Uncertainty over the outlook for the domestic economy, personal consumption and exports
First written in FY2016-Q3. 25 of 40 entries say "Reframed", first in FY2016. Latest entry: 2026-06-29.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
- 2026-06-29ReframedEarnings
「During the nine-month consolidated period, Japan's economy showed signs of a gradual recovery supported by improvements in employment and income conditions and various government policies. However, the impact of continued increases in consumer prices caused by inflation and the yen's depreciation remained significant. In addition, concerns about the impact of escalating tensions in the Middle East on energy prices and logistics meant that the outlook remained uncertain.」
While describing a gradual economic recovery, the company cites, in addition to inflation and the yen's depreciation, the impact of escalating Middle East tensions on energy prices and logistics as a source of uncertainty. - FY2026-H1ReframedAnnual report
「During the interim consolidated fiscal period, the economy showed signs of a moderate recovery due to improvements in employment and income conditions and various policies. However, the impact of continued inflation and rising consumer prices due to yen depreciation was significant, and the outlook remained uncertain, including due to downside risks from the impact of US trade policy and developments in the Middle East.」
While indicating an economic recovery trend, it identifies downside risks from US trade policy and developments in the Middle East, in addition to the previously cited inflation and yen depreciation, as factors clouding the outlook. - FY2025ReframedAnnual report
「During the current consolidated fiscal year, the economy showed signs of a moderate recovery due to improvements in employment and income conditions and various policies. However, the impact of continued inflation and rising consumer prices due to yen depreciation was significant, and the outlook remained uncertain, including due to downside risks from the impact of US trade policy.」
While indicating an economic recovery, it identifies downside risks from US trade policy, in addition to the previously cited inflation and yen depreciation, as a factor clouding the outlook. - FY2025-H1ReframedAnnual report
「During the interim consolidated fiscal period, the economy showed signs of a moderate recovery due to improvements in employment and income conditions and various policies. However, the impact of continued inflation and rising consumer prices due to yen depreciation was significant, and the outlook remained uncertain due to developments under the new US administration and concerns over the future of the Chinese economy.」
While describing a moderate recovery, it identifies inflation, rising consumer prices due to yen depreciation, the new US administration and the Chinese economy, in addition to the previously cited geopolitical and price-related factors, as factors clouding the outlook. - FY2024RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy followed a moderate recovery trend due to improvements in employment and income conditions and increased inbound demand. However, uncertainty over the outlook persisted due to worsening geopolitical risks involving the situations in Ukraine and Israel and Palestine, surging raw material and energy prices, and higher prices caused by the depreciation of the yen.」
While indicating a recovery trend supported by employment and income conditions and inbound demand, it continues to identify geopolitical risks, raw material and energy prices, and higher prices caused by yen depreciation as factors clouding the outlook. - FY2024-Q3ReframedAnnual report
「During the first three quarters of the current consolidated fiscal year, activity restrictions were lifted following the reclassification of COVID-19 as a Class 5 infectious disease, and socioeconomic activity continued to normalize. The economy was on a recovery trend due to improvements in employment and income conditions and increased inbound demand. However, the outlook remained uncertain due to worsening geopolitical risks involving the situations in Ukraine and Israel and Palestine, surging raw material and energy prices, foreign exchange volatility, and rising domestic prices.」
While indicating a recovery trend supported by the normalization of socioeconomic activity, improvements in employment and income conditions, and inbound demand, it continues to describe uncertainty over the outlook caused by geopolitical risks, resource prices, foreign exchange and domestic prices. - FY2024-Q2RestatedAnnual report
「During the first two quarters of the current consolidated fiscal year, activity restrictions were lifted following the reclassification of COVID-19 as a Class 5 infectious disease, and progress was made toward normalizing socioeconomic activity. However, the outlook remained uncertain due to worsening geopolitical risks involving the situations in Ukraine and Israel and Palestine, surging raw material and energy prices, foreign exchange volatility, and rising domestic prices.」
As in FY2024-Q1, it describes progress toward normalizing socioeconomic activity, while noting uncertainty over the outlook caused by geopolitical risks, resource prices, foreign exchange and domestic prices. - FY2024-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, activity restrictions were lifted following the reclassification of COVID-19 as a Class 5 infectious disease, and progress was made toward normalizing socioeconomic activity. However, the outlook remained uncertain due to worsening geopolitical risks involving the situations in Ukraine and Israel and Palestine, surging raw material and energy prices, foreign exchange volatility, and rising domestic prices.」
While normalization progressed as infectious disease countermeasures were eased, geopolitical risks expanded to include the situations in Israel and Palestine, and surging raw material and energy prices, foreign exchange volatility and rising domestic prices were listed as new factors clouding the outlook. - FY2023ReframedAnnual report
「During the current consolidated fiscal year, activity restrictions were lifted following the reclassification of COVID-19 as a Class 5 infectious disease, and progress was made toward normalizing socioeconomic activity. However, the outlook remained uncertain due to continuing geopolitical risks, including the prolonged situation in Ukraine, surging raw material and energy prices, and foreign exchange volatility.」
While indicating normalization following the reclassification of COVID-19 as a Class 5 infectious disease and the lifting of activity restrictions, it identifies the situation in Ukraine, raw material and energy prices, and foreign exchange volatility as new factors clouding the outlook. - FY2023-Q3ReframedAnnual report
「During the first three quarters of the current consolidated fiscal year, activity restrictions related to COVID-19 were eased and signs of progress toward normalizing socioeconomic activity were observed. However, the outlook remained uncertain due to continuing geopolitical risks, including the prolonged situation in Ukraine, foreign exchange volatility, and surging raw material and energy prices.」
While activity restrictions continued to ease and socioeconomic activity continued to normalize, it identifies the situation in Ukraine, foreign exchange volatility, and surging raw material and energy prices as factors clouding the outlook. - FY2023-Q2ReframedAnnual report
「During the first two quarters of the current consolidated fiscal year, restrictions on activity related to COVID-19 were eased and signs of progress toward normalizing socioeconomic activity in the transition to living with and after COVID-19 were observed. However, the outlook remained uncertain due to the prolonged situation in Ukraine and sharp foreign exchange fluctuations accompanying global financial instability.」
While indicating the easing of activity restrictions and progress toward normalizing socioeconomic activity, it identifies global financial instability, in addition to the previously cited situation in Ukraine and foreign exchange volatility, as a factor clouding the outlook. - FY2023-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, restrictions on activity were eased as the impact of COVID-19 continued, and signs of progress toward normalizing socioeconomic activity were observed. However, the outlook remained uncertain due to the prolonged situation in Ukraine and sharp foreign exchange fluctuations accompanying global monetary tightening.」
While noting the easing of activity restrictions and progress toward normalizing socioeconomic activity, it continues to describe uncertainty over the outlook caused by the prolonged situation in Ukraine, monetary tightening and sharp foreign exchange fluctuations. - FY2022WorsenedAnnual report
「During the current consolidated fiscal year, the domestic economy remained uncertain due to the resurgence of COVID-19, the prolonged situation in Ukraine, and sharp foreign exchange fluctuations accompanying global monetary tightening.」
The resurgence of COVID-19, the prolonged situation in Ukraine, global monetary tightening and sharp foreign exchange fluctuations are listed as factors clouding the economic outlook, and uncertainty in the external environment persists. - FY2022-Q3WorsenedAnnual report
「During the first three quarters of the current consolidated fiscal year, the decline in COVID-19 cases led to signs of economic recovery. However, caution remained necessary regarding downside risks arising from heightened geopolitical risks, including the situation in Ukraine, higher raw material prices, volatility in financial and capital markets, and supply constraints, leaving uncertainty high and the situation unpredictable.」
While mentioning the decline in infections and signs of economic recovery, it lists downside risks from the situation in Ukraine, raw material prices, financial and capital markets, and supply constraints, and states that uncertainty remains high. - FY2022-Q2WorsenedAnnual report
「From December onward, infections with highly transmissible variants such as Omicron increased sharply worldwide, making the domestic outlook uncertain again. In addition, uncertainty increased due to rising resource prices, foreign exchange volatility, and heightened geopolitical risks, including the situation in Ukraine.」
It states that, in addition to the spread of Omicron and other variants, risks involving resource prices, foreign exchange and the situation in Ukraine increased uncertainty in the domestic economy. - FY2022-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, expectations for economic recovery rose following the lifting of the state of emergency imposed as a COVID-19 countermeasure. However, uncertainty about the future remained due to concerns over the emergence of new variants overseas.」
While indicating expectations for economic recovery following the lifting of the state of emergency, it states that the focus of economic risks has shifted to uncertainty about the future due to concerns over the emergence of new variants overseas. - FY2021WorsenedAnnual report
「During the current consolidated fiscal year, the impact of COVID-19 continued. Restrictions were placed on economic activity, including the intermittent issuance of states of emergency and priority preventive measures in various regions amid the spread of more transmissible variants, and uncertainty over the outlook continued.」
It describes COVID-19, more transmissible variants, and restrictions on economic activity under states of emergency and priority preventive measures, stating that uncertainty over the domestic economic outlook persists. - FY2021-Q3ReframedAnnual report
「During the first three quarters of the current consolidated fiscal year, the spread of COVID-19 remained unabated. From January 2021 onward, restrictions were placed on economic activity, including the intermittent issuance of states of emergency and priority preventive measures in major prefectures and cities, and uncertainty over the outlook continued.」
It specifies the spread of COVID-19 and restrictions on economic activity under states of emergency and priority preventive measures as factors clouding the domestic economic outlook. It also mentions expectations that the spread will subside as vaccination rates increase. - FY2021-Q2WorsenedAnnual report
「During the first two quarters of the current consolidated fiscal year, economic activity was restricted by the global spread of COVID-19, making the impact on the performance of some companies apparent. Although the effects of various government economic measures, including the Go To campaign, were observed, the outlook remained uncertain, with a state of emergency reissued in some regions in January 2021.」
In addition to restrictions on economic activity caused by COVID-19, it notes the reissuance of a state of emergency in January 2021 and states that uncertainty over the domestic economic outlook persists. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the global spread of COVID-19 made its impact on the performance of some companies apparent. Although signs of the effectiveness of various government policies, including the Go To campaign, were observed, uncertainty over the outlook persisted.」
It continues to describe the impact of COVID-19 on corporate performance and uncertainty over the economic outlook. It also mentions signs of the effectiveness of government policies, but states that uncertainty nevertheless persists. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, the global spread of COVID-19 caused impacts on the performance of some companies to become apparent, increasing uncertainty over the economic outlook.」
It states that the global spread of COVID-19 made its impact on corporate performance apparent and further increased uncertainty over the economic outlook. - FY2020-Q3WorsenedAnnual report
「During the first three quarters of the current consolidated fiscal year, the domestic economy had been following a moderate recovery trend due to the government's economic policies. However, in addition to the impact of the consumption tax increase, the global spread of COVID-19 caused impacts on the performance of some companies to become apparent, increasing uncertainty over the outlook for the domestic economy.」
It states that, in addition to the uncertainty caused by the previous consumption tax increase and related factors, the global spread of COVID-19 and its impact on corporate performance have become apparent, increasing uncertainty over the domestic economic outlook. - FY2020-Q2ReframedAnnual report
「During the first two quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment and income conditions improving. However, the economic outlook remained uncertain due to concerns over trade friction between the US and China, the slowdown in the Chinese economy, and the spread of COVID-19.」
Concerns over the spread of COVID-19 have been added to the factors clouding the economic outlook. - FY2020-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment and income conditions improving. However, the economic outlook remained uncertain amid concerns over trade friction between the US and China and the slowdown in the Chinese economy.」
While indicating a recovery trend, it identifies trade friction between the US and China and the slowdown in the Chinese economy as factors clouding the outlook. - FY2019ReframedAnnual report
「The domestic economy is expected to continue recovering moderately due to improvements in corporate performance and employment and income conditions. However, the economic outlook remains uncertain due to trade friction involving the US and other countries and the slowdown in the Chinese economy.」
It identifies trade friction among countries and the slowdown in the Chinese economy as factors clouding the economic outlook. - FY2019-Q3RestatedAnnual report
「During the first three quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving due to the Bank of Japan's monetary policy and the government's economic policies. However, the economic outlook remained uncertain due to developments in US-China trade friction and the slowdown in the Chinese economy.」
As in the previous quarter, it describes a moderate recovery in the domestic economy and uncertainty over the outlook caused by US-China trade friction and the slowdown in the Chinese economy. - FY2019-Q2ReframedAnnual report
「During the first two quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving due to the Bank of Japan's monetary policy and the government's economic policies. However, the economic outlook remained uncertain due to developments in US-China trade friction and the slowdown in the Chinese economy.」
The factors clouding the economic outlook have been specified as developments in US-China trade friction and the slowdown in the Chinese economy, replacing the previous concerns over US protectionism and trade friction. - FY2019-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving against the backdrop of the government's economic policies. However, the outlook remained uncertain due to concerns over trade friction resulting from US protectionism.」
While indicating a recovery trend in the domestic economy, it specifies concerns over trade friction resulting from US protectionism as the factor clouding the outlook. - FY2018ReframedAnnual report
「During the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving against the backdrop of the government's economic policies and the Bank of Japan's monetary policy. However, the outlook remained uncertain due to US economic and foreign policies and the slowdown in China and emerging economies.」
While indicating a recovery trend, it identifies US economic and foreign policies and the slowdown in China and emerging economies as factors clouding the outlook. - FY2018-Q3RestatedAnnual report
「During the first three quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving against the backdrop of the government's economic policies and the Bank of Japan's monetary policy. However, the outlook remained uncertain due to the economic policies of the US administration and the unstable international situation.」
As in the previous quarter, it describes the domestic economy's recovery trend and the uncertainty over the outlook caused by the economic policies of the US administration and the unstable international situation. - FY2018-Q2RestatedAnnual report
「During the first two quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving against the backdrop of the government's economic policies and the Bank of Japan's monetary policy. However, the outlook remained uncertain due to the economic policies of the US administration and the unstable international situation.」
As in the previous quarter, it describes the domestic economy's recovery trend and the uncertainty over the outlook caused by the economic policies of the US administration and the unstable international situation. - FY2018-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate earnings improving against the backdrop of the government's economic policies and the Bank of Japan's continued monetary easing. However, the outlook remained uncertain, requiring close attention to the economic policies of the US administration and the unstable international situation.」
While describing the domestic economy as being on a recovery trend, it specifies the factors clouding the outlook as the economic policies of the US administration and the unstable international situation. - FY2017ReframedAnnual report
「During the current consolidated fiscal year, Japan's economy followed a moderate recovery trend, with corporate earnings and employment improving due to the government's economic measures and the Bank of Japan's continued monetary easing. However, concerns about the impact of US economic policy and rising geopolitical risks on the Japanese economy persisted.」
While describing the domestic economy as being on a recovery trend, it identifies US economic policy and rising geopolitical risks as factors clouding the outlook. - FY2017-Q3ReframedAnnual report
「During the first three quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately as a result of the government's economic policies and the Bank of Japan's monetary policy. However, the outlook remained uncertain due to the spread of protectionist trends worldwide and the impact of geopolitical risks in East Asia.」
The factors clouding the economic outlook have again been specified as worldwide protectionist trends and geopolitical risks in East Asia, replacing the previous concerns over foreign exchange and stock markets and conditions in China, Europe and the US. - FY2017-Q2ReframedAnnual report
「During the first two quarters of the current consolidated fiscal year, the domestic economy continued to recover moderately, with corporate performance and employment conditions improving due to the government's economic policies and the Bank of Japan's continued monetary policy. However, domestic economic conditions remained uncertain due to instability in foreign exchange and stock markets caused by the slowdown in China and emerging economies and political concerns in the US and EU.」
The factors clouding the economic outlook have been specified as the slowdown in China and emerging economies, political concerns in the US and EU, and instability in foreign exchange and stock markets, replacing the previous concerns over the UK's withdrawal from the EU and related issues. - FY2017-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, the domestic economy continued to recover against the backdrop of the government's economic policies and the Bank of Japan's continued monetary easing. However, domestic economic conditions remained uncertain due to instability in foreign exchange and stock markets caused by concerns over the UK's withdrawal from the EU and policies following the US presidential election.」
The factors clouding the domestic economic outlook have again been specified as the UK's withdrawal from the EU, concerns over policies following the US presidential election, and instability in foreign exchange and stock markets. - FY2016ReframedAnnual report
「Meanwhile, the outlook remained uncertain due to the slowdown in the Chinese economy, Europe, where instability increased following the UK's withdrawal from the EU, and the increasingly confused situation in the Middle East.」
While indicating improvement in the domestic economy, it specifies the factors clouding the economic outlook as personal consumption and exports, the Chinese economy, the UK's withdrawal from the EU, and conditions in Europe and the Middle East. - FY2016-Q3First statedAnnual report
「Although corporate earnings, capital investment and employment conditions in the domestic economy showed improvement, the economic outlook remains uncertain due to sluggish personal consumption and exports.」
While noting factors supporting improvement, it describes sluggish personal consumption and exports and uncertainty over the economic outlook as external factors.