Uncertainty over the economic outlook due to U.S.-China and other trade frictions
First written in FY2019-Q3. 3 of 13 entries say "Restated". Latest entry: FY2025.
Kourakuen moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 10 of 14 companies on the "Worse" side.
1 other company's latest entry also says "Other".
- FY2025Addition of external uncertaintyAnnual report
「The outlook remains uncertain as consumer sentiment has deteriorated due to continued inflation caused by the prolonged depreciation of the yen and rising rice prices from the second half of the year, while corporate activity has been affected by the US government's protectionist, America First trade policies.」
Rising rice prices, US trade policy and weaker consumer sentiment have been added to the existing depreciation of the yen and inflation as sources of uncertainty in the economic and business environment. - FY2024-Q2Addition of external uncertaintyAnnual report
「Meanwhile, the outlook remains uncertain due to continued inflation caused by rising energy and raw material prices as the situation in Ukraine persists, the yen's further depreciation resulting from the impact of monetary policy measures in Japan and the United States, and the outbreak of the Israel-Palestine conflict.」
The outbreak of the Israel-Palestine conflict has been added to the existing factors contributing to an uncertain economic outlook: the situation in Ukraine, resource and raw material prices, inflation, and the yen's depreciation. - FY2024-Q1RestatedAnnual report
「However, the outlook remained uncertain as higher raw material and energy prices resulting from the prolonged Russia-Ukraine situation, rising global inflation and yen depreciation caused by the widening interest-rate differential between Japan and the United States continued.」
The company continues to disclose the Russia-Ukraine situation, raw material and energy prices, global inflation and yen depreciation as risks making the outlook uncertain. - FY2023RestatedAnnual report
「Meanwhile, recession risks increased as higher raw material and energy prices resulting from the prolonged Russia-Ukraine situation, rising global inflation and yen depreciation caused by the widening interest-rate differential between Japan and the United States continued. The outlook therefore remained uncertain.」
The company continues to identify the Russia-Ukraine situation, raw material and energy prices, global inflation and yen depreciation as recession risks. - FY2023-Q2Addition of global inflation and yen depreciationAnnual report
「However, recession risks increased as the sharp rise in infections with COVID-19 variants from July, higher raw material and energy prices resulting from the prolonged Russia-Ukraine situation, rising global inflation and rapid yen depreciation caused by the widening interest-rate differential between Japan and the United States continued. The outlook therefore remained uncertain.」
In addition to COVID-19 and the Ukraine issue, the company explicitly identified rising global inflation and rapid yen depreciation caused by the widening interest-rate differential between Japan and the United States as factors contributing to recession risk. - FY2023-Q1Addition of the Ukraine issue and rising resource pricesAnnual report
「During the first quarter consolidated cumulative period (from 1 April 2022 to 30 June 2022), the Japanese economy remained in an uncertain outlook. Although the number of COVID-19 cases had begun to decline, the economy was affected by rising resource prices associated with the Ukraine issue.」
In addition to COVID-19, the company explicitly identified rising resource prices associated with the Ukraine issue as a factor making the economic outlook uncertain. - FY2022WorsenedAnnual report
「During the consolidated fiscal year (from 1 April 2021 to 31 March 2022), the Japanese economy remained in a difficult condition due to the global spread of COVID-19, and the outlook continued to be uncertain.」
Against the backdrop of the global spread of COVID-19, the company continues to describe the economic environment as difficult and the outlook as uncertain. - FY2021-Q3WorsenedAnnual report
「During the third quarter consolidated cumulative period (from 1 April 2020 to 31 December 2020), the Japanese economy remained in a difficult condition due to the global spread of COVID-19, and the outlook continued to be uncertain.」
In addition to the previous uncertainty concerning overseas conditions, the company described the economic environment as difficult and the outlook as uncertain due to the global spread of COVID-19. - FY2020WorsenedAnnual report
「During the consolidated fiscal year (from 1 April 2019 to 31 March 2020), the Japanese economy remained in an uncertain outlook amid heightened uncertainty surrounding US-China trade friction, the UK's withdrawal from the EU and the situation in the Middle East, as well as the spread of COVID-19.」
In addition to the previously disclosed uncertainty in overseas political and economic conditions, the company identified the spread of COVID-19 as a factor making the economic outlook uncertain. - FY2020-Q3Addition of external uncertaintyAnnual report
「During the third quarter consolidated cumulative period (from 1 April 2019 to 31 December 2019), the Japanese economy remained in an uncertain outlook amid heightened uncertainty surrounding US-China trade friction, the UK's withdrawal from the EU and the situation in the Middle East.」
In addition to the previous risks of US-China trade friction and the UK's withdrawal from the EU, the company explicitly identified uncertainty surrounding the situation in the Middle East as a factor affecting the economic outlook. - FY2020-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period (from 1 April 2019 to 30 September 2019), the Japanese economy remained in an uncertain outlook amid heightened uncertainty in overseas political and economic conditions, including US-China trade friction and the UK's withdrawal from the EU.」
The company continues to identify uncertainty in overseas conditions arising from US-China trade friction, the UK's withdrawal from the EU and other factors as risks to the economic outlook. - FY2020-Q1Addition of external uncertaintyAnnual report
「During the first quarter consolidated cumulative period (from 1 April 2019 to 30 June 2019), the Japanese economy was gradually recovering as corporate earnings and employment conditions improved. However, the outlook remained uncertain amid heightened uncertainty in overseas political and economic conditions, including US-China trade friction and the UK's withdrawal from the EU.」
In addition to the previously disclosed US-China trade friction, the company explicitly identified the UK's withdrawal from the EU as a source of uncertainty in overseas conditions. - FY2019-Q3First statedAnnual report
「Although the economy is gradually recovering as employment and income conditions improve, the economic outlook remains uncertain due to concerns over increasing uncertainty, including the intensification of trade friction between the United States, China and other countries.」
The company disclosed for the first time that intensifying trade friction between the United States, China and other countries was a source of uncertainty regarding the economic outlook.