Yen Appreciation Following the UK’s Withdrawal from the EU
First written in FY2017-Q1. 3 of 5 entries say "Reframed", first in FY2017-Q2. Latest entry: FY2018.
The whole theme swung hardest in 2022: 144 of 176 companies on the "Worse" side.
9 other companies' latest entry also says "Dropped".
- FY2018DroppedAnnual report
「During the current consolidated fiscal year, the US, Europe, China and emerging markets all continued to recover steadily, supported by factors including increased personal consumption.」
This filing’s business overview and business and other risks contain no reference to the UK’s Brexit or the resulting yen appreciation. - FY2017ReframedAnnual report
「Although the economy slowed sharply due to factors including financial-market turmoil following the UK’s Brexit shock, it began to recover gradually in the second half, supported by a recovery in the US economy, including expectations for the new Trump administration, and by various policies supporting China’s economy.」
The description has changed from yen appreciation following the UK’s Brexit to its impact, namely financial-market turmoil caused by the Brexit shock. - FY2017-Q3ReframedAnnual report
「During the cumulative third quarter of the current consolidated fiscal period, the outlook for the economy remained uncertain amid unstable financial-market conditions, including a sharp shift from yen appreciation to yen depreciation following the UK’s Brexit issue and the outcome of the US presidential election.」
The description has changed from yen appreciation following the UK’s Brexit to a reversal from yen appreciation to sharp yen depreciation, triggered in part by the outcome of the US presidential election, and the resulting financial-market instability. - FY2017-Q2ReframedAnnual report
「Japan’s economy improved in terms of corporate performance and employment conditions against the backdrop of economic and monetary policies pursued by the government and the Bank of Japan. However, the yen’s appreciation slowed the growth of corporate earnings, particularly at export-related companies, while personal consumption also remained sluggish.」
The description has expanded from yen appreciation triggered by the UK’s Brexit to its impact, namely that continued yen appreciation led to slower earnings growth at export-related companies. - FY2017-Q1First statedAnnual report
「The yen appreciated sharply following the UK’s 23 June referendum on leaving the EU.」
The company describes the yen’s appreciation triggered by the UK referendum during the quarter as an external business condition.