Instability in overseas economies due to China's economic slowdown and Brexit

「The outlook is becoming increasingly uncertain due to concerns about the impact of rising consumer prices on consumer sentiment, the impact of U.S. trade policy on domestic industries, and the impact of low-priced products flowing from China into countries in the region amid a slowdown in the Chinese economy. In addition, the external environment surrounding the Group's business became extremely severe due to rising crude oil prices originating from attacks on Iran by the United States and Israel, as well as supply and demand conditions for petroleum-related products.」

「Concerns remain about the impact on consumer sentiment of rising prices, including persistently high rice prices, the impact of U.S. trade policy on domestic industries, and a slowdown in the Chinese economy.」

「At the same time, the impact of global monetary tightening, concerns about the outlook for the Chinese economy, downside risks to overseas economies, rising prices, and developments in the Middle East pose risks, and the outlook remains uncertain.」

「At the same time, the impact of global monetary tightening, concerns about the outlook for the Chinese economy, and downside risks to overseas economies pose risks, and the outlook remains uncertain.」

「At the same time, the outlook remains uncertain due to the impact of global monetary tightening, concerns about the outlook for the Chinese economy, and downside risks to overseas economies.」

「Meanwhile, the outlook remains uncertain due to factors including rising prices, continued yen depreciation and downside risks to overseas economies.」

「At the same time, the outlook remains uncertain due to downside risks to overseas economies, rising prices, and the prolonged situation in Ukraine.」

「During the third quarter of the consolidated fiscal year under review, the Japanese economy experienced rapid yen depreciation and price increases accompanying surging crude oil prices, but corporate earnings, production, and capital investment showed signs of recovery as coexistence with and efforts to overcome COVID-19 progressed. Going forward, a moderate economic recovery is expected as crude oil prices decline and the movement of people recovers, but the outlook remains uncertain due to a renewed spread of COVID-19 and the prolonged situation in Ukraine.」

「During the second quarter of the consolidated fiscal year under review, the Japanese economy faced surging crude oil prices and a prolonged semiconductor shortage, but corporate earnings, production, and capital investment showed signs of recovery as coexistence with and efforts to overcome COVID-19 progressed. Going forward, a moderate economic recovery is expected as the movement of people recovers, but the outlook remains uncertain due to the prolonged situation in Ukraine and price increases caused by the depreciation of the yen.」

「During the first quarter of the consolidated fiscal year under review, the Japanese economy faced surging crude oil prices due to the situation in Ukraine and China's restrictions on economic activity, as well as a prolonged semiconductor shortage. However, as coexistence with and efforts to overcome COVID-19 progressed, corporate earnings, production, and capital investment showed signs of recovery. Going forward, the outlook remains uncertain amid concerns about a prolonged situation in Ukraine and a renewed spread of COVID-19, as well as rising raw material and fuel prices and further depreciation of the yen.」

「During the consolidated fiscal year under review, production and capital investment showed signs of recovery, and corporate earnings also improved amid repeated waves of COVID-19 infections and subsidence. Going forward, the outlook remains unpredictable due to geopolitical risks, including growing tensions surrounding Ukraine, as well as the depreciation of the yen and rising global crude oil prices.」

「During the third quarter of the consolidated fiscal year under review, the Japanese economy showed signs of recovery in corporate earnings, production, and capital investment as COVID-19 temporarily subsided, but conditions remained severe. Going forward, the outlook remains uncertain due to the rapid spread of a sixth wave of infections caused by the Omicron variant, the depreciation of the yen, and rising global crude oil prices.」

「Although a continued recovery in personal consumption is expected following the lifting of the state of emergency, the outlook remains uncertain due to concerns about a sixth wave, the ongoing depreciation of the yen and rising global crude oil prices, among other factors.」

「During the first quarter of the consolidated fiscal year under review, the Japanese economy remained in severe conditions due to the impact of COVID-19, although some sectors showed a recovery in production and capital investment. A recovery is expected to continue as vaccination progresses, but the outlook remains uncertain due to developments in infections, including the spread of the Delta variant.」

「During the consolidated fiscal year under review, personal consumption was beginning to recover, but corporate earnings continued to decline and employment conditions continued to deteriorate due to the spread of COVID-19, leaving the Japanese economy in severe conditions. Although economic activity is also gradually resuming in Japan and overseas, the outlook remains difficult and uncertain amid repeated waves of COVID-19 infections.」

「Although economic activity is gradually resuming in Japan and overseas, the spread of COVID-19 has recently been increasing, and the difficult and uncertain outlook continues.」

「During the first half of the consolidated fiscal year under review, the Japanese economy remained in severe conditions despite government stimulus measures for an economy weakened by the spread of COVID-19, partly because of the spread of a second wave of infections. Although economic activity has also begun to resume in countries around the world, the outlook remains uncertain.」

「In the heavy-duty bags business, overseas revenue declined partly due to operating stoppages caused by the COVID-19 pandemic. Domestic performance was broadly in line with the previous year in existing fields, but revenue increased due to the contribution from 柳沢製袋株式会社, bringing revenue in the heavy-duty bags business to ¥1,469 million, up 9.9% year on year.」

「During the consolidated fiscal year under review, the Japanese economy showed improvements in employment and personal consumption and a recovery in capital investment, and remained on a moderate recovery track. However, in addition to the prolonged U.S.-China trade friction and the United Kingdom's withdrawal from the EU, the global spread of COVID-19 has caused stagnation in the global economy and volatility in financial and capital markets, placing significant downward pressure on economic activity, and conditions remain severe.」

「In the heavy-duty bags business, domestic revenue increased as chemical applications and other existing fields remained solid and sales contributed by 柳沢製袋株式会社 were added. Overseas revenue declined due to the slowdown in the Chinese economy resulting from US-China trade friction and intensifying local market competition. Revenue was ¥4,625 million, up 5.6% year on year.」

「In the heavy-duty bags business, domestic revenue increased as chemical applications and other existing fields remained solid and sales contributed by 柳沢製袋株式会社, acquired through an M&A transaction, were added. Overseas revenue declined due to the slowdown in the Chinese economy resulting from US-China trade friction and intensifying local market competition. Revenue in the heavy-duty bags business was ¥3,008 million, up 2.0% year on year.」

「In the heavy-duty bags business, domestic performance was broadly in line with the previous year, while overseas revenue declined due to the slowdown in the Chinese economy resulting from US-China trade friction and intensifying local market competition. Revenue in the heavy-duty bags business was ¥1,336 million, down 9.5% year on year.」

「Overseas, there are concerns that developments in trade issues, the outlook for the Chinese economy, uncertainty in the overseas economy, and volatility in financial and capital markets may weigh on economic activity.」

「In the overseas economy, the rise of protectionist trade policies pursued by the United States has heightened concerns about a contraction in global trade. In particular, the risk has increased that the situation, which could be described as a U.S.-China trade war, will have a significant direct and indirect impact on the Japanese economy.」

「In the overseas economy, the rise of protectionist trade policies pursued by the United States has heightened concerns about a contraction in global trade. In particular, the risk has increased that the situation, which could be described as a U.S.-China trade war, will have a significant direct and indirect impact on the Japanese economy.」

「Although uncertainty surrounding overseas political and economic conditions is easing, caution remains necessary regarding economic trends in China and other emerging economies and geopolitical risks in East Asia and elsewhere.」

「Overseas, developed economies, led by the United States, remain on a recovery track, while emerging economies are also improving. However, there are concerns that uncertainty in the overseas economy and volatility in financial and capital markets, including rising protectionist policy pressure in developed economies and the impact of normalization of U.S. monetary policy, may weigh on economic activity.」

「Although uncertainty surrounding overseas political and economic conditions is easing, caution remains necessary regarding economic trends in emerging economies, particularly China, and geopolitical risks in East Asia and elsewhere.」

「However, the outlook for economic conditions remains uncertain due to uncertainty in the global economy stemming from factors including policy developments under the new U.S. administration, economic trends in China and other emerging Asian economies, and rising geopolitical risks in East Asia, raising concerns about the impact on financial and capital markets.」

「However, the outlook for economic conditions remains uncertain due to uncertainty in the global economy stemming from factors including policy developments under the new U.S. administration, economic trends in China and other emerging Asian economies, and rising geopolitical risks.」

「Net sales for the consolidated fiscal year were ¥17,246 million, down 3.9% year on year, mainly due to lower demand for pulp molded products for industrial goods, slower economic growth in China and the ASEAN region, and a decline in sales of overseas products resulting from the stronger yen.」

「Overseas revenue declined due to the slowdown in the Chinese and ASEAN economies and the impact of the stronger yen.」

「In the paper-bag segment, domestic sales increased as the company worked to improve customer satisfaction and benefited from higher demand for export bags for synthetic resins and chemicals. Overseas sales declined due to the slowdown in the Chinese and ASEAN economies and the stronger yen, among other factors.」

「The instability of overseas economies has increased due to economic slowdowns in China and other emerging Asian economies, Brexit and other factors, and the outlook for economic conditions remains uncertain.」