Impact on Exports from U.S. Protectionism and Trade Friction
First written in FY2019-Q1. 4 of 14 entries say "Restated". Latest entry: FY2025.
Shinden Hightex moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2022: 108 of 135 companies on the "Worse" side.
72 other companies' latest entry also says "Worsened".
- FY2025WorsenedAnnual report
「Downside risks to the economy, including the impact of US trade policies, are creating uncertainty over the outlook.」
The previous risks related to US-China trade friction and trade policies continue to be specifically recognized as downside risks to the economy resulting from US trade policies. - FY2024RestatedAnnual report
「The environment surrounding the Group is susceptible to the effects of changes in Japan's industrial structure, fluctuations in economic conditions, foreign exchange rates and supply and demand trends, and geopolitical risks, including international trade policies.」
The broader framework of geopolitical risks, including international trade policies, organized from the previous specific references to US protectionism and US-China trade friction, continues to be used. - FY2022ReframedAnnual report
「The environment surrounding the Group is susceptible to the effects of changes in Japan's industrial structure, fluctuations in economic conditions, foreign exchange rates and supply and demand trends, and geopolitical risks, including international trade policies.」
The risk framework has been broadened from the specific references to US protectionism and US-China trade friction used previously to geopolitical risks, including international trade policies. - FY2021WorsenedAnnual report
「Although the recovery in exports to China provided support, uncertainty over the outlook increased owing to concerns including the continued implementation of various measures restricting activity because no signs of the end of the disease were visible, and the intensification of trade issues such as the impact of US-China trade friction.」
Trade issues, including US-China trade friction, have intensified and, together with the infectious disease, are increasing uncertainty over the outlook for the economic and export environment. - FY2021-Q3RestatedAnnual report
「During the cumulative third-quarter period, the Japanese economy showed signs of recovery as economic activity gradually returned from the sharp downturn following the outbreak of COVID-19. However, concerns over a resurgence of the disease and an intensification of trade issues, including US-China trade friction, have increased uncertainty over the outlook.」
While economic activity has shown signs of recovery, the concern that trade issues, including US-China trade friction, may intensify continues to be reaffirmed. - FY2021-Q2WorsenedAnnual report
「While there are expectations of a recovery driven by the effects of various policies and an improvement in the global economy, concerns remain over an intensification of trade issues, including US-China trade friction.」
While there are expectations of an improvement in the global economy, concerns have been expressed over an intensification of trade issues, including US-China trade friction, and risks in the external environment persist. - FY2020MaterialisedAnnual report
「During the consolidated fiscal year, the Japanese economy was on a moderate recovery trajectory. Although exports to China declined owing to US-China trade friction, solid domestic demand-led capital investment and favorable employment conditions offset the decline in consumer spending following the pullback from front-loaded demand ahead of the consumption tax increase.」
US-China trade friction has continued to materialize in the actual economic environment as lower exports to China, also leading to a contraction in the business for industrial equipment. - FY2020-Q3MaterialisedAnnual report
「Declining exports resulting from the protectionist trade policies of the United States have constrained manufacturing activity and increased uncertainty over the economic outlook.」
The protectionist trade policies of the United States continue to materialize in the actual economic environment through their impact in restraining manufacturing activity by reducing exports. - FY2020-Q2RestatedAnnual report
「However, with the global economy generally lacking momentum, developments in trade issues, including the prolonged US-China trade friction, are increasing uncertainty over the outlook for the Japanese economy.」
Trade issues, including the prolonged US-China trade friction, continue to be identified as external risks increasing uncertainty over the outlook for the Japanese economy. - FY2020-Q1WorsenedAnnual report
「However, concerns over a loss of momentum in overseas economies, including the prolonged US-China trade friction, have increased uncertainty over the outlook for the Japanese economy.」
The prolonged US-China trade friction is described as contributing to concerns over a loss of momentum in overseas economies and increased uncertainty over the outlook for the Japanese economy. - FY2019MaterialisedAnnual report
「The slowdown in the Chinese economy caused by US-China trade friction slowed export growth and spread to lower production of industrial machinery and electronic components.」
US protectionist policies and trade friction have materialized in the form of a slowdown in the Chinese economy, slower exports and lower production of industrial machinery and electronic components. - FY2019-Q3MaterialisedAnnual report
「During the cumulative third-quarter period, the global economy faced growing uncertainty over its outlook as the Chinese economy's slowdown intensified under the impact of expanding trade friction caused by US protectionist policies, while the US economy continued to expand, led by domestic demand.」
US protectionist policies and trade friction have materialized in the external environment as a slowdown in the Chinese economy. - FY2019-Q2RestatedAnnual report
「Meanwhile, the protectionist policies of the United States aimed at improving its balance-of-payments deficit appear likely to cast a shadow over US-China relations and affect international trade.」
US protectionist policies, US-China relations and their impact on international trade continue to be identified as risks in the external environment. - FY2019-Q1First statedAnnual report
「The protectionist policies of the United States aimed at improving its balance-of-payments deficit appear likely to affect international trade.」
The outlook for the global and Japanese economies identifies, for the first time, concerns that US protectionist policies and trade friction may affect international trade and export industries as specific external risks.