Global Economic Uncertainty Driven by Brexit, Monetary Policy, and the Economic Slowdown in China and Southeast Asia
First written in FY2017-Q1. 12 of 27 entries say "Worsened", first in FY2019-Q3. Latest entry: FY2026.
Fine Sinter moved to the "Worse" side of this theme in 2019, 1 year after the typical company in this theme (2018).
The whole theme swung hardest in 2022: 19 of 22 companies on the "Worse" side.
9 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In addition, the prolonged situation in Ukraine and rising geopolitical tensions in the Middle East could affect the supply chain and demand for finished products through the procurement of raw materials and other items and trends in crude oil prices, and are a concern as downside risks to the global economy.」
In addition to the previously cited persistently high raw material and energy prices and uncertainty arising from U.S. trade policies, the disclosure specifies that geopolitical tensions in Ukraine and the Middle East could affect procurement, crude oil prices, the supply chain, and end demand. - 2026-05-14MaterialisedRevisions to the earnings forecast
「Although sales to Chinese customers exporting to North America declined because of the indirect impact of the Trump tariffs, the decline was offset by higher sales to North American customers and the acquisition of new projects.」
Uncertainty surrounding U.S. trade policy appeared in the results as a decline in sales related to North American exports by Chinese customers. - FY2026-H1WorsenedAnnual report
「Uncertainty about the outlook has persisted due to persistently high raw material and energy prices, rising prices, and U.S. trade policies. In addition, the automotive industry is undergoing rapid change, further increasing uncertainty.」
In addition to raw material and energy prices, rising prices, and U.S. trade policies, the disclosure identifies rapid changes in the automotive industry as a factor contributing to uncertainty and states that uncertainty about the outlook has increased further. - FY2025WorsenedAnnual report
「Meanwhile, uncertainty has increased due to the continuing concerns over geopolitical tensions and an economic recession, as well as changes in economic policy worldwide, including the trade policies of the U.S. administration.」
In addition to the previously cited slowdown in the Chinese economy, geopolitical risks, and inflation, the disclosure identifies the trade policies of the U.S. administration and changes in economic policy by countries as factors contributing to uncertainty. - FY2024RestatedAnnual report
「In the international environment during the fiscal year, although social and economic activity in Japan has been moving toward normalization following the reclassification of COVID-19 as a Class 5 infectious disease, uncertainty about the outlook has continued due to persistently high raw material and energy prices, a slowdown in the Chinese economy, geopolitical risks including the situations in Ukraine and the Middle East, and policies adopted by countries to bring inflation under control.」
While describing the normalization of social and economic activity, the disclosure continues to list raw material and energy prices, the Chinese economy, geopolitical risks, and government policies as factors contributing to uncertainty. - FY2024-Q3ReframedAnnual report
「In the international environment during the nine-month period ended [current third quarter], although social and economic activity in Japan has been moving toward normalization following the reclassification of COVID-19 as a Class 5 infectious disease, uncertainty about the outlook has continued due to persistently high raw material and energy prices, geopolitical risks including the slowdown in the Chinese economy and the situations in Ukraine and the Middle East, and policies adopted by countries to bring inflation under control.」
While describing normalization following the reclassification of COVID-19 as a Class 5 infectious disease, the disclosure organizes persistently high raw material and energy prices, a slowdown in the Chinese economy, geopolitical risks including the situations in Ukraine and the Middle East, and government policies as factors contributing to uncertainty. - FY2024-Q2ReframedAnnual report
「In the international environment during the six-month period ended [current second quarter], although social and economic activity has shown signs of recovery following the reclassification of COVID-19 as a Class 5 infectious disease, uncertainty about the outlook has continued due to soaring raw material and energy prices, stagnation in the Chinese economy, the prolonged situation in Ukraine, and policies adopted by countries to bring inflation under control.」
While also describing the recovery in social and economic activity following the reclassification of COVID-19 as a Class 5 infectious disease, the disclosure cites soaring raw material and energy prices, stagnation in the Chinese economy, the prolonged situation in Ukraine, and government policies as factors contributing to uncertainty. - FY2024-Q1WorsenedAnnual report
「In the international environment during the three-month period ended [current first quarter], although restrictions on activities related to COVID-19 have been eased, the effects of lingering uncertainty about the outlook remain, including soaring raw material and energy prices, the prolonged situation in Ukraine, and downside risks to the economy resulting from monetary tightening policies driven by interest-rate hikes in Europe and the United States.」
While mentioning the easing of activity restrictions, the disclosure newly specifies monetary tightening policies driven by interest-rate hikes in Europe and the United States and downside risks to the economy, adding factors contributing to uncertainty about the outlook. - FY2023RestatedAnnual report
「In the international environment during the fiscal year, although restrictions on activities related to COVID-19 have been eased, uncertainty about the outlook has persisted due to soaring raw material and energy prices, accelerating inflation mainly in Europe and the United States, geopolitical risks including the situations in Ukraine and between the United States and China, a slowdown in the Chinese economy, and the risk of recession in Europe and the United States.」
The disclosure continues to describe the coexistence of recovery factors from the easing of activity restrictions and risks including soaring raw material and energy prices, inflation, geopolitical risks, a slowdown in the Chinese economy, and the risk of recession in Europe and the United States. - FY2023-Q3WorsenedAnnual report
「In the international environment during the nine-month period ended [current third quarter], although restrictions on activities related to COVID-19 in Japan have been eased, uncertainty about the outlook has persisted due to soaring raw material and energy prices, accelerating inflation mainly in Europe and the United States, geopolitical risks including the situations in Ukraine and between the United States and China, a slowdown in the Chinese economy, the risk of recession in Europe and the United States, and sharp exchange-rate fluctuations.」
The disclosure expands the list of factors contributing to uncertainty in the external environment, adding inflation in Europe and the United States, the slowdown in the Chinese economy, the risk of recession in Europe and the United States, and the situation between the United States and China to the previously cited situation in Ukraine, soaring raw material and energy prices, and the sharp depreciation of the yen. - FY2023-Q2WorsenedAnnual report
「During the six months ended the current second quarter, Japan's economy remained on a moderate recovery trend as restrictions on activity related to COVID-19 were eased. However, the outlook remained uncertain due to the protracted situation in Ukraine, soaring raw material and energy prices, a sharp depreciation of the yen, and growing concerns about inflation.」
While describing the recovery trend resulting from the easing of restrictions on activity, the company additionally identified the protracted situation in Ukraine, soaring raw material and energy prices, the sharp depreciation of the yen, and inflation concerns as sources of uncertainty about the outlook. - FY2023-Q1WorsenedAnnual report
「Infections also began to spread again overseas, while uncertainty about the outlook continued due to the lockdown in Shanghai, the protracted situation in Ukraine, and soaring raw material and energy prices, among other factors.」
In addition to the existing semiconductor shortage and economic slowdown, the Shanghai lockdown, the protracted situation in Ukraine, and soaring raw material and energy prices were identified as sources of uncertainty about the outlook, broadening uncertainty in the external environment. - FY2022WorsenedAnnual report
「The automotive industry, a major market for the Group's products, was affected by production stoppages caused by a global semiconductor shortage and difficulty securing parts supplies from Southeast Asia.」
Uncertainty in the global economy and automotive market materialized in the business environment as production stoppages caused by the semiconductor shortage and difficulty securing parts supplies from Southeast Asia. - FY2021MaterialisedAnnual report
「During the fiscal year, the global economy remained in a severe condition as economic and social activity stagnated due to the spread of COVID-19.」
The company stated that the previously identified uncertainty and risk of an economic slowdown in the global economy had materialized in the business environment as stagnation in economic and social activity caused by COVID-19. - FY2020WorsenedAnnual report
「During the fiscal year, the global economy remained unstable due to factors including US-China trade friction and weak exports in Asia, while private consumption in Japan stagnated under the impact of the consumption tax increase and other factors. Toward the end of the fiscal year, the global spread of COVID-19 made the outlook uncertain.」
In addition to the previously identified economic slowdown in China and Asia, US-China trade friction, weak Asian exports, the consumption tax increase, and the spread of COVID-19 combined to heighten instability and uncertainty in the global economy. - FY2020-Q3WorsenedAnnual report
「In automotive components, although new products launched in the previous fiscal year contributed to higher revenue, profit was squeezed by lower sales due to the market slowdown at the Chinese and Thai subsidiaries, losses from overtime and holiday work caused by difficulties securing personnel and high equipment utilization at the U.S. subsidiary, and additional costs incurred by the domestic subsidiaries to ensure quality.」
In addition to the Chinese subsidiary, the Thai subsidiary also reported lower sales due to a market slowdown, broadening the regions affected by the overseas economic slowdown. The market slowdowns in China and Thailand continued to weigh on profit in the automotive components business. - FY2020-Q2MaterialisedAnnual report
「In automotive components, higher revenue from new products launched in the previous fiscal year was offset by lower sales at the Chinese subsidiary due to a market slowdown, losses from overtime and holiday work at the US subsidiary due to difficulty securing personnel and high equipment utilization, and additional costs at the domestic subsidiary to ensure quality, all of which weighed on profit.」
Lower sales at the Chinese subsidiary due to a market slowdown continued, and the risk of an economic slowdown overseas, including in China, was having an actual impact on earnings in the automotive components business. - FY2020-Q1MaterialisedAnnual report
「In automotive components, higher revenue from new products launched in the previous fiscal year was offset by lower sales at the Chinese subsidiary due to a market slowdown, production inefficiencies at the US subsidiary caused by difficulty securing personnel, and additional costs at the domestic subsidiary to ensure quality, all of which weighed on profit.」
The Chinese subsidiary experienced lower sales due to a market slowdown, and the previously identified risk of an economic slowdown overseas, including in China, had an actual impact on the performance of the automotive components business. - FY2019WorsenedAnnual report
「China's economic slowdown became more pronounced due to trade friction with the United States, while uncertainty also increased across Asia because of lower exports and other factors in the second half of the fiscal year.」
The company stated that China's economic slowdown due to trade friction with the United States had become more pronounced and that uncertainty across Asia had increased because of lower exports in the second half of the fiscal year. - FY2019-Q3WorsenedAnnual report
「Overall, the global economy remained solid during the nine months ended the current third quarter, although the pace of growth gradually slowed from the same period of the previous year. The US economy continued to expand on improvements in employment and personal consumption. China's economic slowdown became more pronounced due to trade friction with the United States, while Asia as a whole remained on an expansionary trend supported by strong exports and other factors. Japan's economy also continued to recover moderately.」
The company stated that growth in the global economy as a whole was slowing and that China's economic slowdown had become more pronounced against the backdrop of trade friction with the United States, strengthening the emphasis on risk factors from the previous focus on expansion. - FY2019-Q1RestatedAnnual report
「During the nine months ended the current first quarter, the US economy continued to expand due to improvements in employment and personal consumption, while the Asian economy, including China, was generally on an expansionary trend supported by strong exports. Japan's economy also continued to recover moderately.」
The company continued to describe the US, Asian, and Japanese economies as expanding or recovering, with no mention emphasizing uncertainty or downside risks in the global economy. - FY2018-Q3RestatedAnnual report
「During the nine months ended the current third quarter, the US economy continued to expand on stable employment and growing personal consumption. The Asian economy, including China, was generally on an expansionary trend, supported by firm domestic demand and strong exports. Japan's economy also continued to recover moderately.」
The company continued to describe the US, Asian, and Japanese economies as expanding or recovering, with no significant change from the previous quarter in the emphasis on global economic risks. - FY2018-Q2RestatedAnnual report
「During the six months ended the current second quarter, personal consumption continued to grow in the United States, while the Asian economy, including China, was generally on an expansionary trend, supported by firm domestic demand and strong exports. Japan's economy also continued to recover moderately.」
The company continued to describe the US, Asian, and Japanese economies as recovering or expanding, with no significant change in the reduced emphasis on global economic risks from the previous quarter. - FY2018-Q1SoftenedAnnual report
「During the nine months ended the current first quarter, personal consumption continued to increase in the United States, while Europe was generally on a recovery trend. The Asian economy, including China, remained firm, while Japan continued to experience a moderate economic recovery that was not widely felt.」
Rather than the sources of uncertainty explicitly identified in the previous quarter, such as the new US administration and Brexit, the company focused on the recovery in the US and Europe and the resilience of Asia, including China. The emphasis on risks had weakened. - FY2017-Q3ReframedAnnual report
「During the nine months ended the current third quarter, the US and European economies continued to expand moderately, but the outlook remained uncertain due to factors including the formation of a new US administration and Brexit.」
While acknowledging the moderate expansion in the US and Europe, the company shifted its description of uncertainty in the global economy from the previous focus on the economic slowdown in China and Southeast Asia and higher crude oil prices to the formation of a new US administration and Brexit. - FY2017-Q2RestatedAnnual report
「During the six months ended the current second quarter, the global economy remained uncertain due to factors including Brexit and developments in US monetary policy. Downside risks stemming from an economic slowdown in emerging-market economies such as China and Southeast Asia, as well as higher crude oil prices following the OPEC agreement to cut oil production, were also a concern.」
In addition to Brexit, US monetary policy, and the economic slowdown in China and Southeast Asia, higher crude oil prices following the OPEC agreement to cut oil production continued to be identified as a downside risk for the global economy. - FY2017-Q1First statedAnnual report
「During the nine months ended the current first quarter, uncertainty in the global economy increased due to factors including Brexit and developments in US monetary policy. Downside risks stemming from an economic slowdown in China and Southeast Asia were also a concern.」
Brexit, US monetary policy, and the economic slowdown in China and Southeast Asia were identified for the first time as sources of uncertainty and downside risks for the global economy and the business environment.