Uncertainty About the Outlook Due to the Slowdown in Emerging Market Economies and the UK's EU Withdrawal Issue, Among Other Factors
First written in FY2017-Q1. 11 of 32 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 63 of 75 companies on the "Worse" side.
10 other companies' latest entry also says "Other".
- FY2026Uncertainty due to the situation in the Middle East and rising prices highlightedAnnual report
「During the consolidated fiscal year under review, Japan's economy showed a gradual recovery due to improvements in employment and income conditions, but the outlook remained uncertain due to geopolitical risks, including the situation in the Middle East, and sluggish personal consumption caused by rising prices.」
In addition to previously cited trade issues, the Chinese economy, and inflation, the disclosure explicitly identifies geopolitical risks, including the situation in the Middle East, and sluggish personal consumption caused by rising prices. - 2026-05-13RestatedRevision to earnings forecast
「中東情勢などの地政学リスクや物価上昇による個人消費の伸び悩みなどから、先行き不透明な状況が続きました。」
地政学リスク、物価上昇、個人消費の伸び悩みによる不透明感を引き続き記載している。 - FY2026-H1The disclosure explicitly cites US trade policy and geopolitical risks, as well as rising prices and sluggish personal consumption.Annual report
「Global economic uncertainty continued due to developments in US trade policy and rising geopolitical risks. In Japan, the outlook remained uncertain as personal consumption stagnated amid continued price increases.」
In addition to previously cited inflation, high interest rates, and stagnation in the Chinese economy, the disclosure cites US trade policy, geopolitical risks, and sluggish personal consumption caused by rising prices as sources of uncertainty about the outlook. - FY2025-H1The disclosure explicitly cites prolonged inflation, high interest rates, and stagnation in the Chinese economy.Annual report
「The outlook remained uncertain against a backdrop of continued high interest rates resulting from prolonged inflation, particularly in Europe and the United States, stagnation in the Chinese economy, and rising geopolitical risks.」
In addition to previously cited geopolitical risks, the disclosure explicitly identifies prolonged inflation and continued high interest rates in Europe and the United States, as well as stagnation in the Chinese economy, as sources of uncertainty about the outlook. - FY2024-Q3Geopolitical risks were explicitly identified.Annual report
「During the cumulative consolidated period under review, Japan's economy followed a gradual recovery trend, but remained uncertain due to factors including the impact of global monetary tightening, concerns over the outlook for the Chinese economy, and geopolitical risks.」
In addition to global monetary tightening and concerns over the outlook for the Chinese economy, the disclosure explicitly identifies geopolitical risks as a source of uncertainty about the outlook. - FY2024-Q2RestatedAnnual report
「During the cumulative consolidated period under review, the global economy showed signs of recovery overall despite downside risks, including the impact of global monetary tightening and concerns over the outlook for the Chinese economy. In Japan, employment and income conditions improved and the economy followed a gradual recovery trend, but the outlook remained uncertain due to the risk that a downturn in overseas economies could weigh on Japan's economy.」
While noting recovery in the global and domestic economies, the disclosure continues to cite monetary tightening, the outlook for the Chinese economy, and uncertainty caused by a downturn in overseas economies. - FY2024-Q1The economy is gradually recovering, but downside risks in overseas economies continue.Annual report
「During the cumulative consolidated period under review, the global economy followed a gradual recovery trend despite downside risks from rising prices amid continued global monetary tightening. In Japan, employment and income conditions improved and personal consumption showed signs of recovery, but the outlook remained uncertain due to rising prices and downside risks in overseas economies, particularly in Europe, the United States, and China.」
While noting gradual recovery in the global and domestic economies, the disclosure continues to cite monetary tightening, rising prices, and downside risks in overseas economies including Europe, the United States, and China as sources of uncertainty about the outlook. - FY2023The disclosure explicitly cites monetary tightening and downside risks in overseas economies despite a gradual recovery.Annual report
「During the consolidated fiscal year under review, the global economy showed an overall gradual recovery as restrictions on activity associated with COVID-19 were eased and conditions moved toward normalization, despite concerns including a shift toward tighter monetary policy as inflation accelerated. However, with global monetary tightening continuing, the outlook remains uncertain due to risks including a downturn in overseas economies weighing on Japan's economy.」
While noting the easing of pandemic-related activity restrictions and the recovery in the economy, the disclosure cites inflation, monetary tightening, and downside risks in overseas economies as sources of uncertainty about the outlook. - FY2023-Q3The economy is recovering, but inflation, the pandemic in China, and supply constraints continue.Annual report
「During the cumulative consolidated period under review, the global economy showed gradual signs of recovery. However, concerns over downside risks continued due to global inflation and the spread of COVID-19 in China. In Japan, personal consumption and capital investment showed signs of recovery, but the outlook remained uncertain as production activity and corporate earnings were weak and rising prices and supply-side constraints persisted.」
Although the global economy, personal consumption, and capital investment showed signs of recovery, concerns continued due to global inflation, the spread of COVID-19 in China, weakness in domestic production and corporate earnings, and rising prices and supply constraints. - FY2023-Q2WorsenedAnnual report
「During the cumulative consolidated period under review, the global economy showed gradual signs of recovery, but concerns over downside risks continued due to global inflation and supply-side disruptions caused by supply chain constraints. In Japan, the outlook remained uncertain as rapid yen depreciation increased procurement costs and the impact of China's zero-COVID policy and other factors caused personal consumption to stagnate and corporate production activity to slow.」
Global inflation, supply constraints, rapid yen depreciation, China's zero-COVID policy, stagnant personal consumption, and slower corporate production activity are identified as specific sources of concern about the outlook. - FY2023-Q1WorsenedAnnual report
「During the cumulative consolidated period under review, the global economy showed signs of recovery, but concerns arose over downside risks due to inflation and supply-side constraints. In Japan, the outlook remained uncertain as the rapid depreciation of the yen increased procurement costs and rising prices caused personal consumption to stagnate.」
In addition to the previously cited pandemic and trade issues, the disclosure explicitly identifies rising prices, supply constraints, rapid yen depreciation, higher procurement costs, and sluggish personal consumption as new sources of uncertainty. - FY2022WorsenedAnnual report
「The outlook has become more uncertain due to supply chain disruptions caused by China's zero-COVID policy, higher energy and raw material prices against a backdrop including the situation in Ukraine, and the rapid depreciation of the yen.」
In addition to the previously cited pandemic, trade issues, and uncertainty in overseas economies, the disclosure lists China's policies, the situation in Ukraine, energy and raw material prices, and the rapid depreciation of the yen as new sources of uncertainty. - FY2022-Q3The economy was on a recovery trend, but the pandemic and supply disruptions emerged.Annual report
「During the cumulative consolidated period under review, the global economy showed signs of overall recovery, although intermittent outbreaks of COVID-19 caused stagnation in production activity and supply chain disruptions. In Japan, the impact of the pandemic eased toward year-end, and corporate earnings, production activity, and personal consumption followed a gradual recovery trend.」
While the pandemic caused stagnation in production and supply chain disruptions, the global and domestic economies showed signs of recovery and a gradual recovery trend. - FY2022-Q2The global economy is recovering, but restrictions leave the outlook uncertain.Annual report
「During the cumulative consolidated period under review, the global economy gradually recovered from the economic damage caused by the COVID-19 pandemic, but the outlook for production activity and personal consumption became uncertain against a backdrop of restrictions in various countries and regions. In Japan, production activity and corporate earnings showed signs of recovery, but the economy remained in a difficult situation as personal consumption was constrained by the reissuance of a state of emergency.」
Although the global economy showed signs of recovery, uncertainty about the outlook continued due to restrictions in various countries and regions and constraints on personal consumption resulting from the reissuance of a state of emergency in Japan. - FY2022-Q1Production and corporate earnings are recovering, but personal consumption remains weak.Annual report
「During the cumulative consolidated period under review, Japan's economy remained in a difficult situation due to the impact of COVID-19, with signs of recovery in production activity and corporate earnings but weakness in personal consumption.」
While production activity and corporate earnings showed signs of recovery, weak personal consumption and the difficult economic environment caused by the pandemic continued. - FY2021-Q3Continued uncertainty due to the resurgence of the pandemic.Annual report
「During the cumulative consolidated period under review, Japan's economy remained in an extremely difficult situation due to the impact of COVID-19, including sluggish personal consumption and declining corporate earnings. Although domestic economic activity showed signs of recovery as a result of the government's economic measures, the outlook remains uncertain due to the resurgence of COVID-19 and the US-China trade conflict.」
Although some recovery in economic activity was observed, the disclosure continues to cite uncertainty due to sluggish personal consumption and declining corporate earnings, as well as the resurgence of the pandemic and the US-China trade conflict. - FY2021-Q1WorsenedAnnual report
「During the cumulative consolidated period under review, Japan's economy was in an extremely difficult situation due to the spread of COVID-19, including a sharp slowdown in personal consumption and stagnation in corporate activity. The outlook also remains uncertain due to concerns over the spread of COVID-19 and the US-China trade conflict.」
In addition to the previously cited trade issues and uncertainty in overseas economies, the disclosure identifies the sharp slowdown in personal consumption and stagnation in corporate activity caused by the spread of COVID-19 as an extremely difficult economic environment. - FY2020WorsenedAnnual report
「Meanwhile, developments changed significantly this year due to the spread of COVID-19 in Japan and overseas. The global economy is deteriorating rapidly as economic activity stagnates, and downside risks have increased further due to the impact of COVID-19, in addition to ongoing issues such as volatility in financial and capital markets and developments in trade issues, leaving the outlook even more uncertain.」
In addition to the previously cited uncertainty surrounding trade issues, the Chinese economy, and overseas economies, the disclosure explicitly states that COVID-19 has caused economic activity to stagnate and downside risks to increase. - FY2020-Q3RestatedAnnual report
「Meanwhile, the outlook remains uncertain, including due to the impact of developments in trade issues on the global economy and the impact of the consumption tax increase on the domestic economy.」
The disclosure continues to cite uncertainty about the outlook, including the impact of trade issues and the consumption tax increase on the domestic and overseas economies. - FY2020-Q2The impact of the consumption tax increase is now explicitly stated.Annual report
「Meanwhile, the outlook remains uncertain due to factors including the impact of developments in trade issues on the global economy and the impact of the consumption tax increase on the domestic economy.」
In addition to the previously cited trade issues and uncertainty in overseas economies, the disclosure explicitly identifies the impact of the consumption tax increase on the domestic economy as a source of uncertainty about the outlook. - FY2020-Q1RestatedAnnual report
「In addition, the outlook remains uncertain due to the impact of developments in trade issues on the global economy, the outlook for the Chinese economy, and uncertainty surrounding developments and policy in overseas economies.」
The disclosure continues to cite uncertainty about the outlook, including trade issues, the Chinese economy, developments in overseas economies, and policy uncertainty. - FY2019WorsenedAnnual report
「Regarding the outlook, Japan's economy is expected to continue its gradual recovery, but uncertainty remains due to factors including developments in trade issues, the outlook for the Chinese economy, uncertainty surrounding developments and policy in the global economy, and volatility in financial and capital markets, with downside risks also present.」
In addition to the previously cited uncertainty in overseas economies, the disclosure lists trade issues, the Chinese economy, policy uncertainty, and volatility in financial and capital markets as specific downside factors. - FY2019-Q3RestatedAnnual report
「Although a gradual recovery trend continued, the outlook remains uncertain due to the impact of trade issues on the global economy and uncertainty in overseas economies.」
While indicating a gradual recovery trend, the disclosure continues to cite uncertainty about the outlook, including the impact of trade issues on the global economy and uncertainty in overseas economies. - FY2019-Q2The impact of trade issues is now explicitly stated.Annual report
「Although a gradual recovery trend continued, the outlook remains uncertain due to the impact of trade issues on the global economy and uncertainty in overseas economies.」
While indicating a gradual recovery trend, the disclosure explicitly identifies the impact of trade issues on the global economy as an additional source of uncertainty, alongside the previously cited uncertainty in overseas economies. - FY2019-Q1WorsenedAnnual report
「The outlook remains uncertain, owing to weak personal consumption and rising uncertainty in overseas economies.」
The wording has changed to refer to weak personal consumption and rising uncertainty in overseas economies. - FY2018RestatedAnnual report
「The outlook remains uncertain amid concerns over downside risks to the economy arising from domestic labor shortages and uncertainty in overseas economies.」
The outlook remains uncertain, including domestic labor shortages and uncertainty in overseas economies. - FY2018-Q3RestatedAnnual report
「In addition, the outlook remains uncertain due to concerns over domestic labor shortages and uncertainty in the global economy.」
Uncertainty about the outlook, including concerns over domestic labor shortages and uncertainty in the global economy, continues. - FY2018-Q2RestatedAnnual report
「Looking ahead, uncertainty continues, including due to labor shortages in Japan and uncertainty in overseas economic conditions.」
Uncertainty about the outlook, including labor shortages in Japan and uncertainty in overseas economic conditions, continues. - FY2018-Q1RestatedAnnual report
「Looking ahead, the situation remains uncertain, including concerns about labor shortages in Japan and uncertainty in overseas economic conditions.」
Uncertainty about the outlook, including uncertainty in overseas economic conditions, continues. - FY2017-Q3RestatedAnnual report
「Looking ahead, the situation remains uncertain, including due to uncertainty in overseas economic conditions.」
Uncertainty about the outlook, including uncertainty in overseas economic conditions, continues. - FY2017-Q2RestatedAnnual report
「Looking ahead, the situation is expected to remain uncertain, including due to the global economic environment such as sluggish emerging-market economies and the UK's EU withdrawal issue.」
Uncertainty in the global economy, including sluggish emerging-market economies and the UK's EU withdrawal issue, continues. - FY2017-Q1First statedAnnual report
「The situation of the global economy, including sluggish emerging-market economies and the UK's EU withdrawal issue, continues to create increasing uncertainty about the outlook.」
The global economic environment, including sluggish emerging-market economies and the UK's EU withdrawal issue, is described as a factor creating uncertainty in the business environment.