Impact of Trade Frictions on the Economy
First written in FY2019-Q2. 14 of 19 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「While improvements in the employment and income environment and the effects of various policies are supporting the economy, U.S. trade policy and rising prices may affect personal consumption and market conditions, and caution about the economic recovery is becoming more widespread.」
The potential impact of U.S. trade policy and rising prices on personal consumption and market conditions has been reconfirmed as a source of uncertainty in the economic environment. - FY2025RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy maintained a moderate recovery trend, supported by improvements in the employment and income environment and corporate capital investment. However, as uncertainties such as rising prices and international trade risks persist, the prevailing view remains cautious about sustained economic expansion.」
While noting the recovery trend supported by the employment and income environment and capital investment, the company has reconfirmed the uncertainty resulting from rising prices and international trade risks. - FY2025-H1RestatedAnnual report
「No new business or other risks arose during the six months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no new developments or significant changes in existing risks, including the economic impact of trade friction. - FY2024-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no new developments or significant changes in existing risks, including the economic impact of trade friction. - FY2024-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2023-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the fiscal year under review. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2023-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2023-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2022-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2021-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the fiscal year under review. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2021-Q2RestatedAnnual report
「No new business or other risks arose during the first half of the current consolidated fiscal year. In addition, no material changes have occurred in the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2021-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has reconfirmed that there have been no significant changes in existing risks, including the economic impact of trade friction. - FY2020WorsenedAnnual report
「During the consolidated fiscal year under review, Japan's economy remained on a gradual recovery track as employment and income conditions improved. However, exports remained sluggish amid a slowdown in the global economy caused by factors including U.S.-China trade friction, and economic conditions showed signs of weakening amid the effects of typhoon damage and the decline in consumption following the consumption tax increase. In the second half of the fiscal year, the impact of the novel coronavirus disease compounded these factors, accelerating the deterioration in economic conditions.」
The global economic slowdown and sluggish exports resulting from trade friction between the United States and China continued, while the impact of infectious diseases compounded the effects of typhoons and the consumption tax increase, accelerating the economic downturn. - FY2020-Q3WorsenedAnnual report
「During the nine-month period ended 31 December of the current fiscal year, Japan's economy remained on a gradual recovery track as employment and income conditions improved. However, exports remained sluggish amid a slowdown in the global economy caused by factors including U.S.-China trade friction, while the economic outlook remained uncertain due to the effects of typhoon damage and the decline in consumption following the consumption tax increase.」
The slowdown in the global economy and sluggish export growth resulting from trade friction between the United States and China and other factors have become evident, and uncertainty over the economic outlook continues alongside the decline in consumption caused by typhoon damage and the consumption tax increase. - FY2020-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, Japan's economy showed weakness mainly in exports owing to trade friction between the United States and China and other factors, but remained on a moderate recovery path as capital investment increased and the employment and income environment improved.」
While continued weakness in exports owing to trade friction between the United States and China is highlighted, the statement also mentions a moderate recovery supported by capital investment and improvements in the employment and income environment. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy began to show signs of a pause in its recovery trend owing to the impact of trade friction between the United States and China and other factors, while corporate earnings began to deteriorate as export growth stagnated.」
The specific effects of trade friction between the United States and China and other factors are described as a pause in the economic recovery trend, sluggish export growth and deteriorating corporate earnings. - FY2019RestatedAnnual report
「Looking ahead, concerns include slowing exports owing to uncertainty over the outlook for the global economy, typified by trade friction between the United States and China, and stagnant demand for energy-related products. At the same time, raw material prices are trending upward, and despite the domestic economy being on a recovery path, difficult business conditions are expected to continue.」
Uncertainty in the global economy, including trade friction between the United States and China, and concerns about slowing exports continue to be highlighted. - FY2019-Q3WorsenedAnnual report
「Meanwhile, uncertainty continues, owing to the escalation of trade friction between the United States and China and instability in Europe.」
With regard to the trade-friction risk identified in the previous quarter, trade friction between the United States and China is described as having expanded and continues to be cited as a factor behind the uncertain economic environment. - FY2019-Q2First statedAnnual report
「Uncertainty continues, owing to soaring material prices, higher production and logistics costs resulting from labor shortages, the effects of trade friction and the economic impact of natural disasters such as torrential rain, typhoons and earthquakes.」
Trade friction is explicitly identified for the first time as a factor affecting the economy and is cited as one cause of uncertainty in the economic environment.