Uncertainty in the Global Economy Due to the Slowdown in Emerging Markets, the UK's Withdrawal from the EU and Other Factors
First written in FY2016-Q4. 19 of 34 entries say "Worsened", first in FY2017-Q2. Latest entry: FY2026.
Human Metabolome Technologies moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
68 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Japan's economy during the consolidated fiscal year was on a moderate recovery trend due to improvements in corporate earnings and employment and income conditions. However, the outlook is expected to remain uncertain because of the risk of a downturn in the domestic and overseas economies resulting from higher prices, the impact of US trade policy, changes in monetary policy in Japan and the United States, and geopolitical risks, mainly in the Middle East.」
While noting the recovery trend, US trade policy, changes in monetary policy in Japan and the United States, higher prices, and geopolitical risks in the Middle East are identified as downside factors. - FY2026-H1WorsenedAnnual report
「Japan's economy during the interim consolidated fiscal period was on a moderate recovery trend due to improvements in corporate earnings and employment and income conditions. However, the outlook is expected to remain uncertain because of the risk of a downturn in the domestic and overseas economies resulting from higher prices, the impact of US trade policy, changes in monetary policy in Japan and the United States, and geopolitical risks.」
While noting the recovery trend, higher prices, geopolitical risks, US trade policy, and changes in monetary policy in Japan and the United States are explicitly identified as new downside factors. - FY2025-H1WorsenedAnnual report
「However, the outlook is expected to remain uncertain due to risks of a downturn in the domestic and overseas economies, including the prolonged situation in Ukraine, geopolitical risks in the Middle East, and inflationary pressures resulting from persistently high resource prices and continued labor shortages.」
In addition to the existing situations in Ukraine and the Middle East, inflationary pressures resulting from persistently high resource prices and continued labor shortages are explicitly identified as downside risks. - FY2024RestatedAnnual report
「However, concerns continue about the impact of yen depreciation on Japan, a slowdown in the Chinese economy, the prolonged situation in Ukraine, and persistently elevated raw-material and energy prices due to the situation in the Middle East.」
Yen depreciation, a slowdown in the Chinese economy, the situations in Ukraine and the Middle East, and persistently elevated raw-material and energy prices continue to be cited as external concerns. - FY2024-Q3WorsenedAnnual report
「During the cumulative third-quarter period, Japan's economy entered a moderate recovery trend, with private consumption remaining firm and inbound demand increasing as the legal classification of COVID-19 was changed to Category 5 in May 2023. However, concerns continued about the impact of yen depreciation on Japan, a slowdown in the Chinese economy, the prolonged situation in Ukraine, and persistently elevated raw-material and energy prices due to the situation in the Middle East.」
While noting the recovery trend and firm private consumption, the Company explicitly identifies a slowdown in the Chinese economy, in addition to the existing concerns about yen depreciation and the situations in Ukraine and the Middle East. - FY2024-Q2WorsenedAnnual report
「However, concerns continue about the impact of further yen depreciation on Japan, the continuation of global monetary tightening, the prolonged situation in Ukraine, and persistently elevated raw-material and energy prices due to the situation in the Middle East.」
In addition to the existing concerns about yen depreciation, monetary tightening, the situation in Ukraine, and persistently elevated raw-material and energy prices, the situation in the Middle East is explicitly identified as a new external concern. - FY2024-Q1RestatedAnnual report
「However, concerns continue about the impact of further yen depreciation on Japan, the continuation of global monetary tightening, and persistently elevated raw-material and energy prices due to the prolonged situation in Ukraine.」
Yen depreciation, global monetary tightening, the prolonged situation in Ukraine, and persistently elevated raw-material and energy prices continue to be cited as concerns in the external economic environment. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, conditions surrounding COVID-19 gradually improved and economic activity was expected to become more vibrant. However, Japan's economic outlook remained uncertain due to yen depreciation resulting from the Japan-US interest-rate differential, high domestic inflation accompanying persistently elevated resource prices, and concerns about a slowdown in the global economy.」
While noting improvements in the infection situation and expectations for more active economic activity, the Company continues to cite uncertainty resulting from yen depreciation, inflation, and concerns about a slowdown in the global economy. - FY2023-Q2WorsenedAnnual report
「During the cumulative second-quarter period, Japan's economy remained uncertain due to yen depreciation resulting from the Japan-US interest-rate differential, high domestic inflation accompanying persistently elevated resource prices, the renewed spread of COVID-19, and concerns about a slowdown in the global economy.」
In addition to yen depreciation, persistently elevated resource prices, inflation, and the renewed spread of COVID-19, concerns about a slowdown in the global economy are explicitly identified, and uncertainty in the external economic environment continues to expand. - FY2023-Q1WorsenedAnnual report
「During the cumulative first-quarter period, Japan's economy remained uncertain due to the renewed spread of COVID-19 and concerns about foreign-exchange trends, including the rapid depreciation of the yen. In addition, concerns about a slowdown in the global economy were increasing due to global inflation accompanying soaring raw-material and energy prices and monetary tightening led by the United States and Europe to contain inflation.」
In addition to the existing concerns about the pandemic and inflation, rapid yen depreciation, monetary tightening in the United States and Europe, and concerns about a slowdown in the global economy are explicitly identified, broadening the sources of uncertainty in the external economic environment. - FY2022WorsenedAnnual report
「In addition to the geopolitical risks resulting from Russia's invasion of Ukraine from late February 2022 and lockdowns in Shanghai and elsewhere in China from March 2022, concerns about a decline in domestic consumption resulting from soaring energy and raw-material prices, monetary tightening in the United States and elsewhere to contain them, and the resulting depreciation of the yen against the US dollar have increased uncertainty surrounding the expected economic expansion.」
In addition to the existing impact of the pandemic, the invasion of Ukraine, lockdowns in China, soaring energy and raw-material prices, monetary tightening, and the yen's depreciation against the US dollar were added as external concerns. - FY2022-Q3WorsenedAnnual report
「During the cumulative third-quarter period, the global and Japanese economies continued to be affected by the prolonged impact of COVID-19. In Japan, the fourth state of emergency was declared in urban areas from July to September of the previous year due to the fifth wave, and quasi-emergency measures were imposed from January to March due to the sixth wave, significantly affecting overall economic activity. In addition, geopolitical risks resulting from Russia's invasion of Ukraine in late February and soaring energy and raw-material prices continued to impede economic expansion, increasing uncertainty.」
In addition to the prolonged pandemic, geopolitical risks resulting from Russia's invasion of Ukraine and soaring energy and raw-material prices are explicitly identified as new factors weighing on the economy, and uncertainty has increased. - FY2022-Q2WorsenedAnnual report
「Although domestic COVID-19 infections had declined since October, a sharp increase in demand for resources and energy accompanying the economic recovery and inflation, apparently caused by supply-demand imbalances resulting from supply-chain disruptions, continued to hinder a full recovery in economic activity. In addition, a COVID-19 variant began spreading rapidly from the beginning of the year.」
While noting the decline in infections, the Company identifies the sharp increase in demand for resources and energy, supply-chain disruptions, inflation, and variants as new concerns for the economic environment. - FY2022-Q1WorsenedAnnual report
「During the cumulative first-quarter period, the global and Japanese economies were significantly affected by the prolonged impact of COVID-19. A fourth state of emergency was declared mainly in urban areas, and the fifth wave surged, with the number of domestic cases temporarily exceeding 25,000.」
In addition to the prolonged pandemic, the fourth state of emergency, the fifth wave, and more than 25,000 domestic cases are explicitly identified, detailing the impact on economic activity. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, Japan's economic environment remained difficult as the impact of COVID-19 persisted and states of emergency were declared 3 times, mainly in urban areas.」
The difficult economic environment resulting from the prolonged pandemic and 3 states of emergency in Japan is described. Vaccine rollouts and recovery in some industries are also mentioned. - FY2021-Q3WorsenedAnnual report
「During the cumulative third-quarter period, the global and Japanese economies remained in difficult conditions due to the prolonged impact of COVID-19, including the issuance of a second state of emergency in major Japanese cities. Meanwhile, private consumption and trade showed signs of a partial recovery due to progress in vaccine development and support through fiscal measures, and some industries began to show a marked recovery trend.」
In addition to the prolonged pandemic, difficult economic conditions continued against the backdrop of the second state of emergency, while signs of recovery in some areas were also noted. - FY2021-Q2RestatedAnnual report
「During the cumulative second-quarter period, the global and Japanese economies continued to be affected by the prolonged impact of COVID-19. Although private consumption and trade showed signs of a partial recovery due to progress in vaccine development and support through fiscal measures, employment conditions remained weak, and overall conditions remained severe.」
The prolonged impact of COVID-19 is cited, and the economic environment is described as remaining difficult. - FY2021-Q1RestatedAnnual report
「During the cumulative first-quarter period, the global and Japanese economies continued to be affected by the prolonged impact of COVID-19. Although there were signs of a partial recovery in private consumption and trade, employment conditions remained weak, and overall conditions remained severe.」
The prolonged impact of COVID-19 is cited, with the global economy as a whole described as remaining in difficult conditions. - FY2020WorsenedAnnual report
「From the second half onward, the global economy experienced a significant downturn due to the impact of COVID-19.」
In addition to the uncertainty caused by existing trade issues and other factors, a significant global economic downturn resulting from COVID-19 is explicitly identified. - FY2020-Q3WorsenedAnnual report
「During the cumulative third-quarter period, the US economy remained firm, but conditions requiring caution persisted due to the slowdown in the Chinese economy resulting from US-China trade friction. Concerns about a further downturn in the global economy resulting from COVID-19 have emerged, further increasing uncertainty about the outlook.」
In addition to the existing concerns about US-China trade friction and the slowdown in the Chinese economy, concerns about a further downturn in the global economy due to COVID-19 are explicitly identified, and uncertainty about the outlook has intensified. - FY2020-Q2RestatedAnnual report
「During the cumulative second-quarter period, the US economy remained firm, while conditions requiring continued caution persisted due to a slowdown in the Chinese economy resulting from US-China trade friction and uncertainty surrounding the outlook for Europe.」
The slowdown in the Chinese economy resulting from US-China trade friction and uncertainty surrounding Europe continue to be cited as external conditions requiring caution. No new risks or significant changes are identified. - FY2020-Q1WorsenedAnnual report
「During the cumulative first-quarter period, the US economy remained firm, while conditions requiring continued caution persisted due to a slowdown in the Chinese economy resulting from US-China trade friction and uncertainty surrounding the outlook for Europe.」
In addition to the existing concerns about US-China trade friction, the slowdown in the Chinese economy resulting from it and uncertainty surrounding Europe are explicitly identified as external conditions requiring caution. - FY2019RestatedAnnual report
「During the consolidated fiscal year, the global economy remained generally firm, mainly in the United States and Europe, despite concerns about developments in trade issues between the United States and China and elsewhere.」
Trade issues continue to be cited as a source of uncertainty, while the US and European economies are described as generally firm. - FY2019-Q3RestatedAnnual report
「During the cumulative fourth-quarter period, the global economy remained generally firm, mainly in the United States and Europe, despite concerns about developments in trade issues between the United States and China and elsewhere.」
Concerns about trade issues between the United States and China and elsewhere are cited, while the US and European economies are described as generally firm. - FY2019-Q2RestatedAnnual report
「During the cumulative third-quarter period, the global economy remained generally firm, mainly in the United States and Europe, despite concerns about developments in trade issues between the United States and China and elsewhere.」
Concerns about trade issues between the United States and China and elsewhere are cited, while the US and European economies are described as generally firm. - FY2019-Q1RestatedAnnual report
「During the cumulative second-quarter period, the global economy remained generally firm, mainly in the United States and Europe, despite concerns about developments in trade issues between the United States and China and elsewhere.」
Concerns about trade issues between the United States and China and elsewhere are cited, while the US and European economies are described as generally firm. - FY2018-Q4WorsenedAnnual report
「During the cumulative first-quarter period, the global economy remained generally firm, mainly in the United States and Europe, despite concerns about trade friction between the United States and China.」
In addition to existing geopolitical and political factors, concerns about trade friction between the United States and China are explicitly identified as a source of uncertainty for the global economy. - FY2018-Q2RestatedAnnual report
「During the cumulative third-quarter period, the global economy remained firm, mainly in the United States and Europe, despite concerns about geopolitical risks related to the situation on the Korean Peninsula.」
Geopolitical risks related to the situation on the Korean Peninsula are cited as a source of concern, while the US and European economies are described as remaining firm. - FY2018-Q1RestatedAnnual report
「During the cumulative second-quarter period, the global economy remained firm, led by the US economy, despite concerns about geopolitical risks related to political developments in the United States and the situation on the Korean Peninsula.」
Geopolitical risks related to political developments in the United States and the situation on the Korean Peninsula continue to be cited as sources of concern. - FY2017-Q4RestatedAnnual report
「During the cumulative first-quarter period, the global economy remained firm, led by the US economy, but the outlook remained uncertain due to concerns about political developments in the United States and Europe and economic stagnation in emerging markets.」
Concerns about political developments in the United States and Europe and economic stagnation in emerging markets continue to be cited as sources of uncertainty for the outlook of the global economy. - FY2017WorsenedAnnual report
「The outlook remains uncertain, with signs of protectionist trends, including concerns about slower economic growth in emerging markets such as China and the United States' withdrawal from the TPP.」
In addition to the slowdown in emerging markets and protectionism, the United States' withdrawal from the TPP is explicitly identified, and sources of uncertainty for the global economy remain. - FY2017-Q2WorsenedAnnual report
「During the cumulative third-quarter period, the global economy continued to recover moderately, mainly in developed economies such as the United States and Europe, but the outlook remained uncertain amid concerns about a slowdown in emerging market economies, including China, and growing protectionist trends, including the UK's withdrawal from the EU and the policies of the incoming US president.」
In addition to the existing concerns about a slowdown in emerging market economies and the UK's withdrawal from the EU, the policies of the incoming US president and protectionist trends are explicitly identified, indicating a broader range of sources of uncertainty for the global economy. - FY2017-Q1RestatedAnnual report
「During the cumulative second-quarter period, the global economy continued to recover moderately, mainly in developed economies such as the United States and Europe, but the outlook remained uncertain due to concerns about a slowdown in emerging market economies, including China.」
Concerns about a slowdown in emerging market economies and uncertainty about the outlook for the global economy continue to be cited. The UK's withdrawal from the EU, which was described separately previously, is not repeated in this description. - FY2016-Q4First statedAnnual report
「Concerns about the slowing economies of emerging markets, including China, and the impact of the referendum result on the UK's withdrawal from the EU on the global economy persisted, and conditions remained uncertain.」
The slowdown in emerging market economies and the UK's withdrawal from the EU are identified as risk factors for the global economy.