Global Economic Slowdown and Uncertainty Over the Outlook
First written in FY2016-Q3. 27 of 36 entries say "Restated". Latest entry: 2026-11-06.
Eurasia Travel moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 19 of 30 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, Japan's economy was in an environment of growing uncertainty in macroeconomic indicators due to the trade policies of various countries, rising geopolitical risks and global inflation. In particular, the US-Israeli attack on Iran on 28 February 2026 brought some of this uncertainty to the surface and created new uncertainty.」
In addition to the existing issues of trade policy, geopolitical risk and inflation, the US-Israeli attack on Iran is cited as a specific factor that brought uncertainty to the surface and added a new source of uncertainty. - FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period, Japan's economy was in an environment where intensified international competition, rising geopolitical risks, global inflation and uncertainty over its easing could bring about significant changes through macroeconomic factors such as exchange rates and central bank policy rates. In addition, concerns have arisen over the effects of US foreign and trade policies on economic conditions, prices and stock prices.」
In addition to the existing risks and concerns relating to geopolitics, inflation and exchange rates, intensified international competition and US foreign and trade policies have emerged as new sources of uncertainty and concern. - FY2024-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy remained subject to major changes in the operating environment, including rising wages, which signaled a virtuous cycle in the economy, as well as rising prices, exchange-rate fluctuations and rising geopolitical risks, all continuing from the previous consolidated fiscal year.」
While indicating signs of a virtuous cycle driven by wage growth, the report continues to cite economic-environment uncertainties, including rising prices, exchange-rate fluctuations and geopolitical risks. - FY2024-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy remained subject to major changes in the operating environment, including rising wages and prices, interest-rate differentials between Japan and other countries and fluctuations in the yen exchange rate, rising geopolitical risks, and concerns about economic deterioration overseas, all continuing from the previous consolidated fiscal year.」
The report reiterates the economic-environment uncertainties continuing from the previous period, including rising wages and prices, interest-rate differentials and exchange-rate fluctuations, geopolitical risks, and concerns about economic deterioration overseas. - FY2023-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, Japan's economy remained subject to major changes in the operating environment, including persistently high resource prices, sharp fluctuations in the yen exchange rate, concerns about an economic slowdown due to inflation, and rising geopolitical risks, all continuing from the previous consolidated fiscal year.」
The report continues to cite economic-environment uncertainties arising from resource prices, exchange rates, inflation concerns and geopolitical risks. - FY2023-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy remained subject to major changes in the operating environment, including persistently high resource prices, rapid yen depreciation followed by a reversal toward yen appreciation, concerns about an economic slowdown due to inflation, and rising geopolitical risks, all continuing from the previous consolidated fiscal year.」
The report continues to cite economic-environment uncertainties arising from resource prices, exchange rates, inflation concerns and geopolitical risks. At the same time, it explains that the impact on socioeconomic activity is gradually declining as lifestyles adapted to living with COVID-19 become established. - FY2023-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy remained subject to major changes in the operating environment, including rising resource prices, continued yen depreciation, concerns about an economic slowdown due to inflation, and rising geopolitical risks, all continuing from the previous consolidated fiscal year.」
The report continues to cite economic-environment uncertainties, including resource prices, yen depreciation, inflation concerns and geopolitical risks. At the same time, it also cites the increasing adoption of lifestyles adapted to living with COVID-19 and progress toward socioeconomic normalization. - FY2022RestatedAnnual report
「The group faced various changes in the operating environment, including the spread of COVID-19 and associated changes in lifestyles, surging resource prices, yen depreciation against a backdrop of interest-rate differentials between Japan and other countries, and Russia's invasion of Ukraine. Although the impact of these domestic and international conditions varies among companies and individuals, uncertainty has increased across Japan's economy as a whole.」
The report continues to state for the full year that uncertainty in the domestic and global economies has increased against a backdrop of the Omicron variant, surging resource prices, yen depreciation and Russia's invasion of Ukraine. - FY2022-Q3RestatedAnnual report
「Our group continues to face yen depreciation against a backdrop of interest-rate differentials between Japan and other countries and Russia's invasion of Ukraine. Although the impact of these domestic and international conditions varies among companies and individuals, uncertainty has increased across Japan's economy as a whole.」
The report continues to explain that uncertainty across the domestic and global economies has increased against a backdrop of the ongoing Omicron variant, yen depreciation and Russia's invasion of Ukraine. - FY2022-Q2WorsenedAnnual report
「During the second quarter consolidated cumulative period, social conditions were gradually stabilizing as the state of emergency declared in certain local governments was lifted. However, the Omicron variant of COVID-19, which had spread overseas, also spread domestically, leading to the implementation of priority preventive measures in January 2022. In March 2022, the yen weakened amid factors including interest-rate differentials between Japan and other countries, while Russia invaded Ukraine, raising concerns about the impact on the global economy. As a result, although corporate earnings and personal consumption improved in some areas, uncertainty increased overall in Japan.」
The spread of the Omicron variant, yen depreciation and Russia's invasion of Ukraine are cited as new sources of uncertainty and concern, increasing uncertainty about the outlook for the domestic economy. - FY2022-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, social conditions were gradually stabilizing as the state of emergency declared in certain local governments was lifted. However, variants of COVID-19 subsequently spread in other countries, and restrictions on economic and social activity in Japan were not eased substantially. As a result, improvements in corporate earnings and personal consumption remained limited.」
The report continues to cite the spread of COVID-19 variants and restrictions on economic and social activity as factors limiting improvements in corporate earnings and personal consumption. - FY2021-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, Japan's economy continued to face severe restrictions on economic and social activity due to the spread of COVID-19, leaving both corporate earnings and personal consumption subject to an uncertain outlook.」
The report continues to cite restrictions on economic and social activity caused by COVID-19 and ongoing uncertainty about the outlook for corporate earnings and personal consumption. - FY2021-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy continued to face severe restrictions on economic and social activity due to the spread of COVID-19, leaving both corporate earnings and personal consumption subject to an uncertain outlook.」
The report continues to cite restrictions on economic and social activity caused by COVID-19, weakness in corporate earnings and personal consumption, and uncertainty about the outlook. - FY2021-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy faced severe restrictions on economic and social activity due to the spread of COVID-19, leaving both corporate earnings and personal consumption subject to an uncertain outlook.」
The report continues to cite restrictions on economic and social activity caused by COVID-19, declines in corporate earnings and personal consumption, and uncertainty about the outlook. - FY2020WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy had been gradually recovering against a backdrop of improving corporate earnings and employment conditions, but the spread of COVID-19 severely restricted economic and social activity, causing corporate earnings and personal consumption to fall rapidly, and uncertainty about the outlook remains.」
The report states that, in addition to the previously cited uncertainty in overseas economies and other factors, the spread of COVID-19 caused economic and social activity, corporate earnings and personal consumption to decline rapidly. - FY2020-Q2WorsenedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy continued to recover gradually against a backdrop of improving corporate earnings and employment conditions, while concerns remained about the impact of the consumption tax rate increase on consumer sentiment, as well as downside risks to the domestic economy from trade issues and uncertainty in overseas economies. In addition, concern arose over the impact of the spread of COVID-19.」
In addition to the previously cited consumption tax rate increase, trade issues and uncertainty in overseas economies, the report additionally identifies the spread of COVID-19 as a factor weighing on the domestic economy. - FY2020-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy continued to recover gradually against a backdrop of improving corporate earnings and employment conditions, while concerns remained about the impact of the consumption tax rate increase on consumer sentiment, as well as downside risks to the domestic economy from developments in trade issues and uncertainty in overseas economies.」
While indicating a gradual recovery in the domestic economy, the report continues to cite downside risks from the consumption tax rate increase, trade issues and uncertainty in overseas economies. - FY2019RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, but also faced downside risks to the domestic economy from uncertainty in overseas economies, including developments in trade issues.」
The report continues to cite a gradual recovery in the domestic economy and uncertainty in overseas economies and downside risks arising from developments in trade issues and other factors. - FY2019-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including developments in trade issues.」
The report continues to cite a gradual recovery in the domestic economy and uncertainty in overseas economies and downside risks arising from developments in trade issues and other factors. - FY2019-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including developments in trade issues.」
The report continues to cite a gradual recovery in the domestic economy and uncertainty in overseas economies and downside risks arising from developments in trade issues and other factors. - FY2019-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from developments in trade issues and uncertainty in overseas economies.」
The report continues to cite a gradual recovery in the domestic economy and downside risks from trade issues and uncertainty in overseas economies. - FY2018RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, but also faced downside risks to the domestic economy from developments in trade issues and uncertainty in overseas economies.」
The report continues to cite a gradual recovery in the domestic economy and downside risks from trade issues and uncertainty in overseas economies. - FY2018-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
The report continues to cite a gradual recovery in the domestic economy and downside risks arising from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets. - FY2018-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
The report continues to cite a gradual recovery in the domestic economy and downside risks arising from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets. - FY2018-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
The report continues to cite a gradual recovery in the domestic economy and downside risks arising from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets. - FY2017RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, but also faced downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
The report continues to cite a gradual recovery in the domestic economy alongside downside risks from concerns about an economic slowdown in emerging markets and other factors. - FY2017-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
The report continues to cite a gradual recovery in the domestic economy and uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets. - FY2017-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
The report continues to cite a gradual recovery in the domestic economy and uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets. - FY2017-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, while also facing downside risks to the domestic economy from uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets.」
While the domestic economy showed signs of a gradual recovery, uncertainty in overseas economies, including concerns about an economic slowdown in emerging markets, continued. - FY2016RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy showed signs of a gradual recovery against a backdrop of improving corporate earnings and employment conditions, but uncertainty about the outlook continued, including concerns about economic slowdowns in emerging markets and disruption in the European economy.」
Concerns about economic slowdowns in emerging markets, disruption in the European economy and uncertainty about the outlook continued. - FY2016-Q3First statedAnnual report
「While signs of a recovery are emerging against a backdrop of expectations for the government's economic and monetary policies, uncertainty about the outlook, including a slowdown in the global economy, continues.」
A slowdown in the global economy and other factors are cited as external-environment uncertainties, but no specific loss amount attributable to these factors is presented.