Impact on performance from yen appreciation associated with the slowdown in Asian emerging-market economies and the UK's withdrawal from the EU
First written in FY2017-Q1. 10 of 27 entries say "Reframed", first in FY2018-Q1. Latest entry: 2026-08-05.
Nippo 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: 144 of 176 companies on the "Worse" side.
70 other companies' latest entry also says "Worsened".
- FY2026-H1ReframedAnnual report
「During the interim consolidated accounting period under review, the economic environment deteriorated due to the impact of U.S. tariff policies and conditions in the Middle East and Ukraine, leaving the economy in an uncertain environment.」
The concerns in the external environment have changed from the previous description of stagnation in China's real estate market and other factors to deterioration in the economic environment caused by U.S. tariff policies and conditions in the Middle East and Ukraine. - FY2025-H1Addition of stagnation in China's real estate market, among other factorsAnnual report
「During the interim consolidated accounting period under review, continued inflation accompanying global monetary tightening, the impact of stagnation in China's real estate market, the prolonged situation in Ukraine and heightened tensions in the Middle East exerted downward pressure on overseas economies overall.」
In addition to the previous monetary tightening, inflation, slowdown in the Chinese economy and situations in Ukraine and the Middle East, stagnation in China's real estate market was specifically identified as a factor exerting downward pressure on overseas economies. - FY2024Addition of geopolitical riskAnnual report
「During the consolidated fiscal year under review, continued inflation accompanying global monetary tightening, the slowdown in the Chinese economy, the prolonged situation in Ukraine and heightened tensions in the Middle East exerted broad downward pressure on overseas economies. Meanwhile, Japan's economy remained on a gradual recovery path, as personal consumption and capital investment continued to increase following the easing of various COVID-19 restrictions and progress toward normalization of socioeconomic activity.」
In addition to the previous monetary tightening, inflation, slowdown in the Chinese economy and situations in Ukraine and the Middle East, the prolonged situation in Ukraine and heightened tensions in the Middle East were added as factors exerting downward pressure on overseas economies. - FY2024-Q3RestatedAnnual report
「During the first 3 quarters of the fiscal year under review, continued inflation accompanying global monetary tightening and the slowdown in the Chinese economy exerted broad downward pressure on overseas economies. Meanwhile, Japan's economy remained on a gradual recovery path, as personal consumption and capital investment continued to increase following the easing of various COVID-19 restrictions and progress toward normalization of socioeconomic activity.」
Global monetary tightening, continued inflation and the slowdown in the Chinese economy continue to be cited as factors exerting downward pressure on overseas economies. - FY2024-Q2Addition of monetary tightening, inflation and a slowdown in the Chinese economyAnnual report
「During the first half of the fiscal year under review, continued inflation accompanying global monetary tightening and the slowdown in the Chinese economy exerted broad downward pressure on overseas economies. Meanwhile, Japan's economy remained on a gradual recovery path, as personal consumption and capital investment continued to increase following the easing of various COVID-19 restrictions and progress toward normalization of socioeconomic activity.」
In addition to the previous supply shortages and economic security issues, global monetary tightening, continued inflation and the slowdown in the Chinese economy were identified as factors exerting downward pressure on overseas economies. - FY2024-Q1Addition of supply-chain impacts from economic security measuresAnnual report
「Meanwhile, the Group's business environment continued amid three negative factors: (1) semiconductor supply shortages remained unresolved in some industries and regions; (2) resource prices, including power costs, continued to rise; and (3) initiatives by various countries concerning economic security and other matters affected supply chains.」
In addition to the existing semiconductor shortages and soaring resource and power costs, the impact of economic security initiatives by various countries on supply chains was identified as a new adverse factor. - FY2023-Q3Addition of soaring power costsAnnual report
「During the cumulative third quarter of the consolidated fiscal year, the Group's business environment was affected by disruptions to supply chains caused by the spread of the novel coronavirus disease and shortages of semiconductors and electronic components. Production plans fluctuated significantly by industry, region and customer, while the rapid depreciation of the yen, soaring resource prices and higher power costs also made it impossible to accurately foresee the outlook for business performance.」
In addition to the ongoing supply-chain disruptions, semiconductor shortages, yen depreciation and soaring resource prices, soaring power costs were identified as a source of uncertainty in the external environment. - FY2023-Q1ReframedAnnual report
「During the cumulative first quarter of the consolidated fiscal year, the Group's business environment was affected by disruptions to supply chains caused by the spread of the novel coronavirus disease and shortages of semiconductors and electronic components. Production plans fluctuated significantly by industry, region and customer, while the rapid depreciation of the yen, soaring resource prices and higher logistics costs also made it impossible to accurately foresee the outlook for business performance.」
The focus of risk has shifted from uncertainty in the external environment centered on trade issues and the Chinese economy to fluctuations in production plans caused by pandemic-related supply-chain disruptions, semiconductor shortages, the sharp depreciation of the yen, and soaring resource and logistics costs. - FY2022ReframedAnnual report
「While movement restrictions were imposed in various countries due to the spread of COVID-19, customers planned recovery production to meet strong demand. However, the progress of recovery production varied by industry and customer due to the effects of shortages of semiconductors and electronic components, labor shortages and soaring logistics costs.」
The focus has shifted from uncertainty in the external environment centered on trade issues and the Chinese economy to variations in recovery production caused by movement restrictions due to the pandemic, shortages of semiconductors and electronic components, labor shortages and soaring logistics costs. - FY2022-Q3ReframedAnnual report
「During the first 3 quarters of the fiscal year under review, the business environment surrounding our Group was characterized by movement restrictions imposed in the countries where we operate due to the spread of COVID-19, while customers proceeded with recovery production to meet strong demand. However, the global issue of shortages of semiconductors and electronic components slowed this momentum.」
In addition to movement restrictions in various countries due to the pandemic, the global issue of shortages of semiconductors and electronic components, which slowed customers' recovery production, was highlighted as a source of uncertainty in the external environment. - FY2021-Q1ReframedAnnual report
「During the first quarter of the fiscal year under review, the global economy deteriorated rapidly as economic activity was severely restricted by the worldwide spread of COVID-19, in addition to the continuation of international trade issues.」
The wording concerning sources of uncertainty in the global economy has changed to specifically identify the worldwide spread of COVID-19 and severe restrictions on economic activity, in addition to the previous trade issues and slowdown in the Chinese economy. - FY2020-Q3ReframedAnnual report
「Meanwhile, the global economy remained in an uncertain environment due to the outlook for the Chinese economy, developments surrounding trade issues, and the impact of the UK's withdrawal from the EU.」
The wording concerning sources of uncertainty in the global economy has changed from the previous description centered on U.S.-China trade friction and the slowdown in emerging-market economies to wording citing the outlook for the Chinese economy, trade issues and the impact of the UK's withdrawal from the EU. - FY2020-Q2ReframedAnnual report
「Meanwhile, the global economy remained in an uncertain environment amid the aforementioned slowdown in the Chinese economy and continuing trade issues involving the United States, China and other countries.」
The wording concerning sources of uncertainty in the global economy has changed from a general reference to trade issues to wording that specifically identifies the slowdown in the Chinese economy. - FY2019RestatedAnnual report
「Meanwhile, the global economy remained uncertain due to the impact of U.S.-China trade friction and other trade issues.」
Uncertainty in the global economy arising from U.S.-China trade friction and trade issues continues to be cited as a concern in the external environment. - FY2019-Q3ReframedAnnual report
「During the cumulative third quarter of the consolidated fiscal year, Japan's economy continued to recover, with capital investment remaining firm on improved corporate earnings and personal consumption recovering gradually. Meanwhile, concerns remained over the global economy, including heightened uncertainty resulting from prolonged US-China trade friction and a slowdown in emerging-market economies, and the outlook remained uncertain.」
The wording has changed from the previous reference to the impact of a superpower's trade policies, among other factors, to specific concerns about uncertainty resulting from the prolonged U.S.-China trade friction and a slowdown in emerging-market economies. - FY2019-Q2SoftenedAnnual report
「Meanwhile, the global economy remained uncertain due to the impact of trade policies adopted by a superpower, among other factors.」
The previous specific enumeration of protectionist trade policies and increasing instability in Europe and the Middle East has been simplified to the impact of a superpower's trade policies, among other factors, and the stated range of concerns has therefore narrowed. - FY2019-Q1ReframedAnnual report
「Meanwhile, the global economy remained in an uncertain environment due in part to protectionist trade policies by a superpower and increasing instability in Europe and the Middle East.」
The wording has changed from the previous description centered on the slowdown in the Chinese and emerging-market economies and conditions on the Korean Peninsula to wording identifying protectionist trade policies and increasing instability in Europe and the Middle East as new sources of uncertainty. - FY2018RestatedAnnual report
「Meanwhile, although the economic outlook remained uncertain amid instability on the Korean Peninsula, capital investment and employment conditions improved in the United States, and China, Europe and the ASEAN countries also continued to recover gradually.」
While acknowledging the recovery trend in the United States, China, Europe and ASEAN, the uncertainty surrounding the economic outlook due to conditions on the Korean Peninsula continues to be cited as a concern in the external environment. - FY2018-Q3RestatedAnnual report
「Meanwhile, the global economy remained uncertain, despite progress in capital investment and improvement in the employment environment in the United States and a continued, albeit gradual, recovery in Europe, as instability on the Korean Peninsula persisted.」
While acknowledging the recovery trend in the United States and Europe, the uncertainty surrounding the economic outlook due to conditions on the Korean Peninsula continues to be identified as an external risk. - FY2018-Q2RestatedAnnual report
「During the first half of the fiscal year under review, Japan's economy remained on a gradual recovery path overall, as personal consumption recovered and employment conditions continued to improve, although some regions suffered extensive damage from natural disasters. Meanwhile, capital investment and employment increased in the United States, and Europe also continued on a gradual recovery path, but uncertainty about the economic outlook persisted amid continued instability on the Korean Peninsula.」
While acknowledging the recovery trend in Japan and overseas, the uncertainty surrounding the economic outlook due to conditions on the Korean Peninsula continues to be identified as an external risk. - FY2018-Q1ReframedAnnual report
「Meanwhile, the Chinese economy, which had been slowing, showed signs of recovery, and the United States and Europe also continued on a gradual recovery path. However, the outlook for the economy remained uncertain due to concerns about the impact of the new U.S. administration on the economy and instability on the Korean Peninsula.」
The wording has changed from the previous description of a stronger yen accompanying the slowdown in the Chinese and emerging-market economies and the UK's withdrawal from the EU to wording that acknowledges the recovery in the Chinese economy while identifying concerns about the impact of the new U.S. administration and conditions on the Korean Peninsula as new sources of uncertainty. - FY2017RestatedAnnual report
「Meanwhile, although employment conditions improved in the United States, the global economy remained in an uncertain environment due to the slowdown in the Chinese and emerging-market economies, the aforementioned decision by the United Kingdom to leave the EU, and the election of a new U.S. president.」
The slowdown in the Chinese and emerging-market economies, the UK's withdrawal from the EU and the uncertainty accompanying the election of a new U.S. president continue to be cited as concerns in the external environment. - FY2017-Q3RestatedAnnual report
「During the first 3 quarters of the fiscal year under review, Japan's economy remained on a gradual recovery path, with employment conditions improving, although corporate capital investment lacked momentum and the yen's appreciation adversely affected the performance of export-oriented companies. Meanwhile, although the recovery in employment and personal consumption continued in the United States, the Chinese and emerging-market economies also slowed in many regions, leaving the global economy overall lacking momentum.」
Weak domestic capital investment, the stronger yen and the slowdown in the Chinese and emerging-market economies continue to be identified as external factors affecting the business environment. - FY2017-Q2RestatedAnnual report
「Corporate capital investment remained weak, while the yen's appreciation adversely affected the performance of export-oriented companies. Meanwhile, although the recovery in employment and personal consumption continued in the United States, the Chinese and emerging-market economies also slowed in many regions, leaving the global economy overall lacking momentum.」
Weak domestic capital investment, the stronger yen and the slowdown in the Chinese and emerging-market economies continue to be identified as external factors affecting the business environment. - FY2017-Q1MaterialisedAnnual report
「The slowdown in emerging Asian economies, led by China, and the rapid appreciation of the yen resulting from the UK's withdrawal from the European Union had a significant impact on corporate earnings.」
The appreciation of the yen caused by the slowdown in emerging Asian economies and the UK's withdrawal from the European Union is described as an event that affected corporate earnings.