Risk of uncertainty over the economic outlook due to the Russia-Ukraine conflict and other factors
First written in FY2022. 2 of 5 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2025: 22 of 48 companies on the "Worse" side.
11 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「Going forward, we recognize that conditions are likely to remain uncertain due to factors including declining exports resulting from a slowdown in the U.S. and European economies, deterioration in corporate earnings caused by higher raw material prices and energy costs, and stagnation in the automobile industry due to shortages of automotive semiconductors.」
References to developments in Russia and Ukraine and China's lockdowns, which had been explicitly disclosed through the previous quarter, were absent from the description of the operating environment and future factors for the current fiscal year, with the focus shifting to the Western economies, rising costs, and shortages of automotive semiconductors. - FY2023-Q3RestatedAnnual report
「Although capital investment and production activity showed signs of recovery, the economic outlook remained uncertain due to downside risks, including the status of COVID-19 infections, the depreciation of the yen, soaring prices, the Russia-Ukraine situation, and difficulties procuring components, production cuts and suspension of operations at automobile plants caused by China's lockdowns.」
Downside risks to the economy, including developments in Russia and Ukraine, were disclosed as in the previous quarter, together with yen depreciation, soaring prices, difficulties in procuring parts, and reduced production or shutdowns at automotive plants. - FY2023-Q2RestatedAnnual report
「The economic outlook remained uncertain due to downside risks, including the spread of COVID-19, the ongoing depreciation of the yen, soaring prices, developments in Russia and Ukraine, and difficulties in procuring parts and reduced production or shutdowns at automotive plants resulting from China's lockdowns.」
The same factors as in the previous quarter continued to be disclosed as downside risks to the economy, including developments in Russia and Ukraine. - FY2023-Q1WorsenedAnnual report
「The economic outlook remained uncertain due to downside risks, including the spread of COVID-19, the ongoing depreciation of the yen, soaring prices, developments in Russia and Ukraine, and difficulties in procuring parts and reduced production or shutdowns at automotive plants resulting from China's lockdowns.」
Regarding risks of uncertainty over the outlook, including developments in Russia and Ukraine, the disclosure identified specific impact factors in addition to yen depreciation and soaring prices, namely difficulties in procuring parts and reduced production or shutdowns at automotive plants resulting from China's lockdowns. - FY2022First statedAnnual report
「Looking ahead, the Company recognises that the economic outlook is likely to remain uncertain due to the impact of COVID-19, the Russia-Ukraine conflict and other factors.」
Russia-Ukraine conflict was newly identified, in addition to the existing COVID-19 pandemic, as a factor contributing to uncertainty over the economic outlook.