Post-election economic pullback and protectionism risks in the United States
First written in FY2017-Q3. 13 of 21 entries say "Reframed", first in FY2017. Latest entry: FY2026-H1.
Restar moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 108 of 134 companies on the "Worse" side.
14 other companies' latest entry also says "Reframed".
- FY2026-H1ReframedAnnual report
「Downside risks to personal consumption from continued price increases and downside risks to the economy arising from developments in US trade policy are matters of concern. The outlook remains uncertain owing to geopolitical risks and exchange-rate fluctuations, among other factors.」
Concerns over developments in US trade policy and downside risks to personal consumption from rising prices have been added to the previous recognition of US-China tensions and trade frictions, among other factors. - FY2024-Q3ReframedAnnual report
「However, the outlook remains uncertain amid exchange-rate trends, China's economic slowdown, the prolonged situation involving Russia and Ukraine, and the escalating tensions in the Middle East.」
The recognition of the overseas environment has been updated to include escalating tensions in the Middle East in addition to the previous uncertainty arising from the situation involving Russia and Ukraine, exchange rates and the Chinese economy. - FY2023ReframedAnnual report
「During the consolidated fiscal year, economic activity that had been constrained by COVID-19 followed a recovery trend in Japan. At the same time, the economy was affected by various factors, including higher electricity charges and consumer prices resulting from elevated resource prices caused by the situation involving Russia and Ukraine, sharp exchange-rate fluctuations and adjustments to monetary easing measures.」
While recognizing the recovery in economic activity that had been constrained by the pandemic, the situation involving Russia and Ukraine, higher resource prices, rising electricity charges and consumer prices, exchange-rate fluctuations, and adjustments to monetary policy have been identified as sources of uncertainty. - FY2023-Q3ReframedAnnual report
「Higher prices resulting from unstable overseas conditions and elevated resource prices have continued, while the yen's trend of depreciation since the beginning of the fiscal year has recently shifted sharply toward yen appreciation. The economic outlook therefore remains uncertain.」
In addition to the previous uncertainty, including infectious diseases and US-China tensions, unstable overseas conditions, higher resource and consumer prices, and the reversal from yen depreciation to sharp yen appreciation have been identified as specific external factors. - FY2023-Q2ReframedAnnual report
「However, the outlook for the global economy remains uncertain, owing to soaring resource prices and higher consumer prices resulting from inflation amid the prolonged situation involving Russia and Ukraine, as well as the sharp depreciation of the yen following the widening interest-rate differential between Japan and the United States.」
In addition to the previous concerns over US-China tensions, trade frictions and infectious diseases, the situation involving Russia and Ukraine, higher resource prices, inflation and yen depreciation resulting from the Japan-US interest-rate differential have been identified as specific sources of uncertainty. - FY2023-Q1ReframedAnnual report
「The global situation remains uncertain, owing to factors including the impact on supply chains from higher resource prices resulting from the prolonged Russian invasion of Ukraine and lockdowns in Shanghai, as well as sharp foreign-exchange movements resulting from the interest-rate differential between Japan and the United States.」
In addition to the uncertainty arising from US-China tensions, trade frictions and COVID-19, the situation involving Russia and Ukraine, higher resource prices, the Shanghai lockdown and exchange-rate fluctuations have been added as specific external factors. - FY2021ReframedAnnual report
「In the Japanese economy during the consolidated fiscal year, signs of a recovery in operating rates across the electronics sector emerged in the second half. However, the environment surrounding the global economy remained uncertain due to the continued spread of COVID-19, the impact of lockdowns overseas, and prolonged US-China trade frictions, among other factors.」
The previous recognition of US-China trade issues, protectionism and geopolitical risks has been reorganized as uncertainty arising from COVID-19, lockdowns overseas and prolonged US-China trade frictions. - FY2021-Q3ReframedAnnual report
「During the nine months ended in the third quarter, production operating rates across the electronics industry showed signs of recovery. However, the external environment surrounding the global economy remained uncertain due to the continued spread of COVID-19, the impact of lockdowns overseas and prolonged trade friction between the United States and China.」
The company has added the impact of lockdowns overseas to the uncertainty previously attributed to trade friction between the United States and China and other factors, presenting these as external conditions coexisting with a recovery in production operating rates. - FY2021-Q2RestatedAnnual report
「Although signs of a gradual recovery in production operating rates and other indicators are emerging across the electronics industry, uncertainty persists due to concerns about the prolonged impact of the spread of COVID-19, particularly in Europe, and issues including tensions between the United States and China.」
The company reiterates concerns about the prolonged impact of COVID-19 and tensions between the United States and China as factors contributing to an uncertain outlook alongside the recovery trend. - FY2021-Q1ReframedAnnual report
「A slowdown and uncertainty in the economy as a whole continue due to concerns about the long-term impact of the spread of COVID-19 and issues including tensions between the United States and China.」
The company has reframed the uncertainty previously attributed to U.S.-China trade issues, protectionism and geopolitical risks as an economic slowdown and uncertainty affecting the economy as a whole, including the long-term impact of COVID-19 and tensions between the United States and China. - FY2020-Q3RestatedAnnual report
「Continued attention is required regarding the overall impact of an easing in trade friction between the United States and China, developments following the UK's withdrawal from the EU and exchange-rate trends.」
The company identifies the impact of U.S.-China trade friction, developments following the UK's withdrawal from the EU and exchange-rate trends on the overall economy as factors contributing to uncertainty that require continued attention. - FY2020-Q1ReframedAnnual report
「Meanwhile, concerns that trade friction between the United States and China could affect the existing supply chain structure remain, and the situation continues to be uncertain.」
The company has reframed the previous references to protectionism and geopolitical risks as the specific concern that trade friction between the United States and China could affect existing supply chains. - FY2019ReframedAnnual report
「During the consolidated fiscal year, Japan's economy was on a gradual recovery trend, supported by improvements in corporate earnings, employment conditions and capital investment against the backdrop of the economic and monetary policies of the government and the Bank of Japan. Looking overseas, however, uncertainty about the outlook has persisted due to US-China trade friction, the UK's Brexit issue and geopolitical risks, among other factors.」
The company has reframed the previous references to U.S. protectionism and an economic pullback as overseas economic factors contributing to uncertainty, including trade friction between the United States and China. - FY2019-Q3RestatedAnnual report
「During the nine-month period of the third quarter of the consolidated fiscal year, Japan's economy was on a gradual recovery trend, supported by improvements in corporate earnings, employment conditions and capital investment against the backdrop of the economic and monetary policies of the government and the Bank of Japan. Looking overseas, however, uncertainty about the outlook has persisted due to US-China trade issues, the UK's Brexit issue and geopolitical risks, among other factors.」
The company reiterates the situation, including trade issues between the United States and China, amid the previously cited uncertainty about the outlook due to protectionism, geopolitical risks and other factors. - FY2019-Q2RestatedAnnual report
「During the nine-month period of the second quarter of the consolidated fiscal year, Japan's economy was on a gradual recovery trend, supported by improvements in corporate earnings, employment conditions and capital investment against the backdrop of the economic and monetary policies of the government and the Bank of Japan. Looking overseas, however, uncertainty about the outlook has persisted due to US-China trade issues, the UK's Brexit issue and geopolitical risks, among other factors.」
The company reiterates the situation, including trade issues between the United States and China, amid the previously cited uncertainty about the outlook due to protectionism, geopolitical risks and other factors. - FY2019-Q1ReframedAnnual report
「Looking overseas, uncertainty about the outlook has persisted due to US-China trade issues, the UK's Brexit issue and geopolitical risks, among other factors.」
The company adds trade issues between the United States and China as a specific factor contributing to an uncertain outlook alongside the previous references to U.S. protectionism and geopolitical risks. - FY2018RestatedAnnual report
「The outlook remains uncertain due to the rise of protectionism, particularly in the United States, the issue of the United Kingdom's withdrawal from the EU and geopolitical risks.」
The company reiterates uncertainty about the outlook due to protectionism, the UK's withdrawal from the EU and geopolitical risks. - FY2018-Q2RestatedAnnual report
「The global economy remains on a moderate recovery path overall, although geopolitical risks have created uncertainty about the outlook.」
The company continues to recognize uncertainty about the outlook for the global economy due to geopolitical risks. - FY2018-Q1RestatedAnnual report
「The global economy remains on a moderate recovery path overall, although geopolitical risks have created uncertainty about the outlook.」
The company continues to recognize uncertainty about the outlook for the global economy due to geopolitical risks. - FY2017ReframedAnnual report
「Recently, the economy has continued to recover moderately as corporate earnings, employment conditions and capital investment improve. However, the outlook remains uncertain due to the rise of protectionism, particularly in the United States, and geopolitical risks.」
The wording has shifted from the recent reference to a post-U.S. presidential election economic pullback to more generalized factors contributing to an uncertain outlook, namely protectionism, including in the United States, and geopolitical risks. - FY2017-Q3First statedAnnual report
「The outlook remains uncertain due to concerns including a pullback in the Trump-led economic upswing and the rise of protectionism.」
The company identifies, for the first time, a post-U.S. presidential election economic pullback and the rise of protectionism as factors contributing to an uncertain outlook.