Uncertainty over the outlook due to the slowdown in emerging-market and resource-rich economies and concerns about the UK's withdrawal from the EU
First written in FY2017-Q1. 11 of 30 entries say "Restated". Latest entry: FY2026.
Japan Process Development moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 140 of 172 companies on the "Worse" side.
28 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Meanwhile, U.S. trade policy, the impact of the situation in the Middle East, continued inflation, and volatility in financial and capital markets posed downside risks to Japan's economy.」
The external-environment risks were described as including the impact of the situation in the Middle East, in addition to U.S. trade policy, inflation, and volatility in financial and capital markets. - 2026-03-31RestatedEarnings
「At the same time, the impact of U.S. trade policy, continuing inflation and volatility in financial and capital markets pose downside risks to the Japanese economy.」
Continues to identify U.S. trade policy, inflation and volatility in financial and capital markets as downside risks to the economy. - FY2026-H1ReframedAnnual report
「Meanwhile, the impact of U.S. trade policy, the impact of continued inflation on personal consumption, and volatility in financial and capital markets posed downside risks to Japan's economy.」
The main external economic downside factors were identified as U.S. trade policy, the impact of inflation on personal consumption, and volatility in financial and capital markets, replacing previous references to high interest rates in Europe and the United States, China's real estate market, and the situation in the Middle East. - FY2025-H1ReframedAnnual report
「However, a downturn in overseas economies caused by persistently high interest rates in Europe and the United States and stagnation in China's real estate market, together with inflation, the situation in the Middle East, and volatility in financial and capital markets, posed downside risks to Japan's economy.」
Specific downside factors for overseas economies were identified as high interest rates in Europe and the United States, stagnation in China's real estate market, inflation, the situation in the Middle East, and volatility in financial and capital markets, in addition to the existing concerns over the Chinese economy. - FY2024-Q2ReframedAnnual report
「However, a downturn in overseas economies caused by surging resource and raw-material prices, global monetary tightening, and concerns over the outlook for the Chinese economy posed a downside risk to Japan's economy.」
Specific downside factors for overseas economies were identified as surging resource and raw-material prices, global monetary tightening, and concerns over the outlook for the Chinese economy. - FY2024-Q1RestatedAnnual report
「However, a downturn in overseas economies caused by surging resource and raw-material prices and global monetary tightening posed a downside risk to Japan's economy.」
While normalization from the COVID-19 pandemic and a recovery in the domestic economy were described, the downturn in overseas economies caused by surging resource and raw-material prices and global monetary tightening continued to be identified as a downside risk. - FY2023RestatedAnnual report
「However, a downturn in overseas economies caused by surging resource and raw-material prices associated with the prolonged Russian invasion of Ukraine and global monetary tightening posed a downside risk to Japan's economy.」
While normalization of the domestic economy was described, the prolonged invasion of Ukraine, surging resource and raw-material prices, and the downside impact of global monetary tightening on the economy continued to be identified as risks. - FY2023-Q3RestatedAnnual report
「During the cumulative first nine months of the fiscal year, Japan's economy showed signs of a moderate recovery as restrictions on activity related to COVID-19 were eased and measures were implemented to balance infection control with social and economic activity. However, a downturn in overseas economies caused by surging resource and raw-material prices associated with the prolonged Russian invasion of Ukraine and global monetary tightening posed a downside risk to Japan's economy.」
While a recovery in the domestic economy resulting from the easing of activity restrictions was described, the prolonged invasion of Ukraine, surging resource and raw-material prices, and the downturn in overseas economies caused by global monetary tightening continued to be identified as downside risks to the economy. - FY2023-Q2WorsenedAnnual report
「During the cumulative first six months of the fiscal year, Japan's domestic economy recovered, particularly in manufacturing, as restrictions on activity related to COVID-19 were eased and social and economic activity moved toward normalization. However, a downturn in overseas economies caused by surging resource and raw-material prices associated with the prolonged Russian invasion of Ukraine and global monetary tightening posed a downside risk to Japan's economy.」
While a recovery in the domestic economy resulting from the easing of activity restrictions was described, the prolonged invasion of Ukraine, surging resource and raw-material prices, and the downturn in overseas economies caused by global monetary tightening were identified as new downside risks. - FY2023-Q1WorsenedAnnual report
「However, close attention was required regarding downside risks to the domestic economy, including surging resource and raw-material prices associated with the prolonged Russian invasion of Ukraine and mounting inflationary pressure resulting from the rapid depreciation of the yen.」
In addition to the existing infectious-disease and supply constraints, the prolonged invasion of Ukraine, surging resource and raw-material prices, and inflationary pressure caused by the rapid depreciation of the yen were identified as specific downside factors for the domestic economy. - FY2022WorsenedAnnual report
「Meanwhile, the economic outlook remained uncertain due to the risk of new variants emerging, supply-chain disruptions related to the situation in Ukraine, and surging prices for various raw materials, including crude oil.」
In addition to the existing uncertainty surrounding infectious diseases and overseas economies, new variants, supply-chain disruptions related to the situation in Ukraine, and surging raw-material prices were identified as specific external-environment risks. - FY2022-Q3WorsenedAnnual report
「Meanwhile, close attention was required regarding downside risks to the domestic economy arising from priority preventive measures to prevent the spread of disease in response to more infectious variants, as well as shortages and price trends for various components, including semiconductors.」
In addition to variants and priority preventive measures to prevent the spread of disease, component shortages and price trends were identified as specific downside factors for the domestic economy. - FY2022-Q2WorsenedAnnual report
「Meanwhile, close attention was required regarding downside risks to the domestic economy arising from concerns over more infectious variants and shortages of various components, including semiconductors.」
In addition to the existing infectious-disease risks, more infectious variants and shortages of components, including semiconductors, were newly identified as specific downside factors for the domestic economy. - FY2022-Q1WorsenedAnnual report
「Meanwhile, close attention was required regarding downside risks to the domestic economy arising from concerns over more infectious variants and the issuance or extension of declarations of a state of emergency and similar measures.」
Specific downside risks to the domestic economy were identified in connection with more infectious variants of COVID-19 and declarations of a state of emergency and similar measures. - FY2021-Q3RestatedAnnual report
「During the cumulative first nine months of the fiscal year, corporate earnings showed signs of recovery due to the effects of various policies and improvements in overseas economies, but conditions remained severe due to the impact of COVID-19.」
While corporate earnings showed signs of recovery, the economic environment continued to be described as severe due to the impact of COVID-19. - FY2021-Q2SoftenedAnnual report
「During the cumulative first six months of the fiscal year, Japan's economy showed signs of recovery as social and economic activity was raised while infection-prevention measures against COVID-19 remained in place, although conditions continued to be severe.」
Although social and economic activity was said to be showing signs of recovery, the economic environment was described as remaining severe. - FY2021-Q1WorsenedAnnual report
「As social and economic activity was severely restricted by the government's declaration of a state of emergency and requests to refrain from interprefectural travel amid the spread of COVID-19, conditions remained extremely severe, including a rapid decline in corporate earnings.」
The spread of COVID-19 severely restricted social and economic activity through the declaration of a state of emergency and requests to refrain from travel, resulting in an extremely severe economic environment accompanied by a rapid decline in corporate earnings. - FY2020MaterialisedAnnual report
「Furthermore, the global spread of COVID-19 since January 2020 made it impossible to foresee its impact on economies in Japan and overseas.」
In addition to the existing uncertainty surrounding overseas economies and trade policy, the global spread of COVID-19 had actually occurred and was identified as a source of uncertainty regarding its economic impact. - FY2020-Q3WorsenedAnnual report
「During the cumulative first nine months of the fiscal year, Japan's economy remained weak, with weakness becoming more pronounced, particularly in manufacturing, amid sluggish exports. Although a moderate recovery is expected to continue, uncertainty persisted due to developments in overseas economies, including U.S. trade policy, and volatility in financial and capital markets. Close attention was also required regarding the potential economic impact of COVID-19, requiring companies to manage their operations with greater caution.」
In addition to uncertainty in overseas economies and financial and capital markets, weakness in manufacturing and the economic impact of COVID-19 were identified as new risk factors requiring attention, with companies expected to manage their operations with greater caution. - FY2020-Q1WorsenedAnnual report
「Meanwhile, overseas economies remained uncertain due to developments in U.S. trade policy, the slowdown in the Chinese economy, and geopolitical risks in the Middle East, requiring companies to manage their operations with greater caution.」
In addition to the existing uncertainty surrounding overseas economies, trade issues, and the outlook for the Chinese economy, geopolitical risks in the Middle East were identified as a specific source of uncertainty. - FY2019ReframedAnnual report
「During the current period, Japan's economy remained on a moderate recovery trend, supported by improving corporate earnings and increased capital investment as employment and income conditions continued to improve. However, the outlook remained uncertain due to developments in trade issues, the future course of the Chinese economy, growing uncertainty in overseas economies, and the effects of volatility in financial and capital markets.」
In addition to the existing uncertainty surrounding overseas economies and financial markets, trade issues and the outlook for the Chinese economy were identified as specific sources of uncertainty. - FY2019-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period, Japan's economy continued to recover moderately, supported by continued improvement in employment and income conditions, improved corporate earnings and increased capital investment. However, the outlook remained uncertain due to increased uncertainty in overseas economies and the impact of volatility in financial and capital markets.」
The Company continues to cite uncertainty in overseas economies and volatility in financial and capital markets as external environmental risks causing uncertainty over the outlook. - FY2019-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period, Japan's economy continued to recover moderately, supported by continued improvement in employment and income conditions, improved corporate earnings and increased capital investment. However, the outlook remained uncertain due to increased uncertainty in overseas economies and the impact of volatility in financial and capital markets.」
The disclosure continues to describe uncertainty about the outlook due to uncertainty in overseas economies and fluctuations in financial and capital markets. - FY2018ReframedAnnual report
「While the global economy also recovered moderately, the outlook remained uncertain due to the impact of uncertainty over the economic outlook and policies of emerging economies, particularly China.」
Rather than the previously cited UK's exit from the EU and change of administration in the United States, the Company identifies uncertainty over the economies and policies of emerging economies, particularly China, as the main external environmental factor. - FY2018-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period, Japan's economy continued to recover moderately, with signs of improvement in corporate capital investment and employment and income conditions. However, the outlook remained uncertain due to increased uncertainty in overseas economies, including policy developments under the new US administration, and the impact of volatility in financial and capital markets.」
The Company continues to describe uncertainty over the outlook due to policy developments under the new US administration, uncertainty in overseas economies and volatility in financial and capital markets. - FY2018-Q1RestatedAnnual report
「During the first quarter of the consolidated cumulative period, Japan's economy continued to recover moderately, with signs of improvement in corporate capital investment and employment and income conditions. However, the outlook remained uncertain due to increased uncertainty in overseas economies, including policy developments under the new US administration, and the impact of volatility in financial and capital markets.」
The Company continues to describe uncertainty over the outlook due to policy developments under the new US administration, uncertainty in overseas economies and volatility in financial and capital markets. - FY2017RestatedAnnual report
「The outlook remained uncertain due to increased uncertainty in overseas economies associated with concerns over the UK's exit from the EU and the change of administration in the United States, as well as volatility in financial and capital markets.」
The Company continues to cite the UK's exit from the EU, the change of administration in the United States, uncertainty in overseas economies and volatility in financial and capital markets as external environmental factors. - FY2017-Q3WorsenedAnnual report
「The outlook remained uncertain due to increased uncertainty in overseas economies associated with concerns over the UK's exit from the EU and the change of administration in the United States, as well as volatility in financial and capital markets.」
In addition to concerns over the UK's exit from the EU, the change of administration in the United States and volatility in financial and capital markets are cited as new sources of uncertainty, with increased uncertainty in overseas economies explained. - FY2017-Q2RestatedAnnual report
「The economy remained in an uncertain state, affected by the slowdown in emerging-market and resource-rich economies as well as concerns over the UK's exit from the EU.」
The Company again cites the slowdown in emerging-market and resource-rich economies and concerns over the UK's exit from the EU as external environmental risks. - FY2017-Q1First statedAnnual report
「The economy remained in an uncertain state, affected by the slowdown in emerging-market and resource-rich economies as well as concerns over the UK's exit from the EU.」
The Company describes uncertainty caused by external factors in its discussion of the economic environment during the quarter.