Risk of Economic Fluctuations and Political and Economic Conditions in Asia
First written in FY2016. 21 of 33 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 48 of 95 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period under review, the Japanese economy was gradually recovering amid continued improvements in employment and income conditions. However, the impact of continued price increases on personal consumption and the impact of US policy developments, including trade policy, posed downside risks to the Japanese economy.」
While acknowledging the economy's moderate recovery, the company continues to explicitly identify the risk of downward pressure on the economy from ongoing price increases and US trade policy and other factors. - FY2025Explicit identification of risks related to US policy developmentsAnnual report
「The Japanese economy is expected to continue its moderate recovery as employment and income conditions improve. However, close attention must be paid to the impact of US policy developments, including trade policy, and volatility in financial and capital markets.」
In addition to the previously identified risks related to economic fluctuations and overseas conditions, the company explicitly identified the impact of policy developments, including US trade policy, as an economic-environment concern for the current fiscal year. - FY2024RestatedAnnual report
「The Group is susceptible to the effects of economic fluctuations, and trends in capital investment and expense spending resulting from changes in the economic environment may affect its operating performance. The Group also operates overseas, with its operations in the United States and in Asia, particularly China, Taiwan and South Korea, showing a growth trend. Changes in the political, economic and social conditions and regulatory developments in these regions, as well as exchange rate fluctuations, may constrain the Group's business activities.」
The risks related to economic fluctuations, the political, economic and social conditions in overseas regions, regulatory developments and exchange rate fluctuations continue to be disclosed as risks to operating performance and business activities. - FY2024-Q3WorsenedAnnual report
「During the cumulative third quarter under review, the Japanese economy continued to show a moderate recovery trend amid improving employment and income conditions, but the outlook remained uncertain due to rising prices, volatility in financial and capital markets, concerns about the outlook for the Chinese economy and the situation in the Middle East.」
In addition to rising prices, volatility in financial and capital markets and concerns about the outlook for the Chinese economy, the company identifies the situation in the Middle East as a new source of uncertainty. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, the Japanese economy showed a moderate recovery trend amid improving employment and income conditions, but the outlook remained uncertain due to rising prices, volatility in financial and capital markets and concerns about the outlook for the Chinese economy.」
While referring to improvements in employment and income conditions and a moderate recovery trend, the company continues to disclose uncertainty due to rising prices, volatility in financial and capital markets and concerns about the outlook for the Chinese economy. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter under review, the Japanese economy showed a moderate recovery trend amid improving employment and income conditions, but the outlook remained uncertain due to rising prices and volatility in financial and capital markets.」
While referring to improvements in employment and income conditions and a moderate recovery trend, the company continues to disclose uncertainty about the outlook due to rising prices and volatility in financial and capital markets. - FY2023WorsenedAnnual report
「Changes in the political, economic and social conditions and regulatory developments in these regions, as well as exchange rate fluctuations, may constrain the Group's business activities. In particular, shortages of raw materials and soaring raw material prices caused by geopolitical risks in these regions may constrain the Group's production and supply structure, potentially affecting its operating performance.」
In addition to the previously identified political, economic and social risks in overseas regions, the company specifically describes exchange rate fluctuations, shortages and soaring prices of raw materials caused by geopolitical risks, and the possibility of constraints on the production and supply structure. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter under review, the Japanese economy showed signs of recovery under the post-pandemic environment, but international conditions remained unstable and the effects of supply-side constraints and price increases caused by yen depreciation were becoming apparent. In addition, the risk increased that a downturn in overseas economies caused by global monetary tightening would put downward pressure on the Japanese economy, and the situation remained unpredictable.」
While referring to signs of recovery, the company states that the effects of supply constraints and price increases caused by yen depreciation had become apparent and that the risk of a downturn in overseas economies caused by global monetary tightening had also increased. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the Japanese economy showed signs of recovery from the difficult conditions caused by COVID-19, but international conditions remained unstable and concerns persisted about the effects of supply-side constraints and price increases caused by yen depreciation. In addition, the risk increased that a downturn in overseas economies caused by global monetary tightening would put downward pressure on the Japanese economy, and the situation remained unpredictable.」
In addition to the previously identified risks related to economic and overseas conditions, the company specifically describes instability in international conditions, price increases caused by yen depreciation, global monetary tightening and the risk of a downturn in overseas economies. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the Japanese economy showed signs of recovery, but the situation remained unpredictable, with concerns about a renewed spread of COVID-19 and prolonged instability in international conditions, as well as increasing risks of a downturn resulting from supply constraints, rising raw material prices and volatility in financial and capital markets.」
The company specifies the renewed spread of COVID-19, instability in international conditions, supply constraints, rising raw material prices and volatility in financial and capital markets as economic-environment risks. - FY2022WorsenedAnnual report
「Shortages of raw materials and soaring raw material prices caused by geopolitical risks in these regions may constrain the Group's production and supply structure, potentially affecting its operating performance.」
In addition to the political, economic and social conditions and regulatory developments in overseas regions previously identified, the company specifies shortages and soaring prices of raw materials caused by geopolitical risks and their impact on the production and supply structure. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy showed signs of recovery as the severe conditions caused by COVID-19 gradually eased, but the situation remained unpredictable, with increasing risks of a downturn resulting from supply-side constraints, trends in raw material prices and a renewed spread of infections.」
The company states that the economic environment showed signs of recovery, while risks of a downturn remained due to supply constraints, raw material prices and a renewed spread of infections. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the Japanese economy remained in a difficult situation due to the impact of COVID-19. Although there were signs of recovery resulting from progress in vaccinations, the effects of various policies and improvements in overseas economies, the situation remained unpredictable, including because of the increasing risk of a downturn caused by impacts transmitted through supply chains.」
While the economic environment showed signs of recovery, the company newly specified the increasing risk of a downturn caused by impacts transmitted through supply chains, heightening uncertainty in the economic environment. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the Japanese economy remained in a difficult situation due to the impact of COVID-19. Although there were signs of recovery resulting from progress in vaccinations, the effects of various policies and improvements in overseas economies, uncertainty about the outlook was increasing.」
While referring to signs of recovery resulting from vaccinations and policy effects, the company states that the economic environment remained difficult due to COVID-19 and that uncertainty about the outlook was increasing. - FY2021-Q3WorsenedAnnual report
「Although personal consumption, exports and production showed signs of recovery as a result of various measures, there were signs of a renewed spread of infections, increasing the risk of a downturn in the domestic and overseas economies.」
While personal consumption, exports and production showed signs of recovery, the company states that the risk of a downturn in the domestic and overseas economies increased due to the renewed spread of infections. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, economic activity in Japan stagnated significantly as COVID-19 spread globally and a state of emergency was declared temporarily in Japan. Although social and economic activity was gradually restarted after the declaration was lifted, and personal consumption, exports and production showed signs of recovery, concerns about a renewed spread of infections remained unresolved and the outlook continued to be difficult to assess.」
The company states that economic activity remained stagnant and the outlook uncertain due to COVID-19, while personal consumption, exports and production showed signs of recovery. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the Japanese economy was in an extremely difficult situation as economic activity came to an abrupt standstill in Japan amid the global spread of COVID-19 and requests to refrain from going out under the state of emergency declaration. Although social and economic activity was gradually restarted after the declaration was lifted, the outlook remained difficult because there were still no fundamental means of preventing the spread of the infection.」
The company describes the abrupt stagnation of economic activity caused by COVID-19 and the uncertain outlook resulting from the lack of means to prevent the spread of infection, indicating that economic-environment risks have intensified. - FY2020RestatedAnnual report
「The Group also operates overseas, with its operations in the United States and in Asia, particularly China, Taiwan and South Korea, showing a growth trend. Changes in the political, economic and social conditions and regulatory developments in these regions may affect the Group's operating performance.」
The United States is specifically identified among the overseas operating regions, and the risks related to political, economic and social conditions and regulatory developments continue to be disclosed. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy remained on a moderate recovery trend, with improvements in employment and income conditions and signs of a recovery in personal consumption, despite an uncertain outlook due to concerns about the impact of US-China trade issues and the situation in the Middle East on the global economy, uncertainty in overseas economies including the outlook for the Chinese economy, and concerns that the consumption tax rate increase would dampen consumer sentiment.」
The company cites US-China trade issues, the situation in the Middle East, the outlook for the Chinese economy and concerns about the consumption tax rate increase, describing the economic environment as uncertain. Meanwhile, the business and other risks section states that there are no new risks or material changes. - FY2020-Q2RestatedAnnual report
「However, uncertainty remains due to the impact of developments in trade issues on the global economy, uncertainty in overseas economies including the outlook for the Chinese economy, and the psychological impact of the consumption tax rate increase.」
While citing trade issues, the outlook for the Chinese economy, uncertainty in overseas economies and the impact of the consumption tax rate increase as concerns, the company states that there have been no material changes in its business and other risks. - FY2020-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the first quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The existing risks related to economic fluctuations and the political and economic conditions in Asia are stated as having no new occurrences or material changes. - FY2019RestatedAnnual report
「Trends in capital investment and expense spending resulting from changes in the economic environment may affect the Group's operating performance. The Group also operates overseas, with its operations in Asia, particularly China, Taiwan and South Korea, showing a growth trend. Changes in the political, economic and social conditions and regulatory developments in these regions may affect the Group's operating performance.」
The risks related to economic fluctuations, and the political and economic conditions and regulatory developments in Asia, particularly China, Taiwan and South Korea, continue to be disclosed. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, the Japanese economy remained on a moderate recovery trend, supported by the effects of various policies and continued improvements in employment and income conditions, despite concerns including the impact of trade issues on the global economy and volatility in financial and capital markets.」
While citing trade issues and volatility in financial and capital markets as concerns, the company describes the economic environment as being on a moderate recovery trend. The business and other risks section states that there have been no material changes. - FY2019-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the second quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2019-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the first quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2018-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the second quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2018-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the first quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2017RestatedAnnual report
「Trends in capital investment and expense spending resulting from changes in the economic environment may affect the Group's operating performance. The Group also operates overseas, with its operations in Asia, particularly China, Taiwan and South Korea, showing a growth trend.」
The risks related to economic fluctuations, and the political, economic and social conditions and regulatory developments in Asia, particularly China, Taiwan and South Korea, continue to be disclosed. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The existing risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2017-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the second quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The existing risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2017-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period of the first quarter. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The risks related to economic fluctuations and political and economic conditions in Asia are treated as having undergone no material changes. - FY2016First statedAnnual report
「Trends in capital investment and expense spending resulting from changes in the economic environment may affect the Group's operating performance.」
Political, economic and social conditions and regulatory developments in Asia, particularly China, Taiwan and South Korea, are also identified as risks to operating performance.