Uncertainty over the economic outlook due to a slowdown in emerging economies and yen appreciation

「当第１四半期連結会計期間における企業倒産件数は前年同期比6.6％増加の2,698件（帝国データバンク調べ）となりました。」

「Close attention must be paid to the impact of the situation in the Middle East, volatility in financial and capital markets, and developments surrounding US trade policy, and the uncertain economic environment is expected to persist.」

「中東情勢を巡る地政学的不確実性もあり、今後も企業倒産件数は増加基調が続く見通しとなっております。」

「The operating environment surrounding small and medium-sized enterprises remains severe, with bankruptcies caused by high prices and labor shortages reaching record highs, and the number of corporate bankruptcies is expected to continue increasing.」

「The risk of an economic downturn due to the impact of US trade policy is increasing. In addition, the continued rise in prices poses a risk of putting downward pressure on Japan's economy through such effects as a deterioration in consumer sentiment and personal consumption, and the uncertain economic environment is expected to persist.」

「During the current consolidated fiscal year, Japan's economy has been recovering moderately, although some areas have recently shown signs of stagnation. However, a downturn in overseas economies, including the impact of global monetary tightening and concerns over the outlook for the Chinese economy, poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices, developments in the Middle East, and volatility in financial and capital markets.」

「During the third quarter of the current consolidated cumulative period, Japan's economy has been recovering moderately as the severe conditions caused by COVID-19 gradually eased, although some areas have recently shown signs of stagnation. The outlook is expected to continue recovering moderately as employment and income conditions improve, supported by the effects of various policies. However, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices and volatility in financial and capital markets.」

「During the second quarter of the current consolidated cumulative period, Japan's economy has been recovering moderately as the severe conditions caused by COVID-19 gradually eased. The outlook is expected to continue recovering moderately as employment and income conditions improve, supported by the effects of various policies. However, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices and volatility in financial and capital markets.」

「During the first quarter of the current consolidated cumulative period, Japan's economy has been recovering moderately as the severe conditions caused by COVID-19 gradually eased. The outlook is expected to continue recovering moderately as employment and income conditions improve, supported by the effects of various policies. However, as global monetary tightening and other factors continue, a downturn in overseas economies poses a risk of putting downward pressure on Japan's economy. Close attention must also be paid to the effects of rising prices and volatility in financial and capital markets.」

「As global monetary tightening and other factors continue, the outlook remains uncertain due to rising raw material prices and supply-side constraints.」

「However, as global monetary tightening and other factors continue, the outlook remains uncertain due to rising raw material prices and supply-side constraints.」

「However, as the situation in Ukraine remains prolonged and global monetary tightening continues, the outlook remains uncertain due to rising raw material prices and supply-side constraints.」

「During the first quarter of the current consolidated cumulative period, the severe conditions caused by COVID-19 gradually eased and signs of a recovery emerged in Japan's economy. Although the outlook for the economy is expected to continue recovering as infection-control measures are fully implemented and economic and social activity moves toward normalization, supported by the effects of various policies and improvements in overseas economies, the outlook remains uncertain due to rising raw material prices and supply-side constraints amid concerns over the prolonged situation in Ukraine and the impact of restrictions on economic activity in China.」

「The Cabinet Office's monthly economic report released in March stated that "although the economy continues to show signs of recovery, some weakness is evident amid the lingering severe conditions caused by COVID-19." Amid uncertainty surrounding the situation in Ukraine and other factors, rising raw material prices and supply-side constraints pose risks of putting downward pressure on domestic and overseas economies, and the uncertain economic environment is expected to persist.」

「During the third quarter of the current consolidated cumulative period, the severe conditions caused by COVID-19 gradually eased and signs of a recovery emerged in Japan's economy. Although the outlook for the economy is expected to continue recovering as infection-control measures are fully implemented and economic and social activity continues, supported by the effects of various policies and improvements in overseas economies, the outlook remains uncertain.」

「During the second quarter of the current consolidated cumulative period, Japan's economy remained in a severe situation due to the impact of COVID-19, but signs of a recovery have recently emerged. Although the outlook for the economy is expected to continue recovering as thorough infection-control measures are implemented and vaccinations are promoted, supported by the effects of various policies and improvements in overseas economies, weakness has increased in some areas and the outlook remains uncertain.」

「During the first quarter of the current consolidated cumulative period, Japan's economy remained in a severe situation due to the impact of COVID-19, but signs of a recovery have recently emerged. Although the outlook for the economy is expected to continue recovering as measures to prevent the spread of infection are implemented and vaccinations are promoted, supported by the effects of various policies and improvements in overseas economies, weakness has increased in some areas and the outlook remains uncertain.」

「However, as concerns grow over the arrival of a fourth wave of infections, the outlook remains uncertain.」

「During the third quarter of the current consolidated cumulative period, Japan's economy was in an extremely severe situation due to the impact of COVID-19. However, broad-based financial support measures were implemented for small and medium-sized enterprises and others suffering poor performance. The number of approvals for credit guarantees by credit guarantee associations, which are a prerequisite for effectively interest-free and unsecured loans, totaled approximately 1.45 million during April-November, with approved amounts reaching approximately ¥26 trillion. Both figures expanded rapidly to levels exceeding the results for fiscal 2008, when the global financial crisis occurred (according to the National Federation of Credit Guarantee Corporations).」

「During the second quarter of the current consolidated cumulative period, Japan's economy was in an extremely severe situation due to the impact of COVID-19. However, broad-based financial support measures were implemented for small and medium-sized enterprises and others suffering poor performance. The number of approvals for credit guarantees by credit guarantee associations, which are a prerequisite for effectively interest-free and unsecured loans, totaled approximately 1.2 million during April-August, with approved amounts reaching approximately ¥22 trillion. Both figures expanded rapidly to levels at which the approved amount had already exceeded the total for fiscal 2008, when the global financial crisis occurred (according to the National Federation of Credit Guarantee Corporations).」

「During the first quarter of the current consolidated cumulative period, Japan's economy deteriorated rapidly as the spread of COVID-19, along with calls for people to refrain from going out and requests for business closures from March onward, and the state of emergency declared in April restricted personal consumption and corporate activity.」

「Japan's economy has come under substantial downward pressure from the effects of the COVID-19 pandemic, which became pronounced from February 2020, and the outlook is expected to remain unpredictable.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to developments surrounding trade issues, the outlook for the Chinese economy, the UK's withdrawal from the EU, and other developments in overseas economies.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to the impact of rising tensions surrounding trade issues on the global economy and uncertainty in overseas economies.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to the impact of trade issues, uncertainty in the global economy, including China, and volatility in financial markets.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to concerns over the outlook for the Chinese economy stemming from US-China trade friction and rising geopolitical risks.」

「Meanwhile, the outlook for Japan's economy remains uncertain as the US-China trade friction has intensified, a slowdown in consumption in the Chinese economy has become more pronounced, and uncertainty in overseas economies continues to have an impact.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to the impact of trade issues on the global economy and uncertainty in overseas economies.」

「Meanwhile, the outlook for Japan's economy remains uncertain, affected by uncertainty surrounding overseas economies and policies.」

「Meanwhile, the outlook for Japan's economy remains uncertain, affected by uncertainty surrounding overseas economies and policies.」

「Meanwhile, the outlook for Japan's economy remains uncertain, affected by uncertainty surrounding overseas economies and policies.」

「Meanwhile, the outlook for Japan's economy remains uncertain, affected by uncertainty surrounding overseas economies and policies.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to unstable political developments overseas and rising geopolitical risks.」

「Meanwhile, the outlook for Japan's economy remains uncertain due to the impact of rising interest rates in the United States and the outlook for emerging Asian economies, including China.」

「Meanwhile, the outlook for Japan's economy remains uncertain, affected by growing uncertainty in overseas economies and volatility in financial and capital markets.」

「Meanwhile, weakness is evident in overseas economies, and concerns over downside risks in China and other emerging Asian economies, as well as growing uncertainty in overseas economies stemming from issues such as the UK's withdrawal from the EU, have left the outlook for Japan's economy uncertain.」

「In addition to the slowdown in emerging-market economies, led by China, growing concerns over deteriorating corporate performance due to the yen's appreciation since the start of the year have made the outlook for Japan's economy uncertain.」