Uncertainty over the Outlook for the Domestic Economy Due to Yen Appreciation, Stock Market Weakness and Other Factors
First written in FY2017-Q1. 14 of 34 entries say "Restated". Latest entry: 2026-07-31.
Saftec moved to the "Worse" side of this theme in 2021, 2 years after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 151 of 176 companies on the "Worse" side.
64 other companies' latest entry also says "Restated".
- 2026-07-31RestatedEarnings
「一方、中東情勢の緊迫化に伴う資源価格の高止まりや供給面への影響懸念、さらには米国の通商政策や日中関係の不安定化など、依然として景気の先行きは不透明な状況が続いております。」
中東情勢、資源価格、米国の通商政策、日中関係を景気の先行き不透明要因として再確認している。 - FY2026The Middle East situation, Japan-China relations, and trade policy were added as uncertainty factors.Annual report
「During the consolidated fiscal year, Japan's economy continued to follow a gradual recovery trend, supported by improvements in corporate earnings and employment and income conditions. Meanwhile, concerns arose over downside risks, including a sharp rise in crude oil prices due to escalating tensions in the Middle East, higher prices resulting from concerns over supplies of fuel and petrochemical products, U.S. trade policy, and growing instability in Japan-China relations, and the outlook for the economy remained uncertain.」
While indicating a gradual recovery trend, it identifies the situation in the Middle East, crude oil and fuel prices, U.S. trade policy, and growing instability in Japan-China relations as downside factors. - 2026-05-08RestatedEarnings
「一方、中東情勢の緊迫化の影響による原油価格の急騰、燃料及び石油化学製品の供給懸念等による物価高騰、さらには米国の通商政策や日中関係の不安定化など下押しリスクが懸念されており、依然として景気の先行きは不透明な状況が続いております。」
中東情勢、物価高騰、米国の通商政策、日中関係の不安定化を景気の下押し要因として記載している。 - FY2026-H1Identified trade policy, international conditions and rising prices as factors contributing to uncertaintyAnnual report
「During the interim consolidated accounting period, Japan's economy followed a gradual recovery trend, supported by improvements in employment and income conditions. Meanwhile, conditions remained uncertain due to the impact on the economy of uncertainty surrounding U.S. trade policy and other matters, prolonged instability in international conditions, and rising prices, including surging raw material prices.」
While indicating a recovery trend supported by improvements in employment and income conditions, it identifies U.S. trade policy, unstable international conditions, and rising prices, including surging raw material prices, as factors contributing to uncertainty. - FY2025-H1RestatedAnnual report
「Meanwhile, raw material and energy prices have continued to rise due to unstable international conditions and sharp fluctuations in foreign exchange rates, and conditions have remained uncertain.」
While the economy is gradually recovering, it continues to identify unstable international conditions, sharp foreign exchange movements, and higher raw material and energy prices as sources of uncertainty about the outlook. - FY2024Added escalating international tensions, interest rate hikes and supply chain disruptionsAnnual report
「Meanwhile, concerns arose over downside risks to the economy due to escalating international tensions, higher prices resulting from interest rate hikes and supply chain disruptions, and conditions remained uncertain.」
While indicating a recovery trend resulting from the normalization of socioeconomic activity, it identifies international tensions, interest rate hikes, higher prices and supply chain disruptions as new factors contributing to uncertainty. - FY2024-Q3Added the situation in the Middle East and persistently high resource and energy pricesAnnual report
「During the consolidated cumulative period through the third quarter, Japan's economy showed a gradual recovery as restrictions on activities related to COVID-19 were lifted and socioeconomic activity continued to normalize. Meanwhile, conditions remained uncertain due to higher prices caused by the prolonged situation in Ukraine, growing tensions in the Middle East, and persistently high resource and energy prices resulting from the depreciation of the yen.」
While noting the normalization of socioeconomic activity and a gradual economic recovery, it identifies the growing tensions in the Middle East, persistently high resource and energy prices, and higher prices, in addition to the situation in Ukraine and the depreciation of the yen, as factors contributing to uncertainty. - FY2024-Q2Economic recovery alongside persistently high raw material pricesAnnual report
「During the consolidated cumulative period through the second quarter, Japan's economy showed a gradual recovery as restrictions on activities related to COVID-19 were lifted and socioeconomic activity continued to normalize. Meanwhile, raw material prices remained elevated due to the prolonged situation in Ukraine and the sharp depreciation of the yen, and conditions remained uncertain.」
While the lifting of activity restrictions and normalization of socioeconomic activity indicated a gradual economic recovery, uncertainty continued due to the situation in Ukraine, the sharp depreciation of the yen and persistently high raw material prices. - FY2024-Q1A recovery trend and higher raw material and energy prices existing side by sideAnnual report
「During the six months ended the first quarter, the Japanese economy remained on a gradual recovery path as restrictions on activities and entry restrictions related to COVID-19 were eased in stages. Meanwhile, raw material and energy prices continued to rise due to the prolonged situation in Ukraine and the trend toward yen depreciation accompanying global monetary tightening, leaving the outlook uncertain.」
A gradual economic recovery resulting from the easing of restrictions on activities and entry restrictions coexists with uncertainty from the situation in Ukraine, monetary tightening, yen depreciation, and higher raw material and energy prices. - FY2023An economic recovery and uncertainty from price and exchange-rate factors existing side by sideAnnual report
「During the consolidated fiscal year, economic activity moved toward normalization and the economy showed a gradual recovery as restrictions on activities were eased despite the continuing impact of COVID-19. Meanwhile, prices and raw material costs continued to rise due to the prolonged situation in Ukraine and other factors, and the trend toward yen depreciation also continued, leaving the outlook uncertain.」
The disclosure points to the normalization of economic activity and a gradual recovery as restrictions on activities were eased, while uncertainty from the situation in Ukraine, higher prices and raw material costs, and yen depreciation continued. - FY2023-Q3Improving economic conditions and instability from exchange rates and higher raw material prices existing side by sideAnnual report
「During the nine months ended the third quarter, the Japanese economy was gradually improving as restrictions on activities in response to COVID-19 were lifted and other measures were taken. However, conditions remained unstable due to sharp exchange-rate fluctuations and higher raw material prices.」
The disclosure states that the domestic economy was gradually improving due to the lifting of restrictions on activities and other measures, while conditions remained unstable because of sharp exchange-rate fluctuations and higher raw material prices. - FY2023-Q2Signs of recovery and uncertainty from higher raw material prices existing side by sideAnnual report
「During the six months ended the second quarter, signs of recovery emerged as restrictions on activities were eased and economic activity was maintained despite a resurgence of COVID-19 infections. However, raw material prices continued to rise due to the prolonged situation in Ukraine and rapid yen depreciation, leaving conditions uncertain.」
The disclosure points to signs of a domestic economic recovery due to the easing of restrictions on activities, while noting the coexistence of uncertainty from the resurgence of infections, the situation in Ukraine, rapid yen depreciation, and higher raw material prices. - FY2023-Q1An economic recovery and renewed uncertainty existing side by sideAnnual report
「During the six months ended the first quarter, the Japanese economy showed signs of recovery as infections declined and economic activity gradually returned to normal. However, the resurgence of infections, overseas conditions, yen depreciation, and continued increases in raw material prices left conditions uncertain.」
The disclosure states that the economy recovered as infections declined and economic activity normalized, while uncertainty remained due to the resurgence of infections, overseas conditions, yen depreciation, and higher raw material prices. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, COVID-19 vaccinations progressed, but infections continued to rise and fall with no clear prospect of containment, and new variants were also identified, leaving conditions uncertain. In addition, many raw materials became more expensive and procurement prices rose, while the situation in Ukraine and yen depreciation were likely to drive further price increases.」
Even after vaccinations, the end of the spread of infections remained out of sight, while new variants, the situation in Ukraine, and yen depreciation continued to create uncertainty for the domestic economy and prices. - FY2022-Q3Signs of an economic recovery and renewed uncertainty due to the spread of variants existing side by sideAnnual report
「During the nine months ended the third quarter, signs of an economic recovery emerged as COVID-19 vaccinations progressed, infections declined due to various restrictions on activities, and emergency declarations and other measures were lifted. However, new variants were identified and spread in Japan and overseas, making conditions uncertain again.」
The disclosure states that signs of an economic recovery emerged as vaccinations progressed and restrictions on activities were lifted, but conditions became uncertain again as new variants spread in Japan and overseas. - FY2022-Q1RestatedAnnual report
「During the six months ended the first quarter, the Japanese economy remained in difficult conditions as the end of the COVID-19 pandemic remained out of sight, emergency declarations and priority preventive measures were repeatedly imposed in some areas, and economic activity was restricted while personal consumption stagnated.」
The recognition that domestic economic conditions remain difficult due to restrictions on economic activity and weak personal consumption caused by COVID-19 continues. - FY2021-Q3WorsenedAnnual report
「During the nine months ended the third quarter, the Japanese economy remained unstable as restrictions on economic activity and weak personal consumption continued due to the spread of COVID-19. The end of the spread remained out of sight, and the outlook continued to be uncertain both in Japan and overseas.」
The description changed from the previous recovery and firm domestic economic conditions to one stating that the economy was unstable due to restrictions on economic activity and weak personal consumption, with the outlook uncertain in Japan and overseas. - FY2021-Q2WorsenedAnnual report
「During the six months ended the second quarter, Japan's economy deteriorated as the spread of COVID-19 continued to restrict economic activity and suppress personal consumption. Conditions varied and governments took different measures worldwide, but the global economic slowdown continued, leaving economic conditions uncertain both in Japan and overseas.」
The description changed from the previous recovery trend and firm conditions to one stating that domestic economic conditions had deteriorated due to restrictions on economic activity and weak personal consumption, while the global economic slowdown also continued. - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The existing risk of uncertainty over the outlook for the domestic economy due to yen appreciation, a sluggish stock market, and other factors is described as having undergone no material change. - FY2020DroppedAnnual report
「During the consolidated fiscal year, the global economy showed signs of stagnation due to prolonged US-China trade friction, but employment and income conditions in Japan improved gradually and the economy remained on a recovery path.」
No direct reference to the previous domestic economic risks centered on yen appreciation and a sluggish stock market can be identified. - FY2020-Q3RestatedAnnual report
「During the nine months ended the third quarter, the Japanese economy remained firm as employment and income conditions continued to improve. However, unstable factors including prolonged US-China trade friction and the UK's Brexit issue also persisted, with their impact on the global economy becoming prolonged. In Japan as well, concerns about an economic slowdown in some industries made the situation difficult to predict.」
The disclosure continues to describe firm domestic economic conditions supported by improved employment and income conditions, alongside overseas instability and concerns about an economic slowdown in some industries. - FY2020-Q2Domestic recovery and overseas stagnation existing side by sideAnnual report
「During the six months ended the second quarter, the Japanese economy recovered gradually as employment and income conditions continued to improve. Meanwhile, the global economy showed signs of stagnation due to prolonged US-China trade friction and the UK's Brexit issue, raising concerns about the impact on Japan. Concerns about an economic slowdown in some industries also made the situation difficult to predict.」
The domestic economy is described as recovering gradually due to improved employment and income conditions, while stagnation in overseas economies and concerns about an economic slowdown in some industries are also noted. - FY2020-Q1RestatedAnnual report
「During the six months ended the first quarter, the Japanese economy remained on a gradual recovery path, supported by improved employment and income conditions and firm corporate performance. Meanwhile, the effects of prolonged US-China trade friction had begun to emerge in related countries, raising concerns about a global economic slowdown. The outlook remained uncertain as the impact on Japan was unclear.」
The disclosure continues to describe the domestic economy as being on a gradual recovery path, while noting uncertainty from a global economic slowdown caused by US-China trade friction and its potential spillover into Japan. - FY2019RestatedAnnual report
「During the consolidated fiscal year, the Japanese economy continued on a gradual recovery path, with firm corporate performance and ongoing improvements in employment, income, and working conditions. Meanwhile, concerns about a global economic slowdown stemming from prolonged US-China trade friction continued, and the potential risks to Japan remained unknown, leaving the outlook uncertain.」
The disclosure continues to describe the domestic economy as being on a gradual recovery path, while noting concerns that a global economic slowdown caused by overseas factors could spill over into Japan. - FY2019-Q3RestatedAnnual report
「During the nine months ended the third quarter, the Japanese economy remained on a recovery path, with strong capital investment supported by firm corporate earnings and continued improvement in employment conditions. Meanwhile, concerns about a global economic slowdown resulting from prolonged trade friction between the United States and China, and its potential impact on Japan, left the outlook uncertain.」
The disclosure describes the domestic economy as being on a recovery path, while noting uncertainty over the outlook due to a global economic slowdown caused by overseas factors and its potential impact on Japan. - FY2019-Q2RestatedAnnual report
「During the six months ended the second quarter, corporate earnings remained firm and employment conditions continued to improve, with the economy continuing on a recovery path.」
The disclosure indicates that improved corporate earnings and employment conditions and the recovery of the domestic economy are continuing. - FY2019-Q1SoftenedAnnual report
「During the six months ended the first quarter, the Japanese economy continued to improve in corporate performance and personal consumption and remained on a recovery path.」
The disclosure points to improvements in corporate performance and personal consumption and a recovery trend, using less pessimistic language than before regarding uncertainty over the outlook for the domestic economy. - FY2018-Q3SoftenedAnnual report
「During the nine months ended the third quarter, the Japanese economy continued to recover against a backdrop of improved corporate earnings and employment conditions. Personal consumption also began to show signs of recovery, and the economy performed well despite instability in overseas conditions.」
The disclosure points to improved corporate earnings and employment conditions and a recovery in personal consumption, using less pessimistic language than before regarding uncertainty over the outlook for the domestic economy. Instability in overseas conditions remains. - FY2018-Q2RestatedAnnual report
「During the six months ended the second quarter, the Japanese economy continued to recover against a backdrop of improved corporate earnings and employment conditions. However, personal consumption showed no strength, and the outlook remained uncertain amid US economic policy and instability in Europe.」
The disclosure continues to describe a recovery trend supported by improved corporate earnings and employment conditions, while noting uncertainty over the outlook due to weak personal consumption, US economic policy, and instability in Europe. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended March 31. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The existing risk of uncertainty over the outlook for the domestic economy due to yen appreciation, a sluggish stock market, and other factors is described as having undergone no material change. - FY2017SoftenedAnnual report
「During the consolidated fiscal year, corporate earnings and employment conditions in Japan remained firm, supported by the government's economic policies and the Bank of Japan's monetary policy, and the economy continued on a gradual recovery path. Meanwhile, the outlook remained uncertain as it was unclear how the UK's Brexit issue and the economic policies of the new US administration would affect the global economy and Japan.」
The description of the domestic economy reflects firm corporate earnings and employment conditions and a recovery trend. The previous emphasis on uncertainty from yen appreciation and a sluggish stock market has eased relatively, while overseas factors remain. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The outlook for the domestic economy, affected by yen appreciation, a sluggish stock market, and other factors, is described comprehensively as having undergone no material change. - FY2017-Q2RestatedAnnual report
「There are also concerns about the impact of further yen appreciation on corporate performance.」
Concerns about the impact of further yen appreciation on corporate performance continue. - FY2017-Q1First statedAnnual report
「During the six months ended the first quarter, the Japanese economy was affected by rapid yen appreciation and a sluggish stock market. Corporate earnings were expected to slow, and the pace of recovery in personal consumption was expected to be affected, leaving the outlook uncertain.」
Rapid yen appreciation and a sluggish stock market are described as new external risks, creating uncertainty for the domestic economy through their impact on corporate earnings and personal consumption.