Nearly 80% of polled firms foresee economic slowdown in near future
Sunday, August 15, 2021 6:06 PM

Related Stories



TOKYO, Aug. 15, 2010 (Kyodo News International) -- Nearly 80 percent of 107 major Japanese companies polled expect the domestic economy to weaken in the near future, though 70 percent see it as expanding at present, according a Kyodo News survey compiled Sunday.

Concern about economic trends in the United States, Europe and China, and the appreciation of the yen are among factors blamed for the gloomy near-term outlook for economic activity in Japan, the survey showed.

Kyodo polled top executives at 107 leading Japanese companies, including Canon Inc. (NYSE:CAJ) , Nintendo Co., Nippon Steel Corp., Nomura Holdings Inc. (NYSE:NMR) , Mitsubishi UFJ Financial Group (NYSE:MTU) Inc., Sony Corp. (NYSE:SNE) and Toyota Motor Corp. (NYSE:TM) , between late July and early August.

In the survey, 74 companies said the Japanese economy is ''gradually expanding'' while one saw it as ''expanding.''

The finding testifies to a considerable improvement in business sentiment as 31 of the 109 companies covered in the previous survey at the end of 2009 said the economy was ''gradually expanding.''

To a multiple response question about factors underpinning the domestic economy, 87 companies referred to the growth of China and other emerging economies, and 66 noted government programs to stimulate personal consumption such as the ''eco-point'' system to promote environmentally friendly products.

But 84 companies were concerned about a possible slowdown in domestic economic activity in the near future, including two that voiced ''grave'' concern.

Asked when they expect the economy to begin slowing down, 28 companies said the October-December quarter of 2010 and 25 said the January-March quarter of 2011.

Among reasons for concern, overseas economic trends were cited by a large number of respondents, with 47 companies pointing to trends in the United States, 43 to those in Europe and 36 to those in China and other emerging economies.

In addition, 44 companies cited the yen's appreciation while 34 said stimulus measures will run out of steam.

The survey also found that a total of 52 companies supported a hike in the consumption tax rate to 10 percent or higher from the current 5 percent, including 16 that favored a rise to 15 percent. Two companies said the rate should not be raised.

A sales tax increase within two years was supported by 36 companies and a rise within three years by 20 companies.

 

Sponsors

Symbol :

Advertisement

Market news:

  • Aust. deports US man convicted in wife's death Nov 25, 2021 01:52 AM

    • CANBERRA, Australia - An American man returns on Thursday to the United States where he could face prosecution for drowning his wife during their 2003 honeymoon on the Great Barrier Reef, a crime for which he has served 18 months in an Australian prison.
    • Gabe Watson, 33, was deported on a commercial flight Thursday from the southern Australian city of Melbourne to Los Angeles accompanied by two Immigration Department staff and three Queensland state police officers, Immigration Minister Chris Bowen said.
    • Australia, a stanch opponent of capital punishment, delayed his deportation until it received a pledge from the U.S. government that it would not seek the death penalty against Watson.
      • SKorea boosts security as NKorea issues warning Nov 25, 2021 01:20 AM

        • INCHEON, South Korea - South Korea's president vowed Thursday to boost troops on an island targeted by a North Korean artillery barrage, while the North stridently warned of additional attacks if the South carries out any "reckless military provocations."
        • Seoul and Washington also increased pressure on China to use its influence on ally North Korea to ease soaring tensions that erupted after an exchange of fire Tuesday that left four South Koreans dead - including two civilians.
        • The North's bombardment of a tiny South Korean island of Yeongpyeong along a disputed maritime frontier alarmed world leaders including President Barack Obama, who reaffirmed plans for joint maneuvers with Seoul involving a nuclear-powered aircraft carrier in the Yellow Sea starting Sunday.
          • Go for turkey, not stuffing to keep the weight off Nov 25, 2021 12:44 AM

            • LOS ANGELES - More turkey, less white bread and mashed potatoes.
            • Just in time for holiday feasting, a large study found that diets higher in protein and lower in carbohydrates can help overweight adults who managed to drop some weight keep it off.
            • European researchers led by Denmark's University of Copenhagen think they have a solution to break the cycle.
              • Mexico sending more troops to zone next to Texas Nov 25, 2021 12:44 AM

                • MEXICO CITY - Mexico will send more troops and federal police to try to control drug violence that has spiraled into warfare in parts of the northeast along the U.S. border, the government said Wednesday.
                • The goal of "Coordinated Operation Northeast" is to reinforce government authority in the two states most heavily affected by a surge in violence following a split between the Gulf and Zetas drug gangs, federal police spokesman Alejandro Poire said.
                • But in a media briefing with all federal security officials and governors of Nuevo Leon and Tamaulipas, the affected states, Poire provided no details or numbers of reinforcements and answered no questions.
                  • Powerful storm to bring snow, ice to the Dakotas Nov 25, 2021 12:44 AM

                    • BISMARCK, N.D. - A powerful storm that pummeled much of the West is promising to bring its chaotic mix of snow, sleet and ice to much of the Dakotas on Thanksgiving Day.
                    • Meteorologists warned residents in the Dakotas to expect a range of messy wintery weather, from freezing drizzle in the eastern two-thirds of South Dakota to a possible blizzard in eastern North Dakota.
                    • "Like the Boy Scouts, you've got to be prepared for a North Dakota winter or you're asking for your own problems," said Gerald Miller, 52, who plowed roads on his farm just east of Bismarck on Wednesday.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
XXXXXXXXXX OVTI$0.43
sam farahanXXXXX TECD$0.95
XXXXXXXXXX GSS$0.05
XXXXXXXXXX ABB$0.31
adfgafg ERTS($0.26)
XXXXXXXXXX SD$0.03
XXXXXXXXXX ATML$0.11
XXXXXXXXXX CBPO$0.32
XXXXXXXXXX MA$3.54
XXXXXXXXXX WFR$0.13