Japan Inc expresses understanding of Tokyo's tough trade stance vs Korea

TOKYO, Aug 20 (Reuters) - Japanese companies broadly support Prime Minister Shinzo Abe's tough trade stance against South Korea,
a Reuters poll found.
The Corporate Survey also found three-fourths of Japanese companies aren't raising annual bonuses this summer, a sign many see
the economy's growth sputtering as the U.S.-China trade war stokes fears of a global downturn.
Below are the questions and answers to the poll conducted by Nikkei Research between July 31-Aug. 14 for Reuters. Answers are
denoted in percentage points, while the poll and reply totals are represented in actual figures.

1. Japan's government has tightened curbs last month on exports to South Korea of three semiconductor materials. Do you worry about
economic impacts? (Pick one)
Sectors Yes, greatly Yes, to a degree Not really Not at all Polled Replied
All 4% 40% 42% 14% 504 252
Manufacturers 5% 42% 42% 12% 254 130
Non-Manufacturers 2% 39% 42% 16% 250 122
1a. If you chose yes to Q1, what economic impact do you worry about the most? (Pick one)
Sectors Global Hits to Extension Worsening Boycott of Lowering of worsening of Others Polled Replied
economic global of trade of Japanese corporate Japan's Japan Inc's
slowdown supply friction Japan-Kore products competitiveness profits
chain a ties in long run
All 22% 4% 19% 21% 2% 11% 22% 0% 504 112
Manufacturers 23% 5% 23% 15% 2% 13% 20% 0% 254 61
Non-Manufacturers 22% 2% 14% 27% 2% 8% 25% 0% 250 51
2. How do you evaluate Japanese government's explanation on its export curbs? (Pick one)
Sectors Fully Explained to Not enough Not at all Polled Replied
explained a degree
All 20% 53% 24% 2% 504 250
Manufacturers 19% 53% 25% 3% 254 129
Non-Manufacturers 22% 53% 23% 2% 250 121
3. Japan's government has decided to exclude South Korea from a so-called "white list" of favoured export destinations. Do you worry
about its economic impact? (Pick one)
Sectors Yes, greatly Yes, to a degree No, not really No not at all Polled Replied
All 4% 42% 42% 12% 504 250
Manufacturers 4% 45% 40% 11% 254 129
Non-Manufacturers 4% 40% 43% 13% 250 121
3a. If you chose yes to Q3, what economic impacts do you worry about the most? (Pick one)
Sectors Global Hits to Extension Worsening Boycott of Lowering of Worsening of Others Polled Replied
economic global of trade of Japanese corporate Japan's Japan Inc's
slowdown supply friction Japan-Kore products competitiveness profits
chain a ties in long run
All 3% 3% 17% 44% 6% 8% 17% 1% 504 116
Manufacturers 3% 6% 14% 38% 6% 10% 21% 2% 254 63
Non-Manufacturers 4% 0% 21% 51% 6% 6% 13% 0% 250 53
4. If South Korea brings a case against Japan's export curbs to the WTO, do you think Japan will win the case?
Sectors Yes No Polled Replied
All 94% 6% 504 238
Manufacturers 91% 9% 254 124
Non-Manufacturers 96% 4% 250 114
5. Do you agree with the government's aim of raising minimum wages to 1,000 yen ($9.40) at an early stage from the current national
average at 874 yen?
Sectors Yes No Polled Replied
All 65% 35% 504 241
Manufacturers 66% 34% 254 125
Non-Manufacturers 64% 36% 250 116
6. In Japan minimum wages have been raised by 3% for a third consecutive year through fiscal 2018. What do you think will be an
appropriate degree of increase over the next three years?(Pick one)
Sectors 0% Above 0% to 3% to 5% or more Polled Replied
below 3% below 5%
All 1% 72% 23% 5% 504 240
Manufacturers 2% 73% 20% 6% 254 125
Non-Manufacturers 0% 70% 25% 4% 250 115
7. What do you expect bonus payments will be this summer compared with the last? (Pick one)
Sectors Big drop Slight Flat Slight Large gain No bonus Polled Replied
decrease increase system
All 3% 21% 48% 23% 3% 2% 504 247
Manufacturers 4% 24% 45% 24% 3% 1% 254 127
Non-Manufacturers 2% 18% 52% 23% 3% 3% 250 120

($1 = 106.3800 yen)

(Reporting by Tetsushi Kajimoto)


2019-08-20 01:00:05

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.