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About 70% of Japanese corporations wishing to continue their operations are reconsidering or re-examining their business methods due to global hazards such as the coronavirus pandemic, a recently published survey showed.
With the spread of COVID-19 hitting the global economy since last year, 64. 8% of corporations with relations with foreign industry reported a negative effect in terms of sales by the 2020 monetary year ending this month, according to the Japan Foreign Trade Organization. .
COVID-19 and the blockades forced Japanese corporations to restructure their business plans to better deal with the consequences of the virus.
Between global risks, industry tensions between the United States and China, and export restrictions imposed through the two economic giants have also raised considerations between companies.
The survey found that 36. 4% were involved in China implementing its export regulations over the next two or three years, while 32. 6% feared the United States would do the same.
42. 5% of respondents, in addition to those in the food, clothing and electrical machinery sectors, indicated that they were reviewing their sales strategies.
The survey also found that in fiscal 2020, sales abroad fell by an average of 38. 4%, more than 10 numbers above domestic sales, in the clothing and retail sectors.
Although the proportion of companies planning to expand over the next 3 years has reached a record, jetro’s survey indicated that the proportion of those still looking for incursions had declined only slightly, underlining that the willingness to expand “has not diminished. “Decreased.
Approximately 13,500 Japanese corporations ranging from trademarks to commercial homes were surveyed between October expired and early December, with a total of 2,722 valid responses.
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