Uncertainty over Overseas Conditions and the Economic Outlook
First written in FY2017-Q1. 15 of 38 entries say "Restated". Latest entry: 2026-08-03.
The whole theme swung hardest in 2022: 104 of 134 companies on the "Worse" side.
- FY2026Limited tariff impact, with uncertainty continuingAnnual report
「As implementation of reciprocal tariffs between Japan, the US and other countries moved toward a soft landing, and key customers gained a better understanding of the tariff burden, the downward pressure on business performance initially anticipated ultimately had only a limited impact.」
Although the downward pressure initially anticipated from tariff policy was explained to have been limited, uncertainty related to the slowdown in China's growth, geopolitical risks and supply chain disruption continues. - FY2026-H1Improved visibility on tariff impacts, with uncertainty continuingAnnual report
「During the six months ended 30 September, the application of tariff rates based on the US-Japan agreement began under US tariff policy, making the impact of tariffs on our subsequent business performance somewhat more predictable. However, the possibility of future changes remains, requiring continued monitoring.」
Although the start of applying tariff rates based on the US-Japan agreement was said to have made the tariff impact somewhat more predictable, it was explained that the possibility of future changes remains. Concerns over the conflicts in Ukraine and the Middle East, the weak Chinese economy and the impact of protectionism on supply chains were also noted. - FY2025WorsenedAnnual report
「Against this backdrop, following the US presidential election in November 2024, major changes to US tariff policy were announced, heightening concerns over higher trade costs, a resurgence of inflation in the US and a global economic slowdown. Conflicts in Ukraine and the Middle East also continue, and the global economic environment remains uncertain.」
Concerns over major changes to US tariff policy, higher trade costs, a resurgence of inflation and a global economic slowdown have newly taken concrete form, while conflicts in Ukraine and the Middle East continue. - FY2025-H1WorsenedAnnual report
「Meanwhile, the recession and slowdown in growth in China have become increasingly severe, affecting our production and sales activities in the region. Tensions in the Middle East have also risen, and the global business environment remains uncertain.」
The recession and slowdown in China's growth have become more severe, while rising tensions in the Middle East have added to and intensified the factors causing uncertainty over overseas conditions and the economy. - FY2024RestatedAnnual report
「Geopolitical risks, including the war in the Middle East and the worsening and prolongation of the situation in Ukraine, continue, while uncertainty remains over the outlook, including concerns about the Chinese economy and developments in US-China relations.」
Uncertainty over overseas conditions and the economy, including geopolitical risks in the Middle East and Ukraine, concerns about the Chinese economy and developments in US-China relations, continues to be identified. - FY2024-Q3WorsenedAnnual report
「During the nine months ended 31 December, a conflict broke out in the Middle East. Together with the situation in Ukraine, geopolitical risks showed no signs of improvement, and the recovery of the Chinese economy remained slow. Although uncertainty in global markets continued, the stabilization of semiconductor supplies contributed to improving demand for automotive products in some regions.」
In addition to the existing situation in Ukraine and stagnation in the Chinese economy, a conflict broke out in the Middle East, and geopolitical risks and uncertainty in global markets continued. At the same time, stabilization of semiconductor supplies and improved demand in some regions were also noted. - FY2024-Q2WorsenedAnnual report
「During the six months ended 30 September, no signs of improvement were visible in the situation in Ukraine, progress in the recovery of the Chinese economy remained slow, and uncertainty in global markets continued. With the yen remaining weak, high prices and energy costs were also slow to subside, and the external environment remained uncertain.」
The absence of signs of improvement in the situation in Ukraine, delays in the recovery of the Chinese economy and the slow easing of high prices and energy costs were identified, with uncertainty in the external environment continuing. - FY2024-Q1WorsenedAnnual report
「During the three months ended 30 June, the impact of production cuts caused by the semiconductor shortage was easing, but the prolonged situation in Ukraine, stagnation in the Chinese economy, and high global prices and energy costs continued, leaving the outlook uncertain.」
Although the impact of production cuts caused by the semiconductor shortage was considered to be easing, the prolonged situation in Ukraine, stagnation in the Chinese economy, high prices and high energy costs were identified as continuing external-environment factors. - FY2023-Q2RestatedAnnual report
「During the six months ended 30 September, concerns remained that challenging conditions would continue, despite signs of recovery, due to factors including the prolonged invasion of Ukraine, deteriorating Chinese demand following the Shanghai lockdown, the semiconductor shortage and higher raw material prices.」
Challenging external conditions due to the prolonged invasion of Ukraine, the Shanghai lockdown, deteriorating Chinese demand, the semiconductor shortage and higher raw material prices continue to be identified. - FY2023-Q1WorsenedAnnual report
「During the three months ended 30 June, the economic environment remained challenging, despite signs of recovery from last year's COVID-19 pandemic, due to factors including the prolonged invasion of Ukraine, deteriorating Chinese demand following the Shanghai lockdown, the semiconductor shortage and higher raw material prices. Concerns remain that uncertainty will continue.」
In addition to the existing COVID-19 pandemic and semiconductor shortage, the prolonged invasion of Ukraine and deteriorating Chinese demand following the Shanghai lockdown have been identified as new downside factors. - FY2022WorsenedAnnual report
「During the fiscal year, the economic environment remained challenging, despite signs of recovery from last year's COVID-19 pandemic, due to factors including the semiconductor shortage, higher raw material prices and escalating tensions surrounding Ukraine. Concerns remain that uncertainty will continue.」
In addition to the existing COVID-19 pandemic and trade friction, the semiconductor shortage, higher raw material prices and escalating tensions surrounding Ukraine were identified as external-environment risks for the full year. - FY2022-Q3RestatedAnnual report
「During the nine months ended 31 December, the economic environment remained challenging due to factors including the semiconductor shortage, higher raw material prices and the effects of the spread of COVID-19, despite signs of recovery. As future economic conditions will depend on the resolution of the semiconductor shortage and the recovery from the COVID-19 pandemic, concerns remain that uncertainty will continue.」
Although the economy is showing signs of recovery, uncertainty related to the semiconductor shortage, higher raw material prices, COVID-19 and dependence on the pace of recovery continues to be identified. - FY2022-Q2RestatedAnnual report
「During the six months ended 30 September, the economic environment remained challenging due to factors including the semiconductor shortage, higher raw material prices and the effects of the spread of COVID-19, despite signs of recovery. As future economic conditions will depend on the resolution of the semiconductor shortage and the recovery from the COVID-19 pandemic, concerns remain that uncertainty will continue.」
Although the economy is showing signs of recovery, uncertainty related to the semiconductor shortage, higher raw material prices, COVID-19 and dependence on the pace of recovery continues to be identified. - FY2022-Q1WorsenedAnnual report
「During the three months ended 30 June, the economic environment remained challenging due to factors including the semiconductor shortage, higher raw material prices and the effects of the spread of COVID-19, despite signs of a partial recovery. As future economic conditions will depend on the course of the pandemic, concerns remain that uncertainty over the outlook will continue.」
Although signs of a partial recovery have emerged, the semiconductor shortage, higher raw material prices and the effects of COVID-19 have been identified as factors weighing on the economy, while uncertainty over the outlook continues. - FY2021-Q3RestatedAnnual report
「During the nine months ended 31 December, the economic environment deteriorated sharply as a result of the spread of COVID-19. As future economic conditions will depend on the course of the pandemic, concerns remain that severe conditions will continue.」
The global economy deteriorated sharply due to COVID-19, and a challenging outlook dependent on the course of the pandemic continues to be identified. - FY2021-Q2RestatedAnnual report
「During the six months ended 30 September, the economic environment deteriorated sharply as a result of the spread of COVID-19. As future economic conditions will depend on the course of the pandemic, concerns remain that severe conditions will continue.」
A sharp deterioration in the global economy due to COVID-19 and a challenging economic outlook dependent on the course of the pandemic continue to be identified. - FY2021-Q1WorsenedAnnual report
「During the three months ended 30 June, the economic environment deteriorated sharply as a result of the spread of COVID-19. As economic conditions will continue to depend heavily on the course of the pandemic, concerns remain that uncertainty will persist.」
In addition to the existing slowdown in the global economy and trade friction, a sharp deterioration in the global economy due to the spread of COVID-19 and uncertainty dependent on the course of the pandemic have been identified. - FY2020WorsenedAnnual report
「During the fiscal year, the economic environment remained resilient as domestic demand stayed solid despite sluggish exports against a backdrop of a gradual slowdown in the global economy. However, concerns remain over the risk of a sharp deterioration in the global economy due to the spread of COVID-19.」
In addition to the slowdown in the global economy and trade friction, the risk of a deterioration in the global economy due to the spread of COVID-19 was newly identified. - FY2020-Q3RestatedAnnual report
「During the nine months ended 31 December, the economic environment remained resilient. Against a backdrop of a gradual slowdown in the global economy, exports struggled to grow while domestic demand remained solid. Going forward, concerns remain over risks that could weigh on the economy, including slowdowns in the Chinese and Indian economies, US-China trade friction and the UK's withdrawal from the European Union (EU).」
The slowdown in the global economy, sluggish exports, slowdowns in the Chinese and Indian economies, US-China trade friction and the UK's withdrawal from the EU continue to be identified as downside risks to the economy. - FY2020-Q2WorsenedAnnual report
「During the six months ended 30 September, the economic environment remained resilient. Against a backdrop of a gradual slowdown in the global economy, exports struggled to grow while domestic demand remained solid. Going forward, concerns remain over risks that could weigh on the economy, including slowdowns in the Chinese and Indian economies, US-China trade friction and the UK's withdrawal from the European Union (EU).」
In addition to the existing protectionism and geopolitical uncertainty, the slowdown in the global economy, slowdowns in the Chinese and Indian economies, US-China trade friction and the UK's withdrawal from the EU have been identified as downside risks to the economy. - FY2020-Q1MaterialisedAnnual report
「Operating profit decreased by ¥235 million year on year to ¥36 million, due to higher costs resulting from tariff increases, increased scrap expenses and other factors.」
Regarding risks from overseas conditions, including US-China trade friction, higher costs from tariff increases in the US have actually emerged as a factor reducing operating profit in the US segment. - FY2019MaterialisedAnnual report
「In the fiscal year ended March 2019, the risk materialized and affected business performance as tariff increases associated with US-China trade friction took effect.」
It was stated that, in addition to the existing uncertainty over overseas conditions and trade policy, tariff increases associated with US-China trade friction had actually affected business performance. - FY2019-Q3MaterialisedAnnual report
「Going forward, concerns remain over the risk that the slowdown in the Chinese economy and the US protectionist trade policy will weigh on the economy.」
The slowdown in the Chinese economy and the US protectionist trade policy continue to be identified as risks, while higher costs from tariff increases in the US have already emerged as a factor reducing operating profit. - FY2019-Q2RestatedAnnual report
「Going forward, concerns remain over the risk that the US protectionist trade policy will weigh on the economy.」
Although the economy is considered resilient, supported by increased exports and solid domestic demand, the risk of an economic downturn caused by the US protectionist trade policy remains. - FY2019-Q1RestatedAnnual report
「Going forward, uncertainty over the protectionist policy direction of the US and geopolitical risks is expected to continue.」
Uncertainty over overseas conditions, including the protectionist policy direction of the US and geopolitical risks, remains. - FY2018RestatedAnnual report
「Going forward, uncertainty over the protectionist policy direction of the US administration and geopolitical risks is expected to continue.」
Uncertainty over overseas conditions, including the protectionist policy direction of the US and geopolitical risks, remains. - FY2018-Q3RestatedAnnual report
「Going forward, uncertainty over the protectionist policy direction of the new US administration and the situation in North Korea is expected to continue.」
Uncertainty over overseas conditions, including the protectionist policy direction of the US and the situation in North Korea, remains. - FY2018-Q2RestatedAnnual report
「Going forward, uncertainty over the protectionist policy direction of the new US administration and the situation in North Korea is expected to continue.」
Uncertainty over overseas conditions, including the protectionist policy direction of the US and the situation in North Korea, remains. - FY2018-Q1RestatedAnnual report
「During the three months ended 30 June, the economic environment was on a gradual recovery trend, with improved corporate earnings conditions sustained against a backdrop of increased exports and the yen's depreciation. Going forward, uncertainty over overseas political developments, including the protectionist policy direction of the new US administration, is expected to continue.」
Although improved corporate earnings conditions and a gradual recovery trend continue, uncertainty over overseas political developments, including the protectionist policy direction of the new US administration, remains. - FY2017Sustained recovery trend and political uncertaintyAnnual report
「Going forward, uncertainty over overseas political developments, including the protectionist policy direction of the new US administration and elections in continental Europe, is expected to continue.」
Although corporate earnings conditions are improving and the economy continues to recover gradually, uncertainty surrounding the protectionist stance of the new US administration and elections in Europe remains. - FY2017-Q3Recovery trend coexists with uncertainty over overseas conditionsAnnual report
「During the nine months ended 31 December, the economic environment was on a gradual recovery trend, with expectations for improved corporate earnings conditions rising against a backdrop of a weaker yen and higher share prices following the US presidential election. Going forward, uncertainty over overseas conditions, including political instability in Europe such as the UK's withdrawal from the EU and the policy direction of the new US administration, is expected to continue.」
Although the economy was viewed as being on a gradual recovery trend, uncertainty surrounding the UK's withdrawal from the EU and the policy direction of the new US administration continues. - FY2017-Q2RestatedAnnual report
「The global economy remains uncertain, amid the continued strength of the yen, political uncertainty in Europe including the UK's withdrawal from the EU, and developments such as the US presidential election.」
Uncertainty over overseas conditions, including political instability in Europe, the UK's withdrawal from the EU and the US presidential election, continues. - FY2017-Q1First statedAnnual report
「The outlook is deteriorating, weighed down by political instability in Europe, including the UK's withdrawal from the EU, uncertainty over overseas conditions such as the US presidential election, and concerns over deteriorating earnings as the yen strengthens.」
The UK's withdrawal from the EU, political instability in Europe and the US presidential election have been cited as sources of uncertainty for the outlook.