Unstable Economic Environment Due to Yen Appreciation, Falling Stock Prices and Other Factors
First written in FY2016-Q3. 24 of 35 entries say "Reframed", first in FY2016. Latest entry: 2026-10-14.
Asahi Kagaku Kogyo moved to the "Worse" side of this theme in 2017, 2 years before the typical company in this theme (2019).
The whole theme swung hardest in 2020: 141 of 158 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- FY2026-H1ReframedAnnual report
「Meanwhile, the outlook remained uncertain due to factors including US trade policy, rising prices, and the risk of an economic downturn resulting from higher long-term interest rates.」
The sources of uncertainty are identified as US trade policy, rising prices, and the risk of an economic downturn due to higher long-term interest rates. - FY2025-H1ReframedAnnual report
「During the six-month consolidated period, the Japanese economy remained on a gradual recovery trend as corporate earnings and employment and income conditions improved, despite the impact of unstable foreign exchange rates and rising prices. The outlook for the global economy remained uncertain due to factors including the impact of tariff measures imposed by the Trump administration on other countries.」
While identifying unstable foreign exchange rates and rising prices as factors affecting the domestic economy, the company newly specifies tariff measures imposed by the Trump administration on other countries as a source of uncertainty for the global economy. - FY2024-Q3ReframedAnnual report
「During the nine-month period ended [current third quarter], the Japanese economy remained on a recovery trend due to the normalization of economic activity and improvements in employment and income conditions. However, the outlook remained uncertain due in part to foreign exchange volatility and the impact of rising prices.」
While indicating a recovery trend due to the normalization of economic activity and improvements in employment and income conditions, the explanation has shifted from its previous focus on energy prices, logistics costs and yen depreciation to foreign exchange volatility and rising prices as sources of uncertainty. - FY2024-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], the Japanese economy showed signs of a gradual recovery as employment and income conditions improved and inbound consumption increased. However, the outlook remained uncertain due to factors including soaring energy prices and logistics costs and the impact of yen depreciation.」
The explanation has shifted from the previous quarter's focus on global monetary tightening and concerns about the Chinese economy to uncertainty centered on soaring energy prices and logistics costs and the impact of yen depreciation. - FY2024-Q1ReframedAnnual report
「During the three-month period ended [current first quarter], the Japanese economy improved gradually as employment and income conditions improved. However, the outlook remained uncertain due to factors including the impact of global monetary tightening and concerns about the future of the Chinese economy.」
The explanation has shifted from its previous focus on the situation in Ukraine, resource prices and yen depreciation to new sources of uncertainty, namely the impact of global monetary tightening and concerns about the future of the Chinese economy. - FY2023ReframedAnnual report
「During the consolidated fiscal year, the reclassification of COVID-19 to Category 5 under the Infectious Diseases Control Law helped normalize economic activity, and personal consumption and capital investment showed signs of recovery. The economy continued to recover gradually. However, the outlook remained uncertain due to soaring resource and raw material prices resulting from yen depreciation and the situation in Russia and Ukraine.」
While indicating a recovery resulting from the reclassification of COVID-19 and the normalization of economic activity, the company identifies yen depreciation and soaring resource and raw material prices resulting from the situation in Russia and Ukraine as new sources of uncertainty. - FY2023-Q3ReframedAnnual report
「During the nine-month period ended [current third quarter], the Japanese economy showed signs of recovery as COVID-19 was reclassified under the Infectious Diseases Control Law from Category 2 to Category 5 and various restrictions were eased. However, the outlook remained uncertain due to soaring resource and energy prices resulting from Russia's invasion of Ukraine.」
While indicating a recovery due to the easing of restrictions related to COVID-19, the company continues to identify soaring resource and energy prices associated with Russia's invasion of Ukraine as a source of uncertainty. - FY2023-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], economic activity showed signs of a gradual recovery as restrictions on activities related to COVID-19 were eased. However, the outlook remained uncertain due to factors including soaring resource and energy costs resulting from the situation in Russia and Ukraine.」
While indicating a recovery in economic activity due to the easing of activity restrictions, the company specifies soaring resource and energy costs resulting from the situation in Russia and Ukraine as sources of uncertainty. - FY2023-Q1ReframedAnnual report
「During the three-month period ended [current first quarter], the Japanese economy showed signs of recovery as it moved toward normalization through efforts to balance COVID-19 measures with economic activity. However, the outlook remained uncertain due to the prolonged situation in Ukraine, substantial inflation caused by yen depreciation, and soaring logistics costs.」
While indicating normalization through efforts to balance COVID-19 measures with economic activity, the company identifies the prolonged situation in Ukraine, inflation caused by yen depreciation, and soaring logistics costs as new sources of uncertainty. - FY2022-Q3WorsenedAnnual report
「During the nine-month period ended [current third quarter], the Japanese economy showed signs of a gradual recovery as efforts to balance measures against COVID-19 with economic activity progressed. However, inflation continued due to soaring energy prices against a backdrop of Russia's military invasion of Ukraine and yen depreciation resulting from higher US interest rates, and the outlook remained uncertain.」
While indicating a recovery resulting from efforts to balance infection-control measures with economic activity, the company identifies Russia's invasion of Ukraine, soaring energy prices, yen depreciation associated with higher US interest rates, and inflation as new sources of uncertainty. - FY2022-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], the reapplication of priority preventive measures in response to the renewed spread of COVID-19 significantly restricted economic activity. The outlook remained uncertain due to factors including the impact of rising crude oil and raw material prices on personal consumption and the situation in Ukraine.」
Amid continued restrictions on economic activity due to COVID-19, the company identifies the impact of rising crude oil and raw material prices on personal consumption and the situation in Ukraine as sources of uncertainty. - FY2022-Q1ReframedAnnual report
「During the three-month period ended [current first quarter], signs of a recovery in economic activity began to emerge, particularly in developed economies, as vaccination programs progressed, following the stagnation caused by the spread of COVID-19. However, the renewed spread of COVID-19 in Southeast Asia and elsewhere made semiconductors and electronic components difficult to procure. Rising prices for crude oil and other raw materials, as well as restrictions on electricity supplies in China, affected production activity, and the outlook remained uncertain.」
While indicating signs of recovery associated with vaccination programs, the company identifies difficulties in procuring semiconductors and electronic components, rising raw material prices, and restrictions on electricity supplies in China as new sources of uncertainty. - FY2021RestatedAnnual report
「During the consolidated fiscal year, employment and income conditions continued to deteriorate and economic activity stagnated due to the impact of COVID-19. Although a recovery was expected as vaccination programs accelerated, the timing of the end of the pandemic remained unforeseeable and the outlook continued to be uncertain.」
While deterioration in employment and income conditions and stagnation in economic activity due to COVID-19 continued, the company also notes expectations for a recovery as vaccination programs accelerate. The timing of the end of the pandemic remains unforeseeable. - FY2021-Q3ReframedAnnual report
「During the nine-month period ended [current third quarter], economic activity stagnated significantly due to the spread of COVID-19. Although many industries showed signs of recovery, driven by the recovery in demand in China and elsewhere, the timing of a broad normalization of economic activity remained unforeseeable due to risks including the spread of variants.」
While economic activity remained stagnant, the company describes signs of recovery in many industries driven by recovering demand in China and elsewhere, and newly identifies the risk of variant spread and uncertainty over the timing of normalization. - FY2021-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], economic activity was significantly restricted by the spread of COVID-19. Although measures including vaccination programs had begun, the timing of a broad normalization of economic activity remained unforeseeable.」
While restrictions on economic activity continued, the company adds that measures including vaccination programs had begun, but the timing of normalization remained unforeseeable. - FY2021-Q1WorsenedAnnual report
「During the three-month period ended [current first quarter], economic activity was significantly restricted by the spread of COVID-19. Personal consumption and corporate activity stagnated, resulting in extremely challenging conditions. Further spread of the virus was also a concern, and the outlook remained uncertain.」
The company states that the spread of COVID-19 significantly restricted economic activity and caused personal consumption and corporate activity to stagnate. Further spread remained a concern, while challenging conditions and an uncertain outlook continued. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, the Japanese economy had been on a gradual recovery trend as corporate earnings and employment and income conditions improved. However, the economy deteriorated rapidly and economic activity was significantly restricted due to the global spread of COVID-19. Although economic activity gradually resumed after the state of emergency was lifted, the risk of further COVID-19 spread remained and the outlook continued to be uncertain.」
The explanation has shifted from the previous gradual recovery trend to a description of a rapid economic deterioration and significant restrictions on economic activity due to COVID-19. - FY2020-Q3WorsenedAnnual report
「During the nine-month period ended [current third quarter], concerns had arisen over the impact of international trade friction and the consumption tax rate increase on the domestic economy. The economy then deteriorated sharply following the declaration of a state of emergency in response to the outbreak of COVID-19. Even after the declaration was lifted, the recovery remained slow and the outlook continued to be uncertain.」
In addition to the previous uncertainty caused by trade friction and the consumption tax rate increase, the company states that the economy deteriorated sharply due to COVID-19 and the state of emergency, while the recovery remained slow. - FY2020-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], personal consumption in the Japanese economy declined due to the consumption tax increase.」
In addition to the previous explanation of the external environment centered on foreign exchange rates and overseas economies, the company notes a decline in domestic personal consumption due to the consumption tax increase. The impact of COVID-19 is described separately as a specific risk. - FY2020-Q1ReframedAnnual report
「During the three-month period ended [current first quarter], the Japanese economy remained on a gradual recovery trend as corporate earnings and employment conditions improved. However, the outlook remained uncertain due in part to the consumption tax increase and the effects of natural disasters.」
The explanation has shifted from uncertainty in the global economy centered on US-China trade friction and other factors to uncertainty in the outlook for the domestic economy, including the effects of the consumption tax increase and natural disasters. - FY2019RestatedAnnual report
「During the consolidated fiscal year, concerns arose over uncertainty in the global economy and volatility in financial and capital markets due to US-China trade friction and other factors. The global economy remained uncertain, with exports and production remaining weak.」
The company continues to describe an uncertain outlook for the global economy due to US-China trade friction, volatility in financial and capital markets, and weak exports and production. - FY2019-Q3ReframedAnnual report
「The global economy remained uncertain due to the impact on financial and capital markets of escalating trade friction between the United States and China, as well as the slowdown in the Chinese and European economies.」
In addition to US-China trade friction, the company identifies the impact of its escalation on financial and capital markets and the slowdown in the Chinese and European economies as sources of uncertainty. - FY2019-Q2RestatedAnnual report
「During the six-month period ended [current second quarter], the Japanese economy remained on a gradual recovery trend due to improvements in employment and income conditions. However, the outlook for the global economy remained uncertain due to factors including the impact of US-China trade friction.」
The company continues to describe a gradual recovery in the domestic economy and an uncertain outlook for the global economy due to US-China trade friction. - FY2019-Q1ReframedAnnual report
「During the three-month period ended [current first quarter], the Japanese economy remained on a gradual recovery trend, centered on developed Asian economies, although risks arising from uncertainty in the global economy, including concerns about US-China trade friction, continued to affect conditions.」
The explanation has become more specific, shifting from overseas political and geopolitical risks to risks arising from uncertainty in the global economy, including US-China trade friction. At the same time, it notes a gradual recovery trend centered on developed Asian economies. - FY2018-Q3ReframedAnnual report
「However, the outlook for overseas economies has become increasingly uncertain due to concerns about protectionist policies under the US administration.」
The company specifically identifies concerns about protectionist policies under the US administration as a source of uncertainty for overseas economies. - FY2018-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], the Japanese economy continued to improve gradually as a result of monetary and economic policies, although attention must be paid to overseas policy developments, including those in the United States, and geopolitical risks.」
The factors are specified more clearly than in the previous quarter's reference to unstable political developments overseas, with attention drawn to overseas policy developments, including those in the United States, and geopolitical risks. The domestic economy is described as being on a gradual improvement trend. - FY2018-Q1ReframedAnnual report
「During the three-month period ended [current first quarter], the Japanese economy remained on a gradual recovery trend against a backdrop of the government's economic stimulus measures. However, the outlook remained uncertain due to concerns about the impact of unstable political developments overseas and geopolitical risks.」
While indicating a gradual recovery in the domestic economy, the company identifies unstable political developments overseas and geopolitical risks as concerns, replacing the previous focus on overseas policies and economic trends as sources of uncertainty. - FY2017ReframedAnnual report
「During the consolidated fiscal year, the Japanese economy remained on a gradual recovery trend, with improvements in employment, income conditions and corporate earnings as a result of the government's economic policies. Overseas, however, economic conditions remained uncertain, including the potential impact of monetary policy under the new US administration on the global economy.」
The domestic economy is described as being on a recovery trend due to improvements in employment, income conditions and corporate earnings, while overseas uncertainty is attributed in part to the impact of monetary policy under the new US administration. - FY2017-Q3WorsenedAnnual report
「The outlook for the global economy has become increasingly uncertain due to the future economic policies of the new US administration, economic trends in emerging Asian economies, and the UK's exit from the EU.」
The company describes the domestic economy as being on a gradual recovery trend, supported by recovering corporate earnings and improving employment conditions, while noting that the outlook for the global economy has become more uncertain due to the economic policies of the new US administration, developments in emerging Asian economies, and the UK's exit from the EU. - FY2017-Q2ReframedAnnual report
「During the six-month period ended [current second quarter], the Japanese economy was on a gradual recovery trend, with employment conditions improving as a result of the government's economic policies. However, it remained uncertain due to factors including the slowdown in emerging economies and the effects of the inauguration of the new US president, which caused instability in foreign exchange rates and share prices.」
While acknowledging the improvement in employment conditions, the company identifies instability in foreign exchange rates and share prices resulting from the slowdown in emerging economies and the effects of the new US president's inauguration as factors behind the uncertain outlook. - FY2017-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], the Japanese economy showed signs of a gradual recovery as corporate earnings and employment conditions improved. However, the outlook remained uncertain due to the economic slowdown in emerging Asian economies, including China, and instability in foreign exchange and equity markets.」
While acknowledging improvements in corporate earnings and employment conditions, the company continues to describe an uncertain outlook due to the slowdown in emerging Asian economies, including China, and instability in foreign exchange and equity markets. - FY2016ReframedAnnual report
「During the consolidated fiscal year, the Japanese economy remained uncertain, although corporate earnings and employment conditions were gradually recovering as a result of the government's economic policies. The outlook also remained unclear due to the slowdown in China and emerging economies and the UK's exit from the EU.」
The explanation of risk has shifted from an external environment centered on yen appreciation and falling share prices to an uncertain outlook, including the slowdown in China and emerging economies and the UK's exit from the EU. - FY2016-Q3First statedAnnual report
「During the nine-month period ended [current third quarter], the Japanese economy remained uncertain, with corporate earnings and personal consumption continuing to stagnate against a backdrop of rapid yen appreciation, falling share prices and other instability.」
The external environment is described in terms of yen appreciation, falling share prices, and stagnation in corporate earnings and personal consumption.