Impact of Higher Resource Prices and a Weaker Yen on Corporate Earnings and Capital Investment
First written in FY2022. 7 of 11 entries say "Worsened", first in FY2023-Q1. Latest entry: FY2026.
Eri Holdings moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2024: 6 of 14 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「During the consolidated fiscal year, the Japanese economy was affected by concerns over the supply of oil-related products due to the situation in the Middle East, soaring energy and raw material prices, and the continued impact of rising prices. However, corporate earnings showed signs of improvement, and the economy remained on a path of gradual recovery.」
In addition to the previously cited higher resource prices and rising prices, the Company explicitly stated concerns over the supply of oil-related products due to the situation in the Middle East. The impact of soaring energy and raw material prices and continued price increases also remains. - 2026-03-30WorsenedEarnings
「During the nine months ended February 2026, the Japanese economy remained on a moderate recovery trend, although the outlook remained uncertain due to the impact of US trade policy, continued inflation caused by higher energy and raw-material prices, and the resulting deterioration in consumer sentiment affecting personal consumption, while corporate earnings showed signs of stagnation in their improvement.」
The company described an uncertain economic outlook due to US trade policy, soaring energy and raw-material prices, and weaker consumer sentiment. - FY2025WorsenedAnnual report
「With regard to capital investment in non-residential buildings, although attention must be paid to concerns that rising uncertainty over U.S. tariff policy could restrain corporate capital investment, capital investment associated with addressing labor shortages, digitalization, decarbonization measures and supply chain strengthening is expected to provide underlying support for demand.」
The Company newly identified uncertainty over U.S. tariff policy as an external risk that could restrain capital investment. At the same time, capital investment demand associated with addressing labor shortages, digitalization and decarbonization measures was cited as a supporting factor. - FY2024MitigatedAnnual report
「During the consolidated fiscal year, the Japanese economy faced concerns about a slowdown in overseas economies due to rising prices and global monetary tightening, and personal consumption showed signs of losing momentum. However, production activity, employment and corporate earnings also showed signs of improvement, and the economy remained on a path of gradual recovery.」
Although concerns about a slowdown in overseas economies due to rising prices and global monetary tightening remain, the Company's assessment shifted from the previous reference to a decline in production activity to an improvement in production, employment and corporate earnings and a path of gradual recovery. - FY2024-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy faced concerns about a slowdown in overseas economies due to rising prices and global monetary tightening, and production activity declined. However, signs of recovery continued in employment and personal consumption, and corporate earnings also showed signs of improvement.」
Amid continued concerns about a slowdown in overseas economies due to rising prices and global monetary tightening, weakness in production was described as a decline in production activity. Improvements in employment, personal consumption and corporate earnings were also noted. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy faced concerns about a slowdown in overseas economies due to rising prices and global monetary tightening. However, signs of recovery continued in employment, personal consumption, capital investment and production, and corporate earnings also showed signs of improvement.」
While indicating concerns about a slowdown in overseas economies due to rising prices and global monetary tightening, the Company continues to recognize that employment, consumption, capital investment, production and corporate earnings are recovering. - FY2024-Q1MitigatedAnnual report
「Although downside risks remained from supply constraints, rising prices and global monetary tightening, employment conditions, personal consumption, capital investment and production continued to show signs of recovery as social and economic activity normalized following the easing of restrictions related to COVID-19. Corporate earnings also showed signs of improvement.」
The downside risks to economic activity from supply constraints, rising prices and global monetary tightening continue, but instead of the weakness in production cited previously, the Company described signs of recovery in employment, consumption, capital investment and production, indicating some improvement in the economic environment. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy faced downside risks to economic activity against a backdrop of supply constraints, rising prices, volatility in financial and capital markets, and global monetary tightening, and showed weakness in production. However, as the severe conditions caused by the COVID-19 pandemic eased, signs of recovery continued in employment, personal consumption and capital investment, and corporate earnings also showed signs of improvement.」
In addition to supply constraints, rising prices, volatility in financial and capital markets, and global monetary tightening, weakness in production was explicitly stated, adding a specific manifestation of the downside risk to economic activity. The Company also described the easing of the severe conditions caused by the COVID-19 pandemic and the improvement in corporate earnings. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy faced downside risks to economic activity against a backdrop of supply constraints, rising prices, volatility in financial and capital markets, and global monetary tightening. However, as the severe conditions caused by the COVID-19 pandemic eased, signs of recovery continued in employment, personal consumption, capital investment and production, and corporate earnings also showed signs of improvement.」
Volatility in financial and capital markets was explicitly added to the previously cited supply constraints, rising prices and global monetary tightening as a downside risk to economic activity. At the same time, the Company stated that the severe economic conditions caused by the COVID-19 pandemic had eased. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the Japanese economy faced downside risks to economic activity against a backdrop of supply constraints, rising prices and global monetary tightening. However, as the severe conditions caused by the COVID-19 pandemic eased, signs of recovery continued in employment, personal consumption, capital investment and production, and corporate earnings also showed signs of improvement.」
In addition to the previously cited higher resource prices and yen depreciation, downside risks to economic activity stemming from supply constraints, rising prices and global monetary tightening were explicitly stated. At the same time, the Company stated that the severity of the economic environment caused by the COVID-19 pandemic had eased. - FY2022First statedAnnual report
「Meanwhile, resource prices are rising sharply and the yen is depreciating at the same time, and we believe that close attention must be paid to future developments concerning their impact on corporate performance and companies' willingness to invest in capital.」
The simultaneous progression of sharply higher resource prices and yen depreciation was explicitly identified for the first time as an external risk affecting corporate performance and willingness to invest in capital.