Slowdown and uncertainty in the global and Japanese economies
First written in FY2017-Q2. 6 of 24 entries say "Restated". Latest entry: 2026-04-28.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
58 other companies' latest entry also says "Restated".
- 2026-04-28RestatedResults presentation
「Incorporating allowances of ¥100.0 billion in revenue and ¥30.0 billion in Non-GAAP operating profit in light of component risks and uncertainty in the macroeconomic environment.」
The uncertainty of the macroeconomic environment was included as an assumption underlying the forecast, with allowances set in the revenue and profit forecasts. - FY2025-H1Mixed regional economic conditions and weak domestic demand in JapanAnnual report
「The global economy improved at a moderate pace, with the United States remaining firm while China and Europe remained sluggish. In Japan, capital investment was firm, but personal consumption and exports remained weak.」
The business environment description was updated to reflect the coexistence of strength in the United States and weakness in China and Europe, while capital investment in Japan remained firm and personal consumption and exports were weak. - FY2024-Q3RestatedAnnual report
「Although the global economy continued to improve as the spread of COVID-19 was brought under control, the pace of improvement remained moderate because of the continued impact of high price levels, particularly in Europe and the United States, and previous monetary tightening policies. The Japanese economy improved moderately, led mainly by personal consumption and capital investment.」
The economic environment continues to be described as one in which improvement driven by containment of the infection coexists with a slowdown in the pace of improvement caused by high prices and monetary tightening in Europe and the United States. - FY2024-Q1RestatedAnnual report
「Although the global economy continued to improve as the spread of COVID-19 was brought under control, the pace of improvement remained moderate because of persistently high prices, particularly in Europe and the United States, and monetary tightening policies. The Japanese economy improved moderately, led by domestic demand such as personal consumption and capital investment.」
The discussion continues to describe improvement driven by containment of the infection, alongside a slowdown in the pace of improvement caused by persistently high prices and monetary tightening in Europe and the United States. - FY2023-Q3Slowdown persists amid inflation and monetary tighteningAnnual report
「The global economy slowed because of rapid inflation and tighter monetary policy in Europe and the United States, as well as restrictions on activity in China accompanying the spread of COVID-19. Although prices in Japan continued to rise because of higher energy prices and rapid exchange-rate fluctuations, the economy remained firm as domestic demand, led by personal consumption, recovered with the easing of restrictions on activity.」
Rapid inflation in Europe and the United States, monetary tightening, and China’s restrictions on activity were cited as factors slowing the global economy. In Japan, energy prices and rapid exchange-rate fluctuations continued to rise, while domestic demand was described as having recovered. - FY2023-Q2WorsenedAnnual report
「The global economy slowed somewhat, affected by rising global inflationary pressure due to the worsening situation in Ukraine and other factors, as well as tighter restrictions on activity in China accompanying the spread of COVID-19. Although the Japanese economy improved, led by personal consumption, as restrictions on activity were eased, the pace of improvement remained moderate because of higher energy prices, supply constraints caused by material shortages, and rapid exchange-rate fluctuations.」
Inflationary pressure and China’s restrictions on activity continued to weigh on the global economy, while in Japan, supply constraints, including higher energy prices, and rapid exchange-rate fluctuations newly restrained the pace of improvement. - FY2023-Q1WorsenedAnnual report
「The global economy slowed somewhat, affected by rising global inflationary pressure due to the worsening situation in Ukraine and other factors, as well as tighter restrictions on activity in China accompanying the spread of COVID-19. Although personal consumption in Japan increased as restrictions on activity were eased, the pace of improvement in the Japanese economy remained moderate because of supply constraints caused by shortages of materials and rapid exchange-rate fluctuations.」
Global inflationary pressure and China’s restrictions on activity were identified as factors slowing the global economy, while Japan also faced supply constraints caused by material shortages and rapid exchange-rate fluctuations. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, the economic environment was affected on the supply side by restrictions on economic activity resulting from COVID-19, restrained capital investment, and a global shortage of materials caused by logistics disruptions, as well as higher resource prices resulting from the worsening situation in Ukraine. Nevertheless, demand was stimulated by proactive fiscal policies and the easing of restrictions on economic activity, and the global economy improved moderately overall.」
The shortage of materials caused by logistics disruptions and higher resource prices resulting from the situation in Ukraine were added to the existing risk of an economic slowdown. - FY2022-Q3Supply constraints caused by the semiconductor shortage and a moderate economic recoveryAnnual report
「During the first 9 months of the fiscal year, the global economy improved moderately. Although COVID-19 affected the supply side, including through the semiconductor shortage, demand was stimulated by proactive fiscal policies in major countries and the easing of restrictions on economic activity. The Japanese economy also improved very slowly, despite the impact of repeated declarations of a state of emergency and extensions to those periods, supported by proactive fiscal policies and other measures.」
While supply constraints, including the semiconductor shortage, became more pronounced amid the impact of COVID-19, the global economy improved moderately as fiscal policies and the easing of restrictions in major countries stimulated demand. - FY2022-Q1Improvement in the global economy and gradual improvement in the Japanese economyAnnual report
「Although the impact of COVID-19 (the novel coronavirus disease, hereinafter “COVID-19”) continued, the global economy improved moderately, led by the United States and China, where the spread of infections was coming under control. The Japanese economy improved very slowly, partly because a state of emergency was repeatedly declared in certain regions.」
Although the impact of COVID-19 continued, the global economy improved moderately, led by the United States and China, while the Japanese economy was also described as improving very slowly. - FY2021-Q3Still weak after a recoveryAnnual report
「During the nine months ended in the third quarter, economic conditions in both the global and Japanese economies deteriorated sharply in the first quarter due to the effects of restrictions on movement and the suspension of business and production activities accompanying the global spread of COVID-19. Although conditions recovered somewhat from the second quarter onward, they remained generally weak.」
Although conditions recovered somewhat from the second quarter onward, the global and Japanese economies were described as generally weak amid the effects of COVID-19. - FY2021-Q1MaterialisedAnnual report
「During the first-quarter consolidated cumulative period, economic conditions deteriorated sharply in both the global and Japanese economies due to the effects of restrictions on movement and the suspension of business and production activities accompanying the global spread of COVID-19.」
The previously disclosed risk of a slowdown in the global and Japanese economies materialized as actual economic deterioration caused by restrictions on movement and the suspension of business and production activities due to COVID-19. - FY2020-Q3Weakening domestic demandAnnual report
「During the nine months ended in the third quarter, the global economy slowed, particularly in Europe and China, due to the effects of US-China trade friction and other factors. In Japan, domestic demand remained firm overall, but weakened somewhat after the consumption tax rate increase.」
The global economic slowdown, centered on Europe and China, continued, while domestic demand in Japan was reported to have weakened after the consumption tax rate increase. - FY2020-Q2Continued global economic slowdown and broader regional impactAnnual report
「During the six months ended in the second quarter, the global economy slowed, particularly in Europe and China, due to the effects of US-China trade friction and other factors. In Japan, the economy remained solid, led by domestic demand, despite weak overseas demand.」
The global economic slowdown, centered on Europe and China, continued against a backdrop of US-China trade friction and other factors. The Japanese economy was described as solid, led by domestic demand despite weak overseas demand. - FY2020-Q1Explicit reference to a slowdown caused by US-China trade friction and other factorsAnnual report
「During the first-quarter consolidated cumulative period, the global economy slowed somewhat, particularly in advanced economies and China, amid concerns over US-China trade friction and other factors. In Japan, imports and exports and corporate capital investment remained somewhat weak as overseas economies slowed.」
Concerns over US-China trade friction were explicitly identified as a factor behind the global economic slowdown, while weak imports and exports and corporate capital investment were noted in Japan. - FY2019Global economic slowdown and the emergence of natural disaster impactsAnnual report
「During the consolidated fiscal year, global growth slowed from the previous fiscal year overall, as the United States remained solid but China, Europe and other regions slowed. In Japan, capital investment remained solid against a backdrop of shortages of equipment and labor, but growth slowed from the previous fiscal year due to the effects of a series of natural disasters and the slowdown in overseas economies.」
The strength of the US economy coexisted with a slowdown in China and Europe, while natural disasters and the overseas economic slowdown were cited as factors behind slower growth in Japan. - FY2019-Q3Ongoing concerns over financial and trade policies alongside economic improvementAnnual report
「During the nine months ended in the third quarter, advanced economies remained solid, led by the United States, and emerging economies were also generally firm, but financial markets remained unstable amid growing concerns over US monetary and trade policies and other factors. In Japan, growth in the second-quarter consolidated accounting period temporarily slowed due to a series of natural disasters, but the economy generally continued on a gradual improvement trend.」
Solid performance in the global economy coexisted with financial market instability driven by concerns over US monetary and trade policies. The Japanese economy was described as being on a gradual improvement trend after a temporary slowdown caused by natural disasters. - FY2019-Q2MaterialisedAnnual report
「During the six months ended in the second quarter, the global economy remained solid, particularly in the United States and Europe. Emerging economies were also generally solid, but financial markets became somewhat unstable as currencies fell sharply in some countries. Concerns over trade issues, particularly between the United States and China, also increased. In Japan, stable growth continued, although the growth rate in the second quarter consolidated accounting period slowed somewhat due to the effects of a series of natural disasters.」
The global economy remained solid, but currency declines in some emerging economies, financial market instability and concerns over US-China trade issues emerged. In Japan, natural disasters contributed to slower growth. - FY2018-Q3RestatedAnnual report
「During the nine months ended in the third quarter, the global economy continued to improve gradually overall, despite rising political uncertainty and geopolitical risks in some regions. In Japan, both domestic and external demand remained solid.」
The disclosure continued to cite political uncertainty and geopolitical risks, while noting gradual improvement in the global economy and solid domestic and external demand in Japan. - FY2018-Q2Continued economic improvement, with uncertainty remainingAnnual report
「During the six months ended in the second quarter, the global economy continued to improve gradually overall, despite rising political uncertainty and geopolitical risks in some regions. In Japan, both domestic and external demand remained solid.」
While political uncertainty and geopolitical risks remained, the global economy continued to improve gradually, and both domestic and external demand in Japan were described as solid. - FY2018-Q1Economic improvement alongside political and geopolitical risksAnnual report
「During the first-quarter consolidated cumulative period, the global economy improved gradually, led by advanced economies in Europe and the United States and emerging economies in Asia, despite rising political and geopolitical risks in various regions. The Japanese economy remained solid, supported by higher exports accompanying the improvement in the global economy and increased corporate capital investment, among other factors.」
The global economy saw rising political and geopolitical risks alongside gradual improvement, while the Japanese economy was described as solid due to higher exports and capital investment. - FY2017RestatedAnnual report
「During the consolidated fiscal year, global growth slowed moderately as growth in the United States and Europe decelerated somewhat in the advanced economies amid rising political uncertainty stemming from the United Kingdom's decision to leave the European Union and other factors, while growth in emerging economies was flat due partly to lower resource prices.」
The slowdown in the global economy and political uncertainty continued to be cited as business environment risks. - FY2017-Q3RestatedAnnual report
「During the nine months ended in the third quarter, the pace of global growth remained modest as both advanced and emerging economies slowed and financial markets were unstable amid rising political uncertainty stemming from the United Kingdom's decision to leave the European Union, the US presidential election and other factors. In Japan, domestic demand, including personal consumption and corporate earnings, remained firm despite instability in overseas conditions.」
The business environment continued to include a slowdown in the global economy and uncertainty associated with the United Kingdom's decision to leave the European Union and the US presidential election. The description of the Japanese economy was updated to indicate that it remained firm, led by domestic demand. - FY2017-Q2First statedAnnual report
「During the six months ended in the second quarter, the global economy grew at a modest pace, as growth remained firm in advanced economies such as the United States and Europe, but financial markets were unstable amid rising uncertainty stemming from the decision for the United Kingdom to leave the European Union and other factors. In Japan, both domestic and external demand, including corporate capital investment, public investment and imports and exports, remained weak, in addition to deteriorating sentiment due to the stronger yen and falling share prices.」
The business environment for the period was described as financial market instability caused by the United Kingdom's decision to leave the European Union and other factors, together with weak domestic and external demand in Japan.