Economic stagnation caused by the global economic slowdown, yen appreciation and falling stock prices

「一方、中東情勢の混迷は長期化が懸念され、その影響は、石油由来の各種原材料価格の上昇のみならず、広く諸物価の上昇へと拡大しており、景気の先行きは依然として不透明な状況が続いております。」

「The business environment surrounding the Group remains unpredictable as domestic price increases have spread broadly, alongside soaring crude oil prices and supply concerns associated with rising tensions in the Middle East.」

「世界情勢に目を向けますと、イランを巡る中東情勢の緊迫化は国際社会における最大の不安定要素となりました。地政学リスクの高まりは、原油価格の高騰やエネルギー供給網への懸念を直撃し、輸送コストの上昇や物価高騰を再燃させる大きなリスクを孕んでおります。これに加え、米国の政策動向がもたらす不透明感など、経営環境の先行きは一段と厳しいものとなりました。」

「During the current interim consolidated accounting period, Japan's economy maintained a gradual recovery trend, supported by firm capital investment and employment conditions, although downward pressure on exports, particularly in the automobile industry, from US trade policy and sluggish personal consumption due to rising prices continued.」

「Private consumption continued to recover gradually due to sustained wage increases. Capital investment also increased for the first time in six months, partly because automobile sales recovered following the lifting of production and shipment suspensions after certification irregularities were discovered. In the transportation industry, domestic freight volumes remained sluggish, and the operating environment was challenging amid higher expenses resulting from efforts to address the 2024 problem and persistently high fuel prices.」

「The business environment surrounding the Group remains unpredictable. Although a recovery in the domestic economy is expected as supply-chain constraints caused by international conditions ease and inbound-related demand increases, soaring prices have spread broadly from raw materials to food products and other goods.」

「During the first nine months of the current fiscal year, Japan's economy showed a gradual recovery as economic activity normalized following the reclassification of COVID-19 to Category 5. However, uncertainty over the outlook persisted due to persistently high energy prices and soaring resource and material prices associated with the prolonged situation in Ukraine and worsening conditions in the Middle East.」

「During the first six months of the current fiscal year, Japan's economy was gradually returning to normal economic activity following the reclassification of COVID-19 from Category 2 to Category 5 and the removal of restrictions on activities. In addition, the effects of government economic policies contributed to a gradual recovery in the employment and income environment and capital investment. Personal consumption was weakening under the impact of rising prices and lower real wages. Prices continued to rise due to persistently high energy prices and soaring resource and material prices, and the economy remained in an uncertain condition.」

「During the first quarter of the current fiscal year, Japan's economy showed signs of recovery, including a recovery in personal consumption and capital investment, following the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5. However, the economic outlook remained uncertain as persistently high energy prices and soaring resource and material prices spread into broader price increases.」

「However, there is still no sign that the spread of the infection is subsiding. Against a backdrop of the ongoing instability in Ukraine and economic conditions characterized by yen depreciation, raw-material and energy prices have continued to rise, and the outlook for the domestic economy remains uncertain.」

「Meanwhile, the outlook remained uncertain due to soaring energy and raw-material prices resulting from geopolitical risks such as Russia's invasion of Ukraine, as well as the semiconductor shortage and rapid yen depreciation.」

「During the first quarter of the current fiscal year, measures aimed at economic recovery, such as the easing of entry restrictions based on trends in the number of COVID-19 cases, were expected to support Japan's economy. However, concerns remained that supply-chain constraints caused by international conditions and rising commodity prices would be prolonged, and uncertainty over the outlook persisted.」

「The business environment surrounding the Group remains unpredictable. Although a recovery in the domestic economy is expected as supply-chain constraints caused by sudden changes in international conditions ease, concerns remain about a downturn due to soaring crude oil and other commodity prices.」

「During the first nine months of the current fiscal year, Japan's economy had begun to recover gradually as COVID-19 vaccinations progressed, the number of new infections fell sharply, and the state of emergency and priority preventive measures were lifted in October. However, the outlook for the domestic economy remained uncertain as the Omicron variant, which is highly transmissible, spread rapidly in Japan, leading to the reintroduction of priority preventive measures in various areas, in addition to the impact of the semiconductor shortage on industries and soaring resource prices, including crude oil.」

「During the first six months of the current fiscal year, the global spread of COVID-19, which began last year, continued to rage, severely affecting people's lives, employment and corporate activity through measures such as requests to refrain from going out. Economic and consumer activity remained in an extremely challenging condition.」

「In the transportation industry, although there were signs of a recovery in transport demand, the outlook remained uncertain due to delays in recovery in some industries caused by the semiconductor shortage and concerns about soaring fuel prices.」

「The business environment surrounding the Group remains unpredictable. With no clear indication of when COVID-19 will subside, personal consumption and capital investment have remained sluggish due to the continued requests to refrain from activities.」

「During the first nine months of the current fiscal year, Japan's economy remained in a severe condition, particularly in terms of people's lives, employment and corporate activity, due to the spread of COVID-19. Although the resumption of economic activity after the state of emergency was lifted and economic measures such as the Go To Travel campaign provided a boost, the outlook remained uncertain as the path to an economic recovery could not be foreseen amid the renewed spread of the infection.」

「During the first six months of the current fiscal year, Japan's economy suffered a severe impact on people's lives, employment and corporate activity from the spread of COVID-19. Although economic activity resumed after the state of emergency was lifted on 25 May, the end of the spread of the infection remained out of sight, and a series of heavy rains in July caused extensive and severe damage, particularly in Kyushu, Chubu and Tohoku. The economic outlook therefore remained uncertain.」

「During the first quarter of the current fiscal year, Japan's economy rapidly deteriorated as requests to refrain from going out and traveling to prevent the spread of COVID-19 caused economic activity to stagnate, while corporate earnings and employment conditions deteriorated. At the same time, the global economy also deteriorated, and uncertainty over the outlook persisted.」

「The business environment surrounding the Group is becoming increasingly challenging. In addition to deteriorating domestic economic conditions due to the overseas economic slowdown and the consumption tax increase, economic activity in Japan is beginning to stagnate as the global spread of COVID-19 leads to voluntary suspension of business activities and the shutdown of production lines.」

「During the first nine months of the current fiscal year, Japan's economy remained on a gradual recovery track due to improvements in employment and the income environment, but the domestic economy continued to lack strength amid concerns about a downturn associated with the consumption tax increase. In addition, the economic outlook remained uncertain due to the impact on the global economy of US-China trade friction, the UK's departure from the EU, and political conditions in the Middle East, among other factors.」

「During the first six months of the current fiscal year, Japan's economy remained on a gradual recovery track due to improvements in corporate earnings and the employment and income environment. However, the economic outlook remained uncertain due to uncertainty in overseas conditions, including the prolonged US-China trade friction and the UK's departure from the EU.」

「During the first quarter of the current fiscal year, Japan's economy remained on a gradual recovery track as corporate earnings remained firm, employment conditions improved and personal consumption continued to recover. However, the outlook remained uncertain due to developments in trade issues and rising tensions in the Middle East, among other factors.」

「Japan's economic outlook is expected to remain uncertain due to uncertainty in overseas economies, including developments in trade issues and the slowdown in the Chinese economy, as well as the impact of volatility in financial and capital markets. In addition, a consumption tax increase is planned, and economic conditions are expected to remain unpredictable.」

「During the first nine months of the current fiscal year, Japan's economy remained on a gradual recovery track due to the effects of various policies and improvements in corporate earnings and the employment and income environment. However, uncertainty over the economic outlook persisted amid concerns about unstable political developments overseas and trade friction.」

「During the first six months of the current fiscal year, Japan's economy remained on a gradual recovery track due to improvements in corporate earnings and the employment and income environment. However, uncertainty over the economic outlook persisted amid concerns about unstable political developments overseas and trade friction.」

「During the first quarter of the current fiscal year, Japan's economy remained on a gradual recovery track, with improvements in corporate earnings and the employment and income environment, as well as a recovery in personal consumption, despite concerns about the impact of unstable international conditions, including US-China trade friction.」

「During the first nine months of the current fiscal year, Japan's economy remained on a gradual recovery track, with improvements in corporate earnings and the employment environment. However, the outlook remained uncertain due to developments in US policy management and the situation surrounding North Korea, among other factors.」

「During the first six months of the current fiscal year, Japan's economy remained on a gradual recovery track, with improvements in corporate earnings and the employment environment. However, the outlook remained uncertain due to developments in US policy management and the situation surrounding North Korea, among other factors.」

「Meanwhile, uncertainty over the outlook persisted due to concerns about the impact of political conditions in Europe and various US policies, among other factors.」

「During the first nine months of the current fiscal year, Japan's economy remained on a gradual recovery track, with signs of improvement in employment and a recovery in corporate capital investment. However, the outlook remained uncertain due to the slowdown in emerging-market economies, particularly China, and the UK's departure from the EU, among other factors.」

「During the first six months of the current fiscal year, Japan's economy remained on a gradual recovery track, with signs of improvement in employment and a recovery in corporate capital investment. However, the outlook remained uncertain due to the slowdown in emerging-market economies, particularly China, and the UK's departure from the EU, among other factors.」

「During the first quarter of the current fiscal year, Japan's economy became increasingly stagnant as concerns about an overseas economic slowdown, particularly in Europe and China, grew, while the yen appreciated and share prices fell.」