, Japan’s economy remained on a gradual recovery track as income and employment conditions continued to improve. However, uncertainty about the outlook persisted due to the decline in personal consumption following the consumption tax increase and the impact of COVID-19.」
The decline in personal consumption following the consumption tax increase is explicitly reported, indicating that existing risks involving economic and consumption trends have affected the operating environment. - FY2020-Q2WorsenedAnnual report
「At the same time, many risk factors remain, including expanding geopolitical risks overseas, such as US-China trade tensions and deteriorating Japan-South Korea relations, and uncertainty about the outlook has persisted.」
In addition to the existing US-China trade tensions and expanding geopolitical risks overseas, deteriorating Japan-South Korea relations are explicitly identified as a risk factor. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter, Japan’s economy remained on a gradual recovery track as corporate earnings and employment and income conditions continued to improve. However, uncertainty about the outlook has persisted amid concerns over developments in the US trade situation, the Chinese economy and the situation in the Middle East, as well as the impact of scattered geopolitical risks.」
The gradual recovery in domestic economic conditions has coexisted with uncertainty about the outlook stemming from the US trade situation, the Chinese economy, the situation in the Middle East and geopolitical risks. - FY2019-Q3RestatedAnnual report
「At the same time, many risk factors remain, including US-China trade tensions and expanding geopolitical risks overseas, and uncertainty about the outlook has persisted.」
US-China trade tensions and expanding geopolitical risks overseas are cited as risk factors, and uncertainty about the outlook continues to be reported. - FY2019-Q2WorsenedAnnual report
「At the same time, many risk factors remain, including US-China trade tensions and expanding geopolitical risks overseas, and uncertainty about the outlook has persisted.」
While the domestic economy is on a gradual recovery track, US-China trade tensions and expanding geopolitical risks overseas have emerged as new risk factors, and uncertainty about the outlook has continued. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter, Japan’s economy remained on a gradual recovery track overall, supported by recovering corporate earnings and improvements in employment and income conditions. However, amid concerns over US trade policy and geopolitical risks in emerging Asian economies, including the Middle East and China, uncertainty about the outlook has persisted.」
The gradual recovery in domestic economic conditions has coexisted with uncertainty about the outlook stemming from US trade policy and geopolitical risks in the Middle East, China and elsewhere. - FY2018RestatedAnnual report
「During the fiscal year, Japan's economy remained on a moderate recovery trend, supported by improved corporate earnings and employment and income conditions amid the government's economic policies and the Bank of Japan's continued monetary easing. However, the outlook remained uncertain amid concerns over the impact of the United States' protectionist policy direction, political instability in Europe and overseas geopolitical risks.」
While the domestic economy remains on a moderate recovery trend, the company continues to disclose uncertainty over the outlook due to overseas political and geopolitical risks. - FY2018-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy remained on a moderate recovery trend as corporate earnings and employment and income conditions continued to improve, supported by the government's economic policies and the Bank of Japan's continued monetary easing. However, the outlook remained uncertain amid instability in overseas economic and political conditions and concerns over the impact of overseas geopolitical risks.」
While the domestic economy remains on a moderate recovery trend, uncertainty over the outlook due to instability in overseas economic and political conditions and geopolitical risks continues. - FY2018-Q2Domestic economic recovery coexisting with overseas uncertaintyAnnual report
「During the cumulative second-quarter period, Japan's economy generally remained on a moderate recovery trend, supported by a recovery in personal consumption against a backdrop of improved corporate earnings and employment and income conditions. However, the outlook remained uncertain as uncertainty over overseas economic and political conditions persisted and overseas geopolitical risks became more pronounced.」
While domestic corporate earnings, employment and income conditions, and personal consumption showed signs of recovery, uncertainty over the outlook continued due to uncertainty in overseas economic and political conditions and geopolitical risks. - FY2018-Q1RestatedAnnual report
「During the cumulative first-quarter period, Japan's economy maintained a moderate recovery trend as corporate earnings and employment and income conditions continued to improve. However, the global economy remained unstable due to political risks in Europe and the United States, geopolitical risks in the Middle East and East Asia, and slowdowns in emerging-market economies, leaving the outlook uncertain.」
While the domestic economy is on a recovery trend, the company continues to disclose global economic instability and uncertainty over the outlook against a backdrop of political risks in Europe and the United States, geopolitical risks and a slowdown in emerging-market economies. - FY2017RestatedAnnual report
「Personal consumption remained weak, while capital investment also remained cautious amid uncertainty in the domestic and international economies, resulting in sales of ¥7,879 million, compared with ¥8,229 million in the previous fiscal year.」
Personal consumption and capital investment remained sluggish and uncertainty in the domestic and international economies continued, resulting in a year-on-year decline in annual sales. - FY2017-Q3RestatedAnnual report
「Personal consumption remained weak, while capital investment also remained cautious amid uncertainty in the domestic and international economies, resulting in sales of ¥6,010 million, compared with ¥6,207 million in the same period of the previous year.」
The company continues to identify weak personal consumption and capital investment, together with uncertainty in the domestic and international economies, as external-environment risks. - FY2017-Q2RestatedAnnual report
「Personal consumption and capital investment remained sluggish due to the continuing economic stagnation, and sales were ¥4,110 million, compared with ¥4,304 million in the same period of the previous year.」
The company continues to identify economic stagnation and weak personal consumption and capital investment as external-environment risks. - FY2017-Q1First statedAnnual report
「The foreign exchange and stock markets became unstable due to the impact on the global economy of the UK's decision to leave the EU and concerns over a slowdown in emerging-market economies, particularly China. The outlook for the economy is expected to remain uncertain.」
The company discloses uncertainty over the economic outlook against a backdrop of the UK's departure from the EU and concerns over a slowdown in emerging-market economies. It also states that weak personal consumption and capital investment actually led to a decline in sales.