Yen appreciation and an uncertain outlook amid political instability in Europe
First written in FY2017-Q1. 6 of 13 entries say "Restated". Latest entry: FY2020.
Ishikawa Seisakusho moved to the "Worse" side of this theme in 2016, 2 years before the typical company in this theme (2018).
The whole theme swung hardest in 2025: 19 of 22 companies on the "Worse" side.
27 other companies' latest entry also says "Dropped".
- FY2020DroppedAnnual report
「The principal risks among the matters concerning the business and accounting conditions described in the annual securities report that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies are as follows.」
The external-environment risks previously described, including political instability in Europe, the UK’s EU withdrawal and exchange-rate fluctuations, are not listed as individual items among the major risks for the fiscal year. - FY2020-Q2RestatedAnnual report
「There were no new developments during the six-month cumulative consolidated period of the current fiscal year among matters concerning the business and financial conditions described in this quarterly report that could have a material impact on investors' decisions, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The external environment, including political developments in Europe and the United States and downside risks to the global economy, is treated as involving no material change in business and other risks. - FY2019ReframedAnnual report
「Our group conducts business primarily in Japan. A decline in demand resulting from an economic downturn in the Japanese market may affect the group's performance.」
The specific descriptions of the external environment previously included in quarterly reports, such as political instability in Europe, the UK’s EU withdrawal and yen appreciation and exchange-rate fluctuations, could not be found in the risk section for the fiscal year; they have been consolidated into the general wording of a decline in demand due to a domestic economic downturn. - FY2019-Q3RestatedAnnual report
「There were no new developments during the nine-month cumulative consolidated period of the current fiscal year among matters concerning the business and financial conditions described in this quarterly report that could have a material impact on investors' decisions, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The external environment, including political developments in Europe and the United States and downside risks to the global economy, is treated as involving no material change in business and other risks. - FY2019-Q2RestatedAnnual report
「There were no new developments during the six-month cumulative consolidated period of the current fiscal year among matters concerning the business and financial conditions described in this quarterly report that could have a material impact on investors' decisions, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The external environment, including political developments in Europe and the United States and downside risks to the global economy, is treated as involving no material change in business and other risks. - FY2019-Q1RestatedAnnual report
「There were no new developments during the three-month cumulative consolidated period of the current fiscal year among matters concerning the business and financial conditions described in this quarterly report that could have a material impact on investors' decisions, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The external environment, including political developments in Europe and the United States and downside risks to the global economy, is treated as involving no material change in business and other risks. - FY2018-Q3RestatedAnnual report
「There were no new developments during the nine-month cumulative consolidated period of the current fiscal year among matters concerning the business and financial conditions described in this quarterly report that could have a material impact on investors' decisions, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The external environment, including political developments in Europe and the United States and downside risks to the global economy, is treated as involving no material change in business and other risks. - FY2018-Q2RestatedAnnual report
「There were no new developments during the six-month cumulative consolidated period of the current fiscal year among matters concerning the business and financial conditions described in this quarterly report that could have a material impact on investors' decisions, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The external environment, including political developments in Europe and the United States and downside risks to the global economy, is treated as involving no material change in business and other risks. - FY2018-Q1ReframedAnnual report
「During the cumulative first-quarter period, the Japanese economy maintained its recovery trend, supported by corporate capital investment and improving employment conditions, but remained uncertain going forward due to concerns over political developments in Europe and the United States and downside risks to the global economy.」
The explanation of uncertainty arising from overseas developments shifted from specific events, such as the UK’s EU withdrawal issue and the US presidential election, to the more general wording of political developments in Europe and the United States and downside risks to the global economy. - FY2017MaterialisedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of recovery, particularly in exports and production, against a backdrop of a moderate recovery in the global economy, and the employment environment continued to improve. However, personal consumption remained weak, and unstable social and economic conditions continued, including frequent sharp fluctuations in stock prices stemming from the UK's EU withdrawal issue and the outcome of the US presidential election.」
An unstable economic environment arising from overseas developments, including sharp share-price fluctuations stemming from the UK’s EU withdrawal issue and the outcome of the US presidential election, was described as the actual operating environment for the fiscal year. - FY2017-Q3MaterialisedAnnual report
「During the cumulative consolidated third quarter, Japan's economy continued on a moderate recovery trend, with improvements seen in the employment and income environment, but remained in an uncertain environment, as stock prices and the yen exchange rate fluctuated sharply due to overseas conditions, including the US presidential election and the UK's EU withdrawal issue.」
The US presidential election was added to the overseas factors, and the specific effects of the UK's EU withdrawal issue and the election, namely sharp fluctuations in stock prices and the yen exchange rate, were described. The situation became more specific, shifting from rapid yen appreciation in the second quarter to broader fluctuations in the yen exchange rate. - FY2017-Q2MaterialisedAnnual report
「During the cumulative consolidated second quarter, Japan's economy continued on a moderate recovery trend, with improvements seen in the employment and income environment, but remained in an uncertain environment, as the yen appreciated rapidly due to the impact of overseas conditions, including the UK's EU withdrawal issue.」
The background was specified more concretely, changing from political instability in Europe to the UK's EU withdrawal issue, and rapid yen appreciation was described as an actual economic condition. - FY2017-Q1First statedAnnual report
「Although Japan's economy maintained a moderate recovery trend, it remained in an uncertain environment, with the yen appreciating rapidly against the backdrop of political instability in Europe and other factors.」
The report newly described rapid yen appreciation against the backdrop of political instability in Europe and an uncertain economic outlook.