Impact of US-China Trade Friction on the Global Economy
First written in FY2019-Q3. 4 of 8 entries say "Worsened", first in FY2020-Q1. Latest entry: FY2023.
Kubotek moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2019: 13 of 36 companies on the "Worse" side.
3 other companies' latest entry also says "Other".
- FY2023Mentioned againAnnual report
「However, the impact on performance was significant due to restrictions on sales activities resulting from the US-China trade tensions and the spread of COVID-19, customers' reviews of their capital investment plans, and tight supply and demand for components,」
The US-China trade tensions were mentioned again not as a standalone major risk but in the explanation of significant events related to the going-concern assumption. - FY2021DroppedAnnual report
「The principal risks among the matters concerning the business and accounting conditions described in the annual securities report that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies are as follows.」
The current description of the business environment and major risks does not explicitly mention the impact of the US-China trade tensions on the global economy. - FY2021-Q1MaterialisedAnnual report
「During the three-month period of the current fiscal year, Japan's economy remained in an uncertain environment as economic activity stagnated due to the impact of COVID-19.」
The stagnation of economic activity caused by COVID-19 was described as an actual business-environment factor. - FY2020WorsenedAnnual report
「During the current fiscal year, Japan's economy slowed as the global economy weakened due to the US-China trade tensions and the spread of COVID-19, increasing uncertainty about the outlook.」
The company cited a slowdown in the global economy caused by the spread of COVID-19 in addition to the US-China trade tensions, indicating that uncertainty in the external environment had increased. - FY2020-Q3WorsenedAnnual report
「During the nine-month period of the current fiscal year, Japan's economy remained in an uncertain environment, as concerns about the prolonged US-China trade tensions increased.」
The wording indicated that concerns about the prolonged US-China trade tensions had increased, reflecting the view that the external environment remained uncertain. - FY2020-Q2WorsenedAnnual report
「During the six-month period of the current fiscal year, concerns about the prolonged US-China trade tensions persisted, and uncertainty about the outlook increased.」
The company indicated that concerns about the prolonged US-China trade tensions persisted and that uncertainty about the outlook was increasing. - FY2020-Q1WorsenedAnnual report
「During the three-month period of the current fiscal year, Japan's economy remained in an uncertain environment, facing concerns including the prolonged US-China trade tensions and a slowdown in overseas economies.」
The wording regarding US-China trade tensions changed from “escalating” to “prolonged,” and a slowdown in overseas economies was also cited as a concern. The view that the outlook remains uncertain continued. - FY2019-Q3First statedAnnual report
「During the nine-month period of the current fiscal year, Japan's economy continued to recover moderately, but the outlook became uncertain amid concerns about the impact of escalating US-China trade tensions on the global economy.」
Concerns about the impact of escalating US-China trade tensions on the global economy and uncertainty about the outlook were identified for the first time as external-environment risks.