Impact of Intergovernmental Agreements and Treaties and Protectionist Policies
First written in FY2023. 2 of 3 entries say "Worsened", first in FY2025. Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026-H1WorsenedAnnual report
「The business environment remains challenging in the automotive industry, the main business field of our group, due to the continued sluggish sales of Japanese automakers in the Chinese market and declining exports to the United States as a result of additional U.S. tariffs.」
The impact of protectionist policies has taken concrete form in the automotive-related business as a decline in exports to the United States resulting from additional U.S. tariffs. Weak sales by Japanese automakers in China have also continued. - FY2025WorsenedAnnual report
「Additional tariffs, particularly in the United States, and tighter import and export controls could affect the business plans of our group, including the business policies and management initiatives of each company and its business partners.」
For the risks associated with intergovernmental agreements and protectionist policies, tighter import and export controls were explicitly identified in addition to additional tariffs, clarifying the channels through which business plans could be affected. - FY2023First statedAnnual report
「The global economy has shifted from a global economic model toward protectionist economic activity, and national policies concerning the resource and energy environment, semiconductor manufacturing, and battery manufacturing for EVs, among other areas, are affecting all economic activity, not only the electrical and automotive industries.」
The risk that protectionist economic activity, national policies concerning resources and energy, semiconductors, and EV batteries, and intergovernmental agreements and treaties could affect business plans was separately disclosed for the first time. Local procurement and local production are being used as countermeasures.