Downside Economic Risks Transmitted Through Infectious Diseases and Supply Chains

「Overseas, in addition to the prolonged situation in Ukraine and further heightened geopolitical risks in the Middle East, the destabilisation of crude oil transport routes through the Strait of Hormuz is affecting global energy supplies. As surging crude oil prices and supply shortages weigh on economies around the world, uncertainty about the outlook for the global economy remains strong.」

「中東情勢の不透明感を背景とした開発需要の下押し懸念による保守的な受注見込み」

「A slowdown in the U.S. economy resulting from the Trump administration’s tariff policies and stagnation in global trade with the United States are also expected, and uncertainty about the outlook for the global economy remains strong.」

「Overseas, uncertainty about the outlook remains due to growing concerns over geopolitical risks arising from the prolonged situation in Ukraine and escalating tensions in the Middle East, as well as the continued high interest-rate environment, particularly in Europe and the United States.」

「Meanwhile, the outlook for the economy remains uncertain, as overseas economic and price trends, the situation in Ukraine and geopolitical risks in the Middle East have emerged as potential factors leading to a global recession.」

「Japan’s economy during the current consolidated fiscal year showed signs of recovery in economic activity as restrictions were eased following the subsiding of COVID-19 infections. However, the outlook for the economy remained clouded by uncertainty due to surging resource and energy prices resulting from the intensification and prolongation of the situation in Ukraine, as well as financial instability in Europe and the United States.」

「Meanwhile, the outlook for the economy remains uncertain because of upward pressure on prices from the sharp yen depreciation caused by the widening Japan-US interest-rate differential, rising geopolitical risks, and soaring global raw-material prices.」

「In the real estate industry, which has a significant impact on our group’s performance, new lifestyles such as work-style reforms and working from home have boosted housing demand. Together with support from the continued accommodative monetary policy and other factors, this has kept investment appetite among domestic and overseas investors strong, and the real estate market has remained firm.」

「The difficult operating environment continues, with risks of a downturn in the global economy, including soaring raw material and energy prices due to developments in Ukraine, inflation and volatility in financial and foreign exchange markets, becoming increasingly apparent. Continued monitoring is required.」

「Amid uncertainty stemming from the situation in Ukraine and other factors, close attention must be paid to downside risks arising from higher raw material prices, volatility in financial and capital markets and supply-side constraints, as well as to the impact of infectious diseases.」

「However, the situation remains unpredictable, as close attention must be paid to downside risks arising from supply-side constraints and raw material price trends, as well as to the effects of infectious diseases, including new variants, on domestic and overseas economies and the effects of volatility in financial and capital markets.」

「Looking ahead, economic activity is expected to recover as measures to prevent the spread of infections are implemented and vaccinations are promoted, supported by the effects of various policies and improvements in overseas economies. However, close attention must be paid to the rising downside risks arising from domestic and overseas infectious disease trends and their impact through supply chains, as well as to the effects of volatility in financial and capital markets.」