Sharp Rise in Resource Prices and Global Instability Resulting from the Russia-Ukraine Situation

「During the fiscal year, the global economy remained resilient overall, but uncertainty over the outlook increased as a result of additional tariffs imposed by the US, rising geopolitical risks, and the continued economic slowdown in China and Southeast Asia.」

「The situation in the Middle East is assumed to be resolved relatively quickly. However, considerable uncertainty remains in the business and industry environments, including developments in the region, and if it becomes necessary to revise the earnings forecast due to changes in the business environment or other factors, we will disclose the revision promptly.」

「Although the global economy as a whole continued to recover steadily during the interim consolidated period, uncertainty persisted due to the ongoing war in Ukraine, the unresolved conflict in the Middle East, and economic slowdowns in China and Southeast Asia. However, tariff negotiations with the United States finally reached an agreement, resulting in some easing of uncertainty.」

「During the fiscal year, the global economy continued to recover steadily overall, but uncertainty over the outlook persisted due to the ongoing war in Ukraine, continued conflict in the Middle East, a slowdown in China, and concerns over policies by the new US administration, including tariffs.」

「During the consolidated fiscal year, the global economy continued to recover moderately as economic activity normalized, but uncertainty persisted due to the prolonged war in Ukraine, emerging geopolitical risks in the Middle East, a slowdown in the Chinese economy, and persistently high resource and energy prices, among other factors.」

「During the nine months ended in the third quarter, the normalization of economic activity supported a gradual recovery, but uncertainty over the outlook continued due to the prolonged war in Ukraine, heightened tensions in the Middle East, elevated resource and energy prices, persistently high inflation, and a slowdown in China.」

「The outlook remained uncertain due to surging resource and energy prices and rising consumer prices resulting from Russia's invasion of Ukraine, among other factors.」

「Although the global economy during the cumulative consolidated third quarter continued to show signs of recovery, shortages of semiconductors and other components and the impact of the Shanghai lockdown continued from the previous fiscal year. In addition, the prolonged deterioration of international conditions surrounding Ukraine means that higher raw material costs, resource and energy prices, and ocean freight costs are expected to take time to subside, and instability continues to persist.」

「In addition to the continuing shortages of semiconductors and other components and the impact of the Shanghai lockdown, worsening international conditions surrounding Ukraine mean that higher raw material costs, resource and energy prices, and ocean freight costs are expected to take time to subside, and instability continues to persist.」

「In addition, due to worsening international conditions surrounding Ukraine, higher raw material prices and elevated ocean freight costs are expected to take time to subside, leaving the outlook for the global economy uncertain.」

「The business environment surrounding the automotive industry is becoming increasingly uncertain, as surging resource prices and growing global instability resulting from heightened tensions over Russia and Ukraine have compounded existing challenges.」