Uncertainty in Overseas Economies, Economic Downturn and Impact of the Kumamoto Earthquake

「海外事業には一定の不確実性が存在しております。海外のゲーム業界では M&A や事業再編、人員削減等が頻繁に発生しており、顧客企業の方針変更によって外注需要が変動する可能性もあると認識しております。」

「During the interim consolidated accounting period, Japan's economy followed a moderate recovery trend against a backdrop of improving corporate earnings and employment conditions. However, it remained in an uncertain outlook due to concerns about the impact of Bank of Japan monetary policy normalization, including policy rate hikes, continued price increases, and trends in overseas economies.」

「Regarding the Group’s sites in the Kyushu region—Hakata, Kitakyushu, Oita and Saga—our information gathering has confirmed that, at present, there has been no loss of life or damage to facilities caused by the earthquake.」

「Looking at the global economy, uncertainty continued in the US regarding the timing of a shift in monetary policy, while in Europe, energy price volatility associated with prolonged geopolitical risks affected corporate activity. In Asia, China's economic slowdown became increasingly pronounced, with weakening demand, particularly in the manufacturing sector. In addition, sufficient attention must continue to be paid to financial and capital market volatility in light of the recent situation in the Middle East and developments in US trade policy.」

「During the interim consolidated accounting period, Japan's economy was expected to continue recovering moderately as employment and income conditions improved and various policies took effect. However, attention must be paid to the risk of an economic downturn caused by the impact of US trade policy. In addition, the continued rise in prices posed a risk of putting downward pressure on Japan's economy through its impact on private consumption, including a decline in consumer sentiment. Greater attention must also be paid to the impact of financial and capital market volatility and other factors.」

「Sufficient attention must also be paid to the impact of rising prices, developments in US policies including trade policy, conditions in the Middle East, financial and capital market volatility, and other factors.」

「During the interim consolidated accounting period, Japan's economy was expected to continue recovering moderately as employment and income conditions improved and various policies took effect. However, a downturn in overseas economies, including the impact of continued high interest rates in the US and Europe and continued stagnation in China's real estate market, posed a risk of putting downward pressure on Japan's economy. Sufficient attention must also be paid to rising prices, conditions in the Middle East, and financial and capital market volatility.」

「In addition, sufficient attention must be paid to the impact of the 2024 Noto Peninsula Earthquake on the economy.」

「The downturn in overseas economies, including the impact of global monetary tightening and concerns about China's economic outlook, poses a risk of putting downward pressure on Japan's economy. Sufficient attention must also be paid to the impact of rising prices, conditions in the Middle East, financial and capital market volatility, and other factors.」

「Under the new normal of living with COVID-19, Japan's economy was expected to recover as various policies took effect. However, amid continued global monetary tightening and other factors, a downturn in overseas economies posed a risk of putting downward pressure on Japan's economy. Sufficient attention must also be paid to rising prices, supply-side constraints, and financial and capital market volatility.」

「Amid continued global monetary tightening and other factors, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. Sufficient attention must also be paid to the impact of rising prices, supply-side constraints, financial and capital market volatility, and the spread of the infection in China.」

「During the cumulative third quarter of the fiscal year, Japan's economy was expected to recover as the transition to a new stage of living with COVID-19 progressed and various policies took effect. However, amid continued global monetary tightening and other factors, a downturn in overseas economies posed a risk of putting downward pressure on Japan's economy. Sufficient attention must also be paid to the impact of rising prices, supply-side constraints, financial and capital market volatility, and other factors.」

「During the cumulative second quarter of the fiscal year, Japan's economy was expected to recover as measures to contain the novel coronavirus disease (COVID-19; hereinafter, the infection) were fully implemented and economic and social activity moved toward normalization, supported by the effects of various policies. However, sufficient attention must be paid to the risk of a downturn resulting from financial and capital market volatility amid global monetary tightening, higher raw material prices, supply-side constraints, and other factors.」

「Amid uncertainty caused by the situation in Ukraine and other factors, sufficient attention must be paid to the risk of a downturn resulting from higher raw material prices, financial and capital market volatility, and supply-side constraints. The impact of the infection must also be closely monitored.」

「Under these economic conditions, in the markets related to the Group's main debugging and verification business, the video game software market expanded as people refrained from going out amid the global spread of the infection, while the hardware market was affected by semiconductor shortages. Meanwhile, in the markets related to the network support business, the e-commerce and cashless payment markets, which likewise provide services without face-to-face contact or physical contact, expanded.」

「During the cumulative second quarter of the fiscal year, Japan's economy was expected to continue showing signs of recovery as measures were taken to prevent the spread of the novel coronavirus disease (COVID-19; hereinafter, the infection) and vaccination was promoted, supported by the effects of various policies and improvements in overseas economies. However, sufficient attention must be paid to the impact of infection trends on domestic and overseas economies, and the impact of financial and capital market volatility and other factors must be closely monitored.」

「During the cumulative first quarter of the fiscal year, Japan's economy was expected to continue showing signs of recovery as measures were taken to prevent the spread of the novel coronavirus disease (COVID-19; hereinafter, the infection), supported by the effects of various policies and improvements in overseas economies. However, sufficient attention must be paid to the increasing risk of a downturn caused by the spread of the infection in Japan and overseas, and the impact of financial and capital market volatility and other factors must be closely monitored.」

「During the cumulative third quarter of the fiscal year, Japan's economy was expected to continue showing signs of recovery as social and economic activity was increased while measures were taken to prevent the spread of the novel coronavirus disease (COVID-19; hereinafter, the infection), supported by the effects of various policies and improvements in overseas economies. However, it is necessary to closely monitor the impact of infection trends in Japan and overseas and financial and capital market volatility.」

「During the cumulative second quarter of the fiscal year, Japan's economy was expected to continue showing signs of recovery as social and economic activity was gradually raised while measures were taken to prevent the spread of the novel coronavirus disease (COVID-19; hereinafter, the infection), supported by the effects of various policies. However, sufficient attention must be paid to the infection's impact on domestic and overseas economies. Close attention must also be paid to the economic impact of the torrential rains in July and other events, as well as financial and capital market volatility.」

「During the cumulative first quarter of the fiscal year, Japan's economy was expected to remain in an extremely severe condition due to the impact of the novel coronavirus disease (COVID-19; hereinafter, the infection). Sufficient attention must be paid to the risk that the infection could further weaken domestic and overseas economies. It is also necessary to closely monitor financial and capital market volatility and other factors.」

「During the fiscal year, Japan's economy was expected to continue recovering moderately, although weakness was expected to persist for the time being, as employment and income conditions continued to improve and various policies took effect. However, attention must be paid to the impact of developments surrounding trade issues, China's economic outlook, the UK's exit from the EU, overseas economic trends including conditions in the Middle East, and financial and capital market volatility, as well as trends in consumer sentiment following the consumption tax rate increase.」

「During the cumulative third quarter of the fiscal year, Japan's economy was expected to continue recovering moderately, although weakness was expected to persist for the time being, as employment and income conditions continued to improve and various policies took effect. However, attention must be paid to the impact of tensions over trade issues, China's economic outlook, overseas economic trends including the course of the UK's exit from the EU, and financial and capital market volatility, as well as trends in consumer sentiment following the consumption tax rate increase.」

「During the cumulative second quarter of the fiscal year, Japan's economy was expected to continue recovering moderately, although weakness was expected to persist for the time being, as employment and income conditions continued to improve and various policies took effect. However, closer attention must be paid to the impact of developments in trade issues on the global economy, as well as to China's economic outlook, uncertainty surrounding overseas economic trends and policies, and the impact of financial and capital market volatility.」

「It is necessary to remain mindful of the impact of trade issues on the global economy, the outlook for the Chinese economy, uncertainty regarding overseas economic conditions and policies, and volatility in financial and capital markets.」

「Japan's economy during the current consolidated fiscal year was expected to continue recovering moderately, supported by the effects of various policies amid continued improvement in employment and income conditions, but it was necessary to remain mindful of the impact of trade issues on the global economy, uncertainty in overseas economies, including the outlook for the Chinese economy, and volatility in financial and capital markets.」

「It is also necessary to remain fully mindful of the economic impact of the successive natural disasters.」

「Japan's economy during the second quarter of the current cumulative consolidated period was expected to continue recovering moderately, supported by the effects of various policies amid continued improvement in employment and income conditions, but it was necessary to remain mindful of the impact of trade issues on the global economy, uncertainty in overseas economies, and volatility in financial and capital markets. It was also necessary to remain fully mindful of the economic impact of the heavy rains in July 2018.」

「Japan's economy during the first quarter of the current cumulative consolidated period was expected to continue recovering moderately, supported by the effects of various policies amid continued improvement in employment and income conditions, but it was necessary to remain mindful of the impact of uncertainty in overseas economies and volatility in financial and capital markets.」

「Japan's economy during the third quarter of the current cumulative consolidated period was expected to continue recovering moderately, supported by the effects of various policies amid continued improvement in employment and income conditions, but it was necessary to remain mindful of the impact of uncertainty in overseas economies and volatility in financial and capital markets.」

「Japan's economy during the second quarter of the current cumulative consolidated period was expected to continue recovering moderately, supported by the effects of various policies amid continued improvement in employment and income conditions, but it was necessary to remain mindful of the impact of uncertainty in overseas economies and volatility in financial and capital markets.」

「Japan's economy during the first quarter of the current cumulative consolidated period was expected to continue recovering moderately, supported by the effects of various policies amid continued improvement in employment and income conditions, but it was necessary to remain mindful of the impact of uncertainty in overseas economies and volatility in financial and capital markets.」

「It is necessary to remain mindful of the impact of uncertainty in overseas economies and volatility in financial and capital markets.」

「The overseas economy has shown weakness, creating a risk that an economic downturn in emerging Asian countries, including China, could put downward pressure on Japan's economy. In this context, it is necessary to remain mindful of the impact of increasing uncertainty in overseas economies, including the UK's withdrawal from the EU, and volatility in financial and capital markets.」

「The overseas economy has shown weakness, creating a risk that an economic downturn in emerging Asian and resource-producing countries, including China, could put downward pressure on Japan's economy. In this context, it is necessary to remain mindful of the impact of increasing uncertainty in overseas economies, including the UK's withdrawal from the EU, and volatility in financial and capital markets, as well as the economic impact of the 2016 Kumamoto Earthquake.」