Economic slowdown in emerging countries and uncertainty following the UK's decision to leave the EU
First written in FY2017-Q1. 16 of 34 entries say "Restated". Latest entry: FY2026.
Nfk Holdings moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 71 of 83 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Caution about the outlook continued to prevail owing to factors including persistently high raw-material prices, continued yen weakness and the impact of higher US tariffs.」
A cautious outlook, including the impact of raw material prices, yen depreciation and US tariffs, continues to be disclosed, as in the previous interim period. - 2026-05-15RestatedResults
「原材料価格の高止まりや円安基調の継続、米国の関税引き上げの影響など、先行きについては依然として慎重な見方が広がっている状況が続いております。」
原材料価格、円安、米国の関税引き上げを要因とする先行き不透明感が継続して記載された。 - FY2026-H1WorsenedAnnual report
「Caution about the outlook continued to prevail owing to factors including persistently high raw-material prices, continued yen weakness and the impact of higher US tariffs.」
In addition to the previously cited yen depreciation and raw material prices, the impact of higher US tariffs is cited as a new uncertainty factor. - FY2025-H1WorsenedAnnual report
「The economy remained uncertain owing to factors including downside risks in overseas economies associated with continued high interest rates in Europe and the United States and continued stagnation in China's property market, as well as inflation, conditions in the Middle East and volatility in financial capital markets.」
In addition to the previously cited concerns about downside risks in overseas economies, high interest rates in Europe and the United States, stagnation in China's property market, inflation, conditions in the Middle East and volatility in financial capital markets are listed as specific factors contributing to uncertainty. - FY2024WorsenedAnnual report
「The outlook for Japan's economy remains increasingly uncertain, as domestic and overseas economic conditions affecting our group's performance are impacted by factors including soaring energy and raw-material prices resulting from unstable international conditions and the rapid depreciation of the yen.」
Against a backdrop of unstable international conditions, the weaker yen and soaring energy and raw-material prices, uncertainty in domestic and overseas economies is described as "increasing further." - FY2024-Q3RestatedAnnual report
「In addition to persistently high fuel and raw-material prices against a backdrop of the prolonged situation in Ukraine and the weaker yen, the outlook for the domestic and overseas economies remains uncertain owing to downside risks associated with global monetary tightening, the impact of stagnation in China's property market and inflation.」
Uncertainty about the outlook due to the situation in Ukraine, the weaker yen, fuel and raw-material prices, monetary tightening, stagnation in China's property market and inflation continues to be cited following the previous quarter. - FY2024-Q2WorsenedAnnual report
「In addition to persistently high fuel and raw-material prices against a backdrop of the prolonged situation in Ukraine and the weaker yen, the outlook for the domestic and overseas economies has become increasingly uncertain owing to downside risks associated with global monetary tightening, the impact of stagnation in China's property market and inflation.」
In addition to the previously cited situation in Ukraine, the weaker yen, fuel and raw-material prices and monetary tightening, downside risks associated with stagnation in China's property market and inflation are explicitly mentioned, and the text states that uncertainty about the outlook has increased further. - FY2024-Q1ReframedAnnual report
「At the same time, the situation remained uncertain owing to factors including resource price increases associated with the Russia-Ukraine situation and continued global monetary tightening, as well as the risk that a downturn in overseas economies could put downward pressure on Japan's economy.」
The main factors have shifted from uncertainty centered on the spread of infection and supply constraints to higher resource prices associated with the Russia-Ukraine situation, global monetary tightening and downside risks in overseas economies. - FY2023-Q3RestatedAnnual report
「Uncertainty about the outlook continues owing to factors including the impact of lockdowns in some Chinese cities, higher crude oil prices and inflation associated with the Ukraine crisis, the rapid depreciation of the yen against a backdrop of global monetary tightening, and prolonged semiconductor shortages.」
Uncertainty about the outlook due to China's lockdowns, higher crude oil prices and inflation associated with the Ukraine crisis, yen depreciation driven by monetary tightening, and semiconductor shortages continues. - FY2023-Q2WorsenedAnnual report
「Uncertainty about the outlook continues owing to factors including the impact of lockdowns in some Chinese cities, higher crude oil prices and inflation associated with the Ukraine crisis, the rapid depreciation of the yen against a backdrop of global monetary tightening, and prolonged semiconductor shortages.」
In addition to the previously cited infection, the situation in Ukraine, raw-material and energy prices and the weaker yen, China's lockdowns, inflation, monetary tightening and semiconductor shortages are listed as factors contributing to uncertainty about the outlook. - FY2023-Q1RestatedAnnual report
「The outlook remained uncertain owing to factors including soaring global raw-material and energy prices, the rapid depreciation of the yen, the prolonged situation in Ukraine and the impact of semiconductor shortages.」
Continued uncertainty about the outlook due to soaring raw-material and energy prices, the rapid depreciation of the yen, the prolonged situation in Ukraine and semiconductor shortages is cited. - FY2022WorsenedAnnual report
「The domestic and overseas economies have become increasingly uncertain, owing to factors including plant cutbacks or shutdowns caused by global supply-chain disruptions such as prolonged semiconductor shortages and delays in parts supplies, higher costs resulting from rising crude oil and raw-material prices, the worsening situation in Ukraine and a rapid depreciation of the yen.」
In addition to the previously cited infection and supply constraints, semiconductor and parts shortages, higher crude oil and raw-material prices, the situation in Ukraine and the rapid depreciation of the yen are explicitly mentioned, and the text states that uncertainty has increased further. - FY2022-Q3WorsenedAnnual report
「The outlook remains extremely uncertain owing to the ongoing depreciation of the yen, soaring prices of fuel and raw materials, stagnation in production activity caused by shortages of electronic components including semiconductors, and renewed spread of the novel coronavirus infection driven by the emergence of successive variants.」
In addition to the previously cited spread of the infection and restrictions on economic activity, the text explicitly mentions the weaker yen, soaring fuel and raw-material prices, production stagnation caused by shortages of electronic components, and renewed spread of the infection due to variants, describing the outlook as "extremely uncertain." - FY2022-Q2RestatedAnnual report
「Although the economy is expected to gradually recover as vaccination rates rise, the risk of a renewed spread of the infection remains, and uncertainty continues.」
Uncertainty about the outlook due to the prolonged novel coronavirus infection and the risk of a renewed spread continues. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, from 1 April 2021 to 30 June 2021, Japan's economy remained in extremely difficult conditions, as economic and social activity continued to be restricted by the declaration of a state of emergency and the implementation of priority preventive measures amid the prolonged impact of the novel coronavirus infection. Although the economy is expected to gradually recover as vaccination rates rise and overseas economies improve, the risk of a renewed spread of the infection remains, and uncertainty continues.」
In addition to the continued restrictions on activity caused by the novel coronavirus infection and the risk of a renewed spread, expectations of a recovery supported by expanded vaccination and improvement in overseas economies are also mentioned. - FY2021WorsenedAnnual report
「The economy subsequently began to recover, supported by government measures to stimulate economic activity. However, the outlook remained extremely uncertain, as the state of emergency was reissued following the renewed spread of the novel coronavirus infection. Our group likewise operated in an extremely challenging business environment, as restrictions on cross-border travel associated with the spread of the novel coronavirus infection had a serious impact on our response to overseas projects, while the slowdown in domestic appetite for capital investment also became pronounced.」
The renewed spread of the infection, the state of emergency, the serious impact on overseas projects and the slowdown in domestic appetite for capital investment are cited, and the outlook is described as "extremely uncertain." - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, from 1 April 2020 to 31 December 2020, Japan's economy was forced into a sharp slowdown as economic activity stagnated owing to the spread of the novel coronavirus infection. As the situation of living with COVID-19 continued, downside factors including prolonged US-China trade friction also persisted, and uncertainty about the outlook for the global economy continued to increase.」
The stagnation of economic activity caused by the novel coronavirus infection and uncertainty in the global economy, with prolonged US-China trade friction cited as a downside factor, continue to be mentioned following the previous quarter. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, from 1 April 2020 to 30 September 2020, Japan's economy was forced into a sharp slowdown as economic activity stagnated owing to the spread of the novel coronavirus infection. As the situation of living with COVID-19 continued, downside factors including prolonged US-China trade friction also persisted, and uncertainty about the outlook for the global economy continued to increase. Our group likewise operated in an extremely challenging business environment, as restrictions on cross-border travel associated with the spread of the novel coronavirus infection had a serious impact on our response to overseas projects, while the slowdown in domestic appetite for capital investment also became pronounced.」
The serious impact of the spread of the novel coronavirus infection on overseas projects and the slowdown in domestic appetite for capital investment have continued. In addition, prolonged US-China trade friction is cited as a downside factor, and the text states that uncertainty about the outlook for the global economy is increasing. - FY2021-Q1WorsenedAnnual report
「In April 2020, our group formulated and launched a "New Medium-Term Management Plan." We have positioned the 3-year period through fiscal 2022 as a period for establishing a foundation for growth toward fiscal 2023, and are pursuing initiatives across the company based on 3 basic management policies: "strengthening the business foundation," "building a robust management foundation to support the growth strategy," and "management focused on the environment, society and governance." Nevertheless, the business environment remained extremely challenging, with restrictions on cross-border travel associated with the spread of the novel coronavirus infection having a serious impact on our response to overseas projects, while the slowdown in appetite for capital investment also became pronounced in Japan.」
It is stated that restrictions on cross-border travel caused by the spread of the novel coronavirus infection had a serious impact on the handling of overseas projects, while the slowdown in domestic appetite for capital investment also became pronounced. - FY2020MaterialisedAnnual report
「Against this backdrop, the novel coronavirus infection that emerged in Wuhan, China, at the end of last year spread worldwide from the beginning of the year. The economies of Japan and other countries deteriorated rapidly as a result of lockdowns worldwide, restrictions on cross-border travel, production stoppages caused by supply-chain disruptions and a sharp deterioration in consumer sentiment.」
It is stated that, in addition to the previously cited trade issues and uncertainty in overseas economies, the global spread of the novel coronavirus infection and its specific impacts, including lockdowns, travel restrictions, supply-chain disruptions and production stoppages, had actually materialized. - FY2020-Q3RestatedAnnual report
「The outlook remained uncertain owing to concerns about the impact of developments in trade issues originating in the United States on the global economy and downside risks arising from uncertainty in overseas economies.」
Uncertainty about the outlook due to trade issues originating in the United States and uncertainty in overseas economies continues to be cited. - FY2020-Q2RestatedAnnual report
「The outlook remained uncertain owing to concerns about the impact of developments in trade issues originating in the United States on the global economy and downside risks arising from uncertainty in overseas economies.」
Uncertainty about the outlook due to trade issues originating in the United States and uncertainty in overseas economies continues to be cited, following the previous quarter. - FY2020-Q1RestatedAnnual report
「The outlook remained uncertain owing to concerns about the impact of developments in trade issues originating in the United States on the global economy and downside risks arising from uncertainty in overseas economies.」
Uncertainty about the outlook due to trade issues originating in the United States and uncertainty in overseas economies continues to be cited. - FY2019RestatedAnnual report
「At the same time, concerns remained about the impact on the economy of factors including the effect of developments in US-China trade relations on the global economy, slowing growth in emerging-market economies, led by China, and uncertainty over overseas economic conditions and policies, and the outlook continued to be uncertain.」
Uncertainty about the outlook due to US-China trade relations, slowing growth in emerging-market economies and uncertainty over overseas economies and policies continues to be cited. - FY2019-Q3RestatedAnnual report
「At the same time, concerns remained about the impact on the economy of factors including the effect of developments in US-China trade relations on the global economy, uncertainty in overseas economies and volatility in financial capital markets, and the outlook continued to be uncertain.」
Uncertainty about the outlook due to US-China trade relations, uncertainty in overseas economies and volatility in financial capital markets continues to be cited. - FY2019-Q2WorsenedAnnual report
「At the same time, concerns remained about the impact on the economy of factors including the effect of developments in US-China trade relations on the global economy, uncertainty in overseas economies and volatility in financial capital markets, and the outlook continued to be uncertain.」
In addition to the previously cited trade issues originating in the United States, the impact of developments in US-China trade relations on the global economy, uncertainty in overseas economies and volatility in financial capital markets are listed as factors of concern. - FY2019-Q1WorsenedAnnual report
「At the same time, the outlook remained uncertain owing to factors including the impact of trade issues originating in the United States, uncertainty in overseas economies and volatility in financial capital markets.」
In addition to the previously cited uncertainty over overseas political conditions and policy developments, trade issues originating in the United States, uncertainty in overseas economies and volatility in financial capital markets are listed as factors contributing to uncertainty about the outlook. - FY2018RestatedAnnual report
「Although overseas economies generally showed signs of a gradual recovery, uncertainty remained over policy developments in Europe, the United States and Asia, and the outlook continued to be uncertain.」
The view that uncertainty remains over overseas policy developments and that the outlook is uncertain continues to be maintained. - FY2018-Q3RestatedAnnual report
「At the same time, the outlook remained uncertain amid concerns about the impact on the domestic economy of heightened geopolitical risks and volatility in overseas political conditions and financial capital markets.」
The uncertainty about the outlook due to geopolitical risks, overseas political conditions and volatility in financial capital markets is restated with the same content as in the previous quarter. - FY2018-Q2WorsenedAnnual report
「At the same time, the outlook remained uncertain amid concerns about the impact on the domestic economy of heightened geopolitical risks and volatility in overseas political conditions and financial capital markets.」
In addition to the previously cited political instability overseas and the economic slowdown in China and emerging countries, heightened geopolitical risks and volatility in financial capital markets are explicitly mentioned, with concerns expressed about their impact on the domestic economy. - FY2018-Q1ReframedAnnual report
「At the same time, the recovery in personal consumption continued to stall, while political instability overseas and the economic slowdown in China and emerging countries also contributed to continued uncertainty about the outlook.」
The individual factors of the UK's decision to leave the EU and the transition to a new US administration have been consolidated into the broader expression "political instability overseas" and are listed, together with the economic slowdown in China and emerging countries, as factors contributing to uncertainty about the outlook. - FY2017-Q3WorsenedAnnual report
「At the same time, uncertainty in the global economy has increased, owing to factors including the economic slowdown in emerging countries, led by China, the UK's withdrawal from the European Union (EU), and the transition to a new US administration, and the outlook remains uncertain.」
In addition to the previously cited economic slowdown in emerging countries and the UK's withdrawal from the EU, the transition to a new US administration has been added as a factor contributing to uncertainty, and the text states that "uncertainty in the global economy is increasing." - FY2017-Q2RestatedAnnual report
「At the same time, the outlook for the economy remained uncertain, owing to factors including the economic slowdown in emerging countries, led by China, and the UK's decision to leave the European Union (EU).」
The uncertainty surrounding the economic outlook due to the economic slowdown in emerging countries, including China, and the UK's decision to leave the EU is restated without change. - FY2017-Q1First statedAnnual report
「At the same time, the outlook for the economy remained uncertain, owing to factors including the economic slowdown in emerging countries, led by China, and the UK's decision to leave the European Union (EU).」
The economic slowdown in emerging countries, including China, and the UK's decision to leave the EU are listed as factors contributing to uncertainty about the economic outlook.