Downside Risks to Overseas Economies, Brexit and the Impact of the Kumamoto Earthquake
First written in FY2017-Q1. 10 of 17 entries say "Reframed", first in FY2018-Q1. Latest entry: FY2027-H1.
San Holdings moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2019: 7 of 14 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2027-H1MaterialisedAnnual report
「In addition, ¥25 million in disaster losses was recorded as an extraordinary loss because Family Funeral Famiyu Kamikumamoto was damaged by the torrential rain in Kumamoto Prefecture in August 2025.」
Family Funeral Famiyu Kamikumamoto was damaged by torrential rain in Kumamoto Prefecture in August 2025, resulting in ¥25 million in disaster losses being recorded. Natural disaster risk has materialized as an actual loss. - FY2025-H1ReframedAnnual report
「Meanwhile, uncertainty surrounding Japan's economy and prices has remained high due to geopolitical risks, including the worsening situation in the Middle East and the prolonged invasion of Ukraine, as well as concerns over an economic recession accompanying monetary tightening in various countries.」
The description of external environment risks has been reorganized to specifically identify the situation in the Middle East, the prolonged invasion of Ukraine, monetary tightening in various countries, and concerns over an economic recession, in addition to the previous references to prices, resource prices, and the slower pace of economic recovery overseas. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy showed a gradual recovery centered on personal consumption despite the impact of rising prices, while uncertainty remained extremely high due to the slower pace of economic recovery overseas and the effects of trends in prices and resource prices.」
The description of external environment risks has been reorganized from a focus on political and geopolitical factors to uncertainty centered on rising prices, resource prices, and the slower pace of economic recovery overseas. - FY2023-Q3ReframedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy showed signs of recovery, despite the effects of higher resource prices and a weaker yen, as efforts progressed to balance containing the spread of the novel coronavirus with social and economic activity. The recovery was centered on a pickup in services demand and capital investment supported by high corporate earnings.」
The description of the external environment has shifted from a focus on political and geopolitical risks to also citing the effects of higher resource prices and a weaker yen, together with the recovery in services demand and capital investment. - FY2020ReframedAnnual report
「However, in the fourth quarter of the fiscal year, the spread of the novel coronavirus disease (COVID-19) in Japan from February onward had a serious impact on the Japanese economy, with declines seen in inbound demand, exports and production, and personal consumption.」
In addition to the previous description of uncertainty in the global economy, politics, and financial markets as external factors, identifies the impact of COVID-19 on the domestic economy as a specific factor. - FY2020-Q3ReframedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy was affected by a slowdown in the global economy, primarily due to political and geopolitical uncertainty, including US-China trade friction and the UK's EU withdrawal issue. Exports remained weak, and business sentiment in manufacturing deteriorated.」
Organizes external environment risks around specific factors including US-China trade friction, the UK's EU withdrawal issue, the slowdown in the global economy, weak exports, and deteriorating business sentiment in manufacturing. - FY2020-Q2ReframedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy operated in an uncertain external environment characterized by a slowdown in the global economy, geopolitical risks, and political turmoil in Europe and the United States. Firm domestic demand, including personal consumption and corporate capital investment, provided support, while production remained weak due to sluggish external demand resulting from US-China trade friction and the slowdown in the Chinese economy, leading to deteriorating business sentiment, particularly in manufacturing.」
Organizes external environment risks by identifying specific factors including the slowdown in the global economy, political turmoil in Europe and the United States, US-China trade friction, and the slowdown in the Chinese economy. - FY2019MaterialisedAnnual report
「In addition, ¥43 million in insurance proceeds related to last summer's natural disasters—the northern Osaka earthquake and Typhoons 20 and 21—was recorded as non-operating income, while ¥43 million in disaster losses for repairs and other work related to the damage was recorded as non-operating expenses.」
Damage from the northern Osaka earthquake and the typhoons actually occurred, resulting in ¥43 million in insurance proceeds and ¥43 million in disaster losses being recorded. - FY2019-Q3MaterialisedAnnual report
「In addition, ¥13 million in insurance proceeds related to last summer's natural disasters—the northern Osaka earthquake and Typhoons 20 and 21—was recorded as non-operating income, while ¥30 million in disaster losses for repairs and other work related to the damage was recorded as non-operating expenses.」
Damage from the northern Osaka earthquake and the typhoons actually occurred, resulting in ¥13 million in insurance proceeds and ¥30 million in disaster losses being recorded. - FY2019-Q2ReframedAnnual report
「Meanwhile, business sentiment has deteriorated due to the impact of natural disasters and uncertainty over conditions overseas.」
In addition to the previous reference to risks in political and economic developments in Japan and overseas and in financial and capital markets, the description identifies natural disasters and uncertainty over conditions overseas as factors behind the deterioration in business sentiment. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy remained on a gradual recovery track amid concerns over the outlook for political and economic developments in Japan and overseas and fluctuations in financial and capital markets.」
Describes the outlook for political and economic developments in Japan and overseas and fluctuations in financial and capital markets as concerns in the external environment. - FY2018RestatedAnnual report
「During the fiscal year, Japan's economy remained on a gradual recovery track amid concerns over political developments in Japan and overseas and risks in financial and capital markets.」
Continues to describe uncertainty in the external environment, including political developments in Japan and overseas and risks in financial and capital markets, in general terms. - FY2018-Q3ReframedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy remained on a gradual recovery track, supported by a gradual pickup in domestic and external demand, with improvements seen in corporate earnings, employment conditions, and the income environment, despite concerns over risks in global politics and financial and capital markets.」
The description has been reorganized from listing overseas political and economic developments and conditions in specific regions to the more generalized terms of risks in global politics and financial and capital markets. - FY2018-Q2ReframedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained on a gradual recovery track while facing uncertainty over US policy management and the situation on the Korean Peninsula as downside factors.」
The description has shifted from the previous general reference to overseas political and economic developments and geopolitical risks to identifying US policy management and the situation on the Korean Peninsula as specific sources of uncertainty. - FY2018-Q1ReframedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy remained on a gradual recovery track, despite persistent uncertainty over political and economic developments overseas and unresolved geopolitical risks.」
The description has been reorganized from a list of individual events such as the UK's EU withdrawal and the Kumamoto earthquake into the more general terms of uncertainty over overseas political and economic developments and geopolitical risks. - FY2017-Q2RestatedAnnual report
「Although a gradual recovery is also expected going forward, concerns remain over increased uncertainty in overseas economies and its impact on financial and capital markets, in addition to downside risks involving emerging Asian economies, including China, and resource-rich countries, as well as the UK's EU withdrawal issue.」
Continues to identify downside risks involving emerging Asian economies and resource-rich countries, the UK's EU withdrawal issue, and uncertainty in overseas economies and financial and capital markets as external risks. - FY2017-Q1First statedAnnual report
「Although a gradual recovery is expected going forward, the situation is expected to remain uncertain due to downside risks surrounding overseas economies, including emerging Asian economies and resource-rich countries, as well as the decision for the UK to leave the European Union (EU) and the impact of the Kumamoto earthquake.」
Newly lists downside risks to overseas economies, the UK's withdrawal from the EU, and the impact of the Kumamoto earthquake as external risks in the business environment during the quarter.