Political, Regulatory, Tax and Human Resources Risks Associated with Overseas Business Activities
First written in FY2018. 5 of 10 entries say "Materialised", first in FY2026-H1. Latest entry: 2026-08-05.
Subaru moved to the "Worse" side of this theme in 2024, 2 years after the typical company in this theme (2022).
The whole theme swung hardest in 2024: 6 of 10 companies on the "Worse" side.
9 other companies' latest entry also says "Restated".
- FY2026-H1MaterialisedAnnual report
「In terms of profit, in addition to the reasons described above, the impact of additional U.S. tariffs, higher research and development expenses and rising raw material prices resulted in operating income of ¥102.7 billion, a year-on-year decrease of ¥119.3 billion, or 53.8%.」
As a political and trade risk associated with overseas business, the impact of additional U.S. tariffs emerged as an actual factor behind the decline in operating income for the current interim period. - FY2025WorsenedAnnual report
「In particular, the U.S. tariff policy is affecting completed vehicles imported from Japan by the U.S. sales subsidiary and certain components imported from some countries for production at U.S. manufacturing facilities.」
Political, regulatory and trade risks associated with overseas business materialized as specific risks, with U.S. tariff policy affecting both imports of completed vehicles and components for vehicles produced in the United States. - FY2024WorsenedAnnual report
「The global economy during the current consolidated fiscal year remained uncertain, as geopolitical risks increased due to the prolonged Russia-Ukraine situation and the outbreak of conflict in the Middle East, while interest rate hikes in response to rising prices also contributed to uncertainty about the economic outlook.」
Regarding political and geopolitical risks associated with overseas business, the Company cited the prolonged Russia-Ukraine situation and the outbreak of conflict in the Middle East, and described the resulting increase in geopolitical risks. - FY2023Impact of the Russia-Ukraine Situation Assessed as LimitedAnnual report
「The impact of the Russia-Ukraine situation on the Group is currently expected to be limited because the Group does not have local production in the region and its sales there are extremely small.」
The Company assessed the current impact of political and geopolitical risks related to its overseas business as limited because it has no local production in the region and its sales there are small. - FY2018First statedAnnual report
「Business activities in overseas markets entail the following risks, and if these risks materialize, they may adversely affect the Group's operating results and financial position: • adverse political and economic factors • obstacles arising from changes in laws or regulations • taxation, tariffs and other tax changes • difficulties in recruiting and retaining personnel」
Separately from overseas sales and foreign exchange, the Company disclosed for the first time standalone risks related to the political and economic environment, laws and regulations, taxation and securing human resources for overseas businesses.