China's economic slowdown, emerging-market instability and currency fluctuations, etc.
First written in FY2016. 21 of 36 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-07-31.
Shibaura Machine moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
56 other companies' latest entry also says "Restated".
- 2026-07-31RestatedEarnings
「The global economy remained uncertain, amid continuing concerns over the situation in Ukraine and rising geopolitical risks resulting from escalating tensions in Iran.」
Geopolitical risks arising from the situations in Ukraine and Iran continue to be cited as concerns in the external environment identified through the previous fiscal year. - FY2026WorsenedAnnual report
「The global economy during the consolidated fiscal year remained uncertain, amid continuing concerns over US trade policy and the situation in Ukraine, as well as rising geopolitical risks resulting from escalating tensions in Iran.」
The disclosure identifies rising geopolitical risks caused by increasing tensions surrounding Iran, in addition to US trade policies and the situation in Ukraine, as a new factor contributing to uncertainty. - FY2026-H1WorsenedAnnual report
「During the interim consolidated fiscal period, the global economy remained uncertain due to concerns that US tariff policies under the Trump administration would put downward pressure on the overall economy, the prolonged stagnation of China's economy despite some effects from stimulus measures and slowing domestic demand, and continuing concerns over the situations in Ukraine and the Middle East. The economic environment surrounding the Group remained difficult, as the automotive market stagnated and, although the United States and major countries reached an agreement on reciprocal tariffs, capital investment remained on hold amid other uncertainties, including the possibility of additional tariffs, while China's prolonged economic stagnation continued to have an impact.」
The disclosure newly identifies US tariff policies and additional tariffs, stagnation in the automotive market, and slowing domestic demand and prolonged economic stagnation in China as areas of concern. - FY2025WorsenedAnnual report
「The global economy remained on a recovery trend during the fiscal year, but uncertainty persisted due to the prolonged stagnation of China's economy, Russia's invasion of Ukraine, rising tensions in the Middle East and the effects of the protectionist policies of the Trump administration in the United States. Downward pressure on the economy intensified toward the latter half of the year.」
The disclosure identifies the prolonged stagnation of China's economy, the situations in Ukraine and the Middle East, and US protectionist policies, stating that downward pressure on the economy intensified in the latter half of the year. - FY2025-H1WorsenedAnnual report
「Although India's economy continued to grow steadily, the economic environment surrounding the Group remained difficult, with the EV market slowing, China's economy remaining sluggish, component and energy prices staying high, and some capital investment stagnating ahead of the US presidential election.」
The disclosure newly identifies China's economic stagnation, persistently high component and energy prices, the slowdown in the EV market and stagnation in capital investment ahead of the US presidential election as areas of concern. It also notes India's steady economic growth. - FY2024-Q3WorsenedAnnual report
「During the nine-month period ended the third quarter, the global economy remained uncertain due to the continued effects of China's economic slowdown, inflation and monetary tightening in countries around the world, including the United States, the prolonged Russian invasion of Ukraine and rising tensions in the Middle East.」
The disclosure newly identifies rising tensions in the Middle East, in addition to China's economic slowdown, global inflation and monetary tightening, and the prolonged invasion of Ukraine, as factors contributing to uncertainty. - FY2024-Q2RestatedAnnual report
「During the six-month period ended the second quarter, the global economy remained uncertain as the slowdown in China and the effects of inflation and monetary tightening in countries around the world, including the United States, continued.」
The disclosure states that uncertainty due to China's economic slowdown and global inflation and monetary tightening continued, with no substantive change from the previous quarter. - FY2024-Q1China's recovery slows; inflation persistsAnnual report
「During the three-month period ended the first quarter, the global economy remained uncertain, as the recovery in China slowed after economic activity resumed following the lifting of its zero-COVID policy, while the effects of inflation and monetary tightening in countries around the world, including the United States, continued.」
The disclosure identifies the slowing recovery following the resumption of economic activity after the lifting of China's zero-COVID policy, as well as continued inflation and monetary tightening in the United States and other countries, as areas of concern. - FY2023-Q3WorsenedAnnual report
「During the nine-month period ended the third quarter, supply chain disruptions, including tight supply and demand for components and surging energy prices, continued due to the effects of COVID-19 and Russia's invasion of Ukraine. In addition, the economic slowdown became more pronounced toward the latter half of the period due to stagnation in China's economic activity and the effects of inflation and monetary tightening in countries around the world, including the United States. Japan's economy showed signs of recovery in production and capital investment, but was affected by supply chain disruptions and sharp exchange-rate fluctuations.」
The disclosure identifies continued supply chain disruptions, stagnation in China's economic activity, the sense of an economic slowdown due to global inflation and monetary tightening, and sharp exchange-rate fluctuations, stating that uncertainty in the external environment has increased. - FY2023-Q2WorsenedAnnual report
「During the six-month period ended the second quarter, the pace of global economic recovery slowed as economic activity stagnated in China and the risk of an economic slowdown increased in the United States due to inflation and monetary tightening. In addition, the effects of COVID-19, lockdowns in China and Russia's invasion of Ukraine caused further supply chain disruptions, including tight supply and demand for components and surging energy prices, and the outlook remained uncertain. Japan's economy showed signs of recovery in production and capital investment, but was affected by supply chain disruptions and the sharp depreciation of the yen.」
The disclosure identifies stagnation in China's economic activity, inflation and monetary tightening in the United States, the risk of an economic slowdown, surging energy prices and the sharp depreciation of the yen, with uncertainty in the external environment continuing. - FY2023-Q1WorsenedAnnual report
「During the three-month period ended the first quarter, the global economy maintained a recovery trend, led by developed countries such as the United States. However, the effects of COVID-19, lockdowns in China and Russia's invasion of Ukraine caused further supply chain disruptions, including tight supply and demand for components and surging energy prices, further increasing uncertainty over the outlook.」
The disclosure newly identifies COVID-19, lockdowns in China and Russia's invasion of Ukraine, and cites further supply chain disruptions involving tight supply and demand for components and surging energy prices, along with a further increase in uncertainty. - FY2022-Q3WorsenedAnnual report
「During the nine-month period ended the third quarter, the global economy remained on a recovery trend, led by developed countries such as the United States, but the pace of recovery slowed in the latter half of the period due to China's stalled recovery, the renewed spread of COVID-19 and supply chain disruptions caused by a sharp increase in demand.」
The disclosure states that China's stalled recovery, the renewed spread of COVID-19 and supply chain disruptions slowed the pace of global economic recovery in the latter half of the third quarter. - FY2022-Q2China's recovery loses momentumAnnual report
「During the six-month period ended the second quarter, the global economy remained on a recovery trend, led by developed countries such as the United States, although China's recovery showed signs of losing momentum. Japan's economy also continued to show signs of recovery in exports and production. However, the outlook remained uncertain due to supply chain disruptions caused by the renewed spread of COVID-19 and a sharp increase in demand.」
The disclosure cites the recovery trend led by developed countries such as the United States and the recovery in domestic exports and production, while noting that China's recovery showed signs of losing momentum and that uncertainty continued due to the renewed spread of COVID-19 and supply chain disruptions. - FY2022-Q1Recovery trend coexists with supply disruptionsAnnual report
「During the three-month period ended the first quarter, the global economy generally remained on a recovery trend, led by China and the United States. Japan's economy also continued to show signs of recovery in exports and production. However, the outlook became uncertain due to supply chain disruptions caused by the renewed spread of COVID-19 and a sharp increase in demand.」
The disclosure cites the recovery trend led by China and the United States, while stating that the outlook remains uncertain due to the renewed spread of COVID-19 and supply chain disruptions. - FY2021-Q3WorsenedAnnual report
「During the nine-month period ended the third quarter, the global economy remained in severe conditions as the effects of the spread of COVID-19 continued, but economic activity gradually resumed and signs of recovery emerged. However, as the spread of COVID-19 began to accelerate again, moves to restrict economic activity spread once more around the world, leaving the outlook uncertain.」
The disclosure cites the resumption of economic activity and signs of recovery, while stating that restrictions on economic activity associated with the renewed spread of COVID-19 have spread again, making the outlook uncertain. - FY2021-Q2Severe conditions coexist with signs of recoveryAnnual report
「During the six-month period ended the second quarter, the global economy remained in severe conditions as the effects of the spread of COVID-19 continued, but economic activity gradually resumed and signs of recovery emerged.」
While severe conditions caused by the spread of COVID-19 continued, the disclosure also cites the resumption of economic activity and signs of recovery. - FY2020WorsenedAnnual report
「During the fiscal year, the global economy remained uncertain, with the economies of China and other countries continuing to slow as the effects of prolonged international trade issues persisted, along with the issue of the UK's withdrawal from the EU. Japan's economy was also affected by the global slowdown, and exports and production deteriorated. In addition, from the latter half of the fourth quarter, economic activity was significantly restricted by the spread of COVID-19, causing the global economy to contract rapidly.」
The disclosure cites the slowdown in the economies of China and other countries, trade issues and geopolitical uncertainty, as well as restrictions on economic activity due to the spread of COVID-19 and the rapid contraction of the global economy. - FY2020-Q3WorsenedAnnual report
「During the nine-month period ended the third quarter, the global economy remained uncertain, with the economies of China and other countries continuing to slow as the effects of prolonged international trade issues persisted, along with the issue of the UK's withdrawal from the EU. Japan's economy was also affected by the global slowdown, and exports and production remained weak.」
The disclosure continues to cite the ongoing slowdown in the economies of China and other countries due to prolonged trade issues, as well as weak exports and production, with uncertainty in the external environment persisting. - FY2020-Q2WorsenedAnnual report
「During the cumulative consolidated second quarter under review, the outlook for the global economy remained uncertain due to the continued slowdown in China and other countries caused by the effects of overseas trade issues, as well as the UK's withdrawal from the EU. Japan's economy also continued to show weakness in exports and production as a result of the global economic slowdown.」
In addition to the economic slowdown in China and elsewhere and trade issues, the company expressly identifies the UK's withdrawal from the EU as a factor of concern, while stating that exports and production remain weak in Japan. - FY2020-Q1WorsenedAnnual report
「During the cumulative consolidated first quarter under review, the outlook for the global economy remained uncertain due to developments in overseas trade policy, the continued slowdown in China's economy, and rising global geopolitical risks. Japan's economy was also affected by the global economic slowdown, with weakness evident in exports and production.」
The company describes the continued slowdown in China's economy, rising global geopolitical risks, and weakness in exports and production, indicating greater uncertainty in the external environment. - FY2019-Q3WorsenedAnnual report
「Overseas economies continued on a moderate recovery trend, but the outlook for the global economy remained uncertain, with developments in overseas trade policy, China's economic slowdown, global geopolitical risks, and the outlook for emerging-market economies among the factors of concern.」
Following the coexistence of market recovery and uncertainty in the previous quarter, the company expressly identifies China's economic slowdown, the outlook for emerging-market economies, trade policy, and geopolitical risks as factors of concern. - FY2019-Q2RestatedAnnual report
「Overseas economies continued on a moderate recovery trend, but the outlook for the global economy remained uncertain, with the outlook for emerging-market economies, geopolitical risks, and developments in overseas trade policy among the factors of concern.」
The company describes overseas economies as being on a recovery trend, while stating that uncertainty caused by the outlook for emerging-market economies, geopolitical risks, and overseas trade policy continues. - FY2019-Q1RestatedAnnual report
「Overseas economies continued on a moderate recovery trend, but the outlook for the global economy remained uncertain, with geopolitical risks and developments in U.S. trade policy among the factors of concern.」
The company describes overseas economies as being on a recovery trend, while stating that uncertainty caused by geopolitical risks and U.S. trade policy continues. - FY2018Continued market recovery alongside uncertaintyAnnual report
「Overall, overseas economies continued on a moderate recovery trend, with the economies of Europe and the United States remaining firm and those of China and Southeast Asia continuing to improve. However, the outlook for the global economy remained uncertain as geopolitical risks and policy shifts in Europe, the United States and elsewhere increased uncertainty.」
The company describes continued improvement in overseas economies, including China and Southeast Asia, while stating that uncertainty caused by geopolitical risks and policy shifts in Europe, the United States and elsewhere remains. - FY2018-Q3RestatedAnnual report
「Overall, overseas economies continued on a moderate recovery trend, with the economies of Europe and the United States remaining firm and those of China and Southeast Asia continuing to improve. However, the outlook for the global economy remained uncertain as geopolitical risks and policy shifts in Europe, the United States and elsewhere increased uncertainty.」
The company describes continued improvement in the economies of China and Southeast Asia, while stating that uncertainty caused by geopolitical risks and policy shifts in Europe, the United States and elsewhere continues. - FY2018-Q2Market recovery alongside continued uncertaintyAnnual report
「Overseas economies continued on a moderate recovery trend, with the economies of Europe and the United States remaining firm and those of China and Southeast Asia showing signs of improvement. However, the outlook for the global economy remained uncertain as geopolitical risks and policy shifts in Europe, the United States and elsewhere increased uncertainty.」
The company describes improving economic conditions in China and Southeast Asia, while stating that uncertainty caused by geopolitical risks and policy shifts in Europe, the United States and elsewhere continues. - FY2018-Q1WorsenedAnnual report
「Overseas economies continued on a moderate recovery trend, but the outlook for the global economy remained uncertain as uncertainty increased due to policy shifts in Europe, the United States and elsewhere.」
The company describes overseas economies as being on a recovery trend, while stating that uncertainty has increased due to policy shifts in Europe, the United States and elsewhere. - FY2017RestatedAnnual report
「Net sales for the consolidated fiscal year under review were ¥111,327 million, down 5.1% from the previous consolidated fiscal year, due to stagnant capital investment in Southeast Asian countries and other priority markets.」
The company states that stagnant capital investment in Southeast Asian countries and other markets continued to be reflected in full-year results as a 5.1% year-on-year decline in net sales. - FY2017-Q3MaterialisedAnnual report
「Overseas economies remained firm, particularly in the United States, Europe and India, but the economic slowdown continued in some emerging Asian countries, including China, leaving the outlook for the global economy uncertain. Net sales for the cumulative consolidated third quarter under review were ¥78,180 million, down 8.1% year on year, due to stagnant capital investment in Southeast Asian countries and other priority markets.」
The company states that the continued economic slowdown in emerging Asian countries such as China and stagnant capital investment in Southeast Asian countries and other markets were reflected in actual results as a decline in cumulative net sales. - FY2017-Q2MaterialisedAnnual report
「Overseas economies remained firm in the United States, India and Europe, while economic stagnation continued in Southeast Asian countries, including China and Thailand. The outlook for the global economy therefore remained uncertain. Net sales for the cumulative consolidated second quarter under review were ¥50,836 million, down 13.2% year on year, due to economic stagnation in China and Southeast Asian countries, which are priority markets for the Company.」
The company states that continued economic stagnation in China and Southeast Asian countries, including in priority markets, was reflected in actual results as a factor behind the decline in net sales. - FY2017-Q1WorsenedAnnual report
「Japan's economy continued on a moderate recovery trend, but signs of stagnation emerged due to the yen's rapid appreciation and other factors. While the economies of developed countries such as the United States remained firm, the outlook for the global economy remained uncertain as China's economic slowdown continued in Asia.」
Following the yen's appreciating trend and China's economic slowdown in the previous fiscal year, the company describes the yen's rapid appreciation and the continued slowdown in China, indicating growing uncertainty in the external environment. - FY2016First statedAnnual report
「The slowdown in China's economy became more pronounced, while the economies of surrounding countries, including those in Southeast Asia, became unstable. In addition, crude oil prices fell sharply, and from the beginning of 2016 the yen was on an appreciating trend as investors avoided risk. The outlook therefore remained uncertain.」
The company states that changes in the external environment, including lower sales to China, Southeast Asia and other markets, were reflected in the business environment during the period.