Policy Uncertainty Under the New US Administration
First written in FY2017-Q2. 11 of 17 entries say "Restated". Latest entry: FY2026.
Kitagawa Seiki moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).
The whole theme swung hardest in 2018: 2 of 10 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Meanwhile, the global economy remained uncertain, amid concerns about the effects of surging raw material and energy prices associated with heightened tensions in the Middle East, slowing growth in China, and monetary policy trends in various countries.」
The description has been reorganized from uncertainty centered on U.S. tariff increases, as described in the first half of the fiscal year, to broader sources of uncertainty for the global economy, including the situation in the Middle East, China's economy, and monetary policies in various countries. - FY2026-H1WorsenedAnnual report
「Meanwhile, the global economy remained uncertain due to the effects of a pullback in rush demand following the United States' tariff increases, slowing growth in China, and unstable international conditions.」
In addition to the previous concerns about China's economic slowdown and international conditions, it specifies the United States' tariff increases and the pullback in rush demand as sources of uncertainty for the global economy. No direct impact on the Company's results is described. - FY2025-H1ReframedAnnual report
「Meanwhile, the global economy remained uncertain due to slowing growth in China, unstable international conditions, and concerns about a recession resulting from prolonged inflation in the United States.」
The previous description centered on uncertainty surrounding U.S. policies and the U.S.-China trade friction has been broadened to cover global economic risks, including slowing growth in China, unstable international conditions, and concerns about a recession resulting from prolonged inflation in the United States. - FY2021-Q1RestatedAnnual report
「During the three months ended the first quarter of the current fiscal year, Japan's economy remained uncertain due to the prolonged U.S.-China trade friction and the global spread of COVID-19.」
It continues to describe uncertainty arising from the prolonged U.S.-China trade friction and also lists the global spread of COVID-19 as a new source of uncertainty. - FY2020-Q3RestatedAnnual report
「During the nine months ended the third quarter of the current fiscal year, Japan's economy was on a moderate recovery trend in the first half, alongside improvements in corporate earnings and employment conditions. However, in addition to the prolonged U.S.-China trade friction, the spread of COVID-19 has come to affect the global economy more significantly than expected.」
It continues to identify the prolonged U.S.-China trade friction as a source of uncertainty for the global economy. The impact of COVID-19 is separately specified as a risk associated with epidemics and other factors. - FY2020-Q2RestatedAnnual report
「During the six months ended the second quarter of the current fiscal year, Japan's economy remained on a moderate recovery trend, supported by improvements in corporate earnings and employment conditions. However, the outlook remained uncertain due to downside risks, including the prolonged U.S.-China trade friction and the slowdown in China's economy.」
It continues to identify downside risks to the global economy arising from the prolonged U.S.-China trade friction and the slowdown in China's economy as sources of uncertainty for the outlook. - FY2020-Q1RestatedAnnual report
「During the three months ended the first quarter of the current fiscal year, Japan's economy remained on a moderate recovery trend, supported by improvements in corporate earnings and employment conditions. However, the outlook remained uncertain due to downside risks to the global economy arising from the U.S.-China trade friction and other factors.」
It continues to describe downside risks to the global economy and uncertainty about the outlook arising from the U.S.-China trade friction. - FY2019RestatedAnnual report
「The global economy remained uncertain, amid the prolonged U.S.-China trade friction and signs of a slowdown in emerging Asian economies, including China.」
It continues to identify the prolonged U.S.-China trade friction and signs of a slowdown in emerging Asian economies, including China, as sources of uncertainty for the global economy. - FY2019-Q3RestatedAnnual report
「During the nine months ended the third quarter of the current fiscal year, Japan's economy remained on a moderate recovery trend, supported by capital investment and improvements in employment and income conditions. Meanwhile, the global economy remained uncertain due to the U.S.-China trade friction and signs of a slowdown in emerging Asian economies, including China.」
It continues to identify the U.S.-China trade friction and signs of a slowdown in emerging Asian economies, including China, as sources of uncertainty for the outlook of the global economy. - FY2019-Q2WorsenedAnnual report
「During the six months ended the second quarter of the current fiscal year, Japan's economy remained on a moderate recovery trend, supported by improved corporate earnings and employment conditions. Meanwhile, the global economy remained uncertain due to downside risks, including the prolonged U.S.-China trade friction and the slowdown in China's economy.」
The previous source of uncertainty relating to protectionist trade policies in the United States and China has become more specific and prominent as downside risks from prolonged trade friction and a slowdown in China's economy. - FY2019-Q1RestatedAnnual report
「The outlook remained uncertain due to the effects of a succession of disasters in Japan and downside risks to the global economy arising from protectionist trade policies in the United States and China.」
It identifies domestic disasters and downside risks to the global economy arising from protectionist trade policies in the United States and China as sources of uncertainty for the outlook. - FY2018WorsenedAnnual report
「The economic outlook is expected to remain on a generally moderate recovery trend, but uncertainty is expected to remain high due to numerous concerns, including rising material and subcontracting costs, trade friction originating in the United States, and negotiations over the UK's withdrawal from the EU.」
References to policy uncertainty in the United States have become more specific and prominent as uncertainty about the outlook arising from trade friction originating in the United States. - FY2018-Q3RestatedAnnual report
「Although concerns remained, including the protectionist policies of the United States, the global economy remained generally firm, particularly in the United States and Europe.」
It continues to identify the protectionist policies of the United States as a concern for the global economy. - FY2018-Q1RestatedAnnual report
「Although the U.S. and European economies were on a recovery trend, the global economy remained uncertain due to geopolitical risks, including U.S. policy management and the issue of North Korea.」
It reiterates uncertainty surrounding U.S. policy, together with issues such as North Korea, as a source of uncertainty for the outlook of the global economy. - FY2017RestatedAnnual report
「Although employment conditions in the United States were improving, the global economy remained uncertain due to developments in the economic policies of the new administration, a slowdown in emerging-market economies, and the UK's issue of leaving the EU.」
It continues to identify the economic policies of the new U.S. administration, emerging-market economies, and the UK's issue of leaving the EU as sources of uncertainty for the global economy. - FY2017-Q3RestatedAnnual report
「The global economy remained uncertain, amid economic slowdowns in emerging Asian economies, including China, and resource-rich countries, as well as concerns about the policies of the new U.S. administration.」
It continues to identify economic slowdowns in emerging Asian economies and resource-rich countries, and concerns about the policies of the new U.S. administration, as sources of uncertainty for the outlook of the global economy. - FY2017-Q2First statedAnnual report
「The global economy remained uncertain, amid a slowdown in emerging-market economies, including China, and growing uncertainty surrounding the policies of the new U.S. administration.」
It identifies growing uncertainty surrounding the policies of the new U.S. administration as a source of uncertainty for the outlook of the global economy. No specific impact on the Company is described.