Pioneer 2012 Annual Report Download - page 57

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Cautionary Statement with Respect to Forward-Looking Statements
Statements made in Annual Report 2012 with respect to our current plans, estimates, strategies and beliefs, and other statements that are not historical facts are forward-
looking statements about our future performance. These statements are based on management’s assumptions and beliefs in light of the information currently available to it. We
caution that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore
you should not place undue reliance on them. It is not our obligation to update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise. We disclaim any such obligation. Risks and uncertainties that might affect us include, but are not limited to: (i) general economic conditions in our markets,
particularly levels of consumer spending, and levels of demand in the major industrial sectors which we serve; (ii) exchange rates, particularly between the Japanese yen and
the euro, the U.S. dollar, and other currencies in which we make significant sales or in which our assets and liabilities are denominated; (iii) our ability to continuously design
and develop and win acceptance for our products in extremely competitive markets; (iv) our ability to successfully implement our business strategies; (v) the success of our joint
ventures, alliances and other business relationships with third parties; (vi) our ability to access funding; (vii) our continued ability to devote sufficient resources to research and
development, and capital expenditure; (viii) our ability to ensure the quality of our products; (ix) conditions in which we are able to continuously procure key parts essential to our
manufacturing operations; and (x) the outcome of contingencies.