Economic environment marked by sluggish personal consumption and capital investment
First written in FY2017-Q3. 24 of 30 entries say "Reframed", first in FY2017. Latest entry: FY2026.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
- FY2026ReframedAnnual report
「During the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption and capital investment showing signs of recovery against a backdrop of increased inbound demand. However, the outlook remained uncertain due to growing geopolitical risks centered on the situation in the Middle East and developments concerning U.S. trade policy.」
The company indicates a recovery trend driven by personal consumption, capital investment and inbound demand, while explicitly identifying geopolitical risks centered on the situation in the Middle East and U.S. trade policy as factors contributing to uncertainty over the outlook. - FY2026-H1ReframedAnnual report
「During the six months ended the interim consolidated accounting period, the Japanese economy continued on a moderate recovery trend against a backdrop of improving employment and income conditions. However, the outlook remained uncertain due to continued price increases, the impact of U.S. trade policy and rising geopolitical risks.」
The economic assessment has been updated to indicate a moderate recovery due to improving employment and income conditions, while also citing uncertainty over the outlook arising from rising prices, U.S. trade policy and heightened geopolitical risks. - FY2025-H1ReframedAnnual report
「During the six months ended the interim consolidated accounting period, the Japanese economy continued on a moderate recovery trend, with personal consumption showing signs of recovery against a backdrop of strong capital investment and increased inbound demand. However, the outlook remained uncertain due to prolonged geopolitical risks, continued high prices and the risk of higher interest rates.」
The company indicates a moderate recovery driven by personal consumption, capital investment and inbound demand, while newly specifying uncertainty over the outlook due to geopolitical risks, high prices and the risk of higher interest rates. - FY2024-Q3ReframedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, centered on inbound demand, as economic activity normalized, despite the effects of rising prices.」
The economic assessment has been updated to indicate a moderate recovery centered on the normalization of economic activity and inbound demand, while also citing the effects of rising prices. - FY2024-Q2ReframedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, centered on personal consumption and inbound demand, as economic activity normalized, despite the effects of rising prices.」
The economic assessment has been updated to indicate a recovery in personal consumption and inbound demand as economic activity normalizes, while newly including the effects of rising prices. - FY2024-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, centered on personal consumption, as social and economic activity normalized, despite the effects of the slowdown in overseas economies and rising prices.」
While recognizing a recovery centered on personal consumption due to the normalization of social and economic activity, the company explicitly identifies the slowdown in overseas economies and rising prices as factors affecting the economic environment. - FY2023ReframedAnnual report
「During the consolidated fiscal year, the Japanese economy showed signs of recovery, mainly in personal consumption. However, the outlook remained uncertain due to the prolonged surge in resource and energy prices and the slowdown in overseas economies accompanying interest-rate hikes by central banks in various countries.」
While recognizing the recovery in personal consumption, the company newly specifies the prolonged surge in resource and energy prices and the slowdown in overseas economies accompanying interest-rate hikes by central banks in various countries. - FY2023-Q3ReframedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy showed signs of recovery, mainly in personal consumption, as social activity recovered from the effects of COVID-19. However, the outlook remained uncertain due to the prolonged surge in resource and energy prices and the slowdown in overseas economies.」
While recognizing the recovery in social activity from the pandemic and the recovery in personal consumption, the company has updated its economic assessment to reflect an uncertain outlook due to the prolonged surge in resource and energy prices and the slowdown in overseas economies. - FY2023-Q2ReframedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy showed signs of recovery, mainly in personal consumption, as social activity recovered from the effects of COVID-19. However, the outlook remained uncertain due to the prolonged surge in resource and energy prices and rapid yen depreciation.」
While recognizing the recovery in social activity from the pandemic and the recovery in personal consumption, the company has updated its economic assessment to reflect an uncertain outlook due to the prolonged surge in resource and energy prices and rapid yen depreciation. - FY2023-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy showed signs of recovery, mainly in personal consumption, as social and economic activity normalized. However, the outlook remained uncertain due to surging resource and energy prices, rapid yen depreciation and the recent resurgence of COVID-19 infections.」
While recognizing the normalization of social activity and the recovery in personal consumption, the company has updated its economic assessment to reflect an uncertain outlook due to surging resource and energy prices, rapid yen depreciation and the resurgence of infections. - FY2022ReframedAnnual report
「During the consolidated fiscal year, economic activity in Japan showed signs of temporary recovery due to progress in COVID-19 vaccinations, but conditions remained difficult due to the resurgence of infections from new variants, soaring raw material prices and growing tensions surrounding the situation in Ukraine.」
While recognizing the recovery in economic activity due to vaccinations, the company has updated its assessment to reflect a difficult economic environment caused by new variants, soaring raw material prices and the situation in Ukraine. - FY2022-Q3ReframedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy showed signs of recovery as economic activity resumed following progress in COVID-19 vaccinations and the lifting of the state of emergency in October. However, the timing of the end of the pandemic remained unforeseeable, with infections from a new variant spreading rapidly, leaving the outlook uncertain.」
The company has updated its economic assessment to recognize the resumption of economic activity following vaccinations and the lifting of the state of emergency, while citing the rapid spread of a new variant and uncertainty over when the pandemic will end. - FY2022-Q2ReframedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy continued to recover, mainly in exports, from the downturn caused by COVID-19. Although the number of new infections continued to decline and the state of emergency was lifted, the timing of the end of the pandemic remained unforeseeable, leaving the outlook uncertain.」
While recognizing the recovery centered on exports, the decline in new infections and the lifting of the state of emergency, the company has updated its economic assessment to reflect an uncertain outlook because the timing of the end of the pandemic remains unforeseeable. - FY2022-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy showed signs of recovery, mainly in exports, but the outlook became uncertain as the state of emergency was reissued in April and there was still no sign that the COVID-19 pandemic was coming to an end.」
While recognizing the recovery centered on exports, the company has updated its economic assessment to reflect an uncertain outlook due to the reissuance of the state of emergency and the lack of signs that the pandemic is coming to an end. - FY2021-Q3ReframedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy remained in a difficult situation. Although personal consumption and exports showed signs of recovery following the lifting of the state of emergency in May, there was still no sign that the COVID-19 pandemic was coming to an end.」
While recognizing the recovery in personal consumption and exports following the lifting of the state of emergency, the company has updated its assessment to reflect a difficult economic environment that remains unchanged, with no sign of the pandemic coming to an end. - FY2021-Q2ReframedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy remained in a difficult situation due to the effects of COVID-19, although personal consumption and exports showed signs of recovery following the lifting of the state of emergency.」
While recognizing the recovery in personal consumption and exports following the lifting of the state of emergency, the economic assessment has changed to reflect an economic environment that remains difficult due to the pandemic. - FY2021-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy entered an extremely difficult situation by historical standards, as personal consumption and exports declined substantially due to the global spread of COVID-19.」
The economic assessment has changed from a moderate recovery trend to a recognition that COVID-19 has caused substantial declines in personal consumption and exports, resulting in an extremely difficult situation by historical standards. - FY2020-Q3RestatedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend. Although exports showed weakness due to the slowdown in overseas economies, domestic demand centered on personal consumption and capital investment remained resilient.」
The company continues to present an economic assessment that combines export weakness caused by the slowdown in overseas economies with resilient domestic demand centered on personal consumption and capital investment. - FY2020-Q2ReframedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend. Although exports showed weakness due to the slowdown in overseas economies, domestic demand centered on personal consumption and capital investment remained resilient.」
The economic assessment has changed to include export weakness caused by the slowdown in overseas economies, in addition to previously noted resilient domestic demand. - FY2020-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with domestic demand centered on personal consumption and capital investment remaining resilient.」
The economic assessment has changed from the prior period's reference to strong personal consumption, capital investment and exports to an emphasis on resilient domestic demand centered on personal consumption and capital investment. - FY2019RestatedAnnual report
「During the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption remaining resilient and capital investment and exports maintaining their strength.」
The company continues to recognize a moderate economic recovery supported by resilient personal consumption and strong capital investment and exports. - FY2019-Q3RestatedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption remaining resilient and capital investment and exports maintaining their strength.」
The company continues to recognize a moderate economic recovery supported by resilient personal consumption and strong capital investment and exports. - FY2019-Q2RestatedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption remaining resilient and capital investment and exports maintaining their strength.」
The company continues from the prior quarter to recognize a moderate economic recovery supported by resilient personal consumption and strong capital investment and exports. - FY2019-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with domestic demand centered on personal consumption and capital investment remaining resilient.」
The economic assessment has changed from the prior year's reference to the recovery in personal consumption and capital investment to an emphasis on resilient personal consumption and strong capital investment and exports. - FY2018RestatedAnnual report
「During the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption and capital investment showing signs of recovery and exports remaining strong against a backdrop of improving overseas economies.」
The company continues to recognize a moderate economic recovery supported by the recovery in personal consumption and capital investment and strong exports. - FY2018-Q3ReframedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption and capital investment showing signs of recovery and exports remaining strong against a backdrop of improving overseas economies.」
Personal consumption and capital investment are cited as recovering and exports as strong drivers of the economic recovery, with the wording changing from exports remaining resilient in the prior quarter. - FY2018-Q2ReframedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, with personal consumption and capital investment showing signs of recovery and exports remaining resilient against a backdrop of improving overseas economies.」
The description of the economic environment has improved from the prior quarter, with personal consumption and capital investment recovering and exports remaining resilient. - FY2018-Q1ReframedAnnual report
「During the six months ended the first quarter of the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend. Personal consumption remained weak due to sluggish real wage growth, while exports showed signs of recovery against a backdrop of improving overseas economies.」
The description states that personal consumption remains weak, while exports are recovering against a backdrop of improving overseas economies. - FY2017ReframedAnnual report
「During the consolidated fiscal year, the Japanese economy continued on a moderate recovery trend, although personal consumption remained stagnant due to sluggish growth in real wages, while capital investment and exports showed signs of recovery.」
The description of the business environment has changed to reflect continued stagnation in personal consumption, while capital investment and exports are showing signs of recovery. - FY2017-Q3First statedAnnual report
「Although the Japanese economy continued to recover moderately, it lacked strength as there were no clear growth drivers, with personal consumption and capital investment remaining sluggish.」
The business environment is described as one of sluggish personal consumption and capital investment and a lack of strength in the economic recovery.