Uncertainty over the outlook due to yen appreciation, falling share prices and the economic slowdown in emerging Asian countries and elsewhere
First written in FY2017-Q1. 24 of 38 entries say "Reframed", first in FY2017-Q3. Latest entry: 2026-10-30.
Togami Electric Mfg. 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 2020: 151 of 176 companies on the "Worse" side.
5 other companies' latest entry also says "Mitigated".
- FY2026WorsenedAnnual report
「Regarding future economic trends, employment and income conditions in Japan are expected to continue improving, with signs of a recovery in corporate earnings and progress in passing through costs to prices. However, the outlook is expected to remain uncertain due to concerns including persistently high raw material and energy prices and worsening procurement conditions against the backdrop of escalating tensions in the Middle East, together with rising labor costs.」
In addition to raw material and energy prices, China's economy and US trade policies, escalating tensions in the Middle East, worsening procurement conditions and rising labor costs were identified as specific factors contributing to uncertainty. - 2026-05-08ReframedEarnings
「当連結会計年度における我が国経済は、雇用や所得環境の改善により緩やかな回復基調で推移いたしましたが、原材料・エネルギー価格の高止まりや中国経済の停滞、中東情勢の緊迫化や米国の関税政策など、依然として先行き不透明な状況が続いております。」
先行き不透明感は継続し、要因として中東情勢の緊迫化と米国の関税政策が明示された。 - FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period under review, Japan's economy continued on a moderate recovery track due to improvements in employment and income conditions. However, the outlook remains uncertain due to persistently high raw material and energy prices, China's economic stagnation and the impact of US trade policies.」
Although uncertainty over the outlook has continued, persistently high raw material and energy prices, China's economic stagnation and the impact of US trade policies were identified as specific factors this time. - FY2025WorsenedAnnual report
「Regarding future economic trends in Japan and overseas, persistently high raw material and energy prices, unstable supply-chain and foreign-exchange conditions and other factors are expected to continue for the time being, against the backdrop of US tariff policies, stagnation in China's economy, the prolonged Russia-Ukraine conflict and worsening conditions in the Middle East. In Japan's labor market, labor costs are expected to rise further and labor shortages to worsen due to improvements in employment conditions and the effects of the declining birth rate.」
US tariff policies, China's economic stagnation, the Russia-Ukraine conflict and conditions in the Middle East were cited as factors contributing to uncertainty, along with raw material and energy prices, supply chains, foreign exchange, labor costs and labor shortages, broadening the range of risk factors. - FY2025-H1ReframedAnnual report
「During the interim consolidated accounting period under review, Japan's economy continued on a moderate recovery track due to improvements in employment and income conditions. However, the outlook remains uncertain due to persistently high raw material and energy prices, soaring labor costs and the slowdown in China's economy.」
Although uncertainty over the outlook has continued, persistently high raw material and energy prices, soaring labor costs and the slowdown in China's economy were identified as factors this time. - FY2024-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy continued on a moderate recovery track as economic activity normalized amid improvements in employment and income conditions. However, the outlook remains uncertain due to persistently high raw material and energy prices, volatility in financial and capital markets and the slowdown in China's economy.」
Although uncertainty over the outlook has continued, the factors cited shifted from rising prices against the backdrop of persistently high resource prices, global monetary tightening and the weaker yen in the previous quarter to persistently high raw material and energy prices, volatility in financial and capital markets and the slowdown in China's economy. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy remained uncertain due to persistently high resource prices, global monetary tightening and rising prices against the backdrop of the weaker yen. However, economic activity normalized as employment and income conditions improved, and the economy continued on a moderate recovery track.」
Although uncertainty over the outlook has continued, the factors cited shifted from the situation in Ukraine, resource and material prices and energy prices in the previous quarter to persistently high resource prices, global monetary tightening and rising prices against the backdrop of the weaker yen. - FY2024-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan's economy showed signs of an economic recovery as economic activity normalized following the reclassification of COVID-19 as a Class 5 infectious disease. However, the outlook remains uncertain due to soaring resource and material prices and persistently high energy prices against the backdrop of the prolonged situation in Ukraine.」
While normalization of economic activity following the reclassification of COVID-19 as a Class 5 infectious disease was identified, the prolonged situation in Ukraine, soaring resource and material prices and persistently high energy prices were identified as new factors contributing to uncertainty. - FY2023ReframedAnnual report
「Although signs of an economic recovery are expected as the impact of COVID-19 eases, the outlook for the global economy is expected to remain uncertain due to the effects of global monetary tightening and rising prices.」
Although expectations for an economic recovery resulting from the easing impact of COVID-19 were identified, the description of the factors contributing to uncertainty shifted to global monetary tightening, rising prices, supply-chain disruptions and increasing instability in global conditions. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy showed signs of an economic recovery, partly due to the effects of various policies, including the easing of restrictions on activity, amid the prolonged impact of COVID-19. However, the outlook remains uncertain due to soaring raw material prices, escalating tensions surrounding Ukraine and exchange-rate fluctuations caused by the weaker yen.」
While signs of an economic recovery were seen, uncertainty over the outlook continued due to soaring raw material prices, the situation in Ukraine and exchange-rate fluctuations caused by the weaker yen. - FY2023-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy remained uncertain. Although signs of an economic recovery emerged temporarily, partly due to the effects of various policies amid the prolonged impact of COVID-19, infections resurged due to new variants, and the economy was affected by soaring raw material prices, escalating tensions surrounding Ukraine and exchange-rate fluctuations caused by the weaker yen.」
Uncertainty over the outlook, the prolonged COVID-19 pandemic, new variants, soaring raw material prices, the situation in Ukraine and exchange-rate fluctuations caused by the weaker yen have continued. The description of the factors supporting the economic recovery was reorganized from vaccinations and the easing of restrictions on activity in the previous quarter to the effects of various policies. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan's economy remained uncertain. Although signs of an economic recovery emerged temporarily as vaccinations spread and restrictions on activity were eased amid the prolonged impact of COVID-19, infections resurged due to new variants, and the economy was affected by soaring raw material prices, escalating tensions surrounding Ukraine and exchange-rate fluctuations caused by the weaker yen.」
In addition to the prolonged pandemic, its resurgence due to new variants, soaring raw material prices and escalating tensions surrounding Ukraine, exchange-rate fluctuations caused by the weaker yen were identified as a new factor contributing to uncertainty. - FY2022WorsenedAnnual report
「During the fiscal year under review, Japan's economy remained uncertain as infections resurged due to new variants, despite signs of an economic recovery at one point as vaccination progressed, and the impact of soaring raw material prices and escalating tensions surrounding Ukraine continued.」
Escalating tensions surrounding Ukraine were added as a factor contributing to uncertainty, in addition to the previously cited pandemic, semiconductor shortage and soaring raw material prices. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter under review, Japan's economy remained uncertain as infections resurged due to new variants, despite signs of an economic recovery at one point as vaccination progressed and the number of infections declined, and the impact of the global semiconductor shortage and soaring raw material prices continued.」
While vaccinations and temporary signs of an economic recovery were identified, the resurgence of infections due to new variants was added, and uncertainty over the outlook continued alongside the semiconductor shortage and soaring raw material prices. - FY2022-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy remained in extremely difficult conditions due to the prolonged impact of COVID-19, as well as a global semiconductor shortage and soaring raw material prices. Although signs of an economic recovery from the pandemic emerged, partly due to the spread of vaccinations and the lifting of the state of emergency, the end of the pandemic remains unforeseeable and the outlook remains uncertain.」
While the impact of COVID-19 has continued for an extended period and the semiconductor shortage and soaring raw material prices have persisted, signs of an economic recovery resulting from the spread of vaccinations and the lifting of the state of emergency were also identified. The end of the pandemic remains unforeseeable, and uncertainty over the outlook continues. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan's economy remained in extremely difficult conditions due to stagnation in capital investment and other activity resulting from COVID-19, as well as a global semiconductor shortage and soaring raw material prices. Although signs of a moderate recovery emerged as vaccination progressed, supported by the effects of various policies and improvements in overseas economies, the outlook remains uncertain as infections have begun to spread again and the end of the pandemic remains unforeseeable.」
In addition to stagnation in capital investment caused by COVID-19, the global semiconductor shortage and soaring raw material prices were identified as new concerns. Although signs of an economic recovery were seen, the resurgence of infections and uncertainty over the end of the pandemic were also noted. - FY2021-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy remained in extremely difficult conditions as economic activity, including personal consumption and capital investment, stagnated due to the impact of COVID-19. Although signs of a moderate recovery emerged after the state of emergency was lifted, partly due to the effects of various policies, the end of the pandemic remains unforeseeable and the outlook remains uncertain.」
It was stated that although signs of an economic recovery have emerged, the end of the pandemic remains unforeseeable and uncertainty over the outlook continues. - FY2021-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy remained in extremely difficult conditions as economic activity, including personal consumption and capital investment, stagnated due to the impact of COVID-19. Although signs of a moderate recovery in the economy emerged after the state of emergency was lifted, partly due to the effects of various policies, the outlook remains uncertain.」
While the stagnation of economic activity and difficult conditions caused by COVID-19 have continued, signs of an economic recovery after the state of emergency was lifted were newly identified. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter under review, Japan's economy remained in extremely difficult conditions as economic activity, including personal consumption and capital investment, stagnated due to the impact of COVID-19. Although economic activity resumed after the state of emergency was lifted, with measures taken to prevent the spread of infection, restrictions on movement continued to suppress economic activity, and it is expected to take a considerable amount of time to normalize.」
The previously cited uncertainty over the outlook had materialized as stagnation in personal consumption and capital investment due to COVID-19, and it was stated that economic activity would also take time to normalize. - FY2020WorsenedAnnual report
「The outlook for the global economy is expected to remain uncertain due to the prolonged trade friction between the United States and China, the UK's exit from the EU and the spread of COVID-19.」
The spread of COVID-19 was added as a factor contributing to uncertainty, in addition to the previously cited trade friction between the United States and China and the UK's exit from the EU. - FY2020-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy generally continued on a moderate recovery track, supported by improvements in employment and income conditions, although signs of a further slowdown were seen in corporate production and exports, particularly in manufacturing. Meanwhile, the outlook remains uncertain due to concerns including developments surrounding trade issues, the outlook for China's economy and uncertainty surrounding overseas economies resulting from the UK's exit from the EU.」
Although uncertainty over the outlook has continued, a further slowdown in manufacturing production and exports was identified, and trade issues, the outlook for China's economy and the UK's exit from the EU were cited as concerns. - FY2020-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy generally continued on a moderate recovery track, supported by improvements in corporate earnings and employment and income conditions, although signs of a slowdown were seen in corporate production and exports. Meanwhile, the outlook remains uncertain due to concerns including the prolonged trade friction between the United States and China and uncertainty surrounding overseas economies resulting from the UK's exit from the EU.」
Although uncertainty over the outlook has continued, uncertainty surrounding overseas economies resulting from the UK's exit from the EU was cited in addition to the prolonged trade friction between the United States and China. - FY2020-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan's economy generally continued on a moderate recovery track, supported by improvements in corporate earnings and employment and income conditions, although signs of a slowdown were seen in corporate production and exports. Meanwhile, the outlook remains uncertain due to concerns including uncertainty surrounding overseas economies and the impact of trade friction between the United States and China.」
Uncertainty over the outlook and concerns over trade friction between the United States and China continued, while this filing identified signs of a slowdown in corporate production and exports as new concerns. - FY2019ReframedAnnual report
「The outlook for the global economy is expected to remain uncertain due to the prolonged trade friction between the United States and China and turmoil in Europe's political and economic conditions resulting from the UK's exit from the EU.」
The prolonged trade friction between the United States and China, as well as the UK's exit from the EU and the resulting turmoil in Europe's political and economic conditions, were cited as factors contributing to uncertainty over the outlook. - FY2019-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy generally continued on a moderate recovery track, supported by improvements in corporate earnings and employment and income conditions. However, the outlook remains uncertain due to concerns including uncertainty surrounding overseas economies and the impact of trade friction between the United States and China.」
Although uncertainty over the outlook has continued, the factor previously described as US trade policies and trade friction was made more specific as the impact of trade friction between the United States and China. - FY2019-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy generally continued on a moderate recovery track, supported by improvements in corporate earnings and employment and income conditions. However, the outlook remains uncertain due to concerns including uncertainty surrounding overseas economies and the impact of trade friction arising from US trade policies.」
Although uncertainty over the outlook has continued, the impact of trade friction arising from US trade policies was cited in addition to uncertainty surrounding overseas economies. - FY2019-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan's economy generally continued on a moderate recovery track, supported by improvements in corporate earnings and employment and income conditions. However, the outlook remains uncertain due to concerns including uncertainty surrounding overseas economies and the impact of the US administration's policies.」
Although uncertainty over the outlook has continued, uncertainty surrounding overseas economies and the impact of the US administration's policies were cited as factors. - FY2018ReframedAnnual report
「Looking ahead, the economy is expected to remain on a moderate recovery track for the time being, supported by improvements in employment conditions and the effects of the government's economic policies. However, uncertainty is expected to continue due to the still-high uncertainty surrounding overseas economies and geopolitical risks, as well as an economic slowdown after the Tokyo Olympics.」
Although uncertainty over the outlook has continued, an economic slowdown after the Tokyo Olympics was identified as a specific concern, in addition to uncertainty surrounding overseas economies and geopolitical risks. - FY2018-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy remained uncertain due to the uncertainty surrounding overseas economies and the emergence of geopolitical risks. Overall, however, it continued on a moderate recovery track, supported by improvements in employment and income conditions and the effects of various policies.」
Although uncertainty over the outlook has continued, the factors cited were reorganized from US policy management and the North Korean issue to uncertainty surrounding overseas economies and geopolitical risks in general. - FY2018-Q2ReframedAnnual report
「During the cumulative second quarter under review, Japan's economy remained uncertain due to the emergence of geopolitical risks, including US policy management and the North Korean issue. Overall, however, it continued on a moderate recovery track, supported by improvements in employment and income conditions.」
Although uncertainty over the outlook has continued, geopolitical risks, including US policy management and the North Korean issue, were cited as factors. - FY2018-Q1ReframedAnnual report
「During the cumulative first quarter under review, Japan's economy remained uncertain due to unstable overseas political conditions and the emergence of geopolitical risks. Overall, however, it continued on a moderate recovery track, supported by improvements in employment and income conditions.」
Although uncertainty over the outlook has continued, the factors cited have shifted from the stronger yen, falling share prices and emerging Asian economies to unstable overseas political conditions and the emergence of geopolitical risks. - FY2017WorsenedAnnual report
「Looking ahead, Japan's domestic economy is expected to recover moderately, although uncertainty surrounding emerging Asian economies, including China, and the outlook for the global economy is expected to increase further.」
It was stated that uncertainty surrounding emerging Asian economies, including China, and the outlook for the global economy is expected to increase further. - FY2017-Q3ReframedAnnual report
「During the cumulative third quarter under review, Japan's economy continued on a moderate recovery track overall, despite being affected by the uncertain outlook for the global economy, including concerns over downside risks in China and other emerging Asian economies and the US presidential election.」
Although uncertainty over the outlook has continued, the specific factors cited have shifted from the previously mentioned stronger yen and falling share prices to concerns over downside risks in emerging Asian economies, including China, and the US presidential election. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy continued on a moderate recovery track. However, the stronger yen and falling share prices have weighed on personal consumption and stalled improvements in corporate earnings, and the outlook remains uncertain.」
The outlook remains uncertain, including due to sluggish personal consumption and stalled improvements in corporate earnings resulting from the stronger yen and falling share prices. - FY2017-Q1First statedAnnual report
「Although the stronger yen and falling share prices have constrained improvements in corporate earnings, the outlook remains uncertain due to economic slowdowns in emerging Asian economies and resource-rich countries, including China.」
Uncertainty in the external environment, the stronger yen and overseas economic slowdowns were identified as business risk factors.