Fluctuations in Foreign Exchange Rates, Stock Prices and Other Markets Driven by Overseas Factors
First written in FY2017-Q3. 12 of 32 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2027-H1.
Arclands moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2020: 40 of 57 companies on the "Worse" side.
16 other companies' latest entry also says "Other".
- FY2027-H1The weaker yen, higher raw material costs, and uncertainty surrounding monetary policy and international affairsAnnual report
「The business environment also remains uncertain, as the cost burden from higher personnel and logistics expenses continues, while the outlook remains unclear because of changes in monetary policy in Japan and overseas and in international affairs.」
In addition to the previous uncertainties surrounding foreign exchange rates, overseas economies and financial markets, higher personnel and logistics expenses and changes in monetary policy in Japan and overseas and in international affairs were cited as factors contributing to uncertainty. - FY2026WorsenedAnnual report
「In addition to persistently high raw material, logistics, and energy costs, higher financing costs due to rising interest rates are weighing on corporate earnings. Although the effects of various policies are expected to support the economy, the outlook remains uncertain due to factors including price trends, US trade policy, and volatility in financial and capital markets.」
In addition to the existing exchange rate, overseas economic, and cost concerns, US trade policy, volatility in financial and capital markets, and higher financing costs due to rising interest rates were explicitly identified as concerns in the external environment. - 2026-04-14WorsenedRevision of earnings forecasts
「In addition to persistently high raw-material, logistics and energy costs, higher funding costs due to rising interest rates are also weighing on corporate earnings. Although economic conditions are expected to receive support from the effects of various policies, uncertainty remains due to factors including price trends, U.S. trade policy and volatility in financial and capital markets.」
In addition to the existing high-cost environment, higher funding costs due to rising interest rates, U.S. trade policy and volatility in financial and capital markets were cited as sources of uncertainty. - FY2026-H1Continued uncertainty in exchange rates, financial conditions, and the overseas economyAnnual report
「In addition, uncertainty remains in the economic outlook against a backdrop of exchange rate movements, the future direction of financial conditions, and uncertainty in the overseas economy.」
Although the economy remains on a recovery trend, exchange rate movements, the future direction of financial conditions, and uncertainty in the overseas economy continue to be sources of uncertainty in the economic outlook. - FY2026-H1Continued uncertainty in exchange rates, financial conditions, and the overseas economyAnnual report
「Although energy and imported raw material prices have shown signs of settling on an import price basis, they remain elevated on a corporate goods price basis, so the cost environment is uneven. In addition, uncertainty remains in the economic outlook against a backdrop of exchange rate movements, the future direction of financial conditions, and uncertainty in the overseas economy.」
In addition to the existing concerns over yen depreciation and higher costs, the difference between import prices and corporate goods prices, exchange rate movements, the future direction of financial conditions, and uncertainty in the overseas economy were cited as sources of uncertainty in the economic outlook. - FY2025-H1WorsenedAnnual report
「However, the economic outlook remains uncertain due to the prolonged situation in Ukraine, persistently high raw material and energy prices caused by tensions in the Middle East, and sharp exchange rate fluctuations. In addition, concerns remain about the effects of a slowdown in the Chinese economy on domestic companies’ exports and production activity, as well as the impact on the broader economy of rising interest rates in Japan’s financial markets.」
In addition to the existing situation in Ukraine, yen depreciation, and higher costs, tensions in the Middle East, a slowdown in the Chinese economy, and rising domestic interest rates were added as overseas and financial market factors. - FY2025-Q1Recovery driven by inbound consumption coexisting with overseas and cost factorsAnnual report
「The economy showed a gradual recovery as economic activity normalised and inbound consumption increased. However, the economic outlook remained uncertain and difficult owing to persistently high energy and raw-material prices resulting from the prolonged situation in Ukraine and the yen's depreciation.」
Regarding overseas and external conditions, recovery factors from the normalization of economic activity and increased inbound consumption were added, while concerns over the situation in Ukraine, the depreciation of the yen, and persistently high energy and raw material prices continued. - FY2024Progress toward normalization coexisting with overseas and cost factorsAnnual report
「Following the reclassification of COVID-19 as a Class 5 disease, the economy was gradually recovering as normal economic activity before the pandemic was restored. However, the economic outlook remained uncertain and difficult owing to the prolonged situation in Ukraine, the yen's continued depreciation, and persistently high energy and raw-material prices.」
Regarding overseas and external conditions, economic activity continued to normalize, while the situation in Ukraine, the depreciation of the yen, and persistently high energy and raw material prices continued. - FY2024-Q3Progress toward economic normalization coexisting with overseas and cost factorsAnnual report
「The reclassification of COVID-19 as a Class 5 disease supported progress toward normalising economic activity and a gradual economic recovery. However, the economic outlook remained uncertain and difficult owing to the prolonged situation in Ukraine, the yen's continued depreciation, and persistently high energy and raw-material prices.」
Regarding overseas and external conditions, progress toward normalization following the transition of COVID-19 to Category V was noted, while the situation in Ukraine, the depreciation of the yen, and persistently high energy and raw material prices continued. - FY2024-Q2Transition to Category V for COVID-19 coexisting with overseas and cost factorsAnnual report
「During the second quarter of the fiscal year (from 1 March 2023 to 31 August 2023), the economy was moving toward a gradual recovery following the reclassification of COVID-19 as a Class 5 disease. However, the economic outlook remained uncertain and difficult owing to the prolonged situation in Ukraine, the yen's continued depreciation, and persistently high energy and raw-material prices.」
Although the transition of COVID-19 to Category V indicated a path toward economic recovery, overseas and cost factors, including the situation in Ukraine, the depreciation of the yen, and persistently high energy and raw material prices, continued. - FY2024-Q1Normalization coexisting with an overseas slowdown and higher costsAnnual report
「As restrictions associated with COVID-19 were eased, economic activity gradually moved toward normal. However, concerns over a slowdown in overseas economies and persistently high energy and raw-material prices owing to the prolonged situation in Ukraine meant that the economic outlook remained uncertain and difficult.」
Although signs of normalization emerged as restrictions on activity related to the pandemic were eased, concerns about a slowdown in the overseas economy and elevated energy and raw material prices associated with the situation in Ukraine continued as external environmental risks. - FY2023-Q3Signs of economic normalization coexisting with overseas and cost factorsAnnual report
「Although there are signs that the economy is moving toward normalization as restrictions on economic activity related to COVID-19 are eased, the economic outlook remains uncertain and severe due to factors including higher raw material prices arising from the situation in Ukraine and the depreciation of the yen.」
Although the easing of restrictions on economic activity related to the pandemic was cited as a positive factor, uncertainty in the external environment due to the situation in Ukraine, higher raw material prices, and the depreciation of the yen continued. - FY2023-Q2WorsenedAnnual report
「Although economic and social activity is beginning to normalize as restrictions on activity are eased amid the further spread of COVID-19, the economic outlook remains uncertain and severe due to factors including geopolitical risks arising from the situation in Ukraine and the impact of higher crude oil and raw material prices on personal consumption.」
Regarding overseas and external conditions, the further spread of the infection, the situation in Ukraine, geopolitical risks, and higher crude oil and raw material prices continued or were newly identified as specific sources of uncertainty. - FY2023-Q1WorsenedAnnual report
「The economic outlook remains uncertain and severe due to the rapid depreciation of the yen, successive increases in product prices accompanying higher energy and raw material prices, and the impact of the Russia-Ukraine situation on the global economy.」
In addition to the pandemic and the Russia-Ukraine situation, the depreciation of the yen, higher energy and raw material prices, and product price increases were specified as external environmental factors. - FY2022WorsenedAnnual report
「The outlook for the economy remains uncertain due to factors including the future impact of COVID-19 in Japan and overseas and economic sanctions imposed by countries in response to Russia’s invasion of Ukraine.」
In addition to the existing uncertainty in the external environment caused by the pandemic, Russia’s invasion of Ukraine and economic sanctions imposed by countries were added as overseas factors. - FY2022-Q3Recovery trend coexisting with uncertainty in the external environment due to new variantsAnnual report
「The economy was on a gradual recovery trend due to a decline in infections as COVID-19 vaccinations became more widespread and the effects of various policies, among other factors. However, concerns over the spread of new variants remain, and the outlook continues to be uncertain.」
Although a recovery trend supported by declining infections and the effects of government policies was noted, the external economic environment remains uncertain due to concerns over the spread of variants. - FY2022-Q2External environment amid the continuing spread of infectionAnnual report
「During the second quarter of the fiscal year (from 21 February 2021 to 20 August 2021), vaccinations against COVID-19 had begun, but the spread of infections continued, with declarations of a state of emergency and other measures issued intermittently, and the outlook remained uncertain.」
Although the start of vaccinations was cited as a positive factor, the view that the outlook remains uncertain due to the spread of infection, states of emergency, and other factors continues. - FY2022-Q1WorsenedAnnual report
「The further spread of COVID-19 has had a significant impact on economic activity, including the reissuance of states of emergency and the implementation of priority preventive measures in some areas. At the same time, there are positive signs, such as the start of vaccinations. Nevertheless, the economic outlook remains uncertain and severe.」
The effects of the further spread of the infection and the reissuance of states of emergency and similar measures were newly specified as external economic factors. Although the start of vaccinations was a positive sign, uncertainty and severe conditions continued. - FY2021WorsenedAnnual report
「We will continue to improve gross profit margins by integrating procurement and development functions, not only for private-label products.」
Following the integration with Viva Home, the risks became more specific, including difficulties obtaining private-label products procured from overseas suppliers and higher procurement costs due to exchange rate movements, broadening exposure to overseas factors. - FY2021-Q3WorsenedAnnual report
「Following the lifting of the state of emergency, there were signs of partial recovery in domestic economic activity. However, the spread of the third wave could not be contained, and the outlook remains uncertain.」
Severe external conditions caused by the stagnation of domestic and overseas economic activity continued, while the spread of the third wave sustained uncertainty about the outlook. - FY2021-Q2Signs of partial recovery amid continuing severe external conditionsAnnual report
「The economy deteriorated rapidly as the spread of COVID-19 caused economic activity in Japan and overseas to stagnate and contract. After the state of emergency was lifted, some signs of recovery emerged in domestic economic activity, but the outlook remained extremely difficult and uncertain.」
Although the economy remained in a state of rapid deterioration due to the stagnation and contraction of economic activity in Japan and overseas, signs of partial recovery emerged in the domestic economy. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year (from 21 February 2020 to 20 May 2020), the Japanese economy had remained on a gradual recovery path owing to improvements in corporate earnings and employment conditions. However, economic activity in Japan and overseas stagnated or contracted as the spread of COVID-19 disrupted activity, causing the economy to deteriorate rapidly and enter an extremely difficult situation.」
In the external environment, including the overseas economy, stagnation and contraction of economic activity associated with the spread of COVID-19 were added, and the description of the economic downturn became more severe than before. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, the Japanese economy remained on a gradual recovery trend, supported by improving employment and income conditions and corporate earnings. However, the outlook remained uncertain due to factors including US-China trade friction, the UK’s withdrawal from the EU, and the impact of the spread of COVID-19.」
In addition to the existing US-China trade friction and the UK’s withdrawal from the EU, the impact of the spread of COVID-19 was added as a source of uncertainty in the overseas and economic environment. - FY2020-Q2WorsenedAnnual report
「During the six months ended 20 August 2019 (from 21 February 2019 to 20 August 2019), the Japanese economy was on a gradual recovery trend, supported by steady corporate earnings and improving employment and income conditions. However, the global economy remained uncertain due to intensifying trade friction between the United States and China, the UK’s withdrawal from the EU, worsening Japan-South Korea relations, and other factors.」
Regarding overseas factors, trade friction between the United States and China was described as “intensifying,” while worsening Japan-South Korea relations were newly specified in addition to the UK’s withdrawal from the EU. - FY2020-Q1ReframedAnnual report
「Competition in the home-improvement retail sector, the main business of our group, has intensified, including competition from other industries, and difficult conditions continue.」
Regarding overseas factors, the specific references used in the previous fiscal year, including US-China trade friction and the UK’s withdrawal from the EU, have been replaced this quarter with references to trade issues, uncertainty in the overseas economy, and volatility in financial and capital markets. - FY2019ReframedAnnual report
「Meanwhile, the outlook for the global economy remains uncertain due to factors including US-China trade friction and the UK’s withdrawal from the EU.」
The description of overseas factors has again been included, with the previous reference to geopolitical risks and other factors made more specific as US-China trade friction and the UK’s withdrawal from the EU, among others. - FY2019-Q3DroppedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
Natural disasters and intensifying competition are cited in the business environment for the current quarter, but fluctuations in exchange rates and share prices caused by geopolitical risks and other overseas factors, which had been cited through the previous quarter, are not mentioned separately. - FY2019-Q2RestatedAnnual report
「During the second quarter of the fiscal year (from 21 February 2018 to 20 August 2018), the Japanese economy was on a gradual recovery path, supported by improvements in corporate earnings and employment and income conditions. However, consumer spending remained lacklustre, geopolitical risks were a concern, and the uncertain environment continued.」
“Geopolitical risks,” the description of overseas factors cited in the previous quarter, continues to be listed as a concern. - FY2019-Q1ReframedAnnual report
「During the first quarter of the fiscal year (from 21 February 2018 to 20 May 2018), the Japanese economy was on a gradual recovery path, supported by continued improvements in corporate earnings and employment conditions and the effects of various government policies. However, consumer spending remained weak, geopolitical risks were a concern, and the business environment remained uncertain.」
Compared with the previous fiscal year’s concerns over uncertainty in the overseas economy and volatility in financial and capital markets, the description of overseas factors this quarter has been replaced with “geopolitical risks and other factors.” - FY2018Re-emergence of overseas and financial market risksAnnual report
「Meanwhile, concerns remain over the impact of uncertainty in the overseas economy and volatility in financial and capital markets, and the outlook remains uncertain.」
Concerns over overseas factors and financial market volatility, which had not been separately mentioned since the first quarter, were again explicitly identified as risks in the business environment in the annual report. - FY2018-Q1DroppedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
Volatility in foreign exchange rates, share prices and other indicators due to overseas factors is not separately identified in this quarterly report. - FY2017-Q3First statedAnnual report
「Personal consumption is slowing, while foreign exchange rates, share prices and other indicators remain volatile due to uncertain overseas factors, and the outlook remains uncertain.」
The third-quarter report explicitly identifies volatility in foreign exchange rates, share prices and other indicators due to overseas factors as a standalone risk factor for the first time.