Political, Institutional and Economic Risks Associated with the Expansion of Overseas Markets
First written in FY2016. 11 of 24 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
- FY2026Signs of recovery coexist with tariff policies and Middle East concernsAnnual report
「Although the United States implemented sweeping, extreme tariff policies and China introduced countermeasures, signs of recovery were seen in the latter half of the period. Concerns about the outlook intensified as tensions rose in the Middle East.」
Political and economic risks associated with overseas expansion were described in terms of tariff policies, China's countermeasures and the situation in the Middle East, while signs of recovery in the latter half of the period were also noted. - FY2026-H1MaterialisedAnnual report
「The economy remained unstable due to the implementation of sweeping, extreme tariff policies by the United States and countermeasures by China.」
Policy and geopolitical factors previously identified as overseas political and economic risks materialized in the business environment in the form of US tariff policies, China's countermeasures, and economic instability. - FY2025-H1WorsenedAnnual report
「In the United States, consumer spending remained firm while manufacturing tended to be sluggish. In Europe, the economy slowed, while in China, the growth rate declined and economic activity stagnated.」
The sluggishness of US manufacturing, the economic slowdown in Europe, and the decline in China's growth rate and stagnation in economic activity were reported as conditions affecting the overseas economy. - FY2024-Q3Overall slowdown amid signs of recovery in the United States and Europe and concerns over ChinaAnnual report
「Although signs of an economic recovery were seen in the United States and Europe, economic activity slowed overall due to concerns about China's economic outlook.」
The overseas economy was described as showing signs of recovery in the United States and Europe, concerns over China's outlook, and an overall slowdown. - FY2024-Q2Signs of recovery coexist with concerns over EuropeAnnual report
「During the six-month period ended the second quarter of the fiscal year, signs of a recovery in economic activity emerged, as the United States and China showed movements toward economic recovery despite concerns over Europe's economic outlook.」
The overseas economy was described as facing concerns over Europe's economic outlook alongside movements toward recovery in the United States and China. - FY2024-Q1WorsenedAnnual report
「During the three-month period ended the first quarter of the fiscal year, economic activity stagnated in response to weak economic conditions in China and Europe.」
The weak economic conditions in China and Europe and the resulting stagnation in economic activity were reported as factors affecting the economic environment in overseas markets. - FY2023RestatedAnnual report
「Various potential risks exist arising from geopolitical factors, language, customs, and regulations, including legal and tax systems, in areas of operation.」
The geopolitical, institutional, cultural and economic risks associated with overseas expansion were reconfirmed. - FY2023-Q1MaterialisedAnnual report
「Concerns about an economic slowdown intensified as the impact of China's lockdowns was compounded by a rapid increase in resource prices caused by the situation in Russia and Ukraine.」
The situation in Russia and Ukraine and China's lockdowns, identified as risks relating to the overseas political and economic environment, were reflected in the economic environment during the quarter. - FY2022-Q2Continued recovery in overseas economiesAnnual report
「During the six-month period ended the second quarter of the fiscal year, the global economy continued to recover, led by the United States, Europe and China.」
Although political, institutional and economic risks associated with expanding overseas markets remain, the recovery trend in the global economy, led by the United States, Europe and China, was reported for the quarter. - FY2021-Q1MaterialisedAnnual report
「During the three-month period ended the first quarter of the fiscal year, the global economy deteriorated rapidly as the COVID-19 pandemic spread. The Japanese economy also deteriorated significantly due to a sharp decline in exports resulting from the global spread of COVID-19 and a downturn in capital investment accompanying the deterioration in corporate earnings.」
Risks to the global economy, including overseas economies, exports and capital investment materialized in the form of the spread of COVID-19 and economic deterioration. - FY2020RestatedAnnual report
「Our group has identified globalization as one of the initiatives in its medium-term management plan. However, expanding operations in overseas markets entails various potential risks arising from geopolitical factors, language, customs, and regulations in areas of operation, including legal and tax systems.」
The geopolitical, cultural, legal and tax-related risks associated with expanding overseas markets were reassessed and documented. - FY2020-Q3MaterialisedAnnual report
「During the nine-month period ended the third quarter of the fiscal year, the global economy remained stagnant, despite a partial agreement in US-China trade negotiations, with China recording its lowest economic growth rate since 1992.」
US-China trade negotiations and stagnation in the Chinese economy were identified as overseas political and economic factors, and their impact on the business environment was reflected in sluggish demand growth in major sales markets. - FY2020-Q2MaterialisedAnnual report
「The downturn continued amid prolonged US-China trade tensions and a decline in global IT-related demand. In addition to sluggish exports accompanying the slowdown in overseas economies, the deterioration in corporate earnings led to lower capital investment, and conditions remained lacklustre.」
The prolonged US-China trade tensions and decline in global IT-related demand were identified as overseas political and economic factors, and their impact on the business environment was reflected in sluggish exports and capital investment. - FY2020-Q1MaterialisedAnnual report
「The economy remained stagnant throughout the period due to factors including declining global trade volumes and prolonged US-China trade tensions. Against a backdrop of a sharp slowdown in the Chinese economy, demand declined significantly in industries including machine tools, robots and semiconductor manufacturing equipment.」
The prolonged US-China trade tensions and sharp slowdown in the Chinese economy were identified as overseas political and economic factors, and their impact on the business was reflected in declining demand in major industries. - FY2019-Q3MaterialisedAnnual report
「Exports related to capital investment slowed due to the impact of US-China trade tensions. In addition to prolonged production adjustments by manufacturers of semiconductor production equipment, capital investment in China declined due to US-China trade tensions, resulting in a substantial decrease in orders.」
As an overseas political and economic factor, US-China trade tensions continued to affect the business environment, with the downturn in Chinese capital investment and the decline in orders reflecting their impact in practice. - FY2019-Q2MaterialisedAnnual report
「As capital investment overall in China trended downward amid US-China trade tensions and orders were sluggish, orders received were ¥41,776 million, down 14.0% year on year, and the order backlog was ¥19,886 million, down 5.3% year on year.」
US-China trade tensions were explicitly identified as an overseas political and economic factor, with their impact described in the form of reduced capital investment in China and declining orders. - FY2019-Q1Broad-based recovery, with some stagnation in the Chinese marketAnnual report
「Exports remained firm, while capital investment also remained firm as corporate earnings improved, and the economy continued on a gradual recovery trend. Although some parts of the Chinese market showed signs of stagnation, demand remained strong.」
While the overall recovery trend, including overseas economies and the export environment, continued, the filing noted signs of stagnation in parts of the Chinese market. - FY2018-Q3RestatedAnnual report
「During the nine months ended the third quarter, the Japanese economy recovered steadily, with exports remaining strong and domestic demand, including capital investment, remaining firm as corporate performance improved.」
The recovery trend in the economic environment, including overseas economies and the export environment, which had continued since the second half of the previous fiscal year, was reaffirmed. - FY2018-Q1RestatedAnnual report
「During the three-month cumulative consolidated period, the Japanese economy continued on a gradual recovery trend as the yen's appreciation eased and corporate earnings improved with the recovery of overseas economies.」
The trend of an easing of the yen's appreciation and a recovery in overseas economies described in the second half of the previous fiscal year continued into the first quarter. - FY2017Stagnation in the first half, recovery in the second halfAnnual report
「During the fiscal year, the Japanese economy stagnated in the first half due to the stronger yen and the slowdown in emerging-market economies. In the second half, the yen's appreciation eased and corporate earnings improved as overseas economies recovered, resulting in a gradual recovery trend.」
While risks related to overseas markets, including the stronger yen and the slowdown in emerging-market economies, emerged in the first half, recovery factors were also described in the second half. - FY2017-Q3MaterialisedAnnual report
「During the nine-month cumulative consolidated period, although the market was recovering, the Japanese economy also showed delays in its recovery, including a slowdown in emerging-market economies and the resulting moderation in capital investment.」
The slowdown in emerging-market economies and the moderation in capital investment continued to be described as conditions in the economic environment during the period. - FY2017-Q2MaterialisedAnnual report
「The Japanese economy continued to stagnate as the yen appreciated and emerging-market economies slowed, causing exports to stagnate and capital investment to slow.」
Risks in the economic environment, including the stronger yen and the slowdown in emerging-market economies, continued to appear as stagnation in exports and capital investment. - FY2017-Q1MaterialisedAnnual report
「The Japanese economy continued to stagnate due to the appreciation of the yen and the slowdown in emerging-market economies, including China.」
A slowdown in the economic environment, including overseas markets, appeared in the actual business explanation as a factor behind declining demand in major sales markets. - FY2016First statedAnnual report
「Our group regards expanding its business in overseas markets as one of its strategies. However, our group faces various barriers in a range of overseas markets.」
Exchange-rate policies, investment and remittance restrictions, import and export regulations, tax systems, and economic, social, and political risks were listed as barriers to overseas operations.