International financial markets and uncertainty over domestic monetary policy
First written in FY2017-Q2. 17 of 35 entries say "Restated". Latest entry: FY2026.
The First Bank Of Toyama moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2020: 42 of 61 companies on the "Worse" side.
37 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「For FY2026, concerns remain over the expansion of geopolitical risks, persistently high crude oil prices and the resulting turbulence in financial markets, and a slowdown in the global economy due to US trade policy.」
Geopolitical risks, persistently high crude oil prices, turbulence in financial markets, and a slowdown in the global economy due to US trade policy continue to be identified as concerns. - FY2026-H1WorsenedAnnual report
「Regarding financial conditions, after the Bank of Japan raised its policy rate to around 0.50% in January, the interest-rate level remained unchanged. However, the yield on 10-year Japanese government bonds rose to above 1.6% by the end of the period, reaching its highest level in approximately 17 years, due to the Bank of Japan's gradual reduction in its purchases of government bonds and expectations of fiscal expansion.」
While the policy rate was maintained at around 0.50%, the yield on 10-year Japanese government bonds exceeded 1.6% and reached its highest level in approximately 17 years against the backdrop of reduced government bond purchases and expectations of fiscal expansion. The disclosure also indicated concerns over the outlook and falling share prices resulting from US tariff policy. - FY2025WorsenedAnnual report
「Amid these economic and financial conditions, the financial position and operating results of our banking group for the current consolidated fiscal year were as follows.」
In addition to rising domestic interest rates and turbulence in financial markets, uncertainty in the global economy and financial markets resulting from US tariff policy was indicated. - FY2025WorsenedAnnual report
「Since the beginning of the year, US tariff policy has increased uncertainty surrounding economic conditions and financial-market trends in countries around the world, including Japan, and there are concerns about the impact of these developments on companies and households.」
US tariff policy was identified as a new source of uncertainty, with concerns expressed about its impact on the global economy and financial markets, including Japan, and its spillover effects on companies and households. - FY2025-H1WorsenedAnnual report
「In light of these economic and price conditions, the Bank of Japan raised its policy rate to around 0.25% at its Monetary Policy Meeting at the end of July. With a virtuous cycle between wages and prices expected to continue, further interest-rate hikes are anticipated, and it is necessary to closely monitor their impact on companies and households.」
The disclosure stated that the Bank of Japan had raised its policy rate to around 0.25% and that further rate hikes were expected, indicating the need to monitor their impact on companies and households. - FY2024ReframedAnnual report
「Against this backdrop, the Bank of Japan discontinued yield curve control at its March Monetary Policy Meeting and shifted to a normal monetary policy framework centered on managing short-term interest rates, while also raising interest rates. In response, our bank also raised deposit interest rates from 1 April, and the environment surrounding bank management is set to change significantly.」
The disclosure shifted from the previous view of an environment centered on negative interest rates and monetary easing to a change in monetary policy, including the Bank of Japan's discontinuation of yield curve control and interest-rate hikes and our bank's increase in deposit interest rates. - FY2024-Q3RestatedAnnual report
「During the first 3 quarters of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year has been retained. - FY2024-Q2WorsenedAnnual report
「Regarding financial conditions, the Bank of Japan announced a revision to yield curve control at its July Monetary Policy Meeting, and domestic interest rates began to show a gradual upward trend, with the yield on 10-year Japanese government bonds moving above the previous level of 0.5%. Meanwhile, the yen continued to weaken against the dollar against the backdrop of the Japan-US interest-rate differential. From August onward, the exchange rate remained above ¥145 to the dollar, raising concerns about the impact of higher import prices on companies and households.」
The revision of yield curve control by the Bank of Japan, rising domestic interest rates, yen depreciation to above ¥145 per dollar, and concerns about the impact of higher import prices were specified as sources of uncertainty for international financial markets and the domestic economy. quantified=true, materialized=true. - FY2023-Q3RestatedAnnual report
「During the first 3 quarters of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year has been retained. - FY2023-Q2WorsenedAnnual report
「Looking back at the first half of FY2022, the global economy accelerated into inflation as the recovery from COVID-19, together with a sharp rise in resource prices resulting from the deterioration of the situation in Ukraine and other factors, led countries including the US to shift toward monetary tightening. Long-term interest rates therefore rose rapidly, and in the US in particular, the policy rate was raised by more than the market had expected in response to a higher-than-expected rise in inflation. Meanwhile, in Japan, inflationary pressure was relatively weaker than in the US and elsewhere, and the economy lacked strength. As the Bank of Japan continued monetary easing, the yen weakened at an accelerating pace against the backdrop of a widening Japan-US interest-rate differential. In September, the exchange rate exceeded ¥140 to the dollar, and the government and the Bank of Japan conducted their first foreign-exchange intervention in 24 years, but the yen has continued to weaken since then. The trade deficit has widened as a result of the structure of energy procurement dependent on imports and the long-term relocation of production bases overseas.」
The deterioration of the situation in Ukraine, higher resource prices, global inflation, monetary tightening in various countries, yen depreciation driven by the Japan-US interest-rate differential, foreign-exchange intervention for the first time in 24 years, and the widening trade deficit were specified as sources of uncertainty for international finance and the domestic economy. These items were quantified and described as events that had actually occurred. quantified=true, materialized=true. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year has been retained. - FY2022WorsenedAnnual report
「Meanwhile, shortages caused by the recovery of the economy from COVID-19, the impact of economic sanctions against Russia, and the stagnation of new fossil-fuel resource development amid the recent drive toward decarbonization have caused prices for a broad range of raw materials, including crude oil, grains and metals, to remain high. As concerns grow over downside risks to the economy, the outlook for economic conditions has become increasingly uncertain.」
The factors contributing to downside risks to the economy were newly specified, including economic sanctions against Russia, supply-demand tightness, stagnant fossil-fuel development amid the shift toward decarbonization, and higher raw-material prices. - FY2022-Q3RestatedAnnual report
「During the first 3 quarters of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
FY2022-Q3: The disclosure that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year has been retained. - FY2022-Q2Explicitly identified the risk that supply constraints could delay the economic recoveryAnnual report
「Meanwhile, attention must also be paid to the risk that the timing of the economic recovery could be delayed if supply constraints, such as the global semiconductor shortage and production cuts caused by difficulties in automakers' parts procurement, continue for longer than expected.」
In addition to the previous uncertainty in international financial markets and the domestic economy, supply constraints caused by the semiconductor shortage and difficulties in procuring automotive parts were explicitly identified as risks that could delay the economic recovery. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year. - FY2021RestatedAnnual report
「This fiscal year as well, the timing of a complete end to the infectious disease outbreak remains unforeseeable, and it has become difficult to predict the future because the pace of economic recovery differs by country, region and industry.」
It is stated that uncertainty remains over the economy due to the outlook for the end of the COVID-19 pandemic and differences in recovery by country, region and industry. - FY2021-Q3RestatedAnnual report
「During the first 3 quarters of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year. - FY2021-Q2WorsenedAnnual report
「Regarding the outlook for the domestic economy, there are views that it will recover gradually while a balance is sought between socioeconomic activity and preventing the spread of infection. However, the resurgence of infections is becoming more serious in Europe and the downside risk to exports is increasing, and it is expected to take time for the economy to return to pre-COVID-19 levels.」
The downside risk to exports from a resurgence of infections and the outlook that it will take time for the economy to return to pre-COVID-19 levels were explicitly stated. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the consolidated companies, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the occurrence of major risks or in the business and other risks described in the annual securities report for the previous fiscal year. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows has been retained. - FY2020-Q2WorsenedAnnual report
「Regarding the outlook for the domestic economy, concerns include the continued weakness of exports due to a slowdown in the global economy arising from adverse effects of friction between the US and other countries over economic and trade policy, as well as a deterioration in consumer sentiment following the consumption tax increase.」
The adverse effects of trade friction with the US and other countries, a slowdown in the global economy, continued export weakness, and deterioration in consumer sentiment after the consumption tax increase were explicitly identified as concerns for the outlook of the domestic economy. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows has been retained. - FY2019WorsenedAnnual report
「The domestic economy in FY2019 started to show increasing signs of a slowdown, due not only to the adverse effects of friction between the US and other countries over economic and trade policy, but also to a slowdown in capital investment following the completion of Olympic-related investment. Looking ahead, there are also concerns about the impact if the consumption tax rate is raised, and attention will focus on whether the previous trend of gradual economic expansion can be maintained.」
Friction between the US and other countries over economic and trade policy, a slowdown in capital investment, and concerns about the impact of a consumption tax increase were explicitly identified as risks to the outlook for the domestic economy. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows has been retained. - FY2019-Q2RestatedAnnual report
「However, continued attention must be paid to the risk of disruption to the economy and financial markets arising from concerns over a slowdown in the Chinese economy due to US-China trade friction and friction between the US and other countries.」
It is stated that continued attention is required regarding US-China trade friction, concerns over a slowdown in the Chinese economy, and the risk of disruption to the economy and financial markets caused by friction between the US and other countries. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows has been retained. - FY2018WorsenedAnnual report
「However, attention must be paid to the risk of disruption to the economy and financial markets arising from geopolitical risks in Northeast Asia and elsewhere, as well as friction between the US and other countries over economic and trade policy.」
In addition to the previous references to US policy and geopolitical risks, the risk of disruption to the economy and financial markets arising from Northeast Asia and trade friction between the US and other countries was explicitly stated. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows has been retained. - FY2018-Q2RestatedAnnual report
「However, attention must be paid to the impact on the domestic economy of uncertainty over US economic and foreign-exchange policy and concerns over so-called geopolitical risks, including through fluctuations in the yen-dollar exchange rate.」
It is stated that continued attention is required regarding the potential impact of uncertainty over US economic and foreign-exchange policy and geopolitical risks on the domestic economy. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows has been retained. - FY2017WorsenedAnnual report
「However, attention must be paid to the impact on the domestic economy of uncertainty over the economic and foreign-exchange policies of the new US administration, as well as concerns over so-called geopolitical risks, including through fluctuations in the yen-dollar exchange rate.」
The policies of the new US administration, uncertainty over its foreign-exchange policy, and the impact of geopolitical risks on the domestic economy were newly stated explicitly, broadening the scope of uncertainty relating to international financial markets. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no material changes in unusual fluctuations in the Company's financial position, operating results or cash flows, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in business and other risks or in unusual fluctuations in the financial position, operating results or cash flows. - FY2017-Q2First statedAnnual report
「However, there are concerns about the impact of the UK's withdrawal from the EU, trends in the US economy and monetary policy, and trends in the Chinese and resource-rich economies on financial and capital markets and the global economy. In Japan, the Bank of Japan conducted a comprehensive review of the policy effects since the introduction of quantitative and qualitative monetary easing and implemented a new framework, quantitative and qualitative monetary easing with yield curve control. Nevertheless, uncertainty remains over sustainable growth in the domestic economy, including concerns about the outlook for prices.」
The UK's withdrawal from the EU, the US, Chinese and resource-rich economies, monetary policy, and the outlook for prices have been identified as sources of uncertainty for financial and capital markets and the domestic economy.