Country Risks in Overseas Business Activities
First written in FY2016. 15 of 21 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-05-27.
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
- FY2026-H1WorsenedAnnual report
「Domestic demand growth has slowed due to the impact of tariff policies, while prices have risen as tariff costs on imports have been passed through, and domestic demand is expected to slow further.」
Country risks surrounding overseas business are described as including slower domestic demand due to tariff policies, rising prices and the possibility of further demand deterioration. - FY2024WorsenedAnnual report
「At the same time, unstable factors, including prolonged international conflicts and the sluggish Chinese economy, have continued without any clear end in sight.」
The external environment surrounding overseas business activities continues to be characterized by unstable factors, including prolonged international conflicts and the sluggish Chinese economy. - FY2024-Q3WorsenedAnnual report
「In the U.S. economy, the year-on-year growth rate of capital investment has slowed, while manufacturing output overall has remained on a declining trend, partly due to the impact of strikes in the automotive and other industries.」
The external-environment risks surrounding overseas business activities are described as including slower growth in U.S. capital investment, strikes in the automotive and other industries, and a declining trend in overall manufacturing output. - FY2024-Q2WorsenedAnnual report
「Although housing demand remains weak, personal consumption in the U.S. economy has remained firm. However, the manufacturing sector has entered an adjustment phase, business sentiment indices have been deteriorating, and statistical results have begun to show a decline in new orders.」
U.S. manufacturing has entered an adjustment phase, with deterioration in business sentiment indices and a decline in new orders indicated, showing that risks in the overseas business environment have materialized. - FY2022WorsenedAnnual report
「In addition, the outlook for the global economy has become extremely difficult to assess, amid concerns over global inflation caused by further increases in resource prices resulting from the Russia-Ukraine conflict and rising prices for a wide range of consumer goods.」
The external environment surrounding overseas business activities is newly described as including higher resource and consumer-goods prices against the backdrop of the Russia-Ukraine conflict, as well as concerns over global inflation. The outlook for the global economy is described as difficult to assess. - FY2022-Q2WorsenedAnnual report
「Regarding sales by product category in other markets, the impact of the COVID-19 pandemic has expanded in Thailand, where lockdown conditions have continued and sales activities have been restricted. As a result, sales of all product categories have remained weak.」
In Thailand, lockdown conditions have continued as the impact of the novel coronavirus disease has expanded, restricting sales activities and leaving sales weak across all product categories. - FY2021MitigatedAnnual report
「Our group will work to reduce these risks by carefully assessing trends in overseas markets and rigorously controlling risk.」
The risks associated with laws and regulations, political and economic conditions, and social disruption arising from overseas business activities are reaffirmed, with monitoring of overseas markets and risk control described as the response measures. - FY2021-Q2RestatedAnnual report
「Across all regions, corporate earnings and capital investment have declined substantially due to the impact of the novel coronavirus disease, and there are still no clear signs of improvement.」
Substantial declines in corporate earnings and capital investment have continued across all regions, including overseas, and no clear signs of improvement have emerged. - FY2021-Q1WorsenedAnnual report
「Corporate earnings declined substantially and capital investment also declined substantially due to the impact of the novel coronavirus disease.」
A substantial decline in corporate earnings and capital investment due to the novel coronavirus disease is described as having occurred in overseas business regions. - FY2020-Q3WorsenedAnnual report
「During the cumulative third-quarter period, sales remained below the initial budget in the Chinese, European and South Korean markets, as in the second quarter, amid continuing chaotic international conditions, although signs of easing had begun to emerge in some areas, including U.S.-China trade friction, Brexit and Japan-South Korea issues.」
Sales in the Chinese, European and South Korean markets are described as having remained below the initial budget for a second consecutive quarter amid continuing chaotic international conditions. External-environment risks associated with overseas business activities have materialized specifically as sales shortfalls. - FY2020-Q2WorsenedAnnual report
「During the cumulative second-quarter period, sales remained below the initial budget in the Chinese, European and South Korean markets amid chaotic international conditions, including U.S.-China trade friction, Brexit and Japan-South Korea issues.」
Sales in the Chinese, European and South Korean markets are described as having fallen below the initial budget against a backdrop of international conditions including U.S.-China trade friction, Brexit and Japan-South Korea issues. - FY2020-Q1WorsenedAnnual report
「Although employment and income conditions remain favorable and personal consumption remains firm, concerns remain over downside risks to the economic outlook, including pressure on the Federal Reserve to cut interest rates, amid the U.S.-China trade friction and uncertainty over trade policies with the EU, Japan and other countries.」
The U.S. market is described as facing concerns over downside risks to the economy against a backdrop of U.S.-China trade friction and uncertainty over trade policies with the EU, Japan and other countries. - FY2019RestatedAnnual report
「Our group conducts sales activities globally, including in Asia and the United States. Depending on circumstances, unexpected changes in laws, regulations or tax systems in these regions, deterioration in political and economic conditions, and social disruption caused by terrorism, war or other factors could affect the group's results.」
The company continues to describe the risks associated with laws and regulations, political and economic conditions, and social disorder arising from overseas business activities in Asia, the United States and other regions. - FY2019-Q3WorsenedAnnual report
「Employment and income conditions remained favorable and personal consumption remained firm, but sales continued below the initial forecast, partly because large projects for which orders had initially been expected were postponed amid concerns about an economic downturn, including a slower pace of rate hikes due to the year-end stock market decline and concerns about an economic slowdown caused by intensifying trade friction.」
The escalation of U.S. trade friction and concerns over an economic downturn are described as having led to the postponement of large-scale projects and sales falling short of the initial forecast. - FY2019-Q2WorsenedAnnual report
「Employment and income conditions remained favorable and personal consumption remained firm, but sales continued below the initial forecast, partly because large projects for which orders had been expected were postponed amid concerns about the adverse economic impact of intensifying trade friction.」
The U.S. market is described as facing concerns over escalating trade friction and the postponement of large-scale projects, with uncertainty surrounding the overseas business environment materializing as specific impacts on orders and sales. - FY2019-Q1WorsenedAnnual report
「Although uncertainty over the outlook remains due to trade friction and other factors, personal consumption and corporate earnings have continued to improve, while capital investment in the automotive industry has remained firm.」
The U.S. market is described as facing uncertainty over the outlook from trade friction as a new external factor. However, personal consumption, corporate earnings and capital investment in the automotive industry are described as remaining firm. - FY2018RestatedAnnual report
「Depending on circumstances, the group's performance may be affected by unexpected changes in laws, regulations or tax systems in the relevant regions, deterioration in political or economic conditions, or social disorder caused by terrorism, war or other factors.」
The company continues to describe the risks associated with laws and regulations, political and economic conditions, and social disorder arising from overseas business activities in Asia, the United States and other regions. - FY2017RestatedAnnual report
「Depending on circumstances, the group's performance may be affected by unexpected changes in laws, regulations or tax systems in the relevant regions, deterioration in political or economic conditions, or social disorder caused by terrorism, war or other factors.」
The company reconfirms the risks associated with laws and regulations, political and economic conditions, and social disorder arising from overseas business activities in Asia, the United States and other regions. - FY2016First statedAnnual report
「Depending on circumstances, the group's performance may be affected by unexpected changes in laws, regulations or tax systems in the relevant regions, deterioration in political or economic conditions, or social disorder caused by terrorism, war or other factors.」
The company describes the risks associated with laws and regulations, political and economic conditions, and social disorder arising from sales activities in Asia, the United States and other regions.