Uncertainty in the Business Environment Due to Higher Resource Prices and Geopolitical Risks

「In the condominium market, which is the business area of our group, demand for home purchases is expected to remain firm and the market to remain stable, despite persistently high energy and raw material prices and geopolitical risks arising from heightened tensions in the Middle East. Demand is supported by the government's expanded and extended housing purchase support measures and tax incentives, as well as still-low mortgage rates.」

「During the current interim consolidated accounting period, Japan's economy showed signs of a recovery in personal consumption as employment and income conditions improved, and socioeconomic activity followed a gradual recovery trend. Meanwhile, the outlook for the economy remains uncertain due to developments in U.S. tariff policy, tensions in Japan-China relations, and fluctuations in domestic prices.」

「Meanwhile, the outlook for the economy remains uncertain due to soaring raw material and energy prices against the backdrop of an unstable international environment, volatility in financial and capital markets, and the direction of future U.S. policy.」

「At the same time, concerns remained about global downside risks to economic activity, including the impact of the prolonged conflict in Ukraine and instability in the Middle East, and the outlook remained uncertain.」

「Japan’s economy during the cumulative first quarter of the current consolidated fiscal year showed signs of recovery. Despite the impact of prolonged inflation in Europe and the United States, the normalization of social and economic activity progressed further, including the reclassification of COVID-19 to Category 5 under Japan’s legal framework.」

「During the cumulative six-month period under review, the Japanese economy showed signs of moving toward normalization following the impact of COVID-19. However, the outlook remained uncertain due to persistently high crude oil and raw material prices resulting from the prolonged situation in Ukraine, as well as the historically weak yen.」

「Meanwhile, concerns also arose about a downturn in economic activity due to the prolonged situation in Ukraine and higher prices resulting from the rapid depreciation of the yen, and the outlook remained uncertain.」

「In addition, the situation remains uncertain due to the escalating situation in Ukraine, the rapid depreciation of the yen and soaring raw material and energy prices.」

「The global economy also remains uncertain, owing to inflation driven by higher resource prices and geopolitical risks such as the situation in Ukraine.」