Uncertainty Driven by the Situation in Ukraine, Monetary Tightening, Yen Depreciation and Rising Prices
First written in FY2022-Q3. 5 of 13 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2020: 24 of 35 companies on the "Worse" side.
18 other companies' latest entry also says "Other".
- FY2026-H1Domestic interest-rate increase factor addedAnnual report
「Meanwhile, the shift toward a period of rising domestic interest rates following a change in the Bank of Japan’s monetary policy and the continued elevation of energy and raw-material prices associated with prolonged yen depreciation are increasing companies’ cost burdens and consumers’ preference for saving. These factors are compounded by uncertainty over U.S. trade and policy developments and heightened geopolitical risks, and the outlook remains one requiring careful assessment.」
Uncertainty continues. The latest disclosure cites rising domestic interest rates, elevated energy and raw-material prices associated with yen depreciation, higher corporate cost burdens, consumer thrift, U.S. trade and policy developments, and geopolitical risks. - 2026-05-15RestatedEarnings
「Meanwhile, consumer thrift-consciousness remains firmly entrenched due to fluctuations in energy and raw-material prices associated with unstable geopolitical risks and rising import prices resulting from the continued trend toward a weaker yen. In addition, uncertainty remains over the outlook for U.S. monetary policy and the impact of changes in domestic interest-rate trends on financial and capital markets, making this a period in which careful assessment continues to be required.」
The company continues to cite uncertainty surrounding geopolitical risks, energy and raw-material prices, the weaker yen, consumer thrift-consciousness, U.S. monetary policy, domestic interest-rate trends and financial and capital markets. - FY2025Overseas and cost factors addedAnnual report
「Meanwhile, elevated energy and raw-material prices, cost increases associated with yen depreciation and consumers’ preference for saving have continued. These have been compounded by overseas risks, including uncertainty over U.S. trade and interest-rate policies and heightened tensions in Europe and the Middle East, leaving the outlook uncertain. Together with wider swings in the financial and capital markets, this remains a situation requiring careful assessment.」
The disclosure identifies energy and raw-material prices, yen depreciation, consumer thrift, U.S. trade and interest-rate policies, tensions in Europe and the Middle East, and wider financial-market volatility as sources of uncertainty. It does not state that any risk has materialized. - FY2025-H1Concern addedAnnual report
「Meanwhile, the outlook remains uncertain because of inflation and the direction of U.S. trade policy following the change in the U.S. administration, and we need to continue monitoring the impact of external conditions, including volatility in the financial and capital markets.」
Uncertainty continues, with inflation and financial-market volatility supplemented by uncertainty over U.S. trade policy following the change in administration. The disclosure does not state that the risk has materialized. - FY2024Concerns reorganizedAnnual report
「Meanwhile, economic prospects in Japan and overseas remain uncertain because of rising prices, global financial-market volatility and geopolitical risks.」
Economic uncertainty continues, with rising prices, financial-market volatility and geopolitical risks identified as the main concerns. - FY2024-H1Concerns reorganizedAnnual report
「Meanwhile, there are many concerns, including yen depreciation, rising prices, an uncertain international situation and volatility in the financial and capital markets, and we need to continue monitoring the impact of economic fluctuations.」
Concerns about the economic outlook continue. The latest disclosure identifies yen depreciation, rising prices, the uncertain international situation and financial-market volatility, without mentioning global monetary tightening. It does not state that any risk has materialized, and says there are no new or material changes to adjacent business risks. - FY2024-Q1RestatedAnnual report
「However, the outlook remains uncertain because of inflation and global monetary tightening, and we need to continue monitoring the impact of volatility in the financial and capital markets.」
The company continues to cite inflation, global monetary tightening and volatility in the financial and capital markets as sources of uncertainty. - FY2023Sources of uncertainty simplifiedAnnual report
「During the consolidated fiscal year, Japan’s and overseas economies recovered moderately as the normalization of socioeconomic activity progressed following the removal of restrictions associated with the transition from living with COVID-19 to the post-COVID period, together with the effects of various policies. However, the outlook remained uncertain because of inflation and global monetary tightening, and we continued to monitor their impact on the economy.」
Economic uncertainty continues, but the latest description identifies inflation and global monetary tightening as the main factors and makes no specific reference to geopolitics, yen depreciation or China’s economy. - FY2023-Q3Sources of uncertainty revisedAnnual report
「However, we need to monitor closely the impact on Japan’s domestic economy of a slowdown in overseas economies against a backdrop of global monetary tightening, volatility in the financial and capital markets, rising prices, the outlook for the Chinese economy and domestic monetary policy. The outlook therefore remains uncertain.」
Uncertainty about the outlook continues. The latest disclosure replaces previous references to Russia, Ukraine and yen depreciation with the outlook for China’s economy and domestic monetary policy as sources of uncertainty. - FY2023-Q2RestatedAnnual report
「The global economy remained uncertain as concerns about recession spread across countries against a backdrop of the prolonged Russia–Ukraine conflict, higher raw-material and energy costs, and persistent inflation.」
The company continues to cite the Russia–Ukraine conflict, higher raw-material and energy costs, inflation and recession concerns as sources of uncertainty. - FY2023-Q1RestatedAnnual report
「Meanwhile, uncertainty about the outlook continues, including concerns about a slowdown in the global economy against a backdrop of the prolonged situation in Ukraine and global monetary tightening, and the impact on Japan’s domestic economy of continued yen depreciation and rising prices. We need to monitor these effects closely.」
The company continues to identify the situation in Ukraine, monetary tightening, yen depreciation and rising prices as sources of economic uncertainty. - FY2022RestatedAnnual report
「Inflation has driven up global raw-material and fuel prices. In addition, heightened geopolitical risks arising from the situation in Ukraine are accelerating increases in food prices, while weaker overseas economies against a backdrop of monetary tightening pose a downside risk to Japan’s economy. The economic outlook remains unstable because of rising prices and volatility in the financial and capital markets, and we need to monitor their impact closely.」
The company continues to cite the situation in Ukraine, monetary tightening, rising prices and financial-market volatility as sources of economic uncertainty. - FY2022-Q3First statedAnnual report
「Meanwhile, uncertainty about the outlook continues, including concerns about a slowdown in the global economy against a backdrop of the prolonged situation in Ukraine and global monetary tightening, and the impact on Japan’s domestic economy of rapid yen depreciation and rising prices. We need to monitor these effects closely.」
Geopolitical conditions, monetary policy, foreign exchange and rising prices are identified as risk factors that could affect the global and domestic economies.