Unexpected, Sudden Changes in Economic Conditions
First written in FY2017. 12 of 25 entries say "Restated". Latest entry: FY2026.
Marche moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 18 of 27 companies on the "Worse" side.
9 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「During the fiscal year under review, Japan's economy remained on a moderate recovery trend against a backdrop of improvements in corporate earnings and the employment environment. However, the outlook remained uncertain due to worsening overseas conditions and the impact of rising prices.」
While acknowledging a recovery trend supported by improvements in corporate earnings and the employment environment, it continues to note uncertainty due to overseas conditions and rising prices. - FY2026-H1RestatedAnnual report
「During the interim accounting period under review, Japan's economy remained on a moderate recovery trend due to improvements in corporate earnings and the employment environment. However, the outlook remained uncertain amid rising prices arising from overseas conditions and other factors.」
While acknowledging a recovery trend supported by improvements in corporate earnings and the employment environment, it continues to note uncertainty over the outlook due to overseas conditions and rising prices. - FY2025Recovery trend coexisting with uncertainty due to rising pricesAnnual report
「The economy remained on a moderate recovery trend due to improvements in corporate earnings and the employment and income environment, as well as continued inbound demand associated with the yen's depreciation. However, the outlook remained uncertain amid rising prices arising from overseas conditions and other factors.」
While acknowledging the recovery driven by improvements in corporate earnings and the employment environment and by inbound demand, it continues to note uncertainty over the outlook due to overseas conditions and rising prices. - FY2024-Q3RestatedAnnual report
「However, the economic outlook remains uncertain due to the impact of rising global resource prices, price increases caused by foreign exchange fluctuations, and the prolonged situation in Ukraine, among other factors.」
It continues to note uncertainty over the outlook due to rising resource prices, foreign exchange fluctuations, rising prices, and the prolonged situation in Ukraine. - FY2024-Q1WorsenedAnnual report
「However, the economic outlook remains uncertain due to the prolonged situation in Ukraine, rising prices, and the yen's depreciation, among other factors.」
Regarding uncertainty in the economic environment, it specifically identifies the prolonged situation in Ukraine, rising prices, and the yen's depreciation. - FY2023WorsenedAnnual report
「However, the outlook remains uncertain due to soaring global energy prices, rising prices, and sharp foreign exchange fluctuations.」
Regarding uncertainty in the economic environment, it specifically identifies soaring energy prices, rising prices, and sharp foreign exchange fluctuations. - FY2023-Q3WorsenedAnnual report
「Rising prices associated with overseas conditions and the yen's depreciation have become more pronounced, and the outlook remains uncertain.」
Regarding uncertainty in the economic environment, it states that rising prices associated with overseas conditions and the yen's depreciation have become more pronounced. - FY2023-Q2WorsenedAnnual report
「The outlook remains uncertain amid overseas conditions and rising prices associated with the yen's depreciation.」
In addition to the existing uncertainty surrounding economic and overseas conditions, it specifically identifies rising prices associated with the yen's depreciation as a concern affecting the economic environment. - FY2022WorsenedAnnual report
「The situation remains unpredictable, with risks including higher food and energy prices due to soaring resource prices and yen depreciation, as well as risks to securing raw materials because of transportation problems from overseas.」
Regarding uncertainty in the economic environment, it identifies soaring resource prices, yen depreciation, rising energy prices, and securing raw materials amid overseas transportation problems as new concerns. - FY2022-Q3Economic activity recovery coexisting with concerns over variant strainsAnnual report
「From October, when the state of emergency was lifted as vaccination became widespread, customer traffic began to recover gradually as economic activity resumed in stages. However, concerns over a renewed spread of infections caused by a new variant emerged around early December, and the outlook remained uncertain.」
While noting a recovery driven by vaccinations and the resumption of economic activity following the lifting of the state of emergency, it states that the outlook remains uncertain due to concerns over a renewed spread of infections caused by new variant strains. - FY2021WorsenedAnnual report
「In January 2021, a second state of emergency was declared. Almost all directly operated stores either suspended operations or significantly revised their operating formats. For franchisees, the Group requested that they suspend operations during the state of emergency, provided information on support such as sustainability subsidies, and implemented measures including waiving or reducing royalties for a certain period.」
Regarding uncertainty in the economic environment, it specifically describes the second state of emergency declared in January 2021, the suspension of store operations, and support for franchisees. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter under review, Japan's economy faced continued difficult domestic consumption conditions due to the spread of COVID-19, while the outlook also remained uncertain amid a renewed increase in infections.」
It notes uncertainty over the outlook due to the difficult domestic consumption environment and the renewed spread of COVID-19. - FY2020WorsenedAnnual report
「Following the consumption tax increase implemented in October 2019 and the global spread of the novel coronavirus from January 2020, the outlook remained uncertain.」
In addition to the existing risks relating to overseas conditions and natural disasters, it notes economic uncertainty arising from the consumption tax increase and the spread of the novel coronavirus. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy remained on an uncertain outlook due to political developments and economic uncertainty overseas, including developments in trade issues centered on the United States and concerns over the outlook for the Chinese economy.」
It continues to note uncertainty over the economic outlook due to political developments and economic uncertainty overseas. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter under review, Japan's economy remained on a moderate recovery trend as employment and income conditions continued to improve. However, the outlook remained uncertain due to the impact of tensions surrounding trade issues on the global economy, uncertainty in overseas economies, and concerns over a decline in consumption following the consumption tax increase.」
While acknowledging improvements in the employment and income environment, it identifies concerns over trade issues and uncertainty in overseas economies, and adds concerns over a decline in consumption following the consumption tax increase as another factor affecting the economic environment. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy remained on an uncertain outlook despite a continuing moderate recovery trend, supported by increased capital investment and improvements in the employment and income environment. This reflected uncertainty in overseas political and economic conditions, including developments in trade issues centered on the United States and concerns over the outlook for the Chinese economy.」
While acknowledging improvements in capital investment and the employment environment, it continues to note economic uncertainty arising from trade issues involving the United States and concerns over the outlook for the Chinese economy. - FY2019WorsenedAnnual report
「The outlook remains uncertain, partly because a consumption tax increase and the introduction of a reduced tax rate are also scheduled.」
In addition to the existing uncertainty surrounding economic and overseas conditions, it newly specifies uncertainty arising from the planned consumption tax increase and introduction of a reduced tax rate. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy remained on a moderate recovery trend as the effects of the government's and the Bank of Japan's continued economic and monetary policies drove improvements in corporate earnings and the employment environment. However, the economic outlook remained uncertain due to uncertainty surrounding political and economic conditions overseas.」
While acknowledging improvements in corporate earnings and the employment environment, it reconfirms uncertainty over the outlook due to uncertainty surrounding political and economic conditions overseas. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy remained on a moderate recovery trend as the effects of the government's and the Bank of Japan's continued economic and monetary policies drove improvements in corporate earnings and the employment environment. However, the situation remained uncertain due to concerns over economic risks, including unstable political developments overseas.」
While acknowledging improvements in corporate earnings and the employment environment, it notes that uncertainty continues due to concerns over economic risks, including unstable political developments overseas. - FY2019-Q1RestatedAnnual report
「However, uncertainty overseas also remains, and the situation continues to be unclear.」
While acknowledging improvements in corporate earnings and the employment environment, it reconfirms uncertainty over the outlook due to uncertainty overseas. - FY2018RestatedAnnual report
「Unexpected sharp changes in economic conditions that could not have been anticipated at the beginning of the fiscal year may affect the company's operating results and financial condition.」
It continues to identify the impact of unexpected, sharp changes in economic conditions on operating results and financial condition as a risk. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy remained on a moderate recovery trend, supported by growth in corporate earnings and improvements in the employment environment. However, the economic outlook remained uncertain due to rising geopolitical risks and other factors.」
While acknowledging improvements in corporate earnings and the employment environment, it reconfirms uncertainty over the economic outlook due to rising geopolitical risks and other factors. - FY2018-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan's economy remained on a moderate recovery path owing to improvements in corporate earnings and the employment environment, but the economic outlook remained uncertain amid heightened geopolitical risks and other factors.」
While acknowledging improvements in corporate earnings and the employment environment, it notes continued uncertainty over the outlook due to rising geopolitical risks and other factors. - FY2018-Q1RestatedAnnual report
「Although corporate earnings and the employment environment improved and the economy remained on a moderate recovery path, the outlook remains uncertain due to sluggish personal consumption and changes in the international situation.」
The company reaffirmed the uncertainty of the outlook caused by sluggish personal consumption and changes in the international situation as a risk in the operating environment. - FY2017First statedAnnual report
「Unexpected sharp changes in economic conditions that could not have been anticipated at the beginning of the fiscal year may affect the company's operating results and financial condition.」
The company newly identified unexpected sharp changes in economic conditions that could not have been anticipated at the beginning of the fiscal year as a risk affecting operating results and financial condition.