Economic stagnation and weaker capital investment and consumer sentiment due to a stronger yen and falling share prices
First written in FY2017-Q1. 18 of 39 entries say "Worsened", first in FY2019-Q3. Latest entry: 2026-11-11.
Maezawa Kyuso Industries 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 2020: 151 of 177 companies on the "Worse" side.
48 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「During the current interim accounting period, Japan's economy remained on a moderate recovery path against a backdrop of improving employment and income conditions. However, conditions remained uncertain due to rising prices and energy costs resulting from the situation in the Middle East, as well as fluctuations in foreign exchange rates and interest rates.」
While indicating a moderate economic recovery, the company explicitly identified rising prices and energy costs resulting from the situation in the Middle East, together with foreign exchange and interest-rate fluctuations, as new sources of uncertainty. - FY2026-H1WorsenedAnnual report
「During the interim accounting period under review, the Japanese economy entered a gradual recovery trend due to improvements in employment and income conditions, among other factors. However, the outlook remained uncertain due to continued price increases, US trade policy, the depreciation of the yen, and surging resource prices resulting from prolonged instability in the international situation, among other factors.」
While indicating a gradual recovery trend, the disclosure lists rising prices, US trade policy, the depreciation of the yen, prolonged instability in the international situation and surging resource prices as new sources of uncertainty. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period under review, the Japanese economy remained on a gradual recovery track due to improvements in employment and income conditions, among other factors, although the outlook remained uncertain due to concerns about the future of the Chinese economy, exchange-rate trends and rising prices, among other factors.」
While indicating a gradual recovery due to improvements in employment and income conditions, the disclosure continues to identify the Chinese economy, exchange rates and rising prices as sources of uncertainty. - FY2024RestatedAnnual report
「During the consolidated fiscal year under review, the Japanese economy recovered gradually as socioeconomic activity moved toward normalization, despite downside concerns including the prolonged depreciation of the yen, surging raw material and energy prices and global monetary tightening.」
While indicating the normalization of economic activity and a gradual recovery, the disclosure reconfirms downside concerns arising from the depreciation of the yen, raw material and energy prices and monetary tightening. - FY2024-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period under review, the Japanese economy recovered gradually as socioeconomic activity moved toward normalization. Meanwhile, uncertainty continued due to surging raw material and energy prices, the prolonged depreciation of the yen and global monetary tightening, among other factors.」
While indicating the normalization of socioeconomic activity and economic recovery, the disclosure reconfirms the continued uncertainty resulting from surging raw material and energy prices, the prolonged depreciation of the yen and global monetary tightening. - FY2024-Q2WorsenedAnnual report
「Meanwhile, uncertainty continued due to surging raw material and energy prices associated with the Ukraine crisis, higher prices resulting from the depreciation of the yen, global monetary tightening and concerns about the outlook for the Chinese economy, among other factors.」
In addition to the previous geopolitical risks, surging raw material and energy prices and the depreciation of the yen, the disclosure explicitly identifies global monetary tightening and concerns about the outlook for the Chinese economy as sources of uncertainty. - FY2024-Q1RestatedAnnual report
「During the first quarter of the consolidated cumulative period under review, the Japanese economy recovered gradually as economic activity moved toward normalization following the reclassification of COVID-19 as a Category 5 disease under the Infectious Diseases Control Law. Meanwhile, uncertainty over the outlook continued due to surging raw material and energy prices resulting from the prolonged Russia-Ukraine situation and higher prices resulting from the depreciation of the yen, among other factors.」
While describing the normalization of economic activity and economic recovery following the reclassification of COVID-19, the disclosure reconfirms uncertainty over the outlook, including geopolitical conditions, surging raw material and energy prices, and higher prices resulting from the depreciation of the yen. - FY2023RestatedAnnual report
「Meanwhile, the outlook remained uncertain due to surging raw material and energy prices resulting from the prolonged Russia-Ukraine situation and higher prices resulting from the depreciation of the yen, among other factors.」
While indicating a recovery in the domestic economy, the disclosure reconfirms uncertainty, including geopolitical conditions, surging raw material and energy prices, and higher prices resulting from the depreciation of the yen. - FY2023-Q3RestatedAnnual report
「Meanwhile, the outlook remained uncertain due to surging raw material and energy prices resulting from the prolonged Russia-Ukraine situation and higher prices resulting from the rapid depreciation of the yen, among other factors.」
While indicating a recovery in the domestic economy due to the easing of activity restrictions, the disclosure reconfirms uncertainty over the outlook, including the Russia-Ukraine situation, surging raw material and energy prices, and higher prices resulting from the depreciation of the yen. - FY2023-Q2WorsenedAnnual report
「Meanwhile, rising resource prices due to the prolonged Russia-Ukraine situation and higher prices resulting from the rapid depreciation of the yen have become downside risks.」
In addition to the previous geopolitical risks and rising resource prices, the disclosure explicitly identifies higher prices resulting from the rapid depreciation of the yen as a downside risk. - FY2023-Q1WorsenedAnnual report
「Meanwhile, the prolonged Russian invasion of Ukraine and restrictions on economic activity in China have created downside risks, including surging raw material and energy prices and supply constraints.」
In addition to the previous geopolitical risks and rising raw material prices, the disclosure specifies the prolonged invasion of Ukraine, restrictions on economic activity in China, surging energy prices and supply constraints as downside risks. - FY2022WorsenedAnnual report
「During the consolidated fiscal year under review, the Japanese economy remained on a recovery track as socioeconomic activity moved toward normalization despite the continued severe conditions caused by the novel coronavirus disease. Meanwhile, the outlook remained uncertain, including due to rising raw material prices resulting from increased geopolitical risks associated with the situation in Ukraine.」
While indicating a recovery in socioeconomic activity, the disclosure explicitly identifies geopolitical risks arising from the situation in Ukraine and rising raw material prices as new sources of uncertainty. - FY2022-Q3Recovery gains alongside concerns about a sixth wave of infectionsAnnual report
「During the third quarter of the consolidated cumulative period under review, the economy recovered from the downturn caused by the COVID-19 crisis as requests for activity restrictions were eased. However, concerns about a sixth wave of infections due to the spread of new variants overseas, shortages of raw materials and rising resource prices continued, and the economic outlook remained uncertain.」
While describing an economic recovery resulting from the easing of activity restrictions, the disclosure states that concerns about a sixth wave of infections caused by new variants, shortages of raw materials and rising resource prices continued, leaving uncertainty over the outlook. - FY2022-Q2WorsenedAnnual report
「During the second quarter of the consolidated cumulative period under review, the economy continued to recover gradually from the downturn caused by the COVID-19 crisis. However, the outlook remained uncertain due to activity restrictions resulting from intermittent states of emergency, concerns about a renewed spread of infection, shortages of raw materials and rising resource prices accompanying the global economic recovery.」
While the economic recovery continued, the disclosure cites activity restrictions, a renewed spread of infection, shortages of raw materials and rising resource prices, and states that uncertainty over the economic outlook continued. - FY2022-Q1RestatedAnnual report
「During the first quarter of the consolidated cumulative period under review, capital investment and production continued to show signs of recovery, but the outlook remained uncertain due to the prolonged novel coronavirus disease, including the spread of variants.」
While indicating a recovery in capital investment and production, the disclosure reconfirms that the outlook remained uncertain due to the prolonged infectious disease. - FY2021WorsenedAnnual report
「Although personal consumption, production and exports showed signs of recovery as the level of socioeconomic activity was raised while measures were taken to prevent the spread of infection, the slowdown in the economy intensified following the renewed spread of infection since the end of the previous year, and the outlook remained uncertain.」
While indicating a recovery in personal consumption, production and exports, the disclosure describes the intensifying economic slowdown and continued uncertainty over the outlook due to the renewed spread of infection. - FY2021-Q3WorsenedAnnual report
「During the third quarter of the consolidated cumulative period under review, the Japanese economy remained in severe conditions as corporate earnings continued to decline substantially due to stagnating economic activity caused by the spread of the novel coronavirus disease, while capital investment remained on a declining trend in response to worsening corporate performance. Although personal consumption, production and exports showed signs of recovery as the level of socioeconomic activity was raised while measures were taken to prevent the spread of infection, the outlook remained uncertain due to the renewed spread of infection during the winter.」
The disclosure states that uncertainty over the outlook continued as the renewed spread of infection during the winter occurred while stagnating economic activity and declines in corporate earnings and capital investment continued. - FY2021-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period under review, the Japanese economy remained in severe conditions as corporate earnings continued to decline substantially due to stagnating economic activity caused by the spread of the novel coronavirus disease, while capital investment remained on a declining trend in response to worsening corporate performance. Meanwhile, as the level of socioeconomic activity was raised while measures were taken to prevent the spread of infection, personal consumption, production and exports showed signs of recovery.」
The disclosure states that, while severe economic conditions continued, including declines in corporate earnings and capital investment, personal consumption, production and exports also showed signs of recovery. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the consolidated cumulative period under review, the Japanese economy continued to deteriorate rapidly and conditions became extremely severe, against a backdrop of declining personal consumption and stagnating corporate activity due to the spread of the novel coronavirus disease. In late May, the state of emergency was lifted nationwide to balance preventing the spread of infection with socioeconomic activity, but conditions remained unpredictable amid concerns about a second wave.」
The disclosure states that, in addition to the previous uncertainty surrounding the global economy, the domestic economy deteriorated rapidly and conditions became extremely severe due to declining personal consumption and stagnating corporate activity caused by the novel coronavirus disease. - FY2020WorsenedAnnual report
「In addition, the economy came under significant downward pressure and conditions became severe due to the spread of the novel coronavirus infection from the beginning of the year.」
The disclosure states that, in addition to the previous US-China trade frictions and slowdown in overseas economies, the spread of the novel coronavirus infection put significant downward pressure on the economy. - FY2020-Q3WorsenedAnnual report
「During the third quarter of the consolidated cumulative period under review, the Japanese economy remained firm as employment and income conditions continued to improve, although exports and production in the manufacturing sector remained weak and signs of economic stagnation began to emerge. In addition, the overseas economy remained uncertain due to the slowdown in the Chinese economy accompanying the prolonged US-China trade frictions and the UK's EU withdrawal issue, among other factors.」
Regarding the domestic economy, the disclosure states that signs of economic stagnation began to emerge, and describes weakness in exports and production and uncertainty due to US-China trade frictions, the slowdown in the Chinese economy and the UK's EU withdrawal issue. - FY2020-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period under review, the Japanese economy remained on a gradual recovery track, supported by improvements in employment and income conditions and other factors. Meanwhile, the outlook for the global economy remained uncertain due to the prolonged US-China trade frictions, the slowdown in the Chinese economy and the UK's EU withdrawal issue, among other factors.」
While indicating a gradual recovery trend in the domestic economy, the disclosure states that uncertainty surrounding the global economy due to the prolonged US-China trade frictions, the slowdown in the Chinese economy and the UK's EU withdrawal issue is continuing. - FY2020-Q1RestatedAnnual report
「During the first quarter of the consolidated cumulative period under review, the Japanese economy remained on a gradual recovery track, supported by sustained improvements in employment and income conditions and firm personal consumption. Meanwhile, the outlook for the global economy remained highly uncertain due to the slowdown in the Chinese economy accompanying escalating US-China trade frictions and political instability in Europe, among other factors.」
While indicating a gradual recovery trend in the domestic economy, the disclosure states that uncertainty surrounding the global economy due to US-China trade frictions, the slowdown in the Chinese economy and political instability in Europe is continuing. - FY2019WorsenedAnnual report
「During the consolidated fiscal year under review, the Japanese economy remained on a gradual recovery track, with signs of a recovery in personal consumption supported by improving employment and income conditions, despite the effects of a series of natural disasters. Meanwhile, uncertainty surrounding the global economy increased due to escalating US-China trade frictions and political instability in Europe.」
While describing a gradual recovery in the domestic economy, the disclosure cites escalating US-China trade frictions and political instability in Europe, among other factors, as contributing to increased uncertainty surrounding the global economy. - FY2019-Q3WorsenedAnnual report
「During the third quarter of the consolidated cumulative period under review, the Japanese economy remained on a gradual recovery track, supported by improving corporate earnings and signs of a recovery in personal consumption, although uncertainty surrounding the global economy increased due to escalating US-China trade frictions and the slowdown in the Chinese economy.」
While describing a gradual recovery in the domestic economy, the disclosure states that uncertainty surrounding the global economy increased due to escalating US-China trade frictions and the slowdown in the Chinese economy. - FY2019-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period under review, the Japanese economy had been on a gradual recovery track, supported by improving corporate earnings and a recovery in personal consumption.」
The gradual recovery trend supported by improving corporate earnings and a recovery in personal consumption is reiterated. - FY2019-Q1RestatedAnnual report
「During the first quarter of the consolidated cumulative period under review, the Japanese economy had been on a gradual recovery track, supported by improving corporate earnings and a recovery in personal consumption.」
The gradual recovery trend supported by improving corporate earnings and a recovery in personal consumption is described as the economic environment continuing from the previous fiscal year. - FY2018RestatedAnnual report
「During the consolidated fiscal year under review, the Japanese economy saw continued improvement in corporate earnings, while personal consumption also showed signs of recovery.」
The improvement in corporate earnings and signs of a recovery in personal consumption are described as the economic environment for the full year. - FY2018-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period under review, the Japanese economy saw continued improvement in corporate earnings, while personal consumption also showed signs of recovery.」
The improvement in corporate earnings and signs of a recovery in personal consumption are described as the economic environment continuing from the previous quarter. - FY2018-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period under review, the Japanese economy saw continued improvement in corporate earnings, while personal consumption also showed signs of recovery.」
The improvement in corporate earnings and signs of a recovery in personal consumption are described as the economic environment continuing from the previous quarter. - FY2018-Q1MitigatedAnnual report
「During the first quarter of the consolidated cumulative period under review, the Japanese economy saw continued improvement in corporate earnings, while personal consumption also showed signs of recovery.」
The description cites improving corporate earnings and signs of a recovery in personal consumption, indicating an improved economic environment rather than the previous risk of economic stagnation. - FY2017MitigatedAnnual report
「During the consolidated fiscal year under review, the Japanese economy remained on a gradual recovery track, supported by the effects of the government's economic policies and the Bank of Japan's monetary policy.」
The full-year description has been changed from the economic stagnation described through the previous quarter to a gradual recovery trend. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, employment and income conditions remained firm, supported by the effects of the government’s economic policies and the Bank of Japan’s monetary policy, but exports and production remained sluggish and the economy continued to stagnate.」
The company describes firm employment and income conditions, while noting that sluggish exports and production and economic stagnation have continued. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy had been on a gradual recovery trend, but exports and production remained sluggish and the economy continued to stagnate amid a stronger yen and concerns over downside risks in emerging-market economies.」
The slowdown in exports and production caused by a stronger yen and concerns over downside risks in emerging-market economies is described as an ongoing economic risk. - FY2017-Q1First statedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the Japanese economy remained sluggish as the reversal toward a stronger yen worsened the export environment and cast a shadow over capital investment, while falling share prices also weakened consumer sentiment.」
A stronger yen, falling share prices, slower capital investment and weaker consumer sentiment have newly been identified as risk factors in the economic environment for the quarter.