Geopolitical Risks, Delays or Stoppages in International Logistics, and Declining Logistics Volumes
First written in FY2022. 4 of 8 entries say "Worsened", first in FY2023-Q2. Latest entry: FY2026.
Chuo Warehouse moved to the "Worse" side of this theme in 2024, the same year as the typical company in this theme.
The whole theme swung hardest in 2026: 8 of 11 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Although the US trade policy had an impact, Japan's economy showed a gradual recovery as corporate earnings improved and personal consumption picked up on better employment and income conditions. However, geopolitical risks have become more apparent, including higher energy prices resulting from heightened tensions in the Middle East and uncertainty over resource supplies, leaving the outlook unpredictable.」
In addition to the previously identified instability overseas and uncertainty surrounding the Chinese economy, US trade policy, heightened tensions in the Middle East, higher energy prices and uncertainty over resource supplies were explicitly identified. - FY2026-H1WorsenedAnnual report
「Downside risks to the economy remain, including stagnant personal consumption caused by continued price increases, US trade policy, exchange-rate fluctuations and prolonged geopolitical risks, and the situation remains unpredictable.」
In addition to the previously identified instability overseas and uncertainty surrounding the Chinese economy, US trade policy, exchange-rate fluctuations and prolonged geopolitical risks were identified as factors that could weigh on the economy. - FY2025-H1RestatedAnnual report
「The outlook remains uncertain due to the impact of weaker personal consumption resulting from higher prices, sharp exchange-rate fluctuations, prolonged instability overseas and the unstable Chinese economy.」
Prolonged instability overseas and the unstable Chinese economy continue to be sources of uncertainty about the outlook, together with exchange-rate fluctuations and rising prices. - FY2024WorsenedAnnual report
「During the consolidated fiscal year, the global economy faced an uncertain outlook as global inflation driven by soaring energy and raw material prices, resulting from heightened geopolitical risks including the prolonged situation in Ukraine and escalating tensions in the Middle East, weighed on economic activity, while the Chinese economy remained sluggish.」
In addition to the previously identified situation in Ukraine and the depreciation of the yen, escalating tensions in the Middle East, global inflation and the sluggish Chinese economy were identified as sources of uncertainty surrounding international logistics. - FY2024-Q2RestatedAnnual report
「Although economic activity is showing signs of normalisation following the lifting of restrictions on activities after the reclassification of COVID-19, uncertainty remains amid soaring energy and raw material prices resulting from the prolonged situation in Ukraine and other factors, as well as the depreciation of the yen.」
Uncertainty about the outlook due to the prolonged situation in Ukraine, soaring energy and raw material prices, and the depreciation of the yen continues. - FY2023-Q3RestatedAnnual report
「The outlook remains uncertain, as consumer prices, including food and energy prices, continue to rise due to the prolonged situation in Ukraine, the depreciation of the yen and other factors.」
Inflation caused by the prolonged situation in Ukraine, the depreciation of the yen and other factors continues to be a source of uncertainty in the international situation and macroeconomic environment. - FY2023-Q2WorsenedAnnual report
「The outlook remains uncertain, as consumer prices, including food and energy prices, continue to rise due to the prolonged situation in Ukraine and the rapid depreciation of the yen, in addition to the renewed spread of infections during the seventh wave.」
The prolonged situation in Ukraine and inflation caused by the rapid depreciation of the yen were additionally identified as sources of uncertainty in the international situation and geopolitical environment. - FY2022First statedAnnual report
「In the logistics industry, factors such as deteriorating relations between countries and outbreaks of terrorism, conflict and infectious diseases overseas may affect the Group's operating results and other matters by reducing logistics volumes as customers' overseas business activities stagnate and international logistics are delayed or suspended.」
Deteriorating relations between countries, and stagnation in customers' overseas activities and suspension of international logistics caused by terrorism, conflict and infectious diseases overseas, were newly described as standalone key risks. Although the Group considers the direct impact on its single business location in Shanghai to be limited, it recognises increasing indirect and potential risks.