Uncertainty over the outlook due to the slowdown in emerging-market economies, yen appreciation and falling stock prices

「中東情勢の影響によるエネルギーの供給体制への懸念に加え、円安進行による原材料価格の高騰、継続的な物価上昇が経済に与える影響など依然として先行き不透明な状況が続いています。」

「Although Japan's domestic economy has faced headwinds including higher US tariffs, it is on a gradual recovery trend led by domestic demand, including increased private consumption centered on durable goods such as automobiles, and this trend is expected to continue. The global economy had been expected to remain firm, supported by financial and fiscal measures and AI-related demand. However, uncertainty is expected to continue amid concerns that worsening conditions in the Middle East could push up energy prices, damage exports and imports and weigh on economic activity.」

「During the interim consolidated accounting period, Japan's domestic economy remained on a trend of gradual recovery against a backdrop of improving employment and income conditions. However, uncertainty about the outlook continued amid concerns about consumption resulting from persistent price increases, uncertainty over US trade policy and prolonged instability in the international situation.」

「During the fiscal year, Japan's domestic economy was on a gradual recovery trend, albeit a modest one, as employment and income conditions improved, and this trend is expected to continue. Meanwhile, the global economy is expected to remain uncertain, affected by rising geopolitical risks, including the situations in Ukraine and the Middle East, policy changes resulting from a change of administration in the United States, prolonged high raw material prices and the possibility of an economic slowdown overseas, particularly in China.」

「During the interim consolidated accounting period, Japan's domestic economy showed signs of a gradual recovery, supported by improving employment and income conditions and increased inbound demand. However, uncertainty about the outlook continued amid rising geopolitical risks, concerns about the impact of higher prices on consumption and the effects of an unstable foreign exchange market.」

「During the fiscal year, the legal classification of COVID-19 in Japan was changed to Category 5, and socioeconomic activity moved toward normalization. Meanwhile, inflation caused by rising resource prices, yen depreciation and higher costs resulting from labor shortages directly affected people's lives, leading to sluggish private consumption. Economic growth also slowed globally, with signs of a more pronounced slowdown.」

「During the first nine months of the fiscal year, Japan's domestic economy showed signs of a gradual recovery as restrictions on movement related to COVID-19 were eased. However, uncertainty about the outlook continued amid concerns about an economic slowdown against a backdrop of monetary tightening led by Europe and the United States, continued yen depreciation and escalating global tensions.」

「During the first six months of the fiscal year, Japan's domestic economy saw the full-scale resumption of economic activity as restrictions on movement related to COVID-19 were eased. However, uncertainty about the outlook continued amid concerns about an economic slowdown against a backdrop of monetary tightening led by Europe and the United States, rapid yen depreciation and geopolitical risks resulting from an unstable international situation.」

「During the first three months of the fiscal year, Japan's domestic economy progressed toward normalization of economic activity as restrictions on movement related to COVID-19 were largely eased. However, uncertainty about the outlook continued amid concerns about an economic slowdown against a backdrop of global monetary tightening, rapid yen depreciation and persistently high raw material prices.」

「However, amid rising geopolitical risks, including the situation in Ukraine, supply chain disruptions and soaring energy and raw material prices have occurred, and uncertainty about the international situation and the outlook for the global economy has yet to be dispelled. In addition, the semiconductor market, which grew as demand expanded during the COVID-19 pandemic, slowed sharply as demand declined and production was cut for inventory adjustments, in addition to the impact of accelerating inflation and monetary tightening.」

「During the first nine months of the fiscal year, there were no significant changes in the occurrence of the major risks that management recognizes as potentially having a material impact on the financial position, operating results and cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」

「During the first six months of the fiscal year, there were no significant changes in the occurrence of the major risks that management recognizes as potentially having a material impact on the financial position, operating results and cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」

「During the first three months of the fiscal year, there were no significant changes in the occurrence of the major risks that management recognizes as potentially having a material impact on the financial position, operating results and cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」

「During the first six months of the fiscal year, there were no significant changes in the occurrence of the major risks that management recognizes as potentially having a material impact on the financial position, operating results and cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」

「During the first three months of the fiscal year, there were no significant changes in the occurrence of the major risks that management recognizes as potentially having a material impact on the financial position, operating results and cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」

「During the first nine months of the fiscal year, Japan's domestic economy showed signs of a gradual recovery as economic activity resumed in stages following a period of stagnation caused by the spread of COVID-19. However, the spread of the infection has again become more serious recently, and uncertainty about the outlook continues.」

「During the first six months of the fiscal year, Japan's domestic economy was in an extremely severe condition due to factors including the prolonged stagnation of socioeconomic activity resulting from the spread of COVID-19. Although economic activity is beginning to resume, the outlook remains uncertain, with infections continuing to spread again in certain countries and regions.」

「During the first three months of the fiscal year, there were no significant changes in the occurrence of the major risks that management recognizes as potentially having a material impact on the financial position, operating results and cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」

「The global spread of COVID-19 has caused a rapid slowdown in economic activity in Japan and overseas. The impact is immeasurable, making the situation difficult to predict.」

「During the first nine months of the fiscal year, sentiment toward domestic economic conditions remained cautious, particularly in the manufacturing sector. The outlook also remained uncertain amid the prolonged US-China trade friction, the Middle East situation, sluggish exports resulting from a slowdown in the global economy and the impact of a series of natural disasters in Japan.」

「During the first six months of the fiscal year, sentiment toward domestic economic conditions remained cautious, particularly in the manufacturing sector. The outlook also remained uncertain amid concerns about an economic slowdown resulting from the acceleration of protectionist policies by governments around the world, including US-China trade friction.」

「During the first three months of the fiscal year, net sales were ¥9,733 million, down 4.0% year on year, as export sales in the semiconductor and LCD segment declined against the same period of the previous year, when the semiconductor market was buoyant, amid factors including US-China trade friction.」

「During the first nine months of the fiscal year, Japan's economy recovered from the temporary downturn caused by the impact of a series of natural disasters on the domestic economy and remained on a trend of gradual recovery, supported by improving employment and income conditions resulting from sustained improvement in corporate earnings. However, concerns remain about the impact of US-China trade friction and political turmoil in Europe and the United States on overseas economies, and uncertainty continues.」

「During the first six months of the fiscal year, Japan's economy remained on a trend of gradual recovery, supported by sustained improvement in corporate earnings, improving employment and income conditions, a rebound in private consumption and capital investment. However, overseas economies remain uncertain, with the expansion of protectionist trade policies, rising long-term interest rates, deterioration in emerging-market economies and geopolitical risks in the Middle East regarded as downside risks to economic activity.」

「During the first quarter of the current consolidated fiscal year, there were no occurrences of matters that could have a material impact on investors' decisions among the matters concerning the business and accounting conditions described in the quarterly securities report, nor were there any material changes to the section on "Business and Other Risks" in the securities report for the previous fiscal year.」

「During the first nine months of the fiscal year, Japan's economy remained on a trend of gradual recovery, with corporate earnings continuing to be stable and signs of a rebound in private consumption against a backdrop of improving employment and income conditions. However, the outlook remains uncertain amid concerns about the impact of unstable political developments in Europe and the United States and escalating tensions surrounding North Korea.」

「During the first six months of the fiscal year, Japan's economy remained on a trend of gradual recovery, with corporate earnings continuing to improve and conditions for employment and income showing improvement. However, the outlook remains uncertain due to factors including the impact of US economic policy and geopolitical risks, including the North Korea issue.」

「During the first quarter of the current consolidated fiscal year, Japan’s economy remained on a gradual recovery trend, with improvements in corporate earnings and employment conditions, but the outlook remained uncertain due to concerns over slowing emerging-market economies and political instability overseas.」

「During the first nine months of the current consolidated fiscal year, Japan’s economy was on a gradual recovery trend, with improvements in corporate earnings and employment conditions against the backdrop of economic and monetary policies pursued by the government and the Bank of Japan. However, the outlook remained uncertain due to the transition to a new US administration, the UK’s withdrawal from the EU and slowing economic growth in emerging markets, including China.」

「During the first half of the current consolidated fiscal year, Japan’s economy was on a gradual recovery trend, with improvements in corporate earnings and employment conditions against the backdrop of economic and monetary policies pursued by the government and the Bank of Japan. However, the outlook remained uncertain due to concerns over the UK’s withdrawal from the EU and the slowing economic growth of emerging markets, including China.」

「Although Japan’s economy is showing signs of a gradual recovery, with improvements in corporate earnings and employment conditions against the backdrop of the effects of economic and monetary policies, the outlook remains uncertain due to the slowing economic growth of emerging markets, including China, as well as yen appreciation and falling share prices.」