Tokyo Shoko Research, Ltd. released the results of its survey on the impact of the coronavirus on Tokyo companies’ operations. A total of nearly three-quarters, or 72%, of the firms responded that the outbreak either “is already having an impact” or “may have an impact in the future.” A wide range of businesses from manufacturers to wholesalers have seen adverse effects. Companies voiced concerns about decreases in sales and further slumps in procuring goods from China.
The survey was conducted via the Internet between Feb. 7 and Feb. 16. Of the 3,260 companies that responded, 29% said that they “are already being impacted,” and 43% said they “may be impacted in the future.” By sector, over 30% of companies in the manufacturing, wholesale, retail, and transportation sectors said they are already being impacted.
Asked about how they have been affected, many responded that their sales and product purchases have declined, while others said business trips to China were cancelled or suspended. Some mentioned delays in Chinese firms’ payments.
The percentage of Tokyo companies that said they are being or expect to be impacted was higher than the nationwide average (66%). Tokyo Shoko Research noted that a decline in Tokyo companies’ performance may lead to stagnation throughout the country.