Increasing economic uncertainty due to the situation in Ukraine and higher energy prices
First written in FY2022. 7 of 15 entries say "Worsened", first in FY2023-Q1. Latest entry: 2026-07-27.
Sanei moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2025: 45 of 80 companies on the "Worse" side.
49 other companies' latest entry also says "Worsened".
- 2026-07-27WorsenedEarnings
「At the same time, uncertainty about the outlook remains high, given factors including rising energy prices caused by escalating tensions in the Middle East and developments in the Bank of Japan's monetary policy. Business sentiment is deteriorating, particularly among small and medium-sized companies that have been unable to fully pass higher raw material prices on to product prices, creating a situation in which resilient domestic demand and concern over risks originating overseas coexist.」
The company continues to cite uncertainty in the external environment, including escalating tensions in the Middle East and higher energy prices. - FY2026WorsenedAnnual report
「Rising crude oil prices stemming from attacks on Iran by the United States and Israel, as well as a naphtha shortage caused by disruptions to maritime transportation, have also affected the cost of resin products. In addition, rising energy costs resulting from yen depreciation pushed up raw material prices overall, putting pressure on earnings.」
Crude oil price increases and the naphtha shortage resulting from the situation in the Middle East, together with higher energy costs due to yen depreciation, have emerged as new specific factors, expanding external environment risks. - 2026-05-07WorsenedEarnings
「The global situation in 2026 remains unstable, with geopolitical risks continuing in areas including the Middle East, the war in Ukraine and US-China tensions.」
In addition to continuing geopolitical risks, the impact of the situation in the Middle East, including higher crude oil prices, emerged as a factor squeezing profits. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, Japan’s economy remained subject for an extended period to developments under the so-called “Trump tariffs” imposed by the U.S. administration. Domestically, soaring rice prices resulting from rice shortages and higher prices across a broad range of goods affected personal consumption, while energy and raw material costs driven by yen depreciation remained high, continuing to affect the earnings of domestic-demand-oriented companies. In addition, geopolitical risks included various issues such as Russia’s attacks on Ukraine, the situation in the Middle East involving Israel and Gaza, and the U.S.-China struggle for trade dominance.」
The Company describes the continuing external environment risks, including Trump tariffs, high prices, yen depreciation, persistently high raw material and energy costs, the situations in Ukraine and the Middle East, and U.S.-China trade friction. - FY2025WorsenedAnnual report
「The outlook remains uncertain owing to the effects of U.S. tariff policies, rising costs due to continued price increases and higher labor costs, concerns over the worsening labor shortage, and other factors.」
In addition to the previously cited geopolitical conditions, foreign exchange movements, and rising raw material and energy prices, U.S. tariff policies, higher labor costs and the worsening labor shortage have been identified as factors contributing to uncertainty in the external environment. - FY2025-H1WorsenedAnnual report
「The outlook remains uncertain owing to soaring energy and raw material prices resulting from geopolitical instability and sharp foreign exchange fluctuations, rising costs due to continued price increases and higher labor costs, and concerns over the worsening labor shortage.」
In addition to the previously cited geopolitical conditions, foreign exchange movements, and rising raw material and energy prices, higher labor costs and concerns over the worsening labor shortage have been explicitly identified, increasing uncertainty over costs and the outlook. - FY2024RestatedAnnual report
「However, owing to the prolonged situation in Ukraine, the worsening situation in the Middle East, rapid yen depreciation and other factors, prices of various goods, including raw materials and energy, have risen, and the outlook remains uncertain.」
The Company continues to describe the uncertainty of the economic environment resulting from the prolonged situation in Ukraine, the worsening situation in the Middle East, yen depreciation, and rising raw material and energy prices. - FY2024-Q3RestatedAnnual report
「However, owing to the prolonged situation in Ukraine, the worsening situation in the Middle East and other factors, prices of various goods, including raw materials and energy, have risen, and the outlook remains uncertain.」
The Company continues to describe the uncertainty of the economic environment resulting from the prolonged situation in Ukraine, the worsening situation in the Middle East, persistently high raw material and energy prices, and rising prices. - FY2024-Q2WorsenedAnnual report
「However, owing to the prolonged situation in Ukraine, the worsening situation in the Middle East and the yen’s depreciation resulting from the effects of global monetary tightening, prices of various goods, including raw materials and energy, have risen, and the outlook remains uncertain.」
In addition to the previously cited situation in Ukraine, energy prices and yen depreciation, the worsening situation in the Middle East has been newly identified as a factor contributing to uncertainty in the external environment, while rising prices and an uncertain outlook continue. - FY2024-Q1RestatedAnnual report
「However, the outlook remains uncertain owing to the persistently high prices of raw materials and energy resulting from the prolonged situation in Ukraine and other factors, as well as the effects of global monetary tightening.」
In addition to the prolonged situation in Ukraine and persistently high raw material and energy prices, global monetary tightening is cited as a factor contributing to uncertainty in the external environment. - FY2023RestatedAnnual report
「The outlook is expected to remain uncertain, owing to the persistently high prices of raw materials and energy resulting from the prolonged situation in Ukraine and other factors, as well as rising prices.」
The Company continues to describe the external environment risks arising from the prolonged situation in Ukraine, persistently high raw material and energy prices, and rising prices. - FY2023-Q3RestatedAnnual report
「Uncertainty persisted due to rising raw material and energy prices resulting from the prolonged situation in Ukraine and other factors, as well as sharp fluctuations in foreign exchange rates.」
The prolonged situation in Ukraine, rising raw material and energy prices, and volatile foreign exchange markets continue, reaffirming the uncertainty of the economic environment. - FY2023-Q2RestatedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, Japan’s economy remained uncertain due to an increase in infections during the 7th wave of COVID-19, rising raw material and energy prices resulting from the prolonged situation in Ukraine, and the rapid depreciation of the yen, among other factors.」
The prolonged situation in Ukraine, rising raw material and energy prices, and rapid yen depreciation continue, reaffirming the uncertainty of the economic environment. - FY2023-Q1WorsenedAnnual report
「However, the outlook remains uncertain due to rising raw material and energy prices resulting from the prolonged situation in Ukraine and other factors, as well as the rapid depreciation of the yen.」
Economic uncertainty continues as the situation in Ukraine becomes prolonged, raw material and energy prices rise, and the yen depreciates rapidly, creating an adverse external environment. - FY2022First statedAnnual report
「While the COVID-19 pandemic remains unresolved, it remains difficult to anticipate the outlook amid Russia’s invasion of Ukraine and rising energy prices.」
Russia’s invasion of Ukraine and rising energy prices are explicitly identified for the first time as new external environment risks alongside the pandemic, higher prices and supply chain instability.