A Challenging Business Environment Due to Soaring Raw Material Prices

「一方で、中東情勢の緊張継続による資源・資材価格の一段の上昇や納期長期化懸念に加え、労働市場の需給逼迫といった供給制約要因も継続しており、企業の収益環境は不安定性も内包しております。」

「In addition to resources and materials prices remaining elevated and the continued upward trend in various costs, risks including instability in raw material delivery times and further tightening of the labor market are increasing. We believe that the uncertain situation, which leaves little room for complacency, will not be dispelled for the time being.」

「今後のわが国経済は、個人消費が雇用・所得環境の改善を背景に底堅く推移していること等を背景に、総じて緩やかな成長が見込まれます。一方で、中東情勢の影響を受けた原油価格上昇を背景に資源・資材価格を始めとする各種コストの一段の上昇や、原材料納期の不安定化、労働市場の更なるタイト化等のリスクも高まっており、当面、予断を許さない不透明な状況は払拭されないものと考えられます。」

「During the interim period under review, Japan's economy showed improvements in business confidence, including an increase in the manufacturing DI in the September 2025 Tankan survey compared with the previous survey, as caution receded following the Japan-U.S. agreement on tariff negotiations. However, supply constraints, including persistently high resource and material prices and tight supply and demand in the labor market, continued, leaving companies' earnings environment unstable.」

「Resources and materials prices remaining elevated and the continued upward trend in various costs」

「Although delays in the supply of production materials caused by supply chain disruptions are improving, procurement remains unstable for some materials and material costs continue to rise.」

「In manufacturing as well, delays in the supply of production materials caused by supply chain disruptions are showing signs of improvement, but procurement remains unstable in some areas and material costs continue to rise.」

「Although manufacturing costs continued to trend upward due to soaring purchase prices, profit margins increased year on year as a result of improved production efficiency and higher sales.」

「In terms of profit, profit margins decreased due to lower sales, deterioration in production efficiency caused by delays in the supply of production materials, higher manufacturing costs resulting from soaring purchase prices, and increased development expenses.」

「In terms of profit and loss, results remained on a declining trend due to lower sales, deterioration in production efficiency caused by delays in the supply of production materials, higher manufacturing costs resulting from soaring purchase prices, and increased expenses related to development investment.」

「Meanwhile, uncertainty in the domestic economy continues to increase due to soaring energy and raw material prices following the prolonged situation in Ukraine and rapid, substantial fluctuations in the yen exchange rate.」

「Meanwhile, uncertainty in the domestic economy continues to increase due to soaring energy and raw material prices following the prolonged situation in Ukraine and the rapid and substantial depreciation of the yen.」

「However, uncertainty about the outlook continues due to soaring energy and raw material prices following the prolonged situation in Ukraine and the rapid depreciation of the yen.」

「With no clear end in sight to the disruption of the global economy caused by the winding down of COVID-19 and Russia's invasion of Ukraine, challenging economic conditions, including shortages of production materials and soaring raw material prices, continue.」