Economic fluctuations in manufacturing and building maintenance, and the risk of declining demand

「During the interim accounting period under review, the economy continued to show signs of recovery due to improvements in employment and income conditions associated with wage increases. However, real wages remained sluggish due to continued price increases, and the outlook remained uncertain because numerous downside risks to the global economy remained, including heightened geopolitical risks in Ukraine and the Middle East, which have been prolonged, and US tariff policy.」

「Regarding the future economic environment, the recovery in domestic demand and growth in inbound demand are expected to continue. However, in addition to economic disruption on a global scale caused by new US economic policies stemming from tariff policy, various issues remain, including the continuing tensions in Ukraine, the Middle East, and other regions, and the difficult-to-predict situation is expected to continue.」

「During the interim accounting period under review, the economy showed signs of a moderate recovery due to a recovery in personal consumption, increased inbound demand, and other factors. However, the outlook remained uncertain due to natural disasters in Japan and overseas, the prolonged conflicts in Ukraine and the Middle East, weakness in the Chinese economy, rising prices including energy prices, fluctuations in financial markets, and other factors.」

「During the fiscal year under review, social and economic activity moved toward normalization as COVID-19 was reclassified as a Class 5 infectious disease, and the economy showed signs of recovery due to increased consumption and other factors. Meanwhile, the outlook remained uncertain due to currency fluctuations, surging resource prices, rising prices, and other factors against a backdrop of unstable global conditions.」

「During the cumulative third quarter under review, social and economic activity moved toward normalization as COVID-19 was reclassified as a Class 5 infectious disease, and the economy showed signs of a moderate recovery. Meanwhile, the outlook remained uncertain due to concerns about a downturn in overseas economies, surging resource prices, rising prices, and the depreciation of the yen, amid unstable global conditions caused by geopolitical risks including the prolonged situation in Ukraine and rising tensions in the Middle East.」

「During the cumulative second quarter under review, social and economic activity moved toward normalization as restrictions related to COVID-19 and overseas travel restrictions were eased, and the economy showed signs of a moderate recovery. Meanwhile, the outlook remained uncertain due to the impact of unstable global conditions, including surging resource prices, rising prices, global monetary tightening, and the depreciation of the yen.」

「During the cumulative first quarter under review, social and economic activity moved toward normalization as restrictions related to COVID-19 were eased, and the economy entered a moderate recovery trend. Meanwhile, the outlook remained uncertain in Japan and overseas due to surging raw material and energy prices caused by geopolitical risks, including the prolonged situation in Ukraine, and sharp currency fluctuations associated with monetary tightening.」

「Regarding the future economic environment, economic activity is expected to continue moving toward normalization as COVID-19 restrictions are eased. However, various issues remain, including material shortages associated with geopolitical risks such as the situation in Ukraine, rising prices, and concerns about a slowdown in overseas economies due to monetary tightening, and the difficult-to-predict situation is expected to continue.」

「During the cumulative third quarter under review, although the effects of COVID-19 remained, economic activity gradually moved toward normalization as various movement restrictions were eased. However, the outlook for global conditions remained uncertain due to multiple destabilizing factors, including the prolonged Russian military invasion of Ukraine, concerns about inflation in Europe and the United States, and the impact of sharp currency fluctuations.」

「During the cumulative second quarter under review, the number of COVID-19 infections in Japan began to rise again due to the emergence of new variants, but various activity restrictions had been eased since March and economic activity showed signs of normalization. However, the prolonged Russian invasion of Ukraine and the rapid depreciation of the yen caused energy and raw material prices to surge, while shortages of semiconductor components continued, and the outlook remained uncertain.」

「During the cumulative first quarter under review, the number of COVID-19 infections in Japan began to rise again due to the emergence of new variants, but various activity restrictions were eased and economic activity began to normalize. However, with higher raw material prices and semiconductor shortages remaining unresolved, the outlook remained uncertain due to rising resource prices associated with Russia's invasion of Ukraine and the rapid depreciation of the yen.」

「Regarding the future economic environment, domestic capital investment and personal consumption remained uncertain, while the global economy faced various issues, including sharp currency fluctuations, higher energy and other material prices, and Russia's invasion of Ukraine, and the difficult-to-predict situation is expected to continue.」

「During the cumulative third quarter under review, the number of COVID-19 infections in Japan declined as vaccinations became more widespread, and economic activity began to reopen in stages following the lifting of the state of emergency in October. Meanwhile, corporate activity was affected by the emergence of new variants, higher raw material prices, semiconductor shortages, surging crude oil and transportation costs, shortages of shipping containers, and other factors, and the outlook remained uncertain.」

「During the cumulative first quarter under review, Japan's economy remained in difficult conditions due to the resurgence of COVID-19 infections. Although some signs of a recovery in corporate earnings and capital investment emerged after the lifting of the first state of emergency last year as a result of various policies, the outlook became extremely uncertain due to the reissuance of the state of emergency, delays in vaccinations in Japan, the emergence of variant strains, and other factors.」

「Although demand for the ZK Series strong-alkaline ionized water generators was high among the manufacturing companies that are the Group's main customers, reflecting increased awareness of hygiene measures due to the spread of COVID-19, sales generally remained sluggish because of restrictions on sales activities under the state of emergency and other factors.」

「During the cumulative third quarter under review, personal consumption, employment conditions, and corporate capital investment deteriorated due to the spread of COVID-19. Although some signs of a recovery in economic activity emerged as a result of various economic measures and other factors, the state of emergency was declared again in Japan in January following a global resurgence in infections from this winter, and the outlook became extremely uncertain.」

「During the cumulative second quarter under review, corporate earnings and employment conditions deteriorated rapidly as the global spread of the COVID-19 pandemic caused economic activity to stagnate worldwide. Although some signs of a gradual recovery in economic activity emerged after the state of emergency was lifted, supported by a series of government economic measures and other factors, the infection had not yet subsided, and the outlook remained extremely uncertain.」

「During the cumulative first quarter under review, Japan's economy saw a slowdown in corporate earnings and capital investment following the consumption tax rate increase in October last year and other factors. Economic activity stagnated due to the spread of COVID-19 and the declaration of a state of emergency, and the outlook remained extremely uncertain. Against this backdrop, the Group, comprising the Company and its subsidiaries, thoroughly implemented infection-prevention measures, including wearing masks during work, and sought to ensure the safety of its officers and employees through staggered commuting hours and shorter working hours. It also carried out sales activities within its capabilities, including proposals for new cleaning systems and the expansion of sales through distributors. However, opportunities for demonstrations declined as some business partners closed or refrained from sales activities under the state of emergency, and the Group was also affected by the postponement or cancellation of various exhibitions.」

「Regarding the future economic environment, the postponement of the Olympic Games and the spread of COVID-19 made their impact unavoidable, while domestic capital investment, employment conditions, and personal consumption remained uncertain. Overseas, the global economy faced downside risks due to the spread of COVID-19, and the difficult situation, which remains difficult to predict, is expected to continue.」

「Meanwhile, uncertainty in the global economy increased due to trade issues between the United States and China, the UK's withdrawal from the EU, and the prolonged deterioration in Japan-South Korea relations, and the outlook remained uncertain.」

「Meanwhile, various downside risks to the global economy remained a concern, including a slowdown in the Southeast Asian economy and the UK's withdrawal from the EU due to trade friction between the United States and China, as well as the prolonged deterioration in Japan-South Korea relations, and the outlook remained uncertain.」

「Meanwhile, the global economy faced various concerns, including trade friction caused by additional tariffs between the United States and China, the UK's withdrawal from the EU, and downside risks to the economies of emerging Asian countries, and the outlook remained uncertain.」

「With a consumption tax rate increase scheduled for October this year, the trend in personal consumption remains difficult to predict. Overseas, the global economy faces downside risks due to the UK's withdrawal from the EU, trade friction between the United States and China, and other factors, and the outlook is expected to remain uncertain.」

「During the cumulative third quarter under review, Japan's economy was affected by natural disasters, including the torrential rains in western Japan, but capital investment and other areas remained firm against a backdrop of improved corporate earnings, and the domestic economy generally continued on a moderate recovery trend. However, overseas, the outlook remained uncertain amid heightened uncertainty in the global economy due to trade friction between the United States and China, a slowdown in growth in East Asia, and other factors.」

「Meanwhile, in Japan, adverse weather and natural disasters occurred one after another, while overseas the global economy faced downside risks due to the worsening of trade friction and other factors, and the outlook remained uncertain.」

「Meanwhile, overseas, various concerns remained, including worsening trade friction between the United States and China, political turmoil in Europe, and downside risks to the economies of emerging Asian countries, and the outlook remained uncertain.」

「Demand in the environmental cleaning equipment industry in which the group operates is affected by overall domestic economic conditions, particularly domestic capital investment trends in the manufacturing sector and the business performance of companies in the building maintenance industry.」

「Demand in the environmental cleaning equipment industry in which the group operates is affected by overall domestic economic conditions, particularly domestic capital investment trends in the manufacturing sector and the business performance of companies in the building maintenance industry.」

「Demand in the environmental cleaning equipment industry in which the group operates is affected by overall domestic economic conditions, particularly domestic capital investment trends in the manufacturing sector and the business performance of companies in the building maintenance industry.」