Downside risk to results from domestic and overseas economic fluctuations and intensifying competition for orders

「Amid numerous uncertainties affecting the domestic and overseas economies, concerns about an economic slowdown due to rising prices and changes in monetary policy, as well as the impact of US trade policy and developments in the Middle East on the domestic and overseas economies, mean that significant uncertainty is still expected and the outlook is likely to remain severely challenging and unpredictable.」

「今後の見通しにつきましては、物価上昇や金融政策の変化に伴う景気減速懸念に加え、米国の通商政策や中東情勢が及ぼす国内外経済への影響等、依然として不透明な状況が想定されます。」

「During the interim consolidated accounting period under review, the Japanese economy continued to recover moderately as employment and income conditions improved and various policies took effect. However, the outlook remained uncertain due to the impact of geopolitical risks and US trade policy on the domestic and overseas economies, rising prices and other factors. In the plant engineering industry, public investment remained solid and private-sector capital investment showed signs of recovery, but competition for orders and on price remained severe due to the uncertain outlook arising from rising prices, including raw material prices, and trends in overseas economies.」

「Amid numerous uncertainties affecting the domestic and overseas economies, concerns about an economic slowdown due to rising prices and changes in monetary policy, as well as the impact of geopolitical risks and US trade policy on the domestic and overseas economies, mean that significant uncertainty is still expected and the outlook is likely to remain severely challenging and unpredictable.」

「During the current interim consolidated accounting period, there were no new business or other risks, and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」

「Amid numerous uncertainties affecting the domestic and overseas economies, concerns about an economic slowdown due to high prices and monetary tightening, as well as the economic impact of geopolitical risks, mean that significant uncertainty is still expected and the outlook is likely to remain severely challenging and unpredictable.」

「In the plant engineering industry, public investment remained solid, but the recovery in private-sector capital investment slowed. In addition, the outlook remained uncertain due to rising prices and the international situation, and competition for orders and on price remained severe.」

「Meanwhile, the outlook remained uncertain due to rising energy and raw material prices resulting from the situation in Ukraine and other factors, as well as global monetary tightening. In the plant engineering industry, public investment remained solid and private-sector capital investment showed signs of recovery. However, the outlook remained uncertain due to rising prices and the international situation, and competition for orders and on price remained severe.」

「Meanwhile, the outlook remained uncertain due to rising energy and raw material prices resulting from the situation in Ukraine and other factors, as well as global monetary tightening. In the plant engineering industry, public investment remained firm and private-sector capital investment showed signs of recovery. However, the outlook remained uncertain due to rising prices and the international situation, and competition for orders and on price remained severe.」

「During the cumulative third quarter under review, although COVID-19 still showed no signs of ending, social and economic activity moved toward normalization due to the effects of various policies. However, the economy remained uncertain due to various factors, including soaring energy and commodity prices resulting from the prolonged situation in Ukraine, supply constraints for raw materials and concerns about the spread of COVID-19 overseas. / In the plant engineering industry, public investment became firmer and private-sector capital investment showed signs of recovery. However, customers remained cautious in making investment decisions due to the uncertain outlook arising from the impact of COVID-19 and the international situation, and competition for orders and on price remained severe.」

「In the plant engineering industry, public investment became firmer and private-sector capital investment showed signs of recovery. However, customers remained cautious in making investment decisions due to the uncertain outlook arising from the impact of COVID-19 and the international situation, and competition for orders and on price remained severe.」

「During the cumulative first quarter under review, measures to address COVID-19 progressed and restrictions on social and economic activity began to ease, but the pandemic still showed no signs of ending. The economy remained uncertain due to various factors, including soaring energy and commodity prices associated with the situation in Ukraine, supply constraints for raw materials and foreign exchange fluctuations. In the plant engineering industry, public investment remained firm and private-sector capital investment showed signs of recovery. However, customers remained cautious in making investment decisions due to the uncertain outlook arising from the impact of COVID-19 and the international situation, and competition for orders and on price remained severe.」

「The current outlook is clouded by numerous uncertainties affecting the domestic and overseas economies. Raw material prices have risen further in the wake of COVID-19 and the Russia-Ukraine conflict, raising concerns that customers may postpone capital investment decisions. The near-term outlook is therefore uncertain.」

「In the plant engineering industry, public investment remained high and private-sector capital investment showed signs of recovery amid the impact of COVID-19, but investment decisions remained cautious and competition for orders and on price remained severe.」

「During the cumulative second quarter under review, measures such as vaccination progressed as the impact of COVID-19 continued, but social and economic activity remained significantly restricted and the economy continued in an extremely challenging condition. In the plant engineering industry, public investment remained firm amid the impact of COVID-19. Although private-sector capital investment showed signs of recovery, investment decisions remained cautious, and competition for orders and on price remained severe.」

「In the plant engineering industry, public investment remained firm amid the impact of COVID-19, but private-sector capital investment decisions became cautious due in part to the limited recovery in corporate earnings, and competition for orders and on price remained severe.」

「In the plant engineering industry, public investment remained firm amid the impact of COVID-19. Although some recovery was seen in private-sector capital investment, investment decisions remained generally cautious, and competition for orders and on price remained severe.」

「During the cumulative third quarter under review, domestic and overseas economic activity stagnated due to the impact of COVID-19, uncertainty about the outlook increased and the Japanese economy remained in an extremely challenging condition. In the plant engineering industry, public investment remained firm amid the impact of COVID-19, but private-sector capital investment decisions remained cautious, and competition for orders and on price remained severe.」

「The COVID-19 pandemic had a significant impact on domestic and overseas economic activity. Although some recovery was seen in exports and production and some improvement in corporate earnings, uncertainty about the outlook increased and the economy remained in an extremely challenging condition. / In the plant engineering industry, public investment remained firm amid the impact of COVID-19, but companies remained cautious in making decisions on private-sector capital investment, and competition for orders and on price remained severe.」

「During the cumulative first quarter under review, the Japanese economy remained in an extremely challenging condition due to the impact of COVID-19, including declines in exports, production and corporate earnings and a slowdown in employment conditions. In the plant engineering industry, public investment remained firm amid the impact of COVID-19, but private-sector capital investment became more cautious as corporate earnings declined, and competition for orders and on price remained severe.」

「However, uncertainty about the economic outlook intensified due to destabilizing factors, including uncertainty in overseas economies arising from trade issues, the outlook for the Chinese economy and the UK's withdrawal from the EU, as well as the impact of labor shortages. In the plant engineering industry, public investment remained firm and private-sector capital investment was generally solid despite some weakness, but competition for orders and on price remained severe, partly due to the impact of labor shortages.」

「Uncertainty about the economic outlook intensified against a backdrop of uncertainty in overseas economies, including the US-China trade issue and the slowdown in the Chinese economy, as well as the impact of labor shortages. In the plant engineering industry, public investment remained firm and private-sector capital investment was generally solid despite some weakness, but competition for orders and on price remained severe, partly due to the impact of labor shortages.」

「Although exports and production remained weak, the Japanese economy continued on a moderate recovery trajectory as corporate earnings and employment conditions improved. However, uncertainty about the economic outlook intensified further due to destabilizing factors, including escalating US-China trade tensions, stagnant exports resulting from the slowdown in the Chinese economy and increased cost burdens.」

「The company expects the domestic and overseas capital investment environment to remain generally challenging and is reviewing its outlook in light of trends in private-sector capital investment and the global economy.」

「In the plant engineering industry, public and private-sector capital investment remained generally flat, while competition for orders and on price remained severe, partly due to the impact of labor shortages.」

「Amid concerns about the impact of trade issues in various countries, the outlook for the economy remained uncertain. In the plant engineering industry, public investment remained firm and private-sector capital investment showed signs of growth against a backdrop of strong corporate earnings. However, competition for orders and on price remained severe, partly due to the impact of labor shortages.」

「In the plant engineering industry, public investment remained firm, while private-sector capital investment showed signs of growth against a backdrop of strong corporate earnings. However, competition for orders and on price remained severe, partly due to the impact of labor shortages.」

「In the plant engineering industry, public investment remained firm and private-sector capital investment showed signs of growth, but the overall trend remained flat, while competition for orders and on price continued to be severe.」

「In the plant engineering industry, public investment remained firm and private-sector capital investment was expected to move from recovery toward growth, but the overall trend remained flat, while competition for orders and on price continued to be severe.」

「In the plant engineering industry, public investment remained firm and private-sector capital investment showed signs of recovery, but the overall trend remained flat, while competition for orders and on price continued to be severe.」

「In the plant engineering industry, capital investment was expected to increase moderately as the performance of private-sector manufacturers improved. However, companies' investment sentiment had not improved, and large-scale capacity expansion investment remained sluggish. Against a backdrop of aging facilities and labor shortages, investment was concentrated on small- and medium-sized projects, including maintenance and replacement, rationalization and labor-saving measures, such as robotics, and research and development. The order environment is therefore expected to become increasingly challenging.」

「In the plant engineering industry, public investment showed signs of recovery, while private-sector capital investment remained generally flat due to companies' cautious stance, and competition for orders and on price remained severe.」

「In the plant engineering industry, both public investment and private-sector capital investment showed signs of recovery, but the overall trend remained flat, and competition for orders and on price continued to be severe.」

「In the plant engineering industry, public investment was on a declining trend, while private-sector capital investment remained generally flat despite improving corporate earnings, and competition for orders and on price remained severe.」

「The plant engineering industry is highly susceptible to domestic and overseas economic conditions and geopolitical developments. If the domestic and overseas economies remain sluggish, leading to restrained capital investment by governments and companies and continued declines in order prices due to intensifying competition for orders, this could affect the performance of the Group.」