Uncertainty over the Outlook Due to the UK's Withdrawal from the EU, Emerging-Market Slowdown, Yen Appreciation and Falling Stock Prices
First written in FY2017-Q1. 13 of 37 entries say "Reframed", first in FY2017-Q3. Latest entry: 2026-10-30.
Car Mate Mfg. moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 144 of 177 companies on the "Worse" side.
56 other companies' latest entry also says "Restated".
- FY2026ReframedAnnual report
「However, amid unstable international conditions, the business environment surrounding the Group remained challenging due to persistently high resource, energy and raw material prices and the prolonged depreciation of the yen.」
Developments in US tariff policy, which had been cited in the previous interim period, were not explicitly stated in the annual disclosure, which instead cites unstable international conditions, persistently high resource, energy and raw material prices, and the prolonged depreciation of the yen as the main factors. - 2026-05-15ReframedOccurring Fact
「今後の経済情勢につきましては、国内では雇用・所得環境の改善等により、景気は緩やかながらも回復基調で推移することが期待されます。その一方で、不安定な国際情勢下、資源・エネルギー価格や原材料価格の高止まりや為替変動リスクなど、依然として先行き不透明な状況が続くものと予想されます。」
今回の見通しでは、個別の国際情勢要因よりも、不安定な国際情勢、資源・原材料価格、為替変動リスクという一般的な表現で整理している。 - FY2026-H1ReframedAnnual report
「During the six months ended the interim period of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity due to improvements in the employment and income environment and increased inbound demand. However, the business environment surrounding the Group remained challenging due to unstable international conditions, developments in US tariff policy, and persistently high resource, energy and raw material prices.」
While referring to signs of recovery, it cites developments in US tariff policy as a new factor in addition to the previously cited unstable international conditions and persistently high resource, energy and raw material prices. - FY2025ReframedAnnual report
「However, amid unstable international conditions, the business environment surrounding the Group remained challenging due to persistently high resource, energy and raw material prices and the prolonged depreciation of the yen.」
In place of the situation in Ukraine and the situation in the Middle East, which had been listed separately through the previous fiscal year, it cites unstable international conditions, persistently high resource, energy and raw material prices, and the prolonged depreciation of the yen as the main factors. - FY2025-H1ReframedAnnual report
「During the six months ended the interim period of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity due to improvements in the employment and income environment and increased inbound demand. However, amid unstable international conditions, resource, energy and raw material prices rose sharply, and the yen also depreciated, leaving the business environment surrounding the Group challenging.」
While indicating signs of recovery, it cites unstable international conditions, rather than the situation in Ukraine and the situation in the Middle East, which had been listed separately in the previous fiscal year, as well as resource and energy prices, raw material prices and the yen's depreciation as the main factors. - FY2024WorsenedAnnual report
「However, domestic and overseas economies were affected by soaring resource, energy and raw material prices. In addition, the prolonged situation in Ukraine, developments in the Middle East and the impact of the yen's depreciation affected the economy, and the business environment surrounding the Group remained challenging.」
In addition to the previously cited soaring resource and raw material prices, the situation in Ukraine and the yen's depreciation, it identifies developments in the Middle East as a new factor. It also cites geopolitical risks and concerns about an expansion of financial instability overseas as future risks. - FY2024-Q3RestatedAnnual report
「During the nine months ended the third quarter of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity as restrictions on activity were eased following the reclassification of COVID-19 as a Class 5 disease. However, domestic and overseas economies were affected by soaring resource, energy and raw material prices. In addition, the prolonged situation in Ukraine and the impact of the yen's depreciation affected the economy, and the business environment surrounding the Group remained challenging.」
While indicating signs of recovery following the reclassification of COVID-19 as a Class 5 disease, it continues to cite the challenging business environment resulting from soaring resource, energy and raw material prices, the prolonged situation in Ukraine and the yen's depreciation. - FY2024-Q2RestatedAnnual report
「During the six months ended the second quarter of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity as restrictions on activity were eased following the reclassification of COVID-19 as a Class 5 disease. However, domestic and overseas economies were affected by soaring resource, energy and raw material prices. In addition, the prolonged situation in Ukraine and the impact of the yen's depreciation affected the economy, and the business environment surrounding the Group remained challenging.」
While indicating signs of recovery following the reclassification of COVID-19 as a Class 5 disease and the easing of restrictions on activity, it continues to cite the challenging business environment resulting from soaring resource, energy and raw material prices, the prolonged situation in Ukraine and the yen's depreciation. - FY2024-Q1ReframedAnnual report
「During the three months ended the first quarter of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity as restrictions on activity were eased following the reclassification of COVID-19 as a Class 5 disease. However, domestic and overseas economies were affected by soaring resource, energy and raw material prices. In addition, the prolonged situation in Ukraine and the impact of the yen's depreciation affected the economy, and the business environment surrounding the Group remained challenging.」
While indicating signs of recovery following the reclassification of COVID-19 as a Class 5 disease and the easing of restrictions on activity, it identifies soaring resource, energy and raw material prices, the prolonged situation in Ukraine and the yen's depreciation as new major factors. - FY2023ReframedAnnual report
「However, the outlook remained uncertain due to factors including soaring crude oil and raw material prices, the prolonged situation in Ukraine and the yen's sharp depreciation, and the business environment surrounding the Group remained challenging.」
While referring to normalization resulting from the easing of restrictions on activity, it identifies soaring crude oil and raw material prices, the prolonged situation in Ukraine and the yen's sharp depreciation as the main sources of uncertainty. - FY2023-Q3ReframedAnnual report
「During the nine months ended the third quarter of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in socioeconomic activity as restrictions on activity and border-control measures related to COVID-19 were eased, but infections also resurged in the eighth wave. In addition, domestic and overseas economies were affected by shortages of semiconductors and components and soaring raw material prices. The outlook remained uncertain due to the prolonged situation in Ukraine and the spread of infections in China, and the business environment surrounding the Group remained challenging.」
While referring to signs of recovery from the easing of restrictions on activity and other measures, it identifies the eighth wave, shortages of semiconductors and components, soaring raw material prices, the prolonged situation in Ukraine and the spread of infections in China as new sources of uncertainty. - FY2023-Q2ReframedAnnual report
「During the six months ended the second quarter of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity as new COVID-19 cases declined and restrictions on activity were eased, but infections also resurged in the seventh wave. In addition, domestic and overseas economies were affected by shortages of semiconductors and components and soaring crude oil and raw material prices. Supply chains were also disrupted by Russia's invasion of Ukraine and lockdowns in China, while the yen depreciated sharply. The business environment surrounding the Group remained challenging.」
While indicating signs of recovery from the decline in infections and the easing of restrictions on activity, it adds the resurgence of infections in the seventh wave and continues to cite the challenging business environment resulting from supply shortages, soaring raw material prices, Russia's invasion of Ukraine, lockdowns in China and the yen's sharp depreciation. - FY2023-Q1WorsenedAnnual report
「During the three months ended the first quarter of the fiscal year under review, Japan's economy showed some positive signs, including a gradual recovery in economic activity as new COVID-19 cases declined and restrictions on activity were eased. However, domestic and overseas economies were affected by shortages of semiconductors and components and soaring crude oil and raw material prices. In addition, supply chains were disrupted by Russia's invasion of Ukraine and lockdowns in China, while the yen depreciated sharply. The business environment surrounding the Group remained challenging.」
While referring to signs of recovery from the decline in infections and the easing of restrictions on activity, it cites shortages of semiconductors and components, soaring crude oil and raw material prices, supply chain disruptions caused by Russia's invasion of Ukraine and lockdowns in China, and the yen's sharp depreciation as new external factors, and states that the challenging business environment continued. - FY2022-Q3WorsenedAnnual report
「The global economy was also significantly affected by COVID-19, and the outlook remained uncertain due to the heightened risk of an economic downturn resulting from factors including soaring crude oil prices and semiconductor shortages. The business environment surrounding the Group remained challenging.」
In addition to the previous uncertainty caused by infectious diseases and variants, it newly identifies the risk of an economic downturn resulting from soaring crude oil prices and semiconductor shortages. - FY2022-Q2ReframedAnnual report
「During the six months ended the second quarter of the fiscal year under review, Japan's economy continued to face certain restrictions on social and economic activity due to the intermittent spread of COVID-19. While the rollout of vaccinations gained momentum and some positive signs emerged, concerns remained about the spread of variants and a sixth wave of infections, and economic activity continued to stagnate across a wide range of areas. The global economy was also significantly affected by COVID-19, and the outlook remained uncertain due to the heightened risk of an economic downturn resulting from the resurgence of infections caused by variants. The business environment surrounding the Group remained challenging.」
While adding positive signs from vaccinations, it continues to cite the spread of variants, concerns about a sixth wave, stagnating economic activity and downside risks. - FY2022-Q1WorsenedAnnual report
「However, the number of infections has begun to rise again, partly due to the impact of more transmissible variants, and the unstable situation has continued, with no visibility on when the pandemic will end. The global outlook also remains uncertain due to concerns about the further spread of COVID-19, and the business environment surrounding the Group remained challenging.」
It explicitly identifies the renewed increase in infections due to the impact of variants and the lack of visibility on when the pandemic will end, and continues to cite uncertainty regarding the outlook due to COVID-19 and the challenging business environment. - FY2021WorsenedAnnual report
「Although efforts toward containing the virus have accelerated, including the start of COVID-19 vaccinations in Japan and overseas, there are also concerns about the spread of variants. The stagnation of economic activity caused by COVID-19 is expected to continue for some time, and uncertainty regarding the outlook has deepened further.」
While referring to efforts toward containment through vaccination, it states that uncertainty regarding the outlook has deepened further due to concerns about the spread of variants and the expected continuation of stagnating economic activity. - FY2021-Q3RestatedAnnual report
「During the nine months ended the third quarter of the fiscal year under review, Japan's economy faced significant restrictions on social and economic activity due to the spread of COVID-19. After the state of emergency was lifted, some signs of recovery emerged, but infections continued to resurge intermittently, with no prospect of containment, and economic activity continued to stagnate across a wide range of areas. The global economy was also significantly affected by COVID-19, and the outlook remained uncertain due to the heightened risk of an economic downturn resulting from a resurgence of infections. The business environment surrounding the Group remained challenging.」
It continues to cite the resurgence of infections, the lack of a prospect for containment, the stagnation of economic activity and the downside risk to the economy, as in the previous quarter. - FY2021-Q2WorsenedAnnual report
「During the six months ended the second quarter of the fiscal year under review, Japan's economy faced significant restrictions on social and economic activity due to the spread of COVID-19. After the state of emergency was lifted, some signs of recovery emerged, but there was still no clear prospect of containing the spread of infections, and economic activity continued to stagnate across a wide range of areas. The global economy was also significantly affected by COVID-19, and the outlook remained uncertain due to the heightened risk of an economic downturn resulting from a resurgence of infections. The business environment surrounding the Group remained challenging.」
It explicitly identifies the lack of a clear prospect for containing the spread of infections and the heightened risk of an economic downturn resulting from a resurgence of infections. - FY2021-Q1WorsenedAnnual report
「During the first three months of the fiscal year under review, Japan's economy was affected by the spread of COVID-19, and a state of emergency was declared in April. Domestic economic activity stagnated as calls to refrain from going out and business closures became widespread, while consumers became increasingly inclined to economize. The global economy was also significantly affected by COVID-19, and the heightened risk of an economic downturn resulting from friction between the US and China made the outlook uncertain. The business environment surrounding the Group remained challenging.」
It continues to cite the state of emergency declared due to COVID-19, the stagnation of economic activity, and the concrete effects on the global economy, as well as the downside risk from friction between the US and China and the challenging business environment. - FY2020MaterialisedAnnual report
「During the fiscal year under review, Japan's economy was on a gradual recovery trend, supported by improvements in corporate performance and the employment and income environment. However, toward the end of the fiscal year, the effects of the spread of COVID-19 emerged across a wide range of areas, and uncertainty regarding the outlook became extremely pronounced.」
It states that the spread of COVID-19 and its impact on the economy had become apparent and that uncertainty regarding the outlook had intensified significantly. - FY2020-Q3RestatedAnnual report
「On the other hand, the outlook for the global economy remains uncertain, including the heightened risk of an economic downturn resulting from trade friction between the US and China,」
It continues to cite the heightened risk of an economic downturn resulting from trade friction between the US and China and uncertainty regarding the outlook. - FY2020-Q2RestatedAnnual report
「On the other hand, the outlook for the global economy remains uncertain, including the heightened risk of an economic downturn resulting from trade friction between the US and China,」
It continues to cite the heightened risk of an economic downturn resulting from trade friction between the US and China and uncertainty regarding the outlook. - FY2020-Q1RestatedAnnual report
「On the other hand, the outlook for the global economy remains uncertain due to the heightened risk of an economic downturn resulting from trade friction between the US and China,」
It continues to cite the heightened risk of an economic downturn resulting from trade friction between the US and China and uncertainty regarding the outlook, as in the previous fiscal year and the previous quarter. - FY2019WorsenedAnnual report
「The outlook for the global economy has become increasingly uncertain due to factors including the heightened risk of an economic downturn resulting from trade friction between the US and China.」
It identifies trade friction between the US and China and explicitly states that the risk of an economic downturn and uncertainty regarding the outlook have increased. - FY2019-Q3RestatedAnnual report
「On the other hand, the outlook for the global economy remains uncertain, including the heightened risk of an economic slowdown due to trade friction,」
It continues to cite the heightened risk of an economic slowdown due to trade friction and uncertainty regarding the outlook for the global economy. - FY2019-Q2RestatedAnnual report
「On the other hand, the outlook for the global economy remains uncertain, including the heightened risk of an economic slowdown due to trade friction,」
It continues to cite the heightened risk of an economic slowdown due to trade friction and uncertainty regarding the outlook for the global economy. - FY2019-Q1WorsenedAnnual report
「On the other hand, the outlook for the global economy remains uncertain, including the heightened risk of an economic slowdown due to trade friction,」
In addition to the previous uncertainty surrounding the global economy, it explicitly identifies the heightened risk of an economic slowdown due to trade friction. - FY2018-Q3RestatedAnnual report
「In the global economy, economic conditions in the two major economic powers, the US and China, have remained firm, while factors of concern regarding the outlook, such as US monetary tightening and geopolitical risks related to North Korea, have been limited.」
While citing US monetary tightening and geopolitical risks related to North Korea as factors of concern, it continues to state that factors of concern regarding the outlook are limited. - FY2018-Q2SoftenedAnnual report
「In the global economy, economic conditions in the two major economic powers, the US and China, have remained firm, while factors of concern regarding the outlook, such as US monetary tightening and geopolitical risks related to North Korea, have been limited.」
While citing US monetary tightening and geopolitical risks related to North Korea as factors, it describes factors of concern regarding the economic outlook as limited. - FY2018-Q1ReframedAnnual report
「On the other hand, the outlook remains uncertain due to US policy, the slowdown in emerging-market economies, heightened geopolitical risks and other factors,」
The factors cited have changed from the UK's decision to leave the EU and the outcome of the US presidential election, which were cited in the previous fiscal year, to US policy management. The slowdown in emerging-market economies and geopolitical risks continue. - FY2017ReframedAnnual report
「On the other hand, the outlook remains uncertain due to the UK's decision to leave the EU, the outcome of the US presidential election, the slowdown in emerging-market economies, heightened geopolitical risks and other factors, including significant fluctuations in foreign exchange rates and share prices,」
Heightened geopolitical risks have been added to the previous factors, and fluctuations in foreign exchange rates and share prices continue to be cited as sources of uncertainty in the explanation of full-year results. - FY2017-Q3ReframedAnnual report
「On the other hand, the outlook remains uncertain due to the UK's decision to leave the EU, the outcome of the US presidential election, the slowdown in emerging-market economies and other factors, including significant fluctuations in foreign exchange rates and share prices,」
The outcome of the US presidential election has been added as a risk factor, and the wording has changed from yen appreciation and falling share prices to significant fluctuations in foreign exchange rates and share prices. - FY2017-Q2RestatedAnnual report
「On the other hand, the outlook remains uncertain due to the UK's decision to leave the EU, the slowdown in emerging-market economies and other factors, including significant yen appreciation and falling share prices,」
The company continues to cite uncertainty about the outlook due to the UK's withdrawal from the EU, the slowdown in emerging-market economies, yen appreciation and falling share prices, stating that there has been no material change in the risks. - FY2017-Q1First statedAnnual report
「On the other hand, the outlook remains uncertain due to the UK's decision to leave the EU, the slowdown in emerging-market economies and other factors, including rapid yen appreciation and falling share prices,」
The company cites the UK's decision to leave the EU, the slowdown in emerging-market economies, rapid yen appreciation and falling share prices as actual changes in the operating environment, indicating uncertainty about the outlook.