Uncertainty caused by economic slowdowns in emerging and resource-rich countries and conditions in Europe

「Meanwhile, the outlook remained uncertain due to continued price increases and volatility in the financial and capital markets, as well as the impact of heightened tensions in the Middle East on energy prices and logistics costs.」

「During the fiscal year, Japan's economy remained on a gradual recovery trend, supported by inbound demand and improvements in the employment environment. However, it remained uncertain due to declining real wages resulting from rising prices, developments in US tariff policies, the situation in the Middle East and other factors.」

「Long-term interest rates continued to rise, while prices also continued to rise as a result of higher energy and material prices and delivery costs caused by the problems surrounding Ukraine and the Middle East and the yen's depreciation, and the outlook remained uncertain.」

「During the first 2 quarters of the current fiscal year (1 July 2023 to 31 December 2023), economic activity in Japan was moving toward normalization following the lifting of restrictions on activity related to the novel coronavirus infection. However, uncertainty over the outlook persisted due to the prolonged situations in Ukraine and the Middle East, while energy and material prices remained high and prices continued to rise as a result of higher delivery costs caused by the yen's depreciation, along with developments in the shipping situation.」

「During the first quarter of the current fiscal year (1 July 2023 to 30 September 2023), economic activity in Japan was moving toward normalization as restrictions on activity were lifted following the downgrading of COVID-19 to Category 5. However, energy and material prices continued to rise due to the prolonged situation in Ukraine, while prices continued to rise as a result of the yen's depreciation and higher wage and delivery costs, and the outlook remained uncertain due to factors including rising tensions in the Middle East.」

「During the fiscal year, Japan's economy entered a gradual recovery trend as restrictions related to the novel coronavirus infection were eased and socioeconomic activity moved toward normalization. However, the outlook remained uncertain due to soaring resource and raw material prices resulting from the prolonged situation in Ukraine, rising consumer prices and sharp fluctuations in foreign exchange rates.」

「During the first quarter of the current fiscal year (1 July 2022 to 30 September 2022), Japan's economy was gradually recovering as restrictions on activity related to the novel coronavirus infection were eased. However, the outlook remained uncertain due to the sharp increase in infections caused by the seventh wave, soaring energy and material prices resulting from the prolonged situation in Ukraine, and the yen's rapid depreciation.」

「During the first 3 quarters of the current fiscal year, the priority preventive measures against the spread of disease, reintroduced due to the spread of novel coronavirus variants, were lifted in March, and signs of a recovery in economic activity emerged. However, the outlook remained uncertain due to soaring resource prices and logistics disruptions resulting from the situation in Russia and Ukraine.」

「During the first 2 quarters of the current fiscal year, Japan's economy showed signs of a gradual recovery after the repeated states of emergency were fully lifted at the end of September of the previous year in response to the spread of the novel coronavirus infection. However, the outlook remained uncertain due to the rapid spread of variants.」

「During the first quarter of the current fiscal year, Japan's domestic economy remained uncertain as the resurgence of novel coronavirus infections led to repeated declarations and extensions of states of emergency, and continued calls for restraint and restrictions on various economic activities.」

「During the fiscal year, Japan's economy remained in extremely difficult conditions as the stagnation of economic activity caused by the novel coronavirus infection persisted. Although the spread of vaccinations raised hopes for an end to the pandemic, the outlook remained uncertain due to concerns about a renewed spread of infections caused by variants and the impact of semiconductor shortages on the automotive industry.」

「During the first 3 quarters of the current fiscal year, the state of emergency declared in the Tokyo metropolitan and Kansai areas and elsewhere in January 2021 was lifted in March, and some industries, including manufacturing, showed signs of improved performance. However, the outlook remained uncertain due to the spread of variant viruses and other factors.」

「During the first 2 quarters of the current fiscal year, Japan's economy had been gradually, albeit slowly, moving toward recovery following the lifting in April of the previous year of the state of emergency declared in response to the spread of the novel coronavirus infection, supported by economic stimulus measures such as the Go To campaign. However, a sharp increase in infections from the end of the previous year led to the reissuance of states of emergency in the Tokyo metropolitan area and elsewhere, raising concerns about a prolonged economic slowdown, and the outlook remained uncertain.」

「During the first quarter of the current fiscal year, the spread of the novel coronavirus infection caused domestic and overseas economic activity in Japan to stagnate, seriously affecting corporate earnings and employment conditions. Although signs of a gradual recovery emerged after the state of emergency was lifted, concerns about a prolonged economic slowdown persisted, and the operating environment remained uncertain.」

「Since the third quarter, our Group has also been affected by the temporary closure of overseas production plants for brands we handle, delays in product arrivals, fewer visitors and the cancellation or postponement of exhibitions and promotional events, making it difficult to forecast the impact going forward.」

「During the first 3 quarters of the current fiscal year, Japan's economy remained extremely uncertain as the decline in consumer sentiment caused by the consumption tax rate increase and the frequent occurrence of natural disasters such as typhoons, together with the risk of a global pandemic caused by the novel coronavirus, raised concerns about a prolonged economic downturn despite continued gradual improvements in the employment and income environment. Our group was also affected by the closure of overseas production plants for brands it handles, delays in product arrivals, and a decline in customer visits due to requests to refrain from going out, making the outlook difficult to assess.」

「During the first quarter of the current fiscal year, Japan's economy remained on a gradual recovery trend, supported by continued improvements in corporate earnings and the employment and income environment. However, the outlook for the economy remained uncertain due to the prolonged US-China trade friction, the Brexit (the UK's withdrawal from the EU) issue and other factors. In addition, concerns for the imported-vehicle sales industry, including unfavorable weather, natural disasters, the consumption tax rate increase and sluggish personal consumption, remained unresolved.」

「However, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning US-China trade friction and Brexit (the UK's withdrawal from the EU), rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「However, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning US-China trade friction and Brexit (the UK's withdrawal from the EU), rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「However, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning US-China trade friction and Brexit (the UK's withdrawal from the EU), rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「However, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning the protectionist policies of the US administration, soaring crude oil prices, rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「However, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning the protectionist policies of the US administration, rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「Although there are expectations that various policies will be effective, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning the policies of the new US administration, rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「However, the economic outlook remains uncertain due to concerns about a downturn in emerging economies, developments concerning the policies of the new US administration, rising geopolitical risks in Europe, the Middle East and East Asia, and other factors.」

「However, in addition to the impact of economic slowdowns in emerging and resource-exporting economies, the outlook for the economy remains uncertain due to turmoil in Europe stemming from the issue of the United Kingdom's withdrawal from the European Union (EU), concerns about uncertainty surrounding the new administration's economic policies following the US presidential election, rising geopolitical risks in the Middle East, Europe and East Asia, and other factors, while personal consumption also remains sluggish.」

「However, in addition to the impact of economic slowdowns in emerging and resource-exporting economies, the outlook for the economy remains uncertain due to turmoil in Europe stemming from the issue of the United Kingdom's withdrawal from the European Union (EU), concerns about uncertainty surrounding the new administration's economic policies following the US presidential election, and other factors, while personal consumption also remains sluggish.」

「However, in addition to the impact of economic slowdowns in emerging and resource-exporting economies, the outlook for the economy remains uncertain due to turmoil in Europe stemming from the issue of the United Kingdom's withdrawal from the European Union (EU), concerns about the policies of the new administration following the US presidential election, and other factors.」

「In addition to the impact of economic slowdowns in emerging and resource-rich countries, the outlook for the economy remains uncertain due to disruption in Europe stemming from the United Kingdom's withdrawal from the European Union (EU) and other factors.」