Fluctuations in demand due to personal consumption, the Chinese economy and international conditions

「当第１四半期連結累計期間におけるわが国経済は、中東情勢の緊迫化に伴う地政学リスクの高まりにより、原油価格や為替相場が大きく変動する等、不安定な状況が続きました。」

「Meanwhile, the outlook remains uncertain due to rising geopolitical risks, including the increasingly tense situation in the Middle East and prolonged international conflicts, tariff risks arising from developments in U.S. trade policy, continued inflation, persistently high raw material prices, rising labor and logistics costs, and sharp foreign exchange fluctuations.」

「The outlook remains uncertain due to prolonged geopolitical risks, developments in US trade policy, continuing price increases, persistently high raw material prices against a backdrop of higher labor and logistics costs, and sharp exchange-rate fluctuations. Manufacturers continue to face difficult conditions, including persistently high raw material prices, labor shortages, and higher labor, utility and logistics costs.」

「The business environment surrounding the Company remains uncertain due to soaring energy and raw material prices, accelerating inflation, a review of US-led trade initiatives and rising geopolitical risks. In addition, the Company is required to address environmental impact reduction, declining labor supply and changing demand trends resulting from Japan’s declining birth rate and aging population. Based on these changes in the business environment, the Company believes it must continue strengthening its robust management structure.」

「During the six months ended the current consolidated interim fiscal period, Japan’s economy showed signs of improvement in inbound consumption, corporate earnings, and employment and income conditions. However, the recovery lacked strength as inflation constrained real wage growth, and the economy remained in a gradual recovery. At the same time, the outlook remained uncertain due to persistently high energy and raw material prices against a backdrop of rising geopolitical risks, sharp exchange-rate fluctuations and higher consumer prices.」

「During the consolidated fiscal year, economic activity progressed toward normalization as the movement of people and inbound demand recovered. However, the outlook remained uncertain as international conditions continued to be unstable and prices continued to rise due to persistently high raw material and energy prices.」

「During the nine months ended the third quarter of the current consolidated fiscal year, economic activity progressed toward normalization as the movement of people and inbound demand recovered. However, the outlook remained uncertain as international conditions continued to be unstable and prices continued to rise due to persistently high raw material and energy prices.」

「During the six months ended the second quarter of the current consolidated fiscal year, economic activity progressed toward normalization as the movement of people and inbound demand recovered. However, the outlook remained uncertain as international conditions continued to be unstable and prices continued to rise due to persistently high raw material and energy prices.」

「During the three months ended the first quarter of the current consolidated fiscal year, economic activity continued to normalize as restrictions on activity related to COVID-19 were lifted and the movement of people, including inbound visitors, recovered. At the same time, the outlook remained uncertain due to the prolonged Russia-Ukraine situation and continuing price increases.」

「During the nine months ended the third quarter of the current consolidated fiscal year, restrictions on activity related to COVID-19 were eased and economic activity began to normalize. However, the outlook remained uncertain due to the yen’s depreciation, the impact of higher prices on the economy and the Russia-Ukraine situation, for which no end was yet in sight.」

「During the six months ended the second quarter of the current consolidated fiscal year, restrictions on activity related to COVID-19 were eased and economic activity began to normalize. However, the outlook remained uncertain due to the yen’s depreciation, soaring energy prices, reduced consumer appetite caused by higher prices and unresolved geopolitical concerns, including the prolonged Russia-Ukraine situation.」

「During the three months ended the first quarter of the current consolidated fiscal year, Japan’s economy showed signs of recovery as economic activity suppressed by COVID-19 began to normalize. However, given rising geopolitical risks, including Russia’s invasion of Ukraine, it was necessary to pay close attention to downside risks to the economy alongside inflation risks, including volatility in financial and capital markets, rising raw material prices, procurement constraints and the rapid depreciation of the yen.」

「However, given rising geopolitical risks, including Russia’s invasion of Ukraine, it is necessary to pay close attention to downside risks to the economy alongside inflation risks, including volatility in financial and capital markets, rising raw material prices and supply constraints.」

「However, it is necessary to closely monitor the impact of future infection trends, including the emergence of new variants, on domestic and overseas economies and the impact of volatility in financial and capital markets.」

「During the six months ended the second quarter of the current consolidated fiscal year, Japan’s economy was affected by the spread of COVID-19, with states of emergency declared intermittently and priority preventive measures applied from April 2020 onward. Although economic activity showed gradual signs of recovery, it was necessary to closely monitor the impact of infection trends on domestic and overseas economies and the impact of volatility in financial and capital markets.」

「During the three months ended the first quarter of the current consolidated fiscal year, Japan’s economy was affected by the spread of COVID-19, with states of emergency declared intermittently and priority preventive measures applied from April 2020 onward. Although economic activity showed gradual signs of recovery, it was necessary to closely monitor the impact of infection trends on domestic and overseas economies and the impact of volatility in financial and capital markets.」

「Although economic activity showed signs of recovery in Japan and overseas as its level was gradually raised while measures were taken to prevent the spread of infection, supported by the effects of various policies and improvements in overseas economies, a state of emergency was reintroduced in the near term due to the resurgence of COVID-19. Conditions therefore remained unpredictable, requiring attention to its future impact on the global economy and volatility in financial and capital markets.」

「During the six months ended the second quarter of the current consolidated fiscal year, Japan’s economy deteriorated rapidly from April through May as the spread of COVID-19 led to restrictions on economic and social activities. Although economic activity showed signs of recovery as its level was gradually raised while measures were taken to prevent the spread of infection, it had not returned to pre-pandemic levels. Conditions remained unpredictable, requiring attention to concerns over a resurgence of infection, its impact on the global economy and volatility in financial and capital markets.」

「During the three months ended the first quarter of the current consolidated fiscal year, Japan’s economy deteriorated rapidly as the spread of COVID-19 led to the declaration of a state of emergency and restrictions on economic and social activities. Subsequently, economic activity showed signs of recovery as its level was gradually raised while measures were taken to prevent the spread of infection. However, conditions remained unpredictable, requiring attention to concerns over further spread of infection, its potential impact on the global economy and volatility in financial and capital markets.」

「During the consolidated fiscal year, Japan’s economy was on a gradual recovery trend as corporate earnings and employment conditions improved, but it was sharply weakened in the near term by the impact of COVID-19. Greater attention was required to its impact on the domestic and global economies and to volatility in financial and capital markets.」

「During the nine months ended the third quarter of the current consolidated fiscal year, Japan’s economy was on a gradual recovery trend as corporate earnings and employment conditions improved. However, attention was required regarding changes in consumer sentiment following the consumption tax increase, the impact of persistent uncertainty surrounding trade issues on the global economy, and volatility in financial and capital markets.」

「Although there were positive factors, including improved performance at Taisei Lamick Malaysia Sdn.Bhd., which began operating a new plant in the previous fiscal year, overseas markets posted a slight year-on-year decline in revenue amid growing economic and trade uncertainty worldwide, partly due to the impact of the yen’s appreciation. As a result, revenue was ¥12,435 million, down 1.2% year on year.」

「During the three months ended the first quarter of the current consolidated fiscal year, Japan’s economy was on a gradual recovery trend as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to the impact of trade issues on the global economy and volatility in financial and capital markets.」

「During the consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the nine months ended the third quarter of the current consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the six months ended the second quarter of the current consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the three months ended the first quarter of the current consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the nine months ended the third quarter of the current consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the six months ended the second quarter of the current consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the three months ended the first quarter of the current consolidated fiscal year, Japan’s economy saw a gradual recovery in personal consumption as corporate earnings and employment conditions improved. However, conditions remained unpredictable, requiring attention to uncertainty in overseas economies and volatility in financial and capital markets.」

「During the nine months ended the third quarter of the current consolidated fiscal year, Japan’s economy showed signs of a gradual recovery in personal consumption, although corporate earnings remained stagnant. Overseas, conditions continued to warrant caution due to concerns over a slowdown in emerging-market economies, particularly China, the UK’s EU departure issue, and the impact of uncertainty surrounding future US economic and monetary policy.」

「Overseas, conditions remained uncertain due to concerns over a slowdown in emerging-market economies, particularly China, and heightened uncertainty in the global economy associated with the UK’s departure from the European Union (EU).」

「During the first three months of the consolidated fiscal year, there were no material changes concerning matters described in the quarterly securities report that could materially affect investors' decisions, or to the business and other risks described in the securities report for the previous fiscal year.」

「The outlook remains uncertain, partly because the recovery in personal consumption has been delayed by sluggish wage growth, while concerns have emerged over a downturn in the global economy caused by the slowdown in the Chinese economy and instability in international conditions.」