Uncertainty Over the Economic Outlook Due to the Situation in Ukraine, Supply Shortages, Interest Rate Adjustments and Yen Depreciation
First written in FY2023-Q1. 5 of 11 entries say "Restated". Latest entry: 2026-08-12.
Interworks Confidence moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2025: 22 of 48 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2026ReframedAnnual report
「In addition to the ongoing labor shortage and downward pressure on demand from high prices, developments in the Middle East and oil-price trends have become risk factors, creating uncertainty amid concerns that conditions may deteriorate.」
The external-environment risk discussion has shifted from a focus on yen depreciation, supply constraints and the conflict in Europe to include labor shortages, high prices, the situation in the Middle East and oil prices. - FY2026-H1ReframedAnnual report
「While uncertainty over U.S. tariff policy is declining following the Japan-U.S. agreement, moves to incorporate its impact into business conditions are becoming increasingly apparent. Progress in passing higher costs through to prices, which is contributing to higher earnings, is also raising concerns about higher labor and logistics costs and downward pressure on consumption.」
The description of the external environment has been reorganized from a focus on geopolitical risks, yen depreciation and supply constraints to include reduced uncertainty over tariff policy and concerns about higher labor and logistics costs and downward pressure on consumption. - FY2025-H1RestatedAnnual report
「Although uncertainty about the outlook due to numerous concerns remains, the policy of continuing to raise interest rates is being maintained amid price stability and exchange-rate adjustments, and interest is increasingly focused on economic policy developments as a gradual economic recovery is expected to continue.」
The company continues to disclose uncertainty surrounding the economic outlook, including high raw-material costs, yen depreciation, labor shortages, higher labor costs and exchange rates, while also expecting the gradual economic recovery to continue. - FY2024ReframedAnnual report
「Although uncertainty about the outlook persists due to concerns over overseas economies and market conditions, weakening demand resulting from higher prices and exchange-rate fluctuations, labor shortages and other factors, a gradual recovery is expected overall, supported by expectations for a recovery in automobile production, a bottoming out in semiconductor demand and contributions from inbound demand.」
The description of the external environment has shifted from a focus on the Russia-Ukraine situation and yen depreciation to a broader review of the economic environment, including prices, exchange rates, weaker demand, labor shortages and recovery factors in manufacturing and inbound demand. - FY2024-Q1RestatedAnnual report
「Price inflation caused by higher raw-material costs has spread across a wide range of products, and the trend has persisted. The economic outlook therefore remains uncertain.」
The company continues to identify uncertainty surrounding the economic outlook due to the prolonged rise in raw-material costs and price inflation as an external-environment risk. - FY2023RestatedAnnual report
「Global economic issues, including higher fuel and grain prices stemming from the conflict in Europe, as well as geopolitical risks in East Asia, mean that social and economic conditions remain uncertain.」
The company continues to disclose uncertainty surrounding the economic outlook due to the conflict in Europe, rising prices, yen depreciation and geopolitical risks in East Asia, among other factors. - FY2023-Q3RestatedAnnual report
「During the first 9 months of the consolidated fiscal year, the Japanese economy gradually resumed economic activity as restrictions on movement to prevent the spread of COVID-19 were eased, and consumer spending was on a recovery trend. However, the prolonged Russia-Ukraine situation has delayed the resolution of supply constraints across a wide range of areas, including prices, energy, materials and labor. Combined with excessive yen depreciation against the backdrop of global monetary tightening, the outlook for the economic environment in Japan and overseas remains uncertain.」
While economic activity is resuming as movement restrictions are eased, the company continues to disclose uncertainty surrounding the economic outlook due to the Russia-Ukraine situation, rising prices, supply constraints, monetary tightening and yen depreciation. - FY2023-Q2RestatedAnnual report
「In addition to global economic issues, including higher fuel and grain prices stemming from the conflict in Europe, the economic outlook in Japan and overseas remains uncertain amid yen depreciation against the backdrop of global interest-rate adjustments and the impact of higher prices on households and companies.」
The company continues to disclose uncertainty surrounding the economic outlook due to the conflict in Europe, higher fuel and grain prices, interest-rate adjustments, yen depreciation and rising prices. - FY2023-Q1First statedAnnual report
「At the same time, the economic outlook in Japan and overseas remains uncertain due to the prolonged situation in Ukraine, raw-material supply shortages and yen depreciation against the backdrop of global interest-rate adjustments.」
The company newly describes uncertainty surrounding the economic outlook, driven by the prolonged situation in Ukraine, raw-material supply shortages, interest-rate adjustments and yen depreciation, as part of the business environment for the quarter.