The slowdown in China and emerging economies and the UK's withdrawal from the EU
First written in FY2017-Q1. 17 of 32 entries say "Worsened", first in FY2017-Q3. Latest entry: FY2026-H1.
Anest Iwata 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: 140 of 172 companies on the "Worse" side.
25 other companies' latest entry also says "Other".
- FY2026-H1Resilience Coexisting with Trade Policy UncertaintyAnnual report
「The global economy during the interim consolidated accounting period under review remained firm, supported by the high inflation rates in major economies and reduced concern about prolonged monetary tightening. However, geopolitical risks and uncertainty stemming from U.S. trade policy persisted, particularly restraining capital investment appetite in the manufacturing sector.」
While recognizing the resilience of the major economies, it states that uncertainty stemming from geopolitical risks and U.S. trade policy remains and is restraining capital investment in manufacturing. - FY2025WorsenedAnnual report
「The global economy during the consolidated fiscal year under review showed resilience in employment and personal consumption, particularly in the United States, while recovery varied by region in Europe and China due to high interest rates, a sluggish real estate market and other factors. Overall, the effects of monetary tightening and geopolitical risks continued, and the global economy remained in a gradual recovery as capital investment showed sluggish growth.」
Resilience in the United States coexisted with delayed recovery in Europe and China, and the global economic recovery remained gradual due to high interest rates, geopolitical risks and sluggish capital investment. - FY2025-H1Signs of recovery alongside stagnation in ChinaAnnual report
「The global economy during the interim consolidated accounting period under review showed signs of a gradual recovery as inflation eased and interest rates declined. However, economic sentiment in various countries remained weak due to the prolonged stagnation of the Chinese economy and sluggish growth in manufacturing excluding IT-related industries.」
While recognizing signs of recovery due to easing inflation and lower interest rates, it states that weak economic sentiment has continued due to stagnation in the Chinese economy and sluggish growth in manufacturing excluding IT-related industries. - FY2024WorsenedAnnual report
「The global economy during the consolidated fiscal year under review showed increasing signs of stagnation due to the effects of monetary tightening in Europe and the United States becoming more pronounced and the sluggish Chinese economy.」
It indicates that signs of stagnation in the global economy intensified due to monetary tightening in Europe and the United States and the sluggish Chinese economy. - FY2024-Q3WorsenedAnnual report
「The global economy during the cumulative third quarter under review continued to experience inflation amid increasingly unstable international conditions and the effects of ongoing monetary tightening, while uncertainty over the outlook intensified.」
It states that uncertainty over the outlook for the global economy intensified further due to increasingly unstable international conditions, monetary tightening and the inflationary trend. - FY2024-Q2WorsenedAnnual report
「The global economy during the cumulative second quarter under review showed increasing signs of stagnation due to prolonged global inflation, continued monetary tightening and a slowdown in the Chinese economy.」
It indicates that signs of stagnation in the global economy intensified due to global inflation, monetary tightening and a slowdown in the Chinese economy. - FY2024-Q1WorsenedAnnual report
「The global economy during the cumulative first quarter under review showed increasing signs of stagnation due to persistently high inflation and interest-rate hikes in Europe and the United States, as well as spreading concerns about the financial system.」
It indicates that stagnation in the global economy intensified due to high inflation, interest-rate hikes and spreading concerns about the financial system. - FY2023RestatedAnnual report
「The global economy during the consolidated fiscal year under review showed signs of slowing growth due to the effects of higher interest rates in Europe and the United States, persistently high inflation and activity restrictions in China before its policy shift, despite factors including the suppression of higher energy prices in Europe due to the warm winter and the lifting of China's zero-COVID policy.」
It indicates that signs of slowing growth and uncertainty have continued due to higher interest rates in Europe and the United States, high inflation and activity restrictions in China. - FY2023-Q3WorsenedAnnual report
「The global economy during the cumulative third quarter under review showed increasing signs of stagnation against a backdrop of accelerating global inflation caused by soaring raw-material and resource prices and tight labor supply and demand, as well as continued interest-rate hikes.」
In addition to the previous issue of soaring resource prices, it explicitly identifies stagnation in the global economy against a backdrop of tight labor supply and demand, accelerating global inflation and continued interest-rate hikes. - FY2023-Q2WorsenedAnnual report
「The global economy during the cumulative second quarter under review remained uncertain due to the prolonged conflict in eastern Europe, rising geopolitical risks in regions including East Asia, soaring raw-material and resource prices, and the effects of foreign exchange rates associated with monetary policy in various countries.」
In addition to the existing issues of infectious diseases and component shortages, it explicitly identifies the prolonged conflict in eastern Europe, geopolitical risks, soaring raw-material and resource prices, and foreign-exchange effects associated with monetary policy as sources of uncertainty. - FY2023-Q1WorsenedAnnual report
「Although economic activity continued to normalize, uncertainty over the outlook increased due to expanding shortages of components, including semiconductors, soaring raw-material and resource prices, and logistics disruptions.」
The report identifies component shortages, soaring prices and logistics disruptions as new sources of uncertainty accompanying post-COVID-19 economic normalization. - FY2022-Q3RestatedAnnual report
「The global economy during the cumulative third quarter under review continued to recover as countries eased measures to address the COVID-19 pandemic. Meanwhile, the effects of the spread of variant strains, tight semiconductor supply and demand, soaring raw-material prices and other factors broadened, and conditions remained uncertain.」
While recognizing the economic recovery, it states that uncertainty caused by variant strains, tight semiconductor supply and demand, and soaring raw-material prices has continued. - FY2022-Q2WorsenedAnnual report
「Meanwhile, the pace of recovery slowed due to the effects of tighter pandemic-control measures amid the global spread of variant strains, soaring raw-material prices and tight semiconductor supply and demand.」
It recognizes the recovery driven by vaccinations and the easing of restrictions, while stating that the pace of the global economic recovery slowed due to variant strains, soaring raw-material prices and tight semiconductor supply and demand. - FY2022-Q1Broad-based recovery, emerging-market delaysAnnual report
「The global economy during the cumulative first quarter under review continued to be affected by the COVID-19 pandemic, as in the previous consolidated fiscal year. However, vaccination progressed in countries including China and the United States, and consumption recovered, resulting in an overall recovery trend, although the extent varied by country. Meanwhile, economic recovery in emerging markets such as India and Brazil and in ASEAN countries was delayed by the resurgence of infections and other factors, and conditions remained uncertain.」
While the global economy overall shifted toward recovery, led by China and the United States, delays in the recovery and continued uncertainty caused by resurgent infections persisted in India, Brazil and ASEAN. - FY2021Recovery Continues, with Regional DifferencesAnnual report
「During the consolidated fiscal year, economic recovery from COVID-19 varied by region. The US and China saw a recovery led mainly by manufacturing, while Europe implemented lockdown measures as infections spread again. The outlook therefore remained uncertain.」
A recovery in China and the United States coincided with lockdowns in Europe, and a recovery marked by regional disparities and continued uncertainty over the outlook persisted. - FY2021-Q3A Shift Toward Recovery Coexisting with UncertaintyAnnual report
「During the nine-month consolidated cumulative period, the global economy continued to be affected by COVID-19, but shifted to a gradual recovery trend, although the pace varied by country and region, with China recovering rapidly. However, the outlook remained uncertain because of concerns about the continuing spread of COVID-19. In Japan, business sentiment improved as production and exports, particularly in the automotive sector, recovered, but the recovery lacked strength because of the renewed spread of infections.」
While recognizing a shift toward recovery in China and elsewhere, the company indicated that uncertainty continued because recovery speeds differed by region, infections were spreading again, and Japan's recovery lacked strength. - FY2021-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, the global economy was heavily affected by the spread of COVID-19. Although business sentiment in China began to improve, economic activity in Asia, Europe and the US was heavily restricted, causing a significant slowdown. Companies also postponed or reduced capital investment because of declining earnings and preparations for a renewed spread of infections, and the outlook remained uncertain.」
COVID-19 caused a significant slowdown in the Asian, European and US economies, while the company explicitly noted the postponement or reduction of capital investment and concerns about a renewed spread of infections. - FY2021-Q1MaterialisedAnnual report
「During the three-month consolidated cumulative period, the global economy was significantly affected as the rapid spread of COVID-19 led to requests for business closures and calls for people to refrain from going out worldwide, substantially restricting economic and social activity. Japan's economy was similarly affected, including by the declaration of a state of emergency, and the outlook remained uncertain.」
In addition to the previously noted economic slowdown and trade issues, requests for business closures, calls for people to refrain from going out and the declaration of a state of emergency resulting from COVID-19 actually occurred, making their impact on the global and domestic economies apparent. - FY2020-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, the global economy continued to face an uncertain outlook because of concerns including the prolonged US-China trade dispute and global geopolitical risks. In Japan, in addition to the global economic slowdown, a decline in consumption following the consumption tax increase and natural disasters contributed to the weakness in manufacturing, particularly automotive manufacturing.」
In addition to US-China trade tensions and geopolitical risks, the consumption tax increase, natural disasters and weakness in manufacturing were identified, indicating that sources of uncertainty for the global and domestic economies were continuing and expanding. - FY2020-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, the outlook for the global economy remained uncertain because of factors including US-China trade tensions and Brexit, and signs of an economic slowdown intensified. Japan's economy entered a gradual recovery trend on improved employment conditions and a recovery in personal consumption, but rising uncertainty overseas led to increasingly cautious views on capital investment in the manufacturing sector.」
Signs of an economic slowdown intensified against the backdrop of US-China trade tensions and Brexit, and overseas uncertainty spread to more cautious capital investment by manufacturers. - FY2020-Q1WorsenedAnnual report
「During the three-month consolidated cumulative period, the impact of the prolonged US-China trade tensions spread to other countries. Concerns extended beyond signs of a slowdown in China's economy to their impact on the European and US economies, and uncertainty continued. Japan's economy was also affected to some extent. Although stable employment conditions and consumer trends continued, capital investment lacked strength, leaving the outlook uncertain as well.」
The impact of US-China trade tensions spread beyond China, with uncertainty extending to their effects on the US and European economies and weakness in capital investment in Japan. - FY2019WorsenedAnnual report
「Looking ahead, although the global economy remains on a gradual recovery trend, uncertainty persists because of geopolitical risks and other factors, including US-China trade tensions and the resulting economic slowdown in various countries, Brexit and political instability in Europe.」
While recognizing the global economy's recovery trend, the company explicitly identified US-China trade tensions, economic slowdowns in various countries, Brexit and political instability in Europe as sources of uncertainty. - FY2019-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, the global economy generally remained solid, led by the US. However, uncertainty continued because of US-China trade tensions and political instability in Europe.」
The company noted that, while the global economy remained solid, uncertainty caused by US-China trade tensions and political instability in Europe continued. - FY2019-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, the global economy continued on a relatively gradual recovery trend. However, potential risks, including a slowdown in China's economy due to US-China trade tensions and weakness in emerging-market currencies, remained, leaving the outlook uncertain.」
While recognizing the global economy's recovery trend, the company explicitly identified a slowdown in China's economy stemming from US-China trade tensions and weakness in emerging-market currencies as new potential risks, and indicated that the outlook remained uncertain. - FY2019-Q1MitigatedAnnual report
「During the three-month consolidated cumulative period, concerns arose about the impact of protectionist trends on trade and emerging-market currencies. However, the global economy remained solid as employment conditions and personal consumption continued to recover in the US and Europe, while stable growth was seen in Asia, led by China and India.」
While concerns arose about protectionism and its impact on emerging-market currencies, the global economy was recognized as solid, supported by employment and personal consumption in the US and Europe and growth in Asia, including China and India. - FY2018-Q3MitigatedAnnual report
「During the nine-month consolidated cumulative period, the global economy generally continued on a gradual recovery trend. Employment conditions and capital investment remained solid in the US, while economic expansion continued in Europe and in China and emerging markets, where personal consumption was showing signs of recovery.」
The company indicated that the global economy, including the US, Europe, China and emerging markets, continued on a recovery trend. - FY2018-Q2MitigatedAnnual report
「During the six-month consolidated cumulative period, the global economy continued to recover despite lingering uncertainty over US policy trends and the situation on the Korean Peninsula. Employment conditions improved and capital investment showed signs of recovery in the US and Europe, while China's economy remained generally resilient despite efforts to control overheating. The recovery trend continued, including in emerging markets.」
While uncertainty over US policy and the situation on the Korean Peninsula remained, the global economy, including the US, Europe, China and emerging markets, was recognized as continuing its recovery trend. - FY2018-Q1MitigatedAnnual report
「Overseas, concerns about geopolitical risks continued, but economies generally entered a recovery trend, with the US and European economies remaining solid and China showing a recovery in infrastructure investment.」
While concerns about geopolitical risks remained, overseas economies, including China, were generally recognized as being on a recovery trend. - FY2017MitigatedAnnual report
「During the consolidated fiscal year, concerns remained about the UK's Brexit issue and uncertainty associated with the US presidential election. However, the US and European economies remained solid, Japan's economy entered a gradual recovery trend, and the slowdown in China was brought to a halt, leading to an overall improvement.」
Although concerns remained about Brexit and the slowdown in the Chinese economy, the solid US, European and Japanese economies and the halt in China's slowdown led to an improvement in the assessment of economic conditions for the year. - FY2017-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, the global economy remained uncertain because of destabilizing factors arising from the UK's decision to leave the EU, concerns about deflation in Europe, the slowdown in China and stagnation in emerging-market economies, as well as foreign-exchange and equity-market volatility and political instability following last year's US presidential election. In Japan, the prolonged weakness in personal consumption and the lack of strength in corporate capital investment, together with the impact of an unexpected trend toward yen appreciation that increased the downside risk to corporate earnings, caused the economic outlook to be revised downward from a gradual recovery to a stalled position, resulting in a lack of momentum.」
In addition to the slowdown in China and emerging markets and the UK's Brexit issue, uncertainty widened to include deflation in Europe, market volatility following the US presidential election, and weak domestic consumption and capital investment. The assessment of Japan's economy was revised downward from a recovery trend to a stalled position. - FY2017-Q2RestatedAnnual report
「Overseas, the outlook remained uncertain because, while the US economy remained solid, some emerging markets, including China, showed signs of stagnation and political instability.」
The company described stagnation in China and emerging markets and political instability as continuing risks in the overseas business environment. - FY2017-Q1First statedAnnual report
「The situation remained unpredictable, amid signs of economic slowdown in China and some emerging markets, as well as the UK's Brexit issue.」
The company described the economic slowdown in China and emerging markets and the UK's Brexit issue as sources of uncertainty surrounding its overseas business.