Business Shutdowns and Supply Chain Disruptions Caused by Infectious Diseases, Natural Disasters and Other Events

「If unforeseen large-scale natural disasters such as earthquakes, tsunamis and floods, accidental disasters such as fires, infectious disease outbreaks, social disruption caused by other factors or similar events result in the suspension of the Group's or its major business partners' activities or hinder business continuity, the Group's operating results, financial position and other matters may be affected.」

「As COVID-19 was reclassified as a Category 5 disease under the Infectious Diseases Control Law and economic activity moved toward normalization, a gradual recovery continued in corporate earnings, capital investment, production and personal consumption.」

「During the nine-month period ended 31 December, the Japanese economy saw a mitigation of the severe conditions caused by COVID-19 and progress toward the normalization of social and economic activity. However, the outlook remained uncertain due to sharp fluctuations in foreign exchange rates, higher resource prices stemming from the situation in Ukraine, and supply chain disruptions caused by the initial lockdown in China and the subsequent rapid spread of infections there.」

「In the construction industry surrounding the group, public and private-sector investment remained firm and the order environment was favorable, but the operating environment remained challenging on the supply side as the effects of soaring construction material prices, delivery delays, and other factors persisted.」

「In the construction industry surrounding the group, public and private-sector investment remained firm and the order environment was favorable, but the operating environment remained challenging on the supply side as the effects of soaring construction material prices, delivery delays, and other factors persisted.」

「In the construction industry surrounding the Group, private-sector capital investment began to resume as corporate earnings showed signs of recovery. However, the earnings environment remains challenging due to the impact of semiconductor shortages on merchandise procurement and persistently high labor costs resulting from a chronic shortage of engineers. / Net sales were ¥76,766 million, down 2.0% year on year, as some construction projects experienced delayed starts and progress due to the nationwide semiconductor shortage.」

「During the six-month period ended 30 September, the Japanese economy remained subject to significant restrictions on economic activity as declarations of a state of emergency and priority preventive measures were implemented in various areas in response to the resurgence of COVID-19. However, expectations for an economic recovery ahead have been growing, supported by the effects of various government policies, progress in domestic vaccination and improvements in overseas economies.」

「During the cumulative first quarter of the current consolidated fiscal year, the Japanese economy remained uncertain, as the spread of COVID-19 led to the issuance of a state of emergency and the implementation of priority preventive measures, among other steps, and restrictions on economic activity continued.」

「During the current consolidated fiscal year, the Japanese economy was in an extremely difficult situation because social and economic activity was rapidly slowing as a result of the effects of two declarations of a state of emergency due to the spread of COVID-19.」

「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy was in an extremely difficult situation due to the rapid slowdown in social and economic activity caused by the spread of COVID-19. Although personal consumption had begun to show signs of recovery after the state of emergency was lifted in May, the outlook is expected to remain uncertain for the time being due to the rapid spread of infections since December.」

「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy was in an extremely difficult situation due to the rapid slowdown in social and economic activity caused by the spread of COVID-19. Although signs of a recovery have emerged in recent economic activity as operations resume, close attention must continue to be paid to the impact of infectious diseases on the domestic and overseas economies, and the outlook is expected to remain uncertain for the time being.」

「During the cumulative first quarter of the current consolidated fiscal year, the Japanese economy remained in an extremely difficult situation due to the spread of COVID-19. Following the lifting of the state of emergency, economic activity is expected to recover gradually as it resumes, supported by the effects of various policies, but the outlook remains uncertain due to factors including a second wave of COVID-19 and volatility in the financial and capital markets.」

「If an unexpected large-scale natural disaster such as an earthquake, tsunami or flood, an accident-related disaster such as a fire, an infectious disease outbreak or other social disruption occurs, resulting in the suspension of business activities or an impediment to business continuity for the Group or its major business partners, the Group's operating results and financial condition may be affected. COVID-19 is currently spreading worldwide, and the Group is implementing efficient business operations, including thorough hygiene management, staggered working hours and remote work, to prevent the spread of infection. However, if infections spread further, the Group's business operations, financial condition and operating results may be affected by supply chain disruptions, delays in construction progress and other factors.」