Uncertainty about the Outlook Due to Rising Prices and Failures of Overseas Financial Institutions

「Against the backdrop of heightened tensions in the Middle East, the company continues to face conditions requiring close monitoring, including trends in resource prices, uncertainty over the outlook for U.S. trade policy, unstable movements in foreign exchange markets, and the impact of rising prices on personal consumption.」

「At the same time, continued close attention is required in light of factors including resource-price trends resulting from the increasingly tense situation in the Middle East, uncertainty over the outlook for U.S. trade policy, unstable movements in foreign-exchange markets, and the impact of rising prices on personal consumption.」

「During the interim accounting period under review, Japan’s economy generally remained on a gradual recovery path, although there were some effects from changes in overseas conditions, including US trade policy. At the same time, continued price increases affected personal consumption, and the effects of volatility in financial and capital markets required close attention.」

「During the fiscal year from 1 July 2024 to 30 June 2025, Japan’s economy remained difficult to forecast due to the prolonged global monetary tightening, geopolitical risks and uncertainty surrounding US tariff policy, despite some results from improvements in employment and income conditions and the effects of various policies.」

「During the interim accounting period under review, Japan’s economy remained on a gradual recovery path, but lacked strength due to uncertainty in the external environment and structural challenges at home. Although employment conditions were improving, consumer prices remained elevated as a result of factors including higher import costs caused by the weak yen. Sluggish real wage growth and stagnant consumer sentiment restrained a full-scale economic recovery. External factors, including trends in the global economy and geopolitical risks, also remained important factors affecting the outlook for Japan’s economy.」

「During the fiscal year from 1 July 2023 to 30 June 2024, Japan’s economy was gradually recovering, but economic conditions remained uncertain due to the sharp depreciation of the yen, soaring resource prices resulting from conflicts in Eastern Europe and the Middle East, continued inflation mainly in the advanced economies of Europe and the United States, and monetary tightening.」

「However, the effects of global monetary tightening and concerns about the outlook for the Chinese economy, among other factors, pose a risk that weaker overseas economic conditions will put downward pressure on Japan’s economy. We also recognise the need to pay close attention to the effects of rising prices, developments in the Middle East and volatility in financial and capital markets.」

「However, financial and capital markets and economic conditions are expected to remain uncertain due to continued price increases, global monetary tightening and the effects of the Noto Peninsula Earthquake that occurred in January 2024, among other factors.」

「During the cumulative first quarter under review, Japan’s economy had been gradually recovering, but financial and capital markets and economic conditions remained uncertain due to continued price increases and global monetary tightening, among other factors.」

「Meanwhile, financial and capital markets and economic conditions remain uncertain due to continued price increases and global monetary tightening, among other factors.」

「Meanwhile, the outlook for economic conditions remains uncertain due to continued price increases and a succession of failures of overseas financial institutions, among other factors.」