Risk of lower shipments and waste wood collection volumes due to the spread of COVID-19

「The domestic economy is expected to follow a path of gradual recovery, with the reclassification of COVID-19 as a Class 5 disease under the Infectious Diseases Control Law, prompted by the trend toward containment of the disease, serving as one catalyst. However, the outlook for the economy is expected to remain uncertain due to rising raw material prices and logistics costs, among other factors.」

「During the cumulative third quarter of the fiscal year, Japan's economy progressed toward normalization of social and economic activity following the lifting of COVID-19-related restrictions on movement. However, surging resource prices and inflation, driven by heightened geopolitical risks, have continued, and the outlook remains uncertain.」

「During the first half of the fiscal year, the Japanese economy showed signs of a recovery in private consumption as restrictions on activity related to COVID-19 were lifted and social and economic activity normalized. However, the outlook remained uncertain as resource prices and consumer prices continued to rise against a backdrop of heightened geopolitical risks.」

「During the first quarter of the current fiscal year, the Japanese economy was moving toward normalization of economic activity as restrictions on activities attributable to COVID-19 were lifted, but uncertainty about the outlook persisted due to soaring energy and raw material prices resulting from the prolonged situation in Ukraine, as well as fluctuations in foreign exchange rates.」

「Japan's economy during the consolidated fiscal year is expected to see a gradual recovery in demand as restrictions on activity imposed in response to COVID-19 are eased and economic activity moves toward normalisation. However, the outlook for the economy is expected to remain uncertain due to sharp exchange-rate fluctuations and resource prices resulting from the situation in Russia and Ukraine, among other factors.」

「During the cumulative third quarter of the fiscal year, Japan's economy showed signs of recovery as restrictions on economic activity related to COVID-19 were eased. However, the prolonged tensions surrounding Russia and Ukraine, together with higher prices for energy, raw materials and other goods caused by the weaker yen, have left the outlook uncertain.」

「During the first quarter of the fiscal year, although vaccination and other measures to prevent the spread of COVID-19 appeared to be having an effect, infections continued to recur intermittently due to variants. Concerns remained that the economic outlook would continue to be uncertain due to surging raw material prices and logistics costs resulting from international geopolitical instability and other factors.」

「The Group's business performance may be affected by the spread of COVID-19 through lower product shipments resulting from sluggish economic activity and lower collection of wood waste, among other factors.」

「Concerns about breakthrough infections and the emergence of new, highly transmissible virus variants mean that the timing of the end of the COVID-19 pandemic remains uncertain.」

「During the first half of the fiscal year, economic activity in Japan continued to be restricted due to the impact of COVID-19. However, signs of a recovery began to emerge, despite some weakness, due to the effects of various policies, including thorough infection-prevention measures and the promotion of vaccinations, as well as improvements in overseas economies.」

「The Group has been promoting sales of its core product, particleboard for condominium flooring, hereinafter referred to as PB, while launching PB for long-length structural panels, Wall Musha, and PB for flooring, among other products, and developing sales activities aimed at increasing revenue. It has also strengthened development and reduced manufacturing costs. However, the difficult situation has continued, including production adjustments at the Shinkiba Recycling Plant in response to lower sales volumes resulting from the impact of COVID-19 and other factors.」

「The Group's business performance may be affected by the spread of COVID-19 through lower product shipments resulting from sluggish economic activity and lower collection of wood waste, among other factors.」

「Although some restrictions on personal consumption and corporate activity introduced as COVID-19 countermeasures have been eased, the outlook for the economy is expected to remain uncertain due to a renewed increase in infections, which could be described as a third wave. However, the difficult operating environment has continued, including production adjustments at the Shinkiba Recycling Plant in response to lower sales volumes.」

「However, amid these business conditions, difficult conditions have continued, including production adjustments at the Shinkiba Recycling Plant in response to declining sales volumes.」

「During the first quarter of the current fiscal year, Japan's economy remained in an extremely difficult situation, with personal consumption and corporate activity severely restricted by the spread of the novel coronavirus, causing a rapid deterioration in economic conditions. However, the difficult operating environment has continued, including production adjustments at the Shinkiba Recycling Plant in response to lower sales volumes.」

「The Group's business performance may be affected by the spread of COVID-19 through lower product shipments resulting from sluggish economic activity and lower collection of wood waste, among other factors.」