Changes in the Global Economy, Regulations and Competitive Environment
First written in FY2016. 17 of 34 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026.
Lasertec moved to the "Worse" side of this theme in 2016, 8 years before the typical company in this theme (2024).
The whole theme swung hardest in 2020: 6 of 13 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「During the fiscal year, the global economy became increasingly uncertain due to higher energy prices accompanying heightened geopolitical risks and their impact on supply chains.」
It was stated that higher energy prices associated with rising geopolitical risks and their impact on supply chains had further heightened uncertainty about the outlook for the global economy. - FY2025-H1Concerns about an economic slowdown due to geopolitical risks and policy developmentsAnnual report
「During the interim consolidated accounting period, uncertainty about the outlook for the global economy remained as concerns about an economic slowdown stemming from geopolitical risks and policy developments persisted.」
It was stated that geopolitical risks and policy developments were raising concerns about an economic slowdown and that uncertainty about the outlook for the global economy continued. - FY2024-Q2Energy-price pressures ease, but inflation and high interest rates persistAnnual report
「During the six-month period of the current consolidated fiscal year, the rise in energy and raw-material prices showed signs of easing. However, inflationary pressure remained high, and concerns about an economic slowdown persisted due to policy rates in Europe and the US remaining elevated.」
While the rise in energy and raw-material prices showed signs of easing, concerns about an economic slowdown continued due to high inflationary pressure and elevated policy rates in Europe and the US. - FY2024-Q1WorsenedAnnual report
「During the three-month period of the current consolidated fiscal year, concerns about an economic slowdown persisted in the global economy due to continued inflationary pressure stemming from high energy and raw-material prices, as well as global monetary tightening. In addition, the yen reached historically weak levels due in part to policy-rate hikes in Europe and the US, and an uncertain outlook continued.」
It was stated that uncertainty about the outlook continues against a backdrop of persistently high inflationary pressure from surging energy and raw-material prices, global monetary tightening, concerns about an economic slowdown, and historically weak yen levels. - FY2023MaterialisedAnnual report
「In the semiconductor industry, a major market for the Group, inventory adjustments rapidly spread throughout the supply chain as demand for semiconductors used in smartphones and PCs, which had expanded sharply during the COVID-19 pandemic, declined from its peak.」
In relation to external-environment risks, the post-pandemic decline in demand from its peak and inventory adjustments throughout the supply chain were described as actual developments. - FY2023-Q3WorsenedAnnual report
「During the nine-month period of the current consolidated fiscal year, the global economy began to show signs of stabilization in the sharp rise in resource and energy prices triggered by the Ukraine crisis. However, concerns about the economic outlook deepened as the conflict became protracted, inflation remained elevated, and financial uncertainty spread.」
It was stated that, while the surge in resource and energy prices showed signs of easing, concerns about the outlook for the global economy deepened due to the prolonged Ukraine crisis, persistently high inflation, and growing financial uncertainty. - FY2023-Q2WorsenedAnnual report
「During the six-month period ended in the second quarter, uncertainty increased and concerns over an economic slowdown continued as inflation driven by surging resource and energy prices stemming from the Ukraine crisis, sharp policy rate increases led by Europe and the United States, and foreign exchange fluctuations persisted.」
It was stated that uncertainty in the global economy and concerns about an economic slowdown continue against a backdrop of surging resource and energy prices associated with the Ukraine crisis, inflation, rapid interest-rate hikes in Europe and the US, and currency fluctuations. - FY2023-Q1WorsenedAnnual report
「During the three-month period ended in the first quarter, the global economy was recovering as the spread of COVID-19 began to subside. However, uncertainty about the outlook increased again and concerns over a recession intensified because of the prolonged Russian invasion of Ukraine, China’s economic slowdown, continued and accelerating inflation, rapid monetary tightening, and foreign exchange fluctuations.」
While the disclosure describes a recovery trend as COVID-19 moved toward containment, it states that prolonged Russia’s invasion of Ukraine, China’s economic slowdown, inflation, monetary tightening, and foreign exchange fluctuations increased uncertainty about the global economic outlook and heightened recession concerns. - FY2022-Q3MaterialisedAnnual report
「Russia’s invasion of Ukraine drove up resource and food prices and disrupted supply chains, further increasing global inflationary pressure. Monetary policy and foreign exchange markets also remained volatile, and combined with the global semiconductor shortage, this left the outlook uncertain.」
Regarding previously recognized external-environment risks, including war, economic conditions, and supply constraints, the disclosure now describes Russia’s invasion of Ukraine, supply-chain disruptions, inflationary pressure, and semiconductor shortages as actual events. - FY2022-Q2Recovery trend with continuing supply shortages and inflationAnnual report
「During the six-month period ended in the second quarter, economic and social activity moved toward normalization despite the drag from the renewed spread of COVID-19 variants. Meanwhile, supply shortages in response to rapidly recovering demand and imbalances in energy supply and demand accompanying the transition to a sustainable society drove inflation, particularly in Europe and the United States, and prices remained volatile across a broad range of goods. The intensification of US-China friction and other factors were also concerns as risks, but the economic recovery trend was expected to continue broadly through 2022.」
The disclosure indicates that economic and social activity was normalizing and the economy remained on a recovery path despite the drag from the renewed spread of variant strains. Supply shortages against rapidly recovering demand, inflation caused by imbalances in energy supply and demand, and US-China friction are identified as risk factors. - FY2022-Q1Coexistence of renewed infections, supply shortages, and inflationary pressureAnnual report
「During the three-month period ended in the first quarter, the global economy remained on a recovery path despite the resurgence of COVID-19. However, the outlook remained uncertain because of continuing tensions between the United States and China over trade and technology and inflationary pressure caused by shortages of semiconductors and energy resources.」
The disclosure describes the global economy as remaining on a recovery path despite the resurgence of infectious disease, while also identifying US-China trade and technology friction, shortages of semiconductors and energy resources, and inflationary pressure as new sources of uncertainty. - FY2021Signs of economic recovery, semiconductor shortages, and geopolitical risksAnnual report
「During the fiscal year, the global economy was heavily affected by COVID-19, but signs of a gradual recovery emerged as a result of economic policies in various countries and the spread of vaccinations.」
The disclosure describes signs of recovery driven by economic policies and the spread of vaccinations despite COVID-19, while identifying geopolitical risks arising from US-China friction and semiconductor shortages as concerns for the semiconductor industry. - FY2021-Q3Start of vaccinations and concerns over variant strainsAnnual report
「During the nine-month period ended in the third quarter, economic activity continued while economic policies and public-health measures were implemented in response to COVID-19. Vaccinations against COVID-19 began, raising expectations for the normalization of economic and social activity, while concerns over the spread of variant strains emerged, and the situation remained unpredictable.」
The disclosure notes that the start of COVID-19 vaccinations raised expectations for the normalization of economic and social activity, while concerns over the spread of variant strains were added, leaving the external environment unpredictable. - FY2021-Q2Repeated resurgences of infections and renewed restrictions on economic activityAnnual report
「During the six-month period ended in the second quarter, economic activity continued while economic policies and public-health measures were implemented in response to COVID-19. Although the economy showed signs of recovery from the sharp downturn immediately after the outbreak spread, resurgences of infections and renewed restrictions on economic activity have been repeated in various countries as the winter season approached and infection risks increased. Intensifying US-China friction and other factors are also a concern as downside risks, and the situation remains unpredictable.」
While the global economy recovered from the downturn immediately after the outbreak spread, repeated winter resurgences of infections and renewed restrictions on economic activity have weighed on it, and US-China friction is also a concern as a downside factor. - FY2021-Q1WorsenedAnnual report
「During the three-month period ended in the first quarter, restrictions on economic activity due to COVID-19 (the novel coronavirus disease) remained in place. Although economic activity was beginning to recover through partial reopening and various economic policies, a full recovery is expected to take considerable time. In addition, uncertainty about the outlook remains high because of intensifying US-China trade friction and the US presidential election.」
The disclosure states that restrictions on economic activity due to COVID-19 continue and that a full recovery is expected to take time, while intensifying US-China trade friction and the US presidential election are keeping the outlook highly uncertain. - FY2020MaterialisedAnnual report
「The global economy initially remained solid during the fiscal year, but in the second half economic activity was forced to halt by the worldwide spread of COVID-19 (the novel coronavirus disease), resulting in a sharp recession.」
Regarding previously recognized external-environment risks relating to infectious diseases and the global economy, the disclosure now describes the worldwide spread of COVID-19, the interruption of economic activity, and a sharp recession. - FY2020-Q3MaterialisedAnnual report
「During the nine-month period ended in the third quarter, the global economy had remained solid despite US-China trade friction and instability in the Middle East, but the situation was changing significantly as COVID-19 (the novel coronavirus disease) spread worldwide. Economic activity has recently stagnated, and as the timing of the pandemic’s end cannot be predicted, concerns are growing over its expanding impact on the real economy.」
In connection with previously recognized external-environment risks relating to infectious diseases, the global economy, and geopolitics, the disclosure now describes the worldwide spread of COVID-19 and the resulting stagnation of economic activity. As the timing of the pandemic’s end cannot be predicted, concerns have arisen over its expanding impact on the real economy. - FY2020-Q2WorsenedAnnual report
「The global economy remained solid during the six-month period ended in the second quarter despite slowing growth, but uncertainty about the outlook increased further because of protectionist trade policies, including US-China trade friction, and geopolitical conditions.」
The disclosure states that while the global economy remained relatively solid, uncertainty about the outlook increased further due to slowing growth, protectionist trade policies, US-China trade friction, and geopolitical conditions. - FY2020-Q1WorsenedAnnual report
「The global economy remained solid during the three-month period ended in the first quarter, but growth continued to slow amid increasing protectionist trade policies, including US-China trade friction, and uncertainty surrounding geopolitical conditions.」
The disclosure states that while the global economy remained relatively solid, growth continued to slow against a backdrop of expanding protectionist trade policies and geopolitical uncertainty. - FY2019WorsenedAnnual report
「The global economy remained generally solid during the fiscal year, but has recently begun to slow due to the semiconductor memory market entering an adjustment phase, lower capital investment in China resulting from monetary tightening, and the spread of protectionist trade policies, including US-China trade friction.」
The disclosure states that the external environment continued to face slowing growth and uncertainty due to an adjustment in the semiconductor memory market, lower capital investment in China, US-China trade friction, and protectionist trade policies. - FY2019-Q3WorsenedAnnual report
「During the nine-month period ended in the third quarter, the global economic outlook remained uncertain as US-China trade friction continued. The US housing market weakened, but corporate performance and personal consumption remained firm. In Europe, the unemployment rate continued to improve and personal consumption remained solid, but uncertainty increased because of deteriorating exports from German manufacturing and the unclear outlook for Brexit. China’s exports declined and its economic slowdown became more pronounced, while the government made clear its intention to curb the slowdown through fiscal stimulus and monetary easing.」
The disclosure cites prolonged US-China trade friction, deteriorating exports from German manufacturing, uncertainty over the outlook for Brexit, and China’s economic slowdown, stating that uncertainty about the global economic outlook continues. - FY2019-Q2WorsenedAnnual report
「During the six-month period ended in the second quarter, the global economic outlook became even more uncertain as US-China trade friction intensified. The United States maintained strong economic conditions on the back of favorable employment and income conditions, although China’s economic slowdown became more pronounced. Domestic demand remained solid in Europe, but uncertainty about the outlook for exports increased.」
The disclosure cites intensifying US-China trade friction, China’s economic slowdown, and increasing uncertainty about European exports, stating that risks in the external environment for the global economy have increased further. - FY2019-Q1WorsenedAnnual report
「Uncertainty has spread across emerging-market economies, including a sharp decline in currencies in some emerging markets. Intensifying US-China trade friction and rising US interest rates have become major concerns for the global economy going forward.」
In addition to sharp currency declines in some emerging markets, the disclosure identifies intensifying US-China trade friction and rising US interest rates as major concerns for the global economy, adding to uncertainty in the external environment. - FY2018WorsenedAnnual report
「However, concerns over trade friction resulting from the United States’ protectionist trade policies have increased uncertainty about future economic conditions.」
The disclosure describes economic recovery and expansion in the United States, Europe, China, and elsewhere, while stating that concerns over US protectionist trade policies and trade friction have increased uncertainty about the future economy. - FY2018-Q3Continued economic recovery and downside factorsAnnual report
「During the nine-month period ended in the third quarter, the global economy remained buoyant, with personal consumption and corporate performance firm in the United States and Europe. China’s exports expanded and its economy remained stable, while emerging-market and resource-producing economies continued to recover. However, concerns remain that the United States’ protectionist policies and geopolitical risks on the Korean Peninsula and in the Middle East could weigh on economic activity going forward.」
The disclosure states that strong economic conditions in the United States and Europe, stability in China, and recovery in emerging-market and resource-producing economies continued, while US protectionist policies and geopolitical risks on the Korean Peninsula and in the Middle East were identified as downside factors. - FY2018-Q2Continued global economic expansion and lingering policy risksAnnual report
「During the six-month period ended in the second quarter, the global economy remained on a steady growth path. Although concerns remained over geopolitical risks and the risk of policy changes by monetary authorities in some areas, the US and European economies continued to expand steadily, China’s economy remained stable, and emerging-market and resource-producing economies were recovering, partly due to these spillover effects.」
The disclosure describes continued economic expansion in the United States and Europe, stability in China, and recovery in emerging-market and resource-producing economies, while concerns remain over geopolitical risks and the risk of policy changes by monetary authorities. - FY2018-Q1Global economic recovery and China’s slowdownAnnual report
「During the three-month period ended in the first quarter, the global economy continued to expand in the United States as employment conditions and personal consumption improved. In Europe, Germany, which had led the economic recovery, remained solid, while the recovery became more pronounced in France, Italy, and Spain. China’s growth rate slowed as restrictive economic policies aimed at shifting toward a path of stable growth took effect, while emerging-market economies, particularly in Asia, were beginning to recover.」
The disclosure states that the US and European economies continued to expand and recover, China’s growth rate slowed because of restrictive economic policies, and emerging-market economies were beginning to recover. - FY2017WorsenedAnnual report
「Meanwhile, geopolitical risks in the Middle East and Northeast Asia and policy risks in some advanced economies increased, adding to uncertainty about the outlook.」
The disclosure states that while the global economy was recovering in the United States, Europe, and China, geopolitical risks in the Middle East and Northeast Asia and policy risks in some advanced economies increased, adding to uncertainty about the outlook. - FY2017-Q3Global economic recovery and policy uncertaintyAnnual report
「During the nine-month period ended in the third quarter, the global economy expanded steadily in the United States despite uncertainty surrounding the new administration’s policies, while Europe remained on a gradual recovery path. In China, economic management was shifting toward a path of stable growth, and many emerging markets were recovering as resource prices bottomed out.」
The disclosure describes continued economic expansion in the United States and Europe, China’s shift toward a path of stable growth, and a recovery in emerging markets, while noting that uncertainty remains over US policy management. - FY2017-Q2Divergence in economic conditions by regionAnnual report
「In Europe, the economy overall entered a gradual recovery trend as the impact of the UK’s departure from the EU was limited, while China and many emerging markets continued to slow.」
The disclosure states that the impact of the UK’s departure from the EU was limited and Europe was on a gradual recovery path, while China and emerging markets continued to slow, indicating regional differences in global economic risks. - FY2017-Q1WorsenedAnnual report
「In addition to geopolitical risks in certain regions, rising political risks in individual countries, as seen in the UK’s decision to leave the EU, are increasing uncertainty about the future of the global economy.」
The disclosure states that, in addition to geopolitical risks, rising political risks in individual countries, exemplified by the UK’s decision to leave the EU, are increasing uncertainty about the global economy. - FY2016First statedAnnual report
「In conducting its business, the Group could be affected by economic conditions worldwide and in individual regions, force majeure events such as war, terrorism, and infectious diseases, financial and stock markets, laws and regulations and government regulation, and intensifying development and standardization competition, which could affect its business performance.」
The disclosure lists economic conditions, force majeure events, financial markets, regulations, and development and standardization competition as broad external risks.