Greater uncertainty in the trade environment due to tariff increases and other factors
First written in FY2019-Q1. 9 of 13 entries say "Worsened", first in FY2019-Q2. Latest entry: 2026-10-30.
The whole theme swung hardest in 2022: 104 of 134 companies on the "Worse" side.
- 2026-10-30RestatedEarnings
「米国の通商政策の動向や中国経済の減速懸念、中東情勢をはじめとする地政学リスクなど、先行きには不透明感が残っております。」
米国の通商政策、中国経済、中東情勢などによる海外経済・通商環境の不透明感を再確認している。 - FY2026WorsenedAnnual report
「In addition, uncertainty continues owing to developments in US policy, concerns about a slowdown in the Chinese economy and rising geopolitical risks in various regions, including the situation in the Middle East.」
In addition to geopolitical risks including US policy, the Chinese economy and the situation in the Middle East, it identifies wider fluctuations in crude oil prices and instability in energy supply and demand as sources of uncertainty. - 2026-05-12WorsenedEarnings
「In addition, uncertainty continues owing to developments in US policy, concerns about a slowdown in the Chinese economy and rising geopolitical risks in various regions, including the situation in the Middle East.」
米国政策、中国経済、中東情勢に加え、各地の地政学リスクの高まりを不透明要因として記載している。 - FY2026-H1WorsenedAnnual report
「In addition, uncertainty is expected to continue owing to developments in US policy, a slowdown in the Chinese economy and rising geopolitical risks in various regions.」
In addition to US policy and a slowdown in the Chinese economy, it identifies rising geopolitical risks in various regions as an additional source of uncertainty in the overseas economy and trade environment. - FY2025WorsenedAnnual report
「The outlook for the business environment surrounding our Group is expected to remain uncertain, owing to rising costs caused by the prolonged situation in Ukraine, worsening conditions in the Middle East, sluggishness in the Chinese economy, future US policies and a weaker yen.」
In addition to existing trade and overseas economic risks, it specifies Ukraine, the Middle East, the Chinese economy, US policies and cost increases caused by yen depreciation as new sources of uncertainty. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy remained more uncertain than before, owing to the impact on the domestic economy of successive natural disasters, including major typhoons, the consumption tax increase implemented in October 2019 and the global spread of the novel coronavirus infection.」
In addition to existing uncertainty surrounding trade and overseas economies, it explicitly identifies the consumption tax increase and the global and domestic economic uncertainty associated with the spread of the novel coronavirus infection. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter, Japan's economy remained on a path of moderate recovery as employment and income conditions continued to improve, but uncertainty remained amid concerns about the impact of developments in US-China trade issues on the global economy, concerns about growth in China and developments in the European economy.」
It continues to describe uncertainty in the global economy surrounding US-China trade issues and the Chinese and European economies. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, Japan's economy remained on a path of moderate recovery as employment and income conditions continued to improve, but uncertainty remained amid concerns about the impact of developments in US-China trade issues on the global economy, concerns about growth in China and developments in the European economy.」
It continues to describe uncertainty in the global economy surrounding US-China trade issues and the Chinese and European economies. - FY2020-Q1WorsenedAnnual report
「During the cumulative first quarter, Japan's economy remained on a path of moderate recovery as employment and income conditions continued to improve, but concerns remain about the impact of developments in US-China trade issues on the global economy, the outlook for China's economy and developments in the European economy. Concerns also remain about delays in sales of summer products due to unsettled weather and the impact of tariff increases on prices.」
In addition to uncertainty surrounding US-China trade issues and the Chinese and European economies, it newly specifies the impact of tariff increases on prices. - FY2019WorsenedAnnual report
「The outlook is expected to remain uncertain, owing to the consumption tax increase scheduled for October 2019 in Japan and uncertainty in overseas economies, including trade issues involving the US administration.」
In addition to the existing trade concerns, it explicitly identifies the consumption tax increase scheduled for October 2019 as a source of uncertainty in the domestic and overseas outlook. - FY2019-Q3WorsenedAnnual report
「During the cumulative first nine months, Japan's economy remained on a path of moderate recovery, with the employment environment continuing to perform well, but the outlook remained uncertain amid the impact of global economic uncertainty caused by concerns about recessions in China and other emerging Asian economies, escalating US-China trade friction and global stock price declines.」
In addition to the existing concern about US-China trade friction, it cites economic downturns in China and elsewhere and global stock market declines, making the uncertainty surrounding the global economy more concrete. - FY2019-Q2WorsenedAnnual report
「During the cumulative first half, Japan's economy remained on a path of moderate recovery, with corporate earnings and the employment environment trending upward, but the outlook remained uncertain amid the impact of uncertainty in the global economy caused by concerns about the outlook for China and other emerging Asian economies and the risk of escalating US-China trade friction.」
In addition to the trade concerns noted in the prior quarter, it explicitly identifies the risk of escalating US-China trade friction, making the uncertainty surrounding the global economy more concrete. - FY2019-Q1First statedAnnual report
「Overseas economies also showed factors causing concern about the outlook, owing to trade concerns such as higher tariffs.」
It explicitly identifies trade concerns such as higher tariffs as a new source of concern regarding the outlook for overseas economies.