Concerns About a Slowdown in the Domestic Economy
First written in FY2020-Q2. 8 of 19 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「During the interim accounting period (1 April 2025 to 30 September 2025), Japan's economy maintained a gradual recovery trend against the backdrop of improving employment and income conditions and strong inbound demand. However, the outlook for the domestic and overseas economies remained uncertain due to the impact of US tariff policy and turmoil in the Middle East, among other factors.」
A recovery trend driven by improving employment and income conditions and inbound demand coexists with uncertainty over the outlook for the domestic and overseas economies. - FY2025RestatedAnnual report
「During the fiscal year from 1 April 2024 to 31 March 2025, Japan's economy maintained a recovery trend despite a temporary deterioration in sentiment. The Bank of Japan ended its negative interest rate policy in March, the Nikkei Stock Average reached a record high, and a return to an inflationary economy emerged across a broad range of areas, including higher official land prices and wage increases. Although the economy recovered on a rebound in private consumption and strong inbound demand, the growth rate for 2024 as a whole was negative, while yen depreciation, labor shortages and a slowdown and stagnation in overseas economies provided headwinds, leaving the economy in a chaotic state with deflationary conditions still present.」
Although signs of an economic recovery emerged, the company continues to describe the domestic economy as chaotic due to negative growth, yen depreciation, labor shortages and a slowdown in overseas economies, among other factors. - FY2025-H1RestatedAnnual report
「Resource prices and prices generally continued to rise, the yen remained weak, and private consumption in daily life struggled to grow. The outlook for the domestic economy remained uncertain due to monetary policy, share-price fluctuations and other factors.」
The company reconfirms uncertainty over the domestic economy due to resource prices and inflation, yen depreciation, sluggish private consumption, and monetary policy and share-price fluctuations. - FY2024RestatedAnnual report
「As the economy emerged from the COVID shock, social and economic activity normalized and a gradual recovery trend emerged. However, economic activity became chaotic amid global instability and differing monetary policies among countries, which contributed to yen depreciation, surging resource prices, higher prices and weak private consumption.」
Although social and economic activity normalized and a gradual recovery emerged, uncertainty continued due to yen depreciation, higher resource prices and inflation, and weak private consumption. - FY2024-Q3Recovery in economic activity coexists with high prices and weak consumptionAnnual report
「During the cumulative third-quarter period (1 April 2023 to 31 December 2023), Japan's economy saw social and economic activity normalize and showed signs of a gradual recovery as it emerged from the COVID shock. However, economic activity became chaotic amid global instability and differing monetary policies among countries, which contributed to yen depreciation, surging resource prices, higher prices and weak private consumption.」
Although social and economic activity normalized and a gradual recovery emerged, economic activity was described as chaotic due to yen depreciation, higher resource prices and inflation, and weak private consumption, with recovery coexisting with uncertainty. - FY2024-Q2Recovery in tourism and food service coexists with high prices and weak private consumptionAnnual report
「During the cumulative second-quarter period (1 April 2023 to 30 September 2023), Japan's economy saw recovery in tourism and food services as the number of visitors to Japan increased with the economy emerging from the COVID shock. However, economic activity became chaotic amid global instability and differing monetary policies among countries, which contributed to yen depreciation, surging resource prices, higher prices and weak private consumption.」
Although some industries recovered as the economy emerged from the COVID shock and the number of visitors to Japan increased, uncertainty persisted amid yen depreciation, surging resource prices, higher prices and weak private consumption. - FY2024-Q1Recovery in consumption coexists with uncertainty caused by rising pricesAnnual report
「As COVID-19 was reclassified as a Category V infectious disease under the Infectious Diseases Act, domestic activity restrictions and entry restrictions for visitors from abroad were eased, supporting a recovery in private consumption. However, the outlook for the domestic economy remained uncertain due to surging raw material and energy prices and rising prices generally.」
Although the reclassification of COVID-19 as a Category V infectious disease and the easing of activity restrictions supported a recovery in private consumption, uncertainty over the domestic economy continued due to surging raw material and energy prices and rising prices. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter ended 31 December 2022 (1 April 2022 to 31 December 2022), economic activity in Japan remained chaotic due to constraints on the supply of raw materials and fuel resulting from the prolonged situation in Ukraine, global inflation and foreign-exchange fluctuations.」
The company states that economic activity is in a chaotic state against the backdrop of constraints on raw material and fuel supplies, rising prices and foreign-exchange fluctuations. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter ended 30 September 2022 (1 April 2022 to 30 September 2022), Japan's economy became chaotic due to the unstable global situation and the monetary policies of individual countries, which led to yen depreciation, higher resource prices and other costs, rising prices and sluggish personal consumption.」
The company identifies yen depreciation, higher resource prices and inflation, and weak private consumption as new sources of uncertainty for the domestic economy. - FY2023-Q1WorsenedAnnual report
「Although the easing of COVID-19-related activity restrictions raised expectations for a recovery in economic activity, concerns over an economic slowdown continued amid higher raw material prices due to the situation in Ukraine and other factors, sharp foreign-exchange movements including yen depreciation, and higher prices for everyday goods.」
Although the easing of activity restrictions points to a potential recovery, new concerns over an economic slowdown due to higher raw material prices, yen depreciation and rising prices have been identified, increasing uncertainty over the outlook. - FY2022Recovery trend and an uncertain outlook coexistAnnual report
「Although a gradual recovery trend emerged in production, logistics and private consumption as the impact of the prolonged COVID-19 pandemic continued, conditions remained uncertain.」
Although production, logistics and private consumption showed gradual signs of recovery, uncertainty over the outlook for the domestic economy continued due to the prolonged pandemic and other factors. - FY2022-Q3WorsenedAnnual report
「Recently, however, infections have been spreading again in various regions due to new variants, and the outlook for the end of the COVID-19 pandemic remains unclear. Conditions continued to be uncertain.」
The company notes that, following a temporary decline in infections and a gradual recovery trend, infections began spreading again due to new variants and the end of the pandemic remained out of sight, heightening uncertainty over the domestic economy. - FY2022-Q1WorsenedAnnual report
「During the cumulative first-quarter period (1 April 2021 to 30 June 2021), Japan's economy remained in an uncertain business environment, as the declaration of the third state of emergency and other factors weighed on private consumption, various activity restrictions continued to contain COVID-19 infections, and corporate earnings and employment conditions deteriorated.」
The company cites weaker private consumption due to the state of emergency and other measures, activity restrictions, and deteriorating corporate earnings and employment conditions, noting that uncertainty over the domestic economy persists. - FY2021-Q3RestatedAnnual report
「During the cumulative third-quarter period (1 April 2020 to 31 December 2020), economic activity gradually began to recover as restrictions were eased and activity levels were raised in stages following the lifting of the state of emergency in May 2020, despite the prolonged impact of the spread of COVID-19. However, the renewed spread of infections has recently intensified, and an uncertain outlook continues.」
The domestic economy continues to show both a recovery trend in economic activity and renewed infections with an uncertain outlook. - FY2021-Q2RestatedAnnual report
「During the cumulative second-quarter period (1 April 2020 to 30 September 2020), Japan's economy faced extremely challenging conditions, including stagnant corporate activity and weak private consumption caused by the spread of COVID-19. Although domestic consumption began to recover as the lifting of the state of emergency allowed corporate activity to resume, the outlook remained uncertain because the end of the COVID-19 pandemic could not be foreseen.」
The company describes challenging conditions caused by stagnant corporate activity and weak private consumption, while noting both a recovery trend in domestic consumption and the lack of visibility on the end of the pandemic. - FY2021-Q1WorsenedAnnual report
「During the cumulative first-quarter period (1 April 2020 to 30 June 2020), Japan's economy saw economic activity stagnate amid the global spread of COVID-19, and an uncertain business environment continued, marked by lower corporate earnings and weakening consumer sentiment due to deteriorating employment conditions.」
The spread of COVID-19 caused economic activity to stagnate, corporate earnings to decline, employment conditions to deteriorate and consumer sentiment to weaken, heightening uncertainty over the domestic economy. - FY2020WorsenedAnnual report
「Domestic conditions continued on a gradual recovery trajectory against the backdrop of improving employment and income conditions while the Bank of Japan maintained its monetary easing policy. However, the outlook remained uncertain, as consumer preferences for frugality remained entrenched due to the impact of the consumption tax increase and successive natural disasters on consumer sentiment, compounded by the impact of the COVID-19 pandemic.」
In addition to the consumption tax increase, natural disasters and frugality, the company cites the impact of the COVID-19 pandemic, which has heightened uncertainty over the outlook for the domestic economy. - FY2020-Q3WorsenedAnnual report
「The domestic economy continued on a gradual recovery trajectory against the backdrop of improving employment and income conditions while the Bank of Japan maintained its monetary easing policy. However, the outlook remained uncertain, as consumer preferences for frugality remained entrenched due to the impact of the consumption tax increase and successive natural disasters on consumer sentiment, while companies also faced difficulty hiring because of labor shortages and the impact of rising personnel expenses on earnings, among other factors.」
Despite the recovery in private consumption, the company continues to cite an uncertain outlook due to frugality driven by the consumption tax increase and natural disasters, as well as labor shortages and rising personnel expenses. - FY2020-Q2First statedAnnual report
「The domestic economy continued to recover gradually as private consumption improved alongside better employment conditions while the Bank of Japan maintained its monetary easing policy. However, concerns over an economic slowdown ahead have intensified, as exports and production have been affected by the US-China trade friction and other factors, in line with the global economy.」
The company states that, although private consumption continues to recover, concerns over a future economic slowdown have intensified due to the impact of the US-China trade friction and other factors on exports and production.