Recovery in Domestic and Overseas Demand and a Gradual Recovery Trend
First written in FY2018-Q3. 15 of 27 entries say "Reframed", first in FY2019. Latest entry: FY2026.
Gecoss moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 7 of 17 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「During the consolidated fiscal year under review (fiscal 2025), Japan's economy was believed to have remained on a gradual growth path. However, the prolonged tensions in the Middle East and their impact on crude oil prices and other prices, as well as the effects of rising prices and interest rates, are concerns for the future, and we believe developments must continue to be monitored closely.」
The assessment has been updated from the previous view of a gradual recovery trend to a growth trend, while adding conditions in the Middle East, crude oil prices, rising prices, and rising interest rates as new concerns. - FY2026-H1ReframedAnnual report
「During the six-month interim consolidated accounting period under review (April 2025 to September 2025), Japan's economy was believed to have remained on a gradual growth path. However, the effects of high prices on personal consumption and the effects of higher U.S. tariffs in some industries are beginning to emerge, and we believe developments must continue to be monitored closely.」
The economic assessment has been updated to add the effects of high prices on personal consumption and the emerging impact of higher U.S. tariffs to the previous recognition of a recovery and growth trend. - FY2025-H1ReframedAnnual report
「During the six-month interim consolidated accounting period under review (April 2024 to September 2024), Japan's economy was believed to be on a gradual recovery path, with recent positive signs such as real wages turning positive year on year. However, persistently high prices, the sustained weakness of the yen, the slowdown in the Chinese economy, and worsening conditions in the Middle East remain concerns, and we believe developments must continue to be monitored closely.」
While recognizing the gradual recovery trend and the positive sign of real wages turning positive year on year, worsening conditions in the Middle East were added to persistently high prices, the sustained weakness of the yen, and the slowdown in the Chinese economy as factors of concern. - FY2024ReframedAnnual report
「During the consolidated fiscal year under review (fiscal 2023), Japan's economy continued on a gradual recovery path as economic activity normalized. However, we believe concerns about the outlook, including persistently high prices, labor shortages, and the effects of the slowdown in the Chinese economy, have not been dispelled.」
The assessment shifted from the previous severe view centered on the sharp downturn caused by COVID-19 to one that recognized a gradual recovery as economic activity normalized while identifying high prices, labor shortages, and the slowdown in the Chinese economy as concerns. - FY2024-Q3WorsenedAnnual report
「During the nine-month period of the consolidated fiscal year ended December 2023 (April 2023 to December 2023), the Japanese economy continued on a gradual recovery path, but the pace of recovery was expected to remain slow due to the effects of monetary tightening in Europe and the US becoming apparent and the impact of the slowdown in the Chinese economy.」
Although the gradual recovery trend has been maintained, the company presents a more cautious economic assessment, stating that the recovery is losing momentum due to the effects of monetary tightening becoming apparent and the slowdown in the Chinese economy. - FY2024-Q2ReframedAnnual report
「During the six-month period of the consolidated fiscal year ended September 2023 (April 2023 to September 2023), the Japanese economy remained on a gradual recovery path, but uncertainty about the outlook was expected to continue due to concerns about prolonged monetary tightening in Europe and the US, the sustained depreciation of the yen and a slowdown in the Chinese economy.」
The wording has been updated to add prolonged monetary tightening in Europe and the United States, the sustained weakness of the yen, and a slowdown in the Chinese economy to the previous assessment indicating the normalization of economic and social activity and a recovery trend. - FY2024-Q1ReframedAnnual report
「During the three-month period of the consolidated fiscal year ended June 2023 (April 2023 to June 2023), the Japanese economy appeared to be on a gradual recovery path as economic and social activity normalized. However, uncertainty about the outlook had not been dispelled due to persistently high prices and concerns about a slowdown in the Chinese economy.」
The wording has been updated to recognize the gradual recovery trend resulting from the normalization of economic and social activity while also citing persistently high prices and concerns about a slowdown in the Chinese economy as new sources of concern. - FY2023-Q3RestatedAnnual report
「During the nine months ended 31 December 2022, Japan's economy was assumed to be continuing its gradual recovery. However, in addition to persistent inflation in Europe and the United States and the risk of recession, the impact of soaring prices and rising interest rates in Japan is also a concern, and we believe the outlook remains unpredictable.」
While assuming that the economy will continue its gradual recovery, the assessment has been reaffirmed as one of an uncertain outlook, citing inflation in Europe and the United States, recession risk, and soaring prices and rising interest rates in Japan. - FY2023-Q2ReframedAnnual report
「During the six months ended 30 September 2022, Japan's economy showed signs of a gradual recovery. However, global monetary tightening and the resulting downside risk to overseas economies, the sustained weakness of the yen, and continued increases in resource and food prices were recognized as risks, and we believe uncertainty about the outlook remains unresolved.」
While recognizing the recovery of economic and social activity, the assessment has been updated from one focused on infectious diseases and resource prices to one that also cites global monetary tightening, downside risk to overseas economies, the sustained weakness of the yen, and rising resource and food prices. - FY2023-Q1ReframedAnnual report
「During the first three months of the fiscal year under review (April 2022 to June 2022), Japan's economy showed signs of a gradual recovery against the backdrop of progress toward normalizing economic and social activity. However, rising resource and food prices and the weakening yen continued to weigh on the economy, and we believe uncertainty about the outlook remains unresolved.」
The economic assessment has been updated to recognize a recovery resulting from the normalization of economic and social activity, while identifying rising resource and food prices and the weakening yen as headwinds. - FY2022ReframedAnnual report
「During the consolidated fiscal year under review, Japan's economy continued to show a gradual recovery, and progress was made toward normalizing economic and social activity in response to COVID-19. However, the impact of soaring resource prices and other prices has spread, partly because of Russia's invasion of Ukraine, and we believe uncertainty about the economic outlook has increased.」
The assessment changed from one centered on the sharp downturn caused by COVID-19 to one that recognized the recovery in economic activity while placing greater emphasis on uncertainty about the outlook due to soaring resource and other prices and Russia's invasion of Ukraine. - FY2022-Q3WorsenedAnnual report
「Although the gradual recovery trend has continued, supported by the recovery of the overseas economy and domestic consumption, the impact of COVID-19 variants has recently been expanding, and we believe the situation remains unpredictable.」
While recognizing the recovery of the overseas economy and domestic consumption, the economic assessment has become more cautious, with the expanding impact of variants making the outlook unpredictable rather than representing a conventional recovery phase. - FY2022-Q2ReframedAnnual report
「During the cumulative second quarter of the current fiscal year (April 2021 to September 2021), the Japanese economy continued to show signs of a gradual recovery due to the recovery of overseas economies and progress in domestic vaccinations, although concerns remained over the impact of soaring resource prices and uncertainty in financial markets.」
The economic assessment changed from the previous severe view, centered on a significant decline in domestic and external demand due to COVID-19 and the resurgence of infections, to wording that recognized a recovery driven by the improving overseas economy and progress in vaccinations while also citing higher resource prices and uncertainty in financial markets as new concerns. - FY2022-Q1ReframedAnnual report
「During the cumulative first quarter of the fiscal year ending March 2022 (April to June 2021), the Japanese economy was in the process of a gradual recovery, supported by the recovery in overseas economies and expectations for the effects of wider vaccine coverage in Japan. However, the economy is expected to remain uneven for the time being owing to concerns about a renewed spread of infections.」
The wording is changing from the previous severe view centred on a substantial decline in domestic and external demand due to COVID-19 to one that cites a recovery supported by the recovery in overseas economies and expectations for vaccination, alongside an uneven recovery caused by the renewed spread of infections. - FY2021WorsenedAnnual report
「During the fiscal year ended March 2021, the Japanese economy experienced a substantial decline in both domestic and external demand owing to COVID-19. With no clear prospect for the pandemic to subside, corporate earnings showed divergent trends, with some industries beginning to recover, while the prolonged weakness in personal consumption continued, leaving economic uncertainty unresolved.」
In addition to the substantial decline in domestic and external demand, it cites divergent corporate earnings and a prolonged slump in personal consumption, making the economic outlook more severe. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year ending March 2021 (April to December 2020), the Japanese economy experienced a substantial decline in both domestic and external demand owing to COVID-19. Although signs of a recovery emerged toward the end of 2020, the impact has recently intensified again, and the uncertain outlook continues.」
It states that the substantial decline in domestic and external demand and uncertainty about the outlook continue, while the impact of COVID-19 has intensified again after the recovery toward year-end. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the fiscal year ending March 2021 (April to September 2020), the Japanese economy experienced a substantial decline in both domestic and external demand owing to the spread of COVID-19. Although signs of a recent recovery have emerged, the outlook remains highly uncertain because the end of the pandemic cannot be foreseen.」
Amid the continuing view of a sharp decline and an uncertain outlook, it states that both domestic and external demand fell substantially and that the end of the pandemic cannot be foreseen. It also mentions the recent recovery. - FY2021-Q1ReframedAnnual report
「During the cumulative first quarter of the fiscal year ending March 2021 (April to June 2020), the Japanese economy experienced a sharp decline in both domestic and external demand owing to the spread of COVID-19. Although signs of the downturn bottoming out have recently emerged, uncertainty about the outlook has not been dispelled.」
The view changed from the previous gradual recovery outlook to one of a sharp decline in domestic and external demand due to COVID-19, with signs that the decline has bottomed out but continued uncertainty about the outlook. - FY2020ReframedAnnual report
「During the consolidated fiscal year (the company’s 53rd fiscal year), the Japanese economy remained on a gradual recovery path, but in addition to US-China trade friction, the spread of the novel coronavirus since the beginning of the year has begun to affect the global economy more than anticipated.」
The wording is changing from the previous view of a gradual recovery path to one that also cites the greater-than-expected impact of US-China trade tensions and the novel coronavirus on the global economy. - FY2020-Q3RestatedAnnual report
「During the nine-month period of the consolidated fiscal year ended December 2019 (April 2019 to December 2019), the Japanese economy continued to be supported by firm domestic demand despite weakening external demand due to concerns about the course of US-China trade negotiations. Although the consumption-tax increase had a temporary impact, the economy appeared to remain on a gradual recovery path.」
It reconfirms the view that a gradual economic recovery is continuing, with firm domestic demand providing support despite weakness in external demand. - FY2020-Q2RestatedAnnual report
「During the six-month period of the consolidated fiscal year ended September 2019 (April 2019 to September 2019), the Japanese economy continued to be supported by firm domestic demand despite weakening external demand, particularly from China, amid uncertainty over the course of US-China trade negotiations. Although consumption temporarily declined following the consumption-tax increase, the economy appeared likely to continue its gradual recovery.」
It reconfirms the view that a gradual economic recovery will continue, with firm domestic demand providing support while external demand, particularly demand from China, weakens. - FY2020-Q1ReframedAnnual report
「During the three-month period of the consolidated fiscal year ended June 2019 (April 2019 to June 2019), the Japanese economy remained on a gradual recovery path led by domestic demand, but external demand continued to weaken amid ongoing uncertainty about the outlook for the Chinese economy.」
The wording is changing from the view expressed in the previous fiscal year, which included signs of stagnation resulting from the slowdown in the Chinese economy, to one that indicates a gradual, domestic-demand-led recovery while also citing weakness in external demand and uncertainty surrounding the Chinese economy. - FY2019ReframedAnnual report
「During the consolidated fiscal year (the company’s 52nd fiscal year), the Japanese economy remained on a gradual recovery path, but signs of stagnation emerged recently due in part to the slowdown in the Chinese economy. With external demand weakening, domestic demand continued to support the economy.」
The wording changed from the previous view of a recovery in domestic and external demand to one that also cites signs of stagnation resulting from the slowdown in the Chinese economy and weakness in external demand. - FY2019-Q3RestatedAnnual report
「During the nine-month period of the consolidated fiscal year ended December 2018 (April 2018 to December 2018), the Japanese economy appeared to remain on a gradual recovery path. However, uncertainty about the economic outlook has intensified, triggered by US-China trade friction, and concerns also remain about downside risks going forward.」
While indicating that the domestic economy remains on a gradual recovery path, it also cites uncertainty about the outlook stemming from US-China trade tensions. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year ending March 2019 (April to September 2018), the Japanese economy was seen to remain resilient against a backdrop of firm domestic and overseas economic conditions and to continue on a gradual recovery path.」
It reconfirms the view that domestic and overseas economic conditions remain resilient and that the economy is on a gradual recovery path. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year ending March 2019 (April to June 2018), the Japanese economy was seen to be continuing on a gradual recovery path, with both domestic and external demand remaining resilient.」
It reconfirms the view that domestic and external demand remain resilient and that the economy continues on a gradual recovery path. - FY2018-Q3First statedAnnual report
「During the cumulative third quarter of the fiscal year ending March 2018 (April to December 2017), the Japanese economy was seen to be continuing on a gradual recovery path, with both domestic and external demand showing continued signs of recovery.」
It records for the first time as a standalone theme the view that domestic and external demand are recovering and that the Japanese economy remains on a gradual recovery path.