Uncertainty About the Outlook Due to Macroeconomic and Geopolitical Risks
First written in FY2023-Q3. 7 of 10 entries say "Restated". Latest entry: 2026-08-14.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「Although the global economy during the current interim consolidated accounting period showed a gradual recovery trend against a backdrop of easing inflation and expanding capital investment demand, uncertainty about the outlook continued due to geopolitical risks and the impact of international trade policies.」
Describes a recovery trend driven by easing inflation and growing capital investment demand, while stating that geopolitical risks and international trade policies continued to make the outlook uncertain. - FY2025RestatedAnnual report
「The global economy during the consolidated fiscal year showed signs of gradual growth as consumption trends began to improve. However, the economy continued to operate in a highly uncertain environment, including the impact of US government trade policy, and conditions remained unclear.」
States that uncertainty and an unclear economic environment continued, partly due to US government trade policy. - FY2025-H1WorsenedAnnual report
「The global economy during the interim consolidated accounting period remained uncertain. Confusion caused by the US government’s tariff policy continued, while China’s real estate market adjustment and weak consumption persisted. Although the economy continued to grow, the slowdown became more pronounced, and geopolitical risks also remained.」
States that uncertainty continued against a backdrop of confusion caused by US tariff policy, adjustment in China’s real estate market, weak consumption, and geopolitical risks. - FY2024RestatedAnnual report
「The global economy during the consolidated fiscal year remained uncertain. US-China trade tensions were affecting the US presidential election while drawing in the countries concerned and seeking a new direction. International affairs became increasingly unstable as the conflict in Ukraine continued and the conflict in Israel spread to other regions, leaving geopolitical risks unpredictable. Concern over an economic downturn associated with the stagnation of China’s real estate market also persisted.」
In addition to US-China trade tensions and the conflicts in Ukraine and Israel, describes concern over an economic downturn associated with stagnation in China’s real estate market and continued uncertainty over the outlook. - FY2024-H1WorsenedAnnual report
「US-China trade tensions were affecting the US presidential election while drawing in the countries concerned and seeking a new direction. International affairs also became increasingly unstable as the conflict in Ukraine continued and the conflict in Israel spread to other regions. Geopolitical risks remained unpredictable, and the outlook continued to be uncertain.」
Adds that US-China trade tensions were affecting the US presidential election and that the conflict in Israel was spreading to other regions, providing more detail on the destabilization of international affairs. - FY2024-Q1RestatedAnnual report
「The global economy during the first-quarter consolidated cumulative period remained uncertain. Although interest-rate increases and inflation in Europe and the United States were beginning to ease, they continued. US-China trade tensions were drawing in the countries concerned as they sought a new direction, while international affairs became increasingly unstable due to the prolonged conflict in Ukraine and the outbreak of conflict in Israel. Geopolitical risks remained unpredictable.」
Continues to describe uncertainty over the outlook against a backdrop of interest-rate increases and inflation in Europe and the United States, US-China trade tensions, the Ukraine conflict, and the conflict in Israel. - FY2023RestatedAnnual report
「The global economy during the consolidated fiscal year remained uncertain. Although interest-rate increases and inflation in Europe and the United States were beginning to ease, they continued. US-China trade tensions were drawing in the countries concerned as they sought a new direction, while international affairs became increasingly unstable due to the prolonged conflict in Ukraine and the outbreak of a new conflict in Israel. Geopolitical risks remained unpredictable.」
Continues to describe geopolitical uncertainty arising from interest-rate increases and inflation in Europe and the United States, US-China trade tensions, the Ukraine conflict, and the outbreak of conflict in Israel. - FY2023-Q3First statedAnnual report
「Although interest-rate increases and inflation in Europe and the United States were beginning to ease, they continued. US-China trade tensions were drawing in the countries concerned as they sought a new direction, while geopolitical risks, including the prolonged conflict in Ukraine, remained unpredictable. The outlook therefore continued to be uncertain.」
Describes uncertainty in the external environment against a backdrop of monetary tightening and inflation in Europe and the United States, US-China trade tensions, and the prolonged conflict in Ukraine.