Uncertainty in the economic environment due to the slowdown in the Chinese economy, falling crude oil prices, the UK's withdrawal from the EU and other factors
First written in FY2017-Q1. 23 of 33 entries say "Restated". Latest entry: 2026-08-13.
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
54 other companies' latest entry also says "Restated".
- 2026-08-13RestatedEarnings
「During the first quarter of the current consolidated fiscal year, Japan's economy was on a gradual recovery track, driven by solid capital investment, although personal consumption remained sluggish due to the prolonged impact of high prices and other factors.」
The Company continues to recognize that the economy is on a gradual recovery track due to solid capital investment, while personal consumption remains sluggish because of high prices. - FY2026MitigatedAnnual report
「During the fiscal year, Japan's economy saw capital investment remain firm, but personal consumption remained sluggish due to the prolonged impact of high prices, and the economic recovery continued to stall.」
Although personal consumption remains sluggish due to high prices, the company's assessment of the economy has improved from the stall through the previous fiscal year to a moderate recovery path driven by firm capital investment. - 2026-05-15WorsenedRevision of earnings forecasts
「Looking ahead, the overall economy is clouded by uncertainty against a backdrop of challenges in procuring raw materials and components resulting from growing instability in the international situation. Personal consumption has also been affected by rising prices, raising concerns about an economic slowdown.」
While recognizing a gradual recovery in the current fiscal year, the outlook for the next fiscal year describes uncertainty across the economy and concerns about an economic slowdown. - FY2026-H1MitigatedAnnual report
「Although personal consumption remained sluggish due to the impact of prolonged high prices, the economy entered a moderate recovery path, driven by firm capital investment.」
Compared with the stalled economic recovery through the previous fiscal year, the company's assessment of the economy has improved to a moderate recovery path supported by firm capital investment, although personal consumption remains sluggish. - FY2025RestatedAnnual report
「During the fiscal year, Japan's economy saw capital investment remain firm, but personal consumption remained sluggish due to the prolonged impact of high prices, and the economic recovery continued to stall.」
While acknowledging the strength of capital investment, the company describes sluggish personal consumption due to prolonged high prices and a stalled economic recovery, maintaining the assessment of the economic environment from the previous interim period. - FY2025-H1WorsenedAnnual report
「During the first six months of the fiscal year, Japan's economy saw capital investment remain firm, but personal consumption remained sluggish due to rising prices, and the economic recovery continued to stall.」
Compared with the previous recognition of a recovery in domestic demand and moderate growth, the company specifically identifies sluggish personal consumption due to rising prices and a stalled economic recovery, indicating a deterioration in its assessment of the economic environment. - FY2024-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy continued to grow moderately, centered on domestic demand, as personal consumption maintained its recovery trend and capital investment also increased.」
The company acknowledges the recovery trend in personal consumption and capital investment and states that moderate growth centered on domestic demand is continuing. - FY2024-Q1RestatedAnnual report
「During the first three months of the fiscal year, Japan's economy showed signs of recovery centered on domestic demand. Personal consumption maintained its recovery trend despite the continuing effects of previously high resource prices and foreign exchange market fluctuations, while capital investment also increased moderately.」
While the effects of high resource prices and foreign exchange market fluctuations continued, the company described the domestic economy, including personal consumption and capital investment, as showing signs of recovery, indicating domestic improvement while maintaining the previously identified economic environment risks. - FY2023WorsenedAnnual report
「During the fiscal year, Japan's economy saw prices continue to rise due to soaring resource prices and sharp foreign exchange market fluctuations, putting pressure on the earnings of companies unable to fully pass on higher costs through their prices.」
The company records the impact on corporate earnings of soaring resource prices and sharp foreign exchange fluctuations, as well as rising prices and insufficient pass-through of higher costs. - FY2023-Q3RestatedAnnual report
「Meanwhile, the outlook for economic conditions remains uncertain due to soaring resource prices and sharp foreign exchange market fluctuations.」
While describing an improvement in the domestic economy, the company continues to indicate uncertainty over the outlook due to soaring resource prices and sharp foreign exchange fluctuations. - FY2023-Q1WorsenedAnnual report
「Meanwhile, the outlook for economic conditions remains uncertain due to the recent rapid increase in COVID-19 cases, rising price levels and the sharp depreciation of the yen.」
In addition to the uncertainty previously associated with infectious diseases and other factors, the company specifically identifies the rapid increase in infections, rising prices and the sharp depreciation of the yen, stating that uncertainty over the economic outlook continues. The effects of infectious diseases, prices and foreign exchange are described as part of the actual economic environment. No numerical measure of the risk is provided. As additional and more specific concerns have been identified rather than merely repeated as boilerplate, this was classified as DETERIORATED. - FY2022RestatedAnnual report
「During the fiscal year, Japan's economy remained uncertain, including capital investment and personal consumption, amid concerns that the spread of new variants could lead to a resurgence of COVID-19 infections and renewed restrictions on movement.」
The company cites concerns over a resurgence of infections and restrictions on movement due to new variants and continues to describe uncertainty over economic trends, including capital investment and personal consumption. - FY2022-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economy saw the state of emergency lifted as the number of COVID-19 cases declined. However, the outlook for economic trends, including capital investment and personal consumption, remains uncertain amid concerns that the emergence of new variants could lead to a resurgence of infections and renewed restrictions on movement.」
While acknowledging the lifting of the state of emergency, the company continues to describe uncertainty over economic trends, including capital investment and personal consumption, amid concerns over a resurgence of infections and renewed restrictions on movement due to new variants. - FY2022-Q2RestatedAnnual report
「Economic trends, including capital investment and personal consumption, remain uncertain.」
The company states that uncertainty over economic trends, including capital investment and personal consumption, has continued even after restrictions on movement related to COVID-19 and the state of emergency were lifted. - FY2021RestatedAnnual report
「During the fiscal year, Japan's economy showed some recovery from the downturn caused by COVID-19. However, capital investment and personal consumption remain uncertain due to restrictions on socioeconomic activity resulting from the resurgence of infections.」
While the economy showed some recovery, the company continues to recognize that capital investment and personal consumption remain uncertain due to the resurgence of infections and restrictions on socioeconomic activity. - FY2021-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economy gradually shifted to a new "normal" referred to as the "new normal" due to the impact of COVID-19. The spread of infections continued in a "third wave," and capital investment and personal consumption remained uncertain.」
The company continues to describe the transition to a new economic environment due to COVID-19, the continuation of the third wave, and uncertainty over capital investment and personal consumption. - FY2021-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy moved toward a new era known as the "new normal" due to the impact of COVID-19. Although economic activity resumed following the lifting of the state of emergency, capital investment and personal consumption remained below pre-pandemic levels, and the outlook remains uncertain.」
The company describes the transition to a new economic environment due to COVID-19 and the fact that capital investment and personal consumption remain below pre-pandemic levels, continuing to recognize an uncertain outlook. As the effects have been specified, the risk has manifested itself in actual economic activity. - FY2021-Q1RestatedAnnual report
「During the first three months of the fiscal year, Japan's economy became increasingly uncertain due to the economic stagnation caused by US-China trade friction and the spread of COVID-19.」
The company cites economic stagnation caused by US-China trade friction and the spread of COVID-19, continuing to describe the uncertainty in the economic environment seen since the previous fiscal year. - FY2020WorsenedAnnual report
「During the fiscal year, Japan's economy continued to recover moderately, including employment conditions and corporate earnings. However, the outlook for economic conditions has become increasingly uncertain due to the consumption tax increase, US-China trade friction and the spread of COVID-19.」
In addition to the previously cited consumption tax increase and US-China trade friction, the company specifically identifies the spread of COVID-19 as a factor contributing to economic uncertainty and states that uncertainty over the outlook has increased further. - FY2020-Q3WorsenedAnnual report
「Electric utilities, which are major customers of the Group, continue to restrain capital investment and demand cost reductions as they promote further management rationalization in response to higher generation costs, efforts to maintain competitiveness against new electric power retailers, and the strengthening of their management base in preparation for the legal separation of their transmission and distribution businesses. Capital investment related to the Group has also tended to be restrained in the telecommunications-related business, resulting in a challenging order environment.」
The company cites the impact on the economy of the consumption tax increase, natural disasters and US-China trade friction, stating that the outlook for economic conditions has become "increasingly uncertain." - FY2020-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy continued to recover moderately, including employment conditions and corporate earnings. However, the outlook for economic conditions has become increasingly uncertain due to the slowdown in the Chinese economy and the impact of escalating US-China trade friction on the global economy.」
While acknowledging the moderate recovery trend in domestic economic conditions, the company states that uncertainty over the outlook continues due to the slowdown in the Chinese economy and the impact of escalating US-China trade friction on the global economy. - FY2020-Q1WorsenedAnnual report
「Electric utilities, which are major customers of the Group, continue to restrain capital investment and demand cost reductions as they promote further management rationalization in response to higher generation costs, efforts to maintain competitiveness against new electric power retailers, and the strengthening of their management base in preparation for the legal separation of their transmission and distribution businesses. Capital investment related to the Group has also tended to be restrained in the telecommunications-related business, resulting in a challenging order environment.」
The company cites the slowdown in the Chinese economy and the impact of escalating US-China trade friction on the global economy, stating that the outlook for economic conditions has become "increasingly uncertain." - FY2019RestatedAnnual report
「During the fiscal year, Japan's economy remained on a moderate recovery path, including employment conditions and corporate earnings, against a backdrop of proactive government economic policies. However, the outlook remains uncertain due to unstable political developments overseas, including protectionist policies in the United States and the slowdown in the Chinese economy.」
While acknowledging the moderate recovery trend in the domestic economy, the annual report continues to describe uncertainty over the outlook due to overseas factors, including protectionist policies in the United States and the slowdown in the Chinese economy. - FY2019-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economy remained on a moderate recovery path, including employment conditions and corporate earnings, against a backdrop of proactive government economic policies. However, the outlook remains uncertain due to unstable political developments overseas, including protectionist policies in the United States and the slowdown in the Chinese economy.」
While acknowledging the moderate recovery trend in the domestic economy, the company continues to describe uncertainty over the outlook due to overseas factors, including protectionist policies in the United States and the slowdown in the Chinese economy. - FY2019-Q2RestatedAnnual report
「Electric utilities, which are major customers of the Group, continue to restrain capital investment and demand further cost reductions as they promote management rationalization in preparation for the planned legal separation of their transmission and distribution businesses, in addition to the impact of higher costs for alternative power-generation fuels following the suspension of nuclear power generation. NTT has also tended to restrain capital investment related to the Group, resulting in a challenging order environment.」
While describing the recovery trend in the domestic economy, the company continues to report uncertainty over the outlook due to unstable political developments overseas, including protectionist policies in the United States. - FY2019-Q1RestatedAnnual report
「Electric utilities, which are major customers of the Group, continue to restrain capital investment and demand further cost reductions as they promote management rationalization in preparation for the planned legal separation of their transmission and distribution businesses, in addition to the impact of higher costs for alternative power-generation fuels following the suspension of nuclear power generation. NTT has also tended to restrain capital investment related to the Group, resulting in a challenging order environment.」
While describing the domestic economy as being on a moderate recovery path, the company continues to recognize that the outlook is uncertain due to unstable political developments overseas. - FY2018-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economy remained on a moderate recovery path, including employment conditions and corporate earnings, as the government implemented proactive economic policies. However, concerns remain over the impact of the overseas economy and foreign exchange market trends, and the outlook remains uncertain.」
While acknowledging the moderate recovery trend in the domestic economy, the company continues to describe uncertainty over the outlook due to overseas economic conditions and foreign exchange market trends. - FY2018-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy remained on a moderate recovery path, including employment conditions and corporate earnings, as the government implemented proactive economic policies. However, concerns remain over the impact of the overseas economy and foreign exchange market trends, and the outlook remains uncertain.」
While acknowledging the moderate recovery trend in the domestic economy, the company continues to describe concerns over the impact of the overseas economy and foreign exchange market trends and the uncertainty of the outlook. - FY2018-Q1RestatedAnnual report
「During the first three months of the fiscal year, Japan's economy remained on a moderate recovery path as the government implemented proactive economic policies. However, concerns remain over the impact of the overseas economy and foreign exchange market trends, and the outlook remains uncertain.」
While acknowledging the moderate recovery trend in the domestic economy, the company continues to describe concerns over the impact of the overseas economy and foreign exchange market trends and the uncertainty of the outlook. - FY2017RestatedAnnual report
「During the fiscal year, Japan's economy remained on a moderate recovery path as the government implemented proactive economic policies. However, overseas conditions remain uncertain due to the UK's withdrawal from the EU and slowing economic growth in emerging Asian economies, including China.」
While acknowledging the moderate recovery trend in the domestic economy, the annual report continues to describe uncertainty in the overseas economy due to the UK's withdrawal from the EU and slowing growth in China and emerging Asian economies. - FY2017-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economy remained on a moderate recovery path as the government implemented proactive economic policies. However, overseas conditions remain uncertain due to the UK's withdrawal from the EU and slowing economic growth in emerging Asian economies, including China.」
While the domestic economy is on a moderate recovery path, the company states that the overseas outlook remains uncertain due to the UK's withdrawal from the EU and slowing growth in China and emerging Asian economies. - FY2017-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy remained on a moderate recovery path as the government implemented proactive economic policies. However, the outlook remains uncertain, as the trend toward a stronger yen has intensified due to the UK's withdrawal from the EU and slowing economic growth in emerging Asian economies, including China.」
Despite the moderate recovery trend, the company continues to describe the outlook as uncertain due to the UK's withdrawal from the EU, slowing growth in China and emerging Asian economies, and the stronger yen. - FY2017-Q1First statedAnnual report
「Against a backdrop of the slowdown in the Chinese economy and falling crude oil prices, the financial markets, exports and capital investment have begun to be affected. Overseas conditions also remain uncertain, owing to the UK's withdrawal from the EU and slowing economic growth in emerging economies, including China.」
The disclosure states that the domestic and overseas economic slowdown and changes in the political and market environment are affecting the financial markets, exports and capital investment.