Global Economic Risks Associated with High Overseas Sales Ratios
First written in FY2016. 19 of 34 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-07-31.
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
- 2026-07-31WorsenedEarnings
「Although raw-material prices and logistics costs rose amid escalating tensions in the Middle East and uncertainty surrounding the trade policies of various countries persisted, conditions remained generally steady.」
The situation in the Middle East, raw-material and logistics costs, and uncertainty surrounding the trade policies of various countries were identified as factors causing fluctuations in the global economy during the quarter. - FY2026WorsenedAnnual report
「During the fiscal year, the global economy remained highly uncertain, affected by developments in the financial and trade policies of various countries, heightened geopolitical risks, and additional tariffs imposed by the United States, among other factors.」
Regarding global economic risks related to reliance on overseas sales, monetary and trade policies, geopolitical risks and additional U.S. tariffs continued and became more concrete as sources of uncertainty. - 2026-04-30RestatedRevision of earnings forecasts
「During the fiscal year, the global economy remained highly uncertain, affected by developments in the financial and trade policies of various countries, heightened geopolitical risks, and additional tariffs imposed by the United States, among other factors.」
The uncertainty surrounding the global economy due to financial and trade policies, geopolitical risks, and additional U.S. tariffs was reaffirmed. - FY2026-H1WorsenedAnnual report
「The business environment during the current interim consolidated accounting period remained highly uncertain due to policy shifts in various countries, heightened geopolitical risks and the impact of additional U.S. tariffs. Compared with the same period of the previous year, higher sales and operating profit were pushed down by the stronger yen.」
Regarding risks associated with reliance on overseas sales and the global economy, the report specifically described policy shifts in various countries, heightened geopolitical risks, additional U.S. tariffs and the negative impact of the stronger yen on performance. - FY2025WorsenedAnnual report
「Overseas sales accounted for 88.8% of sales in the current fiscal year.」
The overseas sales ratio rose from 88.4% in the previous fiscal year to 88.8%, further increasing the quantified sales exposure to economic fluctuations in markets around the world. - FY2024-Q3Changes in regional economic conditionsAnnual report
「During the first nine months of the current fiscal year, concerns arose over downward pressure on the economy from inflation as policy rates remained elevated in various countries, although the global economy as a whole recovered gradually. By region, personal consumption in the United States was gradually losing momentum but remained relatively firm against a backdrop of favorable employment conditions. In Europe, the high inflation rate had declined from its peak, but the economy remained stagnant. In China, economic stagnation continued against a backdrop that included a sluggish real estate market, despite the introduction of numerous economic stimulus measures. In Japan, although prices continued to rise, the economy was on a gradual recovery trend, driven by a recovery in inbound demand.」
The global economy recovered gradually overall, while changes in conditions by region were described, including slower personal consumption in the United States, economic stagnation in Europe and economic weakness in China. - FY2024-Q2WorsenedAnnual report
「During the first six months of the current fiscal year, concerns arose over downward pressure on the economy from persistently high policy rates and inflation, and the recovery showed signs of weakness, although the global economy as a whole recovered gradually. By region, personal consumption in the United States remained firm against a backdrop of favorable employment conditions. In Europe, high inflation and rising interest rates continued, and the economy remained stagnant. In China, although domestic demand was expected to recover following the lifting of the zero-COVID policy, the economic recovery continued to lack momentum against a backdrop that included a sluggish real estate market.」
The global economy showed a gradual recovery, while the report specifically described downward pressure from policy rates and inflation, economic stagnation in Europe, and a lack of momentum in China's recovery. - FY2024-Q1Easing supply constraints alongside persistent uncertaintyAnnual report
「During the first three months of the current fiscal year, supply restrictions caused by supply chain disruptions and semiconductor shortages eased, and the economy continued to recover gradually. However, uncertainty persisted, with the yen weakening as central banks in various countries raised interest rates primarily to combat inflation.」
It was stated that supply restrictions caused by supply chain disruptions and semiconductor shortages had eased, while uncertainty related to interest-rate hikes by central banks in various countries, the weaker yen and inflation persisted. - FY2023WorsenedAnnual report
「Overseas sales accounted for 88.4% of sales in the current fiscal year.」
The overseas sales ratio rose from 82.0% in the previous fiscal year to 88.4%, quantitatively increasing sales exposure to economic fluctuations in markets around the world. - FY2023-Q3RestatedAnnual report
「During the first nine months of the current fiscal year, the global economy showed a gradual recovery as restrictions on activity, logistics supply and demand, and semiconductor shortages related to COVID-19 eased. However, uncertainty about the outlook persisted due to rising resource prices resulting from the situation in Ukraine, accelerating inflation and monetary tightening policies by central banks in various countries.」
The global economy began to recover as restrictions on activity, logistics supply and demand, and semiconductor shortages eased, while uncertainty related to the situation in Ukraine, resource prices, inflation and monetary tightening persisted. It was stated that there had been no material changes in business or other risks. - FY2023-Q2WorsenedAnnual report
「During the first six months of the current fiscal year, personal consumption continued to recover as restrictions on activity related to the spread of COVID-19 were eased. However, uncertainty persisted due to the ongoing global semiconductor shortage, tight logistics supply and demand, soaring energy prices such as crude oil and natural gas amid the prolonged situation in Ukraine, the rapid depreciation of the yen, and accelerating inflation.」
While economic activity recovered, uncertainty surrounding reliance on overseas sales increased as semiconductor shortages, tight logistics supply and demand, soaring energy prices related to the situation in Ukraine, the rapid depreciation of the yen and accelerating inflation coincided. - FY2023-Q1Changes in regional economic conditionsAnnual report
「During the first three months of the current fiscal year, the global economy continued to recover as restrictions on activity were eased, despite concerns about a renewed spread of COVID-19. However, uncertainty persisted due to the ongoing global semiconductor shortage, tight logistics supply and demand, soaring energy costs such as crude oil and natural gas amid the worsening situation in Ukraine, and accelerating inflation.」
The global economy continued to recover as restrictions on activity were eased, while semiconductor shortages, tight logistics supply and demand, soaring energy costs related to the situation in Ukraine, and accelerating inflation persisted. - FY2022WorsenedAnnual report
「Overseas sales accounted for 82.0% of sales in the current fiscal year.」
The overseas sales ratio rose from approximately 80.9% to 82.0%, continuing to indicate exposure to economic fluctuations in markets around the world. - FY2022-Q3WorsenedAnnual report
「In addition, the impact of the semiconductor shortage from the previous fiscal year did not subside, while supplies of components other than semiconductors also became unstable. Supply chain disruptions continued to worsen, and automobile manufacturers in particular continued to revise their production plans.」
Regarding risks associated with exposure to the global economy, it was stated that the semiconductor shortage had not subsided and that unstable supplies of other components and increasingly severe supply chain disruptions continued. - FY2022-Q2WorsenedAnnual report
「During the first six months of the current fiscal year, the global economy showed a gradual recovery as economic activity resumed, particularly in Europe and the United States, following the rollout of COVID-19 vaccines. However, the outlook remained uncertain as infections with new variants spread even in Europe and the United States, where vaccination had progressed, while lockdowns expanded in ASEAN, a hub for component manufacturers, where vaccination rates remained low. In the electronic components industry, the impact of the semiconductor shortage, which had become apparent in the previous fiscal year, expanded. In addition, supply of components other than semiconductors became unstable, further aggravating supply chain disruptions, and automobile manufacturers in particular continued to revise their production plans.」
While the global economy showed signs of recovery, economic and supply chain risks affecting overseas operations intensified due to new variants, lockdowns in ASEAN, semiconductor shortages and unstable supplies of components other than semiconductors. - FY2022-Q1WorsenedAnnual report
「However, supply chain disruptions caused by factory shutdowns, increased stay-at-home demand and semiconductor shortages accompanying the rapid economic recovery continued to spread and worsen across regions, particularly in the ASEAN region.」
Regarding global economic risks, the disclosure stated that although economic activity was recovering, semiconductor shortages and supply chain disruptions were spreading and worsening, particularly in the ASEAN region. - FY2021-Q3Changes in regional economic conditionsAnnual report
「During the third-quarter cumulative period, the global economy changed substantially due to COVID-19. In the United States, the effects of economic measures addressing the impact of the spread of infections became apparent, and the economy showed signs of recovery as personal consumption increased. In Europe, personal consumption recovered moderately as lockdowns were eased in various countries, but the economy as a whole remained weak. In China, following the resumption of economic activity in March 2020, the economy continued to recover, led mainly by manufacturing and personal consumption. In Japan, personal consumption recovered on the back of various government support measures, and exports, particularly in manufacturing, began to recover, but the economy remained weak as COVID-19 infections began to spread again.」
Regarding global economic risks, the disclosure described regional changes, with signs of recovery in the United States and China, a generally weak economy in Europe, and weakness in Japan due to the renewed spread of infections. - FY2021-Q2Changes in regional economic conditionsAnnual report
「During the second-quarter cumulative period, the global economy showed signs of recovery in the United States as consumption began to recover amid the continuing spread of COVID-19, supported by the effects of economic measures. Europe also showed signs of recovery, but became weaker due to the impact of a resurgence in COVID-19 infections. In China, the recovery continued, supported by the resumption of economic activity from March 2020 and economic measures by the Chinese government.」
Regarding global economic risks, the disclosure described changing regional conditions, with signs of recovery in the United States and China, while Europe weakened due to a resurgence in infections. - FY2021-Q1WorsenedAnnual report
「During the first-quarter cumulative period, the global economy remained weak. In the United States, the impact of the COVID-19 pandemic was significant, and consumption declined due to restrictions on going out and other measures. Europe was also significantly affected by the spread of COVID-19, with consumption declining due to lockdowns in major cities and the economy remaining sluggish. In China, economic activity gradually resumed from March, but the economic impact of COVID-19 was expected to be prolonged and the economy remained sluggish. In Japan, the state of emergency declared from April through late May had a significant impact. Although the government introduced measures to support economic recovery, the weakness in personal consumption had a major effect, and the economy remained generally weak.」
Regarding global economic risks associated with dependence on overseas sales, the disclosure cited economic weakness caused by COVID-19 across a broad range of regions, including the United States, Europe, China and Japan. - FY2020WorsenedAnnual report
「Overseas sales accounted for approximately 80.9% of sales for the fiscal year. In addition, because most of the Group's products are sold to domestic and overseas manufacturers that are its customers, changes in customers' sales conditions driven by global economic trends could significantly affect the Group's business.」
The disclosure continued to report dependence on the global economy, with overseas sales accounting for approximately 80.9%, while also noting the impact of the COVID-19 pandemic on regional economies and production stoppages. - FY2020-Q3RestatedAnnual report
「In Europe, the recovery in exports was delayed by the global economic slowdown, while continuing disruption related to Brexit also adversely affected the economy. In China, exports to the United States declined due to trade friction, and the economy remained sluggish amid declining personal consumption and other factors.」
The disclosure continued to cite Europe's delayed export recovery, disruption related to Brexit, and China's economic stagnation caused by trade friction and declining personal consumption. - FY2020-Q2WorsenedAnnual report
「In Europe, the economy remained sluggish in the United Kingdom amid continuing disruption related to Brexit, while Germany also remained in negative territory as it was affected by the global economic slowdown. In China, although economic stimulus measures were being introduced, exports continued to slow due to trade friction with the United States, leaving the situation uncertain.」
Regarding global economic risks associated with dependence on overseas sales, the disclosure cited Europe's economic stagnation, Germany's negative trend, and China's slowing exports and trade friction. - FY2020-Q1WorsenedAnnual report
「In China, the economy remained stagnant, owing to weak corporate capital investment and declining imports.」
Regarding global economic risks associated with dependence on overseas sales, the disclosure cited continuing economic stagnation in China due to weak capital investment and declining imports. - FY2019-Q3WorsenedAnnual report
「In the United States, personal consumption expanded and corporate activity remained strong on the back of favorable employment and income conditions, although signs of a slowdown emerged toward year-end. Europe also remained resilient, but signs of an economic slowdown similarly intensified, while China's economy continued to slow, partly due to trade friction.」
Regarding global economic risks associated with the high overseas sales ratio, the disclosure cited signs of a slowdown in the United States and Europe and China's continuing slowdown amid trade friction. - FY2019-Q2WorsenedAnnual report
「In China, the slowdown in growth continued, while escalating trade friction became a concern for the outlook for the global economy.」
Although the business and other risks section indicated no material changes, the business environment section cited China's continuing growth slowdown and escalating trade friction as concerns for the global economy. - FY2019-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure stated that there were no new developments or material changes concerning existing business and other risks, including the overseas sales ratio. - FY2018WorsenedAnnual report
「Overseas sales accounted for 81.8% of sales for the fiscal year. Accordingly, the Group is exposed, directly or indirectly, to economic conditions in the Japanese, North American and European, and Asian markets」
The overseas sales ratio increased from 79.8% in the previous fiscal year to 81.8%, indicating a numerical increase in sales exposure to economic fluctuations across regions worldwide. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure explicitly stated that there were no new business or other risks or material changes to existing risks. - FY2018-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure explicitly stated that there were no new business or other risks or material changes to existing risks. - FY2017RestatedAnnual report
「Overseas sales accounted for 79.8% of sales for the fiscal year. Accordingly, the Group is exposed, directly or indirectly, to economic conditions in the Japanese, North American and European, and Asian markets」
The disclosure continued to report an overseas sales ratio of 79.8% and exposure to economic fluctuations across regions worldwide. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure explicitly stated that no new risks had arisen and that there were no material changes to existing risks. - FY2017-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure explicitly stated that there were no new risks or material changes to existing risks. The business environment continued to include such uncertainties as the UK's departure from the EU, China's economic slowdown and the yen's appreciation trend. - FY2017-Q1WorsenedAnnual report
「In Europe, the economy generally continued to expand moderately, but uncertainty over the political and economic outlook increased following the UK's vote to leave the EU. In China, the economic slowdown continued, while emerging economies in Southeast Asia also remained in difficult conditions, affected by developments in the Chinese economy and falling resource prices. In Japan, capital investment, particularly by large companies, increased and employment improved, but personal consumption remained sluggish, and the economy continued to stagnate amid the yen's appreciation trend.」
Although no material changes were identified in the risk section itself, the business environment for the quarter was described as uncertain and challenging, citing the UK's departure from the EU, China's slowdown, falling resource prices and the yen's appreciation trend. - FY2016First statedAnnual report
「Overseas sales accounted for 81.4% of sales for the fiscal year. Accordingly, the Group is exposed, directly or indirectly, to economic conditions in the Japanese, North American and European, and Asian markets, and fluctuations in economic conditions in each market could affect the Group's operating performance and financial condition.」
With overseas sales accounting for 81.4%, the disclosure describes exposure to economic fluctuations in Japan, North America and Europe, and Asia.