Slower Economic Recovery Due to Surging Resource Prices
First written in FY2022-Q2. 5 of 13 entries say "Restated". Latest entry: FY2026.
Fushiki Kairiku Unso moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
The whole theme swung hardest in 2022: 16 of 28 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「During the current consolidated fiscal year, the Japanese economy remained on a gradual recovery trend as employment and income conditions continued to improve. However, the outlook remained uncertain due to elevated resource prices and the impact of the international situation, including in the Middle East.」
In addition to elevated resource prices, the impact of the international situation, particularly in the Middle East, is disclosed as a factor creating uncertainty. There is no direct reference to the yen's depreciation against the dollar that appeared through the previous fiscal year. - 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.」
Inflation and uncertainty about the outlook continue to be disclosed, but the direct references to elevated resource prices and the yen's depreciation that were explicit through the previous fiscal year are absent, narrowing the scope of the disclosure. - FY2025MitigatedAnnual report
「During the consolidated fiscal year under review, Japan’s economy remained on a moderate recovery track, as employment and income conditions continued to improve. However, uncertainty about the outlook persisted due to the impact of U.S. trade policy, in addition to rising resource prices and inflation resulting from the weaker yen.」
Elevated resource prices and inflation associated with the yen's depreciation continued, while improving employment and income conditions and a gradual recovery trend in the economy were both noted. - FY2025-H1MitigatedAnnual 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 elevated resource prices and inflation associated with the yen's depreciation continued, the economy was described as being on a gradual recovery trend due to improving employment and income conditions and a recovery in personal consumption. - FY2024-Q3WorsenedAnnual 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.」
While employment and income conditions improved, elevated resource prices and inflation associated with the yen's depreciation continued, and the impact of the Noto Peninsula Earthquake left the economy stagnant. Compared with the gradual recovery trend through the previous quarter, uncertainty in the external environment has increased. - FY2024-Q2RestatedAnnual report
「During the first six months of the current 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 in areas such as capital investment, but personal consumption recovered as employment conditions improved.」
While it continues to disclose elevated resource prices, inflation associated with the yen's depreciation and factors affecting the outlook, including some stagnation in capital investment, personal consumption and the economy are described as being on a gradual recovery trend. - 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.」
While the continued rise in resource prices and inflation associated with the yen's depreciation are disclosed, the economy is described as being on a gradual recovery trend. - FY2023RestatedAnnual 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.」
It continues to disclose the unstable international situation, elevated resource prices, inflation associated with the yen's depreciation and uncertainty about the economic outlook. - 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.」
It continues to disclose the unstable international situation, elevated resource prices, inflation associated with sharp exchange-rate movements and uncertainty about the economic outlook, while the effects of COVID-19 have shown 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.」
While there were signs of an economic recovery, it continues to disclose uncertainty about the outlook due to the international situation, including the Ukraine crisis, elevated resource prices and inflation associated with the yen's depreciation against the dollar. - FY2023-Q1WorsenedAnnual 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.」
It states that, in addition to the previously noted rise in resource prices, the sharp yen depreciation against the dollar and inflation progressed, increasing uncertainty about the outlook for the domestic and international economies. - FY2022-Q3WorsenedAnnual report
「Resource prices rose further as geopolitical risks increased, including those related to the situation in Ukraine, and the outlook remained uncertain.」
It states that resource prices rose further due to increased geopolitical risks, including those related to the situation in Ukraine, in addition to the previously noted rise in resource prices, increasing uncertainty about the outlook. - FY2022-Q2First statedAnnual report
「During the first six months of the current consolidated fiscal year, the Japanese economy recovered only gradually as the effects of COVID-19 and elevated resource prices continued.」
The continued rise in resource prices and the resulting gradual economic recovery are disclosed as new external risk exposure.