External environment risks, including emerging-market economic slowdown and foreign-exchange fluctuations
First written in FY2016. 22 of 34 entries say "Worsened", first in FY2018. Latest entry: 2026-08-03.
The whole theme swung hardest in 2022: 130 of 170 companies on the "Worse" side.
- 2026-08-03RestatedEarnings
「足元では一部地域において緊張緩和への動きもみられるものの、中東情勢をはじめとする地政学リスクの動向や、物流網及びエネルギー価格への影響については依然として不確実性が残る状況にあります。」
一部地域の緊張緩和に触れつつ、地政学リスク、物流網、エネルギー価格への不確実性を継続して記載している。 - FY2026RestatedAnnual report
「During the consolidated fiscal year, the global economy showed signs of recovery in some areas as inflation eased. However, uncertainty over trade policies and tariff measures, along with the impact of the slowdown in the Chinese economy and geopolitical risks, meant that the outlook remained uncertain.」
While there were signs of a partial recovery and easing inflation, uncertainty arising from trade policies and tariff measures, the slowdown in the Chinese economy, and geopolitical risks persisted. - FY2026-H1Partial easing of tariff uncertainty alongside continued uncertainty in the trade environmentAnnual report
「During the current interim consolidated accounting period, uncertainty in the trade environment, including US-China relations, continued to spread globally, although uncertainty over US tariff policy eased somewhat. As a result, economic conditions remained unstable.」
Uncertainty surrounding U.S. tariff policy has eased somewhat, but uncertainty in the trade environment, including U.S.-China relations, and economic instability persist. Mitigating factors and residual risks relating to external-environment risks were presented together. - FY2025WorsenedAnnual report
「During the current consolidated fiscal year, the global economy experienced a further increase in uncertainty about the economic outlook due to heightened geopolitical risks and the continued monetary tightening policies adopted by major countries to curb inflation. Slower growth in China and instability in the real estate market also delayed the recovery of the global economy. In addition, changes in US tariff policy could affect the Group’s global business operations.」
In addition to the existing risks involving geopolitics, the Chinese economy and resource prices, changes in US tariff policy, instability in China’s real estate market and continued monetary tightening were indicated, broadening the scope of external environmental risks. - FY2025-H1WorsenedAnnual report
「In addition to the worsening regional conflicts in Ukraine and the Middle East, stagnation in the Chinese economy and the expansion of protectionist policies, uncertainty continues in the global economy. Global automotive production and sales volumes both declined year on year.」
In addition to the longstanding situation in Ukraine and the slowdown in the Chinese economy, the worsening regional conflicts in the Middle East and the expansion of protectionist policies were explicitly identified. Global automotive production and sales volumes also declined year on year, giving greater specificity to external environmental risks. - FY2024-Q3WorsenedAnnual report
「Meanwhile, uncertainty continues in the global economy, including persistently high raw-material and energy prices due to the prolonged situation in Ukraine and a weaker yen, as well as an economic slowdown in China.」
In addition to the longstanding situation in Ukraine, soaring raw-material and energy prices and the slowdown in the Chinese economy, persistently high prices resulting from a weaker yen were explicitly identified. External environmental risks for the global economy continue, with the factors becoming more specific. - FY2024-Q2WorsenedAnnual report
「Meanwhile, uncertainty continues in the global economy, including soaring raw-material prices against the backdrop of the situation in Ukraine and other factors, and an economic slowdown in China.」
In addition to the longstanding issue of soaring raw-material prices, an economic slowdown in China was explicitly identified, showing that external environmental risks for the global economy are continuing and becoming more specific. - FY2024-Q1RestatedAnnual report
「Meanwhile, uncertainty continues in the global economy, including soaring raw-material prices against the backdrop of the situation in Ukraine and other factors, as well as sharp foreign exchange movements.」
Soaring raw-material prices against the backdrop of the situation in Ukraine, sharp foreign exchange movements and uncertainty about the outlook for the global economy continue to be indicated. There has been no significant change in external environmental risks from the previous fiscal year. - FY2023WorsenedAnnual report
「Although the COVID-19 pandemic has begun to ease, the destabilization of the international situation, including the situation in Ukraine, and the effects of soaring raw-material and resource prices have become pronounced, and the global economy remains uncertain.」
While the impact of the pandemic has begun to ease, the destabilization of the international situation and pronounced increases in raw-material and resource prices were identified as significant factors, showing that external environmental risks are continuing and becoming more specific. - FY2023-Q3WorsenedAnnual report
「Soaring raw-material and energy prices associated with the situation in Ukraine and other factors continue, and uncertainty about the outlook for the global economy also persists.」
Soaring raw-material and energy prices associated with the situation in Ukraine and other factors continue, as does uncertainty about the outlook for the global economy. External environmental risks are continuing and becoming more specific. - FY2023-Q1WorsenedAnnual report
「In addition to continued instability in the international situation resulting from the situation in Ukraine, the global economy remains uncertain due to soaring raw-material prices and sharp foreign exchange movements.」
External environmental risks are described as including the destabilization of the international situation resulting from the situation in Ukraine, soaring raw-material prices and sharp foreign exchange movements, while uncertainty about the outlook continues. - FY2022WorsenedAnnual report
「The COVID-19 pandemic, which spread around the world, has become protracted, including with the emergence of new variants, and there is still no clear prospect of when it will be brought under control. In addition, the global economy remains uncertain due to the destabilization of the international situation, including the situation in Ukraine.」
In addition to the existing risks from the pandemic and market slowdown, new variants and the destabilization of the international situation, including the situation in Ukraine, were explicitly identified, broadening the scope of external environmental risks. - FY2022-Q3WorsenedAnnual report
「New variants of COVID-19 are spreading in regions around the world, and uncertainty about the outlook continues.」
The spread of new COVID-19 variants in regions around the world was explicitly identified, and uncertainty about the outlook continues. External environmental risks now include a new factor. - FY2022-Q2WorsenedAnnual report
「Regarding the impact of the spread of COVID-19 on the business, production has stagnated due to parts supply problems in the ASEAN region and the impact of semiconductor shortages. In addition, the outlook remains uncertain because there is no clear prospect of the pandemic being brought under control.」
It was noted that, as external environmental risks, parts supply problems in ASEAN and semiconductor shortages have actually caused production to stagnate, and there is still no clear prospect of the pandemic being brought under control. - FY2022-Q1WorsenedAnnual report
「Global automotive sales volumes in North America, Europe and ASEAN have been trending higher year on year. Meanwhile, China, which recovered earliest from the spread of COVID-19, began to be affected by semiconductor shortages in the first quarter, and sales there have continued to trend below the prior-year month. As described above, the outlook remains uncertain because COVID-19 has not yet been brought under control and semiconductor shortages are also having an impact.」
Sales were shown to be trending higher in North America, Europe and ASEAN, while China continued to trend below the prior-year month due to semiconductor shortages. The failure to bring the pandemic under control and the semiconductor shortage have become additional, specific external environmental risks. - FY2021-Q3WorsenedAnnual report
「In addition to lockdowns implemented in Europe due to the spread of COVID-19, the renewed spread of infections has begun to affect Japan, and uncertainty about the outlook for the global economy continues.」
The impact of lockdowns in Europe and the renewed spread of infections in Japan was indicated, and uncertainty about the outlook for the global economy continues. External environmental risks are continuing and becoming more specific. - FY2021-Q2WorsenedAnnual report
「Although COVID-19 has not yet been brought under control, the outlook for the global economy remains uncertain.」
COVID-19 has not been brought under control, and uncertainty about the outlook for the global economy continues. In addition to the previous market weakness and external environmental risks, the impact of the pandemic continues. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese automotive industry, a major customer industry for the Group, stagnated significantly as it was affected by the economic deterioration resulting from emergency measures taken worldwide to prevent the spread of COVID-19. In addition, the continued spread of COVID-19 is adversely affecting the global economy, leaving the outlook uncertain.」
The economic deterioration caused by measures to prevent the spread of COVID-19 and the adverse impact on the global economy continued, and the Japanese automotive industry stagnated significantly. External environmental risks have worsened further. - FY2020MaterialisedAnnual report
「Since the beginning of 2020, the global spread of COVID-19 has had a significant impact on the automotive industry, with some plants operated by automakers in various countries partially suspending operations, and uncertainty about the outlook continues.」
In addition to the longstanding risks of US-China trade friction and slower Chinese and emerging-market economies, the global spread of COVID-19 and partial plant shutdowns by automakers occurred, giving greater specificity to external environmental risks. - FY2020-Q3WorsenedAnnual report
「Meanwhile, uncertainty continues in the global economy, including US-China trade friction and rising geopolitical risks, and these factors are affecting the automotive industry.」
In addition to the longstanding US-China trade friction, rising geopolitical risks were explicitly identified, and uncertainty about the outlook for the global economy continues. The impact on the automotive industry was also noted, indicating that external environmental risks are expanding. - FY2020-Q2WorsenedAnnual report
「During the six-month period ended the second quarter, domestic sales by the Japanese automotive industry, a major customer industry of the Group, increased year on year, while the North American market remained at the same level as the previous year. However, the global automotive market remained sluggish, owing in part to weak sales in major Asian markets such as China and India. Although domestic vehicle production by Japanese automakers increased from the previous year, overseas production has continued to trend below the prior-year level.」
Weak sales in major Asian markets such as China and India, sluggishness in the global automotive market and a declining trend in overseas production volumes were noted, giving greater specificity to external environmental risks. - FY2020-Q1WorsenedAnnual report
「In the Japanese automotive industry, which is a major customer industry for our Group, domestic unit sales increased year on year, but sales declined in the major Chinese, U.S. and European markets, and the impact of the weakening global market has begun to emerge. With respect to automobile production by Japanese automakers, domestic production increased, but overseas production stagnated, leaving global production volumes roughly at the previous year's level.」
Declining sales in the major Chinese, US and European markets and stagnation in overseas production were indicated, giving greater specificity to the external environmental risk of a weakening global market trend. - FY2019WorsenedAnnual report
「The global economy has become uncertain due to the impact of US-China trade friction and other factors, raising concerns that this could affect the automotive industry.」
In addition to the year-on-year decline in the Chinese market and stagnation in the global automotive market, uncertainty about the outlook for the global economy due to US-China trade friction and other factors was indicated, showing the continuing and increasingly specific nature of external environmental risks. - FY2019-Q3WorsenedAnnual report
「In the Chinese market, a slowdown became more apparent, with 2018 sales volumes declining from 2017. In addition, US-China trade friction is expected to affect the global economy, leaving the outlook uncertain.」
The decline in sales volumes in China made the slowdown more apparent, and the impact of US-China trade friction on the global economy and uncertainty about the outlook were also indicated. External environmental risks, including emerging markets and foreign exchange, have become more specific. - FY2019-Q2WorsenedAnnual report
「In Asia, strong conditions have continued in the ASEAN and Indian markets, but signs of a slowdown have emerged, including a year-on-year decline in sales in China. In addition, uncertainty about the outlook for the global economy continues, including the impact of US-China trade friction.」
In addition to signs of a slowdown in the Chinese market, uncertainty about the outlook for the global economy due to the impact of US-China trade friction was indicated, giving greater specificity to external environmental risks. - FY2019-Q1WorsenedAnnual report
「Meanwhile, uncertainty continues in the global economy, including the impact of trade friction resulting from US protectionism.」
In addition to previously identified uncertainties involving global political conditions and foreign exchange rates, trade friction resulting from US protectionism was explicitly identified, giving greater specificity to the global economy’s external environmental risks. - FY2018WorsenedAnnual report
「During the current consolidated fiscal year, the growth rate of the Japanese automotive industry slowed, but vehicle sales in North America and China remained at high levels, while the Japanese market also remained firm, supported in part by a recovery in kei-car sales. Meanwhile, the global political situation and foreign exchange conditions, which have been trending toward a stronger yen, remain difficult to predict.」
In addition to the traditional risks of slower emerging-market economies and foreign exchange volatility, the global political situation and the trend toward a stronger yen were explicitly identified as factors creating uncertainty. - FY2018-Q2RestatedAnnual report
「Meanwhile, the situation remains uncertain, including a slowdown in emerging-market economies and political conditions in Europe and the United States, and could affect Japanese automakers.」
In addition to the slowdown in emerging-market economies, political conditions in Europe and the United States are cited as uncertainties, and the potential impact on Japanese automakers continues to be indicated. - FY2018-Q1RestatedAnnual report
「Meanwhile, the global economy remains in a situation involving concerns such as an economic slowdown in China and emerging markets.」
Although some segments of the automotive market are recovering, concerns about the external environment, including economic slowdowns in China and emerging markets, continue to be noted. - FY2017RestatedAnnual report
「Although the Japanese automotive industry, which is a major customer industry for our Group, was affected by stagnation in the ASEAN market, global production increased as unit sales remained high in the North American and Chinese markets and the domestic market also performed steadily.」
The external environmental risk posed by stagnation in the ASEAN market continues, while strength in the North American, Chinese and Japanese markets and foreign exchange gains in the second half are also noted, with the effects differing by region and period. - FY2017-Q3MaterialisedAnnual report
「In the third quarter, economic conditions changed, including sharp movements in foreign exchange rates, and the future international political and economic environment could affect developments in the automotive industry.」
Sharp foreign exchange movements and uncertainty in the international political and economic environment continue to affect the business environment. - FY2017-Q2MaterialisedAnnual report
「Sales in Japan, where weak kei-car sales have continued, and in the ASEAN market remained at low levels.」
Weakness continued in the Japanese and ASEAN markets, and a foreign exchange loss of ¥59.15 million was also recorded in the six months ended the second quarter of the current consolidated fiscal year. External environmental risks, including foreign exchange volatility and emerging-market economies, are reflected in the results. - FY2017-Q1MaterialisedAnnual report
「In addition, concerns have emerged amid changes in the economic environment, including foreign exchange volatility and a slowdown in emerging-market economies.」
Foreign exchange volatility and the slowdown in emerging-market economies continue to be cited as concerns, and a foreign exchange loss of ¥43.95 million was also recorded in the quarter. - FY2016First statedAnnual report
「In Japan, where weak sales of kei cars have continued, production volumes have remained on a declining trend. In addition, uncertainties that could affect business performance have emerged, including a slowdown in emerging-market economies and foreign exchange volatility.」
In addition to the declining production trend in Japan’s kei-car market, the slowdown in emerging-market economies and foreign exchange volatility are identified as uncertainties that could affect business performance.