Market and Foreign-Exchange Volatility Associated with Economic Downturns in Emerging Asian Economies and the UK's Withdrawal from the EU
First written in FY2017-Q1. 6 of 30 entries say "Worsened", first in FY2018-Q2. Latest entry: FY2026-H1.
YAMATO Mobility & Mfg. moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2026-H1MaterialisedAnnual report
「In the synthetic resin molding-related business, the domestic business remained solid, but overseas sites continued to face a challenging business environment due to factors including weak consumption in the Chinese economy and the impact of US trade policy.」
Regarding the previously identified concerns over the Chinese economy and US policy developments, the impact on performance is described as a challenging business environment at overseas sites. - FY2025Explicitly identified US policy and geopolitical risks in addition to the slowdown in ChinaAnnual report
「Overseas, the outlook remained uncertain due to the slowdown in the Chinese economy, concerns over the impact of US policy developments and the prolonged geopolitical risks surrounding Russia and Ukraine and the Middle East.」
In addition to the previously cited risks involving China and geopolitics, concerns over the impact of US policy developments are explicitly identified, while the slowdown in the Chinese economy continues to be cited as a contributing factor. - FY2025-H1Explicitly identified a sense of economic slowdown resulting from weak domestic demand in ChinaAnnual report
「Amid the continued sense of economic slowdown resulting from weak domestic demand in China」
The continued weakness in domestic demand and the resulting sense of economic slowdown in China were explicitly identified as factors contributing to uncertainty in overseas economies. - FY2024-Q3Added worsening conditions in the Middle East as an overseas and geopolitical riskAnnual report
「The outlook remains uncertain due to the protracted Russia-Ukraine issue and worsening conditions in the Middle East.」
Worsening conditions in the Middle East have been added to the existing uncertainty in the overseas economy and geopolitical uncertainty arising from issues including Russia and Ukraine. - FY2024-Q2RestatedAnnual report
「The outlook remains uncertain due to the impact of rapid yen depreciation on the domestic economy, rising domestic prices resulting from higher energy and resource costs, and the protracted Russia-Ukraine issue.」
Uncertainty in the overseas and international environment due to yen depreciation, soaring costs and the protracted Russia-Ukraine issue continues to be cited. - FY2024-Q1Continued to cite the protracted conflict, elevated material and energy prices and supply chain issuesAnnual report
「Material prices and other costs continued to rise, and energy prices remained high against the backdrop of the protracted Russia-Ukraine situation. Together with increased inventories in parts of the supply chain during the spread of COVID-19, this resulted in continued uncertainty over the outlook.」
Regarding the overseas and international environment, the protracted Russia-Ukraine situation continues to be cited, along with high material and energy prices and supply chain issues involving increased inventories during the infectious disease outbreak, as factors contributing to uncertainty. - FY2023-Q3Added the economic impact of the sharp increase in COVID-19 cases in ChinaAnnual report
「The outlook for the global economy also remains uncertain due to factors including the protracted Russia-Ukraine conflict and the impact on economic conditions of the sharp increase in COVID-19 cases in China.」
In addition to the protracted Russia-Ukraine conflict, the impact on economic conditions of the sharp increase in COVID-19 cases in China was explicitly identified as a factor contributing to uncertainty in overseas economies. - FY2023-Q2RestatedAnnual report
「As the impact of COVID-19 continued, the outlook remained uncertain due to factors including the protracted Russia-Ukraine conflict, soaring raw material prices and rapid yen depreciation.」
Uncertainty in the overseas and international environment continues, including the protracted conflict, soaring raw material prices and rapid yen depreciation. - FY2023-Q1Explicitly identified restrictions on economic activity in China, the protracted conflict and yen depreciation as factors contributing to uncertainty in overseas economiesAnnual report
「During the cumulative first quarter under review, Japan's economy showed signs of normalization as restrictions on activity related to COVID-19 were eased. However, the outlook remained uncertain amid concerns over the impact of restrictions on economic activity in China and the prolonged Russia-Ukraine conflict, as well as rising raw material and crude oil prices and the rapid depreciation of the yen.」
In addition to the existing overseas economic and geopolitical risks, restrictions on economic activity in China, the protracted Russia-Ukraine conflict and yen depreciation are explicitly identified as factors contributing to uncertainty during the quarter. - FY2022WorsenedAnnual report
「However, the international situation became increasingly tense due to the Russia-Ukraine conflict and soaring raw material and crude oil prices, further complicating the economic environment. In addition, China implemented city lockdowns and tightened activity restrictions under its zero-COVID policy, causing uncertainty about the outlook to increase further.」
In addition to the previously cited risks involving infectious diseases and overseas economies, the Russia-Ukraine conflict and lockdowns and activity restrictions resulting from China's zero-COVID policy were explicitly identified as factors contributing to uncertainty in overseas economies. - FY2022-Q3Explicitly identified yen depreciation as a factor contributing to uncertainty in overseas economies and financial marketsAnnual report
「However, the outlook remains uncertain due to the spread of the Omicron variant since the end of the year, high crude oil prices, yen depreciation and soaring prices for various materials.」
In addition to the previously cited infectious diseases and uncertainty in overseas economies, yen depreciation is explicitly identified as a factor affecting financial and foreign exchange conditions. - FY2022-Q1Explicitly identified concerns over the spread of variantsAnnual report
「Although there were also positive developments, including the start of vaccinations in Japan and overseas and signs of improvement in some economic activities, the outlook remains uncertain amid concerns over the spread of new variants.」
While vaccinations and the recovery of economic activity in Japan and overseas are cited, the spread of new variants is explicitly identified as a factor contributing to uncertainty over the outlook, including overseas. - FY2021RestatedAnnual report
「With various restrictions on activity continuing amid the renewed spread of infectious diseases in Japan and overseas, including outside the country, economic conditions are expected to remain uncertain.」
The renewed spread of infectious diseases in Japan and overseas, including outside the country, and policy and activity restrictions continue to be cited as factors contributing to uncertainty in overseas economies. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter under review, Japan's economy was in an extremely difficult situation, as declines in corporate earnings and worsening employment conditions caused by the spread of COVID-19 in Japan and overseas continued. Although signs of a recovery in recent economic activity emerged as economic activity resumed, the outlook remained uncertain as infections spread again.」
Infectious diseases are spreading again in Japan and overseas, and their impact on corporate earnings and the employment environment, as well as uncertainty over the outlook, continues. - FY2021-Q1Explicitly identified infectious diseases, policy and financial market volatilityAnnual report
「However, economic conditions in Japan and overseas continue to entail downside risks, and it remains necessary to continue monitoring changes in the situation surrounding infectious diseases, policy developments in various countries and fluctuations in financial markets.」
In addition to the previously cited uncertainty in overseas economies and trade friction, changes in the situation surrounding infectious diseases, policy developments in various countries and financial market volatility are explicitly identified as downside risks in Japan and overseas. - FY2020WorsenedAnnual report
「Overseas, the global economy continues to show signs of slowing due to the impact of US-China trade friction」
The continued slowdown in the global economy associated with US-China trade friction is cited, making the risks facing overseas economies more specific. - FY2020-Q3Explicitly identified concerns over the outlook for the Chinese economyAnnual report
「Meanwhile, the outlook for the global economy remains uncertain due to the impact of the US-China trade issue, concerns over the outlook for the Chinese economy and the UK's withdrawal from the EU.」
In addition to the US-China trade issue and the UK's withdrawal from the EU, concerns over the outlook for the Chinese economy are explicitly identified as a factor contributing to uncertainty in overseas economies. - FY2020-Q2WorsenedAnnual report
「The impact of rising tensions surrounding trade issues between the United States and China on the global economy」
Regarding the US-China trade issue, which had been cited previously, rising tensions between the two countries and the impact on the global economy are explicitly identified, emphasizing the factors contributing to uncertainty in overseas economies. - FY2020-Q1WorsenedAnnual report
「The outlook is uncertain due to concerns over a slowdown in the global economy and deteriorating business sentiment in the manufacturing sector resulting from the impact of US-China trade friction.」
The previously identified US-China trade friction is now linked to concerns over a slowdown in the global economy and deteriorating business sentiment in the manufacturing sector, making the uncertainty more specific. - FY2019-Q3Explicitly identified US-China trade friction and the UK's withdrawal from the EUAnnual report
「Overseas, the outlook remains uncertain due to trade friction between the United States and China and issues surrounding the UK's withdrawal from the EU.」
Trade friction between the United States and China and the UK's withdrawal from the EU are explicitly identified as factors contributing to uncertainty in overseas economies. - FY2019-Q2Expanded the issues involving overseas economic and policy risksAnnual report
「The outlook remained uncertain due to US political and economic developments, concerns over protectionist policies in various countries and slower growth in China and other emerging economies.」
In addition to the slowdown in the Chinese and other emerging-market economies and developments in the United States, concerns over protectionist policies in various countries are cited as factors contributing to uncertainty in overseas economies. - FY2019-Q1RestatedAnnual report
「Regarding overseas economies, the outlook remains uncertain due to economic trends in China and emerging Asian countries, the impact of geopolitical risks and concerns over trade friction resulting from US trade policy.」
Economic trends in China and emerging Asia, geopolitical risks and trade friction resulting from US trade policy continue to be cited as factors contributing to uncertainty in overseas economies. - FY2018Expanded the factors contributing to overseas uncertaintyAnnual report
「However, the outlook remains uncertain due to the slowdown in the economies of emerging countries such as China, growing instability in Europe, the Middle East and North Korea, and concerns over trade friction resulting from US trade policy.」
In addition to emerging-market economies and North Korea, the situation in Europe and the Middle East and concerns over trade friction resulting from US trade policy are cited as factors contributing to uncertainty. - FY2018-Q3Reorganized the overseas risk factorsAnnual report
「During the cumulative third quarter under review, Japan's economy remained on a gradual recovery track, with exports continuing to increase and employment conditions and corporate earnings gradually improving. However, the outlook remained uncertain due to heightened political risks in Europe and the United States and geopolitical risks surrounding North Korea.」
The wording has been reorganized from the specific factors of US policy and the UK's withdrawal from the EU to political risks in the United States and Europe, while heightened geopolitical risks surrounding North Korea and uncertainty over the outlook continue. - FY2018-Q2WorsenedAnnual report
「The US and European economies continued to expand moderately. However, the outlook remains uncertain due to concerns over US policy, the UK's withdrawal from the EU and heightened geopolitical risks surrounding North Korea.」
Heightened geopolitical risks surrounding North Korea have been added as a new factor contributing to uncertainty, alongside US policy and the UK's withdrawal from the EU. - FY2018-Q1Reorganized the issues contributing to overseas uncertaintyAnnual report
「The outlook remained uncertain due to the slowdown in economic growth in emerging economies and political developments in the United States and Europe.」
The factors contributing to overseas uncertainty have been reorganized, from the previously cited issues of China, the UK's withdrawal from the EU and the new US administration to the slowdown in emerging-market growth and political developments in the United States and Europe. - FY2017Expanded the factors contributing to overseas uncertaintyAnnual report
「The outlook remained uncertain due to uncertainty surrounding overseas economies, including the slowdown in emerging economies such as China, the UK's withdrawal from the EU and concerns about the policies of the new US administration, as well as unstable movements in financial and foreign exchange markets and price increases resulting from the agreement to cut oil production.」
In addition to emerging economies such as China, the UK's withdrawal from the EU and the new US administration, rising oil prices are cited as factors behind volatility in markets and foreign exchange, broadening the issues identified in the external environment. - FY2017-Q3Expanded the factors contributing to volatility while also citing factors supporting economic recoveryAnnual report
「Although recovery continued in the United States and Europe, and signs of improvement were seen in China in Asia, foreign exchange and stock markets fluctuated sharply due to factors including the UK's withdrawal from the EU and the outcome of the US presidential election, and the outlook remains uncertain.」
While pointing to economic recovery or improvement in the United States, Europe and China, the UK's withdrawal from the EU and the US presidential election were cited as factors behind market volatility, and uncertainty over the outlook remains. - FY2017-Q2MaterialisedAnnual report
「In addition to the slowdown in the economies of emerging Asian countries, led by China, the yen appreciated as uncertainty over overseas economies increased, including the UK's withdrawal from the EU, and the outlook remains uncertain.」
The slowdown in emerging Asia, the UK's withdrawal from the EU and the yen's appreciation continue to be cited, with impacts on performance such as foreign exchange losses also arising. - FY2017-Q1First statedAnnual report
「The outlook remained uncertain, with sharp movements in share prices and foreign exchange rates resulting from the downturn in the economies of emerging Asian countries, including China, and the UK's decision to leave the EU.」
The document describes the downturn in overseas economies and volatility in share prices and foreign exchange rates triggered by the UK's departure from the EU as external conditions that had already materialized.