Deterioration in Economic and Supply Conditions Due to the Situation in Ukraine, Surging Energy Prices and Other Factors
First written in FY2023-Q1. 3 of 7 entries say "Restated". Latest entry: FY2025-H1.
The whole theme swung hardest in 2025: 45 of 80 companies on the "Worse" side.
50 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period under review, high interest-rate levels continued, particularly in the United States, amid high inflation. In the United States, the economy recovered moderately, supported by solid personal consumption. In Europe, the economy was moving toward recovery against a backdrop of lower inflation. In China, personal consumption was broadly flat amid continued weakness in the real estate market, and the economy remained stagnant.」
The company continued to cite high interest-rate levels resulting from high inflation, weakness in China’s real estate market and economic stagnation as external conditions. Its description of Europe changed to indicate a recovery against a backdrop of lower inflation. - FY2024-Q3Persistently high inflation and monetary tightening, and China’s economic slowdownAnnual report
「During the third quarter of the fiscal year under review, monetary tightening continued in each country amid high inflation, creating concerns about an economic slowdown. In the United States, the economy recovered moderately, supported by solid personal consumption. In Europe, the economy was weakening, while in China it slowed due to a decline in real estate development investment and weak personal consumption.」
Regarding the external environment, the company described high inflation and continued monetary tightening in each country, the weakening European economy and China’s economic slowdown. The description of the factors slowing the economy has shifted from the previous focus on the situation in Ukraine and semiconductor shortages. - FY2024-Q2RestatedAnnual report
「During the second quarter of the fiscal year under review, monetary tightening continued in each country amid high inflation. In the United States, the economy recovered moderately, supported by increased capital investment and solid personal consumption. In Europe, the economic recovery showed signs of stalling. In China, the economy slowed due to a decline in real estate development investment and weak personal consumption.」
The company again cited high inflation and continued monetary tightening in each country, the stalled European economy and China’s economic slowdown as external conditions. No material change in conditions from the previous quarter is indicated. - FY2024-Q1Persistently high inflation and monetary tightening, and China’s economic slowdownAnnual report
「During the first quarter of the fiscal year under review, monetary tightening continued in each country amid high inflation. In the United States, the economy recovered moderately, supported by increased capital investment and solid personal consumption. In Europe, the economic recovery showed signs of stalling. In China, the economy slowed due to a decline in real estate development investment and weak personal consumption.」
Regarding the external environment, the company described continued high inflation and monetary tightening in each country, the stalled European economy and China’s economic slowdown. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the pace of the global economic recovery slowed due to higher resource prices resulting from the situation in Ukraine, higher interest rates caused by monetary tightening by central banks in major countries, and semiconductor shortages that continued in some areas.」
The company states that external-environment risks, including higher resource prices, higher interest rates and semiconductor shortages, are continuing. No new material changes or resolution of risks are indicated. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the pace of the global economic recovery slowed due to surging energy prices resulting from the continued deterioration of the situation in Ukraine, the prolonged semiconductor shortage and global supply chain disruption caused by the Shanghai lockdown.」
Regarding the external-environment risks described in the previous quarter, the company described the continued and prolonged effects of the worsening situation in Ukraine, surging energy prices, prolonged semiconductor shortages and supply chain disruptions. - FY2023-Q1First statedAnnual report
「During the first quarter of the fiscal year under review, the global economy slowed its pace of recovery due to the surge in energy prices resulting from the worsening situation in Ukraine, shortages of components, particularly semiconductors, and global supply chain disruptions exacerbated by the Shanghai lockdown.」
For the first time, the company comprehensively described the worsening situation in Ukraine, surging energy prices, component shortages and global supply chain disruptions, including the Shanghai lockdown, as external conditions slowing the economic recovery.