U.S.-China Trade War Haunting Japanese Manufacturers
Tokyo, May 19 (Jiji Press)--Japanese manufacturers are closely watching unpredictable developments in the U.S.-China trade war, with the looming possibility of additional mutual import tariffs seen further dampening their businesses.
The U.S. government has announced a list of some 3,800 items of Chinese products that would be slapped with a tariff increase, including products assembled in China with parts exported from Japan, such as smartphones.
At a press conference on Wednesday, Japan Display Inc. <6740> President Yoshiyuki Tsukizaki apologized for the company's consolidated net loss of 109.4 billion yen for the year to March 2019.
The sea of red ink reflected sluggish sales of iPhones of Apple Inc., a major customer of the small and midsize liquid crystal display panel maker under business rehabilitation, due to a slowdown in the Chinese economy.
The company saw changes in the market that "exceeded" its expectations, he said.
[Copyright The Jiji Press, Ltd.]