Risk of weaker transportation volumes and freight rate market conditions due to trade friction and protectionist policies
First written in FY2019. 5 of 8 entries say "Materialised", first in FY2020-Q1. Latest entry: 2026-08-04.
Kawasaki Kisen moved to the "Worse" side of this theme in 2019, 5 years before the typical company in this theme (2024).
1 other company's latest entry also says "Worsened".
- FY2026-H1MaterialisedAnnual report
「In the international logistics business, ocean and air transportation in the forwarding business remained sluggish in some automotive- and aircraft-related areas due to the impact of US tariffs on demand, although semiconductor transport volumes increased and the business as a whole remained broadly solid.」
The impact of US tariffs actually emerged as sluggish transport demand in some automotive- and aircraft-related areas. The disclosure also indicates that the impact was uneven, including an increase in semiconductor transport volumes. - FY2020MaterialisedAnnual report
「In the domestic logistics business, tugboat operations and air and ocean freight transportation were affected by lower cargo volumes resulting from the spread of COVID-19 toward the end of the fiscal year, although the warehousing business remained solid.」
The decline in cargo volumes associated with the spread of COVID-19 actually affected domestic logistics, including tugboat operations and air and ocean freight transportation, and became a factor weighing on the logistics business's performance. - FY2020-Q3RestatedAnnual report
「Domestic logistics remained firm, centered on tugboat services, integrated sea-and-land transport and warehousing. In international logistics, however, a decline in air cargo handling revenue, mainly due to US-China trade frictions, had a significant impact, resulting in lower revenue and profit for the logistics business as a whole year on year.」
The decline in air cargo handled as a result of US-China trade friction continued to affect actual operating performance. No new change in the nature of the risk's manifestation was disclosed. - FY2020-Q1MaterialisedAnnual report
「In addition, air cargo and e-commerce-related cargo from China to the United States declined as a result of US-China trade friction.」
The decline in transport volumes resulting from US-China trade friction actually occurred in international air cargo logistics and was identified as a factor behind lower revenue and profit in the logistics business. - FY2019First statedAnnual report
「In particular, changes in tax systems and economic policies in Japan and major trading countries and regions, including North America, Europe and China, as well as the implementation of protectionist trade policies, could lead to declines in international transport volumes and freight rates, adversely affecting the Group's financial position and operating results.」
The decline in international transport volumes and freight rates resulting from changes in tax and economic policies and protectionist trade policies was explicitly identified as a major risk.