Uncertainty in the External Environment Due to the Economic Slowdown in Emerging Markets and Asia and the UK's Departure from the EU
First written in FY2017-Q1. 14 of 29 entries say "Restated". Latest entry: FY2026-H1.
Fuji Seal International moved to the "Worse" side of this theme in 2021, 2 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
68 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, the outlook remained uncertain due to the destabilization of international conditions resulting from geopolitical tensions, persistently high raw-material and energy prices, and the impact of developments in U.S. tariff policy, among other factors.」
In addition to the previously cited geopolitical tensions and price volatility, the company explicitly identifies persistently high raw-material and energy prices and developments in U.S. tariff policy as factors contributing to uncertainty. - FY2025-H1Slowing inflation alongside geopolitical tensions and price volatilityAnnual report
「During the interim consolidated accounting period, the business environment surrounding the Group remained challenging. Global inflation, which had continued to rise, slowed and the economy showed a moderate recovery, but unstable international conditions resulting from heightened geopolitical tensions persisted, along with fluctuations in raw-material and product prices.」
The company describes slowing global inflation and an economic recovery, while stating that geopolitical tensions, unstable international conditions, and fluctuations in raw-material and product prices continued. - FY2024-Q3WorsenedAnnual report
「Although inflation slowed globally, the outlook remained uncertain as the prolonged Russia-Ukraine situation, instability in the Middle East, and fluctuations in raw-material, material and energy prices continued to have an impact.」
In addition to the previously cited Russia-Ukraine situation and price increases, the company explicitly identifies instability in the Middle East and fluctuations in material and energy prices as factors contributing to uncertainty. It also states that inflation had slowed. - FY2024-Q1RestatedAnnual report
「Meanwhile, the outlook remained uncertain due to rising prices caused by higher resource and raw-material prices resulting from the prolonged situation in Ukraine, as well as the impact of global monetary tightening on the economy.」
The company continues to cite uncertainty in the outlook due to the prolonged situation in Ukraine, higher resource and raw-material prices, rising prices, and global monetary tightening. - FY2023RestatedAnnual report
「Resource prices, including crude oil, continued to rise amid a rapid increase in post-COVID demand and Russia's invasion of Ukraine, and raw-material prices and logistics costs rose markedly. While economic conditions were again showing signs of stagnation, prices began to rise, and the outlook remained uncertain.」
The company continues to cite uncertainty due to post-COVID demand, the invasion of Ukraine, rising resource, raw-material and logistics costs, economic stagnation, and rising prices. - FY2023-Q3RestatedAnnual report
「In Western countries, raw-material and logistics costs rose markedly due to a rapid increase in post-COVID demand and higher resource prices, including crude oil, associated with Russia's invasion of Ukraine. Although economic conditions were showing signs of global stagnation due to the impact of monetary tightening originating in the United States, prices continued to rise and the outlook remained uncertain.」
The company continues to cite uncertainty in the outlook due to rising resource, raw-material and logistics costs, global economic stagnation, monetary tightening, and rising prices. - FY2023-Q2WorsenedAnnual report
「In Japan, the easing of restrictions on corporate activity and individual behavior resulting from COVID-19 had a positive impact on the economic recovery, but raw-material costs continued to rise due to a sharp increase in resource prices and yen depreciation. In Asia, which was heavily affected by COVID-19, the effects of labor shortages and delays in procuring raw materials remained, and orders and production activity recovered only moderately. Meanwhile, in Western countries, raw-material and logistics costs rose markedly due to a rapid increase in post-COVID demand and higher resource prices, including crude oil, associated with Russia's invasion of Ukraine. Although economic conditions were showing signs of global stagnation due to the impact of monetary tightening originating in the United States, prices continued to rise and the outlook remained uncertain.」
The company provides more detail on factors contributing to uncertainty in the external environment, including higher raw-material costs due to yen depreciation, labor shortages and procurement delays in Asia, global economic stagnation, monetary tightening, and rising prices. - FY2023-Q1WorsenedAnnual report
「Resource prices, including crude oil, continued to rise amid a rapid increase in post-COVID demand and Russia's invasion of Ukraine, and raw-material prices and logistics costs rose markedly. While economic conditions were showing signs of global stagnation, upward pressure on prices was strengthening, and the outlook remained uncertain.」
In addition to the previously cited impact of COVID-19 and rising resource prices, the company explicitly identifies Russia's invasion of Ukraine, global economic stagnation, and strengthening upward pressure on prices as factors contributing to uncertainty in the external environment. - FY2022-Q3RestatedAnnual report
「In Asia, where the impact of COVID-19 continued for an extended period, production activity was affected by labor shortages and delays in procuring raw materials. Meanwhile, despite the spread of COVID-19 variants in Western countries, third-dose vaccinations progressed and restrictions on corporate and individual activity were increasingly eased. Resource prices, including crude oil, continued to rise amid a rapid increase in post-COVID demand, and raw-material prices and logistics costs rose markedly. While economic conditions were again showing signs of stagnation, prices began to rise, and the outlook remained uncertain.」
The company continues to cite uncertainty due to COVID-19, labor shortages and procurement delays in Asia, rising resource prices, economic stagnation, and rising prices. - FY2022-Q2WorsenedAnnual report
「In Asia, where the spread of COVID-19 continued, production activity was affected by labor shortages and delays in procuring raw materials. Meanwhile, vaccination against COVID-19 progressed in developed countries, and restrictions on corporate and individual activity were increasingly eased. As the rapid increase in post-COVID demand led to an upward trend in crude oil and other resource prices, raw-material prices and logistics costs rose markedly. While economic conditions were again showing signs of stagnation, prices began to rise, and the outlook remained uncertain.」
In addition to the continuing impact of COVID-19, the company provides more detail on production impacts from labor shortages and delays in procuring raw materials in Asia, rising resource and raw-material prices and logistics costs, economic stagnation, and rising prices. - FY2022-Q1WorsenedAnnual report
「As the global spread of COVID-19 continued, economic conditions in Europe and Asia, where the Group has operations, again showed signs of stagnation. Although fiscal and monetary policies by governments and monetary authorities in each country provided support, the outlook remained uncertain.」
The company states that the continued spread of COVID-19 caused economic conditions in Europe and Asia to show signs of renewed stagnation. - FY2021-Q3WorsenedAnnual report
「During the third quarter of the current fiscal year, the business environment surrounding the Group remained unstable due to the continued global spread of COVID-19, despite support from fiscal and monetary policies by governments and monetary authorities in each country. In Japan, the resurgence of COVID-19 led the government to declare a state of emergency in 11 prefectures in early January, among other measures, and restrictions on corporate activity and individual behavior continued.」
The unstable external environment continued, with restrictions on corporate activity and individual behavior resulting from the resurgence of COVID-19 and the declaration of a state of emergency in 11 prefectures. - FY2021-Q2RestatedAnnual report
「The global spread of COVID-19 continued, and the economies of the United States, Europe and Asia, where the Group has operations, remained stagnant. Although fiscal and monetary policies by governments and monetary authorities in each country provided support, the outlook remained uncertain. The impact on the Group's business varied substantially by region and business segment.」
The company continues to cite economic stagnation and uncertainty in the outlook due to COVID-19, as well as differences in the impact by region and business segment. - FY2021-Q1MaterialisedAnnual report
「In Japan, the activities of companies and individuals were broadly restricted by the impact of COVID-19, significantly affecting the Japanese economy. Globally, the spread of COVID-19 continued, and the economies of the United States, Europe and Asia, where the Group has operations, were also deteriorating. Although fiscal and monetary policies by governments and monetary authorities in each country provided support, the outlook remained uncertain.」
In addition to the previously cited trade friction and political and policy uncertainty, restrictions on corporate activity caused by COVID-19 and the economic deterioration emerged as actual external-environment factors, and uncertainty in the outlook persisted. - FY2020-Q3MitigatedAnnual report
「Meanwhile, dialogue between the United States and China progressed regarding trade friction originating in the United States, and developments emerged that would avoid a further escalation of tensions. Although the recent economic slowdown continued, economic conditions were expected to improve somewhat toward the following year.」
The company describes expectations that progress in U.S.-China dialogue would prevent a further escalation of trade friction and that economic conditions would improve toward the following year, adding some positive factors to the uncertainty and slowdown trends cited previously. - FY2020-Q2WorsenedAnnual report
「Although the economies of the United States, Europe and Asia were slowing, the outlook remained uncertain due to developments in trade friction originating in the United States and rising uncertainty regarding monetary and fiscal policy, among other factors.」
In addition to the previously cited trade friction and policy uncertainty, the company states that the economy had begun to slow, indicating increased uncertainty in the external environment. - FY2020-Q1WorsenedAnnual report
「Although the economies of the United States, Europe and Asia were expanding or recovering, the outlook remained uncertain due to developments in trade friction originating in the United States and rising uncertainty regarding monetary and fiscal policy, among other factors.」
In addition to the previously cited trade friction originating in the United States, the company explicitly identifies rising uncertainty regarding monetary and fiscal policy as a factor contributing to uncertainty in the outlook. - FY2019RestatedAnnual report
「However, the outlook remained uncertain due to the impact of trade friction originating in the United States and rising political risks in the West, among other factors.」
The company continues to cite uncertainty due to trade friction originating in the United States and political risks in the West. - FY2019-Q3RestatedAnnual report
「The United States and ASEAN continued to experience moderate economic expansion, while the European economy showed signs of a slight slowdown. In addition, the outlook remained uncertain due to trade friction originating in the United States and rising political risks in the West, among other factors.」
The company continues to cite the slight slowdown in the European economy, trade friction originating in the United States, and political risks in the West as sources of uncertainty in the outlook. - FY2019-Q2RestatedAnnual report
「The United States and Europe continued to experience moderate economic expansion, supported by improving employment and firm personal consumption, while the ASEAN economy remained stable. Meanwhile, the outlook remained uncertain due to trade friction originating in the United States and rising political risks in the West, among other factors.」
The company continues to cite uncertainty in the outlook due to trade friction originating in the United States and political risks in the West. - FY2019-Q1WorsenedAnnual report
「Although the economies of the United States, Europe and Asia were recovering, the outlook remained uncertain due to trade friction originating in the United States and rising political risks in the West, among other factors.」
In addition to the previously cited political risks in the West and other factors, the company explicitly identifies trade friction originating in the United States as a factor contributing to uncertainty in the outlook. - FY2018RestatedAnnual report
「Meanwhile, the outlook remained uncertain due to rising political risks in the West and geopolitical risks in Asia, among other factors.」
The company continues to cite uncertainty in the outlook due to political risks in the West and geopolitical risks in Asia. - FY2018-Q3RestatedAnnual report
「Although personal consumption remained firm and the economies of the United States, Europe and Asia were recovering, the outlook remained uncertain due to rising political risks in the West and geopolitical risks in Asia, among other factors.」
The company continues to cite uncertainty in the outlook due to political risks in the West and geopolitical risks in Asia. - FY2018-Q2RestatedAnnual report
「During the second quarter of the current fiscal year, the business environment surrounding the Group in Japan remained on a moderate recovery trend, supported by improvements in corporate earnings and employment and income conditions. The economies of the United States, Europe and Asia were also recovering, supported by firm personal consumption, but the outlook remained uncertain due to rising political risks in the West and geopolitical risks in Asia, among other factors.」
The company continues to cite uncertainty in the outlook due to political risks in the West and geopolitical risks in Asia. - FY2018-Q1WorsenedAnnual report
「Although the economies of the United States, Europe and Asia were recovering, the outlook remained uncertain due to rising political risks in the West and geopolitical risks in Asia, among other factors.」
The company newly highlights rising political risks in the West and geopolitical risks in Asia as factors contributing to uncertainty in the external environment. - FY2017RestatedAnnual report
「However, the outlook remained uncertain due to uncertainty in the global economy, including the issue of the UK's withdrawal from the EU, the inauguration of a new U.S. administration, and economic trends in emerging Asian countries, including China.」
The company continues to cite the UK's withdrawal from the EU, the new U.S. administration, and trends in emerging Asian countries, including China, as sources of uncertainty in the global economy. - FY2017-Q3RestatedAnnual report
「However, the outlook remains uncertain due to the economic policies of the new U.S. administration and the economic slowdown in emerging markets, among other factors.」
The company continues to identify the economic policies of the new U.S. administration and the economic slowdown in emerging markets as factors contributing to uncertainty in the outlook. - FY2017-Q2RestatedAnnual report
「The economic climate in the United States remained firm, while the European economy, despite the issue of the UK's withdrawal from the EU, also showed a gradual recovery trend. The ASEAN economy showed signs of recovery, but uncertainty persisted.」
The company continues to cite the issue of the UK's withdrawal from the EU in Europe and uncertainty in ASEAN as external-environment factors. - FY2017-Q1First statedAnnual report
「However, the outlook remains uncertain due to the economic slowdown in emerging markets, the UK's decision to withdraw from the EU, and the strengthening yen trend since the beginning of the year.」
The company identifies the emerging-market economy, the UK's withdrawal from the EU, and yen appreciation as factors contributing to uncertainty in the external environment. The UK's decision to withdraw from the EU is described as an event that occurred during the period.