Country Risk Associated with Overseas Expansion and Investee Companies
First written in FY2018. 5 of 8 entries say "Worsened", first in FY2020. Latest entry: 2026-08-03.
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
- 2026-08-03RestatedEarnings presentation
「At present, we expect the direct impact to be limited. There was also no direct impact in the first quarter.」
Although no direct impact from instability in the Middle East has been identified, the company states that it is monitoring indirect effects of a prolonged situation on interest rates, demand and customer credit conditions. - FY2026WorsenedAnnual report
「The return to a world with interest rates, dramatic advances in AI (artificial intelligence), the yen's continued depreciation in the foreign exchange market, and the reconfiguration of supply chains accompanying the normalization of geopolitical risks have driven uncertainty in the operating environment to unprecedented levels.」
For country risks in overseas operations and investment destinations, the normalization of geopolitical risks and supply-chain reconfiguration were explicitly identified as factors increasing uncertainty in the operating environment. - 2026-05-11WorsenedEarnings presentation
「We will closely monitor indirect effects of macroeconomic changes caused by instability in the Middle East, including inflation, interest rates and foreign exchange rates.」
The risk assessment for overseas businesses and investees now includes indirect effects on inflation, interest rates and foreign exchange rates arising from instability in the Middle East. - FY2023WorsenedAnnual report
「In light of the recent emergence of geopolitical risks, we have established country risk as a standalone risk category and are working to strengthen company-wide management.」
In response to the situation in Russia and other developments, country risk in overseas operations and investment destinations was established as a standalone category and became subject to stronger company-wide management. - FY2023-Q3WorsenedAnnual report
「However, partly due to the prolonged invasion of Ukraine, procedures for transferring the aircraft out of Russia subsequently stalled, and there has been no progress in the approval procedures on the Russian side, leaving no clear prospect of recovery.」
Regarding country risks in overseas operations and investment destinations, not only the return of aircraft leased to Russia but also the transfer of collateral aircraft out of the country and the approval procedures on the Russian side have stalled, and there continues to be no clear prospect of recovering the loans and loan guarantees. - FY2023-Q1MaterialisedAnnual report
「Our consolidated subsidiary Aviation Capital Group LLC terminated all aircraft leases with Russian airlines in compliance with economic sanctions imposed on Russia by the United States, the European Union (EU) and others following the invasion of Ukraine. However, due to Russian countermeasures against the economic sanctions, there is still no clear prospect of recovering the aircraft under the terminated leases.」
Country risk in overseas operations and investment destinations materialized as the actual inability to recover aircraft under leases as a result of Russian countermeasures. - FY2020WorsenedAnnual report
「Uncertainty in the global economy is increasing due to the spread of the novel coronavirus disease. Issues requiring close monitoring include slowing economic growth and sharp fluctuations in exchange rates and interest rates」
For country risks in overseas operations and investment destinations, uncertainty in the global economy associated with the spread of infectious diseases and fluctuations in exchange rates and interest rates were identified as additional concerns. - FY2018First statedAnnual report
「Our group is actively expanding its overseas operations and investments. Unexpected events arising from changes in laws and regulations or political, economic and social conditions in these countries and regions could prevent our overseas operations and investments from progressing as planned and affect the group's results of operations.」
With the expansion of overseas operations and investments, country risk relating to the laws and regulations and political, economic and social conditions of countries and regions where we operate was disclosed as a standalone item for the first time.