Uncertainty over the outlook amid U.S. protectionist trade policies and U.S.-China trade friction
First written in FY2019-Q3. 2 of 6 entries say "Reframed", first in FY2020-Q1. Latest entry: FY2025.
Shinnihonseiyaku 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 2022: 106 of 135 companies on the "Worse" side.
11 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「Uncertainty about the outlook is expected to continue due to unstable international conditions and the effects of US policy trends, among other factors.」
The description has been generalized from the specific references to US-China trade friction and US protectionist trade policy to uncertainty arising from US policy trends and international conditions as a whole. - FY2020-Q3WorsenedAnnual report
「During the first 3 quarters of the current consolidated cumulative period, Japan's economy was significantly affected by the COVID-19 outbreak, including stagnant economic activity and worsening personal consumption, while some effects of the decline following the rush in demand before the consumption tax rate increase remained. Globally, there was still no clear prospect of containing the spread of the infection, leaving the outlook for domestic and overseas economies uncertain.」
It describes domestic and overseas economic risks more strongly, with stagnant economic activity and worsening personal consumption due to COVID-19 continuing and no clear prospect of containing the global spread of the infection. - FY2020-Q2WorsenedAnnual report
「However, in addition to the slowdown caused by the effects of US-China trade friction and other factors, the global spread of COVID-19 raised concerns about its impact on employment conditions and personal consumption, leaving the outlook for domestic and overseas economies uncertain.」
In addition to the previous risks of US-China trade friction and other factors, the global spread of COVID-19 was added as a source of uncertainty in the external environment, with explicit concern over its impact on employment and personal consumption. - FY2020-Q1ReframedAnnual report
「Regarding overseas conditions, although some progress was made in US-China trade negotiations, concerns including disruption caused by the UK's withdrawal from the EU intensified, and uncertainty about the outlook continued.」
While noting some progress in US-China trade negotiations, it identifies disruption caused by the UK's withdrawal from the EU as a new concern and shifts the focus of external uncertainty. - FY2019SoftenedAnnual report
「Uncertainty about the outlook has increased due to the consumption tax increase and political instability in the economies of various foreign countries.」
The specific risks of US protectionist trade policy and US-China trade friction are no longer mentioned, with the description generalized to political instability across overseas economies. - FY2019-Q3First statedAnnual report
「Meanwhile, in the global economy, uncertainty about the outlook continued amid issues including US-China trade friction resulting from US protectionist trade policy.」
It is cited as uncertainty in the external environment, but states that no new business risks arose during the quarter.