Foreign Exchange, Economic, Political and Social Risks Associated with Overseas Operations
First written in FY2016. 10 of 37 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026.
Amada 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 2025: 72 of 117 companies on the "Worse" side.
47 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Overseas sales accounted for 64.3% of consolidated revenue in the fiscal year. Accordingly, the Group's results may be affected by conflicts in countries where it operates, including wars, civil wars and coups, terrorism, economic trends, changes in political and social conditions, and unexpected changes in laws and regulations.」
The overseas sales ratio rose from 63.6% in the previous fiscal year to 64.3%, increasing the Group's exposure to overseas conditions, including US tariff policy and regional economic weakness. - 2026-05-14WorsenedEarnings
「Asia and other regions: Although companies generally took a cautious stance toward capital investment due to the impact of U.S. tariffs and the slowdown in China’s economy, demand related to data centers remained firm in China, India and Vietnam.」
The full-year results showed the regional impact of U.S. tariffs and China’s economic slowdown on overseas business risks. - FY2026-H1WorsenedAnnual report
「In Canada, companies continued to take a cautious approach to capital investment amid uncertainty over the outlook due to developments in US tariff policy and the upcoming renegotiation of the agreement.」
Regarding political and economic risks associated with the overseas business, the filing identifies the impact of US tariff policy on Canada as a regional factor contributing to more cautious capital investment. - FY2025Overseas sales ratio 63.6%, mixed regional performanceAnnual report
「Overseas sales accounted for 63.6% of consolidated revenue in the fiscal year.」
The overseas sales ratio rose from 63.1% in the previous fiscal year to 63.6%. Overseas revenue amounted to ¥252,357 million, down 0.8% from the previous fiscal year, with higher revenue in North America and lower revenue in Europe and Asia and other regions. - FY2025-H1Overseas sales ratio 63.1%, lower revenue in AsiaAnnual report
「Overseas 118,185 63.2 116,506 63.1 △1.4」
Overseas revenue amounted to ¥116,506 million, accounting for 63.1% of consolidated revenue, down 1.4% year on year. North America and Europe recorded higher revenue, while Asia and other regions declined 12.7% year on year. - FY2024Overseas sales ratio 63.1%Annual report
「Overseas sales accounted for 63.1% of consolidated revenue in the fiscal year.」
The overseas sales ratio rose from 61.2% in the previous fiscal year to 63.1%. Overseas revenue amounted to ¥254,476 million, up 13.6% from the previous fiscal year. - FY2024-Q3Overseas sales ratio rises to 64.2%Annual report
「Overseas 162,472 62.8 182,975 64.2 12.6」
Cumulative overseas revenue for the third quarter amounted to ¥182,975 million, up 12.6% year on year, and overseas sales accounted for 64.2% of consolidated revenue. Dependence on overseas sales increased from 63.2% in the cumulative previous quarter. - FY2024-Q2Overseas sales ratio rises to 63.2%Annual report
「Overseas 103,476 61.1 118,185 63.2 14.2」
Cumulative overseas revenue for the second quarter amounted to ¥118,185 million, up 14.2% year on year, and accounted for 63.2% of consolidated revenue. Dependence on overseas sales has increased from 61.2% at the end of the previous fiscal year. - FY2024-Q1Overseas sales ratio rises to 67.7%Annual report
「Overseas 58,541 67.7 20.3%」
Overseas revenue amounted to ¥58,541 million, up 20.3% year on year, and overseas sales accounted for 67.7% of consolidated revenue. Dependence on overseas business revenue has increased further from 61.2% at the end of the previous fiscal year. - FY2023Higher overseas sales ratio, limited impact from the situation in RussiaAnnual report
「Overseas sales accounted for 61.2% of consolidated revenue in the fiscal year. Accordingly, the Group's results may be affected by conflicts in countries where it operates, including wars, civil wars and coups, terrorism, economic trends, changes in political and social conditions, and unexpected changes in laws and regulations. The Group also has a subsidiary in the Russian Federation (Moscow). Although the situation in Russia and Ukraine is expected to affect the Group's results through sanctions imposed by various countries on Russia and other measures, the impact on the Group's consolidated results is minor.」
The overseas sales ratio rose from 59.4% in the previous fiscal year to 61.2%. While recognizing the potential impact of the situation in Russia and Ukraine, the filing states that the impact on consolidated results is minor. - FY2023-Q3Overall overseas revenue growth with mixed regional performanceAnnual report
「North America: Although concerns about an economic slowdown arose due to the effects of accelerating inflation and monetary tightening to address it, demand for capital investment remained firm throughout the fiscal year, driven by supply-chain restructuring involving the US and neighboring countries. The weaker yen also contributed, resulting in revenue of ¥55,575 million, up 25.6% year on year.」
Overseas revenue increased 18.4% year on year. North America recorded higher revenue due to supply-chain restructuring and other factors, while higher energy prices in Europe and factory relocations in China were identified as factors behind lower revenue. - FY2023-Q2Overseas recovery alongside slower Europe and weak ChinaAnnual report
「North America: Although concerns about a slowdown in the US economy grew due to continued inflation and interest-rate hikes, and sentiment toward capital investment, particularly in manufacturing, has recently been deteriorating, demand for capital investment remained firm, supported by the return of manufacturing and supply chains to the US and neighboring countries. Demand for automation products driven by labor shortages also expanded, resulting in revenue of ¥35,785 million, up 24.0% year on year.」
In North America, concerns arose over an economic slowdown and deteriorating sentiment toward capital investment, but revenue increased 24.0% year on year, supported by the return of manufacturing and supply chains and demand for automation driven by labor shortages. - FY2023-Q1Overseas recovery alongside the impact of lockdowns in ChinaAnnual report
「In China, economic growth stagnated due to localized lockdowns, and our sales declined as our operations were affected by the suspension of sales activities and postponement of trade shows. Meanwhile, sales recovered in India, where exports were strong and demand for agricultural machinery and social infrastructure was increasing, and in ASEAN, against a backdrop of supply-chain restructuring, resulting in revenue of ¥7,401 million, up 10.8% year on year.」
Overseas sales increased overall, but in China localized lockdowns led to the suspension of sales activities, postponement of trade shows and lower sales, while sales recovered in India and ASEAN. - FY2022Overseas recovery and risks related to the situation in RussiaAnnual report
「Overseas sales accounted for 59.4% of consolidated revenue in the fiscal year. Accordingly, the Group's results may be affected by conflicts in countries where it operates, including wars, civil wars and coups, terrorism, economic trends, changes in political and social conditions, and unexpected changes in laws and regulations.」
The overseas sales ratio rose from 54.9% to 59.4%, and overseas revenue increased 35.0% from the previous fiscal year, while the potential impact of the situation in Russia and Ukraine and sanctions imposed by various countries on Russia was newly specified. - FY2022-Q3Recovery across all overseas regions, with slower ASEAN growthAnnual report
「In India, sales also showed a V-shaped recovery as capital investment, led by infrastructure and construction-related sectors, recovered alongside the normalization of economic activity. In ASEAN, sales growth was slower than in other countries due in part to the impact of lockdowns in Thailand and Vietnam, but revenue for the region as a whole remained strong at ¥23,028 million, up 41.2% year on year.」
The recovery in sales across overseas regions, including India, broadened, and Asia and other regions also increased 41.2% year on year, while ASEAN growth was relatively slower due to the impact of lockdowns in Thailand and Vietnam. - FY2022-Q2Broader recovery across overseas regions, with continued ASEAN constraintsAnnual report
「Revenue by market was ¥54,359 million in Japan, up 6.6% year on year, and ¥87,536 million overseas, up 40.0%.」
Overseas revenue increased 40.0% year on year, with the recovery broadening in North America, Europe and China, among other regions, while the effects of the spread of infections, operating restrictions and surging raw material prices continued in ASEAN. - FY2022-Q1Recovery across overseas regions and constraints in some regionsAnnual report
「Revenue by market was ¥19,236 million in Japan, up 1.2% year on year, and ¥42,941 million overseas, up 49.8%.」
Overseas revenue increased 49.8% year on year, with a recovery centered on North America and Europe. In the ASEAN region, however, the effects of new variants, mobility and operating restrictions, and surging raw material prices continued. - FY2021MaterialisedAnnual report
「Overseas sales accounted for 54.9% of consolidated revenue in the fiscal year.」
With overseas sales accounting for 54.9%, overseas revenue amounted to ¥137,599 million, down 21.1% from the previous fiscal year, indicating that risks associated with overseas economic, political and social conditions are reflected in full-year results. - FY2021-Q3MaterialisedAnnual report
「Revenue by market was ¥73,082 million in Japan, down 26.7% year on year, and ¥98,633 million overseas, down 23.3%.」
Risks associated with the economic, political and social conditions affecting the overseas business continued to materialize in actual results as a 23.3% year-on-year decline in overseas revenue. - FY2021-Q2WorsenedAnnual report
「Overseas revenue amounted to ¥62,518 million, down 24.0% year on year.」
Although some signs of recovery were seen in the US, Europe and Asia, overseas revenue declined 24.0% year on year, with the decline widening from the 12.2% year-on-year decrease in the previous quarter. - FY2021-Q1WorsenedAnnual report
「Partly due to the impact of lockdowns, sales fell sharply in France, Italy and Germany, our main markets, resulting in revenue of ¥7,877 million, down 38.7% year on year.」
Regarding economic, political and social risks associated with the overseas business, the impact of lockdowns materialized as lower sales in major European countries, and overseas revenue declined 26.8% year on year. - FY2020MaterialisedAnnual report
「Overseas sales accounted for 54.5% of consolidated revenue in the fiscal year. Accordingly, the Group's results may be affected by economic trends and changes in the political and social conditions of countries where it operates, unexpected changes in laws and regulations, the recent shift toward protectionist policies in the US, US-China trade friction, and the UK's withdrawal from the EU (Brexit).」
With overseas sales accounting for 54.5%, overseas revenue declined 7.8% from the previous fiscal year. Economic and political risks overseas associated with US-China trade friction and other factors are materializing as lower sales. - FY2020-Q2MaterialisedAnnual report
「Overseas revenue amounted to ¥82,217 million, down 6.8% year on year.」
Economic, political and other risks associated with the overseas business materialized as lower overseas revenue. North America recorded higher revenue, while Europe declined 9.5% year on year and Asia and other regions declined 17.8%. - FY2020-Q1MaterialisedAnnual report
「North America: In the US, capital investment, which had remained at a high level, became more cautious amid uncertainty over trade policy and other factors, resulting in lower sales to the construction-related market, which had performed well in the previous fiscal year. In Europe, sales remained sluggish in major countries such as Germany and France amid deteriorating business sentiment in the manufacturing sector within the EU, while the weaker euro also had an impact.」
Political and economic risks affecting the overseas business materialized in actual results as lower sales in North America and Europe. Overseas revenue declined 12.2% year on year, and the overseas sales ratio was 60.4%. - FY2019Overseas sales ratio rises to 55.9%Annual report
「Overseas sales accounted for 55.9% of consolidated revenue in the fiscal year.」
The overseas sales ratio rose from 55.7% in the previous fiscal year to 55.9%, while overseas revenue amounted to ¥189,182 million, up 12.5% year on year. - FY2019-Q3RestatedAnnual report
「Although the US faced uncertainty over trade friction and other issues, the economy continued to grow, manufacturing activity remained robust, and capital investment remained at a high level. In Europe, although political instability in some major countries and uncertainty over the economic outlook were evident, capital investment continued to recover gradually.」
While continuing to identify US trade friction, political instability in major European countries, and uncertainty over the economic outlook, the filing also indicates a recovery in the economies and capital investment of both regions. - FY2019-Q2RestatedAnnual report
「Although the US faced uncertainty over trade friction and other issues, the economy continued to grow, business sentiment in the manufacturing sector remained favorable, and capital investment remained at a high level. In Europe, although some uncertainty arose from political instability in major countries, the euro area as a whole continued to see a gradual recovery in both economic activity and capital investment.」
While continuing to identify uncertainty associated with the overseas business, including US trade friction and political instability in major European countries, the filing also indicates a recovery in the economies and capital investment of the US and Europe as a whole. - FY2019-Q1Regional uncertainty due to trade friction and political instabilityAnnual report
「Overseas, although the US faced uncertainty over trade friction and other issues, capital investment remained at a high level alongside the expansion of personal consumption, and the economy continued to grow. In Europe, although some uncertainty arose from political instability in major countries, the euro area as a whole continued to recover gradually.」
The filing identifies political and economic risks associated with the overseas business, including US trade friction, political instability in major European countries, and uncertainty surrounding Brexit in the UK. At the same time, it notes the recovery in capital investment and the economy across the US and Europe. - FY2018Record overseas sales and higher overseas sales ratioAnnual report
「As the global economy expanded and sales remained strong across all divisions, overseas sales reached a record ¥169,993 million, up 15.1% year on year.」
Overseas sales reached a record high, and the overseas sales ratio rose from 52.9% in the previous fiscal year to 56.5%. - FY2018-Q3Overseas sales growth driven by the weaker yen and overseas demandAnnual report
「Against this backdrop, overseas sales amounted to ¥121,093 million, up 14.0% year on year.」
Overseas sales increased 14.0% year on year. In terms of earnings, the filing also identifies the weaker yen, which continued to trade at lower levels than in the previous fiscal year, as a factor behind the increase in profit. - FY2018-Q2Increase in overseas revenue driven by yen depreciationAnnual report
「Against this backdrop, overseas sales amounted to ¥75,689 million, up 14.6% year on year, due in part to the weaker yen and increased sales of the company's core fiber laser products.」
Foreign-exchange exposure associated with the overseas business remains, but this filing identifies the weaker yen as a factor behind the increase in overseas sales. - FY2018-Q1MaterialisedAnnual report
「Canada and Mexico remained weak amid uncertainty over US policy developments, but sales in the sheet-metal and cutting divisions remained firm in the United States, where investment in construction and infrastructure was active. Revenue was ¥11,338 million, up 4.7% year on year.」
While uncertainty over US policy developments was reflected in weak performance in Canada and Mexico, sales remained firm in the United States itself. - FY2017MaterialisedAnnual report
「To address the globalization of markets, the group has established production and sales bases overseas, including in North America, Europe and Asia. Overseas revenue accounted for 52.9% of consolidated revenue in the current consolidated fiscal year. Accordingly, changes in the economic, political and social conditions of countries in which it operates, as well as unexpected changes in laws and regulations, may affect the group's results.」
The report states that, with overseas revenue accounting for 52.9%, overseas revenue fell 10.1% year on year due to the stronger yen, and profitability also deteriorated. - FY2017-Q3MaterialisedAnnual report
「Meanwhile, although the exchange rate turned toward yen depreciation after the US presidential election in November last year, the yen was stronger than in the same period of the previous year over the third quarter of the current cumulative consolidated period. As a result, corporate earnings, particularly at export-related companies, deteriorated, and the economy remained stagnant.」
The report states that the stronger yen year on year during the third quarter cumulative period led to deteriorating earnings at export-related companies and declines in operating profit, ordinary profit and profit attributable to owners of the parent. - FY2017-Q2MaterialisedAnnual report
「Meanwhile, the Japanese economy faced heightened uncertainty over its outlook as the appreciation of the yen since the beginning of the year caused corporate earnings to deteriorate, particularly among exporters.」
The report states that the appreciation of the yen contributed to deteriorating earnings at exporters, while operating profit and ordinary profit also declined year on year for the cumulative quarter due in part to foreign-exchange effects. - FY2017-Q1MaterialisedAnnual report
「Meanwhile, the Japanese economy faced heightened uncertainty over its outlook as the appreciation of the yen since the beginning of the year caused improvements in corporate earnings to stall.」
The appreciation of the yen had an actual impact on results, reducing operating profit, ordinary profit and profit attributable to owners of the parent for the quarter from the same period of the previous year. - FY2016First statedAnnual report
「To address the globalization of markets, the group has established production and sales bases overseas, including in North America, Europe and Asia. Overseas revenue accounted for 54.6% of consolidated revenue in the previous consolidated fiscal year and 54.0% in the current consolidated fiscal year. The group hedges these risks through measures such as forward foreign-exchange transactions, but fluctuations in exchange rates and changes in the economic, political and social conditions of countries in which it operates may affect its results.」
The report quantifies the ratio of overseas revenue and notes that, although the group hedges foreign-exchange risk, exchange-rate movements and conditions in individual countries may affect results.