Uncertainty over the outlook due to US-China trade tensions and protectionist trade policies
First written in FY2019-Q1. 8 of 15 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 108 of 134 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「During the fiscal year, the global economy was disrupted because the United States advocated an "America First" policy and aggressively pursued protectionist trade policies.」
The description has changed from the previous reference to the rise of protectionism and trade tensions to a description stating that the United States aggressively pursued protectionist trade policies, with the impact emerging as disruption to the global economy. - FY2026-H1MaterialisedAnnual report
「During the interim accounting period, the global economy was disrupted as the United States shifted to protectionist trade policies, causing disruptions to trade and investment in various countries.」
The previously cited risks from US-China trade tensions and protectionism are described as having had an actual impact in the form of the United States' shift to protectionist trade policies and disruptions to trade and investment. - FY2022-Q3RestatedAnnual report
「During the nine-month period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
It states that there have been no newly arising risks or significant changes to business and other risks, including US-China trade tensions and protectionist trade policies. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there was no emergence of new business or other risks, nor were there any material changes to the business or other risks described in the annual securities report for the preceding fiscal year.」
It states that there have been no newly arising risks or significant changes to business and other risks, including US-China trade tensions and protectionist trade policies. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter, there were no new business or other risks, nor any significant changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no newly arising risks or significant changes to existing business and other risks, including US-China trade tensions and protectionist trade policies. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there was no emergence of new business or other risks, nor were there any material changes to the business or other risks described in the annual securities report for the preceding fiscal year.」
It states that there have been no newly arising risks or significant changes to existing business and other risks, including US-China trade tensions and protectionist trade policies. - FY2021-Q1RestatedAnnual report
「During the six months ended [current first quarter], there was no emergence of new business or other risks, nor any material change in the business or other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no newly arising risks or significant changes to existing business and other risks. - FY2020DroppedAnnual report
「During the fiscal year, the global economy was affected by an outbreak of the novel coronavirus disease in Wuhan, Hubei Province, China, in November 2019, which rapidly spread to countries around the world.」
In this filing's description of the economic environment and risks, COVID-19 is identified as the main external environmental factor, replacing the previously cited US-China trade tensions and protectionist trade policies. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter, the global economy slowed in China due to US-China trade tensions and other factors.」
The company is reconfirming that the Chinese economy slowed due to US-China trade tensions and other factors. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, the global economy slowed in China due to US-China trade tensions and other factors.」
The company is reconfirming that the Chinese economy slowed due to US-China trade tensions. - FY2020-Q1WorsenedAnnual report
「During the cumulative first quarter, the global economy slowed in China due to US-China trade tensions and other factors.」
Regarding US-China trade tensions, the company explicitly added a slowdown in the Chinese economy to the previously described impacts on production and exports, describing a broader range of effects. - FY2019RestatedAnnual report
「The global economy remained firm, led by the United States, during the fiscal year, but the impact of US-China trade tensions reduced the production of high-tech products in China and exports of semiconductor manufacturing equipment and other products from Japan.」
The company states that the impact of US-China trade tensions emerged in actual economic activity in the form of lower high-tech product production in China and reduced exports of semiconductor manufacturing equipment and other products from Japan. - FY2019-Q3MaterialisedAnnual report
「The global economy remained firm, led by the United States, but the impact of US-China trade tensions caused a sharp decline in the production of high-tech products in China and a decrease in exports of semiconductor manufacturing equipment from Japan.」
The company states that the impact of US-China trade tensions emerged in actual economic activity in the form of a sharp decline in China's high-tech product production and lower exports of semiconductor manufacturing equipment from Japan. - FY2019-Q2WorsenedAnnual report
「During the cumulative second quarter, the global economy remained firm, led by the United States, but the risk of rising protectionism stemming from US-China trade tensions increased.」
Regarding the rise of protectionism stemming from US-China trade tensions, the wording has changed from the previous quarter's reference to uncertainty over the outlook to a statement that the risk had increased. - FY2019-Q1First statedAnnual report
「Protectionist trade policies arising from US-China trade tensions gained ground, making the outlook uncertain.」
The company identifies the rise of protectionist trade policies stemming from US-China trade tensions and the resulting uncertainty over the outlook as new business-environment risks.