Impact of the spread of COVID-19 on construction work, order solicitation and funding liquidity
First written in FY2020. 7 of 14 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025-H1.
Takamatsu Construction Group moved to the "Worse" side of this theme in 2020, 4 years before the typical company in this theme (2024).
The whole theme swung hardest in 2024: 6 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「No new business or other risks arose during the current interim consolidated accounting period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company stated that there had been no material change in the impact of the spread of COVID-19 on construction, orders received and funding liquidity. - FY2024-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company stated that there had been no material change in the risks relating to the impact of the spread of COVID-19 on construction, orders received and funding liquidity. - FY2024-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company stated that there had been no material change in the risks relating to the impact of the spread of COVID-19 on construction, orders received and funding liquidity. - FY2023-Q3MitigatedAnnual report
「Although the impact of COVID-19 has continued for an extended period, social and economic activity appears to be moving toward normalization as restrictions on activities are eased and vaccines become more widely available.」
While stating that the impact of the infectious disease has continued for an extended period, the company described social and economic activity as moving toward normalization as restrictions on activities are eased and vaccines become more widely available. - FY2023-Q2MitigatedAnnual report
「Although the impact of COVID-19 remains, social and economic activity appears to be moving toward normalization as restrictions on activities are eased and other measures are implemented.」
While stating that the impact of the infectious disease remains, the company described social and economic activity as moving toward normalization as restrictions on activities are eased. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy remained affected by COVID-19, but economic activity proceeded relatively steadily as the COVID-normal lifestyle became more established.」
Although the economy remained affected by COVID-19, economic activity was described as relatively steady as the COVID-normal lifestyle became more established. - FY2022MaterialisedAnnual report
「There is still no prospect of the complete containment of the infection. If the spread of the infection creates a situation in which sales activities must be reduced, this may mainly cause a decline in orders for private-sector construction and affect the Group's results and financial position.」
With no prospect of the infectious disease being brought under control, the company continues to identify reduced sales activities and declining orders for private-sector construction as key risks. - FY2022-Q3MaterialisedAnnual report
「This resulted from a rebound after orders in the same period of the previous year had been sluggish due to the voluntary suspension of sales activities and other measures in response to COVID-19. Revenue was ¥190,639 million, down 9.1% year on year, as the weak order intake in the previous fiscal year weighed on revenue.」
The suspension of sales activities associated with the infectious disease affected actual results through sluggish orders in the same period of the previous year, and that impact has continued to appear in the form of a decline in sales in the current quarter. - FY2022-Q2MaterialisedAnnual report
「This was due to a rebound from the sluggish level of orders received in the same period of the previous year as a result of the suspension of sales activities associated with COVID-19.」
The suspension of sales activities associated with the spread of the infectious disease is reconfirmed as having affected actual results through sluggish orders in the same period of the previous year. Meanwhile, orders increased in the current quarter as a rebound effect. - FY2021MaterialisedAnnual report
「Some orders were put on hold due to uncertainty about the economic outlook or postponed as a result of the introduction of working from home.」
Due to the effects of COVID-19 and other factors, the suspension of in-person sales to individuals, orders from corporate customers being put on hold or postponed, and a decline in orders received actually occurred over the full fiscal year. Meanwhile, sales and construction activities continued through web-based meetings and infection-control measures. - FY2021-Q3MaterialisedAnnual report
「Under these circumstances, the Group carried out construction work while taking the utmost care to prevent infections by ensuring social distancing and disinfection, taking employees' temperatures, requiring employees and others to wear masks, and enforcing handwashing, in order to protect the lives and physical well-being of employees of Group companies and partner companies and construction workers. For business negotiations with new customers, in addition to web-based and telephone negotiations, we conducted in-person meetings with thorough infection-control measures in place, continuing sales activities while ensuring safety.」
Amid the spread of the infectious disease, infection-prevention measures at construction sites and sales activities through the web, by telephone and through meetings with infection-control measures in place have continued. - FY2021-Q2MaterialisedAnnual report
「Although government-ordered construction projects, particularly building construction, proceeded relatively smoothly despite frequent order delays, orders received for private-sector building construction were sluggish compared with the previous fiscal year because it took longer to conclude contracts with new individual customers, as business negotiations were conducted mainly via the web and by telephone until midway through the second quarter.」
Order delays due to the spread of the infectious disease, longer time to conclude contracts because business negotiations were conducted mainly via the web and by telephone, and sluggish orders for private-sector building construction actually occurred. - FY2021-Q1MaterialisedAnnual report
「Some construction projects were suspended. Within the Group, some construction projects were also suspended for a certain period to ensure the safety of the lives and physical well-being of employees, employees of partner companies, construction workers and third parties. We also took measures to minimize the impact on building construction from delivery delays affecting some building equipment due to instability in China's supply chain that began at the end of February.」
Regarding COVID-19, construction suspensions for a certain period and delays in deliveries of building equipment actually occurred. The company described the impact on results as minor and outlined measures to contain the impact. - FY2020First statedAnnual report
「For the Group, assuming that the state of emergency would be lifted in the first quarter of fiscal 2020, we assessed the recoverability of deferred tax assets and whether impairment losses and other items should be recognized. If the impact of COVID-19 on society and the economy continues for an extended period, deferred tax assets may be reversed and impairment losses and other items may arise.」
The spread of COVID-19 was identified explicitly for the first time as a separate material risk, with construction suspensions, reduced sales activities, delays in procuring materials, changes in investment sentiment, and impacts on funding liquidity and accounting estimates listed as potential effects. The impact on current-period results was described as minor.