Uncertainty Caused by the Economic Slowdown in Emerging Asian and Resource-Rich Countries and the UK's Withdrawal from the EU
First written in FY2017-Q1. 16 of 28 entries say "Restated". Latest entry: 2026-08-07.
Nishikawa Keisoku moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
68 other companies' latest entry also says "Worsened".
- 2026-08-07WorsenedEarnings
「After incorporating to a certain extent the uncertainty in the external environment, including higher raw material prices and labor costs resulting from geopolitical risks related to the situation in the Middle East and elsewhere, we forecast net sales of ¥41 billion, operating profit of ¥4 billion, ordinary profit of ¥4.2 billion and net income of ¥2.9 billion for the next fiscal year ending June 2027.」
Geopolitical risks related to the situation in the Middle East and elsewhere, higher raw material prices and rising labor costs were explicitly identified as assumptions underlying the next fiscal year's earnings forecast. - FY2026-H1RestatedAnnual report
「During the interim accounting period, there were no new matters relating to the business or accounting information described in this interim report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2025RestatedAnnual report
「On the other hand, overseas economic weakness could put downward pressure on Japan's economy, due to factors including prolonged geopolitical risks associated with the situations in Ukraine and the Middle East, concerns over the outlook for China's economy and monetary tightening by countries in response to ongoing global inflation. The outlook therefore remains uncertain.」
The statement reconfirms geopolitical risks, China's economy, and concerns over an economic downturn caused by global inflation and monetary tightening as external-environment uncertainties continuing from the previous fiscal year. - FY2025-H1RestatedAnnual report
「During the interim accounting period, there were no new matters relating to the business or accounting information described in this interim report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2024WorsenedAnnual report
「On the other hand, overseas economic weakness could put downward pressure on Japan's economy, due to factors including prolonged geopolitical risks associated with the situations in Ukraine and the Middle East, concerns over the outlook for China's economy and monetary tightening by countries in response to ongoing global inflation. The outlook therefore remains uncertain.」
While describing normalization following the transition of the novel coronavirus infection to Category 5, the statement identifies the situations in Ukraine and the Middle East, China's economy, inflation and monetary tightening as new factors contributing to uncertainty. - FY2024-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2024-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2023WorsenedAnnual report
「During the fiscal year, economic activity in Japan moved toward normalization as restrictions on activities related to the novel coronavirus infection were gradually eased, and signs of a moderate recovery emerged. However, the outlook remains uncertain due to concerns including a prolonged conflict in Ukraine, soaring energy and raw material prices and an economic slowdown resulting from accelerating global inflation.」
While describing normalization following the easing of restrictions on activities related to the novel coronavirus, the statement identifies the conflict in Ukraine, soaring energy and raw material prices and concerns over an economic slowdown caused by global inflation as new factors contributing to uncertainty. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2023-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2022WorsenedAnnual report
「During the fiscal year, Japan's economy remained uncertain about its outlook due to the spread of the novel coronavirus infection, sharp foreign exchange fluctuations and the situation in Ukraine.」
In addition to the previous uncertainty in overseas economies and other factors, the novel coronavirus infection, sharp foreign exchange fluctuations and the situation in Ukraine are explicitly identified as factors contributing to uncertainty about the outlook. - FY2022-Q3WorsenedAnnual report
「During the first 3 quarters of the fiscal year, Japan's economy remained uncertain about its outlook due to sharp fluctuations in foreign exchange rates, soaring resource prices and semiconductor shortages.」
Sharp fluctuations in foreign exchange rates, soaring resource prices and semiconductor shortages are specifically identified as factors contributing to uncertainty in the economic environment, and the statement says that uncertainty about the outlook continues. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2022-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2021-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2021-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2021-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new matters relating to the business or accounting information described in this quarterly report that could materially affect investment decisions, nor any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The statement says that there have been no significant changes in existing risks, including uncertainty in overseas economies. - FY2020-Q3WorsenedAnnual report
「During the first 3 quarters of the fiscal year, Japan's economy remained uncertain about its outlook due to U.S.-China trade friction, the consumption tax increase and the novel coronavirus infection, despite expectations of a moderate recovery amid continued improvement in employment and income conditions.」
In addition to the previous factors, such as U.S.-China trade friction and geopolitical risks, the consumption tax increase and the novel coronavirus infection are explicitly identified as factors contributing to uncertainty in the domestic economy. - FY2019WorsenedAnnual report
「During the fiscal year, Japan's economy experienced greater uncertainty about its outlook due to U.S.-China trade friction, the UK's withdrawal from the EU and rising geopolitical risks. However, demand for investment in growth sectors driven by technological innovation and labor-saving investment due to labor shortages remained solid, resulting in moderate overall growth.」
The statement says that U.S.-China trade friction, the UK's withdrawal from the EU and geopolitical risks increased uncertainty about the outlook. - FY2018ReframedAnnual report
「During the fiscal year, Japan's economy remained generally firm, as corporate earnings and employment and income conditions continued to improve, partly due to the effects of various government policies, despite U.S. economic policy and geopolitical risks.」
The wording has returned from the general expression "uncertainty in overseas economies" to specifically identify U.S. economic policy and geopolitical risks as concerns. - FY2018-Q3SoftenedAnnual report
「During the first 3 quarters of the fiscal year, Japan's economy continued to recover moderately, with corporate earnings and employment and income conditions improving, despite concerns over uncertainty in overseas economies.」
The explanation of uncertainty in the economy has been streamlined from the specific factors cited through the previous quarter, such as U.S. policy management and geopolitical risks, to the general expression "uncertainty in overseas economies." - FY2018-Q2SoftenedAnnual report
「However, due to the impact of U.S. policy management and rising geopolitical risks, the outlook for the economy remains uncertain.」
U.S. policy management and geopolitical risks are identified as factors contributing to the uncertain economic outlook. The explicit reference to the "slowdown in emerging-market economies" in the immediately preceding statement has been removed from the current wording. - FY2018-Q1ReframedAnnual report
「However, due to the impact of U.S. policy management, the slowdown in emerging-market economies and rising geopolitical risks, the outlook for the economy remains uncertain.」
The explanation of factors contributing to the uncertain economic outlook has shifted from the UK's withdrawal from the EU and the economic slowdown in China and resource-rich countries to U.S. policy management, the slowdown in emerging-market economies and geopolitical risks. - FY2017RestatedAnnual report
「During the fiscal year, the Japanese economy remained generally solid, supported in part by the effects of various government policies, and employment and income conditions continued to improve, despite concerns about the UK's withdrawal from the EU, economic slowdowns in China and other emerging countries, and uncertainty in overseas economies.」
The company continues to identify the UK's withdrawal from the EU, economic slowdowns in China and other emerging countries, and uncertainty in overseas economies as concerns. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter, the Japanese economy remained generally solid, supported in part by the effects of various government policies, and employment and income conditions continued to improve, despite concerns about the UK's withdrawal from the EU, economic slowdowns in China and other emerging countries, and uncertainty in overseas economies.」
The company continues to identify the UK's withdrawal from the EU, economic slowdowns in China and other emerging countries, and uncertainty in overseas economies as concerns, while stating that the domestic economy remained generally solid. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter, the Japanese economy regained stability in the domestic foreign exchange and stock markets amid the UK's withdrawal from the EU, economic slowdowns in China and other emerging countries, and rising uncertainty in overseas economies, but the economic outlook remained uncertain.」
The company continues to identify the UK's withdrawal from the EU, economic slowdowns in China and other emerging countries, and uncertainty in overseas economies as factors contributing to an uncertain outlook. - FY2017-Q1First statedAnnual report
「However, the outlook remains uncertain owing to heightened uncertainty resulting from economic slowdowns in emerging Asian and resource-rich countries, including China, and the UK's withdrawal from the EU.」
The company identifies economic slowdowns in emerging Asian and resource-rich countries, including China, and the UK's withdrawal from the EU as factors contributing to an uncertain outlook for the first time.