Economic, Regulatory and Social Turmoil Risks in Overseas Markets
First written in FY2016. 15 of 28 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「Meanwhile, the outlook remained uncertain due to concerns about the impact on the economy of rising prices, the situation in the Middle East, and developments in US trade policies.」
It specified rising prices, US trade policies, and the situation in the Middle East as factors contributing to uncertainty about the outlook. - FY2026-H1WorsenedAnnual report
「During the interim consolidated fiscal period, Japan's economy maintained a moderate recovery trend, supported by a recovery in personal consumption resulting from improvements in employment and income conditions. However, the outlook remained uncertain due to continued price increases, persistently high geopolitical risks, and concerns about an economic downturn resulting from the impact of US trade policies.」
It cited rising prices, persistently high geopolitical risks, and concerns about an economic downturn resulting from US trade policies as factors contributing to uncertainty in the domestic and overseas economies. - FY2025WorsenedAnnual report
「・Rising geopolitical risks, including tensions between the United States and China and concerns about a contingency involving Taiwan ・Disruptions to operating activities caused by conditions and developments at overseas business locations」
Regarding overseas market risks, it specified tensions between the United States and China and concerns about a contingency involving Taiwan, and identified disruptions to operating activities caused by conditions at overseas locations as individual risks. - FY2025-H1Disclosure of the increase in overseas locations and measures to address foreign exchange riskAnnual report
「The Group has 137 locations in 12 countries worldwide. Although it operates its businesses based on conditions and developments in each country, unforeseen events such as changes in policies and laws and regulations or political factors could affect the Group's performance.」
The scale of the overseas footprint was updated from 124 locations in the previous disclosure to 137, expanding the scope of exposure to conditions, policies, laws and regulations in each country. It also disclosed measures to address foreign exchange risk, including forward exchange contracts, and the remaining risk. - FY2024Disclosure of the size of the overseas footprintAnnual report
「The Group has 124 locations in 12 countries worldwide. Although it operates its businesses based on conditions and developments in each country, unforeseen events such as changes in policies and laws and regulations or political factors could affect the Group's performance.」
It newly disclosed the scale of the overseas risk exposure as 124 locations in 12 countries worldwide. - FY2024-Q3WorsenedAnnual report
「During the first 3 quarters of the consolidated fiscal year, Japan's economy showed signs of economic activity normalizing as COVID-19 subsided. However, uncertainty about the outlook persisted due to growing and emerging geopolitical risks, persistently high prices for resources and raw materials, and concerns about the impact on the economy of monetary tightening in various countries.」
While describing the normalization of economic activity, it specifically cited growing and emerging geopolitical risks, in addition to the existing resource and raw material prices and monetary policies, as factors contributing to uncertainty about the outlook. - FY2024-Q2RestatedAnnual report
「During the first half of the consolidated fiscal year, Japan's economy showed signs of economic activity normalizing as COVID-19 subsided. However, uncertainty about the outlook persisted due to the depreciation of the yen, persistently high prices for resources and raw materials, and the impact on the economy of monetary tightening in various countries.」
While recognizing the normalization of economic activity, it continued to cite yen depreciation, persistently high resource and raw material prices, and the impact of monetary tightening in various countries as factors contributing to uncertainty about the outlook. - FY2024-Q1RestatedAnnual report
「During the first quarter of the consolidated fiscal year, Japan's economy showed signs of increased economic activity as COVID-19 moved toward containment. However, uncertainty about the outlook persisted due to the rapid depreciation of the yen, persistently high prices for resources and raw materials, and the view that monetary policies in various countries remained in a transitional phase.」
While describing the trend toward containment of COVID-19 and the increased activity of the economy, it continued to cite the rapid depreciation of the yen, persistently high resource and raw material prices, and monetary policies in various countries as factors contributing to uncertainty about the outlook. - FY2023-Q2RestatedAnnual report
「Meanwhile, the outlook remained uncertain and continued to be less than optimistic amid surging resource and raw material prices and the rapid depreciation of the yen.」
It stated that, while restrictions on activity related to COVID-19 were being eased and economic activity was normalizing, uncertainty continued due to surging resource and raw material prices and the rapid depreciation of the yen. - FY2022WorsenedAnnual report
「In addition, the business environment in Japan and overseas is expected to become increasingly challenging due to heightened tensions between Russia and Ukraine and the resulting surge in energy and other resource prices, global inflation, and the ongoing depreciation of the yen.」
In addition to the existing infectious disease and trade issues, it added the situation between Russia and Ukraine, rising energy resource prices, global inflation, and yen depreciation as factors contributing to uncertainty. - FY2022-Q3WorsenedAnnual report
「Meanwhile, the outlook for the global economy remained uncertain, with raw material prices rising worldwide and infections spreading again due to variants.」
In addition to the ongoing impact of COVID-19, it cited the worldwide surge in raw material prices and the renewed spread of infections due to variants as factors contributing to uncertainty in the global economy. - FY2022-Q2RestatedAnnual report
「Meanwhile, in some overseas regions, the impact of COVID-19 gradually eased with the promotion of vaccination and other measures, and signs of an economic recovery emerged. However, the outlook for the global economy remained uncertain.」
It stated that, while signs of an economic recovery had emerged in some overseas regions, the impact of COVID-19 remained and uncertainty about the outlook for the global economy continued. - FY2021-Q3RestatedAnnual report
「During the first 3 quarters of the consolidated fiscal year, the economic environment surrounding the Group remained extremely challenging due to the global spread of COVID-19. A state of emergency was declared in Japan, while lockdowns were implemented overseas as a result of the pandemic.」
It has continued to explain that the domestic and overseas economic environment remains extremely challenging and that uncertainty about the outlook will persist due to the spread of COVID-19, Japan's state of emergency, and lockdowns overseas. - FY2020WorsenedAnnual report
「The spread of COVID-19 late in the period caused economic and social activity to stagnate, and uncertainty about the outlook for the domestic and overseas economies has continued.」
In addition to the existing trade and political conditions, it cited the stagnation of economic and social activity caused by COVID-19 as a factor contributing to uncertainty in the overseas economy. - FY2020-Q3WorsenedAnnual report
「Meanwhile, overseas, trade tensions between the United States and China and their impact on the Chinese economy, negotiations over the UK's withdrawal from the EU, and the unstable situation in the Middle East remained a concern, and the outlook remained uncertain.」
It cited the impact of US-China trade tensions on the Chinese economy, negotiations over the UK's withdrawal from the EU, and the unstable situation in the Middle East as factors of concern for the overseas economy. - FY2020-Q2RestatedAnnual report
「Meanwhile, international trade issues, including trade tensions between the United States and China and negotiations over the UK's withdrawal from the EU, remained a concern overseas, and the outlook remained uncertain.」
It continued to cite US-China trade tensions and negotiations over the UK's withdrawal from the EU as factors contributing to uncertainty in the overseas economy. It also stated that there had been no changes or newly arising matters in the business and other risks section. - FY2019RestatedAnnual report
「Meanwhile, the overseas economy remained uncertain due to growing political instability, including the US protectionist policies, negotiations over the UK's withdrawal from the EU, and developments in North Korea.」
It continued to cite US protectionism, negotiations over the UK's withdrawal from the EU, and the situation in North Korea as factors contributing to uncertainty in the overseas economy. - FY2019-Q3WorsenedAnnual report
「Meanwhile, the overseas economy remained uncertain due to growing political instability, including US-China trade tensions and negotiations over the UK's withdrawal from the EU.」
It cited US-China trade tensions, negotiations over the UK's withdrawal from the EU, and growing political instability as factors contributing to uncertainty in the overseas economy. - FY2019-Q2WorsenedAnnual report
「Meanwhile, risks from continued US-China trade friction and volatility in financial markets increased, and the global economy remained uncertain.」
It cited rising risks from volatility in financial markets in addition to US-China trade tensions, and described the outlook for the overseas economy as uncertain. - FY2019-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, Japan’s economy continued to recover moderately overall as corporate earnings and the employment environment improved, but the outlook remained uncertain due to concerns including the impact of US-China trade friction.」
While the risk section was unchanged, the analysis of operating results identified the impact of US-China trade friction as a new concern and described the outlook as uncertain. - FY2018-Q3RestatedAnnual report
「Meanwhile, concerns about US protectionist policies, economic trends in Asia including China, and the situation surrounding North Korea meant that the global economy remained uncertain.」
The company continues to cite US protectionist policies, the Asian economy including China, and the situation surrounding North Korea as factors contributing to uncertainty in the global economy. - FY2018-Q2WorsenedAnnual report
「During the cumulative second-quarter consolidated period, Japan’s economy continued to recover moderately as corporate earnings and the employment environment improved, but the global economy remained uncertain due to concerns about the protectionist policies of the United States, economic trends in emerging Asian economies including China, and the tense situation surrounding North Korea.」
In addition to existing concerns about US policies and emerging Asian economies including China, the company cited the tense situation surrounding North Korea as a factor contributing to uncertainty in the global economy. - FY2018-Q1RestatedAnnual report
「During the cumulative first-quarter consolidated period, Japan’s economy continued to recover moderately overall as corporate earnings and the employment environment improved, but the outlook remained uncertain due to growing uncertainty in the global economy, including concerns about the protectionist policies of the new US administration, the UK’s EU withdrawal issue, and economic trends in emerging Asian economies, including China.」
The company continues to cite the protectionist policies of the new US administration, the UK’s EU withdrawal, and economic conditions in emerging Asian economies, including China, as factors contributing to uncertainty in the global economy. - FY2017WorsenedAnnual report
「Meanwhile, the outlook for overseas economies is expected to remain uncertain due to factors including the policies of the new US administration, the progress of negotiations on the UK’s withdrawal from the EU, and economic trends in emerging Asian economies, including China.」
In addition to the existing concerns about the UK’s EU withdrawal and US policies, the company cited the progress of the withdrawal negotiations and trends in emerging Asian economies and stated that conditions would remain uncertain. - FY2017-Q3WorsenedAnnual report
「During the cumulative third-quarter consolidated period, Japan’s economy continued to recover moderately overall, but the outlook remained uncertain due to growing uncertainty in the global economy, including the impact of the US presidential election and the UK’s EU withdrawal issue.」
While the risk section itself was unchanged, the analysis of operating results cited the US presidential election and the UK’s EU withdrawal issue and described the growing uncertainty in the global economy. - FY2017-Q2RestatedAnnual report
「Meanwhile, in overseas economies, concerns about the timing of US interest-rate hikes and the impact of the UK’s EU withdrawal issue meant that the outlook remained uncertain.」
The timing of US interest-rate hikes and the UK’s EU withdrawal issue continue to be cited as factors contributing to uncertainty in overseas economies. - FY2017-Q1WorsenedAnnual report
「The outlook for the economy remained uncertain due to factors including the decision for the United Kingdom to leave the EU and the slowdown in emerging-market economies, including China.」
While the Business and Other Risks section itself was unchanged, the analysis of operating results identified the UK’s decision to leave the EU and the slowdown in emerging-market economies as specific external factors and described the outlook as uncertain. - FY2016First statedAnnual report
「The following events could affect the Group’s operating results and financial condition: ① unexpected changes in the economic environment; ② unexpected changes in laws or regulations; and ③ social disruption caused by terrorism, war, or other factors.」
The company lists external-environment risks associated with sales activities in Europe and the United States and Asia.