Political, Economic, Institutional and Social Conditions Risks at Overseas Locations
First written in FY2017. 4 of 15 entries say "Worsened", first in FY2024. Latest entry: 2026-08-05.
The whole theme swung hardest in 2024: 11 of 19 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- 2026-08-05MitigatedRevision of earnings forecasts
「Compared with the forecast announced on 15 May 2026, we will revise the forecast upward because sales and each profit item are expected to exceed the previous forecast, reflecting the effectiveness of measures addressing the impact of the situation in the Middle East on Thailand and the yen's movement weaker than assumed.」
The effectiveness of measures addressing the impact of the situation in the Middle East on Thailand was cited as a factor behind the upward revision to the earnings forecast. The canonical thread remains unchanged. - FY2026Expanded external risks to include tariffs, conditions in the Middle East and logistics disruptionsAnnual report
「In the automotive industry, the business environment remains uncertain due to the slowdown in the shift to EVs, the diversification of powertrains, an increase in corporate reorganizations and labor shortages, as well as recent increases in energy costs resulting from conditions in the Middle East and logistics disruptions.」
In addition to the previously identified tariff policy and geopolitical risks, the slowdown in the shift to EVs, powertrain diversification, soaring energy costs resulting from conditions in the Middle East, and logistics disruptions were listed as specific sources of uncertainty. - 2026-05-15WorsenedEarnings
「Although the global economy shows signs of slowing because of the fluidity of U.S. tariff policy, geopolitical risks and other factors, moderate overall growth is expected, supported by government policies in various countries.」
In addition to U.S. tariff policy and geopolitical risks, rising energy costs and logistics disruptions resulting from the situation in the Middle East were identified as sources of uncertainty in the business environment. - FY2025Specified geopolitical, tariff and monetary policy risksAnnual report
「Although solid growth is expected for the global economy, uncertainty has increased due to the prolonged situations in Ukraine and the Middle East, delayed economic recoveries in Europe and China, and shifts in monetary policy in various countries. In the United States, tariff policies have recently been announced, making it difficult to forecast their impact on performance at domestic and overseas operations.」
For overseas business-environment risks, the Company specifically disclosed the situations in Ukraine and the Middle East, delayed recoveries in Europe and China, shifts in monetary policy, and the impact of U.S. tariff policies on performance. - FY2025-H1WorsenedAnnual report
「Demand for construction machinery remained at a low level due to the effects of rising interest rates in North America, Europe and the ASEAN region, as well as the weakness of the Chinese economy.」
In the overseas business environment, rising interest rates in North America, Europe and ASEAN, together with weakness in the Chinese economy, resulted in low construction machinery demand. - FY2024WorsenedAnnual report
「In the fourth quarter, operations were suspended and production was adjusted due to a UAW strike in the United States and supply shortages at domestic body manufacturers, affecting production activities.」
The business environment, including overseas operations, was affected by a specific instance of social unrest, the UAW strike in the United States, which resulted in operating suspensions and production adjustments. - FY2024-Q3RestatedAnnual report
「During the first nine months of the fiscal year, the business environment for domestic and overseas truck and construction machinery operations remained uncertain. Although shortages of semiconductors and other parts were improving, the yen's depreciation and concerns about a global economic downturn persisted.」
Although shortages of semiconductors and other parts were reported to be improving, the business environment remained uncertain due to the yen's depreciation and concerns about a global economic downturn. - FY2024-Q2Disclosed yen depreciation and concerns about an economic downturn while parts shortages continued to improveAnnual report
「During the first six months of the fiscal year, the business environment for domestic and overseas truck and construction machinery operations remained uncertain. Although shortages of semiconductors and other parts were improving, the yen's depreciation and concerns about a global economic downturn persisted.」
While shortages of semiconductors and other parts were reported to be improving, the yen's depreciation and concerns about a global economic downturn were listed as new sources of uncertainty. - FY2024-Q1Added concerns about an economic downturn while parts shortages were improvingAnnual report
「During the first quarter of the fiscal year, the business environment for domestic and overseas truck and construction machinery operations remained uncertain. Although shortages of semiconductors and other parts were improving, raw material prices and energy costs remained elevated, while sharp currency fluctuations and concerns about a global economic downturn persisted.」
Although shortages of semiconductors and other parts were reported to be improving, elevated raw material and energy costs, sharp currency fluctuations and concerns about a global economic downturn were listed as sources of uncertainty. - FY2023-Q3Added sharp currency fluctuations to overseas business-environment risksAnnual report
「During the first nine months of the fiscal year, the business environment for domestic and overseas truck and construction machinery operations remained uncertain. Parts supply constraints continued due to China's lockdowns, the semiconductor shortage and logistics disruptions, while energy costs and raw material prices remained elevated because of conditions in Europe, alongside sharp currency fluctuations.」
In addition to China's lockdowns, the semiconductor shortage, logistics disruptions and conditions in Europe, sharp currency fluctuations were identified as a source of uncertainty in the overseas business environment. - FY2023-Q2RestatedAnnual report
「During the six months ended the second quarter of the current fiscal year, the business environment for domestic and overseas trucks and construction machinery remained uncertain due to continuing supply constraints for parts caused by China's lockdowns, the semiconductor shortage and logistics disruptions, as well as higher energy and resource prices resulting from the situation in Europe.」
External risks relating to the overseas business environment, including China's lockdowns, logistics disruptions, conditions in Europe, and soaring energy and resource prices, continue to be disclosed. - FY2023-Q1Specified external-environment risks including China's lockdowns and conditions in EuropeAnnual report
「During the first quarter of the fiscal year, the business environment for domestic and overseas truck and construction machinery operations remained uncertain due to the continuing semiconductor shortage, soaring resource prices resulting from China's lockdowns and conditions in Europe, and other factors.」
For the overseas business environment, China's lockdowns, conditions in Europe and soaring resource prices were identified as specific sources of uncertainty. - FY2020Expanded the scope of overseas business risks to include infectious diseases and securing personnel, and disclosed the overseas sales ratioAnnual report
「Overseas sales account for approximately 50% of consolidated sales. If any of the following risks arise in overseas operations, they could adversely affect the Group's operating results and financial position.」
In addition to the previously listed political, economic and institutional risks, the Company listed infectious diseases, natural disasters, rising labor costs, difficulty securing personnel, and changes in the operating environment for joint ventures, and disclosed an overseas sales ratio of approximately 50%. - FY2018RestatedAnnual report
「The Group conducts business in Japan, Asia, China, North America and Europe. If any of the following risks arise in these operations, they could adversely affect the Group's operating results and financial position. ・Political or economic instability and social unrest ・Changes in laws, regulations or tax systems ・Labor disputes ・War or terrorism」
Political and economic, institutional, labor, war and terrorism, and other risks relating to overseas operations continue to be listed as annual risk items. - FY2017First statedAnnual report
「The Group conducts business in Japan, Asia, China, North America and Europe. If any of the following risks arise in these operations, they could adversely affect the Group's operating results and financial position. ・Political or economic instability and social unrest ・Changes in laws, regulations or tax systems ・Labor disputes ・War or terrorism」
Political and economic, institutional, labor, war and terrorism, and other external-environment risks associated with operating in multiple regions are listed.