Economic Slowdown and Economic Uncertainty in Europe, China and Emerging Markets
First written in FY2017-Q1. 16 of 34 entries say "Worsened", first in FY2019-Q2. Latest entry: FY2026.
Ntn 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: 34 of 41 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Overseas, although some weakness was evident in the US economy, economic growth continued at a moderate pace. While China's economic growth was slowing gradually, other Asian emerging-market economies showed signs of recovery and growth. The European economy showed signs of recovery in the euro area.」
While China's slowdown continued, the United States expanded gradually, Asian emerging markets recovered and expanded, and Europe showed signs of recovery, indicating some improvement from the weakness reported in the previous period. - FY2026-H1WorsenedAnnual report
「Overseas, although economic growth in the United States was slowing, uncertainty emerged due to front-loaded demand and its subsequent reversal associated with higher tariff rates, among other factors. In China, economic conditions remained flat despite the effects of various policies, while other Asian emerging-market economies showed signs of weakness. Parts of the European economy, including Germany, stalled, and the recovery slowed.」
The slowdown in US economic growth and uncertainty associated with higher tariff rates, the flat Chinese economy, weakness in Asian emerging markets and stagnation in Europe were reported, indicating growing concerns about overseas economic conditions. - FY2025-H1MitigatedAnnual report
「Overseas, although concerns remained about the impact of a halt in the decline in inflation on the US economy, economic conditions expanded. In the Chinese economy, supply increased due to the effects of various policies, while economic conditions stalled, and other Asian emerging-market economies recovered gradually. Although some parts of the European economy stalled, signs of recovery emerged.」
While the Chinese economy continued to stall, the US economy expanded, other Asian emerging markets recovered gradually and Europe showed signs of recovery, indicating some improvement from the weakness reported previously. - FY2024-Q3WorsenedAnnual report
「During the nine-month period of the current third quarter of the consolidated fiscal year (1 April 2023 to 31 December 2023), the global economy continued to recover, but remained uncertain amid the situations in Ukraine and the Middle East, the situation in the energy market, rising prices and global monetary tightening, among other factors. Overseas, although concerns remained about the impact of monetary tightening and inflation on the US economy, economic conditions were recovering. The Chinese economy's recovery stalled due to the impact of the stagnation in the real estate market, among other factors, while other Asian emerging-market economies continued to recover gradually. The European economy remained weak due to the situation in the energy market and monetary tightening, among other factors.」
Amid continuing uncertainty about the global economy, the situation in the Middle East was newly identified, the Chinese economy's recovery stalled and the European economy weakened. - FY2024-Q2WorsenedAnnual report
「The Chinese economy's recovery stalled due to the impact of the stagnation in the real estate market, among other factors, while other Asian emerging-market economies continued to recover gradually. The European economy remained stagnant due to the situations in the energy market and monetary tightening, among other factors.」
Recovery continued in the United States and other emerging markets, while the Chinese economy's recovery stalled due to the stagnation in the real estate market, and the European economy also remained stagnant due to the situations in the energy market and monetary tightening. - FY2024-Q1WorsenedAnnual report
「Overseas, the US, Chinese and other Asian emerging-market economies continued to show signs of gradual recovery, while the European economy remained stagnant due to the situations in the energy market and monetary tightening, among other factors. Meanwhile, the global economy has remained uncertain amid the worldwide semiconductor shortage, supply chain disruptions, the situations in Ukraine and the energy market, rising prices and global monetary tightening, among other factors.」
Gradual recovery continued in the United States, China and other emerging markets, while the European economy stalled due to the situations in the energy market and the impact of monetary tightening, and uncertainty about the global economy continued. - FY2023RestatedAnnual report
「Meanwhile, the global economy remained uncertain amid the worldwide semiconductor shortage, supply chain disruptions, the situations in Ukraine and the energy market, rising prices and global monetary tightening, among other factors.」
Recovery continued in the United States, Europe and other emerging markets, while uncertainty due to weakness in the Chinese economy, the semiconductor shortage, supply chain disruptions, the situations in Ukraine and the energy market, rising prices and monetary tightening continued to be reported. - FY2023-Q3WorsenedAnnual report
「Overseas, the US, European and other Asian emerging-market economies continued to show signs of recovery, while the Chinese economy stalled in its recovery due to the renewed spread of COVID-19 infections. Meanwhile, the global economy remained uncertain amid the worldwide semiconductor shortage, supply chain disruptions, the situations in Ukraine and the energy market, and global monetary tightening, among other factors.」
Recovery continued in the United States, Europe and other emerging markets, while the Chinese economy's recovery stalled due to the renewed spread of infections. Uncertainty continued due to the semiconductor shortage, supply chain disruptions, the situations in Ukraine and the energy market, and monetary tightening. - FY2023-Q2MitigatedAnnual report
「During the six-month period ended 30 September 2022 (1 April 2022 to 30 September 2022), the global economy showed signs of recovery as economic activity gradually normalized. Overseas, the US, European, Chinese and other emerging-market economies in Asia and elsewhere also showed signs of recovery.」
An economic recovery is reported in the United States, Europe, China and other emerging markets, showing some improvement from the severe conditions reported previously. However, uncertainty remains due to the semiconductor shortage, supply chain disruptions and the situation in Ukraine, among other factors. - FY2023-Q1WorsenedAnnual report
「Overseas, the US, European and other emerging-market economies in Asia and elsewhere showed signs of recovery, but conditions remained challenging due to factors including restrictions on economic activity accompanying lockdowns in Chinese cities, the global semiconductor shortage and supply chain disruptions. In addition, uncertainty in the global economy increased due to the prolonged situation in Ukraine.」
The company describes lockdowns in Chinese cities, the global semiconductor shortage, supply chain disruptions and the prolonged situation in Ukraine, stating that uncertainty in the global economy increased. - FY2022WorsenedAnnual report
「Toward the end of the second half, uncertainty in the global economy increased due to the situation in Ukraine.」
In addition to the previous resurgence of infections and supply chain disruptions, the company describes increased uncertainty in the global economy due to the situation in Ukraine. - FY2022-Q3WorsenedAnnual report
「Overseas, the US, European and other emerging-market economies in Asia and elsewhere showed signs of recovery, but conditions remained challenging due to factors including slower recovery in China, the resurgence of COVID-19 infections and semiconductor shortages.」
The US, Europe and other emerging markets showed signs of recovery, while challenging conditions persisted due to China's slower recovery, the resurgence of COVID-19 infections and semiconductor shortages. - FY2022-Q2MitigatedAnnual report
「Overseas, the US, European, Chinese and other emerging-market economies in Asia and elsewhere showed signs of recovery, but conditions remained challenging due to factors including the resurgence of COVID-19 infections, particularly in Southeast Asia, and semiconductor shortages.」
Although signs of recovery spread across major overseas regions, conditions remained challenging in Southeast Asia and elsewhere due to the resurgence of infections and semiconductor shortages. - FY2022-Q1RestatedAnnual report
「Overseas conditions also remained challenging due to the impact of COVID-19 and semiconductor shortages, but the US and Chinese economies and the economies of other emerging markets in Asia and elsewhere continued to show signs of recovery. Meanwhile, the European economy continued to show weakness, including restrictions on economic activity due to the resurgence of infections.」
The company describes recovery in the US, China and other emerging markets alongside weakness in Europe due to the resurgence of infections, continuing its concerns over differing overseas economic conditions by region. - FY2021RestatedAnnual report
「Although overseas economies remained in a challenging situation, the US and Chinese economies continued to show signs of recovery and the economies of other emerging markets in Asia and elsewhere appeared to have bottomed out. Meanwhile, the European economy showed signs of weakness, including restrictions on economic activity due to the resurgence of infections.」
The company describes recovery in the US and China, a bottoming out in other emerging markets and weakness in Europe due to the resurgence of infections, continuing its concerns over differing overseas economic conditions by region. - FY2021-Q3WorsenedAnnual report
「Conditions overseas also remained challenging, but the US and Chinese economies continued to recover, while the economies of other emerging markets in Asia and elsewhere appeared to have bottomed out. Meanwhile, the European economy showed signs of weakness, including restrictions on economic activity in some areas due to the resurgence of COVID-19.」
The US and Chinese economies continued to recover and other emerging markets appeared to have bottomed out, while Europe again showed economic weakness, including restrictions on economic activity due to the resurgence of COVID-19. - FY2021-Q2MitigatedAnnual report
「Conditions overseas also remained challenging, but the US, European and Chinese economies continued to show signs of recovery, while the economies of other emerging markets in Asia and elsewhere appeared to have bottomed out.」
Although the effects of COVID-19 continued to make conditions challenging, the US, European and Chinese economies showed signs of recovery and other emerging markets appeared to have bottomed out, representing some improvement from the extremely difficult conditions in the previous quarter. - FY2021-Q1WorsenedAnnual report
「Overseas, economic activity in the US, Europe and other emerging markets in Asia and elsewhere remained extremely challenging due to severe restrictions imposed by lockdowns in major regions, while China's economy continued to show signs of recovery following the early resumption of economic activity.」
In addition to the previous concerns over trade issues and economic slowdown, the company describes restrictions on economic activity caused by lockdowns in major regions, resulting in an extremely challenging economic environment in the US, Europe and other emerging markets. - FY2020-Q3WorsenedAnnual report
「Overseas, the US economy remained firm despite the impact of rising tensions over trade issues between the US and China. The European economy showed weakness amid uncertainty over issues including the UK's withdrawal from the EU. In Asia and elsewhere, the Chinese economy slowed moderately due to factors including trade friction with the US, while other emerging-market economies showed signs of weakness.」
The company describes continued deterioration in the overseas business environment, including rising tensions over US-China trade issues, uncertainty and weakness in Europe related to the UK's withdrawal from the EU, China's economic slowdown and weakness in other emerging markets. - FY2020-Q2WorsenedAnnual report
「Overseas, the US economy remained firm despite the impact of rising tensions over trade issues between the US and China. The European economy showed some weakness amid uncertainty over issues including the UK's withdrawal from the EU. In Asia and elsewhere, the Chinese economy slowed moderately due to factors including trade friction with the US, while other emerging-market economies showed signs of weakness.」
The company describes heightened US-China trade tensions, uncertainty in Europe related to the UK's withdrawal from the EU, China's economic slowdown and weakness in other emerging markets, indicating deterioration in the overseas economic environment from the partial recovery seen in the previous quarter. - FY2020-Q1RestatedAnnual report
「Overseas, the US economy remained firm despite the impact of trade issues, while the European economy showed some weakness due to factors including policy-related uncertainty. In Asia and elsewhere, the Chinese economy slowed moderately due to factors including trade friction with the US, while other emerging-market economies continued to recover moderately.」
The company describes the US economy as firm despite the impact of trade issues, Europe as showing some weakness due to policy uncertainty, China as slowing moderately due to trade friction, and other emerging markets as recovering moderately. - FY2019WorsenedAnnual report
「The European economy showed some weakness due to policy-related uncertainty and the impact of trade issues, while the Chinese economy slowed moderately due to factors including trade friction with the US.」
The company describes policy and trade-related uncertainty and weakness in Europe, and an economic slowdown in China due to US-China trade friction, indicating heightened concerns over the overseas economic environment. - FY2019-Q3WorsenedAnnual report
「Overseas, concerns over trade issues and uncertainty about the outlook remained, but the US economy remained firm. The European economy continued to recover moderately despite the impact of policy-related uncertainty. The Chinese economy showed signs of slowing growth due to factors including trade friction with the US, while other emerging-market economies continued to recover moderately, although some weakness was evident.」
In addition to slowing growth in China, the company describes policy-related uncertainty in Europe and weakness in parts of other emerging markets, indicating continued uncertainty in the overseas economic and trade environment. - FY2019-Q2WorsenedAnnual report
「Overseas, concerns over trade issues and uncertainty about the outlook remained, but the US economy remained firm and the European economy continued to recover moderately. The Chinese economy showed signs of slowing growth due to factors including trade friction with the US, while other emerging-market economies showed signs of a moderate recovery.」
The description has deteriorated from China's previously reported recovery to slowing growth due to the impact of trade friction with the US. Concerns over trade issues and uncertainty about the outlook are also explicitly stated. - FY2019-Q1RestatedAnnual report
「Overseas, the US economy continued to recover, while the European economy continued to recover moderately despite some uncertainty related to the UK's withdrawal from the EU. The Chinese economy showed signs of recovery, and other emerging-market economies also showed signs of recovery.」
While uncertainty related to the UK's withdrawal from the EU remains in Europe, China and other emerging markets continue to show signs of recovery, consistent with the previous situation. - FY2018MitigatedAnnual report
「Overseas, the US economy remained generally firm, with recovery centered on construction machinery despite a year-on-year decline in automobile production. The European economy continued to recover moderately, although some uncertainty related to the UK's withdrawal from the EU remained. The Chinese economy showed signs of recovery, while other emerging-market economies also showed signs of recovery.」
Although uncertainty remains in Europe, the US economy is generally firm and China and other emerging markets are showing signs of recovery, representing some improvement from the previous concerns over economic slowdown. - FY2018-Q3RestatedAnnual report
「Overseas, the US economy remained generally firm, with recovery centered on construction machinery despite a year-on-year decline in automobile production. The European economy recovered moderately, although some uncertainty related to the UK's withdrawal from the EU remained. The Chinese economy and other emerging-market economies showed signs of recovery.」
The US economy remained generally firm, Europe recovered despite some remaining uncertainty, and China and other emerging markets showed signs of recovery. - FY2018-Q2MitigatedAnnual report
「Overseas, the US economy remained generally firm, with recovery centered on construction machinery despite a year-on-year decline in automobile production. The European economy recovered moderately, although some uncertainty remained over the UK's withdrawal from the EU. The Chinese economy and other emerging-market economies showed signs of recovery.」
Some uncertainty remains in Europe, while the US economy is generally firm and China and other emerging markets are showing signs of recovery. - FY2018-Q1MitigatedAnnual report
「Overseas, the US economy remained firm despite the impact of factors including lower crude oil prices. The European economy recovered moderately despite some signs of weakness. Other emerging-market economies showed signs of recovery, while the Chinese economy remained resilient despite slowing moderately.」
Europe and other emerging markets are described as recovering, while China remains resilient despite slowing. Some weakness remains in parts of Europe. - FY2017-Q3MitigatedAnnual report
「Overseas, the US economy continued to recover despite some signs of weakness. The European economy continued to recover moderately, although some weakness and uncertainty related to the UK's withdrawal from the EU were evident. The Chinese economy and the economies of other emerging markets showed signs of recovery.」
While uncertainty related to the UK's withdrawal from the EU remains in Europe, the Chinese economy and other emerging markets are described as showing signs of recovery, representing some improvement from the previous slowdown and weakness. - FY2017-Q2RestatedAnnual report
「Overseas, the US economy continued to recover despite some signs of weakness. The European economy showed a moderate recovery, but uncertainty emerged over the UK's withdrawal from the EU. The Chinese economy slowed moderately, while signs of weakness were also seen in the economies of other emerging markets.」
The company continues to describe overseas economic risks, including the UK's EU withdrawal issue in Europe, China's slowdown and weakness in other emerging markets. It explicitly states that there were no new material changes. - FY2017-Q1First statedAnnual report
「The European economy was on a recovery track, but uncertainty emerged over the UK's withdrawal from the EU. The Chinese economy slowed moderately, while signs of weakness were also seen in the economies of other emerging markets.」
The company identifies the UK's EU withdrawal issue, the slowdown in China and weakness in emerging-market economies as risk factors in the overseas business environment.