Deteriorating Export Conditions Due to US-China Trade Friction and the Slowdown in Overseas Economies
First written in FY2020-Q2. 4 of 10 entries say "Worsened", first in FY2020. Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026-H1WorsenedAnnual report
「Corporate earnings in the manufacturing sector were affected by downward pressure from tariffs, but remained at a high level overall, while private consumption remained firm despite the impact of rising prices.」
It states that corporate earnings in the manufacturing sector were in fact affected by downward pressure from tariffs. It explains that corporate earnings overall remained at a high level and that private consumption remained firm. - FY2024-Q3RestatedAnnual report
「The economic situation in the third quarter of fiscal 2023 showed signs of a gradual recovery overall, despite downward pressure from a slower pace of recovery in overseas economies, as capital investment and private consumption moved upward.」
It states that, while downward pressure from a slower pace of recovery in overseas economies continued, the domestic economy showed signs of a gradual recovery due to increases in capital investment and private consumption. - FY2024-Q2RestatedAnnual report
「The domestic economy in the first half of fiscal 2023 showed signs of a gradual recovery overall. Private consumption remained weak due to persistently high prices and sluggish real wage growth, and capital investment was broadly flat, but housing increased and exports remained on a positive trend.」
It states that, while weak private consumption and flat capital investment persisted, the domestic economy showed signs of a gradual recovery due to improvements in housing and exports. It reconfirms the coexistence of external downward pressure and a domestic recovery. - FY2024-Q1External downward pressure alongside a domestic recoveryAnnual report
「The economic situation in the first quarter of fiscal 2023 showed signs of recovery, supported by the emergence of pent-up demand and other factors, despite downward pressure from already elevated resource prices and a slower pace of recovery in overseas economies.」
It states that, while external downward pressure from elevated resource prices and a slower pace of recovery in overseas economies continued, the economy as a whole showed signs of recovery due to pent-up demand and other factors. - FY2022WorsenedAnnual report
「The impact of shortages and rising prices of raw materials, including crude oil, has expanded, while Russia's invasion of Ukraine has added to the uncertainty surrounding the extent of the impact.」
In addition to the deterioration in the export and economic environment caused by US-China trade tensions and COVID-19, external-environment risks from shortages and rising prices of raw materials and Russia's invasion of Ukraine were noted. - FY2022-Q2Improving exports alongside weak domestic consumptionAnnual report
「In the first half of fiscal 2021, exports and other areas improved, but personal consumption remained weak, particularly in services spending. Weakness intensified in some areas, and the domestic economy overall remained in a difficult situation.」
Although exports and other areas improved, weakness in personal consumption intensified, particularly in services spending, and the domestic economy as a whole remained in a difficult situation. - FY2021-Q3MitigatedAnnual report
「The economy in the third quarter of fiscal 2020 remained difficult, but showed signs of recovery as personal consumption, exports and production began to recover, despite a decline in capital investment, while the decrease in corporate earnings also began to narrow.」
Economic activity, including exports, showed signs of recovery, and the deterioration in the export environment stemming from US-China trade tensions and other factors eased to some extent. However, uncertainty caused by declining capital investment and COVID-19 remained. - FY2021-Q2WorsenedAnnual report
「In the first half of fiscal 2020, the domestic economy remained in a difficult situation overall as the spread of COVID-19 caused personal consumption to contract sharply, capital investment remained weak, and exports also declined substantially.」
In addition to the weak export environment caused by US-China trade tensions and other factors, COVID-19 further deteriorated personal consumption, capital investment and exports. - FY2020WorsenedAnnual report
「In the second half of the fiscal year, personal consumption declined due to the consumption tax increase and unsettled weather, corporate capital investment decreased, and exports remained sluggish. In addition, economic activity came under significant downward pressure from the impact of COVID-19, resulting in a lack of momentum.」
In addition to the previously noted weakness in the export environment caused by US-China trade tensions and other factors, the impact of COVID-19 placed downward pressure on the domestic economy as a whole. - FY2020-Q2First statedAnnual report
「In the first half of fiscal 2019, the domestic economy showed weakness in production, while exports remained sluggish due partly to the impact of US-China trade tensions. However, personal consumption and capital investment showed signs of recovery, and the economy overall was on a moderate recovery path.」
The external environment, in which exports were weak due to factors including US-China trade tensions, can be confirmed separately for the first time as part of the domestic economic conditions in the first half of fiscal 2019.