Economic Slowdowns in Japan and Overseas and Weak Consumer Sentiment
First written in FY2017-Q1. 16 of 32 entries say "Restated". Latest entry: FY2026.
Nhk Spring 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 176 companies on the "Worse" side.
19 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「During the current consolidated fiscal year, the global economy remained generally resilient despite continued geopolitical risks and uncertainty surrounding monetary policy. However, economic conditions varied by region, and uncertainty about the outlook persisted.」
In addition to policy shifts in various countries and concerns about an economic recession, the company emphasizes geopolitical risks, uncertainty surrounding monetary policy, and regional disparities in economic conditions. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period under review, there were no significant changes in the matters described in this interim report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no significant changes in business and other risks from the previous fiscal year. - FY2025ReframedAnnual report
「During the current consolidated fiscal year, the global economy maintained resilient growth despite rising risks. However, uncertainty increased due to heightened geopolitical tensions, continued concerns about an economic recession, and policy shifts in countries around the world.」
The company emphasizes geopolitical tensions, concerns about an economic recession, and policy shifts in various countries as the main sources of uncertainty, replacing its previous focus on high interest rates and concerns about the Chinese economy. - FY2025-H1ReframedAnnual report
「During the first six months of the current consolidated fiscal year, the global economy faced the effects of continued high interest rate levels in Europe and the United States and concerns about the outlook for the Chinese economy. However, Japan was on a moderate recovery trend, while the US economy continued to expand.」
The company cites continued high interest rates in Europe and the United States and concerns about the outlook for the Chinese economy as the main uncertainties, replacing the previously cited soaring energy and material prices. It also notes Japan’s recovery and continued expansion in the United States. - FY2024-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, the global economy showed signs of recovery, but uncertainty about the outlook persisted due to global interest rate increases and soaring energy and various material prices.」
The company continued to cite signs of economic recovery and uncertainty about the outlook due to global interest rate increases and soaring energy and material prices. - FY2024-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, the global economy showed signs of recovery, but uncertainty about the outlook persisted due to global interest rate increases and soaring energy and various material prices.」
While indicating signs of economic recovery, the company emphasizes global interest rate increases and soaring energy and material prices, rather than the previously cited pandemic and geopolitical risks, as factors contributing to uncertainty about the outlook. - FY2023RestatedAnnual report
「During the current consolidated fiscal year, the global economy showed signs of recovery, but uncertainty about the outlook persisted due to the COVID-19 pandemic, tight semiconductor supply and demand, the impact of soaring prices for various materials and foreign exchange fluctuations, and Russia’s invasion of Ukraine.」
The company continued to cite signs of economic recovery, alongside uncertainty about the outlook due to the pandemic, semiconductor supply and demand, material prices, foreign exchange, and geopolitical risks. - FY2023-Q3RestatedAnnual report
「During the first nine months of the current consolidated fiscal year, the global economy showed signs of recovery, but uncertainty about the outlook persisted due to the COVID-19 pandemic, tight semiconductor supply and demand, the impact of soaring prices for various materials and foreign exchange fluctuations, and Russia’s invasion of Ukraine.」
While the economy showed signs of recovery, the company continued to cite uncertainty about the outlook due to the COVID-19 pandemic, tight semiconductor supply and demand, soaring material prices, foreign exchange fluctuations, and Russia’s invasion of Ukraine. - FY2023-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, the global economy showed signs of recovery, but uncertainty about the outlook persisted due to the COVID-19 pandemic, tight semiconductor supply and demand, the impact of soaring prices for various materials and foreign exchange fluctuations, and Russia’s invasion of Ukraine.」
While the economy showed signs of recovery, the company continued to cite uncertainty about the outlook due to the COVID-19 pandemic, tight semiconductor supply and demand, soaring material prices, foreign exchange fluctuations, and Russia’s invasion of Ukraine. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the global economy showed signs of recovery, but uncertainty about the outlook persisted due to the impact of the COVID-19 pandemic, tight semiconductor supply and demand, soaring prices for various materials, and Russia’s invasion of Ukraine.」
While the economy showed signs of recovery, the company continued to cite uncertainty about the outlook due to the COVID-19 pandemic, tight semiconductor supply and demand, soaring material prices, and Russia’s invasion of Ukraine. - FY2022WorsenedAnnual report
「In addition, soaring prices for resources, energy and other commodities driven by Russia’s invasion of Ukraine are slowing global economic growth and increasing inflationary pressures. It is difficult to forecast when these effects will subside, and difficult to reasonably quantify or anticipate the associated risks.」
The company explicitly identifies the COVID-19 pandemic, tight supply and demand, and soaring resource and energy prices and inflationary pressures resulting from Russia’s invasion of Ukraine as new economic risks. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, the global economy remained in severe conditions due to the COVID-19 pandemic and tight supply and demand for semiconductors and various materials, although Japan and the U.S. continued to show signs of economic recovery.」
While the global economy remained severe, the Company describes economic recovery in Japan and the U.S., recovery in China, and a recovery in Thailand, maintaining its assessment from the previous quarter. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the global economy remained in severe conditions due to the COVID-19 pandemic and tight supply and demand for semiconductors and various materials, although Japan and the U.S. continued to show signs of economic recovery.」
While describing economic recovery in Japan and the U.S., the Company explicitly identifies the COVID-19 pandemic and tight supply and demand for semiconductors and various materials as factors behind the continued severity of the global economy. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter under review, the economies of Japan and the U.S. remained in severe conditions due to the impact of the COVID-19 pandemic, although they continued to show signs of recovery. China likewise experienced a substantial contraction in economic activity, but recovered earlier than other regions. Meanwhile, Thailand's economy remained in severe conditions, although signs of a bottoming out were seen.」
The Company continues to describe the regional economic picture as recovery from severe conditions in Japan and the U.S., recovery in China, and severe conditions in Thailand. - FY2021MitigatedAnnual report
「During the consolidated fiscal year under review, the global economy remained in extremely severe conditions in the first half due to the slowdown in economic growth from the previous year caused by U.S.-China trade friction, geopolitical risks, and other factors, as well as the impact of the COVID-19 pandemic, but began to recover in the second half.」
The Company states that the global economy was in extremely severe conditions in the first half due to the COVID-19 pandemic, but began to recover in the second half. - FY2021-Q3MitigatedAnnual report
「During the cumulative third quarter under review, the economies of Japan and the U.S. remained in severe conditions due to the impact of the COVID-19 pandemic, but subsequently showed signs of recovery. China likewise experienced a substantial contraction in economic activity, but recovered earlier than other regions. Thailand's economy remained in severe conditions, although the decline appeared to be bottoming out.」
The Company states that Japan and the U.S. showed signs of recovery from severe conditions, while China's recovery progressed. Thailand's decline was also said to be bottoming out, indicating some easing of economic risks compared with the previous quarter. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, the economies of Japan, the U.S., and India remained in extremely severe conditions due to the impact of the COVID-19 pandemic, although some signs of recovery were seen. China likewise experienced a substantial contraction in economic activity, but began to recover earlier than other regions. Meanwhile, Thailand's economy remained in severe conditions.」
The Company describes extremely severe economic conditions in Japan, the U.S., and India, China's recovery, and severe conditions in Thailand, with no material change in its assessment of economic risks from the previous quarter. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the economies of Japan, the U.S., and India remained in extremely severe conditions due to the impact of the COVID-19 pandemic. China likewise experienced a substantial contraction in economic activity, although signs of recovery were seen. Economic activity in Thailand remained weak.」
The Company's assessment has deteriorated from the economic slowdown and uncertainty about the outlook seen through the previous fiscal year to extremely severe conditions in Japan, the U.S., and India due to the COVID-19 pandemic, a substantial contraction in China's economic activity, and weak economic activity in Thailand. - FY2020WorsenedAnnual report
「During the consolidated fiscal year under review, global economic growth slowed due to U.S.-China trade friction, geopolitical risks, and other factors, with the growth rate falling to its lowest level since the global financial crisis. In Japan, solid domestic demand offset weakening external demand resulting from the global slowdown, allowing the economy to remain barely on a recovery path. However, the economy reached a turning point following the October consumption tax increase and was then pushed sharply lower by the impact of the COVID-19 pandemic.」
In addition to the global slowdown caused by U.S.-China trade friction and other factors, the Company explicitly identifies the downward pressure on the economy from the COVID-19 pandemic, indicating a deterioration in its assessment of economic risks. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy remained on a gradual recovery path, despite weakness in exports and production, supported by improvements in employment and income conditions. In the global economy, the U.S. recovery continued, as increased personal consumption outweighed declining capital investment. In Asia, China's economy slowed gradually, while economic activity in Thailand and India remained weak.」
The Company continues to cite weakness in Japanese exports and production, declining U.S. capital investment, an economic slowdown in China, and weak economic activity in Thailand and India, with no material change in its assessment of economic risks from the previous quarter. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the Japanese economy remained on a gradual recovery path, despite weakness in exports and production, supported by improvements in employment and income conditions. In the global economy, the U.S. recovery continued, as increased personal consumption outweighed weakness in capital investment. In Asia, China's economy slowed gradually, while economic activity in Thailand and India remained weak.」
The Company describes weakness in Japanese exports and production, an economic slowdown in China, and weak economic activity in Thailand and India, indicating a deterioration in its assessment from the previous quarter, when Thailand and India were on a recovery path. - FY2020-Q1WorsenedAnnual report
「In the global economy, U.S. personal consumption remained strong, but the economy showed signs of slowing due to declines in exports and capital investment resulting from the trade war. In Asia, China's economy slowed gradually, while Thailand and India saw gradual economic recovery.」
The Company newly highlights declines in U.S. exports and capital investment due to the trade war and a gradual slowdown in China, with the uncertainty described through the previous quarter now presented as specific economic deterioration. - FY2019-Q3WorsenedAnnual report
「During the third quarter under review, the Japanese economy recovered gradually, with personal consumption showing signs of recovery due to improvements in employment and income conditions. The U.S. economy remained solid, supported by increases in personal consumption and capital investment. In Asia, China's economic growth slowed, while Thailand and India saw economic recovery. However, concerns about trade friction between Europe and China resulting from the U.S. administration's protectionist trade policies remain, and the economic outlook continues to be uncertain.」
While describing the Japanese and U.S. economies as recovering or solid, the Company cites slowing economic growth in China and uncertainty about the outlook due to trade friction, indicating that economic risks are increasing, particularly in China. - FY2019-Q2RestatedAnnual report
「However, concerns about trade friction between Europe and China resulting from the U.S. administration's protectionist trade policies remain, and the economic outlook continues to be uncertain.」
The Company continues to cite concerns about the U.S.'s protectionist trade policies, trade friction with Europe and China, and uncertainty about the economic outlook. - FY2019-Q1WorsenedAnnual report
「However, concerns about trade friction between Europe and China resulting from the U.S. administration's protectionist trade policies remain, and the economic outlook continues to be uncertain.」
While describing recovery and growth in the economies of Japan, the U.S., China, and other countries, the Company newly highlights concerns about the U.S.'s protectionist trade policies and trade friction with Europe and China, stating that the outlook remains uncertain. - FY2018RestatedAnnual report
「Because the Group supplies automotive-related and information equipment-related products, its principal business sectors, globally, it is strongly affected by fluctuations in the global economy.」
Against the backdrop of its global supply operations, the Company identifies sharp fluctuations in the global economy and their potential impact on operating performance and financial condition as a formal risk item. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy recovered gradually, supported by improved corporate earnings, higher share prices, and improvements in employment conditions. In the global economy, the U.S. expansion continued, with personal consumption and capital investment trending upward. In Asia, the Chinese economy continued to grow gradually, supported by a recovery in exports and the effects of economic policies. Thailand and India also saw economic recovery.」
The Company describes recovery, expansion, and growth in the economies of Japan, the U.S., China, Thailand, and India, with no material change in its assessment of economic conditions from the previous quarter. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, the Japanese economy recovered gradually, supported by improved corporate earnings, higher share prices, and improvements in employment conditions. In the global economy, the U.S. expansion continued, with personal consumption and capital investment trending upward. In Asia, the Chinese economy continued to grow gradually, supported by a recovery in exports and the effects of economic policies. Thailand and India also saw economic recovery.」
As in the previous quarter, the Company describes recovery, expansion, and growth in the economies of Japan, the U.S., China, Thailand, and India, with no material change in its assessment of economic slowdown risks. - FY2018-Q1MitigatedAnnual report
「During the cumulative first quarter under review, the Japanese economy continued on a gradual recovery path, with personal consumption showing signs of recovery due to improvements in employment and income conditions. In the global economy, the U.S. expansion continued, with personal consumption increasing and capital investment trending upward. In Asia, the Chinese economy continued to grow gradually, supported by a recovery in exports and the effects of economic policies. Thailand and India also saw economic recovery.」
In contrast to the weakness and concerns about slowing capital investment, consumption, and exports described through the previous quarter, the current period describes recovery in Japan and overseas, economic expansion, gradual growth, and recovery. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy continued on a gradual recovery path, supported by signs of recovery in personal consumption and exports and improvements in employment and income conditions, although capital investment showed signs of stagnation. The yen strengthened substantially against the U.S. dollar compared with the same period of the previous year, reflecting reduced expectations of U.S. interest-rate hikes and increased uncertainty over the outlook associated with the UK's EU withdrawal issue, but depreciated sharply from November to December. In the global economy, the U.S. recovery continued on increased personal consumption and signs of a rebound in capital investment, and interest rates were raised in December for the first time in a year. In Asia, Chinese exports remained weak, but consumption was solid, partly due to the effect of tax cuts on small vehicles. Thailand and India also saw gradual economic recovery.」
While citing weakness in Japanese capital investment and Chinese exports, the Company describes domestic and overseas economies as being on a gradual recovery path and continues to indicate uncertainty about the economic outlook. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, the Japanese economy lacked strength in personal consumption, capital investment, and exports, but continued on a gradual recovery path due to improvements in employment and income conditions and the effects of supplementary budgets and other policies. In the global economy, the U.S. economy continued to recover on solid personal consumption, despite weakness in capital investment. In Asia, concerns remained about a slowdown in China, although signs of recovery were seen, including the effects of tax cuts on small vehicles. Thailand and India also saw gradual economic recovery.」
The Company cites weakness in Japanese personal consumption, capital investment, and exports, concerns about a slowdown in China, and weakness in U.S. capital investment, while describing the overall economy as being on a gradual recovery path. - FY2017-Q1First statedAnnual report
「During the cumulative first quarter under review, the Japanese economy continued on a gradual recovery path, although consumer sentiment showed signs of stagnation and some weakness. The yen strengthened substantially against the U.S. dollar compared with the same period of the previous year, reflecting risk aversion driven by concern over the global economic outlook and reduced expectations of U.S. interest-rate hikes. In the global economy, the U.S. and Europe continued to recover gradually, although some weakness was seen in parts of the corporate sector, including exports. In Asia, the Chinese economy showed signs of slowing, while Thailand and India began to show signs of recovery.」
The Company describes a business environment marked by weakness or signs of slowing in different regions, including Japanese consumer sentiment, the corporate sectors in the U.S. and Europe, and the Chinese economy.