Business Constraints Risk from Infectious Diseases such as COVID-19

「During the interim consolidated accounting period, there were no material changes in the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in this interim securities report, or in the business and other risks described in the securities report for the previous fiscal year.」

「Although the Group is working to prevent infection among employees and others by thoroughly implementing health and safety measures for viral infectious diseases, if society, the economy and markets become disrupted by viruses or other infectious diseases and stakeholders are materially affected, the Group's business activities may be constrained, which could affect its business results and financial condition.」

「Although the Group is working to prevent infection among employees and others by thoroughly implementing health and safety measures for new infectious diseases, if society, the economy and markets become disrupted by new infectious diseases or other causes and stakeholders are materially affected, the Group's business activities may be constrained, which could affect its business results and financial condition.」

「Although the Group has established a crisis management headquarters for COVID-19 and is working to prevent infection among employees and others by thoroughly implementing health and safety measures, if society, the economy and markets become disrupted by COVID-19 or other infectious diseases and stakeholders are materially affected, the Group's business activities may be constrained, which could affect its business results and financial condition.」

「During the nine-month period of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could materially affect the consolidated companies' financial condition, operating results or cash flows, among the matters related to the business and accounting described in the quarterly securities report, or in the "Business and Other Risks" described in the securities report for the previous fiscal year.」

「During the three-month period of the current fiscal year, there were no material changes in the occurrence of major risks that management recognizes could materially affect the consolidated companies' financial condition, operating results or cash flows, among the matters related to the business and accounting described in the quarterly securities report, or in the "Business and Other Risks" described in the securities report for the previous fiscal year.」

「Although the number of COVID-19 infections temporarily declined, business activity and personal consumption were significantly restricted. Recently, concern has increased about a sharp rise in domestic infections caused by a new variant, and uncertainty about the outlook has continued.」

「During the first six months of the current fiscal year, Japan's economy continued to experience periods in which economic activity was restrained as COVID-19 infections spread. Although signs of a recovery have recently emerged in some areas following a decline in infections, the outlook remains uncertain due to soaring energy prices and other factors.」

「The outlook remains uncertain as economic activity has been restrained by repeated declarations of a state of emergency accompanying the renewed spread of COVID-19 infections.」

「As of the date of submission of this report, economic activity in the industries related to the Group is expected to resume as the impact of COVID-19 eases, and demand for steel products is expected to recover gradually. However, the impact of the spread of COVID-19 remains subject to many uncertainties, and a renewed spread of infections or a prolonged impact resulting from delays in vaccination could affect the Group's financial condition, operating results and other aspects of its business.」

「During the first nine months of the current fiscal year, Japan's economy showed signs of improvement from the stagnation of economic activity caused by COVID-19, but with infections spreading again recently, uncertainty about the outlook has continued.」

「In the industries related to the Group's business, demand for steel products declined due in part to construction delays caused by the impact of COVID-19. From a cost perspective, the price of iron scrap, the main raw material, shifted from a declining phase to a rising phase, resulting in an unpredictable situation.」

「In the industries related to the Group, construction demand has continued to trend downward, while construction delays caused by COVID-19 have also occurred in some areas.」

「The business environment surrounding the Group remains unpredictable amid the global spread of COVID-19. Although the Group has established a crisis management headquarters for COVID-19 and is working to prevent infection among employees and others by thoroughly implementing health and safety measures, if society, the economy and markets become disrupted by COVID-19 or other infectious diseases and stakeholders are materially affected, the Group's business activities may be constrained, which could affect its business results and financial condition.」