Trade Friction and Outlook Uncertainty Resulting from US Protectionist Policies
First written in FY2018-Q3. 8 of 16 entries say "Restated". Latest entry: 2026-08-14.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2025-H1ReframedAnnual report
「The impact of import tariffs imposed by the United States and other factors continues to create uncertainty over the economic outlook.」
Risks related to U.S. protectionism and trade friction, whose description as a standalone theme had disappeared in the past, are again described this time as uncertainty over the economic outlook due to the impact of import tariffs. - FY2021DroppedAnnual report
「The timing of containment remains unforeseeable, and the uncertain outlook therefore continues.」
This fiscal year, it explains uncertainty over the outlook in relation to COVID-19 and the timing of its containment, and does not describe U.S. protectionist policies and trade friction as a standalone theme. - FY2021-Q3RestatedAnnual report
「Regarding the global economy, in addition to the intensification of the prolonged trade friction between the United States and China, business sentiment had been gradually recovering as a result of vaccine development and other factors, but COVID-19, which became a global pandemic, showed no sign of subsiding, leaving the outlook for the global economy uncertain.」
While referring to the recovery in business sentiment resulting from vaccine development and other factors, it continues to describe uncertainty in the global economy due to trade friction between the United States and China and the prolonged COVID-19 pandemic. - FY2021-Q2RestatedAnnual report
「Regarding the global economy, in addition to the intensification of the prolonged trade friction between the United States and China, business sentiment had been gradually recovering as a result of vaccine development and other factors, but COVID-19, which became a global pandemic, showed no sign of subsiding. Some European cities implemented lockdowns again, leaving the outlook for the global economy uncertain.」
While referring to the recovery in business sentiment resulting from vaccine development and other factors, it continues to describe the prolonged pandemic, renewed lockdowns in Europe and trade friction between the United States and China as factors creating uncertainty in the global economy. - FY2021-Q1RestatedAnnual report
「Regarding the global economy, in addition to the intensification of the prolonged trade friction between the United States and China, COVID-19, which became a global pandemic, showed no sign of subsiding. Some European cities implemented lockdowns again, leaving the outlook for the global economy uncertain.」
In addition to trade friction between the United States and China and uncertainty in overseas economies, it continues to identify the prolonged COVID-19 pandemic and renewed lockdowns in Europe as factors creating uncertainty over the outlook for the global economy. - FY2020WorsenedAnnual report
「However, the domestic economic environment deteriorated rapidly as a result of the spread of COVID-19.」
In addition to the previous trade issues and uncertainty in overseas economies, the rapid deterioration of the domestic economy caused by COVID-19 has become an additional factor creating uncertainty. - FY2020-Q3WorsenedAnnual report
「Against this backdrop, our professional services business, which serves professional personnel, expanded new orders mainly from a variety of operating companies and advanced its business activities amid labor shortages centered in the Tokyo metropolitan area and work-style reforms. The number of registered professionals for our Group's principal services, FreeConsultant.jp and the regional side-job service SkillShift, exceeded 14,000 as of the end of June 2020.」
The global spread of COVID-19, requests for people in Japan to refrain from going out, and restrictions on economic activity have made the outlook "extremely uncertain," expanding the uncertainty factors beyond the previous trade issues and uncertainty in overseas economies. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter of the current fiscal year, the Japanese economy showed growing concern about a recession due to declining consumer sentiment following the consumption tax increase and frequent natural disasters. The global economy also faced increasing uncertainty over the outlook because of the slowdown in the Chinese economy resulting from trade friction between the United States and China and the recent downturn in domestic and overseas economies caused by the COVID-19 pandemic.」
In addition to the previous trade issues and uncertainty in overseas economies, it cites the downturn in domestic and overseas economies caused by COVID-19, expanding the factors creating uncertainty over the outlook. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, the Japanese economy showed growing concern about a recession due to declining consumer sentiment following the consumption tax increase and frequent natural disasters. The outlook for the global economy also remained uncertain, including the impact of the slowdown in the Chinese economy resulting from trade friction between the United States and China.」
It continues to describe uncertainty over the outlook resulting from growing concern about a recession, trade friction between the United States and China, and the slowdown in the Chinese economy. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter of the current fiscal year, the Japanese economy remained on a moderate recovery track against a backdrop of improving corporate earnings and employment conditions. However, the outlook has become uncertain due to concerns about the impact of trade issues on the global economy, uncertainty in overseas economies and the effects of volatility in the financial and capital markets.」
It continues to identify trade issues, uncertainty in overseas economies and volatility in the financial and capital markets as factors creating uncertainty over the outlook. - FY2019-Q2RestatedAnnual report
「At the same time, we recognize the need to remain mindful of uncertainty over the outlook due to the impact of trade issues on the global economy, uncertainty surrounding overseas economies, including the outlook for the Chinese economy, and volatility in the financial and capital markets.」
It continues to identify uncertainty in the global economy resulting from protectionism and trade issues, and this time also cites the outlook for the Chinese economy and volatility in the financial and capital markets as factors. - FY2019-Q1RestatedAnnual report
「Potential risk factors for the outlook include the political and financial conditions in various countries, the spread of protectionism, and deterioration in emerging-market economies.」
In addition to uncertainty over the outlook resulting from protectionist policies in the United States and other factors, it identifies the political and financial conditions in various countries and deterioration in emerging-market economies as risk factors. - FY2018RestatedAnnual report
「The global economy remained in a situation requiring a cautious view of the outlook because of uncertainty resulting from the policies of the Trump administration in the United States and slowing growth in China and other emerging economies.」
It continues to identify uncertainty in the global economy resulting from the policies of the U.S. administration and other factors as a business-environment risk. - FY2018-Q3First statedAnnual report
「The outlook remains uncertain due to concerns over trade friction arising from protectionist policies in the United States, among other factors.」
It describes the protectionist policies of the United States and concerns about trade friction for the first time as factors creating uncertainty in the business environment.