Uncertainty surrounding the economic outlook
First written in FY2019-Q3. 17 of 25 entries say "Restated". Latest entry: FY2026.
Birdman moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 18 of 27 companies on the "Worse" side.
10 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In addition to rising prices, exchange-rate fluctuations caused by monetary policies in various countries and the war in Ukraine, which shows no sign of ending, the yen’s historic weakness has continued under the impact of attacks on Iran by Israel and the United States, among other factors. We remain under pressure from higher raw-material prices and energy prices, particularly crude oil, and the outlook therefore remains uncertain.」
In addition to the previously identified international situation, prices, foreign exchange rates, and the Chinese economy, the disclosure explicitly identified the continued war in Ukraine, attacks on Iran by Israel and the United States, the historically weak yen, and upward pressure on energy prices, indicating that the factors contributing to uncertainty about the outlook had expanded. - FY2026-H1RestatedAnnual report
「The outlook remains uncertain owing to factors including the prolonged unstable international situation, continued monetary tightening by central banks in response to global price increases, sharp fluctuations in foreign exchange rates, and the slowdown in the Chinese economy.」
Continued uncertainty about the outlook arising from the international situation, price increases, monetary tightening, fluctuations in foreign exchange rates, and the slowdown in the Chinese economy is recognized. - FY2025RestatedAnnual report
「The outlook remains uncertain owing to factors including the prolonged unstable international situation, continued monetary tightening by central banks in response to global price increases, sharp fluctuations in foreign exchange rates, and the slowdown in the Chinese economy.」
Continued uncertainty about the outlook arising from the international situation, price increases, monetary tightening, fluctuations in foreign exchange rates, and the slowdown in the Chinese economy is described. - FY2025-H1RestatedAnnual report
「The outlook remains uncertain owing to factors including the prolonged unstable international situation, continued monetary tightening by central banks in response to global price increases, sharp fluctuations in foreign exchange rates, and the slowdown in the Chinese economy.」
Continued uncertainty about the outlook arising from the international situation, price increases, monetary tightening, fluctuations in foreign exchange rates, and the slowdown in the Chinese economy is described. - FY2024-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy remained subject to unstable economic conditions owing to the prolonged situation in Ukraine, the rapidly weakening yen, and the Noto Peninsula Earthquake at the beginning of the year, among other factors. However, the steady recovery in inbound demand raised expectations that socioeconomic activity would normalize as people resumed movement, with increased marketing activity accompanying higher consumption and increased live entertainment activity in Japan and overseas.」
The prolonged situation in Ukraine, the weaker yen, and the Noto Peninsula Earthquake, among other factors, were explicitly identified as factors contributing to uncertainty about the outlook for economic conditions. At the same time, the disclosure also described expectations for a recovery in inbound demand and the normalization of socioeconomic activity. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained subject to uncertainty about the outlook for economic conditions owing to the prolonged situation in Ukraine and other factors. However, as the number of COVID-19 cases declined, normalization of socioeconomic activity was expected, along with increased live entertainment activity in Japan and overseas.」
While continued uncertainty about the outlook for economic conditions arising from the prolonged situation in Ukraine and other factors was recognized, the disclosure described expectations for the normalization of socioeconomic activity and increased live entertainment activity as the pandemic subsided. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy remained subject to uncertainty about the outlook for economic conditions owing to the prolonged situation in Ukraine and other factors. However, as the number of COVID-19 cases declined, normalization of socioeconomic activity was expected, along with increased live entertainment activity in Japan and overseas.」
While continued uncertainty about the outlook for economic conditions arising from the prolonged situation in Ukraine and other factors was recognized, the disclosure described expectations for the normalization of socioeconomic activity and increased live entertainment activity as infections declined. - FY2023RestatedAnnual report
「During the consolidated fiscal year, Japan's economy remained subject to uncertainty about the outlook for economic conditions owing to the prolonged situation in Ukraine and rapid fluctuations in foreign exchange rates. However, as the number of COVID-19 cases declined, normalization of socioeconomic activity was expected, along with increased live entertainment activity in Japan and overseas.」
While continued uncertainty arising from the situation in Ukraine and fluctuations in foreign exchange rates was recognized, the disclosure also described expectations for a decline in infections, normalization of socioeconomic activity, and increased live entertainment activity. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, various restrictions were gradually eased as the number of COVID-19 cases declined, and signs of the normalization of socioeconomic activity emerged. However, the outlook for economic conditions remained uncertain owing to the prolonged situation in Ukraine and rapid fluctuations in foreign exchange rates.」
While the easing of restrictions related to COVID-19 and signs of normalization were recognized, uncertainty about the outlook for economic conditions arising from the prolonged situation in Ukraine and rapid fluctuations in foreign exchange rates continued. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, various restrictions were gradually eased as the number of COVID-19 cases declined, and signs of the normalization of socioeconomic activity emerged. However, the outlook for economic conditions remained uncertain owing to the prolonged situation in Ukraine and rapid fluctuations in foreign exchange rates.」
While the easing of restrictions related to COVID-19 and signs of normalization were recognized, uncertainty about the outlook for economic conditions arising from the prolonged situation in Ukraine and rapid fluctuations in foreign exchange rates continued to be described. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter of the fiscal year, various restrictions were gradually eased as the number of COVID-19 cases declined, and signs of the normalization of socioeconomic activity emerged. However, corporate activity and private consumption stagnated owing to the prolonged situation in Ukraine, rapidly rising prices resulting from the sharp depreciation of the yen, and other factors, and the outlook for economic conditions remained uncertain.」
While the easing of restrictions related to COVID-19 and signs of normalization were described, the prolonged situation in Ukraine, the sharp depreciation of the yen, and stagnation in corporate activity and private consumption owing to rising prices were explicitly identified as new factors contributing to uncertainty. - FY2022RestatedAnnual report
「During the fiscal year, Japan's economy showed efforts aimed at reducing the impact of COVID-19, including vaccination, while the outlook for economic conditions remained uncertain owing to concerns over the spread of variants.」
The recognition continues that, although efforts are being made to reduce the impact through vaccination and other measures, the outlook for economic conditions remains uncertain against the backdrop of concerns over the spread of variants. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy showed efforts aimed at reducing the impact of COVID-19, including vaccination, while the outlook for economic conditions remained uncertain owing to concerns over the spread of variants.」
The recognition continues that, although efforts are being made to reduce the impact of COVID-19 through vaccination and other measures, the outlook for economic conditions remains uncertain owing to concerns over the spread of variants. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy showed efforts aimed at reducing the impact of COVID-19, including vaccination, while the outlook for economic conditions remained uncertain owing to concerns over the spread of variants.」
The recognition continues that, although efforts are being made to reduce the impact of COVID-19 through vaccination and other measures, the outlook for economic conditions remains uncertain owing to concerns over the spread of variants. - FY2022-Q1RestatedAnnual report
「However, if the number of infections increases again, there is a risk that economic activity will be constrained by requests for voluntary restraint and declarations of a state of emergency, and caution remains necessary regarding the outlook for the business environment.」
The risks of constrained economic activity owing to a renewed increase in infections, requests for voluntary restraint, and declarations of a state of emergency continue to be recognized. - FY2021RestatedAnnual report
「Although some signs of recovery were seen as efforts were made to balance preventing the spread of COVID-19 with economic activity, there was a risk that economic activity would be constrained by stronger requests for voluntary restraint and declarations of a state of emergency following the renewed increase in infections, and caution remained necessary regarding the outlook for the business environment.」
The risks of constrained economic activity owing to a renewed spread of COVID-19, requests for voluntary restraint, and declarations of a state of emergency continue to be recognized. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy showed some signs of recovery as it sought to balance preventing the spread of COVID-19 with economic activity. However, economic activity was at risk of being constrained by stronger requests for voluntary restraint and declarations of a state of emergency following the renewed increase in infections, and caution remained necessary regarding the outlook for the business environment.」
Following the renewed increase in COVID-19 infections, the risks of constrained economic activity owing to stronger requests for voluntary restraint and declarations of a state of emergency were specifically described, indicating that the risk factors had intensified from the previous uncertainty about the outlook. - FY2021-Q1RestatedAnnual report
「Although a gradual resumption of socioeconomic activity is expected amid uncertainty over a further spread of COVID-19, caution remains necessary regarding the outlook for the business environment.」
Uncertainty about the outlook for the business environment arising from a further spread of COVID-19 continues to be recognized, but no new changes beyond the risks previously identified have been indicated. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy experienced a temporary downturn centered on private consumption owing to the impact of natural conditions and the consumption tax increase. Although the economy remained on a moderate recovery trend against the backdrop of improving employment and income conditions, the outlook remains uncertain owing to the spread of COVID-19 and other factors.」
In addition to the longstanding uncertainty surrounding the economic environment, the spread of COVID-19 was explicitly identified as a factor contributing to uncertainty about the outlook. - FY2020-Q2RestatedAnnual report
「However, the outlook for overseas economies remains uncertain owing to factors including slower global trade growth resulting from US-China trade friction and political developments in Europe and the United States.」
Uncertainty in overseas economies arising from US-China trade friction, slower global trade growth, and political developments in Europe and the United States continues to be recognized. - FY2020-Q1RestatedAnnual report
「However, the outlook remains uncertain owing to the impact of developments in trade issues on the global economy, uncertainty in overseas economies, fluctuations in financial and capital markets, and other factors.」
Uncertainty about the outlook arising from trade issues, overseas economies, and fluctuations in financial and capital markets continues to be recognized. - FY2019RestatedAnnual report
「However, owing in part to factors such as the unstable international situation, the outlook remains uncertain.」
Uncertainty about the outlook arising from economic conditions and the international situation continues to be recognized. - FY2019-Q3First statedAnnual report
「Although uncertainty about the outlook remains, the overall trend of moderate recovery continued.」
While uncertainty about the economic outlook remains, the disclosure states that the moderate recovery trend continued during the period.