Economic Uncertainty Caused by Protectionist Policies and Trade Friction
First written in FY2019-Q1. 6 of 11 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026DroppedAnnual reportThe description of the economic environment for the year contains no explicit reference to U.S. trade policy or protectionist policies, which had been mentioned through the previous interim period.
- 2026-08-10RestatedFinancial results
「Although uncertainty about the outlook continues due to developments in the trade policies of various countries, overseas economic and price trends affected by those policies, and rising prices in Japan,」
The Company continued to cite uncertainty about the outlook stemming from trade policies, overseas economic and price trends, and rising prices in Japan. - FY2026-H1RestatedAnnual report
「Meanwhile, uncertainty about the outlook persisted due to the impact of continued inflation on private consumption and downside risks arising from the impact of U.S. trade policy.」
Downside risks arising from the impact of U.S. trade policy and the impact of inflation on private consumption continue to be identified as sources of uncertainty in the economic environment. - FY2025ReframedAnnual report
「During the consolidated fiscal year under review, Japan’s economy remained on a moderate recovery track, as employment and income conditions continued to improve. However, uncertainty about the outlook persisted due to the impact of U.S. trade policy, in addition to rising resource prices and inflation resulting from the weaker yen.」
The external environment relating to protectionism and trade friction, which had disappeared from prior disclosures, has reappeared this time as uncertainty about the outlook due to the impact of U.S. trade policy. - FY2021DroppedAnnual reportThe current year's discussion of the economic environment and risks contains no explicit reference to the protectionist policies or US-China trade friction described through the previous fiscal year.
- FY2020-Q2WorsenedAnnual report
「During the cumulative second-quarter period, Japan's economy lacked strength in exports and capital investment slowed due to the prolonged US-China trade friction and other factors, resulting in a pause in the economic recovery.」
The prolonged US-China trade friction is described as having caused not only continued weakness in exports but also a slowdown in capital investment and a pause in the economy, making the deterioration in the external environment more specific. - FY2020-Q1RestatedAnnual report
「During the cumulative first-quarter period, Japan's economy showed weakness, particularly in exports, due to the intensification of US-China trade friction and other factors, although employment conditions remained solid and the economy continued on a gradual recovery trend.」
The company continues to identify weak exports resulting from the intensification of US-China trade friction as a business-environment factor. - FY2019RestatedAnnual report
「During the current consolidated fiscal year, Japan's economy became uncertain due to the intensification of US-China trade friction and other factors, and exports showed weakness, although」
The company identifies uncertainty about the outlook and weak exports resulting from the intensification of US-China trade friction as external factors during the current fiscal year. - FY2019-Q3RestatedAnnual report
「During the cumulative third-quarter period, Japan's economy saw corporate exports stagnate due to the rise of protectionist economic policies worldwide and concerns over the resulting trade friction, although capital investment and personal consumption remained firm and the economy continued to recover gradually.」
The company continues to identify sluggish exports resulting from protectionist policies and trade friction as an external factor. - FY2019-Q2RestatedAnnual report
「Although the outlook became uncertain due to the rise of protectionist economic policies worldwide and concerns over the resulting trade friction, and corporate exports lacked strength, capital investment and personal consumption remained firm, and the economy continued on a gradual recovery trend.」
The company continues to identify protectionist policies and trade friction as external factors creating uncertainty about the outlook. - FY2019-Q1First statedAnnual report
「Although the outlook has become uncertain due to the rise of protectionist economic policies worldwide and concerns over the resulting trade friction,」
The company has for the first time explicitly identified protectionist economic policies and trade friction as external factors creating uncertainty about the economic outlook.