Risk of Uncertainty Over the Outlook Due to U.S. Trade Policy and Asian Economic Trends
First written in FY2019-Q1. 11 of 26 entries say "Worsened", first in FY2019-Q3. Latest entry: FY2026.
Tacmina moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 25 of 32 companies on the "Worse" side.
18 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Although Japan's domestic economy is expected to recover, supported by robust domestic demand, concerns include geopolitical risks, particularly the escalating situation in Iran, another surge in energy prices, and the impact of U.S. trade policy developments on the global economy. Accordingly, the outlook is judged likely to remain uncertain.」
In addition to the existing concerns over U.S. trade policy and other factors, the escalating situation in Iran and another surge in energy prices were explicitly identified as new sources of uncertainty. - 2026-05-11WorsenedEarnings
「At the same time, the economic outlook remains uncertain, with risks of higher resource prices caused by rising tensions in the Middle East, including the situation in Iran, and the impact of U.S. trade policy weighing on the economy.」
In addition to the previously noted uncertainty related to U.S. trade policy and other factors, the company explicitly cites the situation in Iran, rising tensions in the Middle East and higher resource prices. - FY2026-H1RestatedAnnual report
「On the other hand, the outlook remains uncertain due to downside risks to overseas economies, including the effects of rising prices, volatility in financial and capital markets, and U.S. trade policy.」
The view that rising prices, volatility in financial and capital markets, and U.S. trade policy would continue to pose downside risks to overseas economies was reaffirmed. - FY2025WorsenedAnnual report
「Although Japan's domestic economy is expected to remain on a moderate recovery trend, supported by robust inbound demand, concerns include downside risks to the global economy arising from U.S. policy developments and the impact of volatility in financial and capital markets, so the outlook is expected to remain uncertain.」
In addition to the existing concerns over trade friction and China's economy, downside risks to the global economy from U.S. policy developments and volatility in financial and capital markets were explicitly identified. - FY2025-H1China economic slowdown risk explicitly identifiedAnnual report
「On the other hand, soaring raw material prices continued, while concerns included inflation accompanying the yen's depreciation and the risk of a slowdown in China's economy, leaving the outlook uncertain.」
In addition to the existing uncertainty over the outlook, the risk of a slowdown in China's economy was explicitly identified. - FY2024-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy continued on a moderate recovery trend as the transition of COVID-19 to Class 5 disease further normalised social and economic activity. Meanwhile, uncertainty about the outlook continued, with downside risks to overseas economies arising from the prolonged situation in Ukraine and inflation, monetary tightening policies in various countries, and concerns about the outlook for the Chinese economy.」
Although the normalization of post-pandemic social and economic activity advanced further, concerns about the situation in Ukraine and rising prices were joined by newly identified concerns over monetary tightening by various countries and the outlook for China's economy, broadening the downside risks to overseas economies. - FY2024-Q2Post-pandemic economic normalization coexists with downside risksAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy continued on a moderate recovery trend as the normalization of social and economic activity progressed following COVID-19's reclassification to Category V. However, concerns about downside risks to the economy, including soaring raw material prices, sharp exchange-rate fluctuations and the prolonged situation in Ukraine, persisted, and the outlook remained uncertain.」
Although the normalization and recovery of social and economic activity progressed following COVID-19's reclassification to Category V, downside risks from soaring raw material prices, sharp exchange-rate fluctuations and the prolonged situation in Ukraine continued to coexist. - FY2024-Q1Economic recovery coexists with downside risksAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy showed signs of recovery in social and economic activity as COVID-19 restrictions were eased. However, concerns about downside risks to the economy, including soaring raw material prices, sharp exchange-rate fluctuations and the prolonged situation in Ukraine, persisted, and the outlook remained uncertain.」
Although the easing of activity restrictions brought signs of a recovery in social and economic activity, downside risks from soaring raw material prices, sharp exchange-rate fluctuations and the prolonged situation in Ukraine continued to coexist. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy showed signs of recovery in corporate capital investment and production activity as efforts progressed to balance social and economic activity following the lifting of restrictions related to COVID-19. Meanwhile, uncertainty about the outlook continued due to factors including soaring raw material prices associated with the prolonged situation between Russia and Ukraine and the impact of the yen's rapid depreciation.」
The recovery in economic activity after restrictions were lifted and uncertainty caused by soaring raw material prices and the yen's sharp depreciation continue to coexist. - FY2023-Q2Economic recovery coexists with raw material and yen depreciation risksAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy showed signs of recovery in corporate capital investment and production activity as efforts progressed to balance social and economic activity following the lifting of restrictions related to COVID-19. Meanwhile, uncertainty about the outlook continued due to factors including soaring raw material prices associated with the prolonged situation between Russia and Ukraine and the impact of the yen's rapid depreciation.」
Although capital investment and production activity showed signs of recovery after restrictions on activity were lifted, uncertainty continued due to the prolonged Russia-Ukraine conflict, soaring raw material prices and the impact of the yen's sharp depreciation. - FY2022WorsenedAnnual report
「During the fiscal year, Japan's economy began to show signs of normalization as vaccination progressed, even as the impact of COVID-19 persisted. However, the emergence of new variants and other factors have made it impossible to forecast when the pandemic will end. Overseas, economic activity resumed as vaccines became more widely available and showed signs of recovery, but concerns about a downturn in the global economy stemming from the situation in Ukraine and other factors persisted, leaving the outlook uncertain.」
In addition to the prolonged pandemic and new variants, concerns about a downturn in the global economy due to the situation in Ukraine and other factors were explicitly identified, broadening the sources of external-environment risk. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy began to show signs of normalization as vaccination rates rose, even as the impact of COVID-19 persisted. However, the emergence of new variants and other factors have made it impossible to forecast when the pandemic will end. Overseas, some countries and regions showed signs of recovery as economic activity resumed alongside vaccine rollouts, but the outlook remained uncertain as infections from new variants spread rapidly.」
Although vaccine rollouts have brought signs of normalization and recovery, the rapid spread of infections from new variants has made it impossible to forecast when the pandemic will end, and uncertainty over the outlook continues. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained in a difficult situation, with economic activity restricted by the spread of COVID-19. After the state of emergency was lifted, economic activity was gradually ramped up, but concerns about a resurgence of infections and the lack of visibility on when the pandemic would end meant that the outlook remained uncertain.」
Although economic activity was gradually reopening, concerns about a resurgence of infections and uncertainty over when the pandemic would end continued. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy showed signs of recovery while remaining affected by COVID-19, but remained in a difficult situation amid the reissuance of the state of emergency and the application of priority preventive measures. Overseas, economic activity also began to show signs of reopening as vaccination progressed, but concerns about a resurgence of infections, including the spread of new variants, persisted, and the outlook remained uncertain.」
Although economic activity showed signs of recovery and reopening, concerns about a resurgence of infections due to the state of emergency and new variants remained, and the outlook continued to be uncertain. - FY2021Recovery expectations coexist with uncertainty from new variantsAnnual report
「Although concerns about a resurgence of COVID-19 remain, the business environment surrounding our Group is expected to see continued signs of economic recovery, supported by the spread of vaccines and economic measures in various countries. …On the other hand, the emergence of new variants has made it impossible to forecast when the pandemic will end, and the outlook remains uncertain.」
Although expectations for an economic recovery supported by vaccine rollouts and economic measures were indicated, uncertainty over when the pandemic would end due to new variants was also noted, shifting the risk outlook to one in which recovery expectations coexist with uncertainty. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy gradually showed signs of recovery as economic activity was progressively ramped up after the state of emergency was lifted in May 2020, even as the impact of COVID-19 persisted. However, the resurgence of infections has recently intensified, and the outlook remains uncertain.」
Although economic activity showed signs of recovery after the state of emergency was lifted, the resurgence of infections intensified and the outlook remained uncertain. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained in a difficult situation, with economic activity restricted by the spread of COVID-19. After the state of emergency was lifted, economic activity was gradually ramped up, but concerns about a resurgence of infections and the lack of visibility on when the pandemic would end meant that the outlook remained uncertain.」
Economic activity restrictions caused by the spread of COVID-19 continued, and concerns about a resurgence of infections and uncertainty over when the pandemic would end remained even after the state of emergency was lifted. - FY2021-Q1MaterialisedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan’s economy remained in a severe condition as the spread of COVID-19 led to the declaration of a state of emergency in Japan and restrictions on economic activity. Although economic activity has gradually resumed since the declaration was lifted, concerns about a second wave of COVID-19 remain, and uncertainty about the outlook continues.」
In addition to the existing uncertainty surrounding the global economy, the spread of COVID-19, the declaration of a state of emergency and restrictions on economic activity actually occurred, while concerns about a second wave also emerged. - FY2020WorsenedAnnual report
「Although the effects of the global spread of COVID-19 have not been significant for the group for now, concerns about a further downturn in the domestic and overseas economies due to the global spread of the virus and its prolonged impact have increased uncertainty about the outlook for the business environment surrounding the group.」
In addition to the previous concerns about U.S.-China trade friction and a slowdown in the Chinese economy, concerns about a downturn in the domestic and overseas economies caused by the global spread and prolonged impact of COVID-19 have increased uncertainty. - FY2020-Q3RestatedAnnual report
「Overseas, uncertainty about the outlook has continued amid uncertainty in the global economy, including prolonged U.S.-China trade friction, concerns about a slowdown in the Chinese economy, and rising geopolitical risks.」
The company explains that uncertainty about the overseas outlook has continued against a backdrop of U.S.-China trade friction, concerns about a slowdown in the Chinese economy, and rising geopolitical risks. - FY2020-Q2RestatedAnnual report
「Overseas, uncertainty in the global economy, including prolonged U.S.-China trade friction, concerns about a slowdown in the Chinese economy, and the United Kingdom’s withdrawal from the EU, has contributed to continued uncertainty about the outlook.」
The company explains that uncertainty about the overseas outlook has continued against a backdrop of U.S.-China trade friction, concerns about a slowdown in the Chinese economy, and the United Kingdom’s withdrawal from the EU. - FY2020-Q1WorsenedAnnual report
「Overseas, uncertainty in the global economy, including prolonged U.S.-China trade friction, concerns about a slowdown in the Chinese economy, and rising geopolitical risks in the Middle East and on the Korean Peninsula, has contributed to continued uncertainty about the outlook.」
In addition to the previous concerns about U.S.-China trade friction, the company has identified concerns about a slowdown in the Chinese economy and rising geopolitical risks in the Middle East and on the Korean Peninsula, broadening the sources of overseas uncertainty. - FY2019WorsenedAnnual report
「Although the order environment in Japan remains firm for now, downside risks to the global economy, including the effects of U.S.-China trade friction and the issue of the United Kingdom’s withdrawal from the EU, are clouding the outlook for the Japanese economy, and uncertainty is expected to continue. Looking ahead, overseas capital investment by South Korean companies in the secondary battery industry, which had been active, is expected to pause.」
In addition to the previous concerns about U.S.-China trade friction and the Asian economy, the company has identified the United Kingdom’s withdrawal from the EU and downside risks to the global economy, and expects capital investment in South Korea’s secondary battery industry to pause. - FY2019-Q3WorsenedAnnual report
「Overseas, uncertainty about the outlook has persisted amid concerns about a slowdown in the global economy due to U.S.-China trade friction.」
The scope of the risk and its expected consequences have expanded from the previous concerns about U.S. trade policy and Asian economic trends to concerns about a global economic slowdown stemming from U.S.-China trade friction. - FY2019-Q2RestatedAnnual report
「Overseas, concerns about trade friction related to protectionism by the U.S. administration have contributed to continued uncertainty about the outlook.」
The company explains that trade friction related to protectionism by the U.S. administration and uncertainty about the overseas outlook have continued. - FY2019-Q1First statedAnnual report
「Overseas, uncertainty about U.S. trade policy and economic trends in Asia have contributed to continued uncertainty about the outlook.」
The company has identified concerns over U.S. trade policy and economic trends in Asia as factors contributing to an uncertain outlook for its overseas business for the first time.