Economic uncertainty from geopolitical risks, yen depreciation and inflation

「Uncertainty arising from US trade policy and the situations in Iran and Ukraine continues to exert some downward pressure on corporate capital spending sentiment and consumer sentiment.」

「Uncertainty arising from changes in U.S. trade policy and conditions in the Middle East and Ukraine continues to exert a certain degree of downward pressure on companies’ appetite for capital investment and consumer sentiment.」

「The outlook remains uncertain due to unstable international conditions, including the situations in Ukraine and the Middle East, and US trade policy.」

「Although employment and income conditions in Japan improved during the interim consolidated accounting period, the impact of the uncertain outlook due to the situation in Ukraine, the Middle East and future US policy developments continued to require close monitoring, and the economic outlook in Japan and overseas remained uncertain.」

「Concerns remain about the impact on personal consumption of higher resource and raw material prices due to geopolitical risks including the situations in Ukraine and the Middle East, and inflation associated with yen depreciation. The economic outlook therefore remains uncertain.」

「Geopolitical risks, yen depreciation resulting from widening interest rate differentials with Europe and the United States, and inflation caused by higher resource and raw material prices resulting from the weaker yen have continued, raising concerns about their impact on the economy and personal consumption. The economic outlook therefore remains uncertain.」