Risks of Global Business Expansion Focused on China and Southeast Asia
First written in FY2016. 17 of 33 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-10-21.
Fdk moved to the "Worse" side of this theme in 2018, 4 years before the typical company in this theme (2022).
The whole theme swung hardest in 2022: 38 of 76 companies on the "Worse" side.
10 other companies' latest entry also says "Materialised".
- FY2026-H1WorsenedAnnual report
「Regarding the business environment surrounding the Group during the current interim consolidated accounting period, capital investment showed signs of recovery. However, conditions remained uncertain regarding the economic outlook amid prolonged geopolitical instability in Ukraine and the Middle East, the impact of U.S. trade policy, China's restrictions on rare-earth exports, rising prices and labor costs, persistently high interest rates in the United States, and a slowdown in the Chinese economy.」
In addition to existing geopolitical instability and concerns about the Chinese economy, U.S. trade policy, China's restrictions on rare-earth exports, and rising prices and labor costs were explicitly noted as sources of uncertainty. - FY2025WorsenedAnnual report
「Regarding the business environment surrounding the Group during the current consolidated fiscal year, capital investment and production showed signs of recovery. However, conditions remained uncertain regarding the economic outlook amid prolonged geopolitical instability in Ukraine and the Middle East, rising prices and labor costs, persistently high interest rates in Europe and the United States, the effects of the continued stagnation of China's real estate market, and future policy developments following the change of administration in the United States.」
In addition to existing geopolitical and economic sources of uncertainty, rising prices and labor costs, high interest rates in Europe and the United States, stagnation in China's real estate market, and policy developments following the change of administration in the United States were explicitly noted. - FY2025-H1WorsenedAnnual report
「Regarding the business environment surrounding the Group during the current interim consolidated accounting period, capital investment and production showed signs of recovery. However, conditions remained uncertain regarding the economic outlook amid prolonged geopolitical instability in Ukraine and the Middle East, rising prices, persistently high interest rates in Europe and the United States, and the effects of the continued stagnation of the real estate market in China.」
Although capital investment and production have begun to recover, geopolitical instability in Ukraine and the Middle East, rising prices, high interest rates in Europe and the United States, and stagnation in China's real estate market have become concrete and persistent sources of uncertainty. - FY2024-Q3Recovery alongside persistent uncertaintyAnnual report
「Although economic activity has normalized and capital investment and production have begun to recover, with some improvement in material procurement and raw material prices, conditions remained uncertain regarding the economic outlook due to persistently high raw material prices, the prolonged situation in Ukraine, rising prices, yen depreciation, global monetary tightening, concerns about the outlook for the Chinese economy, and conditions in the Middle East.」
Although economic activity, capital investment, and production have begun to recover and some improvement has been seen in material procurement and raw material prices, sources of uncertainty coexist, including the situation in Ukraine, rising prices, yen depreciation, monetary tightening, the Chinese economy, and conditions in the Middle East. - FY2024-Q2Recovery alongside persistent uncertaintyAnnual report
「Regarding the business environment surrounding the Group during the second quarter of the current consolidated cumulative period, COVID-19 was moving toward a return to normal conditions, including its reclassification as a Class 5 disease under the Infectious Diseases Control Law in May. Capital investment began to recover and production showed signs of recovery as economic activity normalized, and some improvement was seen in material procurement and raw material prices, although they remained at high levels. However, conditions remained uncertain regarding the economic outlook due to the prolonged situation in Ukraine, rising prices, yen depreciation, global monetary tightening, and concerns about the outlook for the Chinese economy.」
Although the reclassification of COVID-19 as a Class 5 disease, recovery in capital investment and production, and some improvement in material procurement and raw material prices are indicated, sources of uncertainty coexist, including the situation in Ukraine, rising prices, yen depreciation, monetary tightening, and concerns about the Chinese economy. - FY2024-Q1Recovery alongside persistent uncertaintyAnnual report
「COVID-19 was moving toward a return to normal conditions, including its reclassification as a Class 5 disease under the Infectious Diseases Control Law in May. Capital investment began to recover and production showed signs of recovery as economic activity normalized. However, conditions remained uncertain regarding the economic outlook due to the prolonged difficulty in procuring materials, soaring raw material and utility costs, the prolonged situation in Ukraine, and rising prices in some areas.」
Although the reclassification of COVID-19 and recovery in capital investment and production are indicated, uncertainty continues due to prolonged difficulty procuring materials, soaring raw material and utility costs, the situation in Ukraine, and rising prices. - FY2023-Q3RestatedAnnual report
「Regarding the business environment surrounding the Group during the third quarter of the current consolidated cumulative period, restrictions on activity associated with COVID-19 were eased, and personal consumption, capital investment, and production began to recover as economic activity normalized. However, conditions remained extremely severe and the economic outlook uncertain due to difficulties procuring electronic and resin components, soaring raw material prices, chronic logistics disruptions, the prolonged situation in Ukraine, and declining demand caused by sharp price increases.」
Although economic activity has normalized and demand has begun to recover, procurement difficulties, soaring raw material prices, chronic logistics disruptions, the prolonged situation in Ukraine, and declining demand caused by rising prices continue, confirming the difficult business environment. - FY2023-Q2WorsenedAnnual report
「Conditions remained extremely severe due to difficulties procuring electronic and resin components, soaring raw material prices, and chronic logistics disruptions, including container shortages and port congestion, as well as the prolonged situation in Ukraine and declining demand caused by sharp price increases.」
In addition to existing procurement difficulties, high raw material prices, and logistics disruptions, the prolonged situation in Ukraine and declining demand caused by rising prices became additional sources of uncertainty in the global business environment. - FY2023-Q1WorsenedAnnual report
「Regarding the business environment surrounding the Group during the first quarter of the current consolidated cumulative period, Japan's priority preventive measures against COVID-19 were fully lifted in March 2022, and capital investment and production began to recover as economic activity normalized. However, conditions remained uncertain due to difficulties procuring electronic and resin components, soaring raw material prices, chronic logistics disruptions, and the prolonged situation in Ukraine.」
Although economic activity has normalized and capital investment and production have begun to recover, the prolonged situation in Ukraine was newly noted, and sources of uncertainty in the global business environment continue and are expanding along with procurement difficulties, high raw material prices, and logistics disruptions. - FY2022WorsenedAnnual report
「Regarding the business environment surrounding the Group during the current consolidated fiscal year, capital investment and production began to show signs of recovery in Japan and overseas. However, conditions remained uncertain due to the chronic nature of logistics disruptions, including difficulties procuring electronic and resin components, soaring raw material prices, container shortages, and port congestion, as well as the situation in Ukraine.」
Although economic activity and production have begun to recover, the situation in Ukraine was added as a new source of uncertainty, along with procurement difficulties and chronic logistics disruptions. - FY2022-Q3RestatedAnnual report
「Regarding the business environment surrounding the Group during the third quarter of the current consolidated cumulative period, capital investment and production began to recover in Japan and overseas, vaccinations against COVID-19 progressed, and the number of new infections declined, leading to increased mobility and signs of an economic recovery. However, logistics disruptions, including difficulties procuring electronic and resin components, soaring raw material prices, container shortages, and port congestion, became chronic, and conditions remained uncertain.」
Although signs of an economic recovery have emerged, uncertainty in the global business environment continues due to procurement difficulties, soaring raw material prices, container shortages, and port congestion. - FY2022-Q2RestatedAnnual report
「Regarding the business environment surrounding the Group during the second quarter of the current consolidated cumulative period, capital investment and production continued to show signs of recovery in Japan and overseas. However, in addition to the fact that economic recovery through COVID-19 vaccinations would still take time, conditions remained uncertain due to difficulties procuring electronic components and resin products, soaring prices, and logistics disruptions caused by container shortages and port congestion.」
Although capital investment and production are showing signs of recovery in Japan and overseas, uncertainty in the global business environment continues due to delays in the economic recovery following vaccinations, procurement difficulties, soaring prices, and logistics disruptions. - FY2022-Q1WorsenedAnnual report
「However, conditions remained uncertain due to the reissuance of the state of emergency in Japan, delays in vaccinations, concerns about a renewed spread of infections caused by mutated viruses in Japan and overseas, difficulties procuring electronic components, and logistics disruptions caused by container shortages.」
Although an economic recovery trend is indicated, sources of uncertainty have become more concrete, including the state of emergency, mutated viruses, difficulties procuring electronic components, and logistics disruptions caused by container shortages. - FY2021SoftenedAnnual report
「Part of the Group's production activities is carried out in China and Taiwan.」
The wording changed from production activities being conducted mainly in China and Southeast Asia to part of the production activities being conducted in China and Taiwan, narrowing the scope of overseas production risks. - FY2021-Q3RestatedAnnual report
「Regarding the business environment surrounding the Group, economic activity has gradually resumed following the stagnation caused by the spread of COVID-19, and signs of economic recovery have emerged, but the infection has been spreading again and conditions of significant uncertainty regarding the economic outlook continue.」
Although economic activity has gradually recovered, the renewed spread of COVID-19 and uncertainty regarding the economic outlook continue. - FY2021-Q2RestatedAnnual report
「Under these circumstances, regarding the business environment surrounding the Group, economic activity has gradually resumed following the stagnation caused by the spread of COVID-19, and signs of economic recovery have emerged. However, investment and consumer activity have declined both in Japan and overseas, concerns remain about a renewed spread of the infection, and conditions of significant uncertainty regarding the economic outlook continue.」
Although signs of an economic recovery are noted, investment and consumer activity remain weak and concerns about a renewed spread of COVID-19 continue, indicating persistent uncertainty in the global business environment. - FY2021-Q1WorsenedAnnual report
「Regarding the business environment surrounding the Group during the first quarter of the current consolidated cumulative period, the spread of COVID-19 caused economic activity, including supply chains and consumption, to stagnate due to the state of emergency in Japan and lockdowns overseas. At the same time, demand related to healthcare and new lifestyles was expected, and conditions remained characterized by increasing uncertainty about the economic outlook.」
In addition to existing policies in various countries, trade friction, and overseas economic conditions, the uncertainty in the global business environment caused by COVID-19 became more concrete through the state of emergency, lockdowns overseas, and supply chain disruptions. - FY2020WorsenedAnnual report
「During the fourth quarter consolidated accounting period, the spread of COVID-19 in Japan and overseas further disrupted economic activity, including supply chains and consumption, and conditions remained uncertain.」
In addition to existing factors such as policies in various countries, trade friction, and developments in the European economy, the global stagnation of economic activity caused by COVID-19 became an additional source of uncertainty in the global business environment. - FY2020-Q3RestatedAnnual report
「Demand stagnated, particularly in the electronics sector to which the Group belongs, and conditions remained uncertain due to policies in various countries, including the United States and China, continuing trade friction, and developments in the European economy.」
Stagnant demand in the electronics sector, policies in various countries, trade friction, and developments in the European economy continue to be cited as sources of uncertainty in the business environment. - FY2020-Q2WorsenedAnnual report
「Although the employment environment and other conditions in Japan remained on a recovery trend, demand remained stagnant, particularly in the electronics sector to which the Group belongs, and the environment remained uncertain due to policies in the United States, China and other countries, expanding trade friction and developments in the European economy.」
Stagnant demand in the electronics sector has been explicitly noted, while uncertainty in the global business environment continues and is becoming more concrete, including policies in various countries, escalating trade friction, and developments in the European economy. - FY2020-Q1WorsenedAnnual report
「Regarding the business environment surrounding the Group during the first quarter of the current consolidated fiscal year, the domestic economy remained on a gradual recovery trend, but the environment remained uncertain due to policies in the United States, China and other countries, expanding trade friction and developments in the European economy.」
Policies in various countries, expanding trade friction and developments in the European economy were identified as sources of uncertainty, with uncertainty in the global business environment continuing to become more pronounced. - FY2019WorsenedAnnual report
「Regarding the business environment surrounding the Group during the current consolidated fiscal year, corporate earnings, capital investment and the employment environment improved in Japan, and domestic personal consumption continued on a gradual recovery trend, but the environment remained uncertain against a backdrop of intensifying trade friction between the United States and China, the UK's withdrawal from the EU, the impact of protectionist policies on the global economy and soaring raw material prices.」
In addition to existing geopolitical risks and protectionism, intensifying trade friction between the United States and China, the UK's withdrawal from the EU and soaring raw material prices emerged as specific sources of uncertainty. - FY2019-Q3WorsenedAnnual report
「Regarding the business environment surrounding the Group during the first nine months of the current consolidated fiscal year, corporate earnings and the employment environment improved in Japan, and personal consumption continued on a gradual recovery trend, but the environment remained uncertain against a backdrop of the impact of intensifying trade friction between the United States and China on the global economy, geopolitical risks and soaring raw material prices.」
The company continued to identify intensifying trade friction between the United States and China as a new source of uncertainty, with geopolitical risks and soaring raw material prices, increasing uncertainty in the global business environment. - FY2019-Q2WorsenedAnnual report
「Regarding the business environment surrounding the Group during the first half of the current consolidated fiscal year, corporate earnings and the employment environment improved in Japan, and personal consumption continued on a gradual recovery trend, but the environment remained uncertain against a backdrop of the impact of intensifying trade friction between the United States and China on the global economy, geopolitical risks and soaring raw material prices.」
In addition to existing geopolitical risks and protectionist moves, the company described the impact of intensifying trade friction between the United States and China on the global economy, making the sources of uncertainty in the business environment more specific. - FY2019-Q1WorsenedAnnual report
「In Japan, corporate earnings and the employment environment improved, and personal consumption remained on a gradual recovery trend, but the business environment remained uncertain amid concerns about the adverse impact of protectionist moves in various countries on the global economy.」
In addition to existing geopolitical risks and other factors, the company described a situation in which protectionist moves in various countries raised concerns about adverse effects on the global economy. - FY2018-Q3RestatedAnnual report
「In Japan, corporate earnings and the employment environment improved, capital investment increased, and personal consumption was also on a gradual recovery trend, but the business environment remained uncertain due to the impact of geopolitical risks in North America, Europe and East Asia, among other factors.」
The company continues to identify uncertainty about the outlook resulting from geopolitical risks in North America, Europe and East Asia as a business-environment risk. - FY2018-Q2RestatedAnnual report
「In Japan, corporate earnings and the employment environment improved, and personal consumption was also on a gradual recovery trend, but the business environment remained uncertain due to the impact of geopolitical risks in North America, Europe and East Asia, among other factors.」
The company continues to identify uncertainty about the outlook resulting from geopolitical risks in North America, Europe and East Asia as a business-environment risk. - FY2018-Q1WorsenedAnnual report
「The business environment remained uncertain due to the slowdown in emerging-market economies and increasing uncertainty in overseas economies resulting from geopolitical risks abroad, among other factors.」
The company identifies the slowdown in emerging-market economies and increasing uncertainty resulting from geopolitical risks abroad as factors contributing to a deterioration in the business environment. - FY2017RestatedAnnual report
「A large proportion of the Group's production activities is conducted in China and Southeast Asia. As a result, disruptions and increased response costs may arise due to unexpected changes in laws or regulations, terrorism, war, loss of personnel and other factors.」
The company continues to disclose risks related to laws and regulations, geopolitics, personnel, disruption and response costs associated with the concentration of production in China and Southeast Asia. - FY2016First statedAnnual report
「A large proportion of the Group's production activities is conducted in China and Southeast Asia. As a result, disruptions and increased response costs may arise due to unexpected changes in laws or regulations, terrorism, war, loss of personnel and other factors.」
The company cites changes in laws and regulations, geopolitical disruption, loss of personnel and increased response costs associated with its reliance on overseas production.