Legal, regulatory, political and social risks associated with overseas business expansion

「A slowdown in the global economy resulting from the emergence of geopolitical risks, including the tariff policies of the United States and other countries and the situation in the Middle East, could change the distribution channels and demand for our products and those of our customers, thereby affecting our business performance.」

「Our Group is taking steps to mitigate the impact of policy changes in specific countries, including by reviewing its global supply chain structure.」

「Our Group continues to actively expand its overseas business and believes that the associated geopolitical risks, including unforeseen changes in laws and regulations, vulnerable industrial infrastructure, difficulties in recruiting and retaining personnel, terrorism and war, are increasing.」

「During the cumulative first quarter of the fiscal year, the global economy continued to recover from the effects of the spread of COVID-19, but remained in an uncertain environment due to factors including reduced automobile production caused by lockdowns in China and semiconductor shortages, higher raw material and fuel prices affected by the situation in Ukraine, accelerating global inflation, and logistics disruptions.」

「Although there were signs of recovery in some areas from the stagnation of economic activity caused by COVID-19, the global economy remained in an uncertain environment as various global issues emerged one after another, including the renewed spread of infections caused by variant strains, reduced automobile production due to semiconductor shortages, logistics disruptions, soaring raw material and fuel prices, growing concerns about inflation, and Russia's invasion of Ukraine.」

「Transactions with China carry the risk of being deemed violations while US re-export controls are being tightened, particularly as tensions between the United States and China escalate.」

「During the cumulative third quarter of the fiscal year, the global economy remained in an uncertain environment due to factors including escalating US-China trade friction, a slowdown in the Chinese economy, and deteriorating Japan-South Korea relations.」

「During the cumulative second quarter of the fiscal year, the global economy remained in an uncertain environment due to factors including escalating US-China trade friction, a slowdown in the Chinese economy, and deteriorating Japan-South Korea relations.」

「Our Group is expanding its overseas business, primarily in China and Asia, as well as in North America and Europe, but overseas business activities entail risks including unforeseen changes in laws and regulations, vulnerable industrial infrastructure, difficulties in recruiting and retaining personnel, and social or political turmoil caused by terrorism or war.」

「Overseas business activities entail risks including unforeseen changes in laws and regulations, vulnerable industrial infrastructure, difficulties in recruiting and retaining personnel, and social or political turmoil caused by terrorism or war.」

「The Group is expanding its overseas business, primarily in China and Asia, as well as in North America and Europe, but overseas business activities entail risks including unforeseen changes in laws and regulations, vulnerable industrial infrastructure, difficulties in recruiting and retaining personnel, and social or political turmoil caused by terrorism or war.」

「Overseas business activities entail risks including unforeseen changes in laws and regulations, vulnerable industrial infrastructure, difficulties in recruiting and retaining personnel, and social or political turmoil caused by terrorism or war.」