Bank of Japan Governor Kazuo Ueda leaves a press conference after a BOJ policy meeting in Tokyo, Japan June 17, 2025. REUTERS
TOKYO, July 10 (Reuters) – The impact of U.S. tariffs on Japan’s exports and output was limited for now, but many companies worried about the risk of weaking global demand ahead, the central bank said on Thursday.
While some areas in Japan saw companies delaying or reviewing capital expenditure plans, others said companies continued to increase spending to streamline operations and cope with labour shortages, according to a summary of the BOJ’s quarterly meeting of regional branch managers.
“At present, the impact was limited overall,” the summary said on how higher U.S. tariffs were affecting exports and factory output in regional Japan.
“As for the outlook, many regions saw companies voicing concern about slumping demand from rising U.S. sales prices and a slowdown in the global economy,” the summary said.
In a separate report, the BOJ maintained its assessment for all nine regions from three months ago to say their economies were recovering moderately.
The summary and report will be among factors the BOJ will scrutinise at its next policy meeting on July 30-31, when the board will issue fresh quarterly growth and price forecasts.
Reporting by Leika Kihara; Editing by Kim Coghill; Editing by Stephen Coates
