Economic Trends and Market Fluctuations in Construction, Automotive, LCD and Semiconductor Industries

「The impact on sales of our products remains uncertain due to factors including higher prices for raw materials and fuel arising from the situation in the Middle East and increasing uncertainty over the ability to maintain ongoing procurement, and the uncertain business environment is expected to continue.」

「During the interim consolidated accounting period, there were no new business risks or material changes to the business risks described in the securities report for the previous fiscal year.」

「In addition, the timing of a complete ceasefire in the conflicts in Ukraine and the Middle East remains unclear, and the outlook remains extremely uncertain, including due to the future impact of U.S. tariff policy.」

「Meanwhile, the outlook for the global economy remains extremely uncertain. In the United States, personal consumption is supporting the economy and a soft landing is expected, while in Europe, concerns over a recession have emerged amid sluggish personal consumption. In China, the economy has stagnated due to the property downturn and a decline in foreign direct investment. In addition, conflicts in Ukraine and the Middle East continue, and decoupling centered on the United States and China is progressing.」

「Meanwhile, the outlook for the global economy remained extremely uncertain as the effects of prolonged monetary tightening in Europe and the United States continued, the Chinese economy slowed amid the property downturn, Russia's invasion of Ukraine continued, and tensions in the Middle East remained elevated.」

「Meanwhile, the outlook for the global economy remains extremely uncertain due to the impact of monetary tightening in Europe and the United States, a slowdown in the Chinese economy caused by the property downturn, the prolonged Russian invasion of Ukraine, and armed conflict in the Middle East.」

「Meanwhile, the outlook for the global economy remains extremely uncertain as European and other Western countries continue monetary tightening, China's property market remains a focus, Russia's invasion of Ukraine continues, and conflict between Israel and Palestine has broken out.」

「The outlook for the global economy remains extremely uncertain due to the impact of the prolonged invasion of Ukraine by Russia, concerns over an economic slowdown caused by monetary tightening in Europe and the United States, and a slower pace of economic recovery resulting from the sluggish Chinese property market.」

「The outlook for the global economy remains extremely uncertain due to soaring raw material and fuel prices resulting from the prolonged invasion of Ukraine by Russia and the impact of economic sanctions imposed on Russia by governments around the world, concerns over financial system instability and the impact on the real economy from monetary tightening in Europe and the United States in response to inflationary pressures, and concerns over slower economic growth under China's zero-COVID policy and the sustainability of the economic recovery following its lifting.」

「The outlook for the global economy remains extremely uncertain due to soaring raw material and fuel prices resulting from the prolonged invasion of Ukraine by Russia and the impact of economic sanctions imposed on Russia by governments around the world, forecasts of an economic downturn caused by monetary tightening in Europe and the United States in response to inflationary pressures, and the economic impact of slower growth under China's zero-COVID policy and the sharp rise in infections following its lifting.」

「The outlook for the global economy remains extremely uncertain due to soaring raw material and fuel prices resulting from the prolonged invasion of Ukraine by Russia and the impact of economic sanctions imposed on Russia by governments around the world, downside risks to the economy from monetary tightening in Europe and the United States in response to inflationary pressures, and concerns over slower economic growth resulting from China's continued zero-COVID policy.」

「The challenging environment has persisted, with the yen depreciating sharply, raw material and fuel prices rising, and supply chains disrupted by lockdowns in major Chinese cities.」

「The global economy had been showing signs of recovery, particularly in developed countries, but the outlook remains extremely uncertain due to stalled production caused by shortages of components, particularly semiconductors, as well as further increases in raw material and fuel prices resulting from Russia's invasion of Ukraine and the impact of economic sanctions imposed on Russia by governments around the world.」

「The global economy has continued to recover, particularly in developed countries, but the global spread of infections driven primarily by variants, the impact of ongoing U.S.-China tensions, stalled production due to shortages of components, particularly semiconductors, and soaring raw material and fuel prices mean that the outlook remains extremely uncertain.」

「The global economy has seen a broadening economic recovery against the backdrop of progress in vaccination, but infections driven primarily by variants have spread in some regions. In addition, the outlook remains extremely uncertain due to the impact of ongoing U.S.-China tensions and stalled production resulting from shortages of components, particularly semiconductors.」

「Although signs of an economic recovery are spreading against the backdrop of progress in vaccinations, the outlook remains extremely uncertain due to renewed infections from variants in some regions and the continuing impact of the still-tense US-China confrontation.」

「Although some countries are showing signs of economic recovery due to the spread of vaccinations and economic measures, conditions vary significantly by region, with large-scale infection outbreaks recurring in some countries. The outlook remains extremely uncertain due also to the impact of the broad and prolonged US-China confrontation.」

「Although expectations for an end to COVID-19 are increasing with the start of vaccinations, the outlook remains extremely uncertain as infections accompanied by movement restrictions are worsening, particularly in Europe and the United States, and due to the impact of the broad and prolonged US-China confrontation and the change of administration in the United States.」

「The global economy has fallen into a synchronised global recession due to COVID-19, with negative growth forecast worldwide. Meanwhile, the confrontation between the United States and China, which originated in trade friction, has broadened and prolonged, and movement restrictions have begun to be imposed in Europe as infections have resurged. The outlook therefore remains extremely uncertain. Under these economic conditions, the group pursued active sales activities, but revenue for the six-month period ended in the second quarter of the current fiscal year declined 23.3% year on year to ¥84,030 million due to the deterioration in economic conditions worldwide.」

「Under these economic conditions, the group pursued active sales activities, but revenue for the three-month period ended in the first quarter of the current fiscal year declined 16.8% year on year to ¥45,077 million.」

「The global economy continues to face an extremely uncertain outlook as stagnation in trade resulting from prolonged US-China trade friction and the impact of COVID-19 expand day by day.」

「Meanwhile, personal consumption in the United States remains firm, supported by favourable employment conditions, although the manufacturing downturn continues. In China, the economy is slowing due to stagnation in trade resulting from prolonged US-China trade friction. The outlook remains uncertain due to increasing geopolitical risks worldwide, including rising tensions in the Middle East, and other factors.」

「Meanwhile, personal consumption in the United States remains firm, supported by favourable employment conditions, although signs of an economic slowdown, particularly in manufacturing, have begun to emerge. In China, government economic measures have begun to curb the slowdown, but the outlook remains uncertain due to concerns over further stagnation in trade resulting from prolonged US-China trade friction, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by favourable employment conditions. In China, government economic measures have begun to curb the slowdown, but the outlook remains uncertain due to concerns over further stagnation in trade resulting from prolonged US-China trade friction, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by favourable employment conditions. In China, government economic measures have begun to curb the slowdown, but the outlook remains uncertain due to concerns over further stagnation in trade resulting from prolonged US-China trade friction, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by favourable employment conditions and sustained growth in personal consumption. In China, however, signs of an economic slowdown are increasing due to declining imports from the United States and weak personal consumption. The outlook remains uncertain due to concerns over stagnation in trade resulting from further intensification of US-China trade friction, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by favourable employment conditions. However, the outlook remains uncertain due to concerns over stagnation in trade resulting from the intensification of US-China trade friction, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by improved corporate earnings and favourable employment conditions. However, the outlook remains uncertain due to concerns over stagnation in trade resulting from the expansion of protectionist policies, including US-China trade friction, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by improved corporate earnings and favourable employment conditions. However, the outlook remains uncertain due to protectionist policies, including US-China trade friction, concerns over an economic slowdown resulting from tighter fiscal and monetary policy and stronger environmental regulations in China, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by improved corporate earnings and favourable employment conditions. However, the outlook remains uncertain due to US policy developments, concerns over an economic slowdown resulting from tighter fiscal and monetary policy and stronger environmental regulations in China, increasing geopolitical risks worldwide and other factors.」

「Meanwhile, the global economy continues to recover in the United States, supported by improved corporate earnings and favourable employment conditions. However, the outlook remains uncertain due to US policy developments, concerns over an economic slowdown resulting from tighter fiscal and monetary policy in China, increasing geopolitical risks worldwide and other factors.」

「Under these economic conditions, the group pursued active sales activities, but revenue for the three-month period ended in the first quarter of the current fiscal year declined 0.1% year on year to ¥54,855 million.」

「Revenue for the current fiscal year declined 2.7% from the previous fiscal year to ¥228,898 million due to yen appreciation and the impact of businesses that had suspended production in the previous fiscal year, among other factors.」

「Under these economic conditions, the group pursued active sales activities, but revenue for the nine-month period ended in the third quarter of the current fiscal year declined 8.0% year on year to ¥161,088 million due to yen appreciation and the impact of businesses that had suspended production in the previous fiscal year, among other factors.」

「Under these economic conditions, the group pursued active sales activities, but revenue for the six-month period ended in the second quarter of the current fiscal year declined 8.4% year on year to ¥105,380 million due to yen appreciation and the impact of businesses that had suspended production in the previous fiscal year, among other factors.」

「The outlook remains uncertain due to the continued slowdown in China's economy, the impact of the UK's decision to leave the EU, increasing geopolitical risks worldwide and other factors.」

「Unexpected significant changes in economic trends in Japan, North America, Europe, Asia and elsewhere, or fluctuations in market conditions driven by trends in the construction and building materials, automotive, and LCD and semiconductor industries, could affect the group's operating results and financial position.」