Concerns over economic weakness caused by yen appreciation and a stock-market decline

「Meanwhile, the outlook for the economy remains uncertain due to the impact of rising prices on personal consumption, concerns over a slowdown in overseas economies, and uncertainty in the international situation, including U.S. trade policy.」

「Meanwhile, business conditions remained uncertain because of the impact of higher raw material prices resulting from the prolonged situations in Russia and Ukraine and the Middle East, the continuation of high interest rates in Europe and the United States, developments in U.S. trade policy, and sharp exchange-rate fluctuations.」

「Meanwhile, the outlook remains uncertain due to higher crude oil and raw material prices resulting from the yen's depreciation and rising geopolitical risks, including the situations in Ukraine and Israel, as well as concerns over an economic downturn in China.」

「The outlook remains uncertain, owing to higher raw material and crude oil prices resulting from the prolonged situation in Ukraine, as well as concerns over an economic downturn caused by global monetary tightening amid growing inflation concerns.」

「During the first quarter cumulative consolidated period (1 November 2022 to 31 January 2023), Japan's economy remained uncertain, despite a pause in the rapid depreciation of the yen, owing to the impact of COVID-19, surging resource prices resulting from an unstable global situation, and sharp exchange-rate fluctuations.」

「During the current third-quarter cumulative consolidated period from 1 November 2021 to 31 July 2022, Japan's economy remained uncertain due to soaring raw material and crude oil prices resulting from the prolonged situation in Ukraine, rising prices caused by the rapid depreciation of the yen, and the renewed spread of COVID-19.」

「In addition, raw material and crude oil prices rose as the situation in Ukraine became protracted, making the outlook for economic activity uncertain again.」

「The IT services and financial services industries in which our group operates are expected to undergo further digital transformation as new lifestyles become established following the spread of COVID-19.」

「During the consolidated fiscal year from 1 November 2020 to 31 October 2021, Japan's economy remained in severe conditions as rapid deterioration continued due to the renewed spread of infections caused by the emergence of COVID-19 variants. Although economic activity began to recover gradually after the state of emergency was lifted, the outlook remained uncertain due to concerns about a renewed spread of COVID-19.」

「During the current third-quarter cumulative consolidated period from 1 November 2020 to 31 July 2021, COVID-19 showed no sign of subsiding, and domestic economic activity was forced to slow as people refrained from going out following the reissuance of the state of emergency. The outlook remained uncertain due to concerns about rapid changes in economic activity and a renewed spread of infections.」

「During the current second-quarter cumulative consolidated period from 1 November 2020 to 30 April 2021, the impact of COVID-19 continued both in Japan and overseas, including the government's declaration of a state of emergency centered on the Tokyo metropolitan area, and the economy remained uncertain.」

「During the current first-quarter cumulative consolidated period from 1 November 2020 to 31 January 2021, Japan's economy experienced renewed stagnation in economic activity due to the spread of COVID-19. The outlook also remained uncertain, as there was still no prospect of containing the spread of the virus.」

「During the consolidated fiscal year from 1 November 2019 to 31 October 2020, Japan's economy remained on a moderate recovery trend, but after the beginning of the year it faced severe conditions as the rapid deterioration caused by the spread of COVID-19 continued.」

「After the lifting of the state of emergency, economic activity began to recover gradually, but the outlook remained uncertain due to concerns about second and third waves of COVID-19.」

「During the current second-quarter cumulative consolidated period from 1 November 2019 to 30 April 2020, Japan's economy deteriorated as economic activity in various areas was constrained by the worsening US-China trade friction and the global spread of COVID-19.」

「During the current first-quarter cumulative consolidated period from 1 November 2019 to 31 January 2020, Japan's economy continued on a moderate recovery trend. Overseas, however, the outlook remained uncertain due to factors including worsening US-China trade friction and heightened geopolitical risks, particularly in the Middle East and East Asia.」

「During the current third-quarter cumulative consolidated period, Japan's economy continued to recover moderately. Meanwhile, the impact of developments in trade issues on the global economy remained significant, including the prolonged US-China trade friction, and the outlook remained uncertain.」

「At the same time, the impact of developments in trade issues on the global economy remains significant, including the worsening of US-China trade friction, and the outlook remains uncertain.」

「During the current first-quarter cumulative consolidated period, Japan's economy continued to recover moderately. Meanwhile, the global economy remained uncertain, with many concerns including US-China trade friction.」

「During the current third-quarter cumulative consolidated period, Japan's economy continued on a moderate recovery trend, supported by solid corporate earnings and improving employment conditions. At the same time, concerns arose about the impact of trade friction caused by US trade policy and geopolitical risks in various countries, leaving the outlook uncertain.」

「During the consolidated fiscal year, Japan's economy continued on a moderate recovery trend against the backdrop of government economic measures, while concerns about the impact of unstable political developments overseas and geopolitical risks persisted, leaving the outlook uncertain.」

「During the current third-quarter cumulative consolidated period, Japan's economy continued on a moderate recovery trend against the backdrop of government economic measures, while concerns about the impact of unstable political developments overseas and geopolitical risks persisted, leaving the outlook uncertain.」

「During the current second-quarter cumulative consolidated period, Japan's economy continued on a moderate recovery trend against the backdrop of government economic measures. At the same time, concerns arose about the downside impact on the global economy of the UK's departure from the EU, the policies of the new US administration, concerns over a slowdown in the Chinese economy, and heightened geopolitical risks, including the North Korea issue, and the economy remained in an uncertain environment.」

「During the current first-quarter cumulative consolidated period, Japan's economy continued on a moderate recovery trend against the backdrop of government economic measures. At the same time, concerns have arisen about the impact on the global economy of the UK's decision to leave the EU and the policies of the new US administration, making the outlook even more uncertain.」

「During the consolidated fiscal year from 1 November 2015 to 31 October 2016, Japan's economy saw corporate earnings trend toward recovery against the backdrop of the government's economic and monetary policies. At the same time, the outlook for the economy remained uncertain due to factors including the continuing appreciation of the yen and concerns about the European economy associated with the UK's departure from the EU.」

「The outlook for the economy has become even more uncertain amid the continued appreciation of the yen, weakness in equity markets, and concerns about the European economy associated with the UK's departure from the EU.」