Overseas Economic Slowdown, Foreign Exchange Markets and Equity Market Instability

「Meanwhile, household purchasing power has been affected by continued inflation, and the outlook remains uncertain due to overseas economic conditions, exchange rates, fluctuations in the financial and capital markets, and the impact of U.S. trade policy.」

「Geopolitical risks have risen sharply, particularly as relations between the United States and China, the Russia-Ukraine war and instability in the Middle East have increased uncertainty in the global economy.」

「Downside risks to the global economy, including the impact of global monetary tightening, rising prices and volatility in financial and capital markets, have not been eliminated, and the outlook remains uncertain.」

「The company continues to face uncertainty, including rising energy and raw material prices, soaring prices and accelerating yen depreciation associated with the prolonged situation in Ukraine, and the outlook remains uncertain.」

「During the second quarter of the current consolidated cumulative period, although Japan's economy continued to be affected by COVID-19, signs of recovery in socioeconomic activity emerged as restrictions on activity were eased. However, uncertainty continued in Japan and overseas as prices continued to rise due to the prolonged situation in Ukraine, while the trend of rapid yen depreciation changed following the expansion of the permitted fluctuation range for long-term interest rates.」

「The global outlook remains uncertain due to the emergence and spread of COVID-19 variants, a sharp increase in geopolitical risks including those between Ukraine and Russia, and the resulting acceleration in inflation and yen depreciation.」

「Although the COVID-19 pandemic temporarily appeared to subside and economic normalisation was beginning to progress, various activities were restricted again following the emergence of the Omicron variant. This coincided with the emergence of geopolitical risks, including Russia's invasion of Ukraine, and a global surge in raw material prices, resulting in worsening economic sentiment.」

「The global outlook remains uncertain amid rising geopolitical risks, including Russia's invasion of Ukraine.」

「During the current consolidated fiscal year, Japan's employment and income environment became more challenging against the backdrop of the prolonged spread of COVID-19. Although some Western countries showed signs of improving economic sentiment as vaccination rates increased, in Asian countries including Japan there was still no clear prospect of containing the infections, and the outlook remained uncertain.」

「From the third quarter onward, the spread of COVID-19 affected all economic activity, including imports and exports, forcing the global economy to slow.」

「Concerns over an economic downturn spread as the decline in consumption following the consumption tax rate increase coincided with the impact on the real economy of the global spread of COVID-19. Overseas, US-China trade friction and the UK's withdrawal from the EU remained ongoing, further increasing uncertainty about the outlook for the global economy.」

「Although uncertainty in overseas economies and geopolitical concerns have increased due to trade issues between countries and volatility in the US stock market,」

「Uncertainty surrounding overseas economic and policy developments, including negotiations over the UK's withdrawal from the EU and trade issues between the United States and China, continues to weigh on the outlook for the economy.」

「Meanwhile, the global economy remained uncertain due to political and economic developments, including political instability in Europe and trade friction between the United States and China.」

「During the current consolidated fiscal year, Japan's economy improved as a moderate recovery continued, driven mainly by domestic demand such as corporate capital investment and personal consumption. However, concerns spread over the uncertain outlook for the global economy, including China, amid concerns over trade friction resulting from US trade policy.」

「Amid this business environment, the Group sought to increase overall Group earnings by focusing on improving content and diversifying payment methods, while also actively reviewing costs in each business division. Sales increased year on year in the fortune-telling content, media and other businesses. However, at subsidiary ルイスファクトリー, sales have been recorded net of fees and other deductions from the subsidiary's sales since the first quarter of the consolidated fiscal year, and the Group failed to secure titles newly transferred for operation. As a result, the Group's sales decreased year on year.」

「During the second quarter of the current consolidated cumulative period, Japan's economy continued to recover moderately against a backdrop of improving corporate earnings and employment conditions. However, concerns remain about the impact on the Japanese economy of developments in China and South Korea and US monetary policy, and the outlook remains uncertain.」

「Concerns over downside risks to the economies of China and other emerging markets, as well as the impact of the new US administration's policies on the global economy, remain, and the outlook continues to be uncertain.」

「Meanwhile, China's economy is experiencing a pronounced slowdown due to factors including declining exports, while in the United States long-term interest rates have risen since the inauguration of the new president, leaving the global outlook uncertain.」

「Uncertainty remains in overseas economic conditions, particularly in China and emerging Asia, creating a risk of downward pressure on the Japanese economy. The outlook therefore remains uncertain.」

「Overseas economies remain uncertain, with the outlook for the European economy clouded by refugee issues, frequent terrorist attacks and the UK's withdrawal from the EU. In addition, concerns over economic stagnation remain, including as a result of slowing economies in emerging markets such as China.」

「Amid concerns over slowing overseas economies, including China and emerging markets, movements in the foreign exchange and stock markets have become increasingly unstable, and the outlook remains uncertain.」