Political, Foreign Exchange, Regulatory and Other Risks in Overseas Operations
First written in FY2016. 19 of 36 entries say "Restated". Latest entry: 2026-05-29.
Zuken moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2025: 72 of 118 companies on the "Worse" side.
73 other companies' latest entry also says "Restated".
- FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, uncertainty about the outlook continued due to the unpredictable impact of US trade policy, but overall the economy remained on a moderate recovery trend.」
The unpredictable impact of US trade policy is explicitly identified as a source of uncertainty surrounding the overseas business, and uncertainty about the outlook continues. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, the economic environment remained uncertain due to concerns over a downturn in the Chinese economy, but the economy remained on a moderate recovery trend against a backdrop of solid corporate earnings and other factors.」
It also notes that, while uncertainty in the overseas economic environment due to concerns over a downturn in the Chinese economy persists, the economy is on a moderate recovery trend supported by corporate earnings. - FY2024WorsenedAnnual report
「Looking ahead, the economic environment is expected to remain uncertain due to the increasingly tense situation in the Middle East and concerns over weaker overseas economies.」
The increasingly tense situation in the Middle East is explicitly identified as a new source of uncertainty in the external environment surrounding the overseas business. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended the third quarter of the current fiscal year, the economic environment remained uncertain due to concerns over the slowdown in the Chinese economy and the global acceleration of inflation, but the economy remained on a moderate recovery trend as economic activity continued to normalize.」
It also notes that, while uncertainty about the outlook due to the slowdown in the Chinese economy and concerns over accelerating global inflation persists, the economy is on a moderate recovery trend as economic activity normalizes. - FY2024-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, the outlook remained uncertain due to accelerating global inflation and concerns about a slowdown in the Chinese economy, but conditions followed a moderate recovery trend as economic activity normalized after the COVID-19 pandemic.」
Concerns about a slowdown in the Chinese economy were identified as an uncertain factor surrounding overseas operations. Although the normalization of economic activity indicated a recovery trend, uncertainty about the outlook continued. - FY2024-Q1RestatedAnnual report
「During the three-month consolidated cumulative period, the outlook remained uncertain due to the effects of accelerating global inflation and other factors, but conditions followed a moderate recovery trend as economic activity normalized substantially.」
Although uncertainty about the outlook due to accelerating global inflation continued, the normalization of economic activity and a moderate recovery trend were also disclosed. - FY2023WorsenedAnnual report
「Although restrictions related to the COVID-19 pandemic will be eased and economic activity will continue to normalize, the outlook is expected to remain uncertain because the effects of the prolonged situation in Ukraine, measures to address inflation and other factors cannot be foreseen.」
In addition to the prolonged situation in Ukraine, the effects of measures to address inflation have been identified as a new uncertain factor. - FY2023-Q3RestatedAnnual report
「Although uncertainty about the outlook continued due to the prolonged situation in Ukraine and other factors during the nine-month consolidated cumulative period, conditions followed a moderate recovery trend as economic activity restrictions were eased and activity normalized.」
Although uncertainty about the outlook due to the prolonged situation in Ukraine continued, a moderate recovery trend resulting from the easing and normalization of restrictions on economic activity was also identified. - FY2023-Q2RestatedAnnual report
「Although uncertainty about the outlook continued due to the prolonged situation in Ukraine and other factors during the six-month consolidated cumulative period, conditions followed a moderate recovery trend as restrictions on economic activity were eased and activity normalized.」
Although uncertainty about the outlook due to the prolonged situation in Ukraine continued, a moderate recovery trend resulting from the easing and normalization of restrictions on economic activity was also disclosed. - FY2023-Q1WorsenedAnnual report
「During the three-month consolidated cumulative period, the outlook remained uncertain due to the prolonged invasion of Ukraine and other factors, but conditions followed a moderate recovery trend as restrictions on economic activity related to the pandemic were eased.」
The prolonged invasion of Ukraine was newly identified as an uncertain factor surrounding the external environment for overseas operations, and uncertainty about the outlook continues. - FY2022-Q3RestatedAnnual report
「During the nine-month consolidated cumulative period, economic activity resumed and the economy was moving toward a moderate recovery, but overall conditions remained uncertain due to concerns about the spread of variant viruses and semiconductor shortages.」
Although the resumption of economic activity and a moderate recovery were identified, uncertainty surrounding economic conditions, including overseas conditions, continued due to concerns about the spread of variant viruses and semiconductor shortages. - FY2022-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, restrictions on economic activity were eased, mainly in Europe and the United States, and the economy was moving toward a moderate recovery, but overall conditions remained uncertain due to concerns about a renewed spread of infectious diseases.」
Although economic conditions, mainly in Europe and the United States, were moving toward recovery, uncertainty surrounding overseas economic conditions continued due to concerns about a renewed spread of infectious diseases. - FY2022-Q1RestatedAnnual report
「During the three-month consolidated cumulative period, the economies of Europe, the United States and China were moving toward recovery as vaccination progressed, but the outlook remained uncertain because the impact of the spread of variant viruses could not be foreseen.」
Although recovery factors in Europe, the United States and China were identified, the impact of the spread of variant viruses could not be foreseen, and uncertainty surrounding overseas economic conditions continued. - FY2021RestatedAnnual report
「Overseas markets entail risks including ① sharp changes in political and economic conditions, ② exchange-rate fluctuations, ③ unexpected changes in laws and regulations, ④ difficulty securing personnel, and ⑤ social disruption caused by terrorism, war, epidemics and other factors.」
The combined risks associated with overseas expansion, including political and economic conditions, foreign exchange, regulations, personnel, terrorism, war and epidemics, have been reaffirmed. - FY2021-Q3RestatedAnnual report
「During the nine-month consolidated cumulative period, the global economy continued to stagnate due to the spread of the novel coronavirus pandemic, and conditions remained severe.」
The continuation of global economic stagnation and severe overseas economic conditions caused by the novel coronavirus pandemic has been reaffirmed. - FY2021-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, the global economy continued to stagnate due to the impact of the novel coronavirus pandemic. Although some signs of recovery emerged toward the latter half of the period, conditions overall remained severe.」
It was disclosed that stagnation in the global economy and severe conditions caused by the novel coronavirus pandemic continued, although some signs of recovery emerged in the latter half of the period. - FY2021-Q1WorsenedAnnual report
「During the three-month consolidated cumulative period, the global economy stagnated due to the impact of the novel coronavirus pandemic, and conditions remained severe.」
It was disclosed that the global economy stagnated due to the impact of the novel coronavirus pandemic, resulting in severe economic conditions, including for overseas operations. - FY2020RestatedAnnual report
「Overseas markets entail risks including ① sharp changes in political and economic conditions, ② exchange-rate fluctuations, ③ unexpected changes in laws and regulations, ④ difficulty securing personnel, and ⑤ social disruption caused by terrorism, war, epidemics and other factors.」
The combined risks associated with overseas expansion, including political and economic conditions, foreign exchange, regulations, personnel, terrorism, war and epidemics, have been reaffirmed. - FY2020-Q3RestatedAnnual report
「During the nine-month consolidated cumulative period, the US and Japanese economies continued to recover moderately, but the outlook remained uncertain due to the effects of US-China trade friction and concerns about the UK's withdrawal from the EU.」
Uncertainty surrounding overseas economic conditions due to the effects of US-China trade friction and concerns about the UK's withdrawal from the EU continues to be disclosed from the previous quarter. - FY2020-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, the US and Japanese economies continued to recover moderately, but the outlook remained uncertain due to the effects of prolonged US-China trade friction and concerns about the UK's withdrawal from the EU.」
The effects of prolonged US-China trade friction have newly been identified as an uncertain factor surrounding overseas operations, and uncertainty about the outlook continues together with concerns about the UK's withdrawal from the EU. - FY2020-Q1RestatedAnnual report
「During the three-month consolidated cumulative period, the US, European and Japanese economies, particularly those in Europe and the US, continued to recover moderately, but the outlook remained uncertain due to US economic policy and concerns about a slowdown in the Chinese economy.」
Uncertainty surrounding overseas economic conditions due to US economic policy and concerns about a slowdown in the Chinese economy continues to be disclosed. - FY2019-Q3RestatedAnnual report
「During the nine-month consolidated cumulative period, the US, European and Japanese economies continued to recover moderately, but overall conditions remained uncertain due to the slowdown in emerging Asian economies and concerns about US economic policy.」
Uncertainty surrounding overseas economic conditions due to the slowdown in emerging Asian economies and concerns about US economic policy continues to be disclosed. - FY2019-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, the US, European and Japanese economies continued to recover moderately, but overall conditions remained uncertain due to US economic policy and concerns about an economic slowdown in Asia.」
Uncertainty surrounding overseas economic conditions due to US economic policy and concerns about an economic slowdown in Asia continues to be disclosed from the previous quarter. - FY2019-Q1RestatedAnnual report
「During the three-month consolidated cumulative period, the US, European and Japanese economies continued to recover moderately, but overall conditions remained uncertain due to concerns about US economic policy and a slowdown in emerging Asian economies.」
Uncertainty surrounding overseas economic conditions due to US economic policy and concerns about a slowdown in emerging Asian economies continues to be disclosed from the previous fiscal year. - FY2018MaterialisedAnnual report
「During the consolidated fiscal year, the US, European and Japanese economies continued to recover moderately, but conditions remained uncertain due to the slowdown in emerging Asian economies and concerns about US economic policy.」
Uncertainty surrounding overseas conditions due to the slowdown in emerging Asian economies and concerns about US economic policy was actually disclosed as the full-year economic environment. - FY2018-Q3MaterialisedAnnual report
「During the nine-month consolidated cumulative period, the US, European and Japanese economies continued to recover moderately, but the outlook remained uncertain due to the economic slowdown in emerging Asian economies, including China, and concerns about US policy.」
Uncertainty surrounding overseas economic conditions due to the slowdown in emerging Asian economies, including China, and concerns about US policy continues to be disclosed as the actual situation. - FY2018-Q2MaterialisedAnnual report
「During the six-month consolidated cumulative period, the US, European and Japanese economies continued to recover moderately, but overall conditions remained uncertain due to concerns about an economic slowdown in Asia and US policy trends.」
Uncertainty surrounding overseas conditions due to concerns about an economic slowdown in Asia and US policy trends has continued as an actual economic condition. - FY2018-Q1MaterialisedAnnual report
「During the three-month consolidated cumulative period, the US, European and Japanese economies continued to recover moderately, but overall conditions remained uncertain due to concerns about US policy trends and a slowdown in emerging Asian economies.」
Uncertainty surrounding overseas conditions due to US policy trends and concerns about a slowdown in emerging Asian economies remains apparent. - FY2017MaterialisedAnnual report
「Although a foreign exchange loss of ¥145 million was incurred, profit increased substantially due to higher revenue and improving earnings at group companies.」
Regarding overseas business and foreign exchange risks, a full-year foreign exchange loss of ¥145 million actually occurred. - FY2017-Q3MaterialisedAnnual report
「During the nine-month consolidated cumulative period, economic conditions in Japan continued to recover moderately, but the outlook remained uncertain due to the UK's withdrawal from the EU and the change of administration in the United States.」
Uncertainty surrounding overseas conditions due to the UK's withdrawal from the EU and the change of administration in the United States continued. In addition, overseas sales declined in yen terms due to the stronger yen, a foreign exchange loss of ¥106 million was incurred, and order value declined due to weak economic conditions in South Korea, indicating that the impact of overseas business and foreign exchange risks had materialized. - FY2017-Q2MaterialisedAnnual report
「Although the US and Japanese economies continued to recover moderately, the outlook remained uncertain due to concerns about the UK's withdrawal from the EU and a slowdown in emerging Asian economies, including China.」
Concerns about a downturn in overseas economies due to the UK's withdrawal from the EU and a slowdown in emerging Asian economies continued, making the uncertainty surrounding overseas conditions apparent. In addition, overseas sales declined in yen terms due to the stronger yen, and a foreign exchange loss of ¥179 million was incurred. - FY2017-Q1MaterialisedAnnual report
「Despite a foreign exchange loss of ¥132 million, ordinary loss was ¥284 million (ordinary loss of ¥224 million in the same period of the previous year).」
Among the overseas business and foreign exchange risks, losses from foreign exchange movements actually occurred, and the amount was disclosed. - FY2017-Q1MaterialisedAnnual report
「The outlook remained uncertain due to concerns about a downturn in overseas economies, including the slowdown in the Chinese economy and the issue of the UK's withdrawal from the EU.」
Concerns about a downturn in overseas economies due to the slowdown in the Chinese economy and the UK's withdrawal from the EU became apparent, and a foreign exchange loss of ¥132 million was also incurred during the quarter. - FY2016First statedAnnual report
「Overseas markets entail risks including ① sharp changes in political and economic conditions, ② exchange-rate fluctuations, ③ unexpected changes in laws and regulations, ④ difficulty securing personnel, and ⑤ social disruption caused by terrorism, war, epidemics and other factors.」
The combined external-environment risks associated with overseas expansion, including in Europe, the United States and Asia, appear for the first time.