Business Interruptions and Downward Performance Revisions Due to COVID-19
First written in FY2020. 4 of 14 entries say "Materialised", first in FY2020. Latest entry: FY2024.
Kajima 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".
- FY2024MitigatedAnnual report
「Although the impact of the pandemic remained on some construction projects in Southeast Asia, performance entered a recovery trend from the third quarter consolidated accounting period onward. Development and other businesses faced an operating environment affected by inflation and rising interest rates in each region, but 12 properties were sold in the U.S. distribution warehouse development business, utilization rates at hotels and other operating businesses in Southeast Asia improved, and overall performance remained firm.」
Although the impact of the pandemic remained on the construction business in Southeast Asia, performance entered a recovery trend and utilization rates at hotel and other operating businesses also improved. The sale of 12 U.S. distribution warehouses was among the developments indicating that the impact of the pandemic was easing. - FY2024-Q3MitigatedAnnual report
「Although the impact of the pandemic remained on some construction projects in Southeast Asia, the construction business of overseas affiliates improved compared with the second quarter consolidated accounting period. In development and other businesses, 8 distribution warehouses were sold in the United States and performance in hotel and other operating businesses in Southeast Asia recovered, but profit fell below the high level recorded in the same period of the previous year.」
Although the impact of the pandemic remained on the construction business in Southeast Asia, improvement was seen compared with the second quarter. Hotel and other operating businesses also continued to recover, indicating that the impact of the pandemic was easing in some areas, but profit continued to fall below the previous year's level. - FY2024-Q2Residual impact on construction in Southeast Asia coexists with recovering hotel utilization ratesAnnual report
「Among overseas affiliates, the results of investment in the real estate sales business were evident, including the sale of 7 properties in the U.S. distribution warehouse development business, and utilization rates in hotel and other operating businesses in Southeast Asia continued to recover. However, the impact of the pandemic remained on the construction business in Southeast Asia.」
Utilization rates in hotel and other operating businesses in Southeast Asia continued to recover, while the impact of the pandemic remained on construction businesses in the region. Differences in the impact of the pandemic by region and business have continued. - FY2023-Q3RestatedAnnual report
「Among overseas affiliates, the decline in performance in Southeast Asia due to the pandemic was offset by North America, Europe and other regions, resulting in a significant improvement in performance compared with the same period of the previous year. The Company believes this reflected the results of building its business foundation and making strategic investments over time.」
While the pandemic-related decline in performance continued in Southeast Asia, North America, Europe and other regions offset the effect, and the performance of overseas affiliates as a whole exceeded that of the previous year. Differences in regional impact and the offsetting relationship have continued. - FY2023-Q2Delayed recovery in Southeast Asia coexists with strong performance in North AmericaAnnual report
「Among overseas affiliates, a full recovery in performance in Southeast Asia, where the impact of the pandemic remains, will require more time. As of the end of the second quarter consolidated accounting period, however, the impact of the situation in Ukraine in Europe was limited, and the impact of rising prices and policy interest rates in the United States was minor.」
In Southeast Asia, the delay in recovery due to the pandemic continued, while the impact of the situation in Ukraine in Europe and rising prices and policy interest rates in the United States was described as limited or minor. Differences in impact by region have continued. - FY2023-Q1Normalization coexists with concerns about a resurgence of infectionsAnnual report
「In Japan, the easing of restrictions on activities following the subsiding of the pandemic led to a recovery in the movement of people, and signs of a recovery in personal consumption were seen, particularly in spending on services.」
The subsiding of the pandemic and easing of restrictions on activities led to the normalization of human mobility and the domestic economy. At the same time, the need to monitor the effects of the rapid increase in infections from July 2022 onward was noted, with improving business conditions coexisting with concerns about a resurgence. - FY2022-Q3Continued impact in Southeast Asia offset by North America, Europe and other regionsAnnual report
「Among overseas affiliates, the decline in performance in Southeast Asia due to the pandemic was offset by North America, Europe and other regions, resulting in a significant improvement in performance compared with the same period of the previous year. The Company believes this reflected the results of building its business foundation and making strategic investments over time.」
While the pandemic-related decline in performance continued in Southeast Asia, North America, Europe and other regions offset the effect, resulting in a significant improvement in performance for overseas affiliates as a whole. Differences in regional impact and the offsetting relationship have continued. - FY2022-Q2Continued impact in Southeast Asia offset by North America, Europe and OceaniaAnnual report
「For overseas affiliates, a full recovery in the business environment in Southeast Asia, where the pandemic's impact has continued for an extended period, will require more time. In North America and Europe, however, construction businesses remained strong and development businesses expanded, making a significant contribution to consolidated performance.」
While the pandemic's impact on construction and facilities operations in Southeast Asia continued for an extended period, construction and development businesses in North America and Europe expanded and offset the effect for overseas affiliates as a whole. - FY2022-Q1Continued overseas impact offset by North America, Europe and OceaniaAnnual report
「Among overseas affiliates, the impact of the pandemic on construction and facilities operations in Southeast Asia continued for an extended period. However, North America, Europe and Oceania, where the impact was limited, offset this effect, resulting in higher revenue and profit than in the same period of the previous year.」
While the pandemic's impact on construction and facilities operations in Southeast Asia continued for an extended period, North America, Europe and Oceania offset the effect, resulting in higher revenue and profit for overseas affiliates as a whole year on year. Differences in impact by region and the continuing overseas effects are evident. - FY2021Impact below expectations, but overseas effects continueAnnual report
「The impact of the pandemic on performance for the fiscal year ending March 2021 included order-related effects in the domestic building business, such as postponed projects and intensifying competition. Overseas, there were effects from construction stoppages and lower productivity after reopening in Southeast Asia, as well as lower utilization rates at hotels and other operating facilities. Overall, however, the impact remained below expectations.」
The impact of the pandemic on orders in the domestic building business, construction stoppages and lower productivity in Southeast Asia, and lower hotel utilization rates continued, while the overall impact in the fiscal year ending March 2021 was described as less severe than initially expected. - FY2021-Q3MaterialisedAnnual report
「Among overseas affiliates, the impact of the pandemic varied by region. The impact on construction businesses in North America and Europe was limited, while in Southeast Asia there were effects from construction stoppages due to official restrictions in several countries and lower productivity after reopening. In development and other businesses, distribution warehouse development in Europe and the United States remained strong, although lower utilization rates at hotels and other operating facilities in Southeast Asia continued to have an extended impact.」
Construction stoppages and lower productivity after reopening in Southeast Asia, as well as lower utilization rates at hotels and other operating facilities, have continued due to the pandemic. While the impact on some businesses in North America and Europe was limited, differences in the impact by region have become clear. - FY2021-Q2MaterialisedAnnual report
「In Southeast Asia, construction sites have been temporarily closed in several countries since mid-March 2020 due to official restrictions and other measures, and some sites have not returned to full operation even after reopening. In addition, the effects of temporary closures and lower utilization rates have continued for an extended period in the hotel and other operating businesses.」
In Southeast Asia, temporary closures and stalled operations at construction sites, as well as temporary closures and lower utilization rates at hotels and other facilities, have continued due to COVID-19. By contrast, the impact on the domestic construction business has been described as minor. - FY2021-Q1MaterialisedAnnual report
「To prevent the spread of infection and ensure the safety of relevant parties, the Company decided to temporarily close construction sites from late April to 6 May 2020. Following discussions with clients, approximately 60% of sites nationwide above a specified contract value were closed for 10 days or more. The sites reopened from 7 May under strictly enforced infection prevention measures, and the impact on performance was minor.」
Due to COVID-19, approximately 60% of domestic construction sites above a specified contract value were closed for 10 days or more. Although the impact on the domestic construction business was described as minor due to infection prevention measures after reopening, the effects of lower utilization rates and temporary closures have also become apparent at hotels and golf courses operated by domestic affiliates and at overseas hotels. - FY2020MaterialisedAnnual report
「To prevent the spread of infection and ensure the safety of customers, partner companies and Group employees, the Group has taken measures including the temporary closure of offices and construction sites in Japan and overseas. With concerns about further spread and prolonged infection, the uncertain outlook is expected to continue.」
For COVID-19, temporary closures of offices and construction sites in Japan and overseas were implemented. For the fiscal year ending March 2021, declines in revenue and profit, overseas site closures and lower utilization rates at operated facilities were expected.