Risk of fluctuations in rice, agricultural and livestock product, and crude oil prices, among others

「The business environment surrounding the Group remains challenging, owing to rising raw material prices and labor costs and consumers’ increasingly strong preference for saving.」

「The business environment surrounding the Group remains challenging, owing to persistently elevated raw material and energy prices and consumers’ increasingly strong preference for saving.」

「The business environment surrounding the Group remains challenging, owing to factors including persistently elevated raw material and energy prices, inflation and subdued consumer sentiment caused by these concerns.」

「The business environment surrounding the Group remains challenging, owing to factors including persistently elevated raw material and energy prices, inflation and subdued consumer sentiment caused by these concerns.」

「The business environment surrounding our Group remains challenging, as rising commodity prices caused by surging raw-material and energy prices have further strengthened consumers' preference for saving and low prices.」

「The principal raw materials are agricultural and livestock products such as rice and vegetables, and their purchase prices are significantly affected by commodity market prices. In addition, the purchase prices of some raw materials may fluctuate due to external factors such as adverse weather, geopolitical risk and foreign exchange rates.」

「In terms of costs, labor costs have increased due to labor shortages, while raw-material and energy prices have continued to surge. To absorb these increases, we actively proposed new products in anticipation of higher raw-material prices and continued to review procurement methods for key ingredients.」

「The business environment surrounding our Group remains challenging, with continued surges in raw-material and energy prices while the Group is required to respond to changes in consumer demand amid the COVID-19 pandemic.」

「Estimates are based on the assumption that raw-material prices and other prices will surge or remain high due to the situation in Ukraine and other factors. There have been no material changes to the assumptions made at the end of the previous consolidated fiscal year.」

「In terms of costs, labor costs increased due to labor shortages, while prices of raw materials, including cooking oils and meat, and fuel prices continued to rise. To absorb these increases, we continued to review the Purchasing Department's procurement methods for key ingredients, reduced the number of processed food items, improved quality and productivity through mechanization, and reviewed manufacturing expenses across plants.」

「Although labor costs increased due to staff shortages and raw material prices, including those of oils and meat, rose, in order to absorb these increases we continued to review procurement methods for key food ingredients through the procurement department, reduce the number of prepared and processed food items, improve quality and productivity through mechanization, and conduct cross-functional reviews of manufacturing expenses across plants.」

「Although prices of oils and meat have risen sharply, in order to absorb these increases we have continued to review procurement methods for key food ingredients through the procurement department, reduce the number of prepared and processed food items, improve quality and productivity through mechanization, and conduct cross-functional reviews of manufacturing expenses across plants.」

「Although prices of oils and meat have risen sharply, in order to absorb these increases we have continued to review procurement methods for key food ingredients through the procurement department, reduce the number of prepared and processed food items, improve quality and productivity through mechanization, and conduct cross-functional reviews of manufacturing expenses across plants.」

「In terms of costs, prices for milled rice and other items have remained high, but we are working to reduce costs by reviewing the Purchasing Department's procurement methods for meat, vegetables and other items」

「In terms of costs, prices for milled rice and other items have remained high, but we worked to reduce costs by reviewing the Purchasing Department's procurement methods for meat, vegetables and other items. In response to higher labor costs caused by labor shortages, we also pursued labor-saving measures through proactive capital investment.」

「In terms of costs, prices for milled rice and other items have remained high, but we are working to reduce costs by reviewing the Purchasing Department's procurement methods for meat, vegetables and other items」

「Although prices of raw materials, including milled rice, increased, we sought to reduce costs by reviewing procurement methods for chicken, pork and other items purchased in large quantities.」

「Although prices of raw materials, including milled rice, increased, we sought to reduce costs by reviewing procurement methods for chicken, pork and other items purchased in large quantities.」

「Although prices of raw materials, including milled rice, increased, we sought to reduce costs by reviewing procurement methods for chicken, pork and other items purchased in large quantities.」

「This was mainly due to increases in the prices of raw materials such as milled rice, chicken and nori, as well as higher labor costs resulting from labor shortages. However, we actively pursued initiatives to contain cost increases, including reviewing raw-material procurement methods, consolidating product items, integrating similar ingredients, reviewing production processes and reducing labor requirements through machinery and equipment.」

「In terms of costs, there were increases in the prices of raw materials such as milled rice, chicken, nori and vegetables, as well as higher labor costs resulting from labor shortages, but」

「In terms of costs, there were increases in the prices of raw materials such as milled rice, chicken and nori, as well as higher labor costs resulting from labor shortages, but」

「In terms of costs, there were increases in the prices of raw materials such as milled rice and nori, as well as higher labor costs resulting from labor shortages, but」

「There were increases in the prices of raw materials such as milled rice and nori, as well as a decline in productivity caused by labor shortages.」

「In terms of costs, we actively pursued initiatives to contain cost increases, including integrating similar ingredients, reducing waste, and reducing the workforce required through capital investment. However, we faced higher prices for raw materials such as rice and nori, as well as lower productivity caused by labour shortages.」

「In terms of costs, we actively pursued initiatives to contain cost increases, including integrating similar ingredients, reducing waste, and reducing the workforce required through capital investment. However, we faced higher prices for raw materials such as rice and nori, as well as lower productivity caused by labour shortages.」

「In terms of costs, we faced higher prices for raw materials such as rice and nori, as well as lower productivity caused by labour shortages. However, we actively pursued initiatives to contain cost increases, including integrating similar ingredients, reducing waste, and reducing the workforce required through capital investment.」

「The principal raw materials used in our Group's products are agricultural and livestock products such as rice and vegetables, and their purchase prices are significantly affected by commodity market prices. In addition, the purchase prices of some raw materials may fluctuate due to external factors such as crude oil prices.」