Business and Performance Risks Arising from the Spread of COVID-19
First written in FY2021-Q1. 7 of 14 entries say "Restated". Latest entry: FY2024-Q3.
Umios moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
51 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「During the first nine months of the fiscal year, economic activity continued to normalize after the COVID-19 pandemic, and the economy showed a gradual recovery, supported by the recovery in inbound demand and other factors.」
The disclosure continues to indicate that the impact of the spread of infection on the business environment is declining, against the backdrop of the normalization of economic activity after the COVID-19 pandemic and the recovery in inbound demand. - FY2024-Q2MitigatedAnnual report
「During the first six months of the fiscal year, the Japanese economy continued to recover as consumption activity moved toward normalization following the reclassification of COVID-19 as a Category 5 disease.」
The disclosure describes the normalization of consumption activity and the ongoing recovery following the reclassification of COVID-19 as a Category 5 disease, continuing to indicate that its impact on business and consumption is declining. - FY2023MitigatedAnnual report
「From May 2023, COVID-19 was reclassified under the Infectious Diseases Control Law from Category 2-equivalent to Category 5, equivalent to seasonal influenza and other diseases. We expect this to further accelerate the establishment of a lifestyle adapted to living with COVID-19, advance the normalization of socioeconomic activity, and sustain the recovery in personal consumption.」
Regarding COVID-19, the company indicated that its material impact on business and consumption is declining, against the backdrop of the change in its classification under the Infectious Diseases Control Law and the normalization of socioeconomic activity. - FY2023-Q3RestatedAnnual report
「During the first nine months of the fiscal year, the Japanese economy showed a gradual recovery, particularly in non-manufacturing sectors such as accommodation and food services, supported by the absence of new restrictions on activities and government demand-stimulation measures such as nationwide travel assistance, despite the continued increase in new COVID-19 cases.」
Although new COVID-19 cases continued to increase, no new restrictions on activities were imposed, and the economy showed a gradual recovery, particularly in non-manufacturing sectors. The disclosure does not state that the risk of the spread of infection has disappeared. - FY2023-Q2RestatedAnnual report
「During the first six months of the fiscal year, the Japanese economy continued to recover gradually, particularly in personal consumption, despite an explosive increase in new COVID-19 cases as the Omicron BA.5 variant became predominant, partly because no new restrictions on activities were imposed.」
Although COVID-19 cases increased, no new restrictions on activities were imposed, and personal consumption showed a gradual recovery. The disclosure states that there have been no material changes regarding the risk of the spread of infection. - FY2023-Q1RestatedAnnual report
「The environment surrounding our Group remains opaque, including continued concerns about the emergence of new COVID-19 variants.」
The disclosure continues to cite concerns about new COVID-19 variants and an opaque business environment. It states that there have been no material changes to the accounting estimates. - FY2022MitigatedAnnual report
「As economic activity has gradually resumed with the spread of COVID-19 vaccines, we believe that the possibility of a material impact has also gradually declined.」
Although the impact of COVID-19 remains uncertain, the company stated that the possibility of a material impact has gradually declined as vaccines have become more widely available and economic activity has resumed. - FY2022-Q3RestatedAnnual report
「Amid a challenging business environment in which the spread of COVID-19 is not expected to subside, partly due to the growing prevalence of the Omicron variant,」
The disclosure states that the challenging business environment, in which the spread of COVID-19 is not expected to subside, has continued, including the growing prevalence of the Omicron variant. It states that there have been no material changes to the assumptions used in accounting estimates. - FY2022-Q2RestatedAnnual report
「As impacts of the spread of COVID-19, we expect sales of household products to expand in Japan and overseas as consumers shift toward stay-at-home consumption, while assuming weak overseas fishing, sales to the foodservice industry and commercial customers, and weak sales of high-priced products due to an economic downturn. However, we have determined that it is difficult to foresee the scale of the impact and the timing of its resolution.」
Regarding COVID-19, the disclosure cites both expanded sales of household products and adverse impacts on overseas fishing, foodservice, commercial customers and high-priced products, maintaining the view that uncertainty over the scale and timing of the impact's resolution continues. - FY2022-Q1RestatedAnnual report
「As impacts of the spread of COVID-19, we expect sales of household products to expand in Japan and overseas as consumers shift toward stay-at-home consumption, while assuming weak overseas fishing, sales to the foodservice industry and commercial customers, and weak sales of high-priced products due to an economic downturn. However, we have determined that it is difficult to foresee the scale of the impact and the timing of its resolution.」
Regarding COVID-19, the disclosure cites both expanded sales of household products and adverse impacts on overseas fishing, foodservice, commercial customers and high-priced products, and states that uncertainty over the scale and timing of the impact's resolution continues. - FY2021WorsenedAnnual report
「In accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, our Group assumes that the impact of the spread of COVID-19, although differing in nature and degree by business and region, will continue through the end of March 2022 and gradually recover from April 2022 onward. Some of the assumptions through the end of the third quarter of the consolidated fiscal period have been changed.」
The accounting assumption is that the impact of COVID-19 will continue through the end of March 2022 and gradually recover thereafter. The disclosure states that the scale of the impact and the timing of its resolution remain highly uncertain. - FY2021-Q3RestatedAnnual report
「Regarding the risk item "Spread of COVID-19" described in the annual securities report for the previous fiscal year, the fishing and aquaculture businesses have continued to face a more challenging business environment than expected, while the overseas businesses have reported higher profit. Nevertheless, the situation regarding the spread of COVID-19 continues to warrant caution, and some of the assumptions used in the accounting estimates for its impact were changed at the end of the second quarter of the consolidated fiscal period.」
The disclosure states that the fishing and aquaculture businesses continue to face a more challenging environment than expected, while the overseas businesses have reported higher profit amid the spread of COVID-19. It continues to regard the situation as requiring caution based on the assumptions used in accounting estimates that were changed at the end of the second quarter. - FY2021-Q2WorsenedAnnual report
「Regarding the risk item "Spread of COVID-19" described in the annual securities report for the previous fiscal year, the fishing and aquaculture businesses have continued to face a more challenging business environment than expected, while the decline in revenue and profit in the trading business has been smaller than expected, and the overseas businesses have reported higher profit. Nevertheless, the situation regarding the spread of COVID-19 continues to warrant caution, and some of the assumptions used in the accounting estimates for the impact of the spread of COVID-19 have been changed.」
Although the impact of COVID-19 differs by business, the fishing and aquaculture businesses continue to face a more challenging environment than expected, and some of the assumptions used in accounting estimates have also been changed. - FY2021-Q1First statedAnnual report
「Regarding the risk item "Spread of COVID-19" described in the annual securities report for the previous fiscal year, the fishing and aquaculture businesses have continued to face a more challenging business environment than expected, while the decline in revenue and profit in the trading business has been smaller than expected, and the overseas businesses have reported higher profit. Nevertheless, the situation regarding the spread of COVID-19 continues to warrant caution, and our assessment remains unchanged.」
The spread of COVID-19 was expressly identified as a business and other risk, and its actual impact has differed from expectations across the fishing and aquaculture, trading and overseas businesses. For accounting purposes, the Group assumes that the decline in sales will continue through September 2020 and gradually recover from October onward, but states that the scale and timing of the impact's resolution remain uncertain.