Gradual economic recovery driven by government economic policies and monetary easing
First written in FY2017-Q3. 14 of 29 entries say "Reframed", first in FY2018-Q1. Latest entry: FY2026.
Fuji Corporation Limited moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 7 of 17 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「The economy maintained a moderate recovery trend, supported by continued wage increases and expanding inbound demand. On the price front, broad-based price increases, including service prices, became entrenched due in part to energy price trends and the weaker yen, while the pass-through of costs by companies progressed, further advancing the transition to an inflationary environment.」
The explanation has expanded from post-pandemic normalisation and the recovery in inbound demand to an explanation of the economic environment centred on wage increases, cost pass-through and the transition to an inflationary environment. - FY2025ReframedAnnual report
「Since mid-year, the economy has remained on a recovery trend, supported by a recovery in personal consumption and strong inbound demand. In addition, the negative interest rate policy ended in March 2024, the Nikkei Stock Average hit a record high in July of the same year, and the rates of increase in officially assessed land prices and spring wage settlements recorded their strongest growth since the bubble era, indicating a return to an inflationary economy across a broad range of areas.」
The explanation has expanded from post-pandemic economic normalisation and the recovery in inbound demand to include personal consumption, share prices, land prices, wage increases and the return to an inflationary economy. - FY2024ReframedAnnual report
「In March 2024, the Nikkei 225 reached an all-time high and the stock market was buoyant, making the long-awaited exit from more than a quarter-century of deflation finally appear within reach.」
The description of the economic environment has evolved to include the normalization of economic activity and recovery in inbound tourism after the infection, rising prices, wage growth, the lifting of negative interest rates, policy rate hikes, and expectations for an exit from deflation. - FY2024-Q3ReframedAnnual report
「During the cumulative third-quarter consolidated accounting period, Japan's economy showed signs of a pause in its recovery due to downside factors such as high prices and a slowdown in overseas economies. However, expectations have strengthened that progress in normalizing economic activity and the full-scale recovery in inbound consumption will return the economy to a growth path led by domestic demand.」
In addition to the previous description of recovery driven by the subsiding infection and normalization of economic activity, the disclosure adds a pause in the recovery due to high prices and a slowdown in overseas economies, along with expectations for a recovery in domestic demand driven by inbound consumption. - FY2024-Q2ReframedAnnual report
「The economy remains on a recovery trend. Although real GDP growth has been high, external demand made a significant contribution, and there was also an aspect of growth being boosted by a decline in imports, meaning that domestic demand, particularly private consumption, has not been strong in recent months. However, the trend toward normalization of economic activity remains unchanged, inbound demand is gaining momentum, and employee compensation is increasing as wage growth progresses. The environment surrounding consumption is therefore expected to improve, with private consumption likely to increase gradually going forward.」
In addition to the economic recovery trend, the disclosure identifies the normalization of economic activity, inbound demand, and wage growth as recovery factors, while also noting dependence on external demand and weak domestic demand. - FY2024-Q1ReframedAnnual report
「The economy is on a gradual recovery trend, driven by rebound demand following the reclassification of the novel coronavirus disease to Category 5 and the recovery in inbound tourism, with domestic demand at the core.」
The description has shifted from recovery driven by the subsiding impact of the infection and the easing of restrictions to identifying the Category 5 reclassification, rebound demand, and the recovery in inbound tourism as factors supporting the domestic economic recovery. - FY2023ReframedAnnual report
「From the third-quarter consolidated accounting period onward, the spread of the novel coronavirus disease finally began to subside, and as various restrictions were gradually eased, the activities of individuals and businesses were also beginning to return to normal.」
The focus shifted from the previous description of a severe economic environment caused by the infection to a recovery phase in which individual and business activity was returning to normal as restrictions were eased. - FY2023-Q3RestatedAnnual report
「Although the impact of the novel coronavirus disease continued, the flow of people recovered as activity restrictions were eased and the acceptance of foreign tourists resumed, and domestic economic activity entered a gradual recovery trend.」
While the impact of the infection continued, the disclosure continues to describe the recovery in the flow of people and the gradual recovery trend in the domestic economy resulting from eased activity restrictions and the resumption of accepting foreign tourists. - FY2023-Q2ReframedAnnual report
「Subsequent easing of activity restrictions and the resumption of accepting foreign tourists led to a recovery in the flow of people, and domestic economic activity entered a gradual recovery trend.」
Even amid a renewed spread of infections, the disclosure explicitly identifies the recovery in the flow of people resulting from eased activity restrictions and the resumption of accepting foreign tourists as factors supporting the recovery of the domestic economy. - FY2023-Q1ReframedAnnual report
「The favorable order environment driven by heightened interest in housing during the COVID-19 pandemic is also beginning to wind down. With real estate, construction, and housing equipment prices in urban areas continuing to rise broadly or remain elevated, housing starts have been weak. Although demand remains solid, uncertainty over the outlook has not been dispelled.」
The description has shifted from the tailwind for housing demand created by the COVID-19 pandemic to an outlook of uncertainty, as the favorable order environment winds down, prices rise or remain elevated, and housing starts weaken. - FY2022ReframedAnnual report
「While the special housing demand generated by the COVID-19 pandemic has run its course and order trends since the second half of the year have begun to settle at normal levels, the impact of the spread of the novel coronavirus disease on order-taking activities, shortages of housing construction materials and higher raw material prices caused by the wood shock, and increases in housing equipment prices continue to create uncertainty over their impact on new housing starts and sales profit.」
In addition to describing demand stimulated by low interest rates and home-purchase support measures, the disclosure points to the end of the special housing demand, the normalization of orders in the second half of the year, and uncertainty caused by higher material and equipment prices. - FY2022-Q3RestatedAnnual report
「Against a backdrop of continued low interest rates and various government measures supporting home purchases, the spread of remote work (working from home) during the COVID-19 pandemic heightened interest in the home, while new lifestyles and work styles were becoming established and housing needs were changing. This stimulated demand for used real estate and spacious detached houses, and the housing industry generally remained firm.」
The disclosure continues to describe demand for used real estate and spacious detached houses driven by low interest rates, government measures supporting home purchases, and the spread of remote work, as well as the firm performance of the housing industry. - FY2022-Q2RestatedAnnual report
「Against a backdrop of low interest rates and government economic policies, the spread of remote work (working from home) during the COVID-19 pandemic heightened interest in the home, while new lifestyles and work styles were becoming established and housing needs were changing. This stimulated demand for used real estate and spacious detached houses, and the housing industry generally remained firm.」
The disclosure continues to recognize that the housing industry remained firm due to demand for used real estate and spacious detached houses against a backdrop of low interest rates, government economic policies, and the spread of remote work. - FY2022-Q1RestatedAnnual report
「Against a backdrop of low interest rates and government economic policies, the spread of remote work (working from home) during the COVID-19 pandemic heightened interest in the home, while new lifestyles and work styles were becoming established and housing needs were changing. This stimulated demand for used real estate and spacious detached houses, and the housing industry generally remained firm.」
The disclosure continues to recognize that the housing industry remained firm due to demand for used real estate and spacious detached houses against a backdrop of low interest rates, government economic policies, and the spread of remote work. - FY2021ReframedAnnual report
「Since June 2020, when the state of emergency was lifted, the housing industry generally remained firm, as the increased opportunity to work remotely and low interest rates stimulated demand for used real estate and detached houses with more living space.」
Although the overall economy was affected by the infection, the housing industry is described as remaining firm due to demand for used real estate and spacious detached houses against a backdrop of remote work and low interest rates. - FY2021-Q3WorsenedAnnual report
「During the cumulative third-quarter consolidated accounting period, Japan's economy remained in an extremely severe condition, as declining corporate earnings and deterioration in the employment environment caused by the global spread of the novel coronavirus disease continued.」
The economic environment is described as extremely severe, with uncertainty over the outlook increasing against a backdrop of declining corporate earnings, deterioration in the employment environment, and a renewed spread of infections comparable to a third wave. - FY2021-Q2WorsenedAnnual report
「The spread of the novel coronavirus disease had a significant impact, but real estate transactions gradually recovered as business activities resumed after the lifting of the state of emergency, against a backdrop of low interest rates and government economic policies. However, the spread of the novel coronavirus disease has heightened concern over the business environment due to a medium- to long-term economic downturn.」
While real estate transactions recovered as business activities resumed, concern over a medium- to long-term economic downturn caused by the spread of the novel coronavirus disease intensified. - FY2021-Q1ReframedAnnual report
「The domestic and global spread of the novel coronavirus disease restricted social and economic activity and further heightened uncertainty over the economic outlook, although economic activity was beginning to partially resume.」
The description has shifted from the previous gradual economic recovery trend to an economic environment centered on restrictions on social and economic activity and uncertainty over the outlook caused by the spread of the infection. It also mentions the partial resumption of economic activity. - FY2020ReframedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery trend, but in addition to the October 2019 consumption tax hike, the domestic and global spread of the novel coronavirus disease raised concerns about stagnation in economic activity, further heightening uncertainty over the economic outlook.」
The description of the previous gradual economic recovery trend now also includes the consumption tax hike and the stagnation of economic activity and uncertainty over the outlook caused by the novel coronavirus disease. - FY2020-Q3Private consumption continued to support the recovery trend despite low growthAnnual report
「Corporate earnings and the employment environment remained firm, and although private consumption grew slowly, capital investment picked up and the economy remained on a gradual recovery trend.」
The disclosure continues to describe an economic recovery trend accompanied by improvements in corporate earnings, the employment environment, and capital investment, while characterizing private consumption as experiencing low growth. - FY2020-Q2RestatedAnnual report
「Corporate earnings and the employment environment remained firm, private consumption and capital investment picked up, and the economy remained on a gradual recovery trend.」
The disclosure continues to describe a gradual economic recovery trend accompanied by improvements in corporate earnings, the employment environment, private consumption, and capital investment. - FY2020-Q1RestatedAnnual report
「Corporate earnings and the employment environment remained firm, private consumption and capital investment picked up, and the economy remained on a gradual recovery trend.」
The disclosure continues to describe a gradual economic recovery trend accompanied by improvements in corporate earnings, the employment environment, private consumption, and capital investment. - FY2019-Q3RestatedAnnual report
「Corporate earnings remained firm, and although successive natural disasters, including torrential rains and typhoon damage, created downside factors, private consumption and capital investment picked up, and the economy continued on a gradual recovery trend.」
While referring to downside factors caused by natural disasters, the disclosure continues to describe a gradual economic recovery trend accompanied by improvements in corporate earnings, private consumption, and capital investment. - FY2019-Q2RestatedAnnual report
「Corporate earnings remained firm, and although downside factors included this summer's record heat, torrential rains, and typhoon damage, private consumption and capital investment picked up, and the economy continued on a gradual recovery trend.」
While referring to downside factors such as natural disasters, the disclosure continues to describe a gradual economic recovery trend accompanied by improvements in corporate earnings, private consumption, and capital investment. - FY2019-Q1RestatedAnnual report
「Corporate earnings remained firm, private consumption and capital investment picked up, and the economy remained on a gradual recovery trend.」
The disclosure continues to describe a gradual economic recovery trend accompanied by improvements in corporate earnings, private consumption, and capital investment. Separately, it also notes uncertainty over the outlook due to trade friction and higher crude oil prices. - FY2018-Q3RestatedAnnual report
「Corporate earnings and the employment and income environment were improving, stock prices were also trending upward, and private consumption and capital investment gradually picked up, with the economy remaining broadly on a recovery trend.」
The disclosure continues to describe an economic recovery trend accompanied by improvements in corporate earnings, the employment and income environment, stock prices, private consumption, and capital investment. - FY2018-Q2RestatedAnnual report
「Corporate earnings and the employment and income environment were improving, while private consumption and capital investment gradually picked up, and the economy remained on a gradual recovery trend.」
The gradual economic recovery trend, accompanied by improvements in corporate earnings, the employment and income environment, private consumption, and capital investment, continues to be disclosed. - FY2018-Q1ReframedAnnual report
「The economy continued to recover gradually, as private consumption gradually picked up and corporate earnings and the employment and income environment continued to improve.」
The factors behind the economic recovery are described as improvements in private consumption, corporate earnings, and the employment and income environment, rather than government economic policy and monetary easing. - FY2017-Q3First statedAnnual report
「The economy remained on a gradual recovery trend as government-led economic and monetary easing policies continued.」
The economic outlook states that government-led economic and monetary easing policies contributed to the domestic economy's gradual recovery trend.