Uncertainty caused by global monetary tightening and weaker overseas economies
First written in FY2023-Q3. 6 of 10 entries say "Reframed", first in FY2024-Q1. Latest entry: 2026-08-14.
Axis Consulting moved to the "Worse" side of this theme in 2025, 3 years after the typical company in this theme (2022).
The whole theme swung hardest in 2020: 25 of 36 companies on the "Worse" side.
13 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「Meanwhile, the outlook remains uncertain because of global inflation and monetary tightening and the effects of U.S. trade measures.」
Uncertainty is now attributed to global inflation, monetary tightening and the effects of U.S. trade measures. The previous direct reference to geopolitical risks has been removed. - FY2025ReframedAnnual report
「Meanwhile, the outlook remains uncertain because of global inflation and monetary tightening, the effects of U.S. import tariffs and expanding geopolitical risks.」
Global inflation, U.S. import tariffs and expanding geopolitical risks were added to the previous sources of uncertainty. - FY2024ReframedAnnual report
「Meanwhile, the outlook remains uncertain because of unstable international conditions, soaring resource prices and the effects of global monetary tightening.」
Soaring resource prices were added to international conditions and monetary tightening as sources of uncertainty. - FY2024-Q3RestatedAnnual report
「Meanwhile, the outlook remains uncertain because of unstable international conditions and the effects of global monetary tightening.」
Uncertainty from unstable international conditions and global monetary tightening continues. - FY2024-Q2RestatedAnnual report
「Meanwhile, the outlook remains uncertain because of the effects of global monetary tightening and heightened international tensions.」
The effects of global monetary tightening and heightened international tensions continue to underpin uncertainty. - FY2024-Q1ReframedAnnual report
「Meanwhile, the outlook remains uncertain because of risks including heightened international tensions, rising prices and volatility in financial and capital markets.」
The description has shifted from global monetary tightening and weaker overseas economies to heightened international tensions, rising prices and financial-market volatility as sources of uncertainty. - FY2023RestatedAnnual report
「As global monetary tightening and other factors continue, a downturn in overseas economies poses a downside risk to Japan’s economy. The outlook remains uncertain, with concerns also about the effects of rising prices and volatility in financial and capital markets.」
Uncertainty from global monetary tightening, weaker overseas economies, rising prices and financial-market volatility continues. - FY2023-Q3First statedAnnual report
「As global monetary tightening and other factors continue, a downturn in overseas economies poses a downside risk to Japan’s economy, and the outlook remains uncertain.」
A downturn in overseas economies is explicitly identified as a downside risk to the domestic economy.