Changes in overseas conditions
First written in FY2016. 6 of 26 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026.
Toyo Denki Seizo K.K.(Toyo Electric Mfg.Co.,Ltd.) moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2022: 37 of 74 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「If a risk materialises, we work with external experts, including lawyers familiar with local laws and business practices, to understand its impact and implement appropriate measures.」
Political, economic, disaster and regulatory risks associated with operations in China, Thailand and the United States continue, while measures involving information gathering, monitoring and cooperation with external experts are explicitly identified. - FY2026-H1WorsenedAnnual report
「Uncertainty about the outlook continues due to US tariff measures and the resulting prolongation of US-China trade friction, rising tensions in Japan-China relations, persistent geopolitical risks, higher interest rates and prices, and exchange-rate fluctuations.」
Regarding overseas conditions, it explicitly identifies the rising tensions in Japan-China relations in addition to the longstanding US-China trade frictions and geopolitical risks. - FY2024ReframedAnnual report
「The Group has production and sales facilities in China, Thailand and the US, and country risks, including changes in the political and economic conditions of each country and natural disasters, may affect its business activities and employee safety. Unexpected changes in laws, regulations or tax systems may also affect the operations of overseas subsidiaries and, consequently, the Group's performance and assets.」
The company organizes overseas-environment risks as country risks, including political, economic and disaster risks affecting its facilities in China, Thailand and the US, as well as risks from changes in laws, regulations and tax systems. - FY2023-Q3MitigatedAnnual report
「China's economy is also moving toward recovery following the lifting of the zero-COVID policy.」
The disclosure has shifted from describing a slowdown in China's economy due to activity restrictions and the zero-COVID policy through the previous quarter to stating that the economy is recovering following the lifting of those policies. - FY2023-Q1China's economic recovery has yet to gain tractionAnnual report
「Although economic activity in China has resumed after lockdowns, foot traffic remains below pre-COVID levels, including because subway ridership has plateaued amid continued activity restrictions in some areas, and the economy has not yet achieved a full-scale recovery.」
The company states that although economic activity in China has resumed after lockdowns, continued activity restrictions and plateauing subway ridership have prevented a full-scale recovery. - FY2022-Q3Economic activity slows in China under its zero-COVID policyAnnual report
「As the economic impact of the COVID-19 pandemic eases overseas, the economies of many countries, led by the US, are on a recovery trend. In China, however, the pace of economic activity has slowed amid city lockdowns and tighter activity restrictions under the zero-COVID policy and weak personal consumption.」
While many countries, led by the US, are on a recovery trend, economic activity in China is slowing due to city lockdowns and activity restrictions under the zero-COVID policy and weak personal consumption. - FY2022-Q2The US and other economies are recovering, while China slows amid activity restrictions and a weak property marketAnnual report
「Although uncertainty about the outlook remains due to the emergence of new variants and other factors, the economies of many countries, led by the US, are on a recovery trend. In China, however, the pace of economic growth has slowed due to intermittent restrictions on activity to contain COVID-19 and a cooling property market.」
The company states that many economies, including the US, are on a recovery trend, while China's growth has slowed due to activity restrictions and a cooling property market. - FY2022-Q1US recovery, while China's economic activity stagnatesAnnual report
「Overseas, the US economy is recovering steadily as restrictions on activity are eased through the spread of vaccines. Meanwhile, in China, where the economy began recovering earlier, economic activity temporarily stagnated due to tighter restrictions to contain COVID-19 and government measures to restrain investment.」
The company states that economic recovery is progressing in the US, while economic activity in China temporarily stagnated due to measures to contain COVID-19 and government measures to restrain investment. - FY2021Expectations for a recovery in China and maintenance demandAnnual report
「There are signs of an impending recovery, particularly in demand for railway infrastructure in China, including maintenance demand for high-speed railways and urban transportation.」
The company states that China's economy continues to recover after the containment of COVID-19 and that signs of a recovery have begun to emerge in maintenance demand for high-speed railways and urban transportation. - FY2021-Q3China's recovery continues, while Europe remains constrainedAnnual report
「Although some countries, including the US, are showing signs of economic recovery, COVID-19 has been spreading again, particularly in Europe, and restrictions on economic activity continue. Meanwhile, China's economy, where the spread of COVID-19 was brought under control early, continues to recover gradually.」
The company describes a recovery in the US and a gradual recovery in China's economy, while stating that restrictions on economic activity resulting from the renewed spread of COVID-19 continue in Europe. - FY2021-Q1China recovering, but US-China trade issues slowing the paceAnnual report
「In China, the impact of COVID-19 is subsiding and capital investment has begun to recover. However, the prolonged US-China trade issues are expected to make the pace of recovery gradual.」
The company states that in China, the impact of COVID-19 has subsided and capital investment has begun to recover, but the prolonged US-China trade issues are expected to slow the pace of recovery. - FY2020-Q3WorsenedAnnual report
「In the transportation business, domestic demand for replacement railway rolling stock remains firm, while demand in China, despite uncertainty about the outlook, is on a gradual recovery trend.」
The company specifically identifies uncertainty about the outlook for demand in China. While downside risks to the global economy are increasing, it also cites firm domestic demand for replacement railway rolling stock and a gradual recovery in demand in China. - FY2020-Q2Concerns persist, but emerging markets and infrastructure investment remain firmAnnual report
「Overseas, the US economy is performing well, while China's economy is slowing. Emerging-market economies overall remain firm, and global infrastructure investment is on an expansionary trend.」
Although China's economic slowdown and uncertainty surrounding international affairs continue, the company states that the US economy, emerging-market economies and global infrastructure investment are firm or on an expansionary trend. - FY2020-Q1WorsenedAnnual report
「Overseas, the US economy is performing well, while China's economy is slowing. Emerging-market economies overall remain firm, and global infrastructure investment is on an expansionary trend.」
The company describes China's economic slowdown and, together with the domestic economic disclosure, indicates growing uncertainty in the overseas environment, including the potential prolongation of US-China trade issues. Meanwhile, the US economy, emerging-market economies and global infrastructure investment are described as firm or on an expansionary trend. - FY2019RestatedAnnual report
「Overseas, the US economy is performing well, while China's economy is slowing. Global infrastructure investment is on an expansionary trend, and emerging-market economies remain firm.」
The company cites China's economic slowdown and concern over US-China trade relations, while stating that the US economy, global infrastructure investment and emerging-market economies are firm or on an expansionary trend. - FY2019-Q3RestatedAnnual report
「Overseas, the US economy is performing well, while China's economy is slowing. Global infrastructure investment is on an expansionary trend, and emerging-market economies remain firm.」
The company cites China's economic slowdown and concern over US-China trade relations, while stating that the US economy, global infrastructure investment and emerging-market economies are firm or on an expansionary trend. - FY2019-Q2WorsenedAnnual report
「During the second quarter of the current consolidated cumulative period (1 June 2018 to 30 November 2018), Japan's economy continued on a gradual recovery trend. Although concern related to US-China trade friction and rising US interest rates was increasing, consumption remained firm due to inbound tourism and rising wages, the dollar-yen exchange rate remained stable, corporate earnings expanded and capital investment increased. Overseas, the US and European economies were performing well, while emerging-market economies, including China, remained at high levels.」
With respect to the overseas and domestic economies, the company identifies US-China trade friction and rising US interest rates as concerns, while stating that the US and European economies and emerging-market economies remain at high levels. - FY2019-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period (1 June 2018 to 31 August 2018), Japan's economy was on a recovery trend in corporate earnings, and capital investment was increasing. Although some concern remained over US-China trade friction, the US and European economies were performing well, emerging-market economies including China remained at high levels, and domestic demand was supported by inbound tourism, while the dollar-yen exchange rate remained stable.」
With respect to the overseas and domestic economies, the company identifies US-China trade friction as a new concern, while stating that the global economy overall is performing well and remains on a recovery trend. - FY2018RestatedAnnual report
「The Group is actively expanding into overseas markets, including China. Significant changes in the overseas environment could affect the Group.」
The company reiterates the risk of changes in the overseas environment associated with its active expansion into overseas markets. - FY2018-Q3RestatedAnnual report
「Although some concern about geopolitical risks remains, the global economy, including the US and Europe, has remained firm. Japan's economy is also on a gradual recovery trend, including an improving trend in capital investment. Railway infrastructure investment in China, ASEAN and Japan has also remained firm.」
The company reiterates that although some concern about geopolitical risks remains in the overseas environment, the global economy and railway infrastructure investment in China and ASEAN remain firm. - FY2018-Q2MitigatedAnnual report
「Although some concern about geopolitical risks remains, the global economy, including the US and Europe, has remained firm. Japan's economy is also on a gradual recovery trend, including an improving trend in capital investment. Railway infrastructure investment in China, ASEAN and Japan has also remained firm.」
Although some concern about geopolitical risks remains, the company states that the global economy, including the US and Europe, is firm, as are railway infrastructure investments in China and ASEAN. - FY2018-Q1MitigatedAnnual report
「Although some concerns about geopolitical risks remain, the global economy, including the United States and Europe, has remained firm. In Japan, the economy is on a gradual recovery trend, including an improving trend in capital investment. Railway infrastructure investment in China, ASEAN, and Japan has also remained firm.」
Although some concern about geopolitical risks remains, the company states that the global economy, including the US and Europe, is firm, as are railway infrastructure investments in China and ASEAN. - FY2017-Q3MitigatedAnnual report
「The business environment surrounding the Group during the nine months ended 28 February 2017, from 1 June 2016 to 28 February 2017, improved against a backdrop of the US economic recovery and expectations for the new administration's policies, despite downside risks including the economic slowdown in China and ASEAN.」
The company continues to cite slower economic growth in China and ASEAN as part of the overseas environment, while stating that business sentiment improved against a backdrop of economic recovery in the US and expectations for the new administration. - FY2017-Q2MitigatedAnnual report
「The period began amid caution over the slowdown in China and ASEAN and the UK's departure from the EU, but expectations for the new US president's policies rose rapidly after the US presidential election, and conditions are beginning to improve, with the dollar-yen exchange rate returning to its initial-period level.」
Although uncertainty remains in the overseas environment, the disclosure has shifted from describing an outlook deteriorating across the board to indicating some improvement, supported by expectations for policy after the US presidential election. - FY2017-Q1WorsenedAnnual report
「Overseas, the economic recovery in the United States continued, but uncertainty about the outlook increased due to slower economic growth in China and ASEAN and issues surrounding the United Kingdom's withdrawal from the EU. In Japan, companies became increasingly cautious about capital investment because of uncertainty overseas and the yen's appreciation.」
The company states that uncertainty about the outlook increased due to slower economic growth in China and ASEAN and the UK's departure from the EU. - FY2016First statedAnnual report
「The Group is actively expanding into overseas markets, including China. Significant changes in the overseas environment could affect the Group.」
Changes in the overseas environment associated with the Group's active expansion into overseas markets, including China, are identified as a risk.