Risks of Natural Disasters and Political and Economic Changes in Raw Material-Sourcing and Sales Countries

「As the impact of U.S. tariff policy becomes evident in the global economy, uncertainty about the outlook continues amid fluctuations in resource prices, including crude oil prices, due to trends in monetary policy and geopolitical risks.」

「In the global economy, the impact of US tariff policies is gradually becoming apparent, central banks' monetary policy trends are being closely watched, and geopolitical risks persist, leaving the outlook uncertain.」

「In the global economy, central banks' monetary policies in response to price trends in various countries are being closely watched, while the outlook remains uncertain due in part to the impact of geopolitical risks.」

「In the global economy, central banks' decisions on interest-rate hikes in response to price trends in various countries are being closely watched, while the prolonged Russian invasion of Ukraine and heightened tensions in the Middle East have left the outlook uncertain.」

「In the global economy, prices are trending upward in various countries, and central banks, led by the US Federal Reserve, have entered a rate-hiking cycle. In addition, the outlook remains uncertain due to factors including the prolonged Russian invasion of Ukraine and changes in financial market conditions.」

「In the global economy, prices are trending upward in various countries, and central banks, led by the US Federal Reserve, have entered a rate-hiking cycle. In addition, the outlook remains uncertain due to factors including the prolonged Russian invasion of Ukraine and uncertainty regarding trends in COVID-19 infections.」

「In the global economy, prices are trending upward in various countries, and central banks, led by the US Federal Reserve, have entered a rate-hiking cycle. In addition, the outlook remains uncertain due to factors including the prolonged Russian invasion of Ukraine and uncertainty regarding trends in COVID-19 infections.」

「The outlook remains uncertain due in part to uncertainty regarding trends in COVID-19 infections and the prolonged situation in Ukraine.」

「Although economic conditions are recovering in countries such as the United States and China where vaccination programs are progressing, the outlook remains uncertain due to factors including the emergence of new virus variants and rising geopolitical risks resulting from the situation in Ukraine.」

「As a response, the Group is working to diversify risk by expanding its trading regions for both imports and exports.」

「During the nine-month period of the third quarter of the current consolidated fiscal year, the Japanese economy experienced a slowdown in exports against the backdrop of US-China trade friction, while personal consumption declined due in part to the consumption tax rate increase from October. In addition, the global economy remained highly uncertain, with the Chinese economy slowing due in part to the impact of trade friction and geopolitical risks in the Middle East.」

「Amid intensifying US-China trade friction and the continuing issue of the UK's exit from the EU, the global economy remains in a highly uncertain environment.」

「As the impact of intensifying US-China trade friction on the economies of various countries has begun to emerge, and with the UK's exit from the EU also remaining an issue, the global economy continues to face a highly uncertain environment.」

「Although the global economy is on a gradual recovery path, the outlook remains uncertain due to factors including intensifying trade friction triggered by US protectionist trade policies and the UK's exit from the EU, raising concerns about the impact on the Japanese economy.」

「Although the global economy is on a gradual recovery path, the outlook remains uncertain due to factors including intensifying trade friction triggered by US protectionist trade policies and movements in financial markets, raising concerns about the impact on the Japanese economy.」

「Although the global economy is on a gradual recovery path, concerns over geopolitical risks in Northeast Asia and the rise of protectionism centered on the United States have left the outlook uncertain.」

「However, concerns over geopolitical risks in Northeast Asia have not been dispelled, and the outlook for the global economy remains uncertain.」

「However, concerns over geopolitical risks in Northeast Asia and the US administration's economic policies have not been dispelled, and the outlook for the global economy remains uncertain.」

「Accordingly, events such as natural disasters, terrorism, war, or major changes in political and economic conditions in countries with which the Company is involved could affect the Company's operating results and financial condition.」

「The trend toward a stronger yen and lower share prices has continued due to the UK's exit from the EU and economic downturns in emerging Asian countries, including China, and the outlook remains uncertain.」

「Following the UK's confirmed withdrawal from the EU and other developments, uncertainty in international financial markets has continued to intensify. The trend toward a stronger yen and lower share prices has continued unabated, leaving the outlook uncertain.」

「If an event such as a natural disaster, terrorist attack, war or major political or economic upheaval occurs in a country relevant to the Company, it may affect the Company's business performance and financial condition.」