Legal, Regulatory, Political and Financial Risks in Emerging Markets
First written in FY2016. 4 of 6 entries say "Materialised", first in FY2019-Q2. Latest entry: FY2025.
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
- FY2025MaterialisedAnnual report
「Inflation accounting adjustment 271,263」
Hyperinflation accounting continues to be applied to the Turkish subsidiary, and an inflation accounting adjustment of ¥271.263 million was recorded as a non-operating expense in the current period. - FY2023-Q2MaterialisedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Group determined that its Turkish subsidiary, whose functional currency is the Turkish lira, was operating in a hyperinflationary economy because Turkey's cumulative inflation rate over 3 years exceeded 100%.」
Regarding financial and economic risks in emerging markets, the disclosure states that Turkey's cumulative inflation rate over 3 years exceeded 100%, leading to a determination that the country was in a hyperinflationary economy. - FY2021RestatedAnnual report
「If economic conditions deteriorate in major overseas markets, or if laws, regulations, tax systems or other rules in countries where the Group operates change, this may affect the Group's operating performance and financial position.」
Changes in economic conditions, laws, regulations, tax systems and other factors in overseas regions, including emerging markets, continue to be identified as risks. - FY2020-Q1MaterialisedAnnual report
「The North American market continued to perform well, but revenue in the Central and South American markets declined because of unstable political conditions and foreign exchange rates, resulting in a slight overall year-on-year decline.」
The disclosure states that lower revenue actually occurred in Central and South American markets, including emerging markets, because of unstable political conditions and foreign exchange rates. - FY2019-Q2MaterialisedAnnual report
「Declines in emerging-market currencies, such as the Turkish lira and Brazilian real, are a factor weighing on operating performance.」
Concerns previously identified as financial and currency risks in emerging markets have materialized as weaker performance due to declines in currencies such as the Turkish lira and Brazilian real. - FY2016First statedAnnual report
「Emerging markets, where economic growth and market expansion are expected, face a wide range of business risks arising from regional characteristics, including changes in laws and regulations, financial conditions, and social and political conditions.」
While growth is expected, the laws and regulations, financial conditions, and social and political conditions of emerging markets are identified as business risks.