Manufacturing and Supply Constraints Caused by Large-Scale Natural Disasters and Social Unrest

「当中間会計期間（2026年４月１日から2026年９月30日まで）における国内経済は、中東情勢の混乱による影響を受けつつも、総じて緩やかな成長傾向にあります。」

「Global economic growth is expected to slow to 3.1% in 2026 and 3.2% in 2027 due to factors including disruption caused by the conflict in the Middle East and heightened geopolitical tensions.」

「一方で、海外の経済・物価動向、資源価格の動向、金融・為替市場の動向、地政学的リスクの動向などにより、依然として先行きの不確実性が高い状況が続くものと思われます。」

「If an unforeseen major natural disaster, a change in political or economic conditions, an outbreak of an infectious or communicable disease, terrorism, war or other disruption of social conditions occurs, business activities may be constrained in some way, disrupting the manufacture and supply of products and potentially having a material impact on our financial condition, operating results and other matters.」

「During the cumulative third quarter period under review, normalization of socioeconomic activity following the reclassification of COVID-19 to Category 5 and the recovery of inbound demand became pronounced in Japan. However, concerns about a slowdown in the global economy remain against a backdrop of global inflation and monetary tightening in various countries, and uncertainty about the outlook continues. Meanwhile, although urban redevelopment projects and other construction activity continue nationwide, construction trends affecting the company's operating results remain unpredictable, as prolonged conditions in Ukraine and the Middle East and changes in domestic and overseas interest-rate policies may affect Japanese companies' willingness to invest in construction.」

「During the cumulative second-quarter period, social and economic activity normalized and inbound demand and other forms of demand recovered markedly following the reclassification of COVID-19 to Class 5 under Japan’s Infectious Diseases Control Law. However, concerns remain about a slowdown in the global economy against a backdrop of worldwide inflation and monetary tightening in various countries, and the outlook remains uncertain.」

「During the cumulative first-quarter period from 1 April 2023 to 30 June 2023, the Japanese economy remained uncertain due to factors including exchange-rate fluctuations, slowing overseas economies, higher resource prices and the situation in Ukraine, although the impact of COVID-19 was easing.」

「If an unforeseen major natural disaster, a change in political or economic conditions, an outbreak of an infectious or communicable disease, terrorism, war or other disruption of social conditions occurs, business activities may be constrained in some way, disrupting the manufacture and supply of products and potentially having a material impact on our financial condition, operating results and other matters.」

「During the cumulative third quarter period under review (1 April 2022 to 31 December 2022), the Japanese economy remained highly uncertain due to sharp exchange-rate fluctuations, higher resource prices and supply-side constraints, and geopolitical factors including the situation in Ukraine, despite the gradual easing of restrictions associated with COVID-19.」

「During the cumulative second quarter period under review (1 April 2022 to 30 September 2022), the Japanese economy remained uncertain due to sharp exchange-rate fluctuations, higher resource prices and supply-side constraints, and stagnation in economic activity resulting from Russia's invasion of Ukraine, despite the gradual easing of restrictions associated with COVID-19.」

「During the cumulative first quarter period, from 1 April 2022 to 30 June 2022, Japan's economy remained uncertain going forward due to sharp foreign exchange fluctuations, higher resource prices and supply-side constraints, and stagnation in economic activity following Russia's invasion of Ukraine, although restrictions related to COVID-19 were gradually eased.」

「There were no new business risks or material changes to the business risks described in the securities report for the previous fiscal year during the cumulative third quarter period.」

「During the six months ended [current first quarter], there was no emergence of new business or other risks, nor any material change in the business or other risks described in the annual securities report for the previous fiscal year.」

「In addition, to prepare for unforeseen circumstances, we are taking steps to respond, including establishing an emergency contact network for employees.」

「There were no new business risks or material changes to the business risks described in the securities report for the previous fiscal year during the cumulative third quarter period.」

「During the cumulative second-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」

「During the six months ended [current first quarter], there was no emergence of new business or other risks, nor any material change in the business or other risks described in the annual securities report for the previous fiscal year.」

「If an unforeseen major natural disaster, a change in political or economic conditions, an outbreak of an infectious or communicable disease, terrorism, war or other disruption of social conditions occurs, activity at affected business locations may be constrained in some way, disrupting the manufacture and supply of products and potentially having a material impact on our financial condition, operating results and other matters.」