Uncertainty over the outlook due to slowing overseas economies and stagnant personal consumption
First written in FY2016-Q3. 13 of 27 entries say "Reframed", first in FY2017-Q1. Latest entry: FY2026-H1.
Revolution moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 141 of 158 companies on the "Worse" side.
34 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period under review, Japan's economy maintained a gradual recovery trend against the backdrop of improvements in employment conditions and the income environment. However, the outlook remained uncertain due to factors including US trade policy, exchange-rate fluctuations, geopolitical risks such as international conflicts, and the impact of rising prices on personal consumption.」
While maintaining a gradual recovery trend, the company cites US trade policy, exchange-rate fluctuations, geopolitical risks such as international conflicts, and the impact of rising prices on personal consumption as factors contributing to an uncertain outlook. - FY2025-H1ReframedAnnual report
「During the interim consolidated accounting period under review, Japan's economy continued on a generally gradual recovery track, supported by improvements in employment conditions and the income environment, a trend toward easing inflation and a recovery in inbound demand. However, geopolitical risks including US-China relations and international conflicts affected trade, energy and raw material prices, and the outlook remained uncertain.」
The description has shifted from the previous references to yen depreciation, inflation and domestic political risks to improvements in employment and income conditions and a recovery in inbound demand, while citing geopolitical risks including US-China relations and international conflicts as sources of uncertainty about the outlook. - FY2024ReframedAnnual report
「During the consolidated fiscal year under review, the level of economic activity rose and the economy began to recover gradually, while the Bank of Japan decided on an additional rate hike following the end of its negative interest rate policy. However, the outlook remained uncertain as personal consumption remained weak amid continued inflation caused in part by the depreciation of the yen, and domestic political risks emerged following the general election.」
While describing an economic recovery and an additional rate hike, the company cites yen depreciation, inflation, weak personal consumption and domestic political risks resulting from the general election as new sources of uncertainty. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter under review, the level of economic activity rose and the economy began to recover gradually, while the Bank of Japan ended its negative interest rate policy and decided on its first rate hike in 17 years. However, raw material and utility costs remained high, and domestic economic conditions continued to be uncertain due to geopolitical risks including the ongoing conflict between Russia and Ukraine and the continued depreciation of the yen.」
The company describes a gradual economic recovery trend and the Bank of Japan's first rate hike in 17 years, while continuing to cite geopolitical risks, yen depreciation, and persistently high raw material and utility costs as sources of uncertainty. - FY2024-Q1ReframedAnnual report
「During the cumulative first quarter under review, the level of economic activity rose and the economy began to recover gradually. However, raw material and utility costs remained high, and domestic economic conditions continued to be uncertain due to geopolitical risks including the ongoing conflict between Russia and Ukraine and the continued depreciation of the yen.」
While describing a recovery trend in economic activity, the company cites, in addition to the previously mentioned conflict, geopolitical risks, yen depreciation, and persistently high raw material and utility costs as sources of uncertainty. - FY2023-Q2ReframedAnnual report
「During the cumulative second quarter under review, the government announced that COVID-19 would be classified as a Class 5 infectious disease, and progress was made in raising the level of economic activity. However, domestic economic conditions had become extremely challenging and uncertainty continued as raw material and utility costs rose due to the ongoing conflict between Russia and Ukraine, the emergence of the US debt ceiling issue and the continued depreciation of the yen.」
While indicating that the reclassification of COVID-19 as a Class 5 infectious disease had led to a higher level of economic activity, the company cites the US debt ceiling issue, yen depreciation, and rising raw material and utility costs as new sources of uncertainty. - FY2023-Q1ReframedAnnual report
「During the cumulative first quarter under review, the government announced a review of the legal classification of COVID-19, and efforts to raise the level of economic activity were progressing. However, domestic economic conditions had become extremely challenging and uncertainty continued as raw material and utility costs rose due to the ongoing conflict between Russia and Ukraine and crude oil prices remaining high.」
While indicating a review of the legal classification of the infectious disease and progress in raising the level of economic activity, the company describes the conflict, persistently high crude oil prices, and rising raw material and utility costs as new sources of uncertainty. - FY2022WorsenedAnnual report
「However, domestic economic conditions remained extremely challenging and uncertainty continued due to the ongoing conflict between Russia and Ukraine, crude oil prices remaining high, rising raw material prices and the rapid depreciation of the yen in foreign exchange markets.」
In addition to the previously cited conflict, crude oil prices and rising raw material prices, the company cites the rapid depreciation of the yen as a factor, describing the domestic economy as extremely challenging and uncertain. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, as the seventh wave of COVID-19 continued to spread, the government indicated a policy of imposing no restrictions on movement, raising expectations for a recovery in the level of economic activity. However, economic conditions remained extremely challenging and uncertainty continued due to the ongoing conflict between Russia and Ukraine, crude oil prices remaining high and rising raw material prices.」
The company newly describes the spread of the seventh wave of COVID-19, while expressing expectations for a recovery in economic activity based on the government's policy of imposing no restrictions on movement. The challenging economic conditions and uncertainty about the outlook caused by the conflict, crude oil prices and rising raw material prices have continued. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter under review, COVID-19 continued to affect economic activity, but the economy was gradually recovering due to measures including the promotion of vaccination. However, economic conditions remained extremely challenging due to the conflict between Russia and Ukraine, soaring crude oil prices and rising raw material prices, and uncertainty continued.」
The company states that economic conditions are extremely challenging due to COVID-19, the conflict between Russia and Ukraine, soaring crude oil prices and rising raw material prices, making the uncertainty about the outlook more specific. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter under review, the Omicron variant of COVID-19 spread in Japan and was recognised as the sixth wave, while priority preventive measures were implemented. In addition, the possibility of a conflict involving Russia and Ukraine became apparent, affecting overseas markets, and the outlook became uncertain. The real estate and investment industries relevant to the Group were also expected to be affected by COVID-19 and the conflict, leaving the outlook uncertain.」
In addition to the previous uncertainty caused by COVID-19, the company newly describes the sixth wave caused by the Omicron variant, priority preventive measures, the possibility of a conflict between Russia and Ukraine and the impact on overseas markets. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, COVID-19 infections had spread from last autumn and subsequently began to subside, but after the fourth wave emerged around April, states of emergency were declared in some prefectures, restricting corporate activity and personal consumption. There is no prospect of the outbreak coming to an end, and the outlook remains uncertain.」
The company continues to describe the fourth wave, declarations of a state of emergency in some prefectures, restrictions on corporate activity and personal consumption, and the uncertain prospect of the outbreak coming to an end. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter under review, COVID-19 infections had spread from last autumn and subsequently began to subside, but the fourth wave emerged around April. As a result, states of emergency were declared in some prefectures, restricting corporate activity and personal consumption. There is no prospect of the outbreak coming to an end, and the outlook remains uncertain.」
The situation has become more specific, progressing from the reference to the third wave to the emergence of the fourth wave, declarations of a state of emergency in some prefectures and restrictions on corporate activity and personal consumption. Uncertainty about the outlook due to the infectious disease has continued and intensified. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, COVID-19 infections spread from last autumn, and the so-called third wave led to restrictions on corporate activity and personal consumption. With no prospect of the outbreak coming to an end, the outlook remains uncertain.」
The company describes restrictions on corporate activity and personal consumption caused by the third wave of COVID-19 and the lack of a prospect for the outbreak coming to an end, making the uncertainty about the outlook more specific. - FY2020-Q3WorsenedAnnual report
「Japan's economy during the cumulative third quarter under review had previously continued on a gradual recovery track, but concerns about a recession in the global economy have increased due to the global spread of COVID-19. In addition, the outlook for Japan's economy has become uncertain as the declaration of a state of emergency restricted corporate activity and personal consumption.」
In addition to concerns about a global recession caused by COVID-19, the company specifically describes restrictions on corporate activity and personal consumption resulting from the declaration of a state of emergency. - FY2020-Q2WorsenedAnnual report
「Japan's economy during the cumulative second quarter under review had previously continued on a gradual recovery track, but concerns about a recession in the global economy have increased due to the global spread of COVID-19, leaving the outlook for Japan's economy uncertain.」
The global spread of COVID-19 has made explicit concerns about a global economic recession and uncertainty about the outlook for Japan's economy. - FY2020-Q1ReframedAnnual report
「Japan's economy during the cumulative first quarter under review continued on a gradual recovery track, with corporate earnings remaining at a high level. However, numerous concerns remained uncertain, including the impact on Japan's economy of weak inbound consumption due to the outbreak of a new type of pneumonia.」
In addition to the previously cited US-China trade friction and other factors, the company identifies weak inbound consumption due to the outbreak of a new type of pneumonia as a new source of uncertainty. - FY2019-Q1ReframedAnnual report
「Japan's economy during the cumulative first quarter under review continued on a gradual recovery track, with corporate earnings remaining at a high level and improvements seen in employment conditions against the backdrop of economic policies implemented by the Japanese government. However, concerns including US trade policy, US-China trade friction and developments in neighbouring countries emerged, making the impact on the economy uncertain.」
As factors contributing to uncertainty about the outlook, the company specifically cites, in addition to the previously mentioned US trade policy, US-China trade friction and developments in neighbouring countries. - FY2018-Q3ReframedAnnual report
「Japan's economy during the cumulative third quarter under review continued on a gradual recovery track, with improvements seen in corporate earnings and employment conditions against the backdrop of economic policies implemented by the Japanese government, despite concerns including US trade policy.」
In place of the previously cited political tensions with neighbouring countries, the company cites US trade policy as a concern, while describing improvements in corporate earnings and employment conditions and a gradual recovery trend. - FY2018-Q1RestatedAnnual report
「Japan's economy during the fiscal year under review continued on a gradual recovery track, with improvements seen in corporate earnings and employment conditions against the backdrop of economic policies implemented by the Japanese government, despite concerns including heightened political tensions with neighbouring countries.」
The company describes improvements in corporate earnings and employment conditions and a gradual recovery trend, while citing political tensions with neighbouring countries as a concern. - FY2017-Q4ReframedAnnual report
「Japan's economy during the cumulative second quarter under review continued amid improvements in corporate earnings and employment conditions against the backdrop of economic policies implemented by the Japanese government. However, concerns including heightened political tensions with neighbouring countries, a slowdown in overseas economies and stagnant personal consumption remained, and conditions continued to be uncertain.」
As factors contributing to uncertainty about the outlook, the company cited, in addition to the previously mentioned slowdown in overseas economies and stagnant personal consumption, political tensions with neighbouring countries. - FY2017-Q3RestatedAnnual report
「Japan's economy during the cumulative first quarter under review continued amid improvements in corporate earnings and employment conditions against the backdrop of economic policies implemented by the Japanese government. However, concerns including a slowdown in overseas economies and stagnant personal consumption remained, and conditions continued to be uncertain.」
Alongside improvements in corporate earnings and employment conditions, the company continues to describe uncertainty about the outlook due to a slowdown in overseas economies and stagnant personal consumption. - FY2017SoftenedAnnual report
「Japan's economy during the fiscal year under review continued on a gradual recovery track, with improvements seen in corporate earnings and employment conditions against the backdrop of economic policies implemented by the Japanese government, despite concerns including heightened political tensions with neighbouring countries.」
The previously cited slowdown in overseas economies and stagnant personal consumption were no longer stated explicitly, with concerns narrowed to factors including political tensions with neighbouring countries. - FY2017ReframedAnnual report
「Japan's economy during the fiscal year under review continued on a gradual recovery track. However, concerns including the UK's EU withdrawal issue and the impact of the formation of a new US administration on financial markets remained, and conditions continued to be uncertain.」
As factors contributing to uncertainty about the outlook, the company cited, in addition to the previously mentioned UK's EU withdrawal issue, the impact of the formation of a new US administration on financial markets. - FY2017-Q1ReframedAnnual report
「Against the backdrop of economic policies implemented by the Japanese government, improvements were seen in corporate earnings and employment conditions. However, concerns including a slowdown in emerging-market economies, the UK's EU withdrawal issue and stagnant personal consumption remained, and conditions continued to be uncertain.」
The company has made the previous reference to a slowdown in overseas economies more specific by citing a slowdown in emerging-market economies and the UK's EU withdrawal issue. - FY2016-Q4RestatedAnnual report
「Although improvements were seen in corporate earnings and employment conditions, concerns including a slowdown in overseas economies and stagnant personal consumption persisted, and conditions remained uncertain.」
The company continues to describe uncertainty about the outlook, including a slowdown in overseas economies and stagnant personal consumption. - FY2016-Q3First statedAnnual report
「Although improvements were seen in corporate earnings and employment conditions, concerns including a slowdown in overseas economies and stagnant personal consumption persisted, and conditions remained uncertain.」
Alongside improvements in corporate earnings and employment conditions, the company cited a slowdown in overseas economies and stagnant personal consumption as concerns.