Volatility in Prices of Natural Fats and Oils-Based and Petrochemical-Based Raw Materials

「We continue to monitor the impact of the situation in the Middle East, including downside risks arising from surging raw material and fuel prices and supply concerns regarding crude oil-derived raw materials such as naphtha.」

「Although the domestic economy was recovering moderately, the business environment surrounding the Group was marked by concerns over downside risks from persistently high raw material and fuel prices and the impact of US tariff measures.」

「During the first half, amid concerns over the Ukraine crisis, tensions between the US and China, persistently high raw material and fuel prices, ongoing global inflation, turmoil in financial markets and other issues, the outlook for the global economy remained uncertain.」

「Amid concerns over the Ukraine crisis, tensions between the US and China, persistently high raw material and fuel prices, ongoing global inflation, turmoil in financial markets and other issues, the outlook for the global economy remained uncertain.」

「Although the business environment surrounding the Group continued to be affected by concerns about globally surging raw material and fuel prices, ongoing semiconductor shortages and geopolitical risks including the Ukraine crisis, domestic and overseas demand generally remained robust.」

「Although the business environment surrounding the Group continued to be affected by concerns about globally surging raw material and fuel prices, ongoing semiconductor shortages and geopolitical risks including the Ukraine crisis, domestic and overseas demand generally remained robust.」

「Although the business environment surrounding the Group was affected by continued high global raw material and fuel prices, semiconductor shortages and geopolitical risks including the Ukraine crisis, domestic and overseas demand generally remained robust.」

「Although the risk of renewed infections from new COVID-19 variants remains, the impact of COVID-19 is expected to gradually diminish as vaccination coverage increases and policies seek to balance social and economic activity. However, concerns also remain about supply chain disruptions caused by the Ukraine crisis and semiconductor shortages, as well as persistently high raw material and fuel prices, and the outlook for the global economy is expected to remain uncertain.」

「Although the business environment surrounding the Group continued to be affected by concerns about risk factors including the global semiconductor shortage, supply chain instability and higher raw material and fuel prices, demand in healthcare, automotive and related fields remained on a recovery trend.」

「The business environment surrounding the Group was recovering from the sharp decline in demand in the previous fiscal year caused by the COVID-19 pandemic. Meanwhile, concerns about semiconductor shortages and higher raw material prices remained, and the outlook continued to be uncertain.」

「However, in addition to the impact of new variants, concerns about supply chain instability due to prolonged tensions between the United States and China and higher raw material and fuel prices remain, and the outlook is expected to remain uncertain.」

「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」

「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」

「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」

「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」

「Although concerns remained about higher raw material and fuel prices and the impact of trade issues, the business environment surrounding the Group remained relatively robust, supported by domestic and overseas demand.」

「Although the business environment surrounding the Group raised concerns about downward pressure from higher raw material and fuel prices and the impact of trade issues, it remained relatively robust, supported by domestic and overseas demand.」

「Although the business environment surrounding the Group raised concerns about downward pressure from higher raw material and fuel prices and the impact of trade issues, it remained relatively robust, supported by domestic and overseas demand.」

「Although the business environment surrounding the Group faced downward pressure from higher raw material and fuel prices and lower demand for chemical products, it generally remained favorable, supported by robust domestic and overseas demand.」

「The business environment surrounding the Group remained relatively robust, supported by domestic demand and overseas demand in Europe, the United States, Asia and elsewhere, although it faced downward pressure from lower demand for chemical products and higher raw material and fuel prices.」

「The business environment surrounding the Group remained relatively robust, supported by domestic demand and overseas demand in Europe, the United States, Asia and elsewhere, although it faced downward pressure from lower demand for chemical products and higher raw material and fuel prices.」

「Although the business environment surrounding the Group was supported by resilient domestic demand, it faced downward pressure from higher raw material and fuel prices and a temporary decline in demand for chemical products.」

「The business environment surrounding the Group was expected to become more challenging due to the impact of higher raw material and fuel prices and foreign exchange fluctuations, as well as an anticipated temporary decline in demand for chemical products.」

「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」

「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」

「The Group uses natural oil-based and petrochemical-based materials as raw materials. These prices are susceptible to international market conditions, and the Group is implementing measures including diversifying the raw materials it uses. However, if changes in raw material prices cannot be passed on to product prices in a timely and sufficient manner, the Group's operating results and financial condition could be affected.」