Uncertainty Surrounding Overseas Economies Due to Protectionist Policies and Trade Friction

「To accelerate business expansion even under these conditions, we will work to develop products and stores tailored to each market in which we have built experience, including reviewing store-opening areas in response to changes in trading areas and expanding openings of the halal-format Ramen Mania, while further strengthening our brand globally.」

「The uncertain outlook continues, including concerns about an economic slowdown caused by global inflation resulting from tariff policies implemented by the new US administration.」

「The global economy during the current consolidated fiscal year remained uncertain, with concerns over an economic slowdown caused by soaring raw material and energy prices resulting from the situations involving Russia and Ukraine and Israel and Palestine, rising labour costs due in part to a declining working population, and monetary tightening in response to persistent global inflation.」

「The global economy during the cumulative first quarter under review remained uncertain, amid higher raw material and energy prices resulting from the Russia-Ukraine situation, higher labor costs due to the declining working-age population, and concerns about an economic slowdown caused by monetary tightening accompanying persistent global inflation.」

「A range of destabilizing factors continues to coexist, including higher raw material and energy prices resulting from the Russia-Ukraine situation since February 2022, rising global inflation, the rapid depreciation of the yen, higher labor costs due to the declining working-age population, and the failure of financial institutions in the United States in March 2023 stemming from monetary policy.」

「In addition, various sources of instability continue to coexist, including higher raw material and energy prices resulting from the situation in Russia and Ukraine, rising global inflation, the rapid depreciation of the yen, and higher labor costs due to the declining working-age population.」

「A range of destabilizing factors continues to coexist, including rising global inflation, higher labor costs due to the declining working-age population, and the growing risk of stagflation in some regions.」

「During the consolidated fiscal year, the global economy was gradually returning to normal economic activity as COVID-19 vaccinations progressed. However, conditions remained uncertain, as the spread of variants more transmissible than previous strains became a new source of concern. In addition, raw-material and energy prices rose because of geopolitical risks stemming from the situation involving Russia and Ukraine, tensions between the United States and China, and other factors」

「At present, infections involving the Omicron variant are beginning to resurge, making the outlook uncertain. At the same time, measures have been introduced to prevent economic activity from stagnating, including requiring proof of vaccination for travel and entry to facilities and stores, and economic activity is gradually resuming as a result.」

「At present, because of the impact of COVID-19, economic activity has not fully resumed in many countries and regions, including the United States and Europe, and conditions remain uncertain.」

「Even before the effective shutdown of economies in various countries caused by the global spread of COVID-19, there were numerous factors of concern regarding the economic outlook, including the impact on the economy of trade friction involving Europe, China and other regions stemming from U.S. protectionist economic policies, the economic environment resulting from the UK's withdrawal from the EU, and civic movements observed in Hong Kong, France and elsewhere.」

「Overseas, heightened uncertainty in political and economic conditions, including the U.S.-China trade dispute, the UK's withdrawal from the EU and prolonged demonstrations in Hong Kong, has slowed production and consumption in multiple regions, leaving concerns about the outlook.」

「Uncertainty in overseas political and economic conditions remains high because of the trade dispute between the United States and China, the UK's withdrawal from the EU, and prolonged demonstrations in Hong Kong, among other factors, leaving concerns about the outlook.」

「Overseas, uncertainty remains over the economic outlook because of trade friction involving Europe, China and other regions stemming from U.S. protectionist policies, as well as the issue of the UK's withdrawal from the EU.」

「Overseas, the outlook for the economy has become uncertain because of trade friction with Europe, China and other regions stemming from U.S. protectionist policies.」