Economic Slowdown in Emerging Asian Economies and Uncertainty About the Outlook
First written in FY2016-Q2. 19 of 36 entries say "Worsened", first in FY2016-Q3. Latest entry: 2026-10-02.
The whole theme swung hardest in 2022: 125 of 168 companies on the "Worse" side.
- 2026-10-02RestatedEarnings
「Globally, uncertainty about the outlook continued amid the increasingly tense situation in the Middle East, developments in U.S. trade policy and concerns over a slowdown in the Chinese economy.」
The situation in the Middle East, U.S. trade policy and concerns over a slowdown in the Chinese economy continued to be cited as sources of uncertainty for the global economy. - FY2026-H1WorsenedAnnual report
「Globally, conditions remained uncertain going forward due to US policy developments, the outlook for China's economy and mounting tensions in the Middle East.」
In addition to the previous references to US policy and China's economy, mounting tensions in the Middle East were explicitly identified as a new, concrete factor behind uncertainty in the global economy. - 2026-06-29WorsenedEarnings presentation
「Although performance to date has exceeded expectations, the consolidated earnings forecasts were left unchanged after carefully considering the impact of higher naphtha and other raw material prices resulting from the situation in the Middle East and higher costs caused by the weaker yen.」
Higher raw material prices resulting from the situation in the Middle East were newly identified as a factor contributing to uncertainty in the global economy and business environment. - FY2025-H1ReframedAnnual report
「Globally, conditions remained uncertain going forward due to US policy developments and the outlook for China's economy. In Japan, the economy showed a moderate recovery, supported by solid inbound demand and improved private consumption, but the impact of rising prices and geopolitical risks is a concern as a downside factor.」
The explanation of uncertainty in the global economy shifted to one citing US policy developments, the outlook for China's economy, rising prices and geopolitical risks as factors. Improvements in domestic inbound demand and private consumption were also noted. - FY2024RestatedAnnual report
「Although the global economy is expected to achieve solid growth against the backdrop of easing inflation and a recovery in trade, downside risks remain high.」
While the outlook for growth resulting from easing inflation and a recovery in trade was presented, the prolonged property-market slump in China and trade tensions resulting from US protectionism remain factors clouding the outlook. - FY2024-Q2WorsenedAnnual report
「Despite the impact of prolonged monetary tightening, the global economy maintained a growth trajectory, albeit at a moderate pace. In Japan, concerns remain over a temporary economic stagnation caused by reduced automobile production, while globally, the intensifying conflict surrounding the situation in the Middle East is also a concern that could weigh on the economy, although」
In addition to monetary tightening, a temporary domestic economic stagnation caused by reduced automobile production and intensifying conflict surrounding the situation in the Middle East were explicitly identified as concerns. At the same time, signs of a recovery in the US labor market and European private consumption were also cited. - FY2024-Q1WorsenedAnnual report
「During the first 3 months of the fiscal year, the global economy slowed moderately due to weaker consumption resulting from worldwide price increases and monetary tightening, as well as a downturn in China's property-related industries. Expectations for an economic recovery have increased amid solid growth in emerging-market economies and, in Japan, rising inbound demand and a recovery in services consumption, but geopolitical risks including the prolonged crisis in Ukraine and US-China tensions are causes for concern as adverse factors for the economy.」
In addition to the previous concerns over a slowdown caused by high prices and monetary tightening, the downturn in China's property-related industries and US-China tensions were explicitly identified. At the same time, recovery factors in emerging markets and parts of Japan were also cited. - FY2023WorsenedAnnual report
「The global economy continues to face a high level of downside risk. The prolonged Russian invasion of Ukraine, the Israel-Hamas conflict and the possibility that election results in major countries and regions in 2024 could increase uncertainty about the outlook have brought geopolitical risks to the fore. In addition, the prolonged depreciation of the yen in Japan and the continued slump in China's property market suggest that uncertain economic conditions will persist.」
In addition to the prolonged invasion of Ukraine, the Israel-Hamas conflict, elections in major countries and regions in 2024, the prolonged depreciation of the yen and the slump in China's property market were explicitly identified as new factors clouding the outlook. - FY2023-Q3RestatedAnnual report
「Expectations for an economic recovery have increased as economies normalize after the COVID-19 pandemic, supply constraints ease and inflation slows, but the prolonged crisis in Ukraine, continued monetary tightening in the US and Europe and a slowdown in China's economy are causes for concern as adverse factors for the economy.」
While expectations for a recovery resulting from economic normalization, easing supply constraints and slowing inflation were expressed, the crisis in Ukraine, monetary tightening and the slowdown in China's economy continue to be viewed as adverse factors. - FY2023-Q2WorsenedAnnual report
「During the first 6 months of the fiscal year, the global economy slowed moderately due to worldwide price increases and monetary tightening. Expectations for an economic recovery have increased as economic activity normalizes in Japan, China lifts its zero-COVID policy and global inflation shows signs of slowing, but the prolonged crisis in Ukraine and financial instability resulting from interest-rate hikes in the US and Europe are causes for concern as adverse factors for the economy.」
In addition to the slowdown caused by worldwide price increases and monetary tightening, the prolonged crisis in Ukraine and financial instability resulting from interest-rate hikes in the US and Europe were explicitly identified as new concerns. At the same time, expectations for a recovery resulting from China's lifting of its zero-COVID policy and slowing inflation were also cited. - FY2023-Q1WorsenedAnnual report
「During the first 3 months of the fiscal year, the global economy slowed moderately due to weaker consumption resulting from worldwide price increases and monetary tightening, as well as the renewed spread of COVID-19 in China.」
In addition to weaker consumption resulting from worldwide price increases and monetary tightening and the renewed spread of infections in China, the prolonged crisis in Ukraine and US-China tensions were explicitly identified as geopolitical risks. - FY2022WorsenedAnnual report
「The global economy was recovering from the COVID-19 crisis on both the demand and supply sides, but the pace of recovery is expected to slow due to persistently high inflation, monetary tightening, surging energy prices and slower growth in household incomes.」
Persistently high inflation, monetary tightening, surging energy prices and slower growth in household incomes became concrete factors behind the slowdown in the global economy. - FY2022-Q3WorsenedAnnual report
「However, the economy showed increasing signs of a slowdown as supply constraints resulting from the prolonged Russian invasion of Ukraine and stronger inflationary pressure driven by surging resource prices accelerated the pace of monetary tightening.」
The prolonged invasion of Ukraine, supply constraints, surging resource prices, inflationary pressure and the slowdown caused by monetary tightening were newly identified as concrete factors behind uncertainty in the global economy. - FY2022-Q2MaterialisedAnnual report
「During the first 6 months of the fiscal year, the global economy's recovery slowed as the spread of the Omicron variant and Russia's invasion of Ukraine weighed on growth. With stronger inflationary pressure, procurement constraints for raw materials and components, and the risks of China's zero-COVID policy also becoming apparent, global conditions are expected to remain highly uncertain.」
The spread of the Omicron variant and Russia's invasion of Ukraine were cited as downside factors for the global economy, while the risks of China's zero-COVID policy were also said to have become apparent. - FY2022-Q1WorsenedAnnual report
「During the first 3 months of the fiscal year, the global economy showed increasing signs of a slowdown due to the spread of the Omicron variant of COVID-19 and higher costs resulting from elevated raw-material prices and supply constraints. Against the backdrop of the crisis in Ukraine, a global stock-market decline and prolonged inflation resulting from surging resource prices are currently causes for concern, and conditions are expected to remain unclear going forward.」
In addition to the previous references to the spread of infectious disease, economic slowdown and uncertainty, the Omicron variant, higher raw-material prices and supply constraints, the crisis in Ukraine, falling stock prices, surging resource prices and prolonged inflation were explicitly identified as new factors clouding the outlook. - FY2021WorsenedAnnual report
「Meanwhile, the economic recovery has raised concerns over global inflation resulting from supply shortages caused by increased demand, disruptions to supply chains and higher raw-material costs. With new variants also emerging recently, economic activity is expected to remain highly uncertain and heavily dependent on the status of infections.」
Supply shortages, supply-chain disruptions and higher raw-material costs during the economic recovery, together with the emergence of new variants, became more concrete factors clouding the outlook. - FY2021-Q3WorsenedAnnual report
「During the first 9 months of the fiscal year, the US, where vaccination progressed, and China, which successfully contained the spread of infections, initially showed economic recoveries, but concerns over a slowdown increased as the highly transmissible Delta variant spread. In Southeast Asia and Japan, where vaccination lagged, restrictions on travel and economic activity continued, leaving recoveries weak. With concerns also emerging over slower consumption due to renewed infections, higher costs resulting from rising resource prices and semiconductor shortages, the economic recovery is expected to remain uncertain.」
In addition to the previous references to the spread of infectious disease and restrictions on economic activity, the Delta variant, slower consumption, higher resource prices and semiconductor shortages were explicitly identified as new factors clouding the outlook. - FY2021-Q2WorsenedAnnual report
「Although the global economy is expected to recover as vaccines become more widely available, concern over new virus variants and inflation is mounting.」
While the outlook for recovery through wider vaccine availability was presented, new risk factors, namely new virus variants and inflation, were explicitly identified, broadening the factors clouding the outlook for the global economy. - FY2021-Q1WorsenedAnnual report
「During the first 3 months of the fiscal year, the pace of the global economic recovery slowed as the spread of COVID-19 reaccelerated. China, which had successfully contained the spread of infections, recovered to its pre-pandemic GDP level and continued to expand, but in Europe, the US and Japan, conditions remained unclear as travel and economic activity were restricted again.」
The reacceleration in the spread of COVID-19, the slowdown in the global economic recovery and restrictions on activity in regions including Japan were explicitly identified, increasing uncertainty about the outlook. - FY2020RestatedAnnual report
「During the fiscal year, the global economy contracted sharply under the impact of COVID-19 and then recovered gradually, but recorded substantial negative growth. China recovered to its pre-pandemic GDP level, but in Europe, the US and Japan, the outlook remained unclear amid the accelerating spread of infections and deteriorating employment and income conditions.」
Although the global economy showed a gradual recovery after its sharp contraction, uncertainty about the outlook continued amid the spread of infections and deteriorating employment and income conditions. - FY2020-Q3RestatedAnnual report
「During the first 9 months of the fiscal year, Japan's economy was gradually recovering initially, with employment conditions and corporate earnings improving, but conditions became severe as the economy deteriorated rapidly under the impact of the subsequent global spread of COVID-19. The global economy also continued to slow, and conditions remained unclear going forward.」
The rapid deterioration in Japan's economy caused by the spread of COVID-19, together with the slowdown in the global economy and uncertainty about the outlook, continued. - FY2020-Q2WorsenedAnnual report
「During the first 6 months of the fiscal year, Japan's economy was gradually recovering in the first half, with employment conditions and corporate earnings improving, but conditions became severe in the second half as the economy deteriorated rapidly under the impact of the global spread of COVID-19. At the same time, the global economy continued to deteriorate, and uncertainty about the outlook increased.」
In addition to the previous references to economic slowdown and uncertainty, the rapid deterioration in economic conditions and rising uncertainty about the outlook resulting from the global spread of COVID-19 were explicitly identified. - FY2020-Q1WorsenedAnnual report
「However, amid the impact of uncertainty in the global economy, including the prolonged US-China trade tensions and downside risks to the economy arising from the impact of the COVID-19 pandemic, conditions remained unclear going forward.」
In addition to the previous references to a slowdown in China's economy and US-China trade tensions, the prolonged trade tensions and downside economic risks arising from the COVID-19 pandemic were explicitly identified. - FY2019-Q3WorsenedAnnual report
「However, amid the impact of uncertainty in the global economy, including concerns over a slowdown in China's economy, intensifying US-China trade tensions and mounting tensions in the Middle East, conditions remained unclear going forward.」
In addition to a slowdown in China's economy and US-China trade tensions, mounting tensions in the Middle East were newly identified as factors behind uncertainty in the global economy. - FY2019-Q1WorsenedAnnual report
「However, amid the impact of uncertainty in the global economy, including concerns over a slowdown in China's economy and an intensification of trade tensions resulting from US trade policy, conditions remained unclear going forward.」
The previous reference to the outlook for the economies of emerging Asian countries, including China, was expanded to specifically cite a slowdown in China's economy, making the uncertainty in the global economy more concrete. - FY2018ReframedAnnual report
「However, amid the impact of uncertainty in the global economy arising from the outlook for emerging Asian countries such as China and concerns over an intensification of trade tensions resulting from US trade policy, conditions remained unclear going forward.」
The outlook for emerging Asian countries, including China, and concerns over an intensification of trade tensions resulting from US trade policy were cited as factors behind uncertainty in the global economy. - FY2018-Q3ReframedAnnual report
「However, amid the impact of uncertainty in the global economy arising from the outlook for emerging Asian countries such as China and concerns over an intensification of US-China trade tensions, conditions remained unclear going forward.」
The explanation of uncertainty in the global economy shifted from the previous reference to an economic slowdown in emerging Asian countries to one attributing it to the outlook for emerging Asian countries, including China, and concerns over an intensification of US-China trade tensions. - FY2018-Q2RestatedAnnual report
「However, amid the impact of uncertainty in the global economy arising from the outlook for the economies of emerging Asian countries such as China and instability in East Asia, conditions remained unclear going forward.」
Uncertainty in the global economy arising from the outlook for emerging Asian countries, including China, and the situation in East Asia continued to be cited. - FY2018-Q1RestatedAnnual report
「However, amid the impact of uncertainty in the global economy arising from the outlook for the economies of emerging Asian countries such as China and instability in East Asia, conditions remained unclear going forward.」
Uncertainty in the global economy arising from the outlook for emerging Asian countries, including China, and the situation in East Asia was reiterated. - FY2017RestatedAnnual report
「However, amid the impact of uncertainty in the global economy arising from US government policy developments and instability in East Asia, conditions remained unclear going forward.」
Uncertainty in the global economy and the lack of visibility ahead, driven by US government policy developments and the situation in East Asia, were also cited for the full year. - FY2017-Q3ReframedAnnual report
「During the first 9 months of the fiscal year, Japan's economy showed a gradual recovery, with corporate earnings and employment conditions trending upward and signs of a recovery in private consumption and capital investment. However, amid the impact of uncertainty in the global economy arising from US government policy developments and instability in East Asia, conditions remained unclear going forward.」
The explanation of uncertainty in the global economy shifted from one centered on the economic slowdown in emerging Asian countries to one attributing it to US government policy developments and instability in East Asia. - FY2017-Q2RestatedAnnual report
「However, amid rising uncertainty in the global economy, including economic slowdowns in emerging Asian countries such as China, conditions remained unclear going forward.」
The economic slowdown in emerging Asian countries, including China, and uncertainty in the global economy continue to be cited as factors clouding the outlook. - FY2017-Q1RestatedAnnual report
「However, amid rising uncertainty in the global economy, including economic slowdowns in emerging Asian countries such as China, conditions remained unclear going forward.」
The economic slowdown in emerging Asian countries, including China, and uncertainty in the global economy continue to be cited as factors clouding the outlook. - FY2016RestatedAnnual report
「However, amid rising uncertainty in the global economy, including economic slowdowns in emerging Asian countries and the issue of the UK's withdrawal from the EU, conditions remained unclear going forward.」
The uncertainty in the global economy, including the economic slowdown in emerging Asian countries and the UK's withdrawal from the EU, was cited as the same risk in the full-year discussion. - FY2016-Q3WorsenedAnnual report
「However, amid rising uncertainty in the global economy, including economic slowdowns in emerging Asian countries and the issue of the UK's withdrawal from the EU, conditions remained unclear going forward.」
In addition to the economic slowdown in emerging Asian countries, the UK's withdrawal from the EU was cited, broadening recognition of these factors as risks arising from heightened uncertainty in the global economy. - FY2016-Q2First statedAnnual report
「However, conditions remained uncertain, with the economic slowdown in emerging Asian markets and elsewhere posing a downside risk to the economy.」
The economic slowdown in emerging Asian markets was identified as a downside risk to the economy.