Investment contraction due to China’s economic slowdown and trade friction
First written in FY2019-Q2. 13 of 22 entries say "Worsened", first in FY2021-Q1. Latest entry: 2026-08-05.
Fujimi moved to the "Worse" side of this theme in 2021, 2 years after the typical company in this theme (2019).
The whole theme swung hardest in 2022: 125 of 168 companies on the "Worse" side.
65 other companies' latest entry also says "Worsened".
- 2026-08-05WorsenedEarnings
「Regarding US tariff measures, the outlook remains uncertain, including indications that new tariff proposals may be introduced.」
The disclosure explicitly refers to indications of new tariff proposals regarding US tariff measures, providing greater detail on the uncertainty surrounding international affairs and the trade environment. - FY2026WorsenedAnnual report
「During the fiscal year, concerns over a global recession and geopolitical risks increased further, intensifying uncertainty in the global economy. Inflation remained high despite showing signs of slowing, while China’s economy lacked strength and the situation in the Middle East continued to deteriorate, with concerns over downside risks to the global economy persisting.」
The company newly identified weakness in the Chinese economy and deterioration in the Middle East situation, while continuing to cite the global economic downturn, geopolitical risks and downside concerns. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period, the business environment surrounding our Group remained marked by persistent concerns over geopolitical risks, leaving continued uncertainty in the global economy. Tensions surrounding the Russia-Ukraine situation and the Middle East situation persisted, while China's economic growth slowed moderately. In addition, the international situation remained unstable, with the United States and other countries repeatedly negotiating and revising measures concerning US tariffs.」
In addition to the existing risks related to geopolitics, the Russia-Ukraine situation, the Middle East situation and the slowdown in the Chinese economy, negotiations and revisions with various countries concerning US tariff measures were newly identified, making the instability of the international situation more concrete. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, the business environment surrounding our Group remained marked by persistent concerns over a global economic downturn and geopolitical risks, leaving continued uncertainty in the global economy. Although inflation has been trending downward, tensions surrounding the Russia-Ukraine situation and the Middle East situation have persisted, China's economic growth has slowed moderately, and concerns over downside risks to the global economy have continued.」
The company continues to identify the global economic downturn, geopolitical risks, the Russia-Ukraine situation, the Middle East situation and the slowdown in the Chinese economy as external environmental risks. - FY2024WorsenedAnnual report
「During the fiscal year, concerns over a global recession and geopolitical risks increased further, intensifying uncertainty in the global economy. Inflation remained high despite showing signs of slowing, while China’s economy lacked strength and the situation in the Middle East continued to deteriorate, with concerns over downside risks to the global economy persisting.」
The filing newly identifies weakness in China’s economy and deterioration in the situation in the Middle East, while the global recession, geopolitical risks and downside concerns continue. - FY2024-Q3WorsenedAnnual report
「During the cumulative period of the third quarter of the fiscal year, concerns over a global recession and geopolitical risks increased further, intensifying uncertainty in the global economy. Inflation remained high despite showing signs of slowing, while growing economic weakness in China and escalating tensions in the Middle East added to downside risks to the global economy.」
The filing newly identifies escalating tensions in the Middle East in addition to a global recession, geopolitical risks, inflation and China’s economic slowdown, explaining that downside risks to the global economy increased. - FY2024-Q2WorsenedAnnual report
「During the cumulative period of the second quarter of the fiscal year, concerns over a global recession and geopolitical risks increased further, intensifying uncertainty in the global economy. Resource and energy prices turned upward again, while the inflation rate, which had been trending downward, showed signs of leveling off. In addition, China’s economy remained weak following the deterioration of its property market, increasing downside risks to the global economy.」
The filing identifies concerns over a global recession, geopolitical risks, renewed increases in resource and energy prices, and economic weakness in China triggered by deterioration in its property market, with downside risks to the global economy becoming more pronounced. - FY2024-Q1WorsenedAnnual report
「During the cumulative period of the first quarter of the fiscal year, concerns over a global recession increased further, and uncertainty in the global economy intensified. Resource and energy prices remained high against a backdrop of worsening international conditions, while inflation remained elevated despite signs of slowing, and additional interest rate hikes were implemented in the United States and Europe.」
The filing explains that, in addition to the soaring resource and energy prices and interest rate hikes in the United States and Europe reported through the previous quarter, concerns over a global recession and uncertainty increased further. - FY2023-Q3RestatedAnnual report
「During the cumulative period of the third quarter of the fiscal year, the impact of COVID-19 on the global economy continued, while inflation caused by soaring resource and energy prices against a backdrop of worsening international conditions also persisted. Concerns over a global recession increased as the United States and Europe continued to implement substantial interest rate hikes, further increasing uncertainty in the global economy.」
The filing continues to identify the prolonged impact of COVID-19, soaring resource and energy prices, substantial interest rate hikes in the United States and Europe, and global recession concerns as factors contributing to uncertainty in the global economy. - FY2023-Q2WorsenedAnnual report
「During the cumulative period of the second quarter of the fiscal year, the impact of COVID-19 on the global economy continued, while inflation caused by soaring resource and energy prices against a backdrop of worsening international conditions also persisted. Concerns over a global recession increased as the United States continued to implement substantial interest rate hikes and Europe shifted away from its zero-interest-rate policy, further increasing uncertainty in the global economy.」
The filing identifies the prolonged impact of COVID-19, soaring resource and energy prices, substantial interest rate hikes in the United States, the shift in Europe’s monetary policy and recession concerns, further increasing uncertainty in the global economy. - FY2023-Q1WorsenedAnnual report
「During the cumulative period of the first quarter of the fiscal year, the impact of COVID-19 on the global economy continued, while upward pressure on prices intensified due to soaring resource and energy prices against a backdrop of worsening international conditions, and global logistics disruptions continued. Concerns over a recession increased in the United States due to substantial interest rate hikes and in Europe due to the situation in Ukraine, increasing uncertainty in the global economy.」
The filing states that, in addition to the existing confrontation between the United States and China and soaring resource and energy prices, global logistics disruptions, substantial interest rate hikes in the United States and recession concerns in Europe were identified, further increasing uncertainty in the global economy. - FY2022-Q3WorsenedAnnual report
「During the cumulative period of the third quarter of the fiscal year, infections from COVID-19 variants spread despite signs of containment as vaccinations progressed, while tensions rose not only between the United States and China but also over the situation in Ukraine. A global container shortage and soaring resource and energy prices showed no signs of abating, further increasing uncertainty in the global economy.」
The filing states that, in addition to the existing confrontation between the United States and China and soaring resource and energy prices, heightened tensions over the situation in Ukraine and a global container shortage were identified, further increasing uncertainty in the global economy. - FY2022-Q2WorsenedAnnual report
「During the cumulative period of the second quarter of the fiscal year, the business environment surrounding the Group saw movement toward the normalization of economic activity in regions where COVID-19 vaccinations were progressing, but there were concerns over a renewed spread of infections due to variants. In addition, soaring resource and energy prices and continued tensions between the United States and China further increased uncertainty in the global economy.」
The filing states that, in addition to the existing concerns over confrontation between the United States and China and trade friction, soaring resource and energy prices were identified, further increasing uncertainty in the global economy. - FY2022-Q1WorsenedAnnual report
「During the cumulative period of the first quarter of the fiscal year, the business environment surrounding the Group saw movement toward the normalization of economic activity in regions where COVID-19 vaccinations were progressing, but there were concerns over a renewed spread of infections due to variants. Amid continued tensions between the United States and China and additional geopolitical risks, uncertainty in the global economy increased further.」
The filing states that, in addition to the existing concern over confrontation between the United States and China due to trade friction, issues involving Hong Kong and other factors, additional geopolitical risks were identified, further increasing uncertainty in the global economy. - FY2021-Q3RestatedAnnual report
「Amid rising concern over confrontation between the United States and China due to trade friction, issues involving Hong Kong and other factors, uncertainty in the global economy increased further.」
The filing continues to identify concern over confrontation between the United States and China due to trade friction, issues involving Hong Kong and other factors, as well as uncertainty in the global economy, as risks in the business environment. - FY2021-Q2RestatedAnnual report
「Amid rising concern over confrontation between the United States and China due to trade friction, issues involving Hong Kong and other factors, uncertainty in the global economy increased further.」
The filing continues to identify concern over confrontation between the United States and China due to trade friction, issues involving Hong Kong and other factors, as well as uncertainty in the global economy, as risks in the business environment. - FY2021-Q1WorsenedAnnual report
「Amid rising concern over confrontation between the United States and China due to trade friction, issues involving Hong Kong and other factors, uncertainty in the global economy increased further.」
The filing states that, in addition to the existing trend toward an economic slowdown in China due to trade friction, concern over confrontation between the United States and China rose due to issues involving Hong Kong and other factors, further increasing uncertainty in the global economy. - FY2020-Q3RestatedAnnual report
「In Japan and Europe, meanwhile, economic stagnation continued, while China’s economy was on a slowing trend due to the impact of trade friction.」
The filing continues to identify China’s economic slowdown due to trade friction as a risk in the business environment. - FY2020-Q2RestatedAnnual report
「In Japan and Europe, meanwhile, the economic stall became more pronounced, while China’s economy was on a slowing trend due to the impact of trade friction.」
The filing continues to identify China’s economic slowdown due to trade friction as a risk in the business environment. - FY2020-Q1RestatedAnnual report
「In Japan and Europe, meanwhile, economic activity appeared to stall, while China’s economy was on a slowing trend due to the impact of trade friction.」
The filing continues to identify China’s economic slowdown due to trade friction as a risk in the business environment. - FY2019-Q3RestatedAnnual report
「In China, meanwhile, the economy was on a slowing trend, partly due to reduced investment resulting from deleveraging policies and the impact of trade friction.」
The filing continues to identify reduced investment and the economic slowdown in China resulting from deleveraging policies and trade friction as risks in the business environment. - FY2019-Q2First statedAnnual report
「In China, meanwhile, signs of an economic slowdown emerged, partly due to reduced investment resulting from deleveraging policies and the impact of trade friction.」
The filing identifies reduced investment and signs of an economic slowdown in China resulting from deleveraging policies and trade friction as new external risks in the business environment.