Uncertain Business Outlook Due to Overseas Economic Instability and Financial Market Volatility

「The outlook remains uncertain because of high domestic inflation, elevated raw-material and energy prices associated with geopolitical risks arising from the international situation, US policy trends and the impact of global financial and capital markets.」

「The outlook remains uncertain because of high domestic inflation, elevated raw-material and energy prices associated with geopolitical risks arising from the international situation, US policy trends and the impact of global financial and capital markets.」

「Meanwhile, prices continue to rise due to prolonged international instability, higher raw material prices and foreign-exchange effects, and the outlook remains uncertain.」

「Meanwhile, a downturn in overseas economies, including foreign-exchange volatility, surging raw material and energy prices, and concerns over the outlook for China's economy, poses a downside risk to the economy. Sufficient attention is also considered necessary with regard to the effects of rising prices, the situation in the Middle East and volatility in financial and capital markets.」

「Meanwhile, the outlook remains uncertain as global monetary tightening, concerns over the outlook for China's economy and rising prices are prompting consumers to become more budget-conscious.」

「Meanwhile, the outlook remains uncertain due to the prolonged Russia-Ukraine situation, surging raw material and energy costs, and rapid foreign-exchange volatility, including the depreciation of the yen.」

「However, as global monetary tightening and other factors continue, a downturn in overseas economies poses a downside risk to Japan's economy. In addition, changes in society are accelerating due to rising prices, supply constraints and volatility in financial and capital markets, among other factors, and companies are required to respond to change more effectively than ever.」

「Meanwhile, there is still no end in sight to the prolonged Russia-Ukraine situation, the economic downturn accompanying global monetary tightening, or soaring energy, food and other raw material prices, and the outlook remains uncertain.」

「During the first 3 quarters of the fiscal year under review (1 December 2021 to 31 August 2022), domestic mobility increased and economic activity gradually resumed as restrictions on activity related to COVID-19 were eased. On the other hand, the outlook remains uncertain, amid concerns over the rapid depreciation of the yen caused by rising US interest rates, higher resource prices resulting from the situation in Ukraine, and sluggish personal consumption accompanying rising prices.」

「The outlook for the economy is becoming increasingly uncertain due to foreign-exchange volatility caused by the sharp depreciation of the yen, the prolonged Russia-Ukraine situation and surging energy and raw material prices.」

「The difficult situation continues, including the renewed spread of COVID-19 caused by the Omicron variant, rising tensions surrounding Ukraine and surging global raw material prices.」

「In particular, as the impact of the spread of COVID-19 across countries and its prolongation continued, declarations of a state of emergency, the application of priority preventive measures and requests to refrain from going out in Japan triggered a sharp contraction in consumer spending and employment concerns, creating conditions in which the risk of a major economic recession was a concern.」

「In the retail industry, consumers increasingly favored saving, while hygiene-related products and stay-at-home consumption-related products performed well. Depending on progress in vaccinations, however, it was necessary to pay close attention to the impact of infection trends on the economy.」

「During the first quarter of the fiscal year under review (1 December 2020 to 28 February 2021), Japan's economy remained in a severe situation due to the impact of the spread of COVID-19, although a gradual recovery continued. However, sentiment deteriorated rapidly following the reissuance of the state of emergency.」

「In Japan as well, there is still no clear prospect of bringing the outbreak under control, and it remains necessary to monitor the impact of the spread of infections. The situation remains extremely uncertain.」

「Although signs of a gradual recovery emerged after the state of emergency was lifted, the period remained extremely uncertain, as continued attention was required regarding the impact of the spread of infection.」

「However, in addition to the impact of successive natural disasters and uncertain overseas conditions, including US-China trade friction, the worldwide spread of COVID-19 that became apparent in the latter half of the period caused the global economy to stagnate, domestic consumer sentiment to deteriorate rapidly and exports to decline rapidly, while weakness in employment and income conditions deepened, leaving the situation unpredictable.」

「The outlook remains uncertain due to the stagnation of the global economy resulting from the worldwide spread of COVID-19 and changes in domestic consumer sentiment.」

「The situation remains uncertain due to the impact of rising tensions over trade issues on the global economy, uncertainty surrounding overseas economic conditions and policies, and the impact of volatility in financial and capital markets.」

「The situation remains uncertain due to the impact of developments in trade issues on the global economy, uncertainty surrounding overseas economic conditions and policies, and the impact of volatility in financial and capital markets.」

「While employment and income conditions continue to improve and personal consumption and capital investment are recovering partly because of the effects of various policies, concerns remain about the impact of an unstable international situation and financial and capital markets on the domestic economy, and weakness is expected to persist for the time being.」

「During the second quarter of the current consolidated cumulative period, the Japanese economy remained on a moderate recovery trend overall, as corporate earnings and employment conditions improved against the backdrop of government economic and employment policies, although the outlook remained uncertain because of U.S. economic policies, political conditions in the United States and Europe, and concerns about geopolitical risks.」

「The outlook remained uncertain because of the economic policies of the U.S. administration and the presence of geopolitical risks arising from an unstable international situation.」

「The outlook remains uncertain because of geopolitical risks, uncertainty in overseas economies, including China and other emerging Asian economies, the policies of the United States and Europe, and fluctuations in financial and capital markets.」

「However, the outlook remains uncertain because of uncertainty surrounding overseas economies and the uncertain impact of fluctuations in financial and capital markets.」

「The outlook has become extremely difficult to assess because of concerns about instability in overseas economies and uncertainty over the impact of financial market volatility.」