Political, Economic and Regulatory Risks in China, Asia and Latin America
First written in FY2016. 14 of 23 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 47 of 94 companies on the "Worse" side.
- FY2026RestatedAnnual report
「The Company Group conducts trade transactions with China and other parts of Asia. Unexpected disruptions in the region's political and economic conditions or changes in laws and regulations could impede business activities and affect operating results and financial condition.」
Reconfirms the political, economic, legal and regulatory risks associated with trade transactions with China, Asia and other regions. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, Japan's economy entered a moderate recovery trend against a backdrop of improving employment and income conditions and increased inbound demand. Meanwhile, uncertainty continued due to inflation driven by exchange-rate fluctuations, developments in US trade policy and prolonged geopolitical risks.」
While citing the economy's moderate recovery trend, it continues to identify exchange-rate fluctuations, US trade policy and prolonged geopolitical risks as factors contributing to uncertainty. - FY2025WorsenedAnnual report
「Japan's domestic economy is expected to remain on a moderate recovery trend, supported by solid corporate performance. However, uncertainty is expected to continue due to US tariff policies, exchange-rate trends, prolonged instability surrounding Ukraine and the Middle East, and concerns about China's economic outlook.」
US tariff policies have been newly identified as a factor contributing to uncertainty, in addition to the previously cited concerns about China's economy and the situation in Ukraine. Concerns about exchange rates, Ukraine and the Middle East, and China's economy continue. - FY2025-H1RestatedAnnual report
「Meanwhile, uncertainty continues due to inflation driven by exchange-rate fluctuations, the Ukraine issue, escalating tensions in the Middle East, the impact of global monetary tightening and concerns about China's economic outlook.」
Continues to cite exchange-rate fluctuations, the Ukraine issue, the situation in the Middle East, global monetary tightening and concerns about China's economic outlook as factors contributing to uncertainty in the political and economic environment, including overseas conditions. - FY2024WorsenedAnnual report
「Japan's domestic economy is entering a period of transition away from the prolonged deflationary phase, partly following the Bank of Japan's lifting of its zero-interest-rate policy. Meanwhile, conditions are expected to remain unpredictable due to higher prices resulting from rising costs, the prolonged issue in Ukraine, increasing geopolitical risks in the Middle East and downside risks to China's economy.」
In addition to the previously cited political, economic and regulatory risks in China, Asia and elsewhere, the heightened geopolitical risks in the Middle East, downside risks to China's economy and the prolonged issue in Ukraine have been cited, broadening the factors contributing to uncertainty surrounding overseas operations. - FY2024-Q3WorsenedAnnual report
「Meanwhile, uncertainty continues due to inflation driven by elevated resource and energy prices and exchange-rate fluctuations, the prolonged issue in Ukraine, the impact of global monetary tightening and concerns about China's economic outlook.」
In addition to the previously cited resource prices, exchange-rate fluctuations and situation in Ukraine, the impact of global monetary tightening and concerns about China's economic outlook have been explicitly stated, broadening the factors contributing to uncertainty in the political and economic environment, including overseas conditions. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy entered a moderate recovery trend as social and economic activity moved toward normalization. Meanwhile, uncertainty persisted due to elevated resource and energy prices, inflation driven by exchange-rate fluctuations, and the prolonged situation in Ukraine.」
While noting the normalization of social and economic activity and the economy's moderate recovery trend, it continues to indicate uncertainty arising from resource and energy prices, exchange-rate fluctuations, inflation and the prolonged situation in Ukraine. - FY2023-Q3RestatedAnnual report
「During the first 3 quarters, Japan's economy gradually recovered as vaccinations against the novel coronavirus infection became widespread and restrictions on movement were eased, promoting the normalization of social and economic activity. However, uncertainty persisted due to resource and energy price trends, inflation associated with sharp exchange-rate fluctuations and the prolonged war in Ukraine, and the situation remained difficult to predict.」
Continues to cite uncertain factors in the political and economic environment, including overseas conditions, such as the prolonged war in Ukraine, resource and energy prices, and sharp exchange-rate fluctuations. - FY2023-Q1RestatedAnnual report
「Meanwhile, uncertain factors, including rising resource prices such as crude oil, sharp exchange-rate fluctuations and the prolonged war in Ukraine, remain unresolved, leaving the economic outlook uncertain.」
Reconfirms rising resource prices, sharp exchange-rate fluctuations and the prolonged war in Ukraine as factors contributing to uncertainty in the political and economic environment, including overseas conditions. - FY2022WorsenedAnnual report
「As in the previous fiscal year, social and economic activity is expected to return to normal as a result of government policies addressing the novel viral infectious disease and the spread of vaccines. However, concerns remain that the war in Ukraine will be prolonged, and it will continue to be necessary to closely monitor the outlook for the global economy.」
A concern about the prolonged war in Ukraine has been newly stated regarding the overseas political and economic environment. In addition to the political, economic and regulatory risks in China, Asia and Latin America, factors contributing to uncertainty in the global economy have expanded. - FY2021RestatedAnnual report
「The Company's corporate group conducts trade transactions with China, other parts of Asia and Latin America, and operates a steel pipe manufacturing business in China. Disruptions in political and economic conditions or unexpected changes in laws and regulations in these regions may impede business activities and affect operating results and financial position.」
Reiterates the political, economic, legal and regulatory risks associated with trade transactions in China, Asia and Latin America and steel pipe manufacturing in China. - FY2020RestatedAnnual report
「The Company's corporate group conducts trade transactions with China, other parts of Asia and Latin America, and operates a steel pipe manufacturing business in China. Disruptions in political and economic conditions or unexpected changes in laws and regulations in these regions may impede business activities and affect operating results and financial position.」
Reiterates the political, economic, legal and regulatory risks associated with trade transactions in China, Asia and Latin America and steel pipe manufacturing in China. - FY2020-Q2RestatedAnnual report
「During the second quarter, Japan's economy remained on a moderate recovery trend as private consumption and employment conditions improved. However, increasingly cautious views of business conditions emerged, particularly in manufacturing, due to the slowing growth rate of capital investment. In addition, the consumption tax rate increase scheduled for October this year and the prolonged US-China trade friction left the economic outlook uncertain.」
Reiterates that the prolonged US-China trade friction, the consumption tax rate increase and the slowing growth rate of capital investment are factors contributing to an uncertain economic outlook. - FY2020-Q1RestatedAnnual report
「During the first quarter, Japan's economy remained on a moderate recovery trend against a backdrop of improving employment and income conditions. However, concerns about the impact on the global economy of prolonged US-China trade friction and the slowdown in China's economy created an uncertain outlook.」
Continues to identify the impact on the global economy of prolonged US-China trade friction and the slowdown in China's economy as concerns. - FY2019RestatedAnnual report
「The Company's corporate group conducts trade transactions with China, other parts of Asia and Latin America, and operates a steel pipe manufacturing business in China. Disruptions in political and economic conditions or unexpected changes in laws and regulations in these regions may impede business activities and affect operating results and financial position.」
Reiterates the political, economic, legal and regulatory risks associated with trade transactions in China, Asia and Latin America and steel pipe manufacturing in China. - FY2019-Q3WorsenedAnnual report
「During the third quarter, Japan's economy continued on a moderate expansionary trend. Although there were concerns about the impact on the global economy of the prolonged US-China trade friction and the slowdown in China's economy, corporate earnings and employment and income conditions continued to improve, while capital investment remained solid.」
Explicitly identifies the impact on the global economy of prolonged US-China trade friction and the slowdown in China's economy as concerns regarding the overseas political and economic environment. - FY2019-Q2WorsenedAnnual report
「During the second quarter, Japan's economy continued on a moderate expansionary trend. Although there were concerns about the impact on the global economy of the intensifying US-China trade friction, corporate earnings and employment and income conditions continued to improve, while capital investment increased and consumer sentiment improved.」
Explicitly identifies the impact of intensifying US-China trade friction on the global economy as a concern regarding the overseas political and economic environment. - FY2019-Q1Explicitly states concerns about US protectionism and trade friction.Annual report
「During the first quarter of the current fiscal year, Japan's economy continued on a moderate expansionary trend. Although concerns included the potential escalation of trade friction stemming from US protectionist policies, corporate earnings and employment and income conditions continued to improve, while capital investment increased and consumer sentiment improved.」
Explicitly identifies the escalation of trade friction resulting from US protectionist policies as a concern regarding the overseas political and economic environment. - FY2018RestatedAnnual report
「The Company's corporate group conducts trade transactions with China, other parts of Asia and Latin America, and operates a steel pipe manufacturing business in China. Disruptions in political and economic conditions or unexpected changes in laws and regulations in these regions may impede business activities and affect operating results and financial position.」
Reiterates the political, economic, legal and regulatory risks associated with trade transactions in China, Asia and Latin America and steel pipe manufacturing in China. - FY2018-Q3RestatedAnnual report
「Although developments in the Chinese economy and heightened geopolitical risks in some regions remain matters requiring attention, the economy has continued to expand moderately, supported by solid personal consumption and increased capital investment.」
The Company identifies developments in the Chinese economy and geopolitical risks in some regions as matters requiring attention, while stating that the domestic economy has continued to expand moderately. - FY2018-Q2RestatedAnnual report
「The outlook remains uncertain due to concerns about the future of emerging-market economies, including China, US policy developments, and the tense political situation surrounding North Korea's nuclear development.」
The Company repeats its identification of emerging-market economies including China, US policy developments, and the political situation surrounding North Korea's nuclear development as factors contributing to economic uncertainty. - FY2018-Q1More specific risk factorsAnnual report
「In addition to persistent concerns about geopolitical risks in Europe and Northeast Asia, the slowdown in emerging-market economies and other factors mean that the outlook remains uncertain.」
Regarding overseas political and economic conditions, the Company identifies geopolitical risks in Europe and Northeast Asia and the slowdown in emerging-market economies, in addition to China and Asia, as factors contributing to uncertainty. - FY2016First statedAnnual report
「The Company's corporate group conducts trade transactions with China, other parts of Asia and Latin America, and operates a steel pipe manufacturing business in China. Disruptions in political and economic conditions or unexpected changes in laws and regulations in these regions may impede business activities and affect operating results and financial position.」
Political, economic, legal and regulatory risks associated with the expansion of overseas transactions and manufacturing operations in China are explicitly identified.