Uncertainty Driven by Yen Depreciation, Geopolitical Risks and Rising Prices
First written in FY2023-Q1. 6 of 9 entries say "Reframed", first in FY2023-Q3. Latest entry: FY2026-H1.
Boutiques moved to the "Worse" side of this theme in 2024, 1 year after the typical company in this theme (2023).
The whole theme swung hardest in 2025: 14 of 20 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period, Japan's economy was expected to remain on a gradual recovery trend, supported by improvements in the employment and income environment, strong inbound demand and the effects of various policies. However, concerns remained about a downturn caused by the impact of developments in overseas trade policies and continued price increases on personal consumption, and the outlook remained uncertain.」
The explanation of uncertainty in the economic environment has shifted from a focus on higher resource and energy prices and geopolitical risks to one centered on the impact of overseas trade policies and rising prices on personal consumption. - FY2025ReframedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of a gradual recovery, supported by improvements in the employment and income environment and stronger inbound demand. However, the outlook remained uncertain due to concerns over the impact of higher resource and energy prices and rising prices on consumption, heightened geopolitical risks and the effects of developments in overseas economic policies.」
The explanation of economic-environment risks has expanded from a focus on the weaker yen and volatility in financial and capital markets to include employment and income, inbound demand, higher resource and energy prices, the impact on consumption and overseas policies. - FY2025-H1ReframedAnnual report
「During the interim consolidated accounting period, Japan's economy showed signs of a gradual recovery, supported by improvements in the employment and income environment and stronger inbound demand. However, concerns over the impact of higher resource and energy prices and rising prices on consumption, sharp exchange-rate fluctuations, heightened geopolitical risks and uncertainty in the global economy have left the outlook uncertain.」
The explanation of uncertainty in the economic environment has shifted to cite higher resource and energy prices, concerns over the impact on consumption, sharp exchange-rate movements, geopolitical risks and uncertainty in the global economy. - FY2024-Q3ReframedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy was subject to downward pressure from the impact of overseas economies and rising prices. Although some weakness was evident, the economy was generally on a gradual recovery trend.」
The explanation has shifted from a focus on the weaker yen, geopolitical risks and volatility in financial and capital markets to one highlighting the impact of overseas economies and the downward pressure from rising prices, while pointing to an overall gradual recovery trend. - FY2024-Q2ReframedAnnual report
「In the Japanese economy during the cumulative second quarter of the consolidated fiscal year, the economy was on a gradual recovery trend as the normalization of social and economic activity following the reclassification of COVID-19 as a Class 5 infectious disease took effect, despite downward pressure from rising prices for energy, food and other goods.」
The explanation has shifted from a focus on the weaker yen, geopolitical risks and financial market volatility to one centered on rising energy and food prices and the normalization of economic activity following the reclassification of COVID-19 as a Class 5 disease. - FY2023RestatedAnnual report
「The Japanese economy in the fiscal year ending March 2024 was expected to remain on a gradual recovery path, while uncertainty about the outlook was expected to continue due to heightened geopolitical risks and volatility in the financial and capital markets.」
Uncertainty about the outlook due to geopolitical risks and volatility in the financial and capital markets continued to be described as part of the business environment for the following fiscal year. - FY2023-Q3ReframedAnnual report
「In the Japanese economy during the cumulative third quarter, signs of a recovery were seen as restrictions on economic activity were eased, while uncertainty continued due to rising prices and volatility in the financial and capital markets.」
The description shifted from a focus on yen depreciation and geopolitical risks in the previous quarter to an explanation of uncertainty about the outlook that also included rising prices and volatility in the financial and capital markets. - FY2023-Q2RestatedAnnual report
「In the Japanese economy during the cumulative second quarter, signs of a recovery were seen as restrictions on economic activity were eased, while uncertainty continued due to rising prices against a backdrop of rapid yen depreciation and heightened geopolitical risks.」
While signs of a recovery resulting from the easing of restrictions on economic activity were described, uncertainty about the outlook due to yen depreciation, geopolitical risks and rising prices continued to be highlighted. - FY2023-Q1First statedAnnual report
「In the Japanese economy during the cumulative first quarter, uncertainty about the outlook increased due to rising prices against a backdrop of rapid yen depreciation and heightened geopolitical risks. At the same time, with the number of COVID-19 cases remaining at a certain level and economic activity normalizing, the economy was expected to recover.」
Uncertainty about the outlook arising from yen depreciation, heightened geopolitical risks and rising prices was identified for the first time as an independent theme for the economic environment during the quarter.