Risk of an uncertain economic outlook due to US-China trade friction and deteriorating Japan-South Korea relations
First written in FY2020-Q2. 10 of 20 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026Added the Middle East situation and fluctuations in crude oil pricesAnnual report
「During the consolidated accounting year, the Japanese economy continued on a moderate recovery trend, supported by improvements in employment and income conditions and strong inbound demand. However, the outlook remained uncertain due to the risk of a global economic slowdown triggered by U.S. trade policy and heightened tensions in the Middle East, as well as prolonged inflation, among other factors.」
In addition to the previously cited U.S. trade policy and inflation, the company explicitly identified the risk of a global economic slowdown triggered by heightened tensions in the Middle East. - FY2026-H1RestatedAnnual report
「During the current interim consolidated accounting period, the Japanese economy continued on a moderate recovery trend, supported by improvements in employment and income conditions and strong inbound demand. However, the outlook remained uncertain due to the risk of a global economic slowdown resulting from the unstable international situation, including U.S. trade policy, and prolonged inflation, among other factors.」
While factors supporting the economic recovery were present, the company continued to cite the risk of a global economic slowdown resulting from the international situation, including U.S. trade policy, and prolonged inflation as factors contributing to uncertainty about the outlook. - FY2025U.S. trade policy and prolonged inflation addedAnnual report
「During the consolidated accounting year, the Japanese economy continued on a moderate recovery trend, supported by improvements in employment and income conditions and an increase in inbound demand. However, the outlook remained uncertain due to the risk of a slowdown in the global economy resulting from the unstable international situation, including U.S. trade policy, and prolonged inflation, among other factors.」
While identifying factors supporting the economic recovery, the company explicitly cited the risk of a global economic slowdown resulting from the international situation, including U.S. trade policy, and prolonged inflation as factors contributing to uncertainty about the outlook. - FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period, the Japanese economy recovered moderately, supported by domestic demand resulting from improvements in employment and income conditions and by inbound demand. However, the outlook remained uncertain due to the unstable international situation, the prolonged depreciation of the yen, and soaring energy prices, among other factors.」
While domestic and inbound demand were recovering, the company continued to identify the unstable international situation, the prolonged depreciation of the yen, and soaring energy prices as sources of uncertainty about the outlook. - FY2024-Q3WorsenedAnnual report
「During the third quarter of the current consolidated cumulative period, economic activity continued to move toward normalization following the change in the classification of COVID-19 under the Infectious Diseases Control Law. The economy recovered moderately, supported by domestic demand and growing inbound demand. However, the outlook remained uncertain due to the unstable international situation, soaring energy prices, and the worsening labor shortage, among other factors.」
While economic activity was moving toward normalization and domestic and inbound demand were recovering, the worsening labor shortage was identified as a new factor contributing to uncertainty about the outlook. - FY2024-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, economic activity continued to move toward normalization following the change in the classification of COVID-19 under the Infectious Diseases Control Law. The economy recovered moderately, supported by domestic demand and growing inbound demand. However, the outlook remained uncertain due to the unstable international situation resulting from the prolonged Russia-Ukraine situation, soaring raw material and energy prices, and exchange-rate movements, among other factors.」
While economic activity was moving toward normalization and domestic and inbound demand were recovering, the company continued to identify the international situation, raw material and energy prices, and exchange-rate movements as sources of uncertainty about the outlook. - FY2024-Q1Easing impact of the pandemic and continued international situation and inflation risksAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy recovered as the classification of COVID-19 under the Infectious Diseases Control Law was changed and the trend toward containment strengthened. However, the outlook remained uncertain due to soaring raw material and energy prices resulting from an unstable international situation, including the prolonged Russia-Ukraine situation, and the continued depreciation of the yen, among other factors.」
While the impact of the pandemic was moving toward containment and the economy was recovering, the company continued to identify the prolonged Russia-Ukraine situation, soaring raw material and energy prices, and the continued depreciation of the yen as new factors contributing to uncertainty about the outlook. - FY2023-Q3SoftenedAnnual report
「During the third quarter of the current consolidated cumulative period, the Japanese economy was moving toward normalization of economic activity as various measures against COVID-19 were implemented and vaccination progressed. However, the outlook remained uncertain due to developments in COVID-19, soaring raw material and energy prices resulting from an unstable international situation, and the depreciation of the yen, among other factors.」
While economic activity was moving toward normalization, the company continued to cite soaring raw material and energy prices and the depreciation of the yen as factors contributing to uncertainty about the outlook. The reference to the yen's "record depreciation" in the previous quarter has been removed. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current consolidated cumulative period, the Japanese economy was moving toward normalization of economic activity as various measures against COVID-19 were implemented and vaccination progressed. However, the outlook remained uncertain due to developments in COVID-19, soaring raw material and energy prices resulting from an unstable international situation, and the yen's record depreciation, among other factors.」
While economic activity was moving toward normalization, the company identified the soaring raw material and energy prices resulting from an unstable international situation, as well as the yen's record depreciation, as factors contributing to uncertainty about the outlook. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy was gradually moving toward normalization of economic activity as various measures against COVID-19 were implemented and vaccination progressed. However, the outlook remained uncertain due to developments in COVID-19, soaring raw material and energy prices resulting from an unstable international situation, and the rapid depreciation of the yen, among other factors.」
While economic activity was moving toward normalization, the company continued to identify the unstable international situation, soaring raw material and energy prices, and the rapid depreciation of the yen as factors contributing to uncertainty about the outlook. - FY2022RestatedAnnual report
「During the consolidated fiscal year, Japan's economic recovery remained stalled as the spread of COVID-19 led to the issuance of states of emergency and the implementation of priority preventive measures. In the second half, economic activity was moving toward normalization as the spread of infections subsided, but the outlook remained uncertain as people continued to refrain from going out and engaging in other activities.」
We continue to recognize delays in the economic recovery and uncertainty about the outlook due to COVID-19. - FY2022-Q3RestatedAnnual report
「During the first nine months of the consolidated fiscal year, signs of a recovery in personal consumption emerged against a backdrop of progress in COVID-19 vaccinations and the easing of economic activity, but concerns over the spread of new variants persisted. The outlook therefore remained highly uncertain, and it remained difficult to predict when the economy would recover.」
While there were signs of a recovery in personal consumption due to vaccinations and the easing of economic activity, uncertainty about the economic outlook continued amid concerns over new variants. - FY2022-Q2RestatedAnnual report
「Depending on the future status of COVID-19, business performance may be affected, and we will continue to closely monitor the situation.」
The company continues to recognize the status of COVID-19 as a risk that may affect business performance. It states that there are no new business risks. - FY2022-Q1RestatedAnnual report
「Depending on the future spread of COVID-19, business performance may be affected, and we will continue to closely monitor the situation.」
The company continues to recognize the spread of COVID-19 as a risk that may affect business performance. - FY2021-Q3RestatedAnnual report
「During the first nine months of the consolidated fiscal year, the Japanese economy deteriorated due to the impact of COVID-19, and a severe business environment with an uncertain outlook for economic activity continued.」
The company continues to recognize that the economy deteriorated due to COVID-19 and that a severe environment with an uncertain outlook for economic activity continued. - FY2021-Q2RestatedAnnual report
「During the first six months of the consolidated fiscal year, the Japanese economy deteriorated due to the impact of COVID-19, and severe conditions continued, with the outlook for economic activity remaining uncertain even after the lifting of the state of emergency.」
The company continues to recognize that the economy deteriorated due to COVID-19 and that severe conditions with an uncertain outlook continued even after the lifting of the state of emergency. - FY2021-Q1WorsenedAnnual report
「During the first three months of the consolidated fiscal year, the Japanese economy deteriorated rapidly due to the spread of COVID-19, and extremely severe conditions continued, with the outlook for economic activity remaining uncertain even after the lifting of the state of emergency.」
The company states that the Japanese economy deteriorated rapidly due to the spread of COVID-19 and that extremely severe conditions continued even after the lifting of the state of emergency. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, the Japanese economy remained on a gradual recovery trend, but the economic outlook became increasingly unpredictable amid natural disasters including successive typhoons, unstable overseas conditions such as US-China trade friction, and the impact of the spread of COVID-19 on economic activity.」
In addition to existing concerns such as US-China trade friction, the impact of the spread of COVID-19 on economic activity has increased uncertainty about the economic outlook. - FY2020-Q3RestatedAnnual report
「During the first nine months of the consolidated fiscal year, the Japanese economy continued a gradual recovery due to improvements in corporate earnings and the employment environment, but concerns over developments in US-China trade friction and deteriorating Japan-South Korea relations left the economic outlook uncertain.」
The company continues to recognize US-China trade friction and deteriorating Japan-South Korea relations as factors making the economic outlook uncertain. - FY2020-Q2First statedAnnual report
「During the first six months of the consolidated fiscal year, the Japanese economy continued a gradual recovery due to improvements in corporate earnings and the employment environment, but concerns over the impact of US-China trade friction and deteriorating Japan-South Korea relations left the economic outlook uncertain.」
US-China trade friction and deteriorating Japan-South Korea relations are mentioned for the first time as factors making the economic outlook uncertain.