Uncertainty caused by economic conditions, foreign exchange rates, overseas developments, disasters and other factors
First written in FY2016-Q3. 22 of 35 entries say "Restated". Latest entry: FY2026-H1.
Horai moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 24 of 31 companies on the "Worse" side.
9 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「At the same time, uncertainty persisted due to the impact of developments in the situation in the Middle East and U.S. trade policy, rising prices, volatility in financial and capital markets, and other factors.」
Continued uncertainty arising from the situation in the Middle East, U.S. trade policy, rising prices and volatility in the financial and capital markets is reported. - 2026-04-28RestatedEarnings
「At the same time, uncertainty persisted due to the impact of developments in the situation in the Middle East and U.S. trade policy, rising prices, volatility in financial and capital markets, and other factors.」
The situation in the Middle East, U.S. trade policy, rising prices, and volatility in financial and capital markets continue to be cited as sources of uncertainty. - FY2025RestatedAnnual report
「Meanwhile, uncertainty continued due to developments in U.S. trade policy, rising prices, the situation in the Middle East and volatility in the financial and capital markets.」
U.S. trade policy, the situation in the Middle East, rising prices and volatility in the financial and capital markets continue to be identified as external sources of uncertainty. - FY2025-H1WorsenedAnnual report
「Meanwhile, weakness in overseas economies, including global monetary tightening and concerns about the outlook for China's economy, posed a risk of weighing on Japan's economy, and uncertainty continued due to rising prices, supply constraints, developments concerning the situation in the Middle East and U.S. trade policy, and volatility in the financial and capital markets.」
In addition to the existing factors of overseas economic conditions, rising prices, supply constraints and volatility in the financial and capital markets, the situation in the Middle East and U.S. trade policy are cited as sources of uncertainty. - FY2024RestatedAnnual report
「Meanwhile, weakness in overseas economies, including concerns about the outlook for China's economy, posed a risk of weighing on Japan's economy amid ongoing global monetary tightening, and uncertainty continued due to rising prices, supply constraints and volatility in the financial and capital markets.」
Continued uncertainty arising from global monetary tightening, China's economy, rising prices, supply constraints and volatility in the financial and capital markets is reported. - FY2024-Q2RestatedAnnual report
「Meanwhile, weakness in overseas economies, including concerns about the outlook for China's economy, posed a risk of weighing on Japan's economy amid ongoing global monetary tightening, and uncertainty continued due to rising prices, supply constraints and volatility in the financial and capital markets.」
Continued uncertainty arising from global monetary tightening, concerns about the outlook for China's economy, rising prices, supply constraints and volatility in the financial and capital markets is reported. - FY2024-Q1RestatedAnnual report
「Meanwhile, weakness in overseas economies, including concerns about the outlook for China's economy, posed a risk of weighing on Japan's economy amid ongoing global monetary tightening, and uncertainty continued due to rising prices, supply constraints and volatility in the financial and capital markets.」
Continued uncertainty arising from global monetary tightening, concerns about the outlook for China's economy, rising prices, supply constraints and volatility in the financial and capital markets is reported. No quantified impact or new events are indicated. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy transitioned to a new phase of living with COVID-19, and both personal consumption and corporate earnings showed a gradual recovery. However, weakness in overseas economies posed a risk of weighing on Japan's economy amid ongoing global monetary tightening, and uncertainty continued due to rising prices, supply constraints and volatility in the financial and capital markets.」
While referring to the transition to living with COVID-19 and the economic recovery, continued uncertainty arising from weakness in overseas economies, rising prices, supply constraints and volatility in the financial and capital markets is reported. - FY2023-Q2WorsenedAnnual report
「During the cumulative second-quarter period, Japan's economy saw a gradual recovery in both personal consumption and corporate earnings as the transition to a new phase of living with COVID-19 progressed. However, weakness in overseas economies, including the failure of some financial institutions in Europe and the United States amid ongoing global monetary tightening, posed a risk of weighing on Japan's economy, and uncertainty continued due to rising prices, supply constraints and volatility in the financial and capital markets.」
In addition to the existing factors of overseas economic weakness, rising prices, supply constraints and volatility in the financial and capital markets, the failure of some financial institutions in Europe and the United States is cited as a new downside factor for the economy, with the continuation of uncertainty reported. - FY2023-Q1RestatedAnnual report
「While personal consumption and corporate earnings both showed a moderate recovery, uncertainty continued due to the risk that weakness in overseas economies would weigh on Japan's economy amid ongoing global monetary tightening, as well as rising prices, supply constraints and increased volatility in the financial and capital markets.」
Weakness in overseas economies, rising prices, supply constraints and increased volatility in the financial and capital markets continue to be identified as sources of uncertainty for the economy. - FY2022WorsenedAnnual report
「The environment became challenging as new concerns emerged, including higher raw material prices resulting from Russia's invasion of Ukraine and the yen's rapid depreciation, as well as surging energy prices such as gasoline, electricity and gas prices.」
In addition to the existing concerns related to infectious diseases and overseas developments, the situation in Ukraine, the yen's rapid depreciation, and surging raw material and energy prices are cited as new concerns, with the environment described as challenging. - FY2022-Q3WorsenedAnnual report
「Meanwhile, downside risks to the economy gradually increased due to the renewed spread of virus variants, restrictions on economic activity in China and growing tensions surrounding the situation in Ukraine, as well as surging raw material prices, supply constraints, the yen's depreciation in the financial and capital markets and rising consumer prices.」
The renewed spread of infection, restrictions on economic activity in China, the situation in Ukraine, surging raw material prices, supply constraints, the yen's depreciation and rising consumer prices are cited as downside risks to the economy, with the risks reported to have gradually increased. - FY2022-Q2WorsenedAnnual report
「Although signs of a recovery were seen in both corporate earnings and personal consumption, uncertainty about the outlook continued due to downside risks to the economy, including surging raw material prices, increased volatility in the financial and capital markets and supply chain constraints, amid the prolonged spread of infection caused by new virus variants and growing tensions surrounding the situation in Ukraine.」
In addition to the existing risks related to infectious diseases, supply chains and raw material prices, growing tensions surrounding the situation in Ukraine and increased volatility in the financial and capital markets are cited, with downside risks to the economy reported to continue. - FY2022-Q1WorsenedAnnual report
「Although signs of a recovery were seen in both corporate earnings and personal consumption, uncertainty about the outlook continued due to downside risks to the economy, including supply chain disruptions, surging raw material prices and concerns over the renewed spread of infection caused by new virus variants.」
While referring to signs of an economic recovery, supply chain disruptions, surging raw material prices and concerns over the renewed spread of infection caused by new virus variants are cited as new downside risks to the economy, with uncertainty about the outlook reported to continue. - FY2021RestatedAnnual report
「A highly challenging environment continued, including the impact throughout the year of the spread of COVID-19 variants and other infectious diseases.」
The spread of virus variants, concerns over a sixth wave and other factors continue to be reported as contributing to an uncertain external environment, including infectious diseases. - FY2021-Q3RestatedAnnual report
「However, uncertainty about the outlook continued as the risk that the impact of COVID-19 would cause domestic and overseas economies to underperform increased due to the implementation of emergency measures and priority preventive measures in areas where infections were spreading, as well as the spread of virus variants.」
Continued uncertainty about the outlook arising from COVID-19, including emergency measures, priority preventive measures and the spread of virus variants, is reported. - FY2021-Q2WorsenedAnnual report
「However, the risk that the impact of COVID-19 would cause domestic and overseas economies to underperform increased due to the reissuance of states of emergency and the spread of new variants, and uncertainty about the outlook continued.」
The reissuance of states of emergency and the spread of virus variants are cited, with the increased risk that COVID-19 would cause domestic and overseas economies to underperform being reported. - FY2021-Q1WorsenedAnnual report
「However, the risk that the impact of COVID-19 would cause domestic and overseas economies to underperform increased, and uncertainty about the outlook continued.」
The risk that COVID-19 would cause domestic and overseas economies to underperform is reported to have increased. - FY2020RestatedAnnual report
「Concerns over stagnation in economic activity caused by the spread of COVID-19 and trends toward changes in lifestyles and business models, among other factors, have become more diverse than before.」
Uncertainty about the outlook arising from the spread of infection, stagnation in economic activity, and changes in lifestyles and business models continues to be reported. - FY2020-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy was on a moderate recovery track against a backdrop of steady improvement in employment and income conditions. However, the global spread of COVID-19 constrained economic activity and caused significant volatility in the financial and capital markets, resulting in difficult economic conditions. Although the state of emergency declared in April 2020 was lifted in May, uncertainty about the outlook continued as social and economic activity was gradually increased while measures to prevent infection were implemented.」
The constraint on economic activity caused by COVID-19, volatility in the financial and capital markets, and continued uncertainty about the outlook after the state of emergency continue to be reported. - FY2020-Q2WorsenedAnnual report
「The economy entered a difficult phase as economic activity was constrained by the global spread of COVID-19 and the financial and capital markets experienced significant volatility.」
In addition to the existing uncertainty surrounding overseas economies and financial markets, the global spread of COVID-19 constrained economic activity, resulting in difficult economic conditions. - FY2020-Q1WorsenedAnnual report
「However, uncertainty about the outlook continued due to developments concerning U.S.-China trade friction, uncertainty surrounding overseas economies, and the impact of the consumption tax rate increase.」
In addition to the existing uncertainty surrounding U.S.-China trade friction and overseas economies, the impact of the consumption tax rate increase is cited as a new source of uncertainty. - FY2019-Q3RestatedAnnual report
「However, uncertainty about the outlook continued due to developments surrounding U.S.-China trade friction, uncertainty in overseas economies, and the impact of volatility in financial and capital markets.」
Uncertainty about the outlook arising from U.S.-China trade friction, overseas economies and volatility in financial and capital markets continues to be cited. - FY2019-Q2RestatedAnnual report
「However, uncertainty about the outlook continued due to developments surrounding U.S.-China trade friction, uncertainty in overseas economies, and the impact of volatility in financial and capital markets.」
Uncertainty about the outlook arising from U.S.-China trade friction, overseas economies and volatility in financial and capital markets continues to be cited. - FY2019-Q1WorsenedAnnual report
「However, uncertainty about the outlook increased amid developments in U.S.-China trade friction, uncertainty in overseas economies, and the effects of volatility in financial and capital markets.」
U.S.-China trade friction, overseas economies and volatility in financial and capital markets are cited as factors that increased uncertainty about the outlook. - FY2018RestatedAnnual report
「However, uncertainty persisted amid uncertainty in overseas economies, the effects of volatility in financial and capital markets, and developments related to trade friction.」
Uncertainty about the outlook arising from overseas economies, financial and capital markets, and trade friction continues to be cited. - FY2018-Q3RestatedAnnual report
「However, uncertainty persisted amid uncertainty in overseas economies, the effects of volatility in financial and capital markets, and developments related to trade friction.」
Uncertainty about the outlook arising from overseas economies, financial and capital markets, and trade friction continues to be cited. - FY2018-Q2WorsenedAnnual report
「However, uncertainty about the outlook has been increasing amid uncertainty in overseas economies, the effects of volatility in financial and capital markets, and developments related to trade friction.」
In addition to overseas economies and financial markets, trade friction is cited as a source of increasing uncertainty about the outlook. - FY2018-Q1RestatedAnnual report
「However, uncertainty persisted, including uncertainty in overseas economies, the effects of volatility in financial and capital markets, and the North Korea issue, making it difficult to be unreservedly optimistic about the outlook.」
Uncertainty in overseas economies, volatility in financial and capital markets, and the North Korea issue continue to be cited as sources of uncertainty about the outlook. - FY2017RestatedAnnual report
「However, uncertainty persisted amid the effects of U.S. political and economic policies and monetary policy, economic conditions in China and other emerging Asian countries, and developments involving North Korea.」
U.S. policy, developments in China and other emerging Asian economies, and the situation involving North Korea continue to be cited as sources of uncertainty in the external environment. - FY2017-Q3RestatedAnnual report
「However, it remained difficult to assess the outlook due to the impact of U.S. political and economic policies and monetary policy normalization, economic conditions in emerging Asian countries, particularly China, and the UK's withdrawal from the EU.」
Continues to identify the United States, China and other emerging Asian countries, the UK's withdrawal from the EU and monetary policy as sources of uncertainty in the external environment. - FY2017-Q2RestatedAnnual report
「However, uncertainty about the outlook continued due to downside risks to the economies of emerging Asian countries, particularly China, developments in the political and economic policies of the new U.S. administration, and the impact of monetary policy normalization.」
Continues to identify downside risks to emerging Asian economies, U.S. policy developments and the impact of monetary policy normalization as sources of uncertainty in the external environment. - FY2017-Q1RestatedAnnual report
「However, uncertainty about the outlook continued due to downside risks to the economies of emerging Asian countries, developments in the political and economic policies of the new U.S. administration, and the impact of monetary policy normalization.」
Continues to identify downside risks to emerging Asian economies and developments in U.S. government and monetary policy as sources of uncertainty in the external environment. - FY2016RestatedAnnual report
「However, uncertainty about the outlook has continued due to concerns over an economic slowdown in emerging Asian countries, particularly China, and resource-exporting countries, yen appreciation and stock price declines, volatility in domestic and international financial and capital markets, and developments surrounding the UK's withdrawal from the EU since the beginning of the year.」
Continues to identify China's economic slowdown, yen appreciation and stock price declines, financial market volatility and the UK's withdrawal from the EU as sources of uncertainty in the external environment. - FY2016-Q3First statedAnnual report
「Since the beginning of the year, concerns over economic stagnation in emerging Asian countries, particularly China, and resource-exporting countries have driven yen appreciation and stock price declines. In addition to sluggish corporate earnings growth and increasing caution regarding business conditions ahead, uncertainty has intensified regarding future economic and consumer trends due to the impact of the Kumamoto Earthquake, developments in U.S. monetary policy, the UK's withdrawal from the EU and other factors.」
Identifies yen appreciation and stock price declines, the Kumamoto Earthquake, U.S. monetary policy and the UK's withdrawal from the EU as sources of uncertainty in the external environment.