Uncertainty in Domestic and Overseas Economic and Market Conditions
First written in FY2016-Q2. 15 of 36 entries say "Worsened", first in FY2016-Q3. Latest entry: 2026-09-14.
Tomoe Engineering Co.,Ltd.(Tomoe Kogyo Co.,Ltd.) 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: 131 of 176 companies on the "Worse" side.
58 other companies' latest entry also says "Restated".
- FY2026-H1Sustained Domestic Economic Growth and Additional Middle East Geopolitical RiskAnnual report
「During the interim consolidated fiscal year, the Japanese economy continued to record positive growth from the beginning of the year, supported by growth in exports and solid personal consumption and capital investment. Overseas, the US economy remained solid and Europe remained resilient despite low growth, while China continued to slow. The impact of the situation in the Middle East on the Group’s results for the current fiscal year is currently considered limited, but we will continue to monitor the situation because a prolonged conflict could affect performance.」
The domestic economy improved from negative growth in the previous fiscal year to continued positive growth. The overall picture for the US, Europe and China remained broadly unchanged, while a new concern was identified that a prolonged situation in the Middle East could affect performance, despite the current impact being considered limited. - FY2025RestatedAnnual report
「During the current consolidated fiscal year, the Japanese economy remained in positive growth from the beginning of the year but recently shifted to negative growth, mainly due to declines in housing investment and exports. Overseas, the US economy remained solid and Europe remained resilient despite low growth, while China continued to slow.」
The domestic economy recorded negative growth and China continued to slow, while the US remained solid and Europe remained resilient despite low growth. The structure of economic-environment risks remained broadly unchanged from the previous interim period. - FY2025-H1WorsenedAnnual report
「During the interim consolidated fiscal year, the Japanese economy initially recorded positive growth but recently shifted to negative growth as exports declined and personal consumption remained flat. Overseas, the US economy remained solid but recently slowed, China’s recovery was delayed and Europe continued to record low growth. In addition, uncertainty over the outlook increased due to the impact of US tariff policies.」
The domestic economy recorded negative growth, while the US slowed, China’s recovery was delayed and Europe continued to record low growth. The impact of US tariff policies added to the uncertainty over the outlook. - FY2024-Q2WorsenedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, growth was broadly flat initially but the Japanese economy recently recorded negative growth, driven by sluggish personal consumption and declines in capital investment and exports. Overseas, the US economy remained resilient despite slower growth, China’s recovery was sluggish and Europe continued to record low growth.」
The domestic economy deteriorated from broadly flat growth to negative growth due to sluggish personal consumption and declines in capital investment and exports. Overseas, slower US growth, a sluggish recovery in China and low growth in Europe continued. - FY2024-Q1Domestic economy broadly flat and continued weak overseas conditionsAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy was broadly flat, as capital investment and exports grew but personal consumption remained sluggish. Overseas, the US economy remained solid, while China continued to lack strength and Europe remained stagnant.」
The domestic economy shifted from negative growth in the previous fiscal year to broadly flat growth, with growth in capital investment and exports offset by sluggish personal consumption. Overseas, the US remained solid, while China lacked strength and Europe remained stagnant. - FY2023WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy initially struggled to grow and then recovered temporarily, but recently recorded negative growth against a backdrop of stagnant personal consumption and a decline in capital investment. Overseas, the US economy remained solid, China’s economy remained stagnant and Europe continued to perform poorly.」
The domestic economy shifted from positive growth through the previous quarter to negative growth, while China remained stagnant and Europe continued to perform poorly. The US remained solid. - FY2023-Q3The coexistence of a solid US economy, a slowing recovery in China and a weakening European economyAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the Japanese economy recovered after initially struggling to grow and recently recorded positive growth, supported by export growth despite sluggish personal consumption. Overseas, the US economy remained solid, but China’s recovery was sluggish and Europe continued to slow.」
The domestic economy recorded positive growth supported by exports after recovering, while overseas the US remained solid, China’s recovery slowed and Europe continued to weaken, maintaining the divergence among regions. - FY2023-Q2The coexistence of a slowing US economy, a recovering China and positive domestic growthAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the Japanese economy initially struggled to grow but recently recorded positive growth, supported by personal consumption and capital investment despite exports beginning to decline. Overseas, the US economy remained resilient despite a slower growth rate, the Chinese economy showed signs of recovery, and European growth slowed.」
The domestic economy recorded positive growth driven by personal consumption and capital investment despite declining exports. Overseas conditions diverged by region: US growth slowed but remained resilient, China showed signs of recovery and European growth slowed. - FY2023-Q1The coexistence of positive domestic growth and slowdowns in China and EuropeAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy recorded positive growth, supported by growth in personal consumption and exports despite sluggish capital investment. Overseas, the US economy remained solid, while growth rates in China and Europe slowed.」
The domestic economy shifted from negative growth in the previous fiscal year to positive growth, while growth continued to slow in China and Europe. Domestic improvement coexisted with overseas concerns. - FY2022WorsenedAnnual report
「The Japanese economy was flat after initially getting off to a strong start, then recovered temporarily before recently shifting to negative growth, mainly due to sluggish personal consumption and higher imports. Overseas, the US economy remained resilient despite slowing, China’s economy showed signs of slowing due to the impact of lockdowns, and growth in Europe slowed.」
The domestic economy shifted from positive to negative growth, while overseas the US slowed, China slowed due to lockdowns and European growth decelerated, indicating a deterioration in economic and market-condition risks. - FY2022-Q3The coexistence of positive domestic growth and slowdowns in the US and ChinaAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the Japanese economy was flat after initially getting off to a strong start as a result of the renewed spread of COVID-19, but recently returned to positive growth, mainly due to a recovery in personal consumption and growth in capital investment. Overseas, Europe maintained its recovery trend, while the US economy continued to record negative growth amid tight labor supply and demand, and growth in China slowed.」
The domestic economy shifted from negative growth in the previous quarter to positive growth, while overseas the US recorded negative growth and China’s growth rate slowed. Domestic improvement coexisted with overseas concerns. - FY2022-Q2WorsenedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the Japanese economy initially got off to a strong start but shifted to negative growth due to stalled personal consumption following the renewed spread of COVID-19 from January onward, as well as declines in public and housing investment. Overseas, the US economy remained solid and Europe recovered gradually, while growth in China continued to slow.」
The domestic economy shifted to negative growth due to renewed COVID-19 infections, stalled personal consumption and declines in public and housing investment. The US and Europe showed signs of recovery, while Chinese growth continued to slow, worsening economic-environment risks from the previous quarter. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy recorded positive growth as personal consumption recovered sharply and capital investment and exports also began to increase, although concerns over stagnation due to the rapid spread of the Omicron variant have recently grown. Overseas, the US economy remained strong, while growth rates in China and Europe slowed.」
The domestic economy recorded positive growth, but new concerns emerged over stagnation caused by the rapid spread of the Omicron variant. Overseas, growth slowed in China and Europe, indicating a deterioration in economic and market-condition risks. - FY2021-Q3MitigatedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the Japanese economy got off to a strong start following a rapid recovery from COVID-19, but turned negative early in the year. It recently returned to positive growth, mainly due to growth in personal consumption and capital investment in addition to continued solid exports. Overseas, both the Chinese and US economies remained solid, and the European economy also recorded positive growth recently.」
The domestic economy shifted from negative to positive growth, while China and the US remained solid and Europe also recorded positive growth. Economic-environment risks in Japan and overseas had eased from the previous quarter. - FY2021-Q2WorsenedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the domestic and overseas economies initially got off to a strong start as they rapidly recovered from the effects of COVID-19, but domestic growth recently turned negative, mainly due to declines in personal consumption and capital investment resulting from the effects of the domestic state of emergency, despite continued solid exports. Overseas, the Chinese economy remained strong and the US economy remained firm, while Europe continued to record negative growth.」
After a rapid recovery from COVID-19, the domestic economy turned negative, mainly due to declines in personal consumption and capital investment associated with the state of emergency. China and the US remained solid, while Europe continued to record negative growth, worsening domestic and overseas economic-environment risks from the previous quarter. - FY2021-Q1MitigatedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy continued to recover, as exports rose sharply against a backdrop of continued recovery in overseas economies including China, personal consumption remained solid and capital investment returned to positive growth. The impact of the spread of the novel coronavirus is considered to have gradually diminished. Overseas, the Chinese economy continued to recover and the US economy remained firm, while the European economy shifted to negative growth.」
The domestic economy moved into a recovery phase, supported by exports, personal consumption and capital investment, and the impact of the novel coronavirus was assessed as gradually diminishing. China continued to recover and the US remained firm, while Europe shifted to negative growth. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy initially remained weak, particularly personal consumption, due to the consumption tax increase and subsequently recorded significant negative growth in the second half due to the spread of the novel coronavirus. Personal consumption and exports have recently begun to recover, but have not returned to pre-pandemic levels. Overseas, the Chinese economy recovered gradually and there were signs of recovery in the US and Europe, but the renewed spread of the novel coronavirus in both regions means the situation cannot be viewed optimistically.」
The Japanese economy recorded significant negative growth in the second half due to the spread of the novel coronavirus, while infections also resurged in the US and Europe. Although signs of recovery had emerged, activity had not returned to pre-pandemic levels and economic-environment risks remained severe. - FY2020-Q3WorsenedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, negative growth continued in Japan as personal consumption, capital investment and exports fell sharply due to the spread of the novel coronavirus. Overseas, although there were signs of recovery in China, the US and European economies deteriorated significantly.」
Negative growth continued in Japan due to the impact of the novel coronavirus, while the US and European economies deteriorated significantly. Although China showed signs of recovery, economic and market-condition risks in Japan and overseas had worsened from the previous quarter. - FY2020-Q2MaterialisedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the Japanese economy recorded negative growth as personal consumption, capital investment and exports declined, primarily due to the spread of the novel coronavirus. The global economy also deteriorated rapidly as the virus spread from China to Europe and the US, curbing economic activity.」
The longstanding risk relating to domestic and overseas economic and market conditions is described as having materialized, with the domestic economy recording negative growth due to the spread of the novel coronavirus and the global economy deteriorating rapidly. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy shifted to negative growth against a backdrop of a decline in personal consumption and capital investment following the consumption tax increase, as well as sluggish export growth. Overseas, the US economy remained solid, while Europe remained weak and growth in China continued to slow.」
The domestic economy deteriorated from the gradual recovery described through the previous quarter to negative growth, driven by post-consumption-tax declines in personal consumption and capital investment and sluggish export growth. Europe remained weak and Chinese growth continued to slow. - FY2019-Q3Continued domestic recovery and the addition of deterioration in Japan-South Korea relations as a riskAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the Japanese economy continued to recover gradually, supported by strong demand for personal consumption and capital investment, although exports were weak due to slowing overseas economies such as China and Europe. Overseas, the US economy remained firm, while Europe remained weak and growth in China continued to slow. Going forward, attention is required regarding heightened uncertainty in the global economy due to further escalation of US-China trade friction, the UK's withdrawal from the EU and deterioration in Japan-South Korea relations.」
The domestic economy shifted from the previous quarter’s stagnation to a continued gradual recovery supported by strong personal consumption and capital investment. Overseas, Europe remained weak and Chinese growth continued to slow. In addition to US-China trade friction and the UK's withdrawal from the EU, deterioration in Japan-South Korea relations was identified as a new source of uncertainty. - FY2019-Q2WorsenedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the Japanese economy showed signs of stagnation. Although housing and public investment remained solid, exports declined against a backdrop of slowing overseas economies centered on China, while personal consumption and capital investment also began to fall. Overseas, the US recovery continued, but Europe remained weak and growth in China continued to slow. Going forward, attention is required regarding heightened uncertainty in the global economy due to further escalation of US-China trade friction and the UK's withdrawal from the EU.」
The domestic economy showed signs of stagnation due to lower exports and declines in personal consumption and capital investment. Europe remained weak and Chinese growth continued to slow. Further escalation of US-China trade friction remained a matter requiring attention, deepening external-environment concerns from the previous quarter. - FY2019-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy continued to recover gradually, supported by resilient personal consumption and a continued recovery in capital investment, while exports also began to increase despite a slow recovery. Overseas, the US economy remained solid, but Europe remained weak and emerging-market economies, including China, showed increasingly pronounced signs of slowing. Going forward, attention is required regarding heightened uncertainty in the global economy due to a further escalation of US-China trade friction and the UK's withdrawal from the EU.」
The domestic economy maintained a gradual recovery, while weakness in Europe, increasingly pronounced slowdowns in emerging markets including China, further escalation of US-China trade friction and the UK's withdrawal from the EU were identified, indicating greater external-environment risk. - FY2018WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy continued to recover gradually, although capital investment and exports showed temporary signs of slowing due to natural disasters. Overseas, the US economy remained strong, while signs of a slowdown became more pronounced in Europe and China.」
The domestic economy maintained a gradual recovery, although natural disasters caused a temporary slowdown. Overseas, the slowdown in Europe and China became more pronounced. - FY2018-Q3Domestic recovery and expanding trade risksAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the Japanese economy showed a gradual recovery after having slowed in the second quarter, supported by resilient exports, a recovery in personal consumption and continued solid capital investment. Overseas economies remained generally solid, supported by continued US expansion, a gradual recovery in Europe and resilience in Asian economies, including China, although attention is required regarding higher US tariffs and retaliatory measures by China and the EU, weakness in emerging-market currencies and higher crude oil prices.」
The domestic economy shifted from the previous quarter’s slowdown to a gradual recovery supported by exports, personal consumption and capital investment. Overseas economies remained solid, but higher US tariffs and the ensuing retaliation by China and the EU were explicitly identified, indicating that trade risks had become more concrete and expanded. - FY2018-Q2WorsenedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the Japanese economy was initially solid but has recently shown signs of slowing, as export growth weakened and personal consumption and capital investment declined. Overseas economies remained generally solid, supported by continued US expansion, a gradual recovery in Europe and resilience in Asian economies, including China, although attention is required regarding weakness in emerging-market currencies, higher crude oil prices and US-China trade issues.」
The domestic economy shifted from the recovery and solid performance described through the previous quarter to a slowdown driven by weaker exports and declines in personal consumption and capital investment. Although overseas economies remained solid, weakness in emerging-market currencies, higher crude oil prices and US-China trade issues were newly identified as matters requiring attention. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy continued to recover gradually, supported by strong exports, higher capital investment against a backdrop of improved corporate earnings, and a recovery in personal consumption. Overseas economies also remained generally solid, supported by continued US expansion, a gradual recovery in Europe and resilience in Asian economies, including China.」
The domestic economy continued to recover gradually and overseas economies remained generally solid, effectively maintaining the improvement seen in the previous quarter. - FY2017-Q3RestatedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the Japanese economy continued to recover, supported by growth in personal consumption and capital investment and an upward trend in public investment, although export growth slowed. Overseas economies also remained generally solid, supported by a continued gradual recovery in the US economy and stable performance in China.」
Despite slower export growth, the domestic economy continued to recover and overseas economies were also assessed as generally solid, effectively maintaining the improvement seen in the previous quarter. - FY2017-Q2MitigatedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, the Japanese economy remained on a gradual recovery path, supported by a recovery in personal consumption, continued strong exports, firm capital investment and a shift in inventory investment to an increase. Overseas economies also remained generally solid, supported by continued US expansion, sustained recovery in Europe and resilience in China.」
The description changed from the uncertainty and specific overseas risks identified through the previous quarter to a gradual domestic recovery and generally solid overseas economies. - FY2017-Q1Domestic economic improvement and the crystallization of overseas risksAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy remained on a gradual recovery path, supported by continued export recovery against a backdrop of improving overseas economies and a recovery in capital investment, although the recovery in personal consumption had stalled. Overseas, the outlook remained uncertain, with US protectionist policies, political turmoil in Europe and a slowdown in the Chinese economy posing risks.」
The description of the domestic economy changed from the previous quarter’s “lacking strength” to a gradual recovery, while the specific overseas risks shifted from the UK's withdrawal from the EU to US protectionist policies, political turmoil in Europe and a slowdown in the Chinese economy. - FY2016-Q3WorsenedAnnual report
「During the nine months ended [the relevant period], the Japanese economy remained generally lacking in strength. Personal consumption was firm as employment and income conditions continued to improve, and residential and public investment temporarily boosted growth, but exports fell short of expectations and capital investment remained weak. Overseas, the U.S. economic recovery lacked strength, recovery in emerging economies including China was delayed, and concerns remained that the U.K.’s withdrawal from the EU could weigh on the economy, leaving the outlook uncertain.」
In addition to the lack of strength in the domestic economy and delayed overseas recovery, concerns that the U.K.’s withdrawal from the EU could weigh on the economy were newly identified, broadening the external-environment risks. - FY2016-Q2First statedAnnual report
「Business sentiment and consumer confidence remain weak, affected by unstable share prices and exchange rates. Capital investment and residential investment also lack momentum, while there are concerns that the Kumamoto Earthquake could weigh on the economy. Overseas, the U.S. economic recovery lacks strength, China’s adjustment is prolonged, and recovery in emerging markets and oil-producing countries is also delayed, leaving the outlook uncertain.」
The slowdown in domestic and overseas economies, unstable share prices and exchange rates, and concerns that the Kumamoto Earthquake could weigh on the economy are identified as external-environment risks. No specific measures or targets are presented.