Uncertainty in Economic Conditions Due to Yen Appreciation, a Slowdown in the Chinese Economy, and Falling Resource Prices

「Meanwhile, the outlook for the global economy remained uncertain due to surging resource prices caused by turmoil in the Middle East and the effects of US tariff policy.」

「Overseas, downside risks to economic conditions persisted and uncertainty about the outlook could not be dispelled due to political tensions between Japan and China, stagnation in the Chinese economy and major changes in US trade policy.」

「Overseas, downside risks to economic conditions have increased and uncertainty about the outlook has intensified due to geopolitical risks related to Ukraine and the Middle East, stagnation in the Chinese economy and major changes in US trade policy.」

「Japan's economy during the six-month period ended in the second quarter was improving as corporate earnings benefited from yen depreciation and price pass-through, but the recovery in economic conditions has stalled recently as the impact of higher prices weighed heavily on consumption. Overseas, the US economy remained resilient, while the Chinese economy lacked strength due to the sluggish property market and the European economy remained stagnant.」

「Overseas, the US economy has remained solid, while the Chinese economy continues to lack strength and the European economy remains stagnant.」

「Meanwhile, the outlook for economic conditions remains uncertain due to an economic downturn overseas, particularly in Europe, the United States and China, persistently high fuel and raw-material prices associated with elevated crude oil prices, and heightened geopolitical risks.」

「Meanwhile, the outlook for economic conditions remains uncertain due to the possibility of an economic slowdown overseas, particularly in Europe and the United States, persistently high fuel and raw-material prices associated with elevated crude oil prices, and heightened geopolitical risks related to the situation between Russia and Ukraine.」

「Meanwhile, the outlook for economic conditions remains uncertain due to persistently high fuel and raw-material prices associated with elevated crude oil prices, shortages of components, particularly semiconductors and electrical components, and heightened geopolitical risks related to the situation between Russia and Ukraine.」

「Although the effects of COVID-19 remained during the third quarter, the outlook for economic conditions became increasingly uncertain due to soaring raw-material prices, shortages of components, particularly semiconductors and electrical components, the situation between Russia and Ukraine, logistics disruptions, concerns about inflation in Europe and the United States and rising prices caused by yen depreciation.」

「Although the effects of COVID-19 remained during the second quarter, the outlook for economic conditions became increasingly uncertain due to soaring raw-material prices, shortages of components, particularly semiconductors and electrical components, the situation between Russia and Ukraine, disruptions to logistics and rising prices caused by yen depreciation.」

「Although the effects of COVID-19 remained during the first quarter, shortages of semiconductors and electrical components and soaring raw-material prices became more severe, increasing uncertainty surrounding the recovery in economic conditions.」

「Although Japan's economy during the third quarter remained in a difficult situation due to the effects of COVID-19, economic activity gradually showed signs of improvement, including a recovery in some manufacturing production activities and capital investment.」

「No new business or other risks arose during the six-month period ended in the second quarter. There were also no significant changes to the business or other risks described in the annual securities report for the previous fiscal year. The company will continue to closely monitor the impact of the spread of COVID-19 on its business.」

「Although the effects of the global spread of COVID-19 continued during the first quarter, expectations for improvement increased as signs of demand recovery emerged in some industries and vaccinations began.」

「Japan's economy during the fiscal year fell into an extremely severe situation due to restrictions on movement and the stagnation of economic activity caused by the global spread of COVID-19.」

「Japan's economy during the third quarter fell into an extremely severe situation as the global stagnation of economic activity caused by the spread of COVID-19 reduced exports and production, while personal consumption also declined sharply.」

「The novel coronavirus spread worldwide at an unprecedented speed, bringing the global economy to a standstill as lockdowns and travel bans halted economic activity around the world, resulting in a sharp deterioration in economic conditions.」

「Although expectations were rising for the effects of the phase-one agreement between the United States and China to reduce additional tariffs during the first quarter, the global spread of the novel coronavirus caused the economic environment to deteriorate rapidly.」

「The global economic environment remains highly uncertain due to US-China trade tensions and developments in the situation in the Middle East, and the company has no choice but to conclude that conditions will remain unpredictable for the time being.」

「As the slowdown in the global economy became more pronounced due to the effects of US-China trade tensions, uncertainty rapidly increased in Japan's economy during the third quarter.」

「Although current assessments of Japan's economy during the second quarter remained solid, uncertainty increased due to US-China trade tensions, the impact of US foreign policy on the global economy, changes in the situation in the Middle East and Brexit.」

「Although Japan's economy during the first quarter continued to recover moderately, uncertainty increased as differences in business sentiment across industries widened amid US-China trade tensions and reports of an economic slowdown in Europe.」

「The global economy is becoming increasingly uncertain as the effects of intensifying US-China trade tensions gradually spread.」

「Although Japan's economy during the nine-month period ended in the third quarter continued to recover moderately, the global economy became increasingly uncertain amid escalating US-China trade tensions.」

「Although Japan's economy during the six-month period ended in the second quarter continued to recover moderately, the global economy became increasingly uncertain due to political instability in Europe and the United States and geopolitical risks.」

「Although Japan's economy during the first quarter continued to recover moderately, uncertainty increased due to political instability in Europe and the United States and geopolitical risks.」

「Japan's economy during the fiscal year continued to expand moderately, and corporate capital investment remained solid. In addition, the expansion of the European and US economies and increased capital investment in China led to improved performance among export-related companies.」

「Although Japan's economy during the nine-month period ended in the third quarter continued to recover moderately, uncertainty increased due to changes in the political situations in Europe and the United States, a slowdown in emerging-market economies and rising geopolitical risks.」

「Although Japan's economy during the six-month period ended in the second quarter continued to recover moderately, uncertainty increased regarding overseas developments, including the policies of the new US administration and the political situation in Europe.」

「Although Japan's economy during the first quarter continued to recover moderately, uncertainty increased regarding overseas developments, including the policies of the Trump administration in the United States and the political situation in Europe.」

「Japan's economy during the fiscal year remained under growing uncertainty due to various factors, including the yen's appreciation since the beginning of the year, the slowdown in the Chinese economy, falling resource prices and issues involving the EU.」

「Although Japan's economy during the third quarter continued to recover moderately, uncertainty increased due to the yen's appreciation since the beginning of the year, international political developments, the slowdown in the Chinese economy and the global decline in resource prices.」

「In addition to the yen's appreciation since the beginning of the year, uncertainty has rapidly increased due to the slowdown in the Chinese economy and the global decline in resource prices.」