Economic Uncertainty Due to Russia's Invasion of Ukraine and Surge in Crude Oil and Raw Material Prices
First written in FY2022. 10 of 15 entries say "Worsened", first in FY2023-Q1. Latest entry: 2026-08-07.
Seiko 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: 45 of 80 companies on the "Worse" side.
49 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Looking ahead, uncertainty surrounding U.S. trade policy is casting a shadow over international trade and reducing the predictability of corporate activity. In addition, global downside risks, including geopolitical tensions and persistently high energy and raw material prices, remain, and the uncertain situation continues.」
Regarding external environmental risks, U.S. trade policy, geopolitical tensions, and persistently high energy and raw material prices continue to be identified as factors reducing the predictability of corporate activity. - 2026-05-14WorsenedRevision of earnings forecasts
「The situation remains unpredictable, with developments in US trade policy and disruptions in energy markets caused by the situation in the Middle East, and we expect the uncertain operating environment to continue.」
US trade policy and disruptions in energy markets caused by the situation in the Middle East are identified as continuing concerns in the external environment. - FY2026-H1WorsenedAnnual report
「Looking ahead, uncertainty surrounding U.S. trade policy is casting a shadow over international trade and reducing the predictability of corporate activity. In addition, global downside risks, including geopolitical tensions and persistently high energy and raw material prices, remain, and the uncertain situation continues.」
Regarding external environmental risks, uncertainty over U.S. trade policy, geopolitical tensions, and persistently high energy and raw material prices continue to be identified and specified as factors reducing the predictability of corporate activity. - FY2025WorsenedAnnual report
「In the next fiscal year, a certain recovery in demand is expected from the continued recovery in production in the industries of major customers and ongoing labor-saving investment, despite the effects of fluctuations in domestic and overseas prices and foreign exchange rates and geopolitical risks, against a backdrop of developments in U.S. trade policy, weakness in China's real estate market, and energy and inflation issues in Europe. However, as companies remain cautious in making capital investment decisions, the company expects the highly uncertain business environment to continue.」
External environmental risks have been specified as U.S. trade policy, weakness in China's real estate market, energy and inflation issues in Europe, fluctuations in prices and foreign exchange rates, and geopolitical risks, and the company states that the highly uncertain environment will continue. - FY2024WorsenedAnnual report
「During the current fiscal year, Japan's economy followed a gradual recovery trend as employment and income conditions improved and personal consumption and inbound demand recovered. Meanwhile, concerns remained over inflation caused by the sharp depreciation of the yen, the effects of political instability in Ukraine and Palestine, and downside risks in overseas economies, including slowing economies in China and the EU, with uncertainty continuing.」
In addition to the situation in Ukraine, the situation in Palestine, the sharp depreciation of the yen, inflation and a slowdown in the Chinese and EU economies are cited as concerns in the external environment. - FY2024-Q3WorsenedAnnual report
「Meanwhile, rising interest rates, developments in the Middle East, and a downturn in the Chinese economy pose downside risks to Japan's economy, while concerns remain over the effects of inflation and volatility in financial and capital markets.」
In addition to the situation in Ukraine and soaring raw material prices, the situation in the Middle East, rising interest rates, a downturn in the Chinese economy, inflation and financial market volatility are cited as factors putting downward pressure on the economy. - FY2024-Q2WorsenedAnnual report
「Meanwhile, rising interest rates, increasing geopolitical risks, and a downturn in the Chinese economy pose downside risks to Japan's economy, while concerns remain over the effects of inflation and volatility in financial and capital markets.」
Geopolitical risks, including the situation in Ukraine, rising interest rates, a downturn in the Chinese economy, inflation and financial market volatility continue to be identified and specified as factors putting downward pressure on the economy. - FY2024-Q1RestatedAnnual report
「Meanwhile, continued global monetary tightening and the situation in Ukraine, together with a downturn in overseas economies, pose risks of putting downward pressure on the Japanese economy.」
Global monetary tightening, the situation in Ukraine and a downturn in overseas economies continue to be cited as external risks putting downward pressure on the domestic economy. - FY2023MaterialisedAnnual report
「On the earnings front, in addition to lower revenue from the cold forging business, higher raw material and energy costs caused ordinary income to decline 2.9% year on year to ¥675 million, while net income attributable to owners of the parent declined 55.9% year on year to ¥331 million.」
Higher raw material and energy costs actually occurred and, together with lower revenue from the cold forging business, led to a 2.9% decline in ordinary income and a 55.9% decline in net income. - FY2023-Q3MaterialisedAnnual report
「On the earnings front, in addition to lower revenue from the cold forging business, higher raw material and energy costs caused ordinary income to decline 16.7% year on year to ¥320 million.」
Higher raw material and energy costs actually occurred and, together with lower revenue from the cold forging business, led to a 16.7% year-on-year decline in ordinary income. - FY2023-Q2MaterialisedAnnual report
「Due to a time lag between the increase in costs resulting from soaring energy and raw material prices and the pass-through to selling prices, ordinary income declined 22.4% year on year to ¥233 million.」
The increase in costs resulting from soaring raw material and energy prices and the delay in passing these costs through to selling prices actually occurred, putting pressure on earnings and contributing to a 22.4% year-on-year decline in ordinary income. - FY2023-Q1WorsenedAnnual report
「The economic outlook remains uncertain due to the renewed spread of infections caused by new variants, soaring raw material prices resulting from changes in the global situation, and the rapid depreciation of the yen.」
In addition to Russia's invasion of Ukraine and soaring crude oil and raw material prices, new variants, changes in the global situation and the rapid depreciation of the yen are cited as factors contributing to economic uncertainty. - FY2022First statedAnnual report
「Regarding the outlook for the Japanese economy, a gradual recovery is expected as measures against COVID-19, including vaccination, progress. However, the outlook is expected to remain uncertain due to the effects of Russia's invasion of Ukraine and soaring crude oil and raw material prices.」
Russia's invasion of Ukraine and soaring crude oil and raw material prices were identified for the first time as a standalone theme and as factors contributing to uncertainty over the outlook for the Japanese economy and the business environment.