Risk of uncertainty in overseas economic conditions weighing on the domestic economy

「Uncertainty about the outlook continues, including the impact of the situation in the Middle East, volatility in financial and capital markets, and developments in U.S. trade policy.」

「During the third quarter cumulative consolidated period, Japan's economy was on a gradual recovery trend, despite some signs of stagnation. However, uncertainty about the outlook continued due to the effects of global monetary tightening and concerns about the Chinese economy and the situation in the Middle East.」

「During the second quarter cumulative consolidated period, Japan's economy was on a gradual recovery trend, despite some signs of stagnation. However, uncertainty about the outlook continued due to the effects of global monetary tightening and concerns about the Chinese economy and the situation in the Middle East.」

「In the U.S. solar cell-related market, which is the primary market served by our equipment-related business, long-term market growth is expected, supported by government policy, and solar cell manufacturers are stepping up capital investment to expand production capacity and conduct research and development.」

「During the cumulative consolidated period, Japan's economy gradually recovered, but energy prices and raw material costs continued to rise. The global economic outlook remained uncertain, with concerns about a recession arising from monetary tightening in various countries.」

「During the second quarter cumulative consolidated period, Japan's economy continued to show signs of a gradual recovery, but energy prices and raw material costs continued to rise, as did component prices and lead times. The global economic outlook remained uncertain, with concerns about a recession arising from monetary tightening in various countries.」

「Japan's economy continued to show signs of a gradual recovery, but energy prices and raw material costs continued to rise, as did component prices and lead times. In the global economy, the outlook remained uncertain, with concerns about a recession arising from monetary tightening to contain recent inflation.」

「However, the record depreciation of the yen and rising prices and energy costs are affecting the economy as a whole. In the global economy, shortages and longer lead times for various products originating with semiconductor-related products, as well as higher raw material costs, have continued. The outlook is also uncertain due to policy rate increases in Europe and the United States and elsewhere in response to inflation risks.」

「During the third quarter cumulative consolidated period, conditions in Japan gradually eased after the spread of COVID-19 variants subsided, and signs of a recovery in capital investment and corporate earnings were seen in the manufacturing sector and elsewhere. At the same time, the entire economy was affected by the record depreciation of the yen. In the global economy, shortages and longer lead times for various products originating with semiconductor-related products, higher raw material costs and soaring energy prices continued to affect a broad range of industries.」

「During the second quarter cumulative consolidated period, Japan's economy was gradually recovering, with signs of a recovery in capital investment and corporate earnings in the manufacturing sector and elsewhere. However, the outlook remained uncertain, as the spread of new COVID-19 variants led to priority preventive measures to prevent the spread of the disease being implemented in some regions. The global economy was also affected across a broad range of industries by continuing shortages and longer lead times for various products originating with semiconductor-related products, as well as higher raw material and oil prices.」

「Regarding the impact of COVID-19 on our group, visa issuance for on-site work was restricted for some overseas projects in our equipment-related business, and employees had to undergo a period of self-isolation after returning to Japan. This made it difficult to perform all work by dispatching our employees, but we responded by outsourcing part of the work to local companies. As of now, the impact on operating results is minor.」

「During the third quarter cumulative consolidated period, Japan's economy remained in a difficult situation. Although signs of a recovery in capital investment and corporate earnings were seen, particularly in the manufacturing sector, personal consumption and employment conditions remained weak. The global economy also remained difficult to assess, with COVID-19 making the outlook uncertain.」

「During the second quarter cumulative consolidated period, Japan's economy remained in a difficult situation, with capital investment trending downward due to the renewed spread of COVID-19. In addition, a state of emergency was declared again in January 2021, restricting economic activity. The global economy was also affected by the renewed spread of COVID-19 in countries around the world, and uncertainty about the outlook remained unresolved.」

「During the first quarter cumulative consolidated period, Japan's economy remained in a difficult situation, with employment conditions and capital investment trending downward due to the impact of COVID-19, and uncertainty about the outlook caused by a resurgence of infections remained unresolved. The global economy also remained in a difficult situation, with economic activity being curtailed in some regions due to renewed outbreaks of COVID-19.」

「In the markets related to our equipment-related business, particularly solar cell manufacturing equipment, market growth, which had continued at a high level, temporarily slowed because personnel could not be arranged for power plant installation work to prevent the spread of COVID-19, physically restricting the work.」

「If restrictions on business activities or other economic impacts arise in connection with the future spread of COVID-19, they may adversely affect the operating results and financial condition of our group.」

「The domestic economy became increasingly stagnant due to a decline in personal consumption following the consumption tax rate increase implemented in October, weakness in exports and capital investment in the manufacturing sector, and the spread of the novel coronavirus through the end of the second quarter. In the global economy as well, in addition to the continuation of unstable conditions such as US-China trade friction, the impact of the novel coronavirus expanded, making the outlook difficult to assess.」

「Although it remains necessary to monitor developments concerning trade issues, the outlook for the Chinese economy and the UK's withdrawal from the EU, a gradual recovery in the global economy is expected.」

「Although it remains necessary to monitor developments in and the impact of trade issues between the United States and China, the impact of volatility in financial and capital markets and other factors in the global economy, a gradual recovery is expected to continue.」

「Although it remains necessary to monitor developments in and the impact of trade issues between the United States and China, the impact of volatility in financial and capital markets and other factors in the global economy, a gradual recovery is expected to continue.」

「Although trade friction posed a downside risk to overseas economies, a gradual recovery trend continued.」

「Although some uncertainty remains regarding the policies of the United States, China and other major regions in the future solar cell market, the economics of solar power generation are expected to improve further, and global solar cell installations are expected to continue increasing over the long term.」

「Meanwhile, uncertainty in overseas economies and volatility in financial and capital markets became risks of worsening the domestic economy.」

「Meanwhile, uncertainty in overseas economies and volatility in financial and capital markets became risks weighing on the domestic economy.」

「However, a downturn in the economies of emerging Asian countries, resource-rich countries and other overseas markets is posing a risk of weighing on the domestic economy.」

「However, uncertainty in overseas economies continues to pose a risk of weighing on the domestic economy.」