Overseas business risks arising from changes in global conditions, foreign exchange rates and regulations
First written in FY2016. 9 of 34 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-10-30.
The whole theme swung hardest in 2025: 72 of 116 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「During the current consolidated fiscal year, the outlook became uncertain due to developments in North American trade policy and rising geopolitical risks resulting from heightened tensions in the Middle East.」
Regarding the external environment surrounding the overseas business, the company explicitly identifies rising geopolitical risks arising from the situation in the Middle East in addition to North American trade policy. - FY2026-H1WorsenedAnnual report
「During the current interim consolidated accounting period, the outlook became uncertain due to developments in North American trade policy and the prolonged situation in Ukraine.」
Regarding risks surrounding the overseas business, the company explicitly identifies developments in North American trade policy as a source of uncertainty in addition to the previously identified prolonged situation in Ukraine. - FY2024WorsenedAnnual report
「During the current consolidated fiscal year, signs of an economic slowdown strengthened due to the prolonged situation in Ukraine, heightened tensions in the Middle East, inflation and monetary tightening to curb inflation, and slower growth in the Chinese economy.」
Although recovery from the impact of COVID-19 is a positive factor, the company further specifies the situation in Ukraine, the situation in the Middle East, monetary tightening and slower growth in the Chinese economy as factors slowing the global economy. - FY2024-Q3Recovery from the impact of COVID-19 coexists with an economic slowdown and an uncertain outlookAnnual report
「During the third quarter of the current consolidated fiscal year, the global economy recovered and began to improve from the impact of COVID-19 on economic activity, but signs of an economic slowdown strengthened due to the prolonged situation in Ukraine, inflation and monetary tightening to curb inflation.」
Although the impact of COVID-19 on economic activity has eased, the situation in Ukraine, inflation and monetary tightening have strengthened signs of an economic slowdown. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the global economy showed signs of a stronger slowdown due to the prolonged situation in Ukraine, inflation caused by higher resource and energy prices, and monetary tightening to curb inflation, although the impact of COVID-19 on economic activity had begun to ease.」
Although the easing impact of COVID-19 supported recovery, the situation in Ukraine, higher resource and energy prices and monetary tightening strengthened signs of a global economic slowdown. - FY2023-Q3RestatedAnnual report
「During the third quarter of the current consolidated fiscal year, the global economic recovery slowed due to inflation caused by component shortages, including semiconductors, resulting from the spread of COVID-19, higher resource and energy prices associated with the situation in Ukraine, and other factors, as well as volatility in financial and capital markets. In Japan, private consumption and capital investment have begun to recover as restricted economic and social activity moves toward normalization, but the outlook became uncertain due to inflation caused by higher resource and energy prices and the sharp depreciation of the yen, as well as the impact of supply constraints.」
The slowdown in the recovery due to infections, component shortages, the situation in Ukraine, higher resource and energy prices, volatility in financial and capital markets and other factors has continued. In Japan, the sharp depreciation of the yen and supply constraints are also identified as sources of uncertainty for the outlook. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current consolidated fiscal year, the global economic recovery slowed due to component shortages, including semiconductors, caused by the renewed spread of COVID-19, higher resource and energy prices associated with the situation in Ukraine, and volatility in financial and capital markets.」
In addition to the renewed spread of infections, component shortages and higher resource and energy prices associated with the situation in Ukraine, volatility in financial and capital markets is also identified as a factor slowing the recovery. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the global economic recovery slowed due to component shortages, including semiconductors, caused by the spread of COVID-19 variants and rising resource and energy prices associated with the situation in Ukraine.」
In addition to the existing risks to the overseas business environment arising from infections, shortages and regional conditions, the company explicitly identifies higher resource and energy prices associated with the situation in Ukraine and states that the global economic recovery has slowed. - FY2022-Q3RestatedAnnual report
「High-performance materials centered on "P-BLOCK" saw increases in sales volumes and revenue as demand recovered gradually and the adoption of new automotive components expanded, despite the impact of restrictions on activity resulting from the renewed spread of COVID-19 and shortages of components such as semiconductors. By region, sales in Japan increased, particularly in the automotive sector. In North America, sales increased moderately due to production adjustments at automakers. In South America, automotive sales increased. In Europe, sales increased in both the automotive and non-automotive sectors. In Asia, the cushioning packaging materials sector in China and Taiwan remained solid.」
Although the renewed spread of infections, component shortages and production adjustments by automakers continue, sales volumes and revenue have increased due to regional recovery in demand and the expanded adoption of new automotive components. - FY2022-Q2Regional recovery in demand coexists with supply constraintsAnnual report
「High-performance materials centered on "P-BLOCK" saw increases in sales volumes and revenue due to recovering demand and the expanded adoption of new automotive components, despite the impact of restrictions on activity resulting from the renewed spread of COVID-19 and shortages of components such as semiconductors.」
Although the impact of renewed infections and component shortages remains, sales volumes and revenue from high-performance materials have increased due to recovering demand and the expanded adoption of new automotive components. - FY2022-Q1Recovery coexists with an uncertain outlookAnnual report
「During the first quarter of the current consolidated fiscal year, the global economy showed signs of recovery in some regions as restrictions on economic activity were gradually eased due to progress in vaccinations and other factors, despite the continuing impact of COVID-19. However, the outlook became uncertain due to the renewed spread of infections caused by variants and the impact on supply chains from semiconductor shortages.」
While vaccinations and the easing of restrictions on economic activity supported recovery, the renewed spread of infections and the impact of semiconductor shortages on supply chains are also identified as new sources of uncertainty. - FY2021RestatedAnnual report
「Our Group operates extensively across North America, South America, Europe and Asia, but political or economic factors in each region, investment approvals affected by environmental regulations and other factors, transfer pricing tax issues, changes in social conditions and regulatory trends, labor disputes, difficulties in securing personnel and fluctuations in exchange rates may disrupt business activities in those regions and affect our Group's operating results and financial condition.」
While continuing to identify political, economic, regulatory and foreign exchange risks associated with the overseas business, the company specifies environmental regulations, transfer pricing taxation, labor disputes and difficulties in securing personnel as additional factors. - FY2021-Q3Progress in recovery across overseas regions coexists with domestic weaknessAnnual report
「Overseas, sales of Paver Base paving subbase material in North America and cushioning packaging materials in Taiwan remained strong, while a clear recovery trend emerged in the automotive sectors of Europe and China and other areas.」
In the overseas business, some applications in North America and Taiwan performed strongly, and a clear recovery trend emerged in the automotive sectors of Europe and China. In Japan, however, the automotive sector and other areas remained sluggish, with regional differences continuing. - FY2021-Q2Recovery in sales after the reopening of economic activity coexists with regional weaknessAnnual report
「High-performance materials centered on "P-BLOCK" saw declines in sales volumes and revenue due to the impact of lockdowns resulting from the spread of COVID-19 and the suspension of operations at automakers' plants. After economic and social activity gradually resumed, sales began to recover, supported by the resumption of production by automakers and the expansion of various applications. By region, sales in Japan were sluggish, particularly in the automotive sector. In North America, sales of the Paver Base paving subbase material remained strong, while automotive sales were sluggish. Automotive sales were sluggish in Europe and South America. In Asia, sales of cushioning packaging materials in Taiwan remained strong, while automotive sales and other sales in China and South Korea were sluggish.」
Although sales declines caused by lockdowns and the suspension of automakers' plants continued, sales began to recover after economic activity resumed, supported by the resumption of automakers' production and the expansion of applications. By region, some areas, particularly the automotive sector, remain sluggish. - FY2021-Q1MaterialisedAnnual report
「High-performance materials centered on "P-BLOCK" saw declines in sales volumes and revenue due to the impact of lockdowns resulting from the spread of COVID-19 and the suspension of operations at automakers' plants, despite the adoption of new automotive components and the expansion of various applications. By region, sales volumes in Japan remained sluggish, particularly in the automotive sector. In North America, sales of the Paver Base paving subbase material remained strong, while automotive sales declined. In South America, sales in the automotive and agricultural sectors increased. In Europe, automotive sales remained solid. In Asia, returnable containers and automotive sales in Taiwan remained strong, while automotive sales and other sales in China and South Korea remained sluggish.」
Lockdowns, the suspension of operations at automakers' plants and lower regional demand for automobiles have emerged in the actual business as declines in sales volumes and revenue, including overseas operations. - FY2020-Q3MaterialisedAnnual report
「In North America, sales of automotive components, flat cushioning materials, returnable containers and other products remained sluggish, partly due to strikes by major automakers. In South America, sales remained solid due to products for new agricultural applications and other areas. In Europe, sales were at the level of the same period of the previous year despite the impact of the economic slowdown. In Asia, sales volumes increased due to the expansion of various applications and other factors, despite the impact of trade tensions between the United States and China and lower automobile production.」
Strikes by major automakers, trade tensions between the United States and China, lower automobile production and the economic slowdown in Europe have had an actual impact on sales in North America, Europe and Asia. In some regions, the expansion of applications and products for the agricultural sector have mitigated the impact. - FY2020-Q2MaterialisedAnnual report
「In North America, sales of automotive components, flat cushioning materials, returnable containers and other products remained sluggish. In South America, sales of products for new agricultural applications and other areas progressed steadily. In Europe, sales were at the level of the same period of the previous year despite the impact of the economic slowdown. In Asia, sales remained solid despite the impact of trade tensions between the United States and China and other factors.」
Trade tensions between the United States and China, the economic slowdown and regional differences in demand have emerged in the overseas business as sluggish conditions in North America, sales at the level of the same period of the previous year in Europe, and continuing impacts in Asia. South America, meanwhile, continued to perform steadily due to products for new agricultural applications and other areas. - FY2020-Q1MaterialisedAnnual report
「In North America, sales of automotive components, flat cushioning materials, returnable containers and other products remained sluggish. In South America, sales of products for new agricultural applications and other areas progressed steadily, but remained at the level of the same period of the previous year. In Europe, sales remained solid despite the impact of the economic slowdown. In Asia, sales declined due to the impact of trade tensions between the United States and China and other factors.」
Trade tensions between the United States and China, the economic slowdown and regional differences in demand have emerged in the overseas business as sluggish sales in North America and Asia and flat sales in South America. European sales, however, remained solid, with the impacts differing by region. - FY2019-Q3MaterialisedAnnual report
「In South America, sales remained strong, supported by a recovery in Brazilian automobile production and other factors. In Europe, sales remained solid despite the impact of the economic slowdown. In Asia, sales in China remained strong, while sales in South Korea declined.」
While Brazil's recovery is a positive factor, the economic slowdown in Europe and the decline in South Korean sales have been reported as actual impacts on the overseas business. Conditions continue to vary by region, with both improvement and deterioration. - FY2019-Q2MaterialisedAnnual report
「In South America, sales remained strong, supported by a recovery in Brazilian automobile production and other factors. In Europe, sales remained solid despite the impact of the economic slowdown. In Asia, sales in China and Taiwan and elsewhere remained strong despite the impact of the economic slowdown in South Korea.」
While Brazil's recovery is a positive factor, the economic slowdowns in Europe and South Korea have been reported as actual impacts on sales, and regional differences in the overseas business environment continue. - FY2019-Q1Improvement and slowdown coexist across regionsAnnual report
「In Brazil, although the economy has not yet achieved a full-fledged recovery, signs of improvement have begun to emerge, supported by a recovery in automobile production. In Europe, the recovery in private consumption resulting from improved employment conditions continued, but economic growth slowed due to sluggish exports caused by the stronger euro and a slowdown in overseas economies, as well as sluggish automobile sales. In Asia, solid growth continued in China and elsewhere, but the economies of some regions, including South Korea, stagnated due to lower industrial production and other factors.」
While Brazil's automobile production is recovering and China and other economies are growing, a slowdown in European growth and stagnation in parts of Asia, including South Korea, have also been reported. Improvement and risk factors in the overseas business environment are mixed by region. - FY2018Continued improvement in the overseas business environmentAnnual report
「In Brazil, the economy has begun to show signs of recovery, supported by a stable real, lower inflation and a recovery in exports. Overseas sales increased in both volume and value, as sales remained strong in all regions.」
Although the overseas business risk itself remains, the company reports signs of an economic recovery in Brazil and strong sales across all regions. - FY2018-Q3Continued improvement in the overseas business environmentAnnual report
「In Brazil, the economy has begun to show signs of recovery, supported by a stable real, lower inflation and a recovery in exports. In South America, sales increased due to a recovery in Brazilian automobile production and the development of new demand. In Europe, sales increased due to higher demand for automotive components and other factors. In Asia, sales increased as business remained strong in all regions, including China, Southeast Asia, Taiwan and South Korea.」
Although no significant changes are identified in business and other risks, the company reports signs of an economic recovery in Brazil and higher sales in South America, Europe and Asia. - FY2018-Q2Improvement in the overseas business environmentAnnual report
「In Brazil, the economy has begun to show signs of bottoming out, supported by a stable real, lower inflation and a recovery in exports.」
Although no significant changes are identified in overseas business risks, the improvement in the foreign exchange and economic environment in Brazil is noted, and sales increases are reported across regions including South America. - FY2018-Q1MaterialisedAnnual report
「The Group's sales exceeded the level of the same period of the previous year. Although overseas operations were affected by lower yen-converted values of foreign-currency amounts due to the weakness of major currencies, the increase in sales volumes and product price revisions accompanying higher raw material prices contributed to the increase.」
The decline in yen-converted values of foreign-currency amounts in the overseas business due to the weakness of major currencies has had an actual impact on performance this quarter. - FY2017MaterialisedAnnual report
「In North America, sales volumes increased due to higher demand for automotive components and expansion into new fields, but sales declined partly because of lower product prices and the impact of the stronger yen on the yen-converted value of foreign-currency amounts. In South America, sales declined due to lower automobile sales resulting from the sluggish Brazilian economy, as well as the impact of the stronger yen on the yen-converted value of foreign-currency amounts.」
Lower product prices, the reduction in yen-converted values caused by the stronger yen and the sluggish Brazilian economy have emerged in the current fiscal year as factors behind lower sales in North and South America. - FY2017-Q3RestatedAnnual report
「In North America, sales volumes increased due to higher demand for automotive components and expansion into new fields, but sales declined partly because of lower product prices and the impact of the stronger yen on the yen-converted value of foreign-currency amounts. In South America, sales declined due to lower automobile sales resulting from the sluggish Brazilian economy, as well as the impact of the weaker real on the yen-converted value of foreign-currency amounts.」
The impact of product prices, foreign exchange rates and the Brazilian economy on the overseas business continues to be reported in North and South America. The business and other risks section states that there have been no significant changes. - FY2017-Q2RestatedAnnual report
「In Brazil, although the real's depreciation was contained, domestic demand remained sluggish and the economic deterioration continued. Sales declined partly due to lower product prices and the impact of the stronger yen on the yen-converted value of foreign-currency amounts.」
The impact of Brazil's sluggish economy, product prices and the stronger yen on the overseas business continues to be reported. The business and other risks section states that there have been no significant changes. - FY2017-Q1MaterialisedAnnual report
「In South America, sales declined due to lower automobile sales resulting from the sluggish Brazilian economy, as well as the impact of the weaker real on the yen-converted value of foreign-currency amounts. Sales in the Beads business were ¥16,329 million, down 6.0% year on year, while operating profit was ¥1,777 million, up 28.6%.」
The sluggish Brazilian economy, the weaker real and the stronger yen have emerged as factors behind the decline in overseas sales this quarter through their translation impact on the overseas business. The risk items themselves are stated to have undergone no significant changes. Beads business sales, including the revised impact of the overseas business, were down 6.0% year on year.citeturn0search0 - FY2016First statedAnnual report
「Our Group operates extensively across the Americas, Europe and Asia, but changes in the political, economic and social conditions and regulatory trends in each region, as well as fluctuations in exchange rates, may affect demand in those regions and our Group's business structure.」
Political, economic and social conditions, regulations and exchange rate fluctuations associated with global operations are identified as overseas business risks.