Risks of Changes in Laws and Political and Economic Disruptions in Overseas Operations
First written in FY2019. 14 of 16 entries say "Materialised", first in FY2021-Q2. Latest entry: FY2026.
The whole theme swung hardest in 2025: 50 of 96 companies on the "Worse" side.
- FY2026MaterialisedAnnual report
「Sales of leather for steering wheels declined in both revenue and profit because they were affected by weak demand resulting from the slowdown in the Chinese economy.」
The slowdown in the Chinese economy appeared in full-year results as lower revenue and profit from leather for steering wheels, and external-environment risks in the overseas business continued to materialize. - 2026-05-15MaterialisedResults
「Sales of leather for steering wheels declined in both revenue and profit because they were affected by weak demand resulting from the slowdown in the Chinese economy.」
中国経済の減速による海外事業環境の変動が、ハンドル用革の減収減益として通期実績に現れた。 - FY2026-H1MaterialisedAnnual report
「Sales of leather for steering wheels declined in both revenue and profit because exports of vehicles to the United States decreased due in part to the slowdown in the Chinese economy and the impact of US tariff policy.」
The decline in vehicle exports to the United States caused by the impact of US tariff policy actually appeared as lower revenue and profit from leather for steering wheels. - FY2025MaterialisedAnnual report
「Although the company reduced costs by improving production processes and other areas, sales of leather for steering wheels struggled partly because of the slowdown in the Chinese economy and temporary suspensions of automobile production and sales associated with certification fraud at automakers.」
The slowdown in the Chinese economy and the suspension of automobile production and sales associated with certification fraud at automakers actually appeared as difficult sales of leather for steering wheels. - FY2025-H1MaterialisedAnnual report
「Sales of leather for steering wheels were affected by the slowdown in the Chinese economy and the suspension of automobile production and sales due to issues involving fraudulent data, but remained at roughly the same level as in the previous interim consolidated accounting period.」
The slowdown in the Chinese economy and the suspension of automobile production and sales due to fraudulent data issues actually affected the sales environment for leather for steering wheels. - FY2024-Q3MaterialisedAnnual report
「Although demand for men's and women's shoe leather began to recover as restrictions on activities were eased, sales of leather for steering wheels struggled partly because of the slowdown in the Chinese economy.」
The slowdown in the Chinese economy actually appeared as difficult sales of leather for steering wheels, and fluctuations in the overseas economic environment are affecting the leather-related business. - FY2024-Q2MaterialisedAnnual report
「Although demand for men's and women's shoe leather began to recover as restrictions on activities were eased, sales of leather for steering wheels struggled due in part to the slowdown in the Chinese economy and supply chain disruption. Sales of raw hides also declined, resulting in lower sales overall.」
The slowdown in the Chinese economy and supply chain disruption actually appeared as difficult sales of leather for steering wheels and lower sales of raw hides, resulting in lower revenue for the leather-related business. - FY2024-Q1MaterialisedAnnual report
「Sales of leather for steering wheels struggled partly because of disruption in the automotive industry's supply chain. Meanwhile, demand for men's and women's shoe leather began to recover as restrictions on activities were eased, resulting in higher sales.」
Disruption in the automotive industry's supply chain actually appeared as difficult sales conditions for leather for steering wheels. - FY2023-Q3MaterialisedAnnual report
「Sales of leather for steering wheels declined as shipments were delayed due in part to the Shanghai lockdown.」
Shipment delays caused by the Shanghai lockdown also appeared as lower sales of leather for steering wheels in the cumulative period through the current quarter. - FY2023-Q1MaterialisedAnnual report
「Sales of leather for steering wheels declined as shipments were delayed by the Shanghai lockdown. Profitability continued to be challenging because the company was unable to pass on all increases in raw material, processing and other costs.」
Shipment delays caused by the Shanghai lockdown actually appeared as lower sales of leather for steering wheels, and external-environment risks in the overseas business continued. - FY2022-Q3MaterialisedAnnual report
「Imports of Italian food ingredients for the food-service industry began to recover after Japan's state of emergency was lifted, but sales declined due in part to overseas processing manufacturers suspending operations because of lockdowns.」
Overseas processing manufacturers' suspension of operations due to lockdowns appeared in the results as lower sales of imported Italian food ingredients. - FY2021MaterialisedAnnual report
「Sales in the vehicle segment declined significantly because automakers sharply reduced production as automobile plants suspended operations during lockdowns resulting from the spread of infectious diseases, while production adjustments were made due to delays in air and sea transport caused by travel restrictions.」
Overseas lockdowns, travel restrictions and logistics delays actually appeared as reduced production by automakers and lower sales of leather for vehicle applications. - FY2021-Q3MaterialisedAnnual report
「Export sales also declined due to renewed outbreaks of COVID-19 overseas and repeated lockdowns.」
Renewed overseas outbreaks of COVID-19 and lockdowns actually resulted in lower export sales. - FY2021-Q2MaterialisedAnnual report
「Domestic demand for gelatin and peptides was affected by a decline in inbound consumption. Although export sales fell sharply as the COVID-19 pandemic severely disrupted overseas transactions, they have gradually begun to recover.」
In overseas transactions, the COVID-19 pandemic actually led to a sharp decline in export sales. At the same time, the company stated that export sales were gradually recovering. - FY2020RestatedAnnual report
「The Group conducts sales and production activities across a wide range of regions, including Asia, Europe and North America. Unexpected changes in local laws and regulations, or political or economic turmoil, may affect the Group's operating results.」
The risks of changes in local laws and regulations and political and economic turmoil associated with sales and production activities in Asia, Europe and North America continue to apply. - FY2019First statedAnnual report
「The Group conducts sales and production activities across a wide range of regions, including Asia, Europe and North America. Unexpected changes in local laws and regulations, or political or economic turmoil, may affect its operating results.」
The impact on results of changes in local laws and regulations and political and economic turmoil associated with the expansion of overseas sales and production activities was identified as a separate risk for the first time.