Sluggish Domestic Capital Investment and Private Consumption
First written in FY2017-Q3. 5 of 12 entries say "Worsened", first in FY2019-Q1. Latest entry: FY2020.
Eagle Industry moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
67 other companies' latest entry also says "Worsened".
- FY2020WorsenedAnnual report
「The Japanese economy was relatively stable in the first half, but after the start of the second half, economic conditions slowed markedly due to the consumption tax rate increase and US-China trade friction, among other factors.」
The slowdown in domestic business conditions became pronounced due to the consumption-tax increase and deterioration in the export-related environment, strengthening concerns about weak domestic demand. - FY2020-Q3WorsenedAnnual report
「Meanwhile, the Japanese economy was relatively stable in the first half, but after the start of the second half, business sentiment deteriorated markedly due to the consumption tax rate increase and weak performance in export-related manufacturing caused by US-China trade friction.」
The deterioration in domestic business sentiment became pronounced in the second half of the fiscal year due to the consumption-tax increase and weakness among export-related manufacturers, strengthening the wording from the previous references to weak domestic demand and uncertainty. - FY2020-Q2WorsenedAnnual report
「The Japanese economy remained relatively stable, but stagnating demand caused a stronger downward trend in the performance of the export sector, raising concerns about the impact on the economy as a whole.」
Although the Japanese economy was described as relatively stable, the report explicitly cited weaker export-sector performance due to stagnant demand and concerns about the impact on the economy as a whole, strengthening the expression of domestic economic risks. - FY2019SoftenedAnnual report
「The Japanese economy had remained relatively stable, but from the third quarter onward, the slowdown in the Chinese economy began to have a direct adverse impact on corporate performance.」
The domestic economy as a whole was considered relatively stable, weakening the previous reference to weak domestic capital investment and private consumption. Meanwhile, the impact of the Chinese slowdown on corporate performance was newly specified. - FY2019-Q3WorsenedAnnual report
「Cautious views of the outlook for corporate performance increased amid prolonged weakness in personal consumption, a slowdown in the Chinese market, declining business sentiment in the United States and Europe, and yen appreciation.」
The prolonged weakness in domestic consumption, combined with a slowdown in the Chinese market, weaker business sentiment in the United States and Europe, and yen appreciation, heightened uncertainty about the domestic real economy and corporate performance. - FY2019-Q2RestatedAnnual report
「The Japanese economy remained in a situation where consumption was sluggish, but corporate performance was largely stable and the economy as a whole remained firm. However, uncertainty about future developments increased, including the impact of U.S. protectionist policies on the export environment.」
Although sluggish consumption continued, the report also noted the overall firmness of the economy. Uncertainty over the export environment was separately identified as a risk related to U.S. protectionism and trade friction. - FY2019-Q1WorsenedAnnual report
「In Japan as well, expectations for a recovery in the real economy had risen against a backdrop of monetary easing, but the spread of trade friction involving major markets increased uncertainty about future corporate performance and private consumption.」
In addition to the existing weakness in domestic demand, the spread of trade friction increased uncertainty over the outlook for corporate performance and private consumption. - FY2018-Q3RestatedAnnual report
「Personal consumption remained weak, but business sentiment was gradually recovering.」
While personal consumption remained weak, business sentiment was considered to be recovering, indicating the coexistence of weak domestic demand and signs of improvement. - FY2018-Q2RestatedAnnual report
「Meanwhile, domestic demand in Japan remained sluggish, but accommodative monetary and fiscal policies improved corporate earnings in the export and construction sectors. Domestic capital investment also increased, albeit gradually, and the employment environment improved, with signs of recovery in the real economy beginning to emerge.」
While sluggish growth in domestic demand continued, the report also cited increased domestic capital investment and an improving employment environment, indicating the coexistence of weak domestic demand and signs of recovery. - FY2018-Q1RestatedAnnual report
「Meanwhile, although signs of earnings recovery have emerged in some sectors, including export-related industries, the Japanese economy remained generally weak in demand, with conditions still uneven.」
Although some export-related industries showed signs of recovery, demand remained weak across the domestic economy, continuing to indicate sluggish domestic demand. - FY2017MitigatedAnnual report
「There were signs of a gradual improvement in business sentiment, supported by the correction of the yen's appreciation from the third quarter onward and expectations for a recovery in corporate earnings.」
Although business sentiment improved and capital investment remained firm, the concern over weak domestic capital investment and private consumption eased. - FY2017-Q3First statedAnnual report
「Domestic capital investment and private consumption remained weak, leaving continued uncertainty in the real economy.」
Weak domestic capital investment and private consumption were first explicitly identified as sources of uncertainty for the Japanese economy, separate from the improvement in the export environment resulting from yen depreciation.