Uncertainty in the external environment due to the slowdown in emerging-market economies, the UK's Brexit issue and yen appreciation
First written in FY2017-Q1. 6 of 13 entries say "Restated". Latest entry: FY2027-H1.
Nissan Tokyo Sales Holdings 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 2022: 82 of 96 companies on the "Worse" side.
41 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「In light of the above, although it is necessary to closely monitor changes in subsidy programs and market conditions, there is no change at present to the full-year consolidated earnings forecast announced on 14 May 2026.」
The company indicates that it will closely monitor changes in subsidy programs and market conditions as part of the external environment, but there is no change to the full-year earnings forecast. - FY2023RestatedAnnual report
「The automotive business is our Group's main source of earnings, with vehicle sales concentrated in Japan, particularly Tokyo. Because economic trends in Japan have a significant impact on corporate and individual demand, they may affect our Group's results.」
Dependence on economic trends and automotive demand in Japan, particularly Tokyo, continues to be cited as an external-environment risk. - FY2022RestatedAnnual report
「The automotive business is our Group's main source of earnings, with vehicle sales concentrated in Japan, particularly Tokyo. Because economic trends in Japan have a significant impact on corporate and individual demand, they may affect our Group's results.」
Dependence on economic trends and automotive demand in Japan, particularly Tokyo, continues to be cited as an external-environment risk. - FY2021MaterialisedAnnual report
「Although nationwide new-vehicle sales were on a recovery trend during the current consolidated fiscal year, they fell 7.6% year on year due in part to the spread of COVID-19. New-vehicle sales in Tokyo, our Group's market, fell 12.1% amid factors including the declaration of a state of emergency, representing a more difficult situation than the nationwide market.」
The downward pressure on automotive demand from the spread of COVID-19 and the declaration of a state of emergency, among other factors, occurred throughout the fiscal year, with the nationwide market down 7.6% and the Tokyo market down 12.1%. - FY2021-Q3MaterialisedAnnual report
「Although nationwide new-vehicle sales are on a recovery trend during the cumulative third quarter of the current consolidated fiscal year, they fell 12.0% year on year to the same quarter due to the spread of COVID-19.」
The downward pressure on automotive demand from the spread of COVID-19 continued, and nationwide new-vehicle sales fell 12.0% year on year. - FY2021-Q2MaterialisedAnnual report
「Although nationwide new-vehicle sales are currently recovering, they fell 22.6% year on year to the same quarter due to the spread of COVID-19. New-vehicle sales in Tokyo, our Group's market, fell 25.4% and were in a more difficult situation than the nationwide market.」
Although automotive demand nationwide and in Tokyo is said to be recovering, sales fell 22.6% and 25.4%, respectively, year on year due to the spread of COVID-19, and the impact of external-environment risks continues to appear in the results. - FY2021-Q1MaterialisedAnnual report
「Nationwide new-vehicle sales during the cumulative first quarter of the current consolidated fiscal year fell 31.8% year on year to the same quarter, due to factors including the declaration of a state of emergency in response to the spread of COVID-19.」
The downside risk to automotive demand from the external environment materialized as a 31.8% year-on-year decline in nationwide new-vehicle sales amid the spread of COVID-19 and the declaration of a state of emergency. - FY2020-Q3MaterialisedAnnual report
「Nationwide new-vehicle sales during the cumulative third quarter of the current consolidated fiscal year fell below the prior-year level, declining 1.7% year on year to the same quarter, as sales in the third quarter (October–December) decreased due in part to the consumption tax increase. Sales of registered vehicles fell 2.2% and kei vehicles 0.9%.」
The decline in vehicle sales due in part to the consumption tax increase actually occurred and appears in the business results discussion as a factor depressing demand due to the external environment. - FY2019RestatedAnnual report
「The automotive business is our Group's main source of earnings, with vehicle sales concentrated in Japan, particularly Tokyo. Because economic trends in Japan have a significant impact on corporate and individual demand, they may affect our Group's results.」
Rather than emerging-market economies or yen appreciation, external-environment risk continues to be described in terms of dependence on economic trends in Japan, particularly Tokyo, and automotive demand. - FY2017ReframedAnnual report
「The automotive business is our Group's main source of earnings, with vehicle sales concentrated in Japan, particularly Tokyo. Because economic trends in Japan have a significant impact on corporate and individual demand, they may affect our Group's results.」
The external-environment risk described previously in terms of emerging-market economies, Brexit and yen appreciation has been replaced this fiscal year by a risk description focused on domestic factors, namely the impact of Japanese economic trends on automotive demand. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economic environment was on a gradual recovery trend, with improvements in employment and income conditions, but personal consumption remained sluggish and the economy continued to face an uncertain outlook.」
Improvements in employment and income conditions, stagnant personal consumption and an uncertain economic environment continue to be cited. - FY2017-Q2RestatedAnnual report
「Although employment conditions improved, personal consumption remained sluggish, and the economy continued to face an uncertain outlook.」
Stagnant personal consumption and an uncertain economic outlook continue to be cited. - FY2017-Q1First statedAnnual report
「Although employment conditions improved, the economy remained uncertain amid a rapid appreciation of the yen due in part to the slowdown in emerging-market economies and the UK's Brexit issue.」
The slowdown in emerging-market economies, the UK's Brexit issue and the rapid appreciation of the yen are cited as sources of uncertainty in the business environment.