Volatility in the Stock Market and International Conditions
First written in FY2017-Q1. 26 of 32 entries say "Materialised", first in FY2018-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026MaterialisedAnnual report
「Except for a period in April 2025 when the announcement of US tariff policies heightened uncertainty about their future impact on the economy, PBR has remained steadily above 1x and total shareholder return (TSR) has remained well above TOPIX.」
The announcement of US tariff policies was described as an event that created uncertainty about the economic outlook, indicating that changes in international conditions and policies affected the actual market environment. - FY2025WorsenedAnnual report
「When the Bank of Japan announced an additional rate hike at the end of July, expectations of a narrowing US-Japan interest-rate differential led to a rapid appreciation of the yen against the dollar, putting share prices into a correction phase. On 5 August, the market recorded its largest-ever daily decline, falling to the period low of ¥31,458.」
During the period, the Nikkei Stock Average reached an all-time high of ¥42,224 before falling to ¥31,458 amid additional Bank of Japan rate hikes and yen appreciation, recording its largest-ever decline. Volatility in markets and international conditions has become significantly more pronounced. - FY2025-H1WorsenedAnnual report
「When the Bank of Japan announced an additional rate hike at the end of July, expectations of a narrowing US-Japan interest-rate differential led to a rapid appreciation of the yen against the dollar, putting share prices into a correction phase. On 5 August, the market recorded its largest-ever daily decline, falling to the period low of ¥31,458.」
After reaching an all-time high of ¥42,224, the Nikkei Stock Average plunged to ¥31,458 amid additional Bank of Japan rate hikes and yen appreciation, recording its largest-ever decline. Market volatility driven by international conditions, monetary policy and foreign exchange movements has become increasingly pronounced. - FY2024MaterialisedAnnual report
「On 22 February 2024, the Nikkei Stock Average reached ¥39,098, renewing its all-time high for the first time in 34 years. The Bank of Japan subsequently lifted its negative-interest-rate policy, but confidence spread through the market after the continuation of accommodative financial conditions was confirmed. The market rose to the fiscal-year high of ¥40,888 on 22 March 2024 and ended trading at ¥40,369 at the fiscal year-end.」
The Nikkei Stock Average renewed its all-time high for the first time in 34 years and rose to ¥40,888 during the fiscal year. Market volatility driven by international affairs, monetary policy and corporate earnings continues to be reflected in the actual business environment. - FY2024-Q3MaterialisedAnnual report
「The market subsequently remained soft as tensions escalated in the Middle East, but rose again from November against a backdrop of expectations that the United States would stop raising interest rates and strong corporate earnings, ending trading at ¥33,464 at the end of December.」
International, policy and market factors, including escalating tensions in the Middle East, expectations for US interest rates and corporate earnings, actually emerged as factors behind the decline and rebound in share prices. The Nikkei Stock Average fluctuated between ¥27,472 and ¥33,753 during the period. - FY2024-Q2MaterialisedAnnual report
「Looking at the stock market, the Nikkei Stock Average (closing price), which started the period at ¥28,188, declined to the period low of ¥27,472 on 6 April as US shares fell amid concerns about an economic slowdown. It then rose as buying prevailed amid confidence in the continuation of the Bank of Japan's monetary easing policy and expectations for various initiatives by listed companies to achieve management that is conscious of capital costs and share prices, reaching the period high of ¥33,753 on 3 July. It subsequently moved sideways and ended trading at ¥31,857 at the end of September.」
Against a backdrop of concerns about an economic slowdown, declines in US shares, monetary policy and expectations for initiatives by listed companies, the Nikkei Stock Average actually fluctuated between ¥27,472 and ¥33,753. - FY2024-Q1MaterialisedAnnual report
「Looking at the stock market, the Nikkei Stock Average (closing price), which started the period at ¥28,188, declined to the period low of ¥27,472 on 6 April as US shares fell amid concerns about an economic slowdown. Thereafter, buying prevailed and the market trended upward amid confidence in the continuation of the Bank of Japan's monetary easing policy and expectations for various initiatives by listed companies to achieve management that is conscious of capital costs and share prices. It reached the period high of ¥33,706 on 16 June and ended trading at ¥33,189 at the end of June.」
Against a backdrop of concerns about an economic slowdown, declines in US shares, monetary policy and expectations for initiatives by listed companies, the Nikkei Stock Average actually fluctuated between ¥27,472 and ¥33,706. - FY2023MaterialisedAnnual report
「The market trended upward from October 2022, when the rise in US interest rates paused, but fell sharply following changes to domestic monetary policy, declining to the fiscal-year low of ¥25,716 on 4 January 2023. It subsequently rose again and ended trading at ¥28,041 at the fiscal year-end.」
The Nikkei Stock Average actually fluctuated between ¥25,716 and ¥28,041 due to international and policy factors, including US interest rates and changes to domestic monetary policy. - FY2023-Q3MaterialisedAnnual report
「From October, the market temporarily trended upward as the rise in US interest rates paused and concerns about inflation receded. It then declined again amid changes to domestic monetary policy and concerns about the spread of COVID-19 in China, ending trading at ¥26,094 at the end of December.」
International and policy factors, including US interest rates, changes to domestic monetary policy and concerns about the spread of infections in China, actually emerged as factors behind rises and declines in the Nikkei Stock Average. - FY2023-Q2MaterialisedAnnual report
「Looking at the stock market, the Nikkei Stock Average, which started the period at ¥27,665, fell to the period low of ¥25,748 on 12 May as selling prevailed amid caution over rapid monetary tightening in the United States. It subsequently reached the period high of ¥29,222 on 17 August as strong earnings by export companies, supported by the weaker yen, provided a buying incentive. However, it declined again as caution over monetary tightening resurfaced, ending September at ¥25,937.」
Caution over monetary tightening in the United States became a factor behind the Nikkei Stock Average's decline. After falling to ¥25,748, it rose to ¥29,222 before declining again to ¥25,937. Market volatility due to international and policy factors actually occurred. - FY2023-Q1MaterialisedAnnual report
「Although the economic environment during the first quarter of the fiscal year was recovering from the stagnation caused by COVID-19, uncertainty continued amid higher raw-material prices resulting from the prolonged situation in Ukraine and ongoing downside risks in the financial and capital markets.」
The Nikkei Stock Average declined to ¥25,748 against a backdrop of the prolonged situation in Ukraine and caution over US monetary tightening. Market volatility due to international and policy factors actually occurred. - FY2022-Q3MaterialisedAnnual report
「The market subsequently ended trading at ¥28,791 at the end of December due in part to growing concerns about the spread of variant strains of the virus.」
The Nikkei Stock Average fluctuated between ¥27,013 and ¥30,670 due to the renewed spread of COVID-19 and concerns about variant strains of the virus, ending December at ¥28,791. Market volatility caused by international affairs and infection trends actually occurred. - FY2022-Q2MaterialisedAnnual report
「Looking at the stock market, the Nikkei Stock Average, which started the period at ¥29,388, trended downward as the renewed spread of COVID-19 and other developments were viewed negatively, reaching the period low of ¥27,013 on 20 August. It then turned upward on expectations for economic normalization as vaccinations progressed and for economic measures by the next president of the Liberal Democratic Party, rising to the period high of ¥30,670 on 14 September before ending September at ¥29,452.」
The Nikkei Stock Average declined to ¥27,013 following the renewed spread of COVID-19 before rising to ¥30,670 on progress in vaccinations and expectations for economic measures. Market volatility caused by international affairs and infection trends continues to materialize. - FY2022-Q1MaterialisedAnnual report
「The market subsequently declined to the period low of ¥27,448 in mid-May as the renewed spread of COVID-19 and other developments were viewed negatively. It then recovered on expectations for economic normalization driven by dip buying and the spread of vaccinations, ending trading at ¥28,791 at the end of June.」
The renewed spread of COVID-19 became a factor behind the decline in share prices, and the Nikkei Stock Average fell to ¥27,448 during the period. Market volatility caused by international affairs and infection trends continues to materialize. - FY2021-Q3MaterialisedAnnual report
「In November, the results of the US presidential election and progress in developing COVID-19 vaccines accelerated the rise in share prices. The market reached the period high of ¥27,568 on 29 December and ended trading at ¥27,444 at the end of December.」
International and policy factors, including COVID-19, the US presidential election and vaccine development, actually emerged as factors behind the decline and subsequent sharp rebound in share prices, and the risk of market volatility continues to materialize. - FY2021-Q2MaterialisedAnnual report
「Looking at the stock market, the Nikkei Stock Average, which started the period at ¥18,065, declined to the period low of ¥17,818 on 2 April amid concerns about deterioration in the global economy and corporate earnings due to the spread of COVID-19. It then rebounded as emergency funding measures by the Federal Reserve and moves by European and US countries to resume economic activity were welcomed, rising to the ¥23,000 range in early June.」
A share-price decline due to concerns about the spread of COVID-19, followed by a rebound driven by policy responses and expectations for the resumption of economic activity, actually occurred, indicating that the risks associated with international affairs and market volatility continue to materialize. - FY2021-Q1MaterialisedAnnual report
「However, the market's rise paused as concerns about a second wave of infections in the United States intensified, and it ended trading at ¥22,288 at the end of June.」
Concerns about a second wave of COVID-19 infections actually emerged as a factor that paused the rise in share prices, and the risks associated with international affairs and market volatility continue to materialize. - FY2020MaterialisedAnnual report
「However, from late January, concerns about the outlook for the global economy intensified against a backdrop of the worldwide spread of COVID-19. The market fell sharply as movements to convert financial assets into cash intensified, reaching ¥16,552 on 19 March, its lowest level since November 2016.」
A sharp share-price decline actually occurred following the worldwide spread of COVID-19, indicating that the risks associated with international affairs and market volatility materialized in a new form. - FY2020-Q3MaterialisedAnnual report
「In August, the market fell again as investor sentiment deteriorated amid escalating US-China trade tensions and the emergence of an inverted yield curve in the United States. It reached the period low of ¥20,261 on 26 August, but subsequently rebounded as the Federal Reserve's additional rate cuts were welcomed.」
International and policy factors, including US-China tensions, the inverted yield curve in the United States and additional Federal Reserve rate cuts, actually emerged as factors behind the decline and rebound in share prices, and the risk of market volatility continues to materialize. - FY2020-Q2MaterialisedAnnual report
「In August, the market fell again as investor sentiment deteriorated amid escalating US-China trade tensions and the emergence of an inverted yield curve in the United States. It reached the period low of ¥20,261 on 26 August, but subsequently rebounded as the Federal Reserve's additional rate cuts were welcomed.」
International and policy factors, including US-China tensions, the inverted yield curve in the United States and additional Federal Reserve rate cuts, actually emerged as factors behind the decline and rebound in share prices, indicating that the risk of market volatility materialized. - FY2020-Q1MaterialisedAnnual report
「In May, the market trended downward after the Golden Week holidays amid growing uncertainty over the outlook for US-China trade negotiations and the US announcement of additional tariffs on Mexico, reaching the period low of ¥20,408 on 4 June.」
International developments, including US-China trade negotiations, additional US tariffs and geopolitical risks in the Middle East, actually became factors behind the decline in share prices, indicating that the risks associated with volatility in the stock market and international affairs materialized. - FY2019-Q3MaterialisedAnnual report
「The market subsequently moved generally around ¥22,000 amid growing uncertainty over Italy's fiscal situation and developments in Saudi Arabia. In December, however, investor sentiment deteriorated due to renewed concerns over US-China trade friction, an additional rate hike by the Federal Reserve and the partial shutdown of US government agencies. On 25 December, the market fell below ¥20,000 to ¥19,155 for the first time since September 2017, before ending December at ¥20,014.」
International developments, including US-China trade friction, an additional rate hike by the Federal Reserve, the shutdown of US government agencies, and conditions in Europe and the Middle East, actually emerged as factors behind the decline and volatility in share prices, indicating that the risks associated with international affairs and market volatility materialized. - FY2019-Q2MaterialisedAnnual report
「The market remained capped at ¥23,000 and continued to lack upward momentum amid concerns about US trade policy and caution over weakness in emerging-market currencies. From mid-September, however, a weaker yen and stronger dollar, which were also supported by easing concerns over trade friction, provided a tailwind, and the market rose to the period high of ¥24,120 at the end of September.」
International developments, including US-China trade friction, US trade policy and weakness in emerging-market currencies, actually emerged as factors behind share-price declines, limited upside and rebounds, and market volatility continues. - FY2019-Q1MaterialisedAnnual report
「The market subsequently moved within a range of ¥22,000 to ¥23,000, influenced by reports concerning overseas developments such as the situation surrounding North Korea, political developments in Italy and Spain, and US-China trade friction, before ending trading at ¥22,304 at the end of June.」
Overseas developments, including US-China trade friction, the situation surrounding North Korea and political developments in Europe, are actually identified as factors behind share-price volatility, indicating that the risks associated with international affairs and market volatility continue to materialize. - FY2018MaterialisedAnnual report
「From February, the market fell sharply amid growing awareness that the Goldilocks market was ending against a backdrop of higher long-term US interest rates, as well as caution over President Trump's protectionist trade policies and a stronger yen against the dollar. It temporarily declined to ¥20,617 in late March and ended trading at ¥21,454 at the fiscal year-end.」
Share-price volatility actually occurred during the fiscal year due to international and policy factors, including the situation surrounding North Korea, long-term US interest rates, US protectionist trade policies and foreign-exchange movements. - FY2018-Q3MaterialisedAnnual report
「The market subsequently declined to the ¥19,200 range in early September as concerns about the situation surrounding North Korea resurfaced. From October, it gained momentum amid a stronger dollar and weaker yen driven by expectations of further US rate hikes, as well as expectations for upward revisions to corporate earnings. The passage of the US tax reform bill was also welcomed, and the market rose to ¥22,939 on 25 December, its highest level since January 1992, before ending December at ¥22,764.」
The resurgence of concerns about the situation surrounding North Korea became a factor behind the decline in share prices, while major share-price volatility also actually occurred due to international and policy factors, including expectations of further rate hikes and the US tax reform bill. - FY2018-Q2MaterialisedAnnual report
「The Nikkei Stock Average, which started the period at ¥18,983, declined to the period low of ¥18,335 on 14 April amid rising geopolitical risks surrounding North Korea and other factors.」
Rising geopolitical risks surrounding North Korea are identified as an actual factor behind the decline in share prices, and share prices subsequently fluctuated again as concerns about the situation surrounding North Korea resurfaced. - FY2018-Q1MaterialisedAnnual report
「Looking at the stock market during the first quarter of the fiscal year, the Nikkei Stock Average, which started the period at ¥18,983, declined to the period low of ¥18,335 on 14 April amid rising geopolitical risks surrounding North Korea and other factors.」
Rising geopolitical risks surrounding North Korea are identified as an actual factor behind the decline in share prices, indicating that the risks associated with international affairs and market volatility materialized. - FY2017RestatedAnnual report
「The market fell sharply alongside a rapid appreciation of the yen as concerns about conditions in Europe intensified following the UK's decision to leave the EU in late June, reaching the period low of ¥14,952 on 24 June.」
International affairs, including the UK's decision to leave the EU and expectations for fiscal policy after the US presidential election, continue to be identified as drivers of volatility in share prices and foreign exchange. - FY2017-Q3RestatedAnnual report
「After the US presidential election in early November, the market trended upward as the dollar strengthened sharply against the yen on expectations of an expansionary US fiscal policy. It reached the period high of ¥19,494 on 20 December and ended trading at ¥19,114 at the end of December.」
Changes in international affairs, including the UK's decision to leave the EU and the US presidential election, are identified as major drivers of volatility in share prices and foreign exchange, indicating continued volatility in the business environment. - FY2017-Q2RestatedAnnual report
「The market subsequently fell sharply alongside a rapid appreciation of the yen as concerns about conditions in Europe intensified following the UK's decision to leave the EU, reaching the period low of ¥14,952 on 24 June.」
The report describes a sharp share-price decline triggered by the UK's decision to leave the EU, followed by a recovery driven by gains in European and US shares and expectations for economic measures. Volatility in the stock market and international affairs continues to be identified as part of the business environment. - FY2017-Q1First statedAnnual report
「On 24 June, the market fell sharply alongside a rapid appreciation of the yen as concerns about conditions in Europe intensified following the UK's decision to leave the EU. It reached the period low of ¥14,952 and ended trading at ¥15,575 at the end of June.」
During the quarter, the market actually declined following the UK's decision to leave the EU, and stock-market volatility affected the business environment.