Downside Risks to Overseas Economies from the Emerging-Market Slowdown, the Situation in the Middle East and the UK's Withdrawal from the EU
First written in FY2017-Q1. 25 of 34 entries say "Reframed", first in FY2017-Q2. Latest entry: 2026-07-31.
Seibu Electric & Machinery moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 43 of 50 companies on the "Worse" side.
9 other companies' latest entry also says "Reframed".
- 2026-07-31ReframedResults
「一方、原材料価格・エネルギー価格の高止まりや、緊迫化する中東情勢等による地政学的リスクや海外景気の下振れ懸念など、依然として先行き不透明な状況が続いております。」
外部環境リスクについて、原材料・エネルギー価格の高止まり、中東情勢による地政学的リスク、海外景気の下振れ懸念を挙げている。 - FY2026ReframedAnnual report
「Regarding the business environment, a broad-based recovery is expected against the backdrop of improving corporate earnings and increased capital investment. However, conditions are expected to remain susceptible to changes in the external environment, including higher crude oil prices and impacts on resource supplies resulting from escalating tensions in the Middle East, as well as heightened geopolitical risks.」
The disclosure has been revised to focus on conditions in the Middle East, crude oil prices, resource supplies and geopolitical risks as risks associated with overseas economies and the external environment. - FY2026-H1ReframedAnnual report
「Meanwhile, the global economy remains uncertain due to trends in US monetary policy, the slowdown in the Chinese economy, and volatility in energy and resource prices against the backdrop of conditions in the Middle East and Ukraine.」
In addition to the previously cited conditions in the Middle East and Ukraine, the disclosure explicitly identifies trends in US monetary policy, the slowdown in the Chinese economy and volatility in energy and resource prices as factors contributing to uncertainty in overseas economies. - FY2025-H1ReframedAnnual report
「In addition to concerns about higher prices for energy resources such as crude oil due to the continuing Russian invasion of Ukraine and heightened geopolitical risks in the Middle East, inflationary pressure resulting from persistent labor shortages and other risks could cause the domestic and overseas economies to underperform, so the outlook is expected to remain uncertain.」
The disclosure has been revised to focus on the invasion of Ukraine, geopolitical risks in the Middle East, energy resource prices and inflationary pressure resulting from labor shortages as downside factors for overseas economies. - FY2024ReframedAnnual report
「Japan’s economy in fiscal 2024 was moving toward a normalization of economic activity, but semiconductor supply shortages, higher raw material prices, the slowdown in the Chinese economy and volatility in financial and capital markets remained risks requiring close monitoring, and the outlook continued to be uncertain.」
While indicating the normalization of economic activity, the disclosure explicitly identifies semiconductor supply shortages, higher raw material prices, the slowdown in the Chinese economy and volatility in financial and capital markets as risks. - FY2024-Q3ReframedAnnual report
「Meanwhile, the continuing effects of elevated resource prices and inflation, together with concerns about a global recession resulting from worldwide monetary tightening and the slowdown in the Chinese economy, have heightened uncertainty about the outlook.」
The disclosure has been revised from uncertainty factors including the pandemic and shortages of electronic components to focus on resource prices and inflation, worldwide monetary tightening, and concerns about a global recession resulting from the slowdown in the Chinese economy. - FY2024-Q2ReframedAnnual report
「The impact of shortages of electronic components, including semiconductors, on production has begun to ease in some areas. Meanwhile, raw material and resource prices remained elevated in manufacturing, and concerns about a global recession resulting from worldwide monetary tightening and the slowdown in the Chinese economy caused uncertainty to increase further.」
While noting some easing in the impact of electronic component shortages, the disclosure newly cites higher raw material and resource prices, worldwide monetary tightening and concerns about a recession resulting from the slowdown in the Chinese economy. - FY2024-Q1WorsenedAnnual report
「Meanwhile, raw material and resource prices remained elevated in manufacturing, while production continued to be affected by shortages of electronic components, including semiconductors. Concerns about a global recession resulting from monetary tightening in Europe and the US also emerged, causing uncertainty to increase further.」
Amid continuing problems with supplies of raw materials and electronic components, the disclosure newly identifies concerns about a global recession resulting from monetary tightening in Europe and the US, explaining that uncertainty has increased further. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan’s economy showed signs of recovering from the downturn caused by COVID-19. However, the sharp depreciation of the yen increased import costs, resulting in widespread effects from rising prices. In addition, shortages of electronic components, including semiconductors, affected production, particularly in manufacturing, while raw material prices surged and resource prices rose amid concerns about geopolitical risks, so uncertainty about the outlook persisted.」
While noting the recovery following the pandemic, the disclosure continues to cite uncertainty about the outlook resulting from the weaker yen and rising prices, shortages of electronic components, higher raw material and resource prices, and geopolitical risks. - FY2023-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan’s economy showed signs of recovering from the downturn caused by COVID-19. However, the sharp depreciation of the yen increased import costs, resulting in widespread effects from rising prices. In addition, shortages of electronic components, including semiconductors, affected production, particularly in manufacturing, while raw material prices rose and resource prices surged amid concerns about geopolitical risks, so uncertainty about the outlook persisted.」
In addition to the previously cited pandemic, semiconductor supply shortages, raw material prices and geopolitical risks, the disclosure explicitly identifies higher import costs resulting from the sharp depreciation of the yen and rising prices. - FY2022ReframedAnnual report
「Japan’s economy in the next fiscal year is expected to return to a moderate recovery trend as restrictions on and the easing of economic activity are repeated due to the effects of COVID-19. However, downside risks from semiconductor supply shortages, trends in raw material prices and the escalating situation in Ukraine require close monitoring, and the outlook remains extremely uncertain.」
In addition to the pandemic, semiconductor supply shortages and raw material prices, the disclosure explicitly identifies the escalating situation in Ukraine as a downside factor. - FY2022-Q3ReframedAnnual report
「Although economic activity had not yet returned to normal due to the prolonged COVID-19 pandemic, restrictions on movement were gradually eased through wider vaccine uptake and various continuing infection-control measures, and signs of a recovery emerged. Meanwhile, shortages of electronic components, including semiconductors, affected production, particularly in manufacturing, and raw material prices rose, so uncertainty about the outlook persisted.」
While noting the easing of restrictions on movement and signs of a recovery amid the prolonged pandemic, the disclosure identifies shortages of electronic components and rising raw material prices, among other factors, as contributing to an uncertain outlook. - FY2022-Q2ReframedAnnual report
「Although normalization of economic activity is expected as COVID-19 vaccines become more widespread, concerns also exist about a renewed spread of infections. In addition, shortages of electronic components, including semiconductors, have affected production, particularly in manufacturing, while raw material prices have risen, and uncertainty about the outlook persists.」
In addition to expectations for normalization resulting from wider vaccine uptake, the disclosure explicitly identifies a renewed spread of infections, shortages of electronic components and rising raw material prices as factors contributing to an uncertain outlook. - FY2022-Q1ReframedAnnual report
「Although normalization of economic activity is expected as COVID-19 vaccines become more widespread, uncertainty about the outlook persists amid the spread of new variants and other factors.」
Regarding factors contributing to uncertainty in overseas and domestic economies related to COVID-19, the disclosure cites both expectations for normalization resulting from wider vaccine uptake and the spread of new variants. - FY2021RestatedAnnual report
「During the fiscal year under review, Japan’s economy remained uncertain due to the continuing global spread of COVID-19, and domestic capital investment, particularly in manufacturing, continued to be constrained.」
The disclosure continues to cite uncertainty about the outlook resulting from the global spread of COVID-19 and constrained domestic capital investment throughout the fiscal year. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, economic activity in Japan was still affected by COVID-19, and activity in various sectors was required to take place under a range of infection-control measures. As there was still no clear prospect of the pandemic ending, uncertainty about the outlook persisted.」
The disclosure continues to cite the effects of COVID-19 and uncertainty about the economic outlook resulting from the lack of a clear prospect for the pandemic ending. - FY2021-Q2ReframedAnnual report
「During the cumulative second quarter under review, economic activity in Japan showed signs of gradually resuming in some areas despite the continuing effects of COVID-19, but uncertainty about the outlook persisted.」
While noting the partial resumption of economic activity amid the effects of COVID-19, the disclosure states that uncertainty about the outlook has persisted. - FY2021-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan’s economy faced a severe environment, having been significantly affected by the spread of COVID-19, while uncertainty increased not only for exports but also for domestic capital investment.」
In addition to the previously cited uncertainty in overseas economies, the disclosure identifies uncertainty about exports and domestic capital investment resulting from the effects of COVID-19. - FY2020ReframedAnnual report
「Furthermore, the spread of the novel coronavirus has severely affected the economy not only in Japan but worldwide, and there are still no signs that it is coming to an end. Concerns about an economic slowdown have emerged, and uncertainty about the outlook for economic trends and capital investment has increased.」
In addition to the previously cited US-China trade friction, natural disasters and overseas conditions, the disclosure attributes uncertainty about economic trends and capital investment to the global spread of COVID-19. - FY2020-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan’s economy continued to expand moderately overall. However, overseas concerns included the effects of US-China trade friction and economic and social conditions in Europe and the Middle East, while in Japan, the effects of large-scale disasters such as typhoons heightened uncertainty about economic trends and capital investment.」
The disclosure identifies US-China trade friction and concerns about economic and social conditions in Europe and the Middle East as overseas factors, while citing uncertainty about economic trends and capital investment in Japan against the backdrop of large-scale disasters such as typhoons. - FY2020-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan’s economy continued to recover moderately, supported by improvements in corporate earnings and the employment and income environment. However, uncertainty in overseas economies increased, including due to the sluggish Chinese economy resulting from economic friction between the US and China, while the outlook in Japan remained uncertain due to the effects of large-scale natural disasters and the consumption tax increase.」
In addition to the previously cited uncertainty in overseas economies resulting from US-China economic friction and the sluggish Chinese economy, the disclosure explicitly identifies large-scale natural disasters in Japan and the effects of the consumption tax increase as factors contributing to an uncertain outlook. - FY2020-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan’s economy continued to recover moderately, supported by improvements in corporate earnings and the employment and income environment. However, the outlook remained uncertain due to the sluggish Chinese economy resulting from economic friction between the US and China, as well as political instability in the Middle East.」
In addition to the previously cited slowdown in China and emerging Asian economies, the disclosure explicitly identifies the sluggish Chinese economy resulting from US-China economic friction and political instability in the Middle East as factors contributing to uncertainty in overseas economies. - FY2019-Q3ReframedAnnual report
「However, the outlook remains uncertain because the United States' protectionist policies are expanding trade friction and the slowdown in emerging-market economies, led by China, is creating uncertainty in overseas economies.」
While continuing to cite expanding trade friction resulting from US protectionist policies and the slowdown in emerging economies, particularly China, the wording has been revised from “downside risks to overseas economies” to “uncertainty about the outlook due to uncertainty in overseas economies.” - FY2019-Q2ReframedAnnual report
「However, the United States' protectionist policies are expanding trade friction, while downside risks to overseas economies remain, including the slowdown in emerging-market economies, led by China.」
The disclosure lists both expanding trade friction due to US protectionist policies and the slowdown in emerging-market economies, led by China, as downside risks to overseas economies. - FY2019-Q1ReframedAnnual report
「However, the outlook remains uncertain as the United States' protectionist policies expand trade friction.」
The disclosure has shifted from its previous focus on slowing Chinese and Asian emerging-market economies to describing US protectionist policies and expanding trade friction as new sources of uncertainty for overseas economies. - FY2018-Q3RestatedAnnual report
「However, downside risks to overseas economies remain, including the slowdown in Asian emerging-market economies, led by China.」
The slowdown in Asian emerging-market economies, led by China, and downside risks to overseas economies continue to be described. - FY2018-Q2RestatedAnnual report
「However, downside risks to overseas economies remain, including the slowdown in Asian emerging-market economies, led by China.」
The slowdown in Asian emerging-market economies, led by China, and downside risks to overseas economies continue to be described. - FY2018-Q1ReframedAnnual report
「However, downside risks to overseas economies remain, including the slowdown in emerging-market economies, led by China, and the outlook remains uncertain.」
The slowdown in emerging-market economies and downside risks to overseas economies continue, but the previous references to yen appreciation and the situation in the Middle East have been removed, with the risks recast as risks to overseas economies generally. - FY2017ReframedAnnual report
「Our Group exports overseas, particularly to Asia. Accordingly, exchange rates, economic conditions in the countries to which we export, political instability and natural disasters may affect our overseas orders and sales.」
The risks have been recast from the previous concerns over slowing emerging-market economies and yen appreciation as risks across the overseas environment, including exchange rates, economic conditions in destination countries, political instability and natural disasters. - FY2017-Q3RestatedAnnual report
「However, concerns remain, including the slowdown in emerging-market economies, led by China, and the ongoing appreciation of the yen, and the outlook remains uncertain.」
The slowdown in emerging-market economies, led by China, the ongoing appreciation of the yen and uncertainty about the outlook remain areas of concern. - FY2017-Q2ReframedAnnual report
「However, concerns remain, including the slowdown in emerging-market economies, led by China, and the ongoing appreciation of the yen, and the outlook remains uncertain.」
The slowdown in emerging-market economies continues, but the previous reference to the situation in the Middle East has been removed, while the ongoing appreciation of the yen has been identified as a concern. - FY2017-Q1First statedAnnual report
「However, downside risks to overseas economies remain, including the slowdown in emerging-market economies, led by China, continued uncertainty surrounding the Middle East and issues such as the UK's exit from the EU, and the outlook remains uncertain.」
Multiple overseas factors are described as risks contributing to uncertainty about the outlook.