Downside Risk to the Global Economy from Brexit and Other Factors
First written in FY2017-Q2. 10 of 23 entries say "Reframed", first in FY2017. Latest entry: FY2027-H1.
Maxvalu Tokai moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2025: 15 of 18 companies on the "Worse" side.
5 other companies' latest entry also says "Reframed".
- FY2027-H1ReframedAnnual report
「Uncertainty about the outlook remains, with concerns including the situation in the Middle East and the impact of natural disasters.」
The description of factors contributing to uncertainty in the global economy and domestic economic conditions has changed from the previous references to US tariffs, monetary tightening and stagnation in the Chinese economy to include the impact of the situation in the Middle East and natural disasters. - 2026-07-10ReframedEarnings
「During the first quarter of the current consolidated fiscal year, the Japanese economy showed a moderate recovery trend supported by improvements in employment and personal consumption, while uncertainty about the outlook continued, including concerns over the impact of the situation in the Middle East.」
The impact of the situation in the Middle East was identified as a source of uncertainty in the economic environment. - FY2026-H1ReframedAnnual report
「The outlook remains uncertain amid concerns over the impact of higher US tariffs.」
In addition to the previous factors, including monetary tightening and stagnation in the Chinese economy, the company explicitly identifies higher US tariffs as a factor contributing to uncertainty in the global economy and domestic economic conditions. - FY2025-H1RestatedAnnual report
「The outlook remains uncertain amid concerns that a downturn in overseas economies caused by global monetary tightening and stagnation in the Chinese economy could weigh on the domestic economy.」
The company continues to identify global monetary tightening, a downturn in overseas economies and stagnation in the Chinese economy as factors contributing to uncertainty in the economic environment. - FY2025-Q1RestatedAnnual report
「The outlook remains uncertain amid concerns that a downturn in overseas economies caused by global monetary tightening and stagnation in the Chinese economy could weigh on the domestic economy.」
The company continues to identify global monetary tightening, a downturn in overseas economies and stagnation in the Chinese economy as factors contributing to uncertainty in the economic environment. - FY2024-Q3ReframedAnnual report
「The outlook remains uncertain amid concerns that a downturn in overseas economies caused by global monetary tightening and stagnation in the Chinese economy could weigh on the domestic economy.」
In addition to the previous factors, including surging energy and raw material prices, yen depreciation and the situation in Ukraine, the company explicitly identifies global monetary tightening, a downturn in overseas economies and stagnation in the Chinese economy as factors contributing to uncertainty in the global economy. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy continued to face an uncertain outlook due to surging global energy and raw material prices, the sharp depreciation of the yen and the prolonged situation in Ukraine.」
The company continues to identify surging energy and raw material prices, the sharp depreciation of the yen and the prolonged situation in Ukraine as factors contributing to uncertainty in the global and domestic economies. - FY2023RestatedAnnual report
「The outlook remains uncertain due to surging global energy and raw material prices, the sharp depreciation of the yen and the prolonged situation in Ukraine.」
The company continues to identify surging energy and raw material prices, the rapid depreciation of the yen and the prolonged situation in Ukraine as factors contributing to uncertainty in the global economy. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, restrictions on activities associated with the spread of COVID-19 were being eased, but the number of new infections rose significantly. In addition, the outlook remained uncertain due to surging global energy and raw material prices, the sharp depreciation of the yen and the prolonged situation in Ukraine.」
The company continues to identify surging energy and raw material prices, the sharp depreciation of the yen and the prolonged situation in Ukraine as factors contributing to uncertainty in the global and domestic economies. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, the number of new infections in Japan was trending down as the vaccination rate for COVID-19 rose. However, the outlook remained uncertain due to surging global energy and raw material prices, the rapid depreciation of the yen and the impact of the unstable situation in Ukraine.」
In addition to the previous factors, including infectious diseases and trade friction, the company explicitly identifies surging energy and raw material prices, the rapid depreciation of the yen and the unstable situation in Ukraine as factors contributing to uncertainty in the global economy. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy continued on a moderate recovery trend as corporate earnings and employment and income conditions improved. However, the outlook remained uncertain amid concerns that US-China trade friction, the UK's withdrawal from the EU and the spread of the novel coronavirus could have a significant impact on economies in Japan and overseas.」
In addition to the previous concerns over US-China trade friction and the UK's withdrawal from the EU, the company explicitly identifies concerns over the significant impact of the spread of the novel coronavirus on the Japanese and overseas economies. - FY2020-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the Japanese economy continued to recover moderately as employment and income conditions improved. However, concerns over a slowdown in the global economy resulting from US-China trade friction have left the outlook uncertain.」
The company continues to identify concerns over a global economic slowdown caused by US-China trade friction as a factor contributing to uncertainty over the outlook. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy remained on a moderate recovery trend, with employment conditions and personal consumption holding firm. However, concerns over a global economic slowdown caused by US-China trade friction and the uncertain situation in the European economic area have left the outlook uncertain.」
The company continues to identify US-China trade friction, concerns over a global economic slowdown and uncertainty in the European economic area as factors contributing to uncertainty in the global economy. - FY2019ReframedAnnual report
「Meanwhile, economic trends remain uncertain due to concerns over the impact of protectionist US-China trade policies on the global economy.」
The description of factors contributing to uncertainty in the global economy has shifted from the previous references to the situation in Europe and exchange rates to the impact of protectionist US-China trade policies. - FY2019-Q3ReframedAnnual report
「However, the outlook remains uncertain due to concerns over the impact of protectionist US-China trade policies on the global economy and uncertainty surrounding an economic slowdown in emerging markets.」
The company explicitly identifies the impact of protectionist US-China trade policies and uncertainty surrounding an economic slowdown in emerging markets as factors contributing to uncertainty in the global economy. - FY2019-Q2RestatedAnnual report
「However, the global economy remains uncertain due to concerns over trade friction arising from protectionist policies and geopolitical risks.」
The company continues to identify trade friction arising from protectionist policies and geopolitical risks as factors contributing to uncertainty in the global economy. - FY2019-Q1ReframedAnnual report
「Meanwhile, the global economy remains uncertain due to concerns over trade friction arising from rising protectionism and uncertainty over political developments.」
The description of downside and uncertainty factors for the global economy has shifted from the previous references to political instability in Europe and exchange-rate fluctuations to trade friction arising from rising protectionism and uncertainty over political developments. - FY2018SoftenedAnnual report
「Meanwhile, the international situation remains uncertain, and economic trends remain unclear.」
The description of downside factors for the global economy has shifted from specific references to political instability in Europe, exchange-rate fluctuations and US policies to the general expression “uncertainty in the international situation.” - FY2018-Q3ReframedAnnual report
「Meanwhile, economic trends remain uncertain due to political instability overseas and downside risks to the international economy.」
The description of downside factors for the global economy has shifted to political instability overseas and downside risks to the international economy. - FY2018-Q2ReframedAnnual report
「Meanwhile, the international situation remains uncertain due to political instability and rising geopolitical risks, and economic trends remain unclear.」
The description of downside factors for the global economy has shifted from the previous references to political instability in Europe, exchange-rate fluctuations and US policies to the broader expression “political instability and rising geopolitical risks.” - FY2017ReframedAnnual report
「Downside risks including uncertainty over US economic policy and economic stagnation in emerging markets overseas also remain, and the economic outlook continues to be uncertain.」
Regarding downside risks to the global economy, the factors cited have shifted from political instability in Europe and exchange-rate fluctuations through the third quarter to uncertainty over US economic policy and economic stagnation in emerging markets for the full fiscal year. - FY2017-Q3RestatedAnnual report
「Downside risks to the global economy arising from political instability in Europe and exchange-rate fluctuations also remain, and the outlook continues to be uncertain.」
The company continues to identify political instability in Europe and exchange-rate fluctuations as factors contributing to uncertainty over the outlook. - FY2017-Q2First statedAnnual report
「Downside risks to the global economy arising from issues including the UK's withdrawal from the EU remain, and the outlook continues to be uncertain.」
The company identifies the global economic downturn triggered by issues including the UK's withdrawal from the EU as uncertainty in the operating environment.