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Japan firms worry about oil, supply chain impact from Ukraine crisis

By Reuters

TOKYO – Nearly 70% of Japanese firms expect the Ukraine crisis to impact their earnings, with a majority of those voicing concern about surging oil prices, a Reuters poll showed.

Below are the questions and answers in the March 2-11 poll, conducted for Reuters by Nikkei Research. Answers are denoted in percentages. Percentage totals for a given question may not come to exactly 100% due to rounding. The poll and reply totals are in absolute terms. A total of 240 companies responded to the survey.

1. Are you concerned about an impact the situation in Ukraine has on Japanese economy? (Pick one)

Greatly To a degree Not really No at all Polled Replied

All 44% 55% 2% 0% 501 236

Manufacturers 43% 56% 2% 0% 250 126

Non-manufacturers 45% 54% 2% 0% 251 110

2. How much impact do you think the Ukraine situation has on your business earnings? (Pick one)

Big impact To a degree Not really Not at all Polled Replied

All 9% 60% 28% 3% 501 231

Manufacturers 10% 60% 30% 1% 250 124

Non-manufacturers 8% 61% 25% 6% 251 107

2-1. For those who pick yes in Q2, what impact are you worried about the most? (Pick one)

Stock falls Yen rises Oil price spike Supply chain disruption Trade declines Others Polled Replied

All 3% 2% 63% 15% 9% 8% 501 160

Manufacturers 0% 3% 63% 16% 10% 7% 250 86

Non-manufacturers 5% 0% 64% 14% 8% 9% 251 74

3. How long do you think it takes to resolve the Ukraine situation? (Pick one)

1 month 2 months 3 months 4 months 5 months Half year or longer Polled Replied

All 9% 11% 32% 1% 2% 46% 501 222

Manufacturers 7% 12% 33% 2% 1% 46% 250 118

Non-manufacturers 11% 11% 30% 0% 3% 46% 251 104

4. What kind of results do you expect to see in the upper house elections this summer? (Pick one)

LDP alone LDP/Komeito coalition LDP/Komeito plus like-minded Others Polled Replied

wins majority win majority lawmakers win two-thirds majority

All 28% 47% 16% 9% 501 214

Manufacturers 27% 49% 16% 8% 250 116

None-manufacturers 29% 45% 16% 10% 251 98

5. What policy measures do you want the government to pursue after the upper house elections? (Pick up to three)

Steps Wage Fiscal Deregulation Growth Stock Diplomatic COVID-19 Ageing Others Polled Replied

to cope growth reform strategy prices policy measures population

with

energy

and

broader

price

hikes

All 63% 19% 21% 13% 50% 11% 24% 43% 20% 3% 501 233

Manufacturers 63% 16% 22% 12% 53% 11% 23% 42% 22% 3% 250 125

Non-manufacturers 63% 22% 19% 15% 46% 10% 25% 44% 18% 4% 251 108

6. How do you evaluate the Tokyo Stock Exchange to realign its four markets into three targeting prime, standard and growth sectors, effective in April? (Pick one)

Highly Not really Cannot say Polled Replied

evaluate either

All 15% 34% 51% 501 232

Manufacturers 13% 36% 51% 250 124

Non-manufacturers 17% 31% 52% 251 108

7. Do you think the realignment will help the Tokyo Stock Exchange become more attractive?

Yes No Polled Replied

All 29% 71% 501 228

Manufacturers 27% 73% 250 122

Non-manufacturers 30% 70% 251 106