Risk of an economic slowdown in China and emerging markets
First written in FY2016. 12 of 33 entries say "Worsened", first in FY2019-Q2. Latest entry: FY2026.
Bando Chemical Industries moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
14 other companies' latest entry also says "Other".
- FY2026China's stagnation alongside Asia's recoveryAnnual report
「During the fiscal year under review, the global economy remained subject to uncertainty surrounding trade and tariff policies and continued geopolitical tensions. Although domestic demand remained sluggish in China, personal consumption remained resilient in the US, where production and investment expanded, particularly in AI-related fields. The economies of Europe and Asia also showed signs of recovery, and the global economy overall remained on a moderate recovery track.」
It states that domestic demand remained sluggish in China, while Europe and Asia showed signs of recovery, indicating diverging economic trends by region. - FY2025WorsenedAnnual report
「In the automotive sector, a major market for the Group, vehicle production by Japanese automakers generally remained below the previous fiscal year's level, amid the progress of electrification in the Chinese market and stagnation in the Southeast Asian automotive market.」
Vehicle production by Japanese automakers fell below the previous fiscal year's level against the backdrop of accelerating electrification in the Chinese market and stagnation in the Southeast Asian automotive market. - FY2024-Q3China and Europe slow while Asia remains firmAnnual report
「During the third-quarter nine-month period under review, both domestic and external demand remained sluggish in China and the economic slowdown continued. In Europe, the economy also slowed amid the slowdown in overseas economies and the fading of inbound demand. In Asia, meanwhile, economic activity remained firm, supported by the recovery in inbound demand and domestic-demand-led economic growth.」
It states that sluggish domestic and external demand and the economic slowdown continued in China, while a slowdown was also recorded in Europe. Asia, by contrast, was described as firm, supported by the recovery in inbound demand and domestic-demand-led growth. - FY2024-Q2RestatedAnnual report
「During the second-quarter nine-month period under review, both domestic and external demand remained sluggish in China and the economy continued to slow. In Asia, the slowdown continued, particularly in countries highly dependent on external demand, due to the slow recovery in overseas demand.」
In China, sluggish domestic and external demand and the economic slowdown continued, while the economic slowdown also persisted in Asia against the backdrop of a slow recovery in overseas demand. - FY2024-Q1WorsenedAnnual report
「During the first-quarter nine-month period under review, demand in China, other than services consumption, was generally weak and the economy slowed. In Asia, the economy also generally slowed, affected by declining exports resulting from the slowdown in overseas economies and other factors.」
It describes China's economic slowdown due to weak demand and Asia's economic slowdown due to the slowdown in overseas economies and declining exports. - FY2023-Q3WorsenedAnnual report
「In China, both domestic and external demand stagnated as restrictions on activity were tightened, causing the economy to deteriorate. In Asia, the pace of economic recovery slowed under the impact of the global economic slowdown and rising prices and interest rates.」
In China, domestic and external demand stagnated as restrictions on activity were tightened, while the pace of recovery in Asia slowed against the backdrop of the global economic slowdown and rising prices and interest rates. - FY2023-Q2WorsenedAnnual report
「In China, restrictions on activity were imposed widely in September, temporarily causing the economy to weaken. In Asia, the pace of economic recovery also slowed against the backdrop of a slowdown in overseas economies and other factors.」
China's economy temporarily weakened due to the widespread imposition of restrictions on activity, while the pace of recovery in Asia slowed against the backdrop of a slowdown in overseas economies. - FY2023-Q1MitigatedAnnual report
「In China, the economy emerged from its worst phase as many cities eased restrictions on activity from May.」
It states that China's economy emerged from its worst phase as restrictions on activity were eased, indicating some improvement from the economic stagnation at the end of the previous fiscal year. - FY2022WorsenedAnnual report
「Meanwhile, China's economy stagnated as restrictions on activity were tightened and personal consumption failed to gain momentum.」
Compared with the previous description of an economy on a recovery track, the description changed to indicate that China's economy stagnated because tighter restrictions on activity held back personal consumption. - FY2022-Q3MitigatedAnnual report
「In China, the economy remained on a recovery track as external demand remained strong and personal consumption remained resilient. In Japan and Asia, signs of a recovery also emerged against the backdrop of a recovery in personal consumption following the easing of restrictions on activity.」
China remained on a recovery track, supported by external demand and personal consumption, while Japan and Asia also showed signs of recovery following the easing of restrictions on activity. - FY2022-Q2WorsenedAnnual report
「In China, the pace of economic recovery slowed recently amid tighter restrictions on activity to contain infections and government measures to restrain investment. In Asia, the economy deteriorated substantially as restrictions on economic activity were tightened against the backdrop of stagnating vaccination rates.」
It states that China's economic recovery slowed and that the Asian economy deteriorated substantially following tighter restrictions on economic activity. Compared with the previous quarter's description of a continuing recovery in China and a slowdown in parts of Asia, the description places greater emphasis on economic deceleration. - FY2022-Q1MitigatedAnnual report
「In China, the economic recovery continued as personal consumption expanded steadily and exports remained on an expansionary trend. In some parts of Asia, however, the pace of economic recovery slowed as the resurgence of infections delayed the lifting of restrictions on activity.」
It states that China's economic recovery continued, while restrictions on activity resulting from a resurgence of infections slowed the recovery in some parts of Asia. - FY2021MitigatedAnnual report
「In the automotive sector, a major market for the Group, vehicle production in China remained above the previous fiscal year's level. In other countries, however, the spread of the novel coronavirus had a substantial impact, with countries imposing restrictions on activity, including partial lockdowns, and vehicle production generally remaining below the previous fiscal year's level.」
China's vehicle production recovered to above the previous fiscal year's level, while production in other regions continued to fall below that level due to the spread of the virus, with risk mitigation and residual risks diverging by region. - FY2021-Q3RestatedAnnual report
「In the automotive sector, a major market for the Group, vehicle production in China remained above the previous fiscal year's level, partly due to the effects of government economic stimulus measures. In other regions, production was recovering but generally remained below the previous fiscal year's level.」
China's vehicle production continued to exceed the previous fiscal year's level due to the effects of economic stimulus measures, while production in other regions was recovering but remained below the previous fiscal year's level. - FY2021-Q2MitigatedAnnual report
「During the second-quarter nine-month period under review, China's economic recovery continued as the government introduced investment-promotion and consumption-stimulus measures and exports turned upward as countries resumed economic activity. In Asia, the economy continued on a downward trend, heavily affected by the spread of the novel coronavirus.」
China's economic recovery continued against the backdrop of government investment and consumption stimulus measures, while the economic slowdown caused by the spread of the virus continued in Asia. - FY2021-Q1WorsenedAnnual report
「In the automotive sector, a major market for the Group, vehicle production in China remained above the previous fiscal year's level as government policies, including purchase subsidies, boosted demand. In other regions, however, production remained substantially below the previous fiscal year's level across the board, affected by declining demand resulting from the spread of the novel coronavirus.」
China's vehicle production exceeded the previous fiscal year's level with policy support, while production volumes in other regions fell substantially below the previous fiscal year's level across the board due to declining demand resulting from the spread of the virus. - FY2020WorsenedAnnual report
「In the automotive sector, a major market for the Group, vehicle production in most countries remained below the previous fiscal year's level, amid uncertainty about the outlook for the economy and a downward trend resulting from prolonged US-China trade friction, as well as the spreading of the novel coronavirus, which began to affect both demand and supply.」
It states that, in addition to the economic slowdown in China, Asia and elsewhere, US-China trade friction and the spread of the novel coronavirus affected automotive demand and supply, causing production volumes in most countries to fall below the previous fiscal year's level. - FY2020-Q3RestatedAnnual report
「During the third-quarter nine-month period under review, favorable employment and income conditions continued to support the US economy, while signs emerged that China's economy had bottomed out, supported by policy measures. Meanwhile, the Asian economy generally remained on a downward trend.」
It states that signs of a bottoming out were seen in China's economy, while the downward trend continued across Asia as a whole. - FY2020-Q2RestatedAnnual report
「Meanwhile, the economies of China and Asia continued to slow due to sluggish external demand and other factors. Europe's recovery stalled, while Japan also continued to show signs of stagnation as the global economy generally lacked momentum.」
It reconfirms that the economic slowdown in China and Asia continued. Vehicle production also generally fell below the previous fiscal year's level in Europe, China and Asia. - FY2020-Q1WorsenedAnnual report
「During the first-quarter nine-month period under review, the global economy continued to recover autonomously in the US, led by the private sector. Meanwhile, the economies of Europe, China and Asia continued to slow due to sluggish external demand and other factors. In Japan, although domestic demand remained firm, external demand weakened and the economy showed signs of stagnation.」
It states that the economic slowdown in Europe, China and Asia continued, consistent with the description at the end of the previous fiscal year. In China, vehicle production also fell below the previous fiscal year's level due to the economic slowdown and prolonged US-China trade friction. - FY2019WorsenedAnnual report
「Meanwhile, the European economy slowed due to the slowdown in overseas economies and heightened political uncertainty, while China's economy slowed due in part to the impact of US-China trade friction. The Asian economy also slowed, particularly in exports, along with slower growth in the Chinese economy.」
It states that US-China trade friction was added as a factor behind China's economic slowdown, while the slowdown and weaker exports spread to Europe and Asia. - FY2019-Q3WorsenedAnnual report
「Meanwhile, the economies of Europe and China each slowed, due to a decline in external demand in Europe and, among other factors, the impact of US-China trade friction in China. In Asia, there were also signs that the pace of economic expansion was slowing, particularly in exports.」
It describes the economic slowdowns in Europe and China, the impact of US-China trade friction and the slower pace of economic expansion in Asia, indicating that the factors behind the slowdown had become more specific than in the previous quarter. - FY2019-Q2WorsenedAnnual report
「Meanwhile, signs of an economic slowdown were also seen in China,」
Compared with the previous quarter's description of the economies of China and Asia as generally firm, the description changed to indicate signs of an economic slowdown in China. - FY2019-Q1RestatedAnnual report
「The economies of Asia and China generally remained firm, while Japan continued on a moderate recovery track.」
It describes economic conditions in China and Asia as generally firm during the quarter under review, compared with concerns about an economic slowdown described in the previous fiscal year. - FY2018MitigatedAnnual report
「During the fiscal year under review, the US economy remained firm and Europe continued to recover moderately. In Asia, exports drove growth against the backdrop of a global economic recovery, while domestic and external demand in China remained firm, and Japan also continued on a moderate recovery track.」
For Asia, including China, the description changed from the previous references to economic slowdown and stagnation to one stating that domestic and external demand were firm and Asia as a whole was on a recovery track. - FY2018-Q3MaterialisedAnnual report
「The Asian economy generally remained firm, while China slowed moderately and Japan continued on a moderate recovery track.」
It describes the business environment in the third quarter under review, with China's economic slowdown continuing while Asia as a whole remained firm. - FY2018-Q2MaterialisedAnnual report
「The Asian economy generally remained firm, while China's economy remained flat at a relatively high level,」
It states that Asia was generally firm, while China's economy remained flat at a relatively high level. - FY2018-Q1MaterialisedAnnual report
「In Asia, the economy generally remained on a recovery track, while in China the long-term downward trend remained unchanged,」
It states that China's long-term economic slowdown continued during the quarter under review. - FY2017MaterialisedAnnual report
「In China, the long-term downward trend continued. In Asia, the effects of subdued activity following the death of Thailand's king and the abolition of high-denomination banknotes in India were limited, but conditions remained generally stagnant.」
It states that China's long-term economic slowdown and stagnant conditions in Asia continued as the business environment throughout the fiscal year. - FY2017-Q3MaterialisedAnnual report
「In China, the long-term downward trend remained unchanged. In the ASEAN region, conditions remained generally stagnant amid issues including subdued activity following the death of Thailand's king and the abolition of high-denomination banknotes in India.」
It states that China's long-term economic slowdown and the stagnant conditions in the ASEAN region, including circumstances in Thailand and India, have continued. - FY2017-Q2MaterialisedAnnual report
「In China, the downward trend remained unchanged. In the ASEAN region, although some countries, including Thailand and Vietnam, showed signs of improvement, conditions remained generally lacking in strength.」
It states that the economic slowdown in China continued and that conditions in the ASEAN region also remained generally lacking in strength during the second quarter under review. - FY2017-Q1MaterialisedAnnual report
「In China, the economy continued to slow moderately, while the ASEAN region also remained generally lacking in strength.」
It describes as actual conditions the continued slowdown in China and the weak performance of ASEAN in relation to the economic slowdown in China and emerging regions identified as concerns in the previous fiscal year. - FY2016First statedAnnual report
「Overseas, there are concerns that the economic slowdown in China, which faces problems of excess production capacity and excessive debt, and the slowdown in emerging markets caused by weak resource prices will spread even to the US and Europe, where personal consumption is expanding steadily, causing growth to slow further.」
It identifies China's excess production capacity and excessive debt, and weak resource prices in emerging markets, as factors behind the economic slowdown.