Higher fuel costs due to rising crude oil prices

「Although a gradual recovery is expected in the future economic environment due to improvements in employment and income conditions, the outlook is expected to remain uncertain, owing to factors including fluctuations in resource prices resulting from the prolonged instability of the international situation.」

「The outlook remains uncertain due to continued price increases, persistently high energy costs, and concerns over U.S. trade policy, among other factors.」

「During the interim consolidated accounting period (1 April 2024 to 30 September 2024), Japan's economy saw corporate economic activity and personal consumption gradually recover as social and economic activity returned to normal and employment and income conditions improved. However, the outlook remains uncertain due to recessionary risks, including persistently high raw material and energy costs amid the yen's depreciation, continued global monetary tightening, and concerns over a downturn in overseas economies.」

「Meanwhile, unstable conditions continue, including the prolonged situation in Ukraine and escalating tensions in the Middle East. Against this backdrop, the outlook remains uncertain due to soaring raw material and energy prices, rising prices, and sharp fluctuations in financial and foreign exchange markets.」

「During the cumulative second quarter of the fiscal year, Japan's economy showed signs of a gradual recovery as social and economic activity continued to return to normal following the reclassification of COVID-19 as a Class 5 infectious disease. At the same time, downside risks to the global economy are becoming more apparent, including soaring raw material and energy prices against the backdrop of the situation in Ukraine, rising prices, sharp fluctuations in financial and foreign exchange markets, and stagnation in the Chinese economy. The outlook therefore remains uncertain.」

「During the cumulative first quarter of the fiscal year, Japan's economy has been gradually recovering, with corporate economic activity and personal consumption picking up moderately following the easing of restrictions on activities related to COVID-19. However, the outlook remains uncertain amid unstable international conditions, including the prolonged economic sanctions related to the conflict in Ukraine, rising resource and grain prices, and accelerating inflation driven by the yen's depreciation.」

「The outlook remains uncertain, with soaring raw material and energy prices due to the protracted situation in Ukraine, inflation resulting from the rapid depreciation of the yen, and sharp fluctuations in financial and foreign exchange markets continuing.」

「The difficult operating environment continues, with risks of a downturn in the global economy, including soaring raw material and energy prices due to developments in Ukraine, inflation and volatility in financial and foreign exchange markets, becoming increasingly apparent. Continued monitoring is required.」

「If domestic or international developments, including sharp foreign exchange fluctuations, the impact of economic sanctions stemming from the conflict in Ukraine, stagnation in economic activity due to the spread of infectious diseases, fluctuations in resource prices such as energy, and shifts in energy policy, affect the business activities or management strategies of major customers, they could affect the operating results of the Group.」

「Concerns over the spread of new COVID-19 variants have not been dispelled, and continued vigilance is required regarding the impact of soaring raw material prices and semiconductor supply shortages.」

「The outlook remains uncertain, with delays in containing infections in Asia, a continuing global semiconductor supply shortage and persistently high raw material prices.」

「Accordingly, if domestic or international developments, including the impact of U.S.-China trade friction, stagnation in economic activity due to the spread of infectious diseases, fluctuations in resource prices such as energy, and shifts in energy policy, affect the business activities or management strategies of major customers, they could affect the operating results of the Group.」

「In addition, if domestic or international developments, including fluctuations in resource prices such as energy and shifts in energy policy, affect the business activities or management strategies of major customers, they could affect the operating results of the Group.」

「If crude oil prices surge due to developments in the global economy, political conditions in oil-producing countries or other factors, fuel prices could rise sharply, potentially adversely affecting operating performance.」

「Concerns over higher raw material costs due to rising crude oil prices and trade friction originating in the United States persist, and the outlook remains uncertain.」

「If crude oil prices surge due to developments in the global economy, political conditions in oil-producing countries or other factors, fuel prices could rise sharply, potentially adversely affecting operating performance.」

「If crude oil prices surge due to developments in the global economy, political conditions in oil-producing countries or other factors, fuel prices could rise sharply, potentially adversely affecting operating performance.」

「If crude oil prices surge due to developments in the global economy, political conditions in oil-producing countries or other factors, fuel prices could rise sharply, potentially adversely affecting operating performance.」