Survey Reveals How Japanese Firms are Affected by the Global Pandemic

Photo credit to: https://www.reuters.com/

The World Health Organization has recently announced that the novel corona virus which originated in Wuhan China last December 2019 already become a global pandemic as it has affected numerous countries across the globe and brought about serious damage or repercussions not only in the population but also in the economic performance and stability in the affected countries.

 

In this regard, a lot of businesses and commercial establishments worldwide have already suffered a vast decline in their sales and production. Some of them are even in the brink of temporary closure and recession. This resulted in retrenchment to cut off losses for some companies based in various countries all over the globe.

 

Insofar as Japanese firms are concerned, a poll conducted among their business executives revealed that almost half of businesses in the Land of the Rising Sun are likewise suffering from a decrease in sales due to the continuous threat of the corona virus outbreak.

 

According to the poll conducted by the Reuters Corporate Survey around forty seven percent of Japanese firms are gravely affected by the pandemic in terms of their profits and output production. Meanwhile, forty percent of these companies suffer from a serious decline of up to thirty percent last February.

 

One of the respondents in the survey, a machinery maker manager said that “Our clients are trying to avoid receiving services as much as possible, which has reduced points of our contact with customers”.

 

Unfortunately, two thirds of these Japanese firms fear that the negative impact of the corona virus pandemic will continue to last over the next few months or even longer. They are afraid that a prolonged impact on the economy will lead to an economic imbalance and eventually a global recession.

 


The proliferation of the corona virus in different countries worldwide has greatly affected the stock markets and hampered global trading. But the various companies and establishments in the world are hopeful that this pandemic will eventually come to an end.

 

Reference: Japanese companies brace for prolonged virus impact

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