Economic Uncertainty Due to Policy Changes, Asian Economic Conditions, Natural Disasters, and Consumption Tax Increases

「Manufacturing costs have increased and sales per product item have tended to decline, resulting in lower profitability compared with the standalone results for the same period of the previous year.」

「During the interim consolidated accounting period under review, Japan's economy remained on a moderate recovery track, supported by improving employment and income conditions and solid inbound demand. However, the outlook remained extremely uncertain due to the impact on economic activity in Japan and overseas arising from the US administration's tariff policy and an unstable global situation, as well as continued increases in energy and raw material prices, among other factors.」

「During the fiscal year under review, Japan's economy showed signs of a moderate recovery due to improving employment conditions and the recovery in inbound demand, among other factors. However, the outlook remained extremely uncertain due to the impact on economic activity in Japan and overseas arising from international political instability and US tariff policy, unstable foreign-exchange market trends, and rising energy and raw material prices, among other factors.」

「The outlook has become extremely uncertain due to the impact of the Russia-Ukraine situation and the situation in the Middle East on economic activity in Japan and overseas, US tariff policies, sharp foreign exchange fluctuations, and rising energy and raw material prices.」

「In addition to the factors behind the decline in revenue described above, higher product procurement costs resulting from the weaker yen, higher raw-material costs amid high inflation and other factors led to revenue of ¥16,379.234 million for the current fiscal year, down 9.5% year on year; operating profit of ¥1,656.429 million, down 36.6%; ordinary profit of ¥1,600.144 million, down 37.1%; and net profit of ¥1,103.775 million, down 37.2%.」

「However, compared with the previous fiscal year, product procurement costs increased mainly due to the weaker yen and higher raw material costs amid high inflation. As a result, net sales for the cumulative third quarter amounted to ¥10,629.542 million, down 20.2% year on year; operating income was ¥714.430 million, down 63.6%; ordinary income was ¥672.013 million, down 64.8%; and quarterly net income was ¥459.752 million, down 65.2%.」

「However, compared with the previous fiscal year, the timing of product releases was concentrated in the second half of the current fiscal year, while product procurement costs increased mainly due to higher raw material costs amid high inflation. As a result, net sales for the cumulative second quarter amounted to ¥7,376.647 million, down 24.9% year on year; operating income was ¥466.178 million, down 72.5%; ordinary income was ¥430.454 million, down 73.5%; and quarterly net income was ¥293.043 million, down 73.9%.」

「Primarily due to higher product procurement costs resulting from rising raw material costs in a high-inflation environment, net sales for the cumulative first quarter were ¥3,472,592 thousand, down 27.2% year on year; operating profit was ¥127,626 thousand, down 86.2%; ordinary profit was ¥124,760 thousand, down 85.7%; and quarterly net profit was ¥81,330 thousand, down 86.5%.」

「Regarding the business environment surrounding the Company, the economy showed signs of a gradual recovery due to the easing of restrictions on activity related to COVID-19 and the resumption of entry by foreign tourists. However, the outlook is expected to remain uncertain due to the impact of the Russia-Ukraine situation on economic activity in Japan and overseas, unstable foreign exchange markets, and rising energy and raw material prices.」

「During the cumulative third quarter under review, Japan's economy became extremely uncertain due to concerns about the resurgence of COVID-19, the impact on economic activity in Japan and overseas arising from the situation in Russia and Ukraine, the rapid depreciation of the yen, and soaring energy and raw material prices, among other factors.」

「The outlook has become extremely uncertain due to concerns over the resurgence of COVID-19, the impact of the Russia-Ukraine situation on economic activity in Japan and overseas, the rapid depreciation of the yen, and soaring energy and raw material prices.」

「During the cumulative first quarter under review, Japan's economy became extremely uncertain due to the stagnation of economic activity caused by the spread of COVID-19, the impact on economic activity in Japan and overseas arising from the situation in Russia and Ukraine, and the rapid depreciation of the yen, among other factors.」

「During the fiscal year under review, the Japanese economy became extremely uncertain due to the stagnation of economic activity caused by the spread of COVID-19, as well as the impact of the Russia-Ukraine situation on economic activity in Japan and overseas.」

「During the cumulative third quarter under review, Japan's economy became extremely uncertain due to the stagnation of economic activity caused by the spread of COVID-19 and the impact on economic activity in Japan and overseas arising from the situation in Russia and Ukraine, among other factors.」

「The Japanese economy during the cumulative first quarter period became highly uncertain due to stagnation in economic activity caused by the spread of COVID-19.」

「Regarding the business environment surrounding the company, we expect uncertainty about the outlook to persist due to the global stagnation of economic activity associated with COVID-19, deteriorating corporate earnings and employment conditions, and other factors.」

「The Japanese economy during the cumulative third quarter period became highly uncertain due to concerns about the outlook for trade friction between the United States and China and stagnation in economic activity caused by the spread of COVID-19.」

「The Japanese economy during the cumulative second quarter period became highly uncertain due to concerns about the outlook for trade friction between the United States and China and stagnation in economic activity caused by the spread of COVID-19.」

「The Japanese economy during the cumulative first quarter period became highly uncertain due to concerns about the outlook for trade friction between the United States and China and stagnation in economic activity caused by the spread of COVID-19.」

「Regarding the business environment surrounding the company, we expect uncertainty about the outlook to persist due to the global stagnation of economic activity associated with COVID-19, deteriorating corporate earnings and employment conditions, and other factors.」

「During the cumulative third quarter under review, Japan's economy was on a moderate recovery track, supported by improving corporate earnings and employment conditions. However, the outlook became extremely uncertain due to prolonged concerns over the US-China trade friction and the UK's Brexit issue, as well as the stagnation of economic activity caused by the spread of COVID-19.」

「During the cumulative second quarter under review, Japan's economy remained on a moderate recovery track, supported by improving corporate earnings and employment conditions. However, uncertainty about the outlook persisted, including prolonged concerns over the US-China trade friction and the UK's Brexit issue.」

「During the cumulative first quarter under review, Japan's economy remained on a moderate recovery track, supported by improving corporate earnings and employment conditions. However, uncertainty about the outlook persisted, including prolonged concerns over the US-China trade friction and the UK's Brexit issue.」

「During the fiscal year, Japan's economy continued on a gradual recovery trend, supported by improvements in employment and income conditions. However, the outlook remained uncertain amid concerns over the impact of overseas economic trends on the domestic economy, including a slowdown in China's economy resulting from US-China trade frictions, the United States' protectionist trade policies and the effects of the United Kingdom's withdrawal from the European Union.」

「The Japanese economy during the cumulative third quarter period continued on a moderate recovery trend, but remained uncertain due to policy changes, particularly in the United States, trends in the Asian economy, large-scale natural disasters and the planned increase in the consumption tax rate.」

「Although Japan's economy continued on a gradual recovery trend during the cumulative second quarter, the business environment remained uncertain due to policy changes, particularly in the United States, economic trends in Asia, the occurrence of large-scale natural disasters, and potential future increases in the consumption tax rate.」