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ECONOMY

60% of companies say economic security discussions should proceed with caution, NHK poll of 100 major companies

  • January 26, 2022
  • , NHK digital , 5:39 a.m.
  • JMH Translation

The government is working to improve economic security, but many companies are focused on strengthening supply chains, according to an NHK survey of 100 major companies. In fact, 60% of the companies said “the impact on corporate economic activities should be considered when advancing discussions on economic security.”

 

NHK conducted a questionnaire survey of 100 major companies from Dec. 24, 2021, through Jan. 14, 2022, and received responses from all companies.

 

Asked where they are focusing their efforts today, 44 companies said “strengthening supply chains for key supplies and raw materials” while 25 companies said “ensuring the safety and reliability of core infrastructure,” and 6 companies said “cultivating advanced technology through public-private technological cooperation.”

 

In addition, 10 of the 15 companies that did not select a response listed among the choices but wrote in their answer cited “improving information management.”

 

Some pointed out that regulations to prevent the outflow of technology would have an impact on economic activities. When asked how the discussions should be handled, only 16 companies answered that “discussions of necessary regulations should move forward” while 60 companies said that “discussions should proceed with caution, taking into consideration the impact on corporate economic activities.” One company said such discussions “should not move forward” and seven companies gave other responses.

 

As the battle for supremacy in the field of high-tech intensifies between the United States and China, Japan is also rushing to strengthen its economic security by preventing the outflow of its advanced technologies and securing semiconductors, pharmaceuticals, and other key supplies. The government plans to submit a new bill to the ordinary Diet session now underway.

 

[Asked about the current state of the domestic economy, a total of 65 companies said that the economy is “expanding” (“expanding moderately,” 62; “expanding,” 3). This represents a 1.6-fold increase over the previous survey conducted from July to August last year. Meanwhile 30 companies said that the economy has leveled off, and one company said that it is in recession.]

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