Political, Social, Economic, and Legal and Regulatory Risks Associated with the China Business
First written in FY2016. 10 of 22 entries say "Restated". Latest entry: FY2025.
Sun A.Kaken moved to the "Worse" side of this theme in 2021, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 9 of 14 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「This reflects concerns about an economic slowdown in major trading-partner countries such as the US and China.」
Concerns about an economic slowdown in major trading partners, including China, continue to be identified as a factor behind the lack of strength in the domestic economy. - FY2025-H1RestatedAnnual report
「Meanwhile, the economic outlook remained uncertain due to concerns about sluggish exports resulting from the slowdown in the Chinese economy and weak consumption due to higher prices.」
Concerns about sluggish exports due to the slowdown in the Chinese economy coexisted with concerns about weak consumption due to higher prices, and uncertainty about the economic outlook continued. - FY2024-Q1WorsenedAnnual report
「Sluggish sales volumes of televisions, computers, smartphones and other products, caused by the slowdown in the Chinese economy, higher interest rates in Europe and the United States, and other factors, have depressed demand across the display market. As a result, orders for optical surface protection film for these applications declined substantially, and revenue from other adhesive-coated products fell.」
The slowdown in the Chinese economy affected actual results through sluggish device unit sales, lower demand for displays and a sharp decline in orders for optical surface-protection film. - FY2023RestatedAnnual report
「The company is an overseas operation whose primary market is China, and it faces the risk of becoming involved in various problems arising from political issues between Japan and China, changes in local social and economic conditions, differences in employment conditions and tax systems, and the tightening of various laws and regulations.」
Even after the sale of 長鼎電子材料（蘇州）, the report continues to identify political, social, economic, employment, tax and regulatory risks in China relating to 燦櫻（上海）商貿有限公司. - FY2023-Q3WorsenedAnnual report
「Sales of smartphones, tablets and other devices remained sluggish amid an uncertain global outlook, including the slowdown in the Chinese economy. As LCD-panel manufacturers made substantial production cuts, orders for optical surface-protection film for these applications declined sharply.」
The slowdown in the Chinese economy affected actual results through sluggish device sales, substantial production cuts by LCD-panel manufacturers and a sharp decline in orders for optical surface-protection film. - FY2023-Q2WorsenedAnnual report
「The prolonged production adjustments for LCD panels that became excess inventory amid supply-chain stagnation and disruption caused by the lockdown in Shanghai, China, had a significant impact, with orders in the Functional Materials segment falling sharply and revenue declining.」
The supply-chain disruption caused by the Shanghai lockdown and excess LCD-panel inventories persisted, materialising in prolonged LCD-panel production adjustments and a sharp decline in orders for Functional Materials. The impact of social and economic risks surrounding the China business is intensifying. - FY2023-Q1WorsenedAnnual report
「Production adjustments for LCD panels that became excess inventory amid supply-chain stagnation and disruption caused by the lockdown in Shanghai, China, reduced orders in the Functional Materials segment and resulted in lower revenue.」
Supply-chain stagnation and disruption caused by the lockdown in Shanghai, China, led to excess LCD-panel inventories and production adjustments, which materialised as lower orders and revenue in Functional Materials. The impact of social and economic risks surrounding the China business intensified. - FY2022RestatedAnnual report
「The company is an overseas operation whose primary market is China, and it faces the risk of becoming involved in various problems arising from political issues between Japan and China, changes in local social and economic conditions, employment conditions, tax systems and differences in various legal and regulatory requirements.」
Even after the sale of 長鼎電子材料（蘇州）, the report continues to identify political, social, economic, employment, tax and regulatory risks in China relating to the consolidated subsidiary 燦櫻（上海）商貿有限公司. - FY2021WorsenedAnnual report
「Meanwhile, orders for optical surface-protection film were weak due to the effects of the global economic downturn caused by the spread of COVID-19 and worsening US-China relations, and consolidated net sales increased only slightly year on year.」
For optical surface-protection film, including the China-related business, the deterioration in US-China relations affected actual results through weak orders. - FY2021-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the global economy was recovering from the sharp deterioration caused by the worldwide COVID-19 pandemic, but economic activity remained sluggish as the increase in new infections continued unabated.」
The overseas economies, including China, were recovering from a sharp deterioration, but the spread of the infection continued and economic activity remained sluggish, indicating continuing uncertainty in the external environment. - FY2021-Q1WorsenedAnnual report
「Although these measures were lifted or eased after a certain period, the spread of the infection continued unabated. With the simultaneous escalation of tensions between the US and China, the future economic situation is unpredictable.」
The external environment surrounding the China-related business is described as making the future economic situation difficult to predict due to escalating tensions between the US and China and the continuing spread of the infection. - FY2020RestatedAnnual report
「Both companies are overseas sites whose main areas of activity are the Chinese market, and they face the risk of becoming involved in various problems arising from political issues between Japan and China, changes in local social and economic conditions, and differences in employment conditions, taxation systems and various legal regulations.」
The report continues to identify political, social, economic, employment, tax and regulatory risks relating to the operations in China. - FY2020-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, the outlook for the global economy remained uncertain amid concerns about the effects on economic activity of various issues, including US-China trade friction, the slowdown in the Chinese economy and the UK's withdrawal from the EU.」
Uncertainty about the outlook due to US-China trade friction and the slowdown in the Chinese economy continues. - FY2020-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the economic outlook remained uncertain due to the effects of US-China trade friction and the slowdown in the Chinese economy, among other factors.」
Uncertainty about the outlook due to US-China trade friction and the slowdown in the Chinese economy continues. The slowdown in the Chinese economy is described as an actual economic condition. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, the US economy remained resilient, but the global economic outlook continued to be uncertain as US-China trade friction intensified and the Chinese economy slowed.」
The slowdown associated with US-China trade friction is explicitly identified for the Chinese economy, making the economic uncertainty noted through the previous period ongoing and more concrete. - FY2019RestatedAnnual report
「Both companies are overseas sites whose main areas of activity are the Chinese market, and they face the risk of becoming involved in various problems arising from political issues between Japan and China, changes in local social and economic conditions, and differences in employment conditions, taxation systems and various legal regulations.」
The report continues to identify political, social, economic, employment, tax and regulatory risks relating to the operations in China. - FY2018-Q2Slower investment alongside a resilient economyAnnual report
「In China, government monetary tightening slowed the growth of infrastructure and property-related investment, but consumer spending remained firm and the economy continued to hold up.」
In China, monetary tightening slowed investment growth, while consumer spending remained firm and the economy was resilient, with both risk factors and supporting factors identified. - FY2018-Q1MitigatedAnnual report
「During the first quarter of the current consolidated cumulative period, the US economy remained on a recovery track, supported by expanding corporate earnings and favourable employment conditions. In China, signs of an economic recovery were also seen, supported by government infrastructure and property-related investment.」
The report describes a recovery in the Chinese economy supported by government infrastructure and property-related investment, partly easing the concerns about an economic slowdown noted through the previous period. It does not mention the resolution of political, regulatory or structural risks. - FY2017-Q3MitigatedAnnual report
「Meanwhile, in China, the excess debt and excess capacity problems remain unresolved, but the slowdown in economic activity paused as automobile and housing sales expanded.」
The excess debt and excess capacity problems in China are continuing, while the slowdown in economic activity has paused as automobile and housing sales have expanded. - FY2017-Q2RestatedAnnual report
「Although increased investment by the government and state-owned enterprises was seen in China, the economy continued to slow as excessive debt and excess capacity in the private sector weighed on it, leaving the global economy in an unstable condition.」
Excessive debt and excess capacity in China's private sector, along with the continuing economic slowdown, remain cited. - FY2017-Q1WorsenedAnnual report
「In China, the economy remains on a slowing trend as a result of restrained private-sector investment, and economic uncertainty remains unresolved.」
China's economic conditions are described more specifically, with the slowing trend resulting from restrained investment and the continuing uncertainty highlighted. - FY2016First statedAnnual report
「Both companies are overseas sites whose main areas of activity are the Chinese market, and they face the risk of becoming involved in various problems arising from political issues between Japan and China, changes in local social and economic conditions, and differences in employment conditions, taxation systems and various legal regulations.」
The disclosure identifies political issues, local conditions, employment, taxation and differences in laws and regulations as risks for the manufacturing and sales sites in China.