Downside risk to the domestic economy from the new U.S. administration’s protectionist and weak-dollar policies
First written in FY2017-Q3. 7 of 13 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 106 of 135 companies on the "Worse" side.
- FY2026-H1MaterialisedAnnual report
「The impact of higher prices on personal consumption and the impact of US tariff increases in certain industries have begun to emerge, and the situation will need to continue to be monitored closely.」
Recognition of the impact of changes in US tariff policy has progressed from a concern about future effects to an acknowledgment that effects have begun to emerge in certain industries. - FY2025WorsenedAnnual report
「However, going forward, the outlook for the global economy is becoming more uncertain due to changes in US tariff policy and retaliatory measures by other countries, and concerns remain about the impact on Japan.」
The previous concern about a downturn associated with US policy developments has been updated to concern involving the specific factors of changes in tariff policy and retaliatory measures by other countries. - FY2020RestatedAnnual report
「During the consolidated fiscal year (the company’s 53rd fiscal year), the Japanese economy remained on a gradual recovery path, but in addition to US-China trade friction, the spread of the novel coronavirus since the beginning of the year has begun to affect the global economy more than anticipated.」
The uncertainty in the external environment caused by US-China trade friction has been reconfirmed. The impact of the novel coronavirus is disclosed separately as a new risk. - FY2020-Q3RestatedAnnual report
「During the nine-month period of the consolidated fiscal year ended December 2019 (April 2019 to December 2019), the Japanese economy continued to be supported by firm domestic demand despite weakening external demand due to concerns about the course of US-China trade negotiations. Although the consumption-tax increase had a temporary impact, the economy appeared to remain on a gradual recovery path.」
The external environment has been reconfirmed as one in which external demand is weakening due to concerns about the course of US-China trade negotiations, continuing the concern about downside risks to the economy. - FY2020-Q2RestatedAnnual report
「During the six-month period of the consolidated fiscal year ended September 2019 (April 2019 to September 2019), the Japanese economy continued to be supported by firm domestic demand despite weakening external demand, particularly from China, amid uncertainty over the course of US-China trade negotiations. Although consumption temporarily declined following the consumption-tax increase, the economy appeared likely to continue its gradual recovery.」
Concerns about a downturn caused by uncertainty over the course of US-China trade negotiations have been reconfirmed as an external-environment risk continuing from previous concerns about US-China trade friction and trade policy. - FY2019-Q3WorsenedAnnual report
「During the nine-month period of the consolidated fiscal year ended December 2018 (April 2018 to December 2018), the Japanese economy appeared to remain on a gradual recovery path. However, uncertainty about the economic outlook has intensified, triggered by US-China trade friction, and concerns also remain about downside risks going forward.」
The wording changed from the previous concern about downside risks arising from US trade policy to heightened uncertainty about the economic outlook triggered by US-China trade friction. - FY2019-Q2RestatedAnnual report
「However, concerns also remain about downside risks arising from protectionist US trade policy and an escalation of trade friction with China.」
The downside risk to the economy arising from protectionist US trade policy continues to be disclosed. - FY2019-Q1ReframedAnnual report
「However, concerns also remain about downside risks arising from protectionist US trade policy and an escalation of trade friction with China.」
The wording changed from general concerns about a downturn caused by US trade policy to specifically identifying protectionist US trade policy and escalating trade friction with China as factors. - FY2018ReframedAnnual report
「However, looking ahead, concerns remain about an economic downturn in Japan and overseas, including the impact of a review of US trade policy.」
The wording changed from the previous specific reference to protectionist and weak-dollar policies under the new US administration to downside risks to the domestic and global economies stemming from a review of US trade policy. - FY2018-Q3RestatedAnnual report
「Although concerns remain about downside risks arising from US policy developments, uncertainty surrounding the Chinese economy and escalating tensions on the Korean Peninsula, both domestic and external demand are expected to remain firm going forward.」
The downside risk to the economy associated with US policy developments continues to be disclosed. - FY2018-Q2RestatedAnnual report
「During the six-month period of the consolidated fiscal year ended September 2017 (April 2017 to September 2017), the Japanese economy appeared to be continuing on a gradual recovery path, supported by firm domestic and external demand. However, concerns also remained about downside risks arising from US policy developments, uncertainty surrounding the Chinese economy and escalating tensions on the Korean Peninsula.」
The downside risk to the economy associated with US policy developments continues to be disclosed. This disclosure refers to policy developments rather than specifying protectionism or a weak-dollar policy. - FY2018-Q1RestatedAnnual report
「However, concerns also remain about downside risks arising from US policy developments and uncertainty surrounding the Chinese economy.」
The downside risk to the economy associated with US policy developments continues to be disclosed. This time, the specific details of protectionism and a weak-dollar policy are not stated. - FY2017-Q3First statedAnnual report
「Looking ahead, the possibility of protectionist policies and a weak-dollar policy under the new US administration cannot be ruled out, and concerns remain about a negative impact on the domestic economy.」
A negative impact on the domestic economy triggered by policies under the new US administration has been newly identified as an external-environment risk going forward.