Downside risks from China’s bad debt problem and prolonged monetary tightening in Europe and the US
First written in FY2024-Q2. 2 of 5 entries say "Reframed", first in FY2025-H1. Latest entry: FY2026-H1.
CCI Group moved to the "Worse" side of this theme in 2024, 2 years after the typical company in this theme (2022).
The whole theme swung hardest in 2020: 23 of 34 companies on the "Worse" side.
52 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「A cautious view of the sustainability of the economic recovery is warranted due to concerns over the impact and future direction of additional tariffs imposed by the US Trump administration, concerns that prolonged high prices will slow consumption, and the lack of visible measures to address the structural labour shortage.」
Additional tariffs imposed by the US administration, high prices and the structural labour shortage continue to be cited as factors raising concerns over the sustainability of the economic recovery. - FY2025ReframedAnnual report
「The Japanese economy continues to recover moderately, supported by solid corporate earnings. Expectations are rising for a full-fledged, domestic-demand-led recovery as positive developments such as wage increases exceeding inflation and expanded capital investment gain traction. However, attention must be paid to the impact on domestic manufacturing of the economic and foreign policies of US President Trump and developments in overseas economies in response, particularly higher tariffs on automobiles and China.」
The focus of attention was updated from China's bad-debt problems and prolonged monetary tightening in Europe and the US to the economic and foreign policies of the new US administration, higher tariffs and overseas economic developments. - FY2025-H1ReframedAnnual report
「We must also closely monitor the impact on the Japanese economy of overseas developments, including heightened geopolitical risks in the Middle East, China's economic slowdown and the outcome of the US presidential election.」
Regarding external risks related to China, the description changed from China's bad-debt problems and prolonged monetary tightening in Europe and the US to China's economic slowdown. - FY2024SoftenedAnnual report
「The recovery in economic activity has stalled, partly due to higher prices and slowing overseas economies, including China.」
The description has shifted from specific risks, namely China's bad-debt problems and prolonged monetary tightening in Europe and the US, to the general downward pressure from slowing overseas economies, including China. - FY2024-Q2First statedAnnual report
「Meanwhile, we must closely monitor the impact on the Japanese economy of worsening bad-debt problems in China and prolonged monetary tightening in Europe and the US.」
The company identified worsening bad-debt problems in China and prolonged monetary tightening in Europe and the US as new external risks to the Japanese economy.