Business Continuity and Performance Risks from the Spread of a Novel Infectious Disease

「During the consolidated fiscal year under review, Japan’s economy was gradually recovering as economic activity normalized and personal consumption and capital investment remained solid, but」

「As the normalization of social and economic activity advances further following the reclassification of COVID-19 as a “Category 5 infectious disease,”」

「As the normalization of social and economic activity advances further following the reclassification of COVID-19 as a “Category 5 infectious disease,”」

「Social and economic activity has been recovering as COVID-19 was reclassified as a “Category 5 infectious disease,” but」

「While social and economic activity is moving toward normalization following the reclassification of COVID-19,」

「The economy has continued to recover gradually as restrictions on activity related to COVID-19 have been eased, but」

「During the six-month consolidated period under review, Japan’s economy was gradually recovering as restrictions on activity caused by COVID-19 were eased, although」

「During the first quarter of the consolidated fiscal year under review, Japan’s economy showed signs of recovery as a result of infection-control measures and policy effects, although the impact of COVID-19 was prolonged,」

「During the consolidated fiscal year under review, Japan’s economy continued to experience restrictions and stagnation in economic activity as declarations of a state of emergency and priority preventive measures were repeatedly requested due to the prolonged impact of COVID-19, but signs of recovery in economic activity emerged as a result of vaccinations and other measures.」

「Rapid renewed spread of the Omicron variant from the end of the year」

「As the renewed spread of COVID-19 led to the reissuance of a state of emergency, social and economic activity continued to be restricted,」

「During the cumulative first quarter of the current consolidated fiscal period, social and economic activity remained difficult, including the reissuance of the state of emergency amid the resurgence of COVID-19 infections, and the outlook remained uncertain.」

「The global spread of COVID-19 continues, making it difficult to predict when the pandemic will end, but」

「The trend toward a renewed spread of infections through the end of the year strengthened, and the timing of the end of the pandemic remained unforeseeable, making the economic outlook increasingly uncertain.」

「During the six-month consolidated period under review, Japan’s economy was in an extremely difficult situation as the spread of COVID-19 significantly restricted social and economic activity. Although signs of recovery were seen in some industries as a result of various government measures, the outlook remained uncertain because the timing of the end of the COVID-19 pandemic could not be predicted.」

「During the cumulative first quarter of the current consolidated fiscal period, the Japanese economy deteriorated sharply as the spread of COVID-19 severely constrained private consumption and corporate activity. After the state of emergency was lifted, expectations rose for a recovery in economic activity through various policies, but the outlook remained uncertain because the timing of the end of the COVID-19 pandemic could not be foreseen.」

「In response to the spread of novel infectious diseases and other infections, the Group is collecting accurate information and promptly establishing appropriate internal systems for infection prevention and containment. However, if an infectious disease spreads, the Group’s operating results, financial condition and other matters could be affected, including through a temporary suspension of operations.」