Uncertainty over the Outlook for the Global Economy and Domestic Economic Conditions
First written in FY2016-Q3. 18 of 33 entries say "Restated". Latest entry: FY2026-H1.
SK-Electronics moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
84 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「However, the outlook remained uncertain due to persistently high raw-material prices against a backdrop of prolonged geopolitical risks, developments in US trade policy and tariff measures, and volatility in financial markets as the US, Japan, and Europe entered a period of transition in monetary policy.」
In addition to the previously cited geopolitical risks, raw-material prices, US trade policy and tariff measures, volatility in financial markets against a backdrop of monetary-policy transition in the US, Japan, and Europe is explicitly identified as a source of uncertainty. - FY2025WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of a moderate recovery due to improvements in employment and income conditions and corporate earnings. However, the outlook remained uncertain due to the effects of persistently high raw-material prices caused by the prolonged Russia-Ukraine and Middle East situations, continued high interest-rate levels in the US and Europe, developments in US trade policy and tariff measures, and sharp exchange-rate movements.」
In addition to geopolitical conditions, raw-material prices, interest rates in the US and Europe, and exchange-rate movements continuing from the first half of the fiscal year, US tariff measures remained a source of uncertainty throughout the fiscal year for the global and domestic economies. - FY2025-H1WorsenedAnnual report
「However, the outlook remained uncertain due to the effects of higher raw-material prices caused by the prolonged Russia-Ukraine and Middle East situations, continued high interest-rate levels in the US and Europe, developments in US trade policy, and sharp exchange-rate movements.」
In addition to the previously cited Russia-Ukraine and Middle East situations, raw-material prices, interest rates in the US and Europe, and exchange-rate volatility, developments in US trade policy are explicitly added as a new source of uncertainty. - FY2024WorsenedAnnual report
「During the consolidated fiscal year, economic activity showed signs of a moderate recovery as social and economic activity normalized following the COVID-19 pandemic. However, the outlook remained uncertain due to the effects of surging resource and energy prices caused by the prolonged Russia-Ukraine and Middle East situations, persistently high policy rates in the US and Europe to contain inflation, and sharp exchange-rate movements.」
The prolonged Middle East situation is explicitly added to the previously cited Russia-Ukraine situation, while uncertainty over the outlook continues due to resource and energy prices, policy rates, and exchange-rate volatility. - FY2024-Q2RestatedAnnual report
「During the first six months of the fiscal year, economic activity showed signs of a moderate recovery as social and economic activity normalized following the COVID-19 pandemic. However, the outlook remained uncertain due to the effects of surging resource and energy prices stemming from the Russia-Ukraine situation, persistently high policy rates in the US and Europe to contain inflation, and sharp exchange-rate movements.」
While recovery associated with the normalization of social and economic activity is noted, uncertainty over the outlook continues due to the Russia-Ukraine situation, resource and energy prices, policy rates in the US and Europe, and exchange-rate volatility. - FY2023-Q3RestatedAnnual report
「During the first nine months of the fiscal year, economic activity showed signs of a moderate recovery as restrictions related to COVID-19 were eased. However, the outlook remained uncertain due to surging resource and energy prices stemming from the Russia-Ukraine situation, policy-rate increases in the US and Europe to contain inflation, and the resulting sharp exchange-rate movements.」
While a moderate recovery in economic activity is noted, uncertainty over the outlook continues to be cited due to the Russia-Ukraine situation, resource and energy prices, rate increases in the US and Europe, and sharp exchange-rate movements. - FY2023-Q2RestatedAnnual report
「During the first six months of the fiscal year, society moved toward a new phase of living with COVID-19, including the announced easing of restrictions on activities and entry into the country, and economic activity showed signs of recovery. However, the outlook remained uncertain due to surging resource and energy prices stemming from the Russia-Ukraine situation, policy-rate increases in the US and Europe to contain inflation, and the resulting sharp exchange-rate movements.」
While signs of recovery in economic activity due to the easing of restrictions are noted, uncertainty over the outlook continues to be cited due to the Russia-Ukraine situation, resource and energy prices, policy-rate increases, and sharp exchange-rate movements. - FY2023-Q1RestatedAnnual report
「During the first quarter of the fiscal year, economic activity showed signs of recovery as society moved toward a new phase of living with COVID-19, including the easing of restrictions on activities. However, the outlook remained uncertain due to surging resource and energy prices stemming from the Russia-Ukraine situation, policy-rate increases in the US and Europe to address inflation, and the resulting sharp exchange-rate movements.」
While the easing of restrictions related to COVID-19 and signs of recovery in economic activity are noted, uncertainty over the outlook continues due to the Russia-Ukraine situation, resource and energy prices, inflation, policy-rate increases, and sharp exchange-rate movements. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, the number of COVID-19 cases was moving toward containment and economic activity showed signs of recovery. However, the situation involving Russia and Ukraine appeared increasingly protracted, and inflationary pressures continued due to surging resource prices and other factors. Monetary tightening in the US and Europe caused exchange rates to fluctuate significantly, heightening concerns over a global recession, and the outlook remained uncertain.」
While the containment of COVID-19 and signs of recovery in economic activity are noted, concerns over a global recession are explicitly added to the prolonged Russia-Ukraine situation, surging resource prices, inflation, monetary tightening, and exchange-rate volatility. - FY2022-Q3WorsenedAnnual report
「During the first nine months of the fiscal year, the situation in Ukraine appeared increasingly protracted amid the spread of a new COVID-19 variant, while surging resource prices and supply-chain disruptions kept global inflationary pressures elevated. The outlook remained uncertain, with exchange rates also fluctuating significantly as a result.」
The situation in Ukraine, previously described as worsening in the prior quarter, is now explicitly described as increasingly protracted, while uncertainty continues due to the new variant, surging resource prices, supply-chain disruptions, global inflation, and exchange-rate volatility. - FY2022-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan's economy saw inflationary pressures intensify globally as the worsening situation in Ukraine drove up resource prices and disrupted supply chains amid a renewed spread of COVID-19 variants. The outlook remained uncertain, with exchange rates also fluctuating significantly as a result.」
In addition to the previous effects of COVID-19, surging resource prices, supply-chain disruptions, intensifying global inflationary pressures, and significant exchange-rate volatility caused by the worsening situation in Ukraine are cited as new sources of uncertainty. - FY2022-Q1RestatedAnnual report
「During the first quarter of the fiscal year, the number of COVID-19 cases declined as vaccination rates improved, and economic activity showed signs of recovery following the lifting of the state of emergency. However, the outlook for domestic and overseas economies remained uncertain due to the spread of new variants.」
While recovery in economic activity due to higher vaccination rates and the lifting of the state of emergency is noted, uncertainty over the outlook caused by the spread of new variants continues to be cited. - FY2021RestatedAnnual report
「During the consolidated fiscal year, the number of infections declined as vaccination rates improved while states of emergency and priority preventive measures were issued intermittently, and economic activity showed signs of recovery. However, the outlook for domestic and overseas economies remained uncertain due to the impact of highly transmissible variants and other factors.」
While recovery in economic activity due to higher vaccination rates is noted, uncertainty over domestic and overseas economies caused by variants continues to be cited for the full year. - FY2021-Q3Recovery in economic activity and continued uncertainty caused by the fifth wave of infectionsAnnual report
「During the first nine months of the fiscal year, economic activity showed signs of recovery as vaccinations became more widespread. However, the outlook for domestic and overseas economies remained uncertain amid the reissuance of states of emergency in some regions, the implementation of priority preventive measures, and the arrival of the fifth wave of COVID-19 infections.」
Although recovery in economic activity due to wider vaccine coverage is noted, uncertainty over domestic and overseas economies continues due to the reissuance of states of emergency and other measures and the arrival of the fifth wave of infections. - FY2021-Q2WorsenedAnnual report
「During the first six months of the fiscal year, some economic activity showed signs of recovery after the lifting of the state of emergency in May 2020. However, the outlook for domestic and overseas economies remained uncertain as a third state of emergency was declared in some regions following a resurgence in COVID-19 infections.」
The third state of emergency declared in some regions following a resurgence in infections is explicitly noted, and uncertainty over domestic and overseas economies continues. - FY2021-Q1RestatedAnnual report
「During the first quarter of the fiscal year, some economic activity showed signs of recovery as a result of various policies addressing the spread of COVID-19. However, the outlook for domestic and overseas economies remained uncertain due to the prolonged US-China trade dispute and concerns over the impact of a resurgence in COVID-19 infections.」
While some economic activity showed signs of recovery, uncertainty over the outlook for domestic and overseas economies continued due to the prolonged US-China trade dispute and concerns over a resurgence in infections. - FY2020WorsenedAnnual report
「Although some recovery in the economy was expected after the lifting of the state of emergency, the outlook remained uncertain due to the US-China trade dispute and the prolonged effects of COVID-19.」
The prolonged effects of COVID-19 are explicitly noted, and uncertainty over the outlook continued throughout the fiscal year alongside declines in domestic and overseas economies and personal consumption. - FY2020-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan's economy was on a moderate recovery trend, supported by improvements in employment and other factors, despite lingering weakness in corporate earnings and capital investment. However, the global spread of COVID-19 caused domestic and overseas economies and personal consumption to decline, resulting in extremely severe conditions.」
The global spread of COVID-19 caused personal consumption to decline in addition to domestic and overseas economies, and the extremely severe conditions continue to be cited. - FY2020-Q2WorsenedAnnual report
「During the first six months of the fiscal year, Japan's economy was on a moderate recovery trend, supported by improvements in employment and other factors, despite lingering weakness in corporate earnings and capital investment. However, the global spread of COVID-19 caused domestic and overseas economies to deteriorate rapidly, resulting in extremely severe conditions.」
In addition to the previously cited uncertainty over the global and domestic economies, the rapid deterioration of domestic and overseas economies caused by the global spread of COVID-19 and the extremely severe conditions are explicitly noted. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the environment surrounding companies continued to recover moderately, supported by increased capital investment and improvements in employment and income conditions. However, the outlook for the global economy remained uncertain due to the prolonged US-China trade dispute and concerns over geopolitical risks.」
In addition to the prolonged US-China trade dispute, concerns over geopolitical risks are explicitly cited, and uncertainty over the outlook for the global economy continues. - FY2019RestatedAnnual report
「During the consolidated fiscal year, Japan's economy continued to recover moderately overall, with ongoing improvements in employment and income conditions and corporate earnings. However, uncertainty persisted due to the prolonged US-China trade dispute, uncertainty over overseas economies and the economic policies of individual countries, and the impact of volatility in financial and capital markets.」
The disclosure continues to indicate a moderate recovery in the domestic economy while citing uncertainty caused by the prolonged US-China trade dispute, uncertainty in overseas economies and the economic policies of individual countries, and volatility in financial and capital markets. - FY2019-Q3WorsenedAnnual report
「During the first nine months of the fiscal year, Japan's economy continued to recover moderately overall, with ongoing improvements in employment and income conditions and corporate earnings. However, uncertainty persisted due to the prolonged US-China trade dispute, uncertainty in overseas economies, and the impact of volatility in financial and capital markets.」
The prolonged nature of the US-China trade dispute is explicitly noted this time, with uncertainty continuing alongside uncertainty in overseas economies and volatility in financial and capital markets. - FY2019-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy continued to recover moderately overall, with ongoing improvements in employment and income conditions and corporate earnings. However, uncertainty persisted due to developments in US-China trade relations, uncertainty in overseas economies, and the impact of volatility in financial and capital markets.」
The disclosure continues to indicate a moderate recovery in the domestic economy and uncertainty caused by US-China trade relations, uncertainty in overseas economies, and volatility in financial and capital markets. - FY2019-Q1RestatedAnnual report
「During the first quarter of the fiscal year, Japan's economy continued to recover moderately overall, with ongoing improvements in employment and income conditions and corporate earnings. However, uncertainty persisted due to developments in US-China trade relations, uncertainty in overseas economies, and the impact of volatility in financial and capital markets.」
The disclosure continues to indicate a moderate recovery in the domestic economy while citing uncertainty caused by US-China trade relations, uncertainty in overseas economies, and volatility in financial and capital markets. - FY2018RestatedAnnual report
「During the consolidated fiscal year, Japan's economy continued to recover moderately, with improvements in employment and income conditions on the back of government economic measures and the Bank of Japan's monetary easing policy. However, uncertainty persisted amid concerns over an escalation in the US-China trade war.」
The disclosure continues to indicate a moderate recovery in the domestic economy while citing uncertainty caused by the escalation of the US-China trade war. - FY2018-Q3WorsenedAnnual report
「During the first nine months of the fiscal year, Japan's economy continued to recover moderately, with improvements in employment and income conditions on the back of government economic measures and the Bank of Japan's monetary easing policy. However, uncertainty persisted amid concerns over escalating US-China trade friction.」
Concerns over escalating US-China trade friction were cited as a new source of uncertainty in place of the previously cited situation surrounding North Korea, the US administration, and the Chinese economy. - FY2018-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan's economy continued to recover moderately, with improvements in employment and income conditions on the back of government economic measures and the Bank of Japan's monetary easing policy. However, uncertainty persisted due to geopolitical risks surrounding North Korea, US government policy, and developments in the Chinese economy.」
The domestic economy is described as being on a moderate recovery trend, while uncertainty related to North Korea, US government policy, and developments in the Chinese economy continues to be cited. - FY2018-Q1RestatedAnnual report
「During the first quarter of the fiscal year, Japan's economy continued to recover moderately, with improvements in employment and income conditions on the back of government economic measures and the Bank of Japan's monetary easing policy. However, uncertainty persisted due to geopolitical risks surrounding North Korea, US government policy, and developments in the Chinese economy.」
The domestic economy is described as being on a moderate recovery trend, while uncertainty related to North Korea, US government policy, and developments in the Chinese economy continues to be cited. - FY2017-Q3RestatedAnnual report
「During the first nine months of the fiscal year, the global economy remained uncertain due to concerns over a slowdown in China and emerging markets, the situation in Europe surrounding the UK's EU withdrawal issue, and US policy following the presidential election.」
Uncertainty over the outlook for the global economy due to concerns over a slowdown in China and emerging markets, the UK's EU withdrawal issue, and US policy is cited again. - FY2017-Q2RestatedAnnual report
「During the first six months of the fiscal year, the global economy remained uncertain due to concerns over a slowdown in China and emerging markets, the situation in Europe surrounding the UK's EU withdrawal issue, and US policy following the presidential election.」
Uncertainty over the outlook for the global economy due to concerns over a slowdown in China and emerging markets, the UK's EU withdrawal issue, and US policy is cited again. - FY2017-Q1RestatedAnnual report
「During the first quarter of the fiscal year, Japan's economy continued to recover moderately on the back of government economic measures and the Bank of Japan's monetary easing policy. However, the global economy remained uncertain due to concerns over a slowdown in China and emerging markets, the situation in Europe surrounding the UK's withdrawal from the EU, and US policy following the presidential election.」
Uncertainty over the outlook for the global economy due to concerns over a slowdown in China and emerging markets, the UK's EU withdrawal issue, and US policy is cited again. - FY2016RestatedAnnual report
「During the consolidated fiscal year, the US economy maintained a moderate recovery as monetary policy normalization progressed. However, there was no sign of improvement in the slowdown of the Chinese economy, and the outlook remained uncertain amid concerns over China-related risks, a slowdown in emerging-market economies, and a temporary global stock-market sell-off following the victory of the Leave camp in the UK referendum.」
The full-year disclosure continues to cite uncertainty over the outlook due to the slowdown in China and emerging-market economies and the victory of the Leave camp in the UK referendum. - FY2016-Q3First statedAnnual report
「There was no sign of improvement in the slowdown of the Chinese economy, and the victory of the Leave camp in the UK referendum temporarily triggered a global stock-market sell-off, leaving the outlook uncertain.」
The slowdown in China, the global stock-market sell-off following the UK referendum, and the stronger yen and weaker share prices are cited as external factors affecting business performance.