The Bank of Japan announced on Thursday that the effects of U.S. tariffs on Japan’s exports and manufacturing output have been relatively minor thus far. However, numerous companies have expressed growing concerns about diminishing global demand. In its quarterly meeting summary with regional branch managers, the bank noted that while some firms have postponed or reassessed their capital expenditures, others continue to invest in enhancing efficiency and tackling labor shortages. "Currently, the overall impact remains limited," the central bank stated, yet acknowledged that many regions have reported apprehensions about declining demand due to increased U.S. sales prices and a slowdown in the global economy. In another report, the BoJ reiterated its stance that all nine regions are "recovering moderately," consistent with its assessment from three months prior. These findings will contribute to the central bank's upcoming policy meeting on July 30–31, where updated economic and inflation forecasts will be released.