Uncertainty in Overseas Economies and Downside Risks to Economic Conditions
First written in FY2017-Q2. 17 of 31 entries say "Worsened", first in FY2019-Q2. Latest entry: 2026-05-08.
The whole theme swung hardest in 2022: 132 of 174 companies on the "Worse" side.
- 2026-05-08WorsenedRevisions to earnings forecasts
「In the next fiscal year, there is a risk that aviation demand will weaken because of factors including China’s advisories against travel and higher fuel prices resulting from worsening conditions in the Middle East.」
Identified China’s travel advisories and higher fuel prices associated with the situation in the Middle East as downside factors for aviation demand in the next fiscal year. - FY2026-H1WorsenedAnnual report
「Looking ahead, gradual recovery is expected to be supported by improvements in employment and income conditions and the effects of various policy measures. However, attention is required regarding downside risks to the economy from the impact of U.S. trade policy. In addition, the continued rise in prices poses a risk of putting downward pressure on the economy through effects on personal consumption, including a deterioration in consumer sentiment.」
Regarding overseas economic and downside risks, the company explicitly identified the impact of continued price increases on consumer sentiment and personal consumption, in addition to U.S. trade policy. - FY2025WorsenedAnnual report
「Although spending by visitors to Japan reached a record high and domestic travel remained firm, the situation requires close attention to the impact of China's economic weakness, developments in U.S. trade policy and foreign exchange fluctuations on future consumption trends.」
Regarding overseas economic risks, the company newly identified China's economic weakness, U.S. trade policy and foreign exchange fluctuations as factors requiring attention in relation to consumption trends. - FY2025-H1WorsenedAnnual report
「However, a downturn in overseas economies, including the effects of persistently high interest rates in Europe and the United States and the continued stagnation of China's real estate market, poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to the effects of rising prices, the situation in the Middle East and fluctuations in financial and capital markets.」
The company explicitly identified persistently high interest rates in Europe and the United States and stagnation in China's real estate market as factors contributing to a downturn in overseas economies, while continuing to monitor rising prices, the situation in the Middle East and fluctuations in financial markets. - FY2024RestatedAnnual report
「However, in addition to concerns about the effects of global monetary tightening and the future outlook for the Chinese economy, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to rising prices, the situation in the Middle East and fluctuations in financial and capital markets.」
The company continued to identify overseas economies, the Chinese economy, rising prices, financial markets and the situation in the Middle East as matters requiring attention. - FY2024-Q3WorsenedAnnual report
「However, in addition to concerns about the effects of global monetary tightening and the future outlook for the Chinese economy, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to rising prices, the situation in the Middle East, fluctuations in financial and capital markets, and the impact of the 2024 Noto Peninsula Earthquake.」
In addition to the existing concerns about overseas economies, financial markets and rising prices, the company added the situation in the Middle East and the impact of the 2024 Noto Peninsula Earthquake as matters requiring attention. - FY2024-Q2RestatedAnnual report
「However, in addition to concerns about the effects of global monetary tightening and the future outlook for the Chinese economy, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to the effects of rising prices and fluctuations in financial and capital markets.」
The company continued to identify global monetary tightening, the outlook for the Chinese economy, a downturn in overseas economies, rising prices and fluctuations in financial and capital markets as matters requiring attention. - FY2023WorsenedAnnual report
「If changes in the international situation, such as a deterioration in Japan-China relations resulting from a Taiwan contingency, cause demand for international air travel to decline.」
Regarding international situation risk, the company explicitly identified a deterioration in Japan-China relations resulting from a Taiwan contingency and a decline in international air travel demand as new assumed risks. - FY2023-Q3WorsenedAnnual report
「However, amid continued global monetary tightening and other factors, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to the effects of rising prices, supply-side constraints and fluctuations in financial and capital markets, as well as the impact of the spread of infection in China.」
In addition to the existing focus on global monetary tightening, overseas economies, rising prices and fluctuations in financial markets, the company newly identified the impact of the spread of infection in China. - FY2023-Q2WorsenedAnnual report
「However, amid continued global monetary tightening and other factors, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. It is also necessary to pay close attention to the effects of rising prices, supply-side constraints and fluctuations in financial and capital markets.」
In addition to a downturn in overseas economies, the company identified global monetary tightening, rising prices, supply constraints and fluctuations in financial and capital markets as downside risks to the economy. - FY2023-Q1WorsenedAnnual report
「However, it is necessary to pay close attention to downside risks arising from fluctuations in financial and capital markets and rising raw material prices amid continued global monetary tightening, as well as supply-side constraints.」
In addition to the existing uncertainty related to infectious diseases, overseas economies and financial markets, the company identified global monetary tightening, rising raw material prices and supply-side constraints as downside risks to the economy. - FY2022WorsenedAnnual report
「The situation involving Russia and Ukraine is changing daily, and its future impact remains uncertain. At present, however, trade has been disrupted by economic sanctions imposed on Russia by Western countries, among other factors, significantly affecting the global economy. Russia's invasion of Ukraine has also led to further surges in resource and food prices, semiconductor shortages and a depreciation of the yen in foreign exchange markets.」
In addition to uncertainty surrounding overseas economies, the company added trade disruption resulting from the situation involving Russia and Ukraine, surging resource and food prices, semiconductor shortages and yen depreciation as specific downside risks. - FY2022-Q3WorsenedAnnual report
「Looking ahead, the economy is expected to recover as various policy measures take effect and overseas economies improve while every effort is made to prevent infections and socioeconomic activity continues. However, it is necessary to pay close attention to downside risks from the impact of infectious diseases, supply-side constraints and trends in raw material prices. It is also necessary to monitor the effects of fluctuations in financial and capital markets.」
In addition to the existing risks related to infectious diseases, overseas economies and fluctuations in financial and capital markets, the company newly identified downside risk to the economy from supply-side constraints and trends in raw material prices. - FY2022-Q2WorsenedAnnual report
「Looking ahead, the economy is expected to recover as various policy measures take effect and overseas economies improve while thorough infection-control measures are implemented and vaccinations are promoted. However, it is necessary to pay close attention to downside risks arising from impacts through supply chains. It is also necessary to monitor the effects of developments in infectious diseases in Japan and overseas and fluctuations in financial and capital markets.」
In addition to the existing focus on infectious diseases and fluctuations in financial and capital markets, the company newly identified downside risk to the economy from impacts through supply chains. - FY2022-Q1RestatedAnnual report
「Looking ahead, the recovery is expected to continue as various policy measures take effect and overseas economies improve while measures to prevent the spread of infection are implemented and vaccination is promoted. However, it is necessary to pay close attention to the impact of infection trends on the domestic and overseas economies.」
While expecting a recovery supported by vaccinations and improvements in overseas economies, the company continued to pay attention to the impact of infection trends on the domestic and overseas economies. - FY2021-Q3WorsenedAnnual report
「Looking ahead, the recovery is expected to continue amid measures to prevent the spread of infection, supported by the effects of various policies and improvements in overseas economies. However, it is necessary to pay close attention to the increasing downside risk to the economy from the spread of infections in Japan and overseas.」
The company explicitly identified the increasing downside risk to the economy from the spread of infections in Japan and overseas, broadening its risk assessment from the existing risks related to overseas economies and financial markets to include the risk of a renewed spread of infection. - FY2021-Q2RestatedAnnual report
「Looking ahead, the recovery is expected to continue as various policy measures take effect and overseas economies improve while measures to prevent the spread of infection are implemented and the level of socioeconomic activity is raised. However, the situation requires close attention to the course of infectious diseases in Japan and overseas and fluctuations in financial and capital markets.」
The company identified developments in infectious diseases in Japan and overseas and fluctuations in financial and capital markets as matters requiring continued attention. - FY2020WorsenedAnnual report
「From late February this year onward, the global impact of COVID-19 expanded, leading many countries to impose measures such as restrictions on overseas travel and stay-at-home orders. Japan also strengthened quarantine measures and invalidated visas, among other steps. As a result, the number of visitors to Japan from around the world fell below the previous year, declining by approximately 90%.」
In addition to uncertainty surrounding overseas economies and international affairs, global travel restrictions, stay-at-home orders and strengthened quarantine measures materialized as an approximately 90% decline in the number of visitors to Japan. - FY2020-Q3WorsenedAnnual report
「However, the situation requires attention to consumer sentiment following the increase in the consumption tax rate.」
In addition to the existing risks related to overseas economies and financial markets, the company identified consumer sentiment following the consumption tax rate increase, the Chinese economy, and the impact of the novel virus on passenger demand as areas requiring attention. - FY2020-Q2RestatedAnnual report
「However, the situation requires attention to the sharp decline in visitors to Japan from South Korea since August this year and uncertainty surrounding China's economic outlook.」
The Company continued to highlight the need to monitor uncertainty surrounding China's economic outlook. - FY2020-Q1RestatedAnnual report
「However, the situation requires increased attention to the impact of developments in trade issues on the global economy, as well as to China's economic outlook, uncertainty surrounding overseas economic developments and policies, and the effects of volatility in financial and capital markets.」
The Company continued to highlight the need to monitor trade issues, China's economy, uncertainty surrounding overseas economies and policies, and volatility in financial and capital markets. - FY2019WorsenedAnnual report
「In particular, China's economy is slowing gradually, and this trend is expected to continue for the time being. However, the effects of various policies are expected to emerge gradually. Depending on developments in and the impact of trade issues, there is a risk that the economy could deteriorate.」
The Company described more specifically than before the slowdown in China's economy and the risk of an economic downturn arising from trade issues. - FY2019-Q3RestatedAnnual report
「In particular, while China's economy has shown signs of stalling in its recovery, it is expected to move toward recovery going forward. However, depending on developments in and the impact of trade issues, there is a risk that the economy could deteriorate.」
The Company continued to highlight the need to monitor the stalling of China's economy and the risk of an economic downturn arising from trade issues. - FY2019-Q2WorsenedAnnual report
「Looking ahead, a gradual recovery is expected to continue, supported by continued improvement in employment and income conditions and the effects of various policies. However, the situation requires close attention to the impact of trade issues on the global economy, uncertainty in overseas economies and volatility in financial and capital markets, as well as the economic impact of a succession of natural disasters.」
In addition to the previously identified uncertainty in overseas economies and volatility in financial and capital markets, the Company explicitly identified trade issues and the economic impact of successive natural disasters as risks, broadening the areas requiring attention. - FY2019-Q1RestatedAnnual report
「Looking ahead, a gradual recovery is expected to continue, supported by continued improvement in employment and income conditions and the effects of various policies. However, the situation requires attention to the effects of uncertainty in overseas economies and volatility in financial and capital markets.」
The Company continued to highlight the need to monitor uncertainty in overseas economies and volatility in financial and capital markets. - FY2018-Q3RestatedAnnual report
「Japan's economy continued on a gradual recovery trend during the first 3 quarters of the current consolidated fiscal year. Looking ahead, a gradual recovery is expected, supported by continued improvement in employment and income conditions and the effects of various policies. However, the situation requires attention to the effects of uncertainty in overseas economies and volatility in financial and capital markets.」
The Company continued to highlight the need to monitor uncertainty in overseas economies and volatility in financial and capital markets. - FY2018-Q2RestatedAnnual report
「Looking ahead, a gradual recovery is expected, supported by continued improvement in employment and income conditions and the effects of various policies. However, the situation requires attention to the effects of uncertainty in overseas economies and volatility in financial and capital markets.」
The Company continued to highlight the need to monitor uncertainty in overseas economies and volatility in financial and capital markets. - FY2018-Q1RestatedAnnual report
「Looking ahead, a gradual recovery is expected, supported by continued improvement in employment and income conditions and the effects of various policies. However, the situation requires attention to the effects of uncertainty in overseas economies and volatility in financial and capital markets.」
The Company continued to highlight the need to monitor uncertainty in overseas economies and volatility in financial and capital markets. - FY2017RestatedAnnual report
「Looking ahead, a gradual recovery is expected, supported by continued improvement in employment and income conditions and the effects of various policies. However, the situation requires attention to the effects of uncertainty in overseas economies and volatility in financial and capital markets.」
The Company continued to highlight the possibility that uncertainty in overseas economies and volatility in financial and capital markets could put downward pressure on the domestic economy. - FY2017-Q3RestatedAnnual report
「Looking ahead, a gradual recovery is expected, supported by continued improvement in employment and income conditions and the effects of various policies. However, uncertainty in overseas economies and the effects of volatility in financial and capital markets pose risks of downward pressure on Japan's economy.」
The Company maintained its view that uncertainty in overseas economies posed a risk of downward pressure on the domestic economy and also cited volatility in financial and capital markets. - FY2017-Q2First statedAnnual report
「Weakness was evident in overseas economies, and the risk that downturns in China and other emerging Asian economies and resource-rich countries, as well as growing uncertainty in overseas economies including the UK's withdrawal from the EU, would put downward pressure on Japan's economy has emerged.」
Downturns in China and elsewhere and uncertainty in overseas economies, including the UK's EU withdrawal issue, were first described as external risks that could put downward pressure on Japan's economy.