Economic Slowdowns in Europe and Asian Emerging Economies and Uncertainty in the Global Economy
First written in FY2016-Q2. 18 of 34 entries say "Worsened", first in FY2018-Q2. Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
- FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, the economy recovered moderately, supported by factors including increased demand related to AI, despite the impact of higher energy prices associated with heightened tensions in the Middle East.」
The escalating situation in the Middle East and rising energy prices have added to the existing sources of uncertainty surrounding geopolitics and the global economy. - FY2025WorsenedAnnual report
「During the period, economic activity was constrained by disruption caused by U.S. tariff policy and heightened geopolitical risks, but the economy recovered moderately.」
In addition to existing geopolitical risks, the Company cites disruption caused by U.S. tariff policy as a new source of uncertainty. - FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period, the global economy showed signs of recovery, although uncertainty about the outlook increased due to developments surrounding U.S. tariff policy and geopolitical risks.」
In addition to existing geopolitical risks and other factors, the Company cites developments surrounding U.S. tariff policy as a new source of uncertainty, increasing uncertainty about the global economic outlook. - FY2024-Q1WorsenedAnnual report
「During the cumulative consolidated period of the first quarter, the global economy showed signs of recovery, driven by strong economic expansion in the United States, although weakness continued in regions including Europe and China. Manufacturing activity began to recover moderately ahead of a cyclical recovery in demand. However, uncertainty about the outlook continued due to volatility in financial and capital markets and conditions in the Middle East.」
Although the U.S. economy expanded and manufacturing showed signs of recovery, the Company cites weakness in Europe and China, together with volatility in financial and capital markets and conditions in the Middle East, as new sources of uncertainty. - FY2023WorsenedAnnual report
「The global economy recovered during the period, but the manufacturing sector faced severe market conditions, with product demand remaining weak due to inflation and the fading of COVID-related special demand, except in some industries such as mobility.」
Although the economy showed signs of recovery, the Company cites weak manufacturing demand due to inflation, monetary tightening, stagnation in Europe, the slowdown in China's recovery, and the fading of COVID-related special demand, with severe market conditions continuing. - FY2023-Q3WorsenedAnnual report
「During the cumulative consolidated period of the third quarter, the economy was recovering, but concerns about a slowdown persisted due to monetary tightening, particularly in the United States and Europe, and geopolitical risks, leaving the outlook uncertain. The U.S. economy recovered against a backdrop of resilient personal consumption and employment. The European economy stagnated as inflation and weak domestic and external demand weighed on activity. In China, the economic recovery slowed due to weaker domestic and external demand and the impact of trade friction.」
Although the economy showed signs of recovery, uncertainty about the global outlook continued due to monetary tightening in the United States and Europe, geopolitical risks, stagnation in Europe, and the slowdown in China's economic recovery. - FY2023-Q2Economic recovery and regional differencesAnnual report
「During the cumulative consolidated period of the second quarter, the economy recovered despite global inflation and monetary tightening. The U.S. economy recovered moderately, while the European economy stagnated as inflation and weak domestic and external demand weighed on activity. In China, the economy recovered and showed signs of improvement after the lifting of its zero-COVID policy.」
Although the global economy recovered, the Company cites regional differences, including stagnation in Europe due to inflation and weak domestic and external demand, a moderate recovery in the United States, and a recovery in China. - FY2023-Q1WorsenedAnnual report
「During the cumulative consolidated period of the first quarter, the global economic recovery remained sluggish due to inflation and global monetary tightening. The U.S. economy continued to show signs of recovery, but manufacturing activity and residential investment remained weak. In Europe, the economy stagnated as inflation weighed on activity. In China, exports remained weak due to slower overseas demand, but the economy showed signs of recovery as domestic demand recovered.」
In addition to inflation and global monetary tightening, the Company cites weak U.S. manufacturing and residential investment, stagnation in Europe, and weak Chinese exports, with uncertainty in the global economy continuing. - FY2022WorsenedAnnual report
「During the consolidated fiscal year, the global economy showed signs of recovery from the damage caused by the novel coronavirus disease (COVID-19), but the recovery slowed due to inflation and interest-rate hikes in the United States and Europe. The U.S. economy continued to recover moderately, while the European economy stagnated due in part to Russia's invasion of Ukraine, and China's economic recovery stalled due in part to its COVID-19 policies.」
Inflation, interest-rate hikes in the United States and Europe, Russia's invasion of Ukraine, and China's COVID-19 policies continued to weigh on the global economy, sustaining uncertainty and slowing the economic recovery. - FY2022-Q3WorsenedAnnual report
「During the cumulative consolidated period of the third quarter, the economy continued to recover moderately. However, the outlook became more uncertain due to factors including ongoing interest-rate hikes by Western countries in response to rising inflation, the dollar's appreciation in foreign-exchange markets, and the prolonged Russia-Ukraine situation.」
Although the economy showed signs of recovery, inflation, interest-rate hikes in the United States and Europe, the stronger dollar, and the prolonged Russia-Ukraine situation combined to increase uncertainty in the global economy. - FY2022-Q2WorsenedAnnual report
「During the cumulative consolidated period of the second quarter, the global economy generally continued to show signs of recovery. However, in addition to rising raw material and energy prices and higher labor costs, various economic and social developments made the outlook more uncertain, including interest-rate hikes in the United States and Europe, the prolonged Russia-Ukraine situation, China's COVID-19 policies, and the yen's continued depreciation in foreign-exchange markets.」
Although the economy showed signs of recovery, multiple sources of uncertainty continued or emerged, including supply constraints and higher costs, interest-rate hikes, the prolonged Russia-Ukraine situation, China's COVID-19 policies, and the yen's depreciation. - FY2022-Q1WorsenedAnnual report
「During the cumulative consolidated period of the first quarter, the global economy generally showed signs of recovery. However, in addition to continuing supply-side constraints, including higher raw material and energy prices and rising labor costs, various economic and social developments made the outlook more uncertain, including the U.S. interest-rate hikes, Russia's military invasion of Ukraine, the resurgence of COVID-19 in China and lockdowns in certain regions, and the yen's continued depreciation in foreign-exchange markets.」
Although the economy showed signs of recovery, a series of new sources of uncertainty, including supply constraints, interest-rate hikes, Russia's military invasion of Ukraine, lockdowns in China, and the yen's depreciation, has heightened concerns about risks to the global economy. - FY2021-Q3Progress in the economic recovery and supply constraintsAnnual report
「During the cumulative consolidated period of the third quarter, global economic conditions remained severe due to the continuing impact of COVID-19, but signs of economic recovery emerged. In the United States and Europe, the impact of shortages of raw materials and higher labor costs became apparent, but the economic recovery progressed steadily. In China, the economy continued to recover moderately.」
Although the economic recovery progressed in the United States, Europe, and China despite the continuing impact of COVID-19, shortages of raw materials and higher labor costs became apparent. - FY2021-Q2Progress in the economic recoveryAnnual report
「During the cumulative consolidated period of the second quarter, global economic conditions remained severe due to the prolonged impact of the novel coronavirus disease (COVID-19), but the economy began to recover as economic activity gradually resumed. In the United States and Europe, the economic recovery progressed against a backdrop of increased vaccinations and additional economic measures. In China, the economy continued to recover moderately.」
Although severe conditions persisted due to COVID-19, the Company cites economic recovery in the United States and Europe and a moderate recovery in China, supported by the resumption of economic activity, vaccinations, and economic measures. - FY2021-Q1Signs of economic recoveryAnnual report
「During the cumulative consolidated period of the first quarter, global economic conditions remained severe due to the prolonged impact of the novel coronavirus disease (COVID-19), but signs of economic recovery emerged. In the United States, the economy began to improve against a backdrop of vaccine uptake and additional economic measures. In Europe, restrictions on economic activity continued due to the resurgence of COVID-19, but manufacturing output continued to recover and the economy showed resilience. In China, the economy continued to recover moderately.」
Although severe conditions persisted due to COVID-19, the Company cites signs of recovery, including improvement in the United States, recovery in European manufacturing, and a moderate recovery in China. - FY2020WorsenedAnnual report
「In the United States and Europe, stagnant economic activity gradually resumed, but the resurgence of COVID-19 weighed on the economies and slowed the recovery.」
The resurgence of COVID-19 slowed the economic recovery in the United States and Europe, and uncertainty in the global economy continued. - FY2020-Q3WorsenedAnnual report
「During the cumulative consolidated period of the third quarter, global economic conditions remained severe, with uncertainty about the outlook persisting after economic activity was significantly restricted by the COVID-19 pandemic, despite signs of recovery. In the United States and Europe, economic activity was gradually resumed after being restricted by measures including business closures, movement restrictions, and entry restrictions, but the resurgence of COVID-19 weighed on the economies and slowed the recovery.」
The resurgence of COVID-19 weighed on the economic recovery, and uncertainty and severe conditions continued in the global economy, particularly in the United States and Europe. - FY2020-Q2MaterialisedAnnual report
「During the cumulative consolidated period of the second quarter, the economy slowed due to the spread of the novel coronavirus disease (COVID-19), but signs of recovery emerged. In the United States and Europe, economic activity was restricted by measures including business closures, movement restrictions, and entry restrictions, resulting in extremely severe economic conditions.」
In addition to the existing uncertainty from trade friction and other factors, COVID-19 restricted economic activity in the United States and Europe, and the global economy has in fact slowed. - FY2020-Q1WorsenedAnnual report
「During the cumulative consolidated period of the first quarter, global economic conditions had initially been on a moderate recovery trend, but the economy began to slow due to the spread of the novel coronavirus (COVID-19).」
In addition to the existing uncertainty caused by protectionism and trade friction, the Company states that the global economy began to slow due to the spread of the novel coronavirus. - FY2019-Q3RestatedAnnual report
「China's economy continued to slow moderately, while the recovery in other Asian emerging economies remained weak.」
The Company reconfirms its view that China's economic slowdown and the weak recovery in other Asian emerging economies are continuing. - FY2019-Q2MaterialisedAnnual report
「During the cumulative consolidated period of the second quarter, operating rates at domestic plants declined due in part to slower demand for China, while some overseas plants continued to face challenges in reducing quality costs.」
The slowdown in demand for China materialized as lower operating rates at domestic plants in the Industrial Materials segment, which recorded a segment loss of ¥959 million. - FY2019-Q1WorsenedAnnual report
「During the cumulative consolidated period of the first quarter, global economic conditions remained uncertain due to protectionist economic policies and the resulting trade friction, and some regions showed weakness, although the global economy recovered moderately overall. In the United States, the economy continued to recover, supported by increased personal consumption and capital investment. In Europe, the economy recovered moderately despite weakness in some areas. In China, the economy began to slow, while the recovery in other Asian emerging economies remained weak.」
In addition to uncertainty from protectionism and trade friction, the Company cites China's economic slowdown and the weak recovery in other Asian emerging economies. - FY2018WorsenedAnnual report
「The global economy is expected to continue recovering moderately in the next period, but signs of a slowdown in the recovery have emerged recently. Continued attention is required regarding uncertainty over trade issues and the policies of individual countries, as well as the impact of volatility in financial and capital markets.」
In addition to signs of a slowdown in the economic recovery, the Company newly cites trade issues, individual countries' policies, and volatility in financial and capital markets as sources of uncertainty. - FY2018-Q3RestatedAnnual report
「Looking back at global economic conditions during the cumulative consolidated period of the third quarter, the real economy remained firm despite growing uncertainty about the outlook due to protectionist economic policies and the resulting trade friction.」
The Company continues to cite uncertainty about the outlook due to protectionist economic policies and trade friction, but identifies no additional changes as new risks. - FY2018-Q2WorsenedAnnual report
「Looking back at global economic conditions during the cumulative consolidated period of the second quarter, the real economy remained firm despite growing uncertainty about the outlook, including the rise of protectionist economic policies and concerns over the resulting trade friction.」
In addition to the existing uncertainty in overseas economies, the Company cites protectionist policies and concerns over trade friction as new sources of uncertainty. - FY2018-Q1RestatedAnnual report
「In the United States, the economy continued to recover, supported by increased personal consumption and capital investment. Although uncertainty about Europe's outlook persisted due to issues including the UK's withdrawal from the EU, the European economy recovered moderately. Asian emerging economies, including China, showed signs of recovery. In Japan, the economy continued to recover moderately, but continued attention is required regarding uncertainty in overseas economies and foreign-exchange volatility.」
The Company reconfirms the need to monitor uncertainty associated with the UK's withdrawal from the EU, uncertainty in overseas economies, and foreign-exchange volatility. - FY2017-Q3RestatedAnnual report
「In the United States, the economy continued to recover, supported by increased personal consumption and improvements in employment conditions. Although uncertainty about Europe's outlook persisted due to issues including the UK's withdrawal from the EU, the European economy recovered moderately. Asian emerging economies, including China, showed signs of recovery.」
The Company states that, while uncertainty associated with the UK's withdrawal from the EU remained in Europe, Asian emerging economies showed signs of recovery. - FY2017-Q2RestatedAnnual report
「In the United States, the economy continued to recover, supported by increased personal consumption and improvements in employment conditions. Although uncertainty about Europe's outlook persisted due to issues including the UK's withdrawal from the EU, the European economy recovered moderately. Asian emerging economies, including China, showed signs of recovery.」
The Company states that, while uncertainty associated with the UK's withdrawal from the EU remained in Europe, Asian emerging economies showed signs of recovery. - FY2017RestatedAnnual report
「The global economy is expected to continue recovering moderately in the next period. However, continued attention is required regarding uncertainty about the outlook arising from developments in U.S. policy and issues including the UK's withdrawal from the EU.」
The Company reconfirms U.S. policy developments, the UK's withdrawal from the EU, and uncertainty in overseas economies as external-environment risks. - FY2016-Q4RestatedAnnual report
「Although uncertainty about Europe's outlook persisted due to issues including the UK's withdrawal from the EU, the European economy recovered moderately. Although some Asian emerging economies, including China, showed signs of recovery, their economies slowed moderately.」
The Company again cites uncertainty in Europe associated with the UK's withdrawal from the EU and the slowdown in Asian emerging economies. - FY2016-Q3RestatedAnnual report
「The European economy recovered moderately, but uncertainty about the outlook increased due to issues including the UK's withdrawal from the EU. Although some Asian emerging economies, including China, showed signs of recovery, their economies slowed moderately.」
The Company again cites uncertainty in Europe associated with the UK's withdrawal from the EU and the slowdown in Asian emerging economies as external-environment risks. - FY2016-Q2First statedAnnual report
「The European economy recovered moderately, but uncertainty about the outlook increased following reports of the UK's withdrawal from the European Union. Although some Asian emerging economies, including China, showed signs of recovery, their economies slowed moderately.」
The Company identifies uncertainty over Europe's outlook following reports of the UK's withdrawal from the European Union, together with the slowdown in Asian emerging economies, as risks to the global business environment.