External-environment risks from surging resource and energy prices and yen depreciation
First written in FY2023-Q3. 5 of 9 entries say "Worsened", first in FY2024. Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026-H1WorsenedAnnual report
「The global economy remains uncertain due to fluctuations in crude oil prices caused by heightened geopolitical risks arising from tensions in the Middle East and the situation in Ukraine, as well as volatile foreign exchange markets. In addition, the review of trade policies originating in the United States and the reassessment of decarbonization policies in various countries have further increased global economic uncertainty.」
The disclosure states that uncertainty has increased further due to the US-led review of trade policies and the reassessment of decarbonization policies, in addition to existing geopolitical, crude oil price and foreign-exchange uncertainty. - FY2025WorsenedAnnual report
「Amid multiple uncertainties, including higher crude oil and other energy prices resulting from the situation in Ukraine, and the impact of US restrictions on investment in China and the review of trade policies including tariffs, the outlook remains extremely uncertain.」
The disclosure adds US restrictions on investment in China and changes in trade policies, including tariffs, to the existing geopolitical, energy, raw-material, China and foreign-exchange risks. - FY2025-H1WorsenedAnnual report
「The global economy remained uncertain due to the prolonged situations in Ukraine and the Middle East, persistently high energy and raw-material prices, a review of US trade policies including tariffs, and continued stagnation in China. In addition, the US review of decarbonization policies has increased uncertainty surrounding investment related to decarbonization.」
In addition to geopolitical risks, energy and raw-material prices and China, changes in US trade policies, including tariffs, and decarbonization policies have become sources of uncertainty. Greater uncertainty in decarbonization-related investment is also stated. - FY2024WorsenedAnnual report
「The global economy during the fiscal year ended December 2024 remained uncertain due to geopolitical risks surrounding Ukraine and the Middle East, persistently high energy and raw-material prices, prospects for slower growth in various economies and volatile foreign exchange markets. In addition, the global shift toward decarbonization is showing signs of stagnation in some countries and markets due to political instability in Europe and developments under the new US administration.」
In addition to energy prices and foreign exchange, the disclosure cites Ukraine and the Middle East, political instability in Europe, developments under the new US administration and concerns over stagnation in decarbonization. - FY2024-H1RestatedAnnual report
「The global economy during the six-month period ended June 2025 remained uncertain due to geopolitical risks in the Middle East, the prolonged war in Ukraine, persistently high energy and raw-material prices, concerns over an economic slowdown caused by monetary tightening in the United States and Europe, and signs of slower recovery in China.」
Continued external-environment uncertainty is attributed to geopolitical risks, energy and raw-material prices, monetary tightening and the Chinese economy. The disclosure states that there have been no significant changes in business risks. - FY2024-Q1RestatedAnnual report
「The global economy during the three-month period ended June 2025 remained uncertain, due to persistently high energy prices, concerns over stagnation in the Chinese economy, prospects for an economic slowdown accompanying monetary tightening in various countries, and volatile foreign exchange markets.」
Uncertainty in the external environment, including energy prices and foreign exchange, continues, with concerns over China's stagnation and an economic slowdown caused by monetary tightening also cited. - FY2023-Q3First statedAnnual report
「The impact of soaring resource and energy prices resulting from the prolonged Russian invasion of Ukraine, as well as higher prices caused by yen depreciation, has continued, and conditions remained uncertain.」
The disclosure states that higher resource and energy prices and inflation caused by yen depreciation continue to affect the business.