Nearly half of Japan firms in Asia expect recovery in 2nd half of 2020: NNA poll

03, Jul. 2020

Photo by AbsolutVision on Unsplash
Photo by AbsolutVision on Unsplash

TOKYO, NNA - Nearly half of the Japanese companies operating in Asia expect to see an economic recovery in the region in the second half of this year following the downturn caused by the coronavirus pandemic, according to a recent survey by NNA Japan Co.

According to the poll, to which 1,318 Japanese business expatriates in 14 countries and regions responded in late June, 4.2 percent of them said the business climate would "improve" and 41.9 percent that it would "moderately improve" from the first half of 2020, respectively.

In the financial and business hubs of Hong Kong and Singapore, however, less than 30 percent of respondents expect firm or moderate improvement in the second half of 2020 from the preceding half.

Japanese manufacturers show a slightly more optimistic view compared to nonmanufacturers, with 50.2 percent of respondents in the former group anticipating firm or moderate improvement in business conditions against 42.7 percent in the latter, according to the poll.

Japanese companies largely show a cautious outlook on a second and third wave of the novel coronavirus outbreak.

They said economic recovery may be swayed by such risks as dampened consumer sentiment in major markets like Europe and the United States, international affairs including trade and political spats between the United States and China, and social unrest and the employment picture in each of the countries and regions covered. (NNA/Kyodo)