Decline in Vehicle Production Volumes and Revenue Due to Global Recession
First written in FY2016. 23 of 40 entries say "Worsened", first in FY2017-Q3. Latest entry: 2026-10-27.
Fuji Oozx 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 2019: 38 of 70 companies on the "Worse" side.
15 other companies' latest entry also says "Worsened".
- FY2026RestatedAnnual report
「The business environment surrounding the Group is expected to remain uncertain due to surging energy and raw material prices, turmoil in overseas conditions associated with geopolitical risks, exchange-rate fluctuations, and the effects of U.S. tariff policies.」
Continued uncertainty in the global economy and automobile production environment, including energy and raw material prices, geopolitical risks, exchange rates, and U.S. tariff policies, is noted. - FY2026-H1WorsenedAnnual report
「However, the outlook remains uncertain due to the effects of U.S. tariff policies and persistently high energy prices and raw material costs resulting from the prolonged situations in Ukraine and the Middle East.」
U.S. tariff policies are explicitly identified, and, together with the prolonged situations in Ukraine and the Middle East and persistently high energy prices and raw material costs, continue to be cited as sources of uncertainty surrounding the global economy and automobile production. - FY2025WorsenedAnnual report
「Although production adjustments resulting from the semiconductor shortage and the certification misconduct issue have been resolved, concerns remain that the outlook will continue to be uncertain due to surging energy and raw material prices, unstable conditions overseas and in foreign exchange markets, and the effects of U.S. automotive tariffs.」
While the resolution of production adjustments resulting from the semiconductor shortage and certification misconduct issue is noted, the imposition of U.S. automotive tariffs is explicitly identified as a new source of uncertainty. - FY2025-H1WorsenedAnnual report
「However, the outlook remains uncertain due to the further deterioration of geopolitical risks, particularly those involving the Middle East, surging energy and raw material prices, and unstable exchange rates.」
The further deterioration of geopolitical risks, particularly those involving the Middle East, surging energy and raw material prices, and unstable exchange rates are cited, and the continued uncertainty of the outlook is noted. - FY2024WorsenedAnnual report
「Although production adjustments resulting from the prolonged semiconductor shortage are moving toward recovery, concerns remain over persistently high raw material prices and energy costs associated with geopolitical risks such as the prolonged situation in Ukraine and the increasingly tense situation in the Middle East, as well as economic recession caused by monetary tightening policies in various countries.」
While the recovery in production adjustments resulting from the semiconductor shortage is noted, the prolonged situation in Ukraine, the increasingly tense situation in the Middle East, persistently high raw material and energy costs, and concerns over recession due to monetary tightening are cited. - FY2024-Q3RestatedAnnual report
「However, the yen has continued to depreciate against the backdrop of the Japan-U.S. interest-rate differential and trade deficits, while concerns also remain over an economic slowdown in China following the collapse of its real estate bubble and the risk of recession in Europe and the United States due to the effects of monetary tightening policies. The outlook therefore remains uncertain.」
The depreciation of the yen, an economic slowdown in China following the collapse of its real estate bubble, and the risk of recession in Europe and the United States due to monetary tightening policies are cited, and the outlook is described as remaining uncertain. - FY2024-Q2WorsenedAnnual report
「However, the yen has continued to depreciate against the backdrop of the Japan-U.S. interest-rate differential and trade deficits, while concerns also remain over an economic slowdown in China following the collapse of its real estate bubble and the risk of recession in Europe and the United States due to the effects of monetary tightening policies. The outlook therefore remains uncertain.」
In addition to the previously identified risks to the global economy, the continued depreciation of the yen, an economic slowdown in China following the collapse of its real estate bubble, and the risk of recession in Europe and the United States due to monetary tightening policies are explicitly identified. - FY2024-Q1RestatedAnnual report
「The outlook remains uncertain due to the continued depreciation of the yen against the backdrop of the Japan-U.S. interest-rate differential and trade deficits, persistently high raw material and energy costs affected by the prolonged situation in Ukraine and other factors, and sharp price inflation in Japan.」
The depreciation of the yen, the prolonged situation in Ukraine, persistently high raw material and energy costs, and inflation continue to be cited as sources of uncertainty for the global economy and automobile production. - FY2023WorsenedAnnual report
「The outlook has remained uncertain, as historical inflation and rapid interest-rate hikes in Europe and the United States aimed at curbing it have caused sharp exchange-rate movements.」
In addition to the previously identified pandemic, semiconductor shortage, and situation in Ukraine, historical inflation, rapid interest-rate hikes in Europe and the United States, and sharp exchange-rate movements are identified as factors contributing to uncertainty in the global economy. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter under review, activity restrictions were eased while the effects of COVID-19 persisted, and the economy showed signs of a moderate recovery. However, in addition to continued increases in raw material and energy prices resulting from the prolonged situation in Ukraine, concerns arising from sharp exchange-rate movements from yen depreciation to yen appreciation have also spread, and the outlook remains uncertain.」
In addition to the effects of the pandemic and rising raw material and energy prices associated with the situation in Ukraine, sharp exchange-rate movements from yen depreciation to yen appreciation are cited as a new concern, and the outlook is described as remaining uncertain. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the outlook for economies in Japan and overseas remained uncertain due to continued increases in raw material and energy prices resulting from the prolonged situation in Ukraine and other factors, concerns over an economic recession caused by monetary tightening policies adopted by countries to curb inflation, and rapidly weakening yen exchange rates.」
The prolonged situation in Ukraine, rising raw material and energy prices, recession concerns stemming from monetary tightening policies in various countries, and the yen's rapid depreciation are cited as factors contributing to uncertainty in the global economy. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter under review, economies in Japan and overseas continued to recover gradually and remained on a moderate recovery trend as the spread and subsidence of COVID-19, including new variants, repeatedly occurred. However, raw material and energy prices continued to rise or remain high due to the prolonged situation in Ukraine and other factors, while disruptions in logistics and other developments continued to create an uncertain outlook.」
The economy is on a moderate recovery trend, but the outlook remains uncertain due to the prolonged situation in Ukraine, persistently high raw material and energy prices, and logistics disruptions. - FY2022WorsenedAnnual report
「The deterioration in international conditions accompanying Russia's invasion of Ukraine has had a major impact on the global economy by driving up raw material prices and energy costs and disrupting logistics, and factors causing concern about the economy are increasing.」
In addition to the existing global economic risks from infectious diseases and semiconductor shortages, the disclosure specifically cites Russia's invasion of Ukraine, surging raw material and energy prices and logistics disruptions, and notes that factors causing concern are increasing. - FY2022-Q3RestatedAnnual report
「However, the effects of semiconductor shortages continued worldwide, and concern remained that economic stagnation caused by the spread of the infectious disease, including the emergence of new variant strains, would continue for some time.」
While stating that recovery trends continued in the United States and China, the disclosure continues to cite concerns over global economic stagnation caused by semiconductor shortages and new variant strains. - FY2022-Q2Regional recoveries continued, but concerns over global stagnation due to semiconductor shortages and variant strains remainedAnnual report
「However, the effects of semiconductor shortages continued worldwide. Although vaccinations were proving effective in regions that had led the rollout, concern remained that economic stagnation caused by the spread of the infectious disease, including the emergence of new variant strains, would continue for some time.」
While describing recovery trends in the United States and China, the disclosure indicates concern that economic stagnation caused by semiconductor shortages and new variant strains will continue for some time. - FY2022-Q1Some regions were on a recovery trend, but difficult conditions continued worldwideAnnual report
「In the United States, although new cases of the novel coronavirus continued to emerge, economic activity was moving toward normalization as the effects of vaccinations took hold, and the economy entered a moderate recovery trend. In China, economic activity also resumed early as the infectious disease was brought under control, and the economy remained on a recovery trend. Worldwide, however, although vaccinations were proving effective in regions that had led the rollout, the economic downturn caused by the impact of successive waves of infections from variant strains remained severe, and concern continued that difficult conditions would persist.」
While describing recovery trends in the United States and China, the disclosure states that the global economic downturn and difficult conditions continued because of the impact of infections caused by variant strains. - FY2021WorsenedAnnual report
「However, the economic downturn caused by the spread of the infectious disease remained severe worldwide, and extremely difficult conditions were expected to continue because of lockdowns and declarations of a state of emergency resulting from renewed outbreaks, including the global spread of variant viruses.」
In addition to the substantial global economic downturn, the disclosure cites the global spread of variant viruses, lockdowns and declarations of a state of emergency, indicating that difficult conditions may persist for an extended period. - FY2021-Q3WorsenedAnnual report
「However, the economic downturn caused by the spread of the infectious disease remained severe worldwide. Particularly in Europe, extremely difficult conditions were expected to continue, including lockdowns and declarations of a state of emergency prompted by the renewed spread of variant viruses.」
While describing a moderate recovery following the reopening of economic activity, the disclosure newly cites the renewed spread of variant viruses in Europe, lockdowns and declarations of a state of emergency, and states that difficult global economic conditions will continue. - FY2021-Q2The economy was on a recovery trend, but concerns over a resurgence continuedAnnual report
「However, the economic downturn caused by the spread of the infectious disease remained severe worldwide, and difficult and uncertain conditions were expected to continue because of concerns over a resurgence.」
The disclosure describes the reopening of economic activity and signs of recovery in China, while continuing to cite the global economic downturn and concerns over a resurgence of the infectious disease. - FY2021-Q1MaterialisedAnnual report
「However, the economic downturn caused by the spread of the infectious disease was extremely severe worldwide, and concern remained that difficult conditions would continue.」
The substantial downturn in the global economy caused by the novel coronavirus disease materialized, appearing as declines in domestic and overseas automotive demand and in our sales. - FY2020WorsenedAnnual report
「However, as the effects of the novel coronavirus pandemic expanded from the end of last year, economies around the world, including Japan, slowed and are feared to undergo a sharp downturn. Production activity has also been suspended in regions around the world because of the pandemic, making it difficult to forecast when the situation will end.」
In addition to concerns over a slowdown in the global economy, the disclosure specifically notes the suspension of production activity in various regions due to the novel coronavirus, indicating increased risks to global economic conditions and automotive production. - FY2020-Q2WorsenedAnnual report
「Meanwhile, total demand in North America remained below the year-earlier period. Conditions remained challenging, with declines in both passenger vehicles and trucks, and sales by Japanese automakers were also below the year-earlier period. Total demand in China was substantially below the year-earlier period, although sales showed a slight upward trend in regional areas, led mainly by Japanese automakers, due to government economic stimulus measures.」
Total demand in North America was below the year-earlier period for both passenger vehicles and trucks, while total demand in China was also substantially below the year-earlier period. Factors worsening global economic risks through overseas automotive demand continued. - FY2020-Q1WorsenedAnnual report
「Meanwhile, in the global economy, U.S. corporate earnings remained firm, supported by increases in exports and production, as personal consumption and employment continued to be strong, although concerns over trade friction with China continued to create uncertainty. In China, uncertainty over the future increased as the economy's recovery was delayed by slower exports resulting from the trade friction with the United States, although fiscal measures and other government support prevented a pronounced economic downturn.」
The disclosure describes slower Chinese exports, a delayed economic recovery and increasing uncertainty over the future against a backdrop of U.S.-China trade friction. Total demand in North America and China also declined substantially from the year-earlier period. - FY2019WorsenedAnnual report
「Because overseas sales account for a significant proportion of the automotive industry's business today, if automotive production and sales are materially affected by a global recession or other factors resulting from U.S.-China trade friction, our group's revenue may also decline substantially in proportion.」
The disclosure specifically identifies U.S.-China trade friction as a factor contributing to a global recession. It states that China is experiencing slower exports and imports, weaker personal consumption and increasing signs of slower growth in domestic and overseas demand. - FY2019-Q3WorsenedAnnual report
「Meanwhile, in the global economy, U.S. business conditions remained firm, supported by continued strength in personal consumption and employment despite concerns over trade friction with China. China's economy, however, was slowing because of weaker exports due to the trade friction with the United States and the impact of the end of tax incentives for small cars on domestic sales. Although personal consumption remained strong on favorable employment and income conditions supported by income tax cuts and other measures, uncertainty surrounding domestic and overseas demand increased.」
The disclosure describes slower Chinese exports and economic growth due to U.S.-China trade friction and increasing uncertainty surrounding domestic and overseas demand. It also indicates a double-digit decline in North American passenger vehicles and inventory adjustments in China, heightening uncertainty over risks transmitted through the global economy and automotive production. - FY2019-Q2WorsenedAnnual report
「Overall, uncertainty over the outlook continued to increase because of heightened uncertainty surrounding global economic growth due to the risk of expanding U.S.-China trade friction, despite robust domestic demand in various countries.」
The disclosure specifically describes U.S.-China trade friction as a risk of expansion and notes increasing uncertainty surrounding global economic growth and continued uncertainty over the outlook. - FY2019-Q1WorsenedAnnual report
「Meanwhile, uncertainty over the outlook continued to increase because of the heightened uncertainty surrounding global economic growth due to U.S.-China trade friction and geopolitical risks in the Middle East and elsewhere.」
The disclosure specifically adds U.S.-China trade friction to the existing global economic and geopolitical risks and describes increasing uncertainty and continued uncertainty over the outlook. - FY2018RaisedAnnual report
「China remained resilient, supported by solid growth in personal consumption, a recovery in capital investment and increased exports, while emerging Asian economies continued to grow moderately. Meanwhile, uncertainty over the outlook continued because of uncertainty in overseas economies arising from policy developments in Europe, the United States and China, as well as geopolitical risks involving North Korea and elsewhere.」
In addition to the previously cited concerns over an economic slowdown, the disclosure specifically identifies policy developments in Europe, the United States and China as factors contributing to uncertainty in the global economy. - FY2018-Q3RestatedAnnual report
「Economies in emerging Asian countries continued to grow moderately, but uncertainty increased because of geopolitical risks in the Middle East, North Korea and elsewhere.」
While citing growth in emerging Asian economies, the disclosure continues to describe uncertainty over the outlook due to geopolitical risks in the Middle East, North Korea and elsewhere. - FY2018-Q2WorsenedAnnual report
「Economies in emerging Asian countries also continued to grow moderately, but the outlook became increasingly uncertain as geopolitical risks in the Middle East, North Korea and elsewhere intensified.」
The disclosure newly cites heightened geopolitical risks in the Middle East, North Korea and elsewhere and states that uncertainty over the outlook for the global economy has increased. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the U.S. economy remained generally resilient as personal consumption recovered against a backdrop of improving employment, despite a slowdown in fixed asset investment. Europe recovered moderately following election results that halted the advance of EU-skeptic parties, while growth in China slowed because of relatively tight monetary policy and Asian economies remained stalled, leaving international conditions uncertain.」
While citing improving conditions in the United States and Europe, the disclosure continues to describe uncertainty over the outlook, including China's slower growth and the stagnation of Asian economies. - FY2017RestatedAnnual report
「Europe recovered moderately as the impact of the U.K.'s decision to leave the EU remained limited, but the outlook became uncertain as concerns mounted over worsening international conditions, including in Syria and North Korea, as well as developments under the new U.S. president.」
The disclosure continues to cite international conditions, the U.K.'s departure from the EU and developments under the new U.S. administration as factors contributing to uncertainty over the outlook for the global economy. - FY2017-Q3WorsenedAnnual report
「Meanwhile, concerns were mounting over China's economic slowdown, slower growth in emerging markets, the U.K.'s EU departure issue and developments under the new U.S. president, making the outlook even more uncertain.」
In addition to the slowdown in China and emerging markets and the U.K.'s EU departure issue, the disclosure cites developments under the new U.S. administration as a concern and states that uncertainty over the outlook for the global economy has increased further. - FY2017-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the global economy remained uncertain. The U.S. labor market remained resilient and a moderate, domestically driven recovery continued, but personal consumption slowed in August, while concerns remained over China's economic slowdown, slower growth in emerging markets and the effects of the U.K.'s departure from the EU.」
The disclosure continues to describe uncertainty in the global economy, including China's economic slowdown, slower growth in emerging markets and concerns over the U.K.'s departure from the EU. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the global economy remained uncertain, despite continued improvement in the U.S. economy, due to slowing economic growth in China and emerging markets and the victory of the Leave campaign in the U.K. referendum on EU membership.」
The disclosure describes uncertainty over the outlook for the global economy, including slowing growth in China and emerging markets and the U.K.'s departure from the EU. - FY2016First statedAnnual report
「Because overseas sales account for a significant proportion of the automotive industry's business today, if the automotive industry is affected by a global recession or other factors, production volumes may decline, potentially causing a substantial proportional decrease in our group's revenue.」
Given its dependence on overseas sales, the group identifies fluctuations in global economic conditions and automotive production volumes as risks.