Uncertainty over the Economic Outlook Due to Rapid Yen Depreciation, Dollar Appreciation and Rising Prices
First written in FY2023-Q1. 5 of 10 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 40 of 57 companies on the "Worse" side.
8 other companies' latest entry also says "Dropped".
- FY2026DroppedAnnual reportThe explanation of the economic environment for the current fiscal year contains no explicit reference to sharp yen depreciation against the dollar or sharp exchange-rate movements.
- FY2026-H1SoftenedAnnual report
「Meanwhile, uncertainty about the outlook persisted due to the impact of continued inflation on private consumption and downside risks arising from the impact of U.S. trade policy.」
The impact of inflation on the economy continues to be disclosed, but there is no explicit reference to the yen's depreciation against the dollar or sharp exchange-rate movements that appeared through the previous fiscal year. - FY2025-H1RestatedAnnual report
「During the first six months of the current interim consolidated fiscal year, the Japanese economy remained on a gradual recovery trend. Resource prices rose and inflation associated with the yen's depreciation continued, and some stagnation was seen, but personal consumption recovered as employment and income conditions improved.」
Although inflation associated with the yen's depreciation continues to be disclosed, there is no reference to sharp yen depreciation against the dollar or similar expressions, as in the previous fiscal year, while the recovery trend in personal consumption and the economy is also noted. - FY2024-Q3SoftenedAnnual report
「During the first nine months of the current consolidated fiscal year, the Japanese economy was gradually recovering as employment and income conditions improved. However, resource prices remained elevated and inflation associated with the yen's depreciation continued, while the impact of the 2024 Noto Peninsula Earthquake was particularly significant in the Hokuriku region, leaving the economy stagnant.」
Although inflation associated with the yen's depreciation continues to be disclosed, the expressions “sharp yen depreciation against the dollar” and “sharp exchange-rate movements” used through the previous quarter are absent, making the wording less pronounced. - FY2024-Q2RestatedAnnual report
「Resource prices rose and inflation associated with the yen's depreciation continued, and some stagnation was seen in areas such as capital investment, but personal consumption recovered as employment conditions improved, and the economy remained on a gradual recovery trend.」
Inflation associated with the yen's depreciation and some stagnation in capital investment continue to be disclosed as external factors. - FY2024-Q1RestatedAnnual report
「Although some weakness was seen, the economy continued to recover moderately as the effects of the transition of the novel coronavirus infection to Category 5 under Japan’s Infectious Disease Control Law gradually emerged, including an increase in private consumption, amid continued inflation due to soaring resource prices and the weaker yen.」
Inflation associated with the yen's depreciation continues to be disclosed as an external factor. The economy is shown as being on a gradual recovery trend, although some weakness is also evident. - FY2023SoftenedAnnual report
「Meanwhile, the unstable international situation led to continued elevated resource prices and inflation associated with the yen's depreciation, and the economy remained uncertain.」
Although the yen's depreciation and inflation continue to be disclosed, the expressions “sharp yen depreciation against the dollar” and “sharp exchange-rate movements” used through the previous quarter are not used in the explanation of the full-year economic environment. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the consolidated fiscal year under review, Japan’s economy saw signs of a recovery in private consumption and capital investment as the impact of the novel coronavirus infection showed some abatement. However, amid an increasingly unstable international situation, inflation due to soaring resource prices and sharp currency fluctuations continued, and the economy remained in an uncertain environment.」
The uncertainty about the economic outlook due to sharp exchange-rate movements and the resulting inflation has been reconfirmed. It states that the effects of COVID-19 showed some signs of settling. - FY2023-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, the Japanese economy remained uncertain as efforts to normalize economic activity led to signs of a gradual recovery, but the impact of an increasingly unstable international situation, including the Ukraine crisis, elevated resource prices and inflation associated with the sharp yen depreciation against the dollar weighed on the economy.」
The uncertainty about the economic outlook due to the sharp yen depreciation against the dollar, elevated resource prices and inflation has been reconfirmed. - FY2023-Q1First statedAnnual report
「The yen weakened sharply against the dollar as the interest-rate differential between Japan and the United States widened, further driving up resource prices and causing inflation, while uncertainty about the outlook for the domestic and international economies increased.」
The sharp yen depreciation against the dollar driven by the Japan-U.S. interest-rate differential, the acceleration in elevated resource prices and inflation are disclosed independently for the first time as external factors contributing to uncertainty about the outlook for the domestic and international economies.