Downside risks to economic conditions from geopolitical risks, including the situation in Ukraine
First written in FY2022. 2 of 4 entries say "Worsened", first in FY2023-Q1. Latest entry: FY2024.
OKUMURA ENGINEERING corp. moved to the "Worse" side of this theme in 2022, 2 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 22 of 48 companies on the "Worse" side.
11 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual reportThe individual geopolitical and macroeconomic risks previously cited, including the conflict in Ukraine, soaring energy prices, and inflation in Europe and the United States, cannot be found in the current year's list of major risks. References to concerns about China's economic outlook and general economic conditions remain.
- FY2023-Q3WorsenedAnnual report
「During the first 3 quarters of the consolidated fiscal year, the global economy continued to face uncertainty. Although economic normalization based on living with COVID-19 has progressed in major Western countries, infections have rapidly increased in China following the end of its zero-COVID policy, raising concerns about the potential impact on the global economy. In addition, there is no sign that the conflict in Ukraine will end, and resource and energy prices remain elevated globally. Economic sentiment has deteriorated in Europe and the United States as inflation accelerates and policy interest rates rise, among other factors.」
The conflict in Ukraine continues, as do elevated resource and energy prices and deteriorating economic sentiment in Europe and the United States due to accelerating inflation and higher policy interest rates. Concerns also remain about the global impact of rising infections following China's policy shift, and geopolitical and macroeconomic risks are continuing and intensifying. - FY2023-Q1WorsenedAnnual report
「Meanwhile, various downside economic risks remain, including surging energy prices against the backdrop of the conflict in Ukraine, the yen’s depreciation due to higher US interest rates, and rising prices resulting from global inflationary pressures, and the situation remains unpredictable.」
Soaring energy prices due to the situation in Ukraine, a weaker yen resulting from higher U.S. interest rates, and global inflation and rising prices are emerging and intensifying as downside risks to the economy. - FY2022First statedAnnual report
「The overall situation became more uncertain due to Russia’s military invasion of Ukraine, which began in February 2022, and the economic sanctions imposed on Russia by governments around the world in response.」
The situation in Ukraine and economic sanctions against Russia are described as new geopolitical risks increasing uncertainty in the global economy.