Uncertainty in the business environment stemming from the situation in Ukraine, surging energy prices, inflation and yen depreciation
First written in FY2023-Q3. 5 of 8 entries say "Restated". Latest entry: FY2026.
Genova 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 2025: 45 of 80 companies on the "Worse" side.
50 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「At the same time, concerns remain over the burden on households from continued price inflation, while the outlook remains uncertain due to heightened tensions in the Middle East and developments in US trade policy.」
The company continues to cite uncertainty arising from rising prices, the situation in the Middle East and US trade policy. - FY2026-H1RestatedAnnual report
「At the same time, the continued depreciation of the yen, the instability of international conditions, persistently high raw material and energy prices, and continued price inflation are affecting exchange rates and personal consumption. Continued caution is also required regarding downside risks to the global economy arising from US trade policy developments. In addition, an environment of high uncertainty continues, including the effects of volatility in the financial and capital markets and rising interest rates.」
The company has reiterated the need to monitor yen depreciation, international conditions, raw material and energy prices, rising prices, US trade policy, financial market volatility and higher interest rates. It explicitly states that there have been no material changes in business or other risks. - FY2025WorsenedAnnual report
「Geopolitical risks, including the prolonged situation in Ukraine and heightened tensions in the Middle East, continue to create uncertainty for the global economy, while resource and energy prices and raw material prices continue to rise. In addition, the introduction of comprehensive tariff policies by US President Trump, who was reappointed in January 2025, is expected to intensify friction with major trading partners, raising concerns about disruption to international supply chains and higher trade costs.」
In addition to the previously cited geopolitical risks, rising resource and raw material prices and yen depreciation, the company identifies disruption to supply chains and higher trade costs resulting from US tariff policies as new concerns. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, the Japanese economy showed signs of recovery as domestic economic normalisation progressed. At the same time, international conditions remained unstable, and the outlook continued to be uncertain due to the effects of exchange-rate fluctuations associated with global monetary tightening and downside risks to the global economy arising from continued upward pressure on prices.」
The company describes domestic economic normalisation and signs of recovery, while reiterating uncertainty arising from international conditions, exchange-rate fluctuations, rising prices and downside risks to the global economy. - FY2024-Q3WorsenedAnnual report
「In addition to the prolonged geopolitical risks, including the situation in Ukraine, instability continues, including heightened tensions in the Middle East. Raw material and energy prices, including resource and materials prices, remain high, and volatility in the financial and capital markets continues, including the ongoing depreciation of the yen. Continued caution is required regarding the impact on the outlook for the Japanese economy.」
In addition to the previously cited geopolitical risks, the company cites heightened tensions in the Middle East and states that caution remains necessary amid an unstable business environment and uncertainty over the economic outlook. - FY2024-Q2RestatedAnnual report
「At the same time, the prolonged geopolitical risks, including the situation in Ukraine, surging raw material and energy prices, and volatility in the financial and capital markets, including global monetary tightening, mean that continued caution is required regarding the impact on the outlook for the Japanese economy.」
The company has reiterated geopolitical risks, raw material and energy prices, and volatility in the financial and capital markets as external concerns. It explicitly states that there have been no material changes in business or other risks. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company explicitly states that there have been no new risks or material changes to existing risks. - FY2023-Q3First statedAnnual report
「Concerns remain over the effects of soaring energy prices resulting from the prolonged Russian invasion of Ukraine, inflation centred on the United States, and rising prices affected by the yen's record depreciation. The outlook therefore remains uncertain.」
The company identifies energy prices, inflation, yen depreciation and rising prices as external factors and describes the outlook as uncertain.