Geopolitical Risks in Overseas Operations
First written in FY2018. 10 of 17 entries say "Worsened", first in FY2022. Latest entry: 2026-11-13.
This thread is not in a theme yet. When the same subject shows up in other companies' filings, you can compare them here.
- FY2026-H1WorsenedAnnual report
「In addition to growing protectionism, including a deterioration in the US economy and higher tariffs, geopolitical risks remain high, including conflicts in the Middle East and tensions in East Asia, and the outlook remains uncertain.」
For geopolitical risk, the company lists worsening economic conditions in the United States, higher tariffs and protectionism, conflicts in the Middle East, and tensions in East Asia as new specific factors. - FY2025WorsenedAnnual report
「During the current fiscal year, Japan's economy showed a moderate recovery trend as the income environment improved, but the outlook remained uncertain amid concerns about growing geopolitical risks, including sharp changes in share prices and exchange rates, US tariff policy and conflicts in the Middle East.」
In addition to the previously identified international situation and geopolitical risks, we explicitly identify sharp changes in share prices and exchange rates, US tariff policy and conflicts in the Middle East as new factors contributing to uncertainty. - FY2025-H1WorsenedAnnual report
「During the current interim accounting period, the economy showed a moderate recovery trend as the income environment improved, while uncertainty about the outlook increased amid concerns about sharp changes in share prices and exchange rates and growing geopolitical risks.」
We state that, despite the economic recovery, uncertainty about the outlook increased due to sharp changes in share prices and exchange rates and growing geopolitical risks. - FY2024RestatedAnnual report
「During the current fiscal year, Japan's macroeconomic environment saw economic activity normalise as COVID-19 was lowered to Category 5 under the Infectious Diseases Act, while the services industry and inbound demand increased. However, the domestic economic outlook remains uncertain, as international instability, continued yen depreciation and higher raw-material costs are putting pressure on retail prices.」
While indicating the normalisation of economic activity and an increase in inbound demand, we reconfirm uncertainty arising from international conditions, yen depreciation and higher raw-material costs. - FY2024-Q3RestatedAnnual report
「Although the effects of COVID-19 on demand and supply were gradually easing during the cumulative third quarter, uncertainty intensified due to rising consumer prices, concerns about an economic slowdown associated with changes in monetary policy in various countries, and growing geopolitical risks.」
We reconfirm growing geopolitical risks, together with rising consumer prices and concerns about an economic slowdown associated with changes in monetary policy, as factors contributing to uncertainty in the macroeconomic environment. - FY2024-Q2WorsenedAnnual report
「Meanwhile, the outlook for the economy remains uncertain due to fuel costs associated with fluctuations in foreign exchange rates and persistently high crude oil prices, soaring raw material prices and growing geopolitical risks.」
We explicitly state that geopolitical risks are increasing and identify them, together with exchange-rate fluctuations, persistently high crude oil prices, and soaring fuel and raw-material prices, as factors contributing to uncertainty about the economic outlook. - FY2024-Q1WorsenedAnnual report
「During the cumulative first quarter, Japan's economy began to recover as COVID-19 was reclassified under Category 5, but uncertainty about the outlook continued, with concerns that the protracted Russia-Ukraine situation would cause soaring raw-material prices and affect supply.」
We continue to give concrete form to concerns that the protracted Russia-Ukraine situation will lead to soaring raw-material prices and affect supply, identifying them as factors contributing to uncertainty about the economic outlook. - FY2023WorsenedAnnual report
「During the current fiscal year, Japan's economy began to normalise economic activity as restrictions on movement associated with COVID-19 were eased and restrictions on entry from overseas were relaxed. However, the economic outlook remained uncertain, with raw-material and resource prices rising as the situation in Ukraine became protracted and exchange rates fluctuated sharply.」
In addition to the protracted situation in Ukraine, we identify rising resource and raw-material prices caused by sharp exchange-rate fluctuations, continuing to give concrete form to the economic impact of geopolitical risks. - FY2023-Q1WorsenedAnnual report
「The situation in Ukraine appears likely to continue for an extended period, and continued close monitoring is required in light of the impact on the domestic economy of soaring raw material prices and the sharp depreciation of the yen.」
We state that the situation in Ukraine appears likely to be prolonged and explicitly identify the sharp depreciation of the yen as a factor affecting the domestic economy. - FY2022WorsenedAnnual report
「Although vaccination progressed and economic activity gradually began to normalise as the impact of the spread of COVID-19 continued, conditions remained difficult to view optimistically, owing to the threat of new variants, the impact of a global shortage of materials and the situation in Ukraine.」
In addition to previously identified geopolitical risks, we explicitly mention the situation in Ukraine and identify it, together with the global shortage of materials, as a factor contributing to uncertainty in the economic environment. - FY2020-Q3RestatedAnnual report
「Uncertainty about the outlook continued due to overseas economic trends, repeated natural disasters including typhoons and torrential rain, and the impact of the consumption tax increase from October.」
Trends in overseas economies continue to be identified as a factor contributing to uncertainty about the economic outlook. No specific country, policy or impact amount is indicated. - FY2019MaterialisedAnnual report
「The effects of trade policies in various countries and a slowdown in overseas economies are beginning to spread to Japan,」
Regarding overseas geopolitical and trade-related risks, the description has progressed from concerns about a trade war to the situation in which the effects of a slowdown in overseas economies and other factors are beginning to spread to Japan. - FY2019-Q2Giving concrete form to concerns about a trade war arising from US trade policyAnnual report
「During the cumulative second quarter, the Japanese economy remained on a moderate recovery trend, but the outlook for the economy remained uncertain due to concerns about a trade war arising from US trade policy.」
Regarding overseas geopolitical risks, we identify concerns about a trade war arising from US trade policy as a specific factor and describe the resulting uncertainty about the economic outlook. - FY2018First statedAnnual report
「Meanwhile, geopolitical risks overseas have become apparent.」
We explicitly identify overseas geopolitical risks for the first time as a risk related to the economic environment during the current fiscal year.