Geopolitical risks arising from U.S.-China confrontation, the invasion of Ukraine and other factors
First written in FY2023. 3 of 6 entries say "Worsened", first in FY2025-H1. Latest entry: 2026-08-04.
Nagase & moved to the "Worse" side of this theme in 2024, 2 years after the typical company in this theme (2022).
The whole theme swung hardest in 2022: 46 of 79 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- 2026-08-04MaterialisedEarnings presentation
「ホルムズ海峡の封鎖を受けて、ナフサ不足が発生。」
地政学リスクがホルムズ海峡の封鎖とナフサ不足という具体的な事象として現れている。 - FY2026WorsenedAnnual report
「Geopolitical risks Taiwan contingency, economic frictions between regions (including US-China tensions), protracted situation in Iran, terrorism and riots, and other geopolitical issues」
Geopolitical risk remained an important category on the risk map, with business and supply chain constraints arising from tariff increases, investment restrictions, and political and military tensions specified in greater detail. - FY2025WorsenedAnnual report
「Uncertainty continued against a backdrop including new US trade and tariff policies.」
In addition to the existing US-China tensions and the situation in Ukraine, the company identified new US trade and tariff policies as geopolitical and business environment risks. - FY2025-H1WorsenedAnnual report
「Against a backdrop of continued global instability, including soaring resource prices and energy costs resulting from heightened geopolitical risks and logistics disruptions caused by natural disasters, the outlook for the economy remains uncertain.」
The company states that the external environment, including geopolitical risks, remains unstable, with soaring resource prices and energy costs and logistics disruptions caused by natural disasters. - FY2024-Q1RestatedAnnual report
「Looking at the regions where the Group operates, economic activity and economic conditions in Greater China had been recovering following the lifting of the zero-COVID policy, but the pace of recovery has recently been slowing, partly because exports have been sluggish amid the slowdown in the global economy.」
Regarding geopolitical and regional conditions, recovery following the lifting of the zero-COVID policy coexists with sluggish exports and a slowing recovery due to the global economic slowdown. The business and other risks section states that there have been no material changes. - FY2023First statedAnnual report
「・Risk that business activities in the US and Chinese markets will be constrained as a result of trade restrictions and economic sanctions arising from US-China tensions ・Risk that business activities will be affected by supply chain disruptions and soaring energy prices resulting from the invasion of Ukraine」
Geopolitical risk was identified as a standalone risk category, covering US-China tensions, the invasion of Ukraine, and political and military tensions in specific regions, and assessed as impact II and likelihood II.