Deterioration in the Market Environment Due to Lower Commodity Prices, Political Instability, Yen Appreciation and Slower Growth in Emerging Markets
First written in FY2016-Q3. 17 of 39 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-05-25.
Nissei Asb Machine moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 158 of 184 companies on the "Worse" side.
84 other companies' latest entry also says "Worsened".
- 2026-05-25WorsenedFinancial results briefing materials
「Crude oil prices surged because of the situation in the Middle East, resulting in higher resin prices and supply concerns」
In addition to existing geopolitical risks, concerns involving crude oil prices, resin prices and supply stemming from the situation in the Middle East became more concrete. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period (1 October 2025–31 March 2026, hereinafter the “interim period”), the global economy remained uncertain, amid continued and heightened geopolitical tensions and concerns about an economic downturn accompanying shifts in monetary policy in major countries.」
In addition to the existing geopolitical risks, heightened tensions and concerns about an economic downturn resulting from shifts in monetary policy in major countries were cited, and the outlook remained uncertain. - FY2025WorsenedAnnual report
「However, economic uncertainty increased due to the prolonged geopolitical risks and the impact of US trade and tariff policies, among other factors, and the overall outlook remained uncertain.」
It was explained that, in addition to the existing geopolitical risks, the impact of US trade and tariff policies was explicitly identified, increasing economic uncertainty. - FY2025-H1Inflation slows, but uncertainty over geopolitics and US policy heightens concernsAnnual report
「During the interim consolidated fiscal period (1 October 2024 to 31 March 2025, the interim period), the global economy remained firm against a backdrop of slowing inflation. However, anxiety over the outlook increased further due to prolonged geopolitical risks in Europe and the Middle East and the uncertain policy direction of the Trump administration in the United States.」
It was explained that, while the economy remained resilient against a backdrop of slowing inflation, prolonged geopolitical risks in Europe and the Middle East and policy uncertainty under the US administration caused concerns about the outlook to increase further. - FY2024Inflationary pressures ease, but uncertainty and geopolitical issues continueAnnual report
「The global economy remained firm during the fiscal year under review against a backdrop of easing inflationary pressures. However, uncertainty surrounding equity markets and foreign exchange markets remained high, and financial markets continued to be unstable. In addition, geopolitical issues in Europe and the Middle East have been prolonged, leaving the economic environment uncertain.」
Although easing inflationary pressures and the resilience of the global economy were reported, uncertainty in equity and foreign exchange markets, instability in financial markets, and geopolitical issues in Europe and the Middle East continued. - FY2024-Q2WorsenedAnnual report
「During the second quarter of the fiscal year under review (1 October 2023 to 31 March 2024), the global economy remained uncertain, with no clear outlook, due to growing concerns over an economic slowdown accompanying global inflation and monetary tightening, as well as increasing geopolitical risks resulting from heightened tensions in the Middle East and the protracted situation in Ukraine.」
In addition to the continuing effects of inflation, monetary tightening and the situation in Ukraine, the report noted heightened tensions in the Middle East, increasing geopolitical risks and growing concerns over an economic slowdown. - FY2024-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review (1 October 2023 to 31 December 2023), the global economy remained unstable overall due to rising geopolitical risks stemming from the Russia-Ukraine conflict and the situation in the Middle East, as well as concerns over an economic slowdown caused by rising prices and persistently high policy rates in Japan and overseas.」
It was reported that the unstable external environment continued due to the Russia-Ukraine conflict, the situation in the Middle East, rising prices and persistently high policy rates. - FY2023WorsenedAnnual report
「The global economy remained in an uncertain situation due to the prolonged situation between Russia and Ukraine, worsening conditions in the Middle East and other increasing geopolitical risks, as well as concerns over the impact of global monetary tightening.」
In addition to the previously reported situation between Russia and Ukraine, inflation and monetary tightening, the report explicitly identified worsening conditions in the Middle East and increasing geopolitical risks. - FY2023-Q3RestatedAnnual report
「During the third quarter of the fiscal year under review (1 October 2022 to 30 June 2023), economic activity resumed in earnest around the world following the COVID-19 pandemic. However, the outlook remained uncertain due to persistently high raw material and energy prices caused by the situation between Russia and Ukraine, rising inflation and concerns over an economic slowdown resulting from monetary tightening.」
Although economic activity was resuming, the report continued to describe an uncertain external environment due to persistently high raw material and energy prices, inflation, monetary tightening and concerns over an economic slowdown. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the fiscal year under review (1 October 2022 to 31 March 2023), economic activity resumed in earnest around the world following the COVID-19 pandemic. However, the outlook remained uncertain due to persistently high raw material and energy prices caused by the situation between Russia and Ukraine, concerns over an economic slowdown resulting from rising inflation and monetary tightening, and the effects of turmoil in the financial sector.」
In addition to the previously reported high raw material and energy prices, inflation and monetary tightening, the report newly noted the effects of turmoil in the financial sector, with the uncertain external environment continuing. - FY2023-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review (1 October 2022 to 31 December 2022), economic activity resumed in earnest around the world following the COVID-19 pandemic. However, the outlook remained uncertain due to surging raw material and energy prices caused by the situation between Russia and Ukraine, rising interest rates in response to inflation risks and the resulting rapid foreign exchange fluctuations.」
It was reported that, although the resumption of economic activity was gathering pace, the uncertain external environment continued due to surging raw material and energy prices, higher interest rates and rapid foreign exchange fluctuations. - FY2022WorsenedAnnual report
「During the fiscal year under review, economic activity resumed around the world following the COVID-19 pandemic. However, the outlook remained uncertain due to prolonged supply chain disruptions, surging energy prices caused by the situation between Russia and Ukraine, sharp interest rate increases and the resulting rapid foreign exchange fluctuations.」
Although economic activity was resuming, the report noted that the uncertain external environment continued due to supply chain disruptions, surging energy prices, higher interest rates and rapid foreign exchange fluctuations. - FY2022-Q3RestatedAnnual report
「During the third quarter of the fiscal year under review (1 October 2021 to 30 June 2022), economic activity resumed around the world following the COVID-19 pandemic. However, in addition to surging raw material prices and supply chain disruptions, Russia's invasion of Ukraine further accelerated inflation, increasing uncertainty over the economic outlook.」
Although economic activity was resuming, the report continued to describe an uncertain external environment due to surging raw material prices, supply chain disruptions, Russia's invasion of Ukraine and concerns over accelerating inflation. - FY2022-Q2WorsenedAnnual report
「During the second quarter of the fiscal year under review (1 October 2021 to 31 March 2022), economic activity resumed around the world following the COVID-19 pandemic. However, resource price surges and supply chain disruptions constrained corporate activity, while concerns that Russia's invasion of Ukraine would further accelerate inflation caused uncertainty over the outlook to increase further.」
In addition to surging resource prices and supply chain disruptions, Russia's invasion of Ukraine and concerns over accelerating inflation further increased uncertainty over the outlook. - FY2022-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review (1 October 2021 to 31 December 2021), the global economy showed signs of recovery due to the effects of economic measures in various countries and progress in vaccinations. However, the outlook remained uncertain due to higher resource prices, supply chain disruptions and concerns over the spread of new COVID-19 variants.」
Although signs of an economic recovery were reported, the uncertain external environment continued due to higher resource prices, supply chain disruptions and concerns over the spread of variants. - FY2021RestatedAnnual report
「Going forward, the global economy is expected to recover gradually as COVID-19 vaccinations progress. However, downside risks to the economy remain due to concerns over a renewed spread of infections, higher resource prices and supply chain disruptions, and the outlook is expected to remain uncertain.」
The report continued to describe the coexistence of expectations for recovery from vaccinations and downside risks from a renewed spread of infections, higher resource prices and supply chain disruptions. - FY2021-Q3RestatedAnnual report
「During the third quarter of the fiscal year under review (1 October 2020 to 30 June 2021), the global economy remained in a highly uncertain situation due to COVID-19. Infection rates and economic sentiment improved in Europe and the United States, among other regions, as vaccination rates increased, and the economy is expected to recover toward the second half of the year. However, infections from variants spread in some emerging markets and affected other regions as well. Although global economic growth is expected to accelerate going forward, the outlook remains uncertain, with no clear visibility. In Japan, states of emergency have been declared multiple times, mainly in major metropolitan areas, and a highly uncertain situation is expected to continue, including with respect to the impact on the economy.」
Although improvement and recovery driven by vaccinations were expected, the report noted that the spread of variants, states of emergency in Japan and the uncertain outlook continued. - FY2021-Q2Expectations for recovery coexist with uncertainty from a renewed spread of COVID-19Annual report
「Economic sentiment has improved in some areas as vaccination rates have increased, and the economy is expected to recover toward the second half of the year, aided by the implementation of economic measures, with global economic growth also expected to accelerate. However, a new variant has recently emerged, and the increase in infections remains unchecked, leaving the outlook uncertain, with no clear visibility.」
Although expectations for an economic recovery driven by vaccinations and economic measures were indicated, it was reported that the outlook remained uncertain due to a new variant and the increasing number of infections. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year under review (1 October 2020 to 31 December 2020), restrictions on economic activity were tightened around the world as some countries reinstated lockdowns in response to the spread of COVID-19. Although fiscal stimulus in each country and the wider availability of vaccines are expected to support the global economy toward 2021, recovery varies by region, and the situation remains uncertain, with no clear outlook.」
Compared with the resumption of economic activity and signs of recovery in the previous fiscal year, the report noted the reinstatement of lockdowns in some countries, tighter restrictions on economic activity and regional differences in the recovery, making the uncertain external environment more pronounced. - FY2020Economic activity resumes and signs of recovery emerge, but uncertainty continuesAnnual report
「During the fiscal year under review, the global economy deteriorated rapidly as economic activity contracted around the world due to the spread of COVID-19. Japan's economy was similarly affected, with the declaration of a state of emergency causing consumption and production activity to stagnate and employment conditions and corporate earnings to deteriorate sharply. More recently, economic activity has resumed in Japan and overseas, and exports and production activity have shown signs of recovery. However, economic sentiment remains uncertain, with no clear outlook due to concerns over a renewed spread of COVID-19 and a resurgence of the US-China trade dispute.」
In contrast to the rapid economic deterioration through the previous fiscal year, the report noted the resumption of economic activity and signs of recovery in Japan and overseas, while uncertainty continued due to concerns over a renewed spread of COVID-19 and a resurgence of the US-China trade dispute. - FY2020-Q3WorsenedAnnual report
「During the third quarter of the fiscal year under review (1 October 2019 to 30 June 2020), the global economy deteriorated rapidly as economic activity contracted around the world due to the spread of COVID-19. Japan's economy was similarly affected, with the declaration of a state of emergency causing consumption and production activity to stagnate and employment conditions and corporate earnings to deteriorate sharply.」
In addition to the existing US-China trade dispute and global economic slowdown, it was reported that the spread of COVID-19 rapidly worsened economic activity around the world, domestic consumption and production activity, employment conditions and corporate earnings. - FY2020-Q2WorsenedAnnual report
「During the second quarter of the fiscal year under review (1 October 2019 to 31 March 2020), the global economy experienced a rapid deterioration in economic conditions due to the spread of COVID-19. Restrictions on the movement of people and goods curbed nonessential consumption, while the suspension of economic activity began to have a significant impact on employment and capital investment.」
In addition to the existing US-China trade dispute and global economic slowdown, the report noted the impact of the spread of COVID-19, including restrictions on movement, the suspension of economic activity and effects on capital investment. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the fiscal year under review (the first quarter or the period under review), the global economy remained uncertain due to the continuing US-China trade dispute, the downturn in the European economy caused by weaker external demand, and the slowing trend in emerging-market economies. Japan's economy was also affected by the global economy, and economic sentiment deteriorated among large companies, particularly manufacturers.」
The report noted the continuing US-China trade dispute, the downturn in the European economy, the slowdown in emerging markets, and deteriorating economic sentiment, particularly among domestic manufacturers, and stated that the uncertain business environment continued. - FY2019RestatedAnnual report
「During the fiscal year under review, uncertainty surrounding the global economy increased due to the prolonged US-China trade dispute and concerns over economic slowdowns in China and Europe. Although Japan's economy was supported by solid corporate earnings in the first half, signs of stagnation intensified in the second half, particularly in export-related industries, as the global economy slowed. Accordingly, the business environment surrounding the Company remained uncertain, with no clear outlook.」
It was reported that the uncertain business environment continued against a backdrop of the prolonged US-China trade dispute, concerns over economic slowdowns in China and Europe, and stagnation in the domestic economy. - FY2019-Q3WorsenedAnnual report
「During the third quarter of the fiscal year under review (the third quarter or the period under review), uncertainty surrounding the global economy increased due to the prolonged US-China trade dispute and concerns over economic slowdowns in China and Europe.」
It was reported that uncertainty surrounding the global economy increased further due to the prolonged US-China trade dispute and concerns over economic slowdowns in China and Europe. - FY2019-Q2WorsenedAnnual report
「During the second quarter of the fiscal year under review, the global economy remained in uncertain conditions, with no clear outlook due to the prolonged US-China trade dispute, China's economic slowdown and concerns over the UK's withdrawal from the European Union (EU).」
In addition to the slowdown in overseas economies and trade issues identified from the previous quarter, specific factors creating uncertainty emerged, including the UK's withdrawal from the EU and slowdowns in the US and European economies. The business environment was described as somewhat sluggish. - FY2019-Q1WorsenedAnnual report
「The overseas economy generally remained on a gradual slowing trend, amid uncertain conditions in which the effects of trade issues and the future direction of foreign exchange rates could not be predicted. In emerging markets, the Chinese economy slowed somewhat, mainly due to the US-China trade dispute, while the slowdown in other emerging markets also intensified. Accordingly, although customer demand weakened in some areas, the business environment surrounding the Company generally remained flat.」
In addition to the overall flat conditions described in the previous fiscal year, the report noted a slowdown in the overseas economy, trade issues, uncertainty over the future direction of foreign exchange rates, slowing economies in China and other emerging markets, and some weakening in customer demand. - FY2018Overall flat, with regional differencesAnnual report
「Although demand for the Company's machines suited to the production of high-value-added containers has increased due to changes in customer demand, the business environment surrounding the Company remained generally flat during the fiscal year under review, with regional differences in demand conditions in major markets.」
The description changed from the solid conditions reported through the previous quarter to one stating that demand varied by region in major markets and was generally flat overall. - FY2018-Q3Core small- and medium-sized machines generally performing well, but order acquisition lacks momentumAnnual report
「In each major market, the sales environment for the Company's core small- and medium-sized machines generally remained favorable, and the Company's business environment remained solid. However, the order environment was somewhat lacking in momentum, as it took time to secure customer orders in some markets.」
It was reported that, although the sales environment for small- and medium-sized machines and the overall business environment remained solid, it took time to secure orders in some markets, resulting in a sales environment lacking momentum. - FY2018-Q2Some markets sluggish, overall conditions remain firmAnnual report
「During the second quarter of the fiscal year under review (the second quarter or the period under review), although some of the overseas markets where the Company operates its sales activities were somewhat sluggish, latent customer demand remained solid, and the business environment surrounding the Company remained firm.」
It was reported that, although some markets were somewhat sluggish, latent customer demand remained solid and the overall business environment remained firm. - FY2018-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review (the first quarter or the period under review), although conditions varied by region in the overseas markets where the Company operates its sales activities, overall economic sentiment remained generally favorable, and the business environment surrounding the Group remained firm.」
Although conditions varied by region, overall economic sentiment in overseas markets and the firm business environment were maintained. - FY2017RestatedAnnual report
「In addition to foreign exchange conditions remaining on a weaker-yen trend throughout the period, users' appetite for capital investment continued to progress favorably in major overseas markets, led by the Americas, against a backdrop of favorable market conditions. Demand also increased for the Company's products, which are suited to the production of high-value-added containers, and the business environment for the Company, which operates globally, remained firm.」
While the weaker yen, recovery in overseas markets and firm demand that had continued through the previous quarter were also confirmed for the full fiscal year, intensified competition, foreign exchange fluctuations and concerns about a slowdown in the global economy remained as future risks. - FY2017-Q3RestatedAnnual report
「During the third quarter of the fiscal year under review (the third quarter or the period under review), in addition to foreign exchange conditions remaining on a weaker-yen trend throughout the period, economic conditions in major overseas markets generally continued to recover, although there were regional differences. Demand for the Company's products increased, and the business environment surrounding the Company remained firm.」
As in the previous quarter, the business environment remained firm against a backdrop of the weaker-yen trend and improving economic conditions in major overseas markets. - FY2017-Q2RestatedAnnual report
「In addition to foreign exchange conditions changing during the first half and remaining on a weaker-yen trend throughout the period, users' appetite for capital investment remained firm against a backdrop of the recovering global economy. As a result, the business environment for the Company, which operates primarily in overseas markets, remained favorable.」
As in the previous quarter, favorable business conditions were maintained against a backdrop of a weaker-yen trend, the recovering global economy and firm user appetite for capital investment. - FY2017-Q1MitigatedAnnual report
「User demand remained generally firm in each major market. In addition, from the middle of the period onward, the business environment surrounding the Group remained firm, as foreign exchange conditions shifted toward a weaker yen.」
The environment changed from the challenging external conditions caused by yen appreciation and a slowing global economy identified in the previous fiscal year to an environment in which demand in major markets remained generally firm. - FY2016RestatedAnnual report
「Going forward, the challenging external environment is expected to persist, including a sustained appreciation of the yen, the slowing global economy and competition with other companies.」
It was reiterated that the challenging external environment caused by yen appreciation, the slowing global economy and competition is expected to continue. - FY2016-Q3MaterialisedAnnual report
「From the middle of the period onward, against a backdrop of lower resource prices, political instability, a sharp appreciation of the yen and slower growth in emerging-market economies, users' appetite for capital investment declined in each major market, and the market environment surrounding the Company became challenging.」
It was reported that capital investment appetite in major markets actually declined against a backdrop of multiple external factors.