Risk of economic downturn and higher costs from the situation in Ukraine, inflation, high crude oil prices and foreign exchange movements
First written in FY2022. 8 of 14 entries say "Materialised", first in FY2023-Q1. Latest entry: 2026-10-29.
Shokubun moved to the "Worse" side of this theme in 2022, 2 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 48 of 84 companies on the "Worse" side.
9 other companies' latest entry also says "Other".
- FY2026Recovery trend alongside trade, Middle East and cost risksAnnual report
「During the current fiscal year, the Japanese economy showed signs of improvement in personal consumption and employment conditions. Corporate earnings also showed signs of improvement, although the impact of U.S. trade policy remained, while attention was required regarding the situation in the Middle East.」
The company indicates improvements in personal consumption, employment conditions and corporate earnings, while also noting that the impact of U.S. trade policy remains and newly highlighting the need to monitor the situation in the Middle East. - 2026-05-14OtherEarnings
「Although corporate earnings showed signs of improvement despite the continuing impact of U.S. trade policy, attention is required regarding the situation in the Middle East.」
In addition to stating that the impact of U.S. trade policy remains, the company indicated that attention is required regarding the situation in the Middle East. - FY2026-H1MaterialisedAnnual report
「During the interim consolidated accounting period, the Japanese economy was generally on a recovery trend, although the impact of U.S. trade policy was evident.」
The company describes U.S. trade policy not merely as a future concern but as a factor whose impact was evident during the interim consolidated accounting period. - FY2025WorsenedAnnual report
「During the consolidated fiscal year, the Japanese economy remained uncertain amid rising inbound demand and continued improvement in employment and income conditions, while being affected by persistently higher raw material and energy prices, prolonged uncertainty overseas, the U.S. administration’s trade policies and the weaker yen.」
With raw material and energy prices continuing to rise and the yen continuing to weaken, the company has identified the prolonged instability in overseas conditions and the U.S. administration's trade policy as new external risks. - FY2025-H1WorsenedAnnual report
「The effects on the domestic economy of the yen's depreciation against the backdrop of the Japan-U.S. interest rate differential, growing expectations of higher interest rates, and the continuing trend of rising prices have left the outlook uncertain.」
The company cites the yen's depreciation, rising prices and growing expectations of higher interest rates, explaining that uncertainty continues in the external environment and in funding and cost conditions. - FY2024MaterialisedAnnual report
「On the other hand, as price increases caused by higher resource and raw material prices and the weakening yen continue, consumers are becoming more inclined to economize, and the economic outlook remains uncertain.」
Higher resource and raw material prices, the weakening yen and price increases continued during the current fiscal year, with consumers' increased inclination to economize and the effects on results of operations becoming evident. - FY2024-Q1MaterialisedAnnual report
「On the other hand, due to external conditions including the situation in Ukraine and the prolonged weakening of the yen, high procurement prices and logistics costs resulting from soaring raw material and energy prices are expected to persist, and the outlook remains uncertain.」
The company states that the situation in Ukraine, the weakening yen, soaring raw material and energy prices, and elevated procurement prices and logistics costs continued during the current quarter. - FY2023MaterialisedAnnual report
「During the consolidated fiscal year, the economy appeared to be gradually recovering following the government’s relaxation of movement restrictions related to COVID-19. However, as in the previous fiscal year, conditions remained uncertain because of the situation in Russia and Ukraine, the yen’s depreciation accompanying substantial interest-rate hikes in the United States and Europe, higher oil and fuel costs and utility expenses resulting from higher crude oil prices, and labor shortages.」
The situation in Ukraine, the weakening yen, high crude oil prices, higher fuel and utility costs, and labor shortages have continued as actual conditions in the operating environment during the current fiscal year. - FY2023-Q3MaterialisedAnnual report
「During the cumulative third quarter of the consolidated fiscal year, Japan’s economy showed signs of a gradual recovery as economic activity moved toward normalization following the lifting of the government’s restrictions on movement related to COVID-19. However, the operating environment remained challenging because of surging raw-material and energy prices, concerns over exchange-rate trends including the yen’s depreciation, and rising prices. The global economy also remained uncertain, owing to the prolonged situation in Ukraine, the impact on the economy of the sharp increase in COVID-19 cases in China, and concerns that the global inflationary phase could develop into an economic recession.」
Soaring raw material and energy prices, the weakening yen and higher prices have continued to affect the actual operating environment. The company also cites the prolonged situation in Ukraine, a sharp increase in COVID-19 cases in China and concerns about an economic downturn due to global inflation. - FY2023-Q2MaterialisedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economic outlook became uncertain due to the resurgence of COVID-19 driven by new variants, surging resource and raw material prices, and rising prices caused by the yen's depreciation,」
Soaring resource and raw material prices and price increases caused by the weakening yen are described as actual conditions in the operating environment, with cost-inflation factors continuing to emerge. - FY2023-Q1MaterialisedAnnual report
「On the other hand, the outlook remains uncertain due to price increases caused by soaring global resource prices and the emergence of geopolitical risks resulting from heightened international tensions.」
The company describes price increases caused by soaring global resource prices and the emergence of geopolitical risks resulting from heightened international tensions as actual conditions in the operating environment. - FY2022First statedAnnual report
「For the fiscal year ending March 2023, the outlook remains uncertain due to the prolonged COVID-19 pandemic, the impact of geopolitical risks such as the situation in Ukraine and the resulting higher prices, soaring crude oil prices, and the impact of foreign exchange movements resulting from the interest rate policies of various countries.」
The company separately identified geopolitical risks such as the situation in Ukraine, higher prices, soaring crude oil prices and the impact of foreign exchange movements resulting from the interest rate policies of various countries, in addition to the existing risks relating to personal consumption and economic uncertainty. It described increases in prices of commodities, crude oil and energy as factors that had actually arisen in the operating environment during the current fiscal year.