Risks related to imported raw materials, freight, foreign exchange and energy market conditions

「直近の中東情勢の緊迫化に伴う原材料・資材の調達リスク及び価格上昇等の当社業績に与える影響につきましては、現時点では合理的な算定が困難であることから、本業績予想には織り込んでおりません。今後、業績に重要な影響を及ぼすと判断される事象が生じた場合には、速やかに開示いたします。」

「In the fertilizer business, international fertilizer raw-material market conditions remain unstable due to conflicts overseas, export controls by China and other factors. In addition, escalating tensions in the Middle East have recently emerged as a factor, and raw-material prices have surged.」

「In our core fertilizer business, international market conditions remain unstable and prices remain high due to overseas reliance on fertilizer raw materials, export controls by China and other countries, and the impact of yen depreciation.」

「During the interim consolidated accounting period, there were no new major risks or significant changes to the business risks described in the annual securities report that management recognized as potentially having a material effect on the financial position, operating results, or cash flows of the consolidated companies, among the matters concerning business conditions and financial matters described in this Semiannual Report.」

「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「In the fertilizer industry, amid strong fertilizer demand accompanying global food production and population growth, fertilizer raw-material prices temporarily declined due to factors including continued supplies from Russia and softer grain prices. However, market conditions have turned upward again amid the possibility that China, one of the world's leading exporters of urea and phosphate-ammonium fertilizers, may tighten export controls. In addition, crude oil prices have risen due to voluntary production cuts by major oil-producing countries, and market conditions remain extremely uncertain amid continued yen depreciation and other factors.」

「In the fertilizer industry, amid strong fertilizer demand accompanying global food production and population growth, fertilizer raw-material prices had temporarily risen to record highs against a backdrop of political issues in leading fertilizer-exporting countries, including Russia's invasion of Ukraine. However, raw-material market conditions have turned downward due to factors including continued supplies from Russia and softer grain prices. Fuel prices have also turned downward due to the global economic slowdown resulting from monetary tightening policies in various countries, but the impact of surging fuel prices remains in Japan, electricity and logistics costs remain high, and market conditions remain extremely uncertain due to factors including continued yen depreciation.」

「Subsequently, international prices for some raw materials have softened due to falling grain prices and easing supply and demand during the inter-season period, but raw-material prices overall remain high. In Japan, although the economy showed signs of a gradual recovery, market conditions remain extremely uncertain due to factors including surging fuel prices, rapid yen depreciation caused by monetary tightening policies in various countries and rising prices.」

「In the fertilizer industry, amid strong fertilizer demand accompanying the rise in global grain prices, global supply and demand have tightened against a backdrop of political issues in leading fertilizer-exporting countries, including Russia's invasion of Ukraine, and international fertilizer raw-material prices have remained high after rising to record highs. In addition, market conditions remain extremely uncertain due to factors including surging fuel prices, higher ocean freight rates caused by container shortages and volatility in the financial and capital markets.」

「In the fertilizer industry, amid strong fertilizer demand accompanying the rise in global grain prices, global supply and demand have tightened against a backdrop of political issues in leading fertilizer-exporting countries, including Russia's invasion of Ukraine, and international fertilizer raw-material prices have risen to record highs. In addition, market conditions remain extremely uncertain due to factors including surging fuel prices, higher ocean freight rates caused by container shortages and volatility in the financial and capital markets.」

「In addition, amid strong fertilizer demand accompanying the rise in global grain prices, international fertilizer raw-material prices have continued to rise after China, the world's largest exporter of urea and phosphate-ammonium fertilizers, indicated a policy of prioritizing domestic demand. As conditions change significantly, including soaring crude oil prices, higher ocean freight rates due to container shortages and a weaker yen, securing a stable supply of raw materials has become an urgent priority.」

「In addition, against a backdrop of rising global grain demand and other factors, fertilizer raw-material prices have risen sharply in international markets. As the fertilizer industry relies on overseas sources for much of its raw materials, securing a stable supply has become an urgent priority.」

「In the fertilizer business, sales volume exceeded the previous year, partly due to rush demand in anticipation of fertilizer price increases from June onward. However, due to surging raw-material prices, sales were ¥7,031 million, up 13.9% year on year, while segment profit was ¥338 million, down 16.0%.」

「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「In the chemicals business, particularly in chemical products, we are working to secure low-cost raw materials and acquire new customers.」

「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」

「Because most of the key raw materials for fertilizers are imported, raw-material market conditions, freight rates, foreign exchange rates and energy market conditions may result in surging raw-material prices or supply shortages, which could affect the performance and financial position of the Group.」

「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」

「Because most of the key raw materials for fertilizers are imported, raw-material market conditions, freight rates, foreign exchange rates and energy market conditions may result in surging raw-material prices or supply shortages, which could affect the performance and financial position of the Group.」

「In the chemicals business, we will work to secure low-cost raw materials and ensure stable supplies to customers.」

「In the chemicals business, we will work to secure low-cost raw materials and ensure stable supplies to customers.」

「In the chemicals business, we will work to secure low-cost raw materials and ensure stable supplies to customers.」

「Because most of the key raw materials for fertilizers are imported, raw-material market conditions, freight rates, foreign exchange rates and energy market conditions may result in surging raw-material prices or supply shortages, which could affect the performance and financial position of the Group.」

「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」

「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」

「Because most of the key raw materials for fertilizers and other products are imported, raw-material market conditions, freight rates, foreign exchange rates and energy market conditions may result in surging raw-material prices or supply shortages, which could affect the performance and financial position of the Group.」