Uncertainty in Emerging Asian Economies and Volatility in Financial and Capital Markets
First written in FY2018-Q3. 13 of 26 entries say "Worsened", first in FY2020. Latest entry: 2026-10-15.
Kowa moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 160 of 184 companies on the "Worse" side.
84 other companies' latest entry also says "Worsened".
- 2026-10-15WorsenedFinancial results
「Meanwhile, uncertainty surrounding overseas economies remains high, owing to geopolitical risks including U.S. trade policy, trends in financial and capital markets, and the situation in the Middle East, and the outlook for the economy remains uncertain.」
従来の金融資本市場・地政学的リスクに加え、米国の通商政策を不確実性の要因として記載している。 - FY2027-H1WorsenedAnnual report
「Meanwhile, uncertainty surrounding overseas economies remains high, owing to geopolitical risks including U.S. trade policy, trends in financial and capital markets, and the situation in the Middle East, and the outlook for the economy remains uncertain.」
U.S. trade policy is cited as an additional source of uncertainty alongside the existing financial and capital market and geopolitical risks. - 2026-07-15WorsenedFinancial results
「Meanwhile, the economic outlook remains uncertain due to risks including the impact of U.S. trade policy, the situation in the Middle East, sluggish personal consumption caused by inflation resulting from persistently high resource and raw material prices, and fluctuations in foreign exchange rates.」
In addition to existing geopolitical, resource price, and foreign exchange risks, the Company identified U.S. trade policy and sluggish personal consumption as factors contributing to uncertainty. - FY2026WorsenedAnnual report
「Although the economy is on a gradual recovery trend, uncertainty about the outlook is expected to continue due to changes in interest rate trends accompanying the normalization of monetary policy, foreign exchange market volatility, persistently high energy and logistics costs, rising labor costs, efforts to rebuild supply chains, and the impact of geopolitical risks including the situations in the Middle East and Ukraine.」
In addition to the previous yen depreciation, high energy and logistics costs, and geopolitical risks, the document adds interest rate trends, rising labor costs, and supply chain restructuring as sources of uncertainty. - 2026-04-14WorsenedFinancial results
「Looking ahead, the business environment requiring measures to address profitability is expected to continue, amid the weaker yen, persistently high energy and logistics costs, and rising resource prices.」
In addition to the previously cited Middle East situation, weaker yen, and energy and logistics costs, the Company identified geopolitical risks centered on U.S. attacks on Iran and rising resource prices as factors contributing to uncertainty. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period under review, uncertainty continued in Japan due to factors including the conduct of monetary policy following the lifting of the negative interest rate policy, the prolonged depreciation of the yen, and persistently high energy and logistics costs.」
In addition to the longstanding yen depreciation and persistently high energy prices, the document identifies the conduct of monetary policy following the lifting of the negative interest rate policy and persistently high logistics costs as sources of uncertainty. - FY2025-H1RestatedAnnual report
「However, uncertainty about the economic outlook continues, including heightened geopolitical risks such as tensions in the Middle East and price increases caused by yen depreciation and persistently high energy prices, leaving the situation difficult to predict.」
The document describes geopolitical risks, including the situation in the Middle East, price increases caused by yen depreciation, and price increases due to persistently high energy prices as continuing sources of uncertainty in the economic environment. - FY2025-Q1RestatedAnnual report
「Many sources of uncertainty remain, including heightened geopolitical risks such as tensions in the Middle East and price increases caused by yen depreciation and persistently high energy prices, and uncertainty continues.」
The document continues to describe uncertainty resulting from the situation in the Middle East, yen depreciation, persistently high energy prices, and price increases. - FY2024WorsenedAnnual report
「The domestic economic environment remains uncertain, including the prolonged Russia-Ukraine situation, heightened tensions in the Middle East, and concerns about an economic slowdown caused by global monetary tightening.」
In addition to the previous uncertainty surrounding the situation in Ukraine and financial markets, the document adds heightened tensions in the Middle East and concerns about an economic slowdown caused by global monetary tightening. - FY2024-Q3RestatedAnnual report
「However, uncertainty about the outlook continues as raw material and energy prices remain high, prices continue to rise due to yen depreciation, and financial and capital market volatility persists.」
Uncertainty resulting from soaring raw material and energy prices, price increases caused by yen depreciation, and volatility in financial and capital markets continues to be disclosed. - FY2024-Q2RestatedAnnual report
「However, uncertainty about the outlook continues amid ongoing global monetary tightening, soaring energy and raw material prices, including electricity prices, and volatility in financial and capital markets.」
Uncertainty resulting from monetary tightening, soaring energy and raw material prices, and volatility in financial and capital markets continues to be disclosed. - FY2024-Q1WorsenedAnnual report
「Although the economy was affected by surging energy prices resulting from the prolonged Russia-Ukraine conflict and unprecedented price increases, signs of a recovery centered on personal consumption were seen as social activities moved toward normalization, including inbound demand following the reclassification of COVID-19 under the Infectious Diseases Control Law as a Category V disease and nationwide travel subsidies. However, uncertainty continues due to the prolonged depreciation of the yen resulting from foreign exchange trends and concerns about the outlook for financial conditions.」
The document describes the prolonged Russia-Ukraine conflict, unprecedented price increases, the prolonged depreciation of the yen, and concerns about the outlook for financial conditions, indicating that sources of uncertainty are continuing and becoming more specific. - FY2023-Q3WorsenedAnnual report
「During the cumulative consolidated third quarter under review, Japan’s economy was expected to recover as restrictions on economic activity were eased in response to COVID-19 countermeasures. However, the recovery lacked strength because the rapid depreciation of the yen and soaring raw material and crude oil prices pushed up prices. The outlook remains uncertain due to risks including a renewed spread of COVID-19, the situation in Ukraine, and inflation resulting from further yen depreciation.」
In addition to the previous risks related to infectious diseases and the situation in Ukraine, the document describes the rapid depreciation of the yen, price increases caused by soaring raw material and crude oil prices, a renewed spread of infectious diseases, and inflation risks. - FY2023-Q2WorsenedAnnual report
「Uncertainty about the outlook continues due to surging crude oil and raw material prices resulting from the situation in Ukraine and volatility in foreign exchange markets caused by the rapid depreciation of the yen.」
In addition to surging crude oil and raw material prices associated with the situation in Ukraine, the document identifies volatility in foreign exchange markets caused by the rapid depreciation of the yen as a source of uncertainty. - FY2023-Q1WorsenedAnnual report
「Uncertainty about the outlook continues due to higher raw material and crude oil prices resulting from the situation in Ukraine, as well as volatility in financial and capital markets.」
In addition to the previous uncertainty in the economy and financial markets, the document identifies further increases in raw material and crude oil prices against the backdrop of the situation in Ukraine as sources of uncertainty. - FY2022WorsenedAnnual report
「Overseas as well, the spread of COVID-19 shows no sign of subsiding, and unprecedented uncertainty about the outlook continues due to the global semiconductor shortage and Russia’s invasion of Ukraine, among other factors.」
In addition to the previous uncertainty in overseas economies and financial markets, the document identifies the global semiconductor shortage and Russia’s invasion of Ukraine as new sources of uncertainty. - FY2022-Q3Addition of semiconductor shortages, higher crude oil prices, and new variantsAnnual report
「During the cumulative consolidated third quarter under review, many activities in Japan were restricted by the COVID-19 pandemic, and the domestic economy remained somewhat stagnant due to the impact of semiconductor supply shortages and soaring crude oil prices, among other factors.」
In addition to the previous uncertainty in overseas economies and financial markets, the document describes the impact of semiconductor supply shortages and soaring crude oil prices on the domestic economy. - FY2020WorsenedAnnual report
「In addition to the impact of uncertainty regarding the outlook for the economies and policies of China and other emerging Asian economies and the impact of volatility in financial and capital markets, uncertainty about the outlook continues, as the global spread of the novel coronavirus, which has been widely reported since late January 2020, shows no sign of subsiding and a prolonged economic downturn is expected.」
In addition to the previous risks related to overseas economies and financial markets, the document adds the global spread of the novel coronavirus and the outlook for a prolonged economic downturn. - FY2020-Q3Addition of consumption tax increases and the United Kingdom’s EU withdrawal issueAnnual report
「In addition to trends in overseas economies and the impact of volatility in financial and capital markets, there are concerns about the impact of uncertain economic conditions, including US-China trade friction and the United Kingdom’s EU withdrawal issue, and uncertainty about the outlook continues.」
In addition to overseas economies, financial and capital markets, and US-China trade friction, the United Kingdom’s EU withdrawal issue is identified as a source of uncertainty. The document also describes the impact of a consumption tax increase on domestic personal consumption and the impact of natural disasters. - FY2020-Q2RestatedAnnual report
「Meanwhile, uncertainty about the outlook continues, including the impact of trade issues on the global economy, uncertainty in overseas economies, the impact of volatility in financial and capital markets, and the economic impact of a succession of natural disasters.」
Uncertainty in overseas economies, volatility in financial and capital markets, trade issues, and the economic impact of natural disasters continue to be cited as concerns. - FY2019RestatedAnnual report
「Although the global economy is gradually recovering, there are concerns about the impact of uncertainty regarding the outlook for the economies and policies of China and other emerging Asian economies, as well as the impact of volatility in financial and capital markets.」
Uncertainty in the economies and policies of emerging Asian countries and volatility in financial and capital markets continue to be identified as risks. - FY2019-Q3RestatedAnnual report
「Meanwhile, uncertainty about the outlook continues, including the impact of trade issues on the global economy, uncertainty in overseas economies, the impact of volatility in financial and capital markets, and the economic impact of a succession of natural disasters.」
While concerns about uncertainty in overseas economies and volatility in financial and capital markets are maintained, the economic impact of trade issues and natural disasters continues to be cited. - FY2019-Q2RestatedAnnual report
「Meanwhile, uncertainty about the outlook continues, including the impact of trade issues on the global economy, uncertainty in overseas economies, the impact of volatility in financial and capital markets, and the economic impact of a succession of natural disasters.」
While the previous concerns regarding uncertainty in overseas economies and volatility in financial and capital markets are maintained, the document also lists trade issues and the economic impact of natural disasters. It also states that there have been no significant changes in business and other risks. - FY2019-Q1RestatedAnnual report
「Although the global economy is gradually recovering, there are concerns about the impact of uncertainty regarding the outlook for the economies and policies of China and other emerging Asian economies, as well as the impact of volatility in financial and capital markets.」
Uncertainty in the economies and policies of emerging Asian countries and volatility in financial and capital markets continue to be cited as concerns. - FY2018RestatedAnnual report
「Although the global economy is gradually recovering, there are concerns about the impact of uncertainty regarding the outlook for the economies and policies of China and other emerging Asian economies, as well as the impact of volatility in financial and capital markets.」
Uncertainty in the economies and policies of emerging Asian countries and volatility in financial and capital markets continue to be described as risks. - FY2018-Q3First statedAnnual report
「Although the global economy is gradually recovering, there are concerns about the impact of uncertainty surrounding the outlook and policies of China and other emerging Asian economies, as well as the impact of volatility in financial and capital markets.」
Uncertainty in overseas economies and policies, as well as volatility in financial and capital markets, are identified as concerns.