Risk of an economic downturn caused by global trade tensions
First written in FY2019-Q1. 6 of 9 entries say "Restated". Latest entry: FY2026.
Daito Pharmaceutical moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
76 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Meanwhile, although a ceasefire was initially reached in the conflict that began in the Middle East earlier this year, the adverse economic effects of supply shocks involving crude oil, naphtha and other products arising from the conflict have begun to emerge, and the outlook remains difficult to predict.」
The company describes the emergence of supply shocks involving crude oil, naphtha and other products arising from the conflict in the Middle East, and their adverse economic effects, in addition to the existing risks from trade policy and tariffs. - FY2026-H1WorsenedAnnual report
「Overseas economies are growing moderately overall, although some weakness has emerged as a result of the trade policies of individual countries and other factors. Corporate earnings remain at a high level overall, despite the downward pressure from tariffs in the manufacturing sector.」
The company specifically describes the impact of trade policies in individual countries and the downward pressure of tariffs on corporate earnings in the manufacturing sector as part of the economic environment for the interim period. - FY2021-Q1RestatedAnnual report
「During the three months ended the first quarter of the current fiscal year, Japan’s economy was in a difficult situation as the spread of COVID-19 caused social and economic activity to stagnate. The global economy was also uncertain due to the impact of the spread of COVID-19 and the prolonged trade tensions between the United States and China.」
The company continues to describe the uncertainty in the global economy caused by the prolonged trade tensions between the United States and China. The impact of the spread of COVID-19 is recorded in a separate thread. - FY2020-Q3RestatedAnnual report
「During the nine months ended the third quarter of the current fiscal year, Japan’s economy was on a moderate recovery track, supported by improvements in the employment and income environment, although exports were affected by trade tensions between the United States and China. In addition, the outlook remained uncertain amid concerns over the impact of the spread of the novel coronavirus on the Japanese and global economies.」
The company continues to describe the impact of trade tensions between the United States and China on exports and the uncertainty of the outlook. The novel coronavirus is recorded in a separate thread. - FY2020-Q2RestatedAnnual report
「During the six months ended the second quarter of the current fiscal year, Japan’s economy was on a moderate recovery track, with improvements in the employment and income environment and steady corporate earnings, although the outlook remained uncertain, with exports affected by trade tensions between the United States and China.」
The company continues to describe the impact of trade tensions between the United States and China on exports and the uncertainty of the outlook. - FY2020-Q1RestatedAnnual report
「During the first three months of the current fiscal year, Japan’s economy was on a moderate recovery track, with improvements in the employment and income environment and steady corporate earnings, although the outlook remained uncertain due to trade tensions between the United States and China and instability in overseas political conditions.」
The company continues to describe the uncertain outlook resulting from trade tensions between the United States and China and instability in overseas political conditions. - FY2019-Q3RestatedAnnual report
「During the nine months ended the third quarter of the current fiscal year, Japan’s economy remained on a recovery track, supported by improvements in the employment and income environment, although concerns over a slowdown in the global economy due to trade tensions between the United States and China persisted, leaving the outlook uncertain.」
The company continues to describe concerns over a slowdown in the global economy due to trade tensions between the United States and China and the uncertainty of the outlook. - FY2019-Q2RestatedAnnual report
「Meanwhile, concerns over a slowdown in the global economy have emerged as a result of trade tensions between the United States and China, and the outlook remains uncertain.」
The company continues to describe concerns over the economic outlook arising from trade tensions between the United States and China as concerns over a slowdown in the global economy. - FY2019-Q1First statedAnnual report
「During the first three months of the current fiscal year, Japan’s economy remained on a moderate recovery track, supported by a recovery in corporate earnings and an improving employment situation, although the impact of global trade tensions on the economy has become a concern.」
The impact of global trade tensions on the economy is described as a new concern in the economic environment for the quarter.