Economic Uncertainty Stemming from Geopolitical Developments, Raw Material Prices and Yen Depreciation
First written in FY2024-Q3. 4 of 5 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2026: 8 of 12 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, Japan’s economic outlook remained uncertain due to uncertainty surrounding US economic policy, growing instability in overseas conditions and accelerating inflation. However, economic activity continued to normalize as employment and income conditions improved and inbound demand recovered, and the economy as a whole remained on a gradual recovery trend.」
The company newly specifies US economic policy, overseas conditions and inflation as factors contributing to uncertainty, while also describing a gradual recovery trend supported by improvements in employment and income conditions and inbound demand. - FY2025RestatedAnnual report
「During the consolidated fiscal year, Japan’s economy continued to face concerns including persistent price increases and the risk of a downturn in overseas economies. However, economic activity normalized further as employment and income conditions improved and inbound demand recovered, and the economy as a whole remained on a gradual recovery trend.」
The company cites rising prices and the risk of a downturn in overseas economies, while describing the normalization of economic activity and a gradual recovery trend. - FY2025-H1RestatedAnnual report
「During the interim accounting period, Japan’s economy continued to face concerns including rising prices and the risk of a downturn in overseas economies. However, economic activity continued to normalize, and the economy remained on a gradual recovery trend.」
The company continues to cite rising prices and the risk of a downturn in overseas economies in its discussion of the macroeconomic environment, while also describing the normalization of economic activity and a gradual recovery trend. It states in the business and other risks section that there have been no material changes. - FY2024RestatedAnnual report
「Although conditions remain uncertain due to the prolonged instability surrounding Ukraine, surging raw material prices and the depreciation of the yen, the macroeconomy is expected to recover as economic activity resumes following the end of the COVID-19 pandemic and various policies to address rising prices take effect.」
The annual report reiterates the uncertainty from geopolitical conditions, raw material prices and yen depreciation, along with the expected recovery from the resumption of economic activity and the effects of government policies. - FY2024-Q3First statedAnnual report
「Although conditions remain uncertain due to the prolonged instability surrounding Ukraine, surging raw material prices and the depreciation of the yen, the macroeconomy is expected to recover as economic activity resumes following the end of the COVID-19 pandemic and various policies to address rising prices take effect.」
In its analysis of operating results, the company has for the first time identified geopolitical conditions, raw material prices and yen depreciation as factors contributing to economic uncertainty. It does not describe their direct impact on operating results or organize them as new risks in the business and other risks section, which states that there have been no new risks or material changes.