Uncertainty over the economic outlook due to US-China trade friction and other factors
First written in FY2019-Q3. 8 of 18 entries say "Worsened", first in FY2019. Latest entry: 2026-06-09.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2025-H1RestatedAnnual report
「Despite uncertainties including rising prices and US trade policy, the economy was on a gradual recovery track due to improvements in employment and income conditions and stronger inbound demand.」
Although uncertainties related to rising prices and US trade policy remain, the document states that the domestic economy was on a recovery track due to improvements in employment and income and inbound demand. No material changes are reported in business and other risks. - FY2024-Q2MitigatedAnnual report
「During the cumulative second-quarter period, Japan's economy was on a gradual recovery track driven by consumption activity and inbound demand, despite soaring resource prices and the continuing depreciation of the yen due to unstable international conditions.」
Although soaring resource prices and the depreciation of the yen continued, the document states that the domestic economy was on a recovery track driven by consumption activity and inbound demand. - FY2023-Q3MitigatedAnnual report
「Following the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5 on 8 May 2023, we believe that its impact will be limited going forward, but we will continue to monitor the situation closely.」
Following the reclassification of COVID-19 to Category 5, the view is expressed that its impact will be limited. However, uncertainty related to the situation in Ukraine, resource prices and electricity charges, and the depreciation of the yen remains. - FY2023-Q2MitigatedAnnual report
「Following the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5 on 8 May 2023, we believe that its impact will be limited going forward, but we will continue to monitor the situation closely.」
The view is expressed that the impact of COVID-19 will become limited, indicating an easing of this risk. However, uncertainty related to the situation in Ukraine, resource prices, electricity charges, and the depreciation of the yen remains. - FY2023-Q1WorsenedAnnual report
「During the cumulative first-quarter period, concerns remained over the spread of the eighth wave of COVID-19, but no substantial restrictions on activity were imposed, allowing economic activity to normalize. Meanwhile, unstable international conditions resulting from the situation in Ukraine continued, and the domestic economic outlook remained uncertain due to soaring resource prices, resulting increases in electricity charges, and the continuing depreciation of the yen.」
While economic activity is normalizing, the eighth wave of COVID-19, the situation in Ukraine, soaring resource prices and electricity charges, and the depreciation of the yen are identified as new or continuing factors creating uncertainty. - FY2022-Q3WorsenedAnnual report
「However, infections caused by the Omicron variant surged in January, and priority preventive measures were implemented in many regions through March. Although infections subsequently began to decline, the number of infections surged again in July due to an Omicron subvariant. In addition, due to the impact of soaring resource prices and unstable international conditions resulting from the situation in Ukraine, domestic economic conditions remain uncertain.」
The July surge in infections caused by an Omicron subvariant is newly reported, and concerns over the external environment continue alongside soaring resource prices and the situation in Ukraine. - FY2022-Q2WorsenedAnnual report
「However, infections caused by the Omicron variant surged in January, and priority preventive measures were implemented in many regions through March. In addition, due to soaring resource prices and unstable international conditions resulting from the situation in Ukraine, domestic economic conditions remain uncertain.」
The Omicron variant, soaring resource prices, and unstable international conditions resulting from the situation in Ukraine are identified as new factors creating uncertainty, broadening concerns over the external environment. - FY2022-Q1WorsenedAnnual report
「During the cumulative first-quarter period, Japan's economy was expected to recover from the downturn caused by COVID-19, but infections caused by the Omicron variant surged in January and priority preventive measures were implemented in many regions, so the outlook remained uncertain.」
In addition to the previous infection risk, the document cites the surge in infections caused by the Omicron variant and the implementation of priority preventive measures, with uncertainty over the outlook continuing. - FY2021WorsenedAnnual report
「During the fiscal year, Japan's economy continued to be affected by COVID-19, and states of emergency were declared and priority preventive measures were applied in some regions. Vaccination is progressing and economic recovery is expected, but the outlook remains uncertain due to issues including the spread of infections overseas, semiconductor shortages, and rising crude oil prices.」
In addition to the continuing pandemic, the spread of infections overseas, semiconductor shortages, and rising crude oil prices have emerged as factors creating uncertainty, broadening concerns over the external environment. - FY2021-Q2RestatedAnnual report
「The impact of COVID-19 could cause promotional activities by domestic companies to remain stagnant, depending on when the outbreak actually subsides, potentially causing fluctuations in the Company's business performance.」
The document continues to state that, depending on when the COVID-19 outbreak subsides, promotional activities by domestic companies could remain stagnant and business performance could continue to fluctuate. - FY2021-Q1MaterialisedAnnual report
「The impact of COVID-19 could cause promotional activities by domestic companies to remain stagnant, depending on when the outbreak actually subsides, potentially causing fluctuations in the Company's business performance.」
The document continues to identify the risk that continued stagnation in economic activity due to COVID-19 could cause fluctuations in promotional activities and business performance depending on when the outbreak subsides. - FY2020-Q3MaterialisedAnnual report
「Since the beginning of 2020, economic activity has stagnated due to the impact of the global spread of COVID-19. Efforts are being made to balance preventing the spread of infection with restoring economic activity, but the outlook remains uncertain.」
The stagnation of economic activity and uncertainty over the outlook caused by COVID-19 continued in the third quarter. - FY2020-Q2MaterialisedAnnual report
「Since the beginning of 2020, economic activity has stagnated due to the impact of the global spread of COVID-19, resulting in an uncertain outlook.」
COVID-19, which had been identified as a concern through the previous quarter, is now reported to have caused stagnation in economic activity and an actual impact on business performance. - FY2020-Q1WorsenedAnnual report
「During the cumulative first-quarter period, Japan's economy remained uncertain, although the impact of the October 2019 consumption tax increase on private consumption was contained by various countermeasures. Concerns remained over the effects of the US-China trade dispute, rising tensions in the Middle East, the UK's withdrawal from the EU, and the global spread of COVID-19.」
In addition to the previous US-China trade dispute and other factors, the situation in the Middle East, the UK's withdrawal from the EU, and the global spread of COVID-19 are listed as concerns, with further reference to uncertainty over the outlook. - FY2019WorsenedAnnual report
「As for the outlook, Japan's economy is expected to continue its gradual recovery, but overseas risks are expected to increase due to escalating international trade friction and political and economic instability in Asia, with uncertainty over the outlook expected to persist.」
In addition to the previous US-China trade dispute and other factors, the document states that overseas risks will increase due to escalating international trade friction and political and economic instability in Asia. - FY2019-Q3First statedAnnual report
「Meanwhile, the economic outlook remains uncertain due to the impact of overseas political and economic developments, including the US-China trade dispute.」
Overseas political and economic developments and the US-China trade dispute are identified as risks creating uncertainty over the economic outlook.