Instability in Overseas Economies and Weak Consumer Sentiment
First written in FY2017-Q1. 23 of 33 entries say "Restated". Latest entry: FY2027-H1.
Kamakura Shinsho moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 141 of 158 companies on the "Worse" side.
55 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「However, the outlook remains uncertain due to overseas economic and price trends, resource prices, and corporate wage- and price-setting behavior.」
We continue to believe that the recovery trend in the domestic economy will coexist with uncertainty over the outlook for overseas economies and prices, resource prices, and companies’ wage- and price-setting behavior. - 2026-09-10RestatedEarnings
「However, the outlook remains uncertain due to overseas economic and price trends, resource prices, and corporate wage- and price-setting behavior.」
The Company recognizes that a recovery trend in the domestic economy coexists with uncertainty surrounding overseas economies and prices, resource prices and corporate wage- and price-setting behavior. - FY2026RestatedAnnual report
「However, the outlook remains uncertain due to overseas economic and price trends, resource prices, and corporate wage- and price-setting behavior.」
The company continues to recognize that a recovery trend in the domestic economy coexists with uncertainty surrounding overseas economic and price trends, resource prices, and companies' wage- and price-setting behavior. - FY2026-H1RestatedAnnual report
「During the current interim consolidated accounting period, the Japanese economy continued on a moderate recovery trend, supported by improvements in employment and income conditions. However, the outlook remained uncertain due to overseas economic and price trends, resource-price trends, and companies' wage- and price-setting behavior.」
A moderate recovery trend in the domestic economy coexists with uncertainty surrounding overseas economic and price trends, resource prices, and companies' wage- and price-setting behavior. - FY2025A recovery trend alongside continued uncertainty about the outlookAnnual report
「During the current consolidated fiscal year, capital investment was on a moderate upward trend, and economic activity was also gradually recovering as employment and income conditions improved gradually. However, the outlook remained uncertain due to overseas economic and price trends, resource-price trends, and companies' wage- and price-setting behavior.」
While indicating a gradual recovery in the domestic economy, the company identifies overseas economic and price trends, resource prices, and companies' wage- and price-setting behavior as sources of uncertainty about the outlook. - FY2024RestatedAnnual report
「The normalization of social and economic activity gained momentum as COVID-19 was reclassified as a Class V infectious disease, and the global economy generally continued on a moderate recovery trend. However, the outlook requires close monitoring of the effects of rising prices and fluctuations in foreign exchange and financial capital markets amid the prolonged situation in Ukraine and continuing global monetary tightening.」
While acknowledging the normalization of social and economic activity and a moderate recovery, the company continues to identify the Ukraine situation, monetary tightening, prices, and fluctuations in foreign exchange and financial markets as risks. - FY2024-Q2Normalization of social and economic activity alongside financial and price risksAnnual report
「During the cumulative second quarter of the current fiscal year, the normalization of social and economic activity gained momentum as COVID-19 was reclassified as a Class V infectious disease, and the global economy generally continued on a moderate recovery trend. However, the outlook requires close monitoring of the effects of rising prices and fluctuations in foreign exchange and financial capital markets amid the prolonged situation in Ukraine and continuing global monetary tightening.」
While normalization of social and economic activity gained momentum following COVID-19's reclassification as a Class V infectious disease, the Ukraine situation, monetary tightening, rising prices and fluctuations in foreign exchange and financial capital markets continued to be identified as risk factors. - FY2024-Q1RestatedAnnual report
「Similarly, in Japan, the economy continued to recover gradually as social and economic activity normalized, but uncertainty remained due to concerns about the impact of soaring raw-material and energy prices on personal consumption.」
While acknowledging a recovery in economic activity, the company continues to describe uncertainty about the outlook due to soaring raw-material and energy prices, high inflation and monetary tightening. It does not quantify the risks or indicate that they have specifically affected the company's performance. Quantification as an identified risk: false; actual occurrence: false. - FY2023WorsenedAnnual report
「Similarly, in Japan, the economy continued to recover gradually as social and economic activity normalized, but remained in a difficult situation due to soaring global energy and food prices and monetary tightening in Europe and the United States.」
While describing a recovery in economic activity, the company specifically identifies soaring energy and food prices and monetary tightening in Europe and the United States as new sources of uncertainty. - FY2023-Q3RestatedAnnual report
「While economic activity moved toward normalization as restrictions on activity were eased amid the continuing impact of COVID-19, the outlook remained uncertain due to concerns about the effects on personal consumption and consumer behavior of soaring resource and raw-material prices resulting from the prolonged Russia-Ukraine situation and rising prices accompanying the rapid depreciation of the yen.」
The company continues to describe uncertainty about the outlook arising from COVID-19, the Russia-Ukraine situation, soaring resource and raw-material prices, rapid yen depreciation and rising prices. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter of the current fiscal year, restrictions on social and economic activity resulting from COVID-19 began to ease as measures to prevent the spread of infection and vaccination became more widespread, and activity began moving toward normalization. However, uncertainty continued as the repeated spread and containment of infections coincided with soaring resource and raw-material prices resulting from Russia's invasion of Ukraine and yen depreciation.」
While noting the easing of restrictions on social and economic activity and the move toward normalization, the company specifically identifies the repeated spread and containment of infections, soaring resource and raw-material prices, and yen depreciation as sources of uncertainty. - FY2023-Q1WorsenedAnnual report
「Although signs of a recovery have begun to emerge as economic activity resumes in stages while the effects of COVID-19 remain pronounced, the economic environment remains uncertain due to changes in the business environment, including soaring resource prices resulting from the Russia-Ukraine situation.」
In addition to the impact of COVID-19, the company specifically identifies the Russia-Ukraine situation and soaring resource prices as new sources of uncertainty. - FY2022-Q3MitigatedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan's economy was in a difficult situation overall, with the state of emergency declared in January, April and July 2021 due to the spread of COVID-19 and infections surging in August. However, the number of infections began to decline as a result of the government's promotion of vaccination and other measures, and signs of a recovery emerged as economic activity resumed in stages, including the full lifting of the state of emergency in October.」
The company describes the decline in infections, the full lifting of the state of emergency in October and signs of a recovery as economic activity resumed, indicating some improvement in the external environment from the difficult conditions through the previous quarter. - FY2022-Q2RestatedAnnual report
「The outlook remained unclear, with the state of emergency reissued in January, April and July 2021.」
COVID-19, the reissuance of the state of emergency and uncertainty about the outlook continued. The company also states that there were no material changes to the risks identified in the previous fiscal year. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy remained difficult due to the impact of COVID-19. Although there were signs of a recovery as economic activity resumed in stages, the outlook remained unclear, including the reissuance of the state of emergency in January and April 2021.」
The company continues to describe the difficult economic conditions and uncertainty about the outlook caused by COVID-19, as well as the reissuance of the state of emergency. - FY2021-Q3RestatedAnnual report
「Although economic activity gradually began to resume after the state of emergency was lifted, infections continued to spread both in Japan and overseas, and the outlook remained uncertain.」
The company identifies the spread of COVID-19 and continued uncertainty about the outlook after the resumption of economic activity as external-environment risks, continuing from the previous quarter. It also states that there were no material changes to the risks themselves. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy was in a very difficult situation, with the domestic economy deteriorating sharply due to the spread of COVID-19. Although there were signs of a recovery in economic activity after the state of emergency was lifted, uncertainty about the outlook continued.」
Regarding COVID-19, the company specifically describes a sharp deterioration in the domestic economy and a very difficult situation, following the stagnation of economic activity and economic downturn in the previous quarter. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy saw economic activity stagnate due to the impact of COVID-19, and the economy experienced a sharp downturn.」
Regarding COVID-19, the company has moved from describing it as a source of uncertainty to describing its actual effects, namely stagnation in economic activity and a sharp economic downturn. - FY2020WorsenedAnnual report
「However, the outlook remains uncertain due to the impact of U.S. economic policy and the spread of the novel coronavirus originating in China, among other factors.」
In addition to the previous uncertainty in the overseas economy, the company specifically identifies the spread of the novel coronavirus originating in China, clarifying the factors behind the uncertain outlook. - FY2020-Q2RestatedAnnual report
「However, the outlook remains uncertain, with concerns about the impact of escalating U.S.-China trade friction on the global economy and the impact of the consumption tax increase on personal consumption and other areas.」
The company reiterates that the economic environment remains uncertain, including U.S.-China trade friction and the impact of the consumption tax increase on personal consumption. - FY2020-Q1RestatedAnnual report
「However, the outlook remains uncertain due to uncertainty in the global economy resulting from escalating U.S.-China trade friction, concerns about an economic downturn following the consumption tax increase, and other factors.」
The company reiterates that the economic environment remains uncertain, including U.S.-China trade friction and concerns about an economic downturn following the consumption tax increase. - FY2019RestatedAnnual report
「The outlook remains uncertain due to uncertainty in the overseas economy, concerns about an economic downturn following the consumption tax increase, and other factors.」
The company reiterates the uncertainty about the outlook, including uncertainty in the overseas economy and concerns about an economic downturn following the consumption tax increase. - FY2019-Q3RestatedAnnual report
「However, the outlook remains uncertain due to uncertainty in the overseas economy resulting from the impact of U.S. economic policy, concerns about an economic downturn following the consumption tax increase, and other factors.」
In addition to uncertainty in the overseas economy, the company cites concerns about an economic downturn following the consumption tax increase and reiterates its view that uncertainty about the outlook will continue. - FY2019-Q2RestatedAnnual report
「While the economy continued to recover moderately on the back of a recovery in corporate earnings and improvements in employment and income conditions, concerns about fluctuations in foreign exchange and financial markets resulting from developments in U.S.-China economic tensions contributed to an uncertain outlook.」
While newly specifying U.S.-China economic friction as a concern for the overseas economy, the company reiterates its previous view that uncertainty about the outlook will continue. - FY2019-Q1RestatedAnnual report
「Concerns about overseas economies and changes in financial and capital markets have emerged, and unstable conditions are expected to continue.」
The Company reiterates its concerns about overseas economies and financial and capital markets, as well as the continuation of an unstable outlook. - FY2018RestatedAnnual report
「Concerns about overseas developments, including U.S. economic and monetary policy and the situation in North Korea, remain deeply rooted, and conditions continue to be uncertain.」
The Company expresses the view that caution regarding overseas developments and an uncertain outlook have continued. - FY2018-Q3RestatedAnnual report
「Meanwhile, concerns about overseas developments, including U.S. economic and monetary policy and the situation in North Korea, remain deeply rooted, and conditions continue to be uncertain.」
The Company describes continued caution regarding overseas developments, including U.S. economic and monetary policy and the situation in North Korea, as well as continued uncertainty. - FY2018-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan’s economy continued to recover moderately on the back of improvements in employment and income conditions, although the outlook remained uncertain amid increasing uncertainty in overseas economies and caution over volatility in financial and capital markets.」
The Company expresses the view that uncertainty in overseas economies, caution over financial and capital markets, and an uncertain outlook have continued. - FY2018-Q1RestatedAnnual report
「Meanwhile, there remain many concerns about the global economy, including developments under the new U.S. administration and the situation on the Korean Peninsula, and the outlook continues to be uncertain.」
The Company expresses the view that concerns about the global economy and an uncertain outlook have continued. - FY2017RestatedAnnual report
「Amid concerns about rising uncertainty in overseas economies and volatility in financial and capital markets, personal consumption and the pace of price increases have slowed, while share prices and foreign-exchange markets have remained unstable, leaving the outlook uncertain.」
The Company reiterates its view of an uncertain outlook surrounding overseas economies, financial markets, personal consumption, share prices and foreign exchange markets. - FY2017-Q3RestatedAnnual report
「Amid concerns about rising uncertainty in overseas economies and volatility in financial and capital markets, personal consumption and the pace of price increases have slowed, while share prices and foreign-exchange markets have remained unstable, leaving the outlook uncertain.」
The Company expresses the view that uncertainty in overseas economies, weak consumer conditions and an uncertain outlook have continued. - FY2017-Q2RestatedAnnual report
「Amid concerns about rising uncertainty in overseas economies and volatility in financial and capital markets, personal consumption and the pace of price increases have slowed, while share prices and foreign-exchange markets have remained unstable, leaving the outlook uncertain.」
The previous concerns regarding uncertainty in overseas economies and weak consumer conditions have continued, and conditions in financial markets, share prices and foreign exchange markets are also described. - FY2017-Q1First statedAnnual report
「Consumer sentiment remained weak amid concerns about instability in overseas economies, particularly those of emerging and resource-rich countries.」
Concerns about instability in overseas economies and persistently weak consumer sentiment are identified as external environmental risks.