Impact of the spread of COVID-19 on construction demand, construction work and procurement
First written in FY2020. 6 of 14 entries say "Restated". Latest entry: FY2024-Q3.
Asanuma moved to the "Worse" side of this theme in 2021, 3 years before the typical company in this theme (2024).
The whole theme swung hardest in 2024: 6 of 14 companies on the "Worse" side.
2 other companies' latest entry also says "Softened".
- FY2024-Q3SoftenedAnnual report
「During the first 3 quarters of the current fiscal year, Japan's economy had almost returned to normal as economic activity recovered following the reclassification of COVID-19 as a Category V infectious disease.」
The filing states that domestic economic activity had almost returned to normal following the legal reclassification of COVID-19. However, the risks to construction demand, procurement and construction schedules in the event of a renewed spread are still described as having no material changes in the business and other risks section, and this does not indicate that the risks have disappeared. - FY2024-Q2RestatedAnnual report
「Although the legal classification of COVID-19 as an infectious disease has been downgraded, if economic activity is restricted because infections spread further or a new variant emerges that causes more severe illness, there are concerns that this could lead to a deterioration in economic conditions, lower construction demand due to weaker investment sentiment and reduced capital investment, delays in the delivery of materials and equipment caused by supply chain disruptions, and construction schedule delays, potentially having a material impact on business performance.」
Even after the legal reclassification of the infectious disease, the filing continues to describe the risks of lower construction demand, delays in the delivery of materials and equipment, and construction schedule delays resulting from the spread of infections or the emergence of more severe variants. - FY2024-Q1RestatedAnnual report
「Although concerns about a ninth wave of COVID-19 infections have recently spread and infections have gradually increased nationwide even after the disease was reclassified legally as a Category V infectious disease, there have been no material changes to the content of the section on the risks associated with the spread of emerging infectious diseases in the annual securities report for the previous fiscal year.」
The filing describes concerns about a ninth wave and rising infections, while explicitly stating that there have been no material changes from the previous fiscal year to the business risks associated with the spread of emerging infectious diseases. Separately, it states that the spread of infections could cause lower construction demand, delays in the delivery of materials and equipment, and construction schedule delays. - FY2023-Q3WorsenedAnnual report
「COVID-19 infections have entered an eighth wave. If economic activity is restricted because infections spread further or a new variant emerges that causes more severe illness, there are concerns that this could lead to a deterioration in economic conditions, lower construction demand due to weaker investment sentiment and reduced capital investment, delays in the delivery of materials and equipment caused by supply chain disruptions, and construction schedule delays, potentially having a material impact on business performance.」
The filing newly specifies an eighth wave and details the pathway from the spread of a more severe variant to restrictions on economic activity, lower construction demand, delays in the delivery of materials and equipment, and construction schedule delays. - FY2023-Q2RestatedAnnual report
「Although the COVID-19 situation has recently begun to settle, a new variant could spread in the future. There have nevertheless been no material changes to the content of the section on the risks associated with the COVID-19 pandemic in the annual securities report for the previous fiscal year.」
While acknowledging that the infection situation has begun to subside, the filing notes the possibility of a new variant spreading. It states that there have been no material changes from the previous fiscal year to the business risks associated with the COVID-19 pandemic. - FY2023-Q1RestatedAnnual report
「Although the seventh wave of COVID-19 infections has recently begun to spread and there is still no end in sight, there have been no material changes to the content of the section on the risks associated with the COVID-19 pandemic in the annual securities report for the previous fiscal year.」
The filing describes the spread of a seventh wave and the lack of visibility on when it will end, but explicitly states that there have been no material changes to the business risks associated with the pandemic. - FY2022-Q3WorsenedAnnual report
「The spread of the Omicron variant, a new COVID-19 variant, including among vaccinated people, has led some regions to again tighten restrictions on economic activity, and the situation remains unpredictable. In Japan, the sharp increase in infections caused by the Omicron outbreak after the beginning of 2022 marked the arrival of a sixth wave, raising concerns about adverse effects on economic activity that had begun to recover.」
The filing describes the spread of the Omicron variant and the arrival of a sixth wave, which have led to renewed restrictions on economic activity and concerns about adverse effects on economic activity in the process of recovery. - FY2022-Q2WorsenedAnnual report
「However, the spread of a sixth wave of infections is also a concern, and there are fears of further adverse effects on economic activity, which had begun to recover.」
Although the business and other risks section states that there have been no material changes from the previous fiscal year, the business analysis raises concerns about renewed adverse effects on economic activity from a sixth wave, specifying a downside factor related to the COVID-19 pandemic risk. - FY2022-Q1RestatedAnnual report
「Although infections, mainly from COVID-19 variants, have spread in Japan and overseas and there is still no end in sight, there have been no material changes to the content of the section on the risks associated with the COVID-19 pandemic in the annual securities report for the previous fiscal year.」
The filing describes the spread of infections caused by variants and the lack of visibility on when the spread will end, but explicitly states that there have been no material changes to the content of the risks associated with the COVID-19 pandemic. - FY2021ReframedAnnual report
「The risk is expected to gradually decline as COVID-19 vaccinations progress. However, if a new variant unaffected by vaccines spreads in the future, the risk could increase.」
Regarding the business risk from COVID-19, the filing describes the continued impact of the pandemic and presents a conditional outlook in which the risk gradually declines with vaccination but rises again if a variant unaffected by vaccines spreads. - FY2021-Q3WorsenedAnnual report
「In Japan, the third wave of COVID-19 infections in 2021 led to the reimposition of a state of emergency, raising concerns about further adverse effects on the economy. In the construction industry, continued national resilience policies are expected to support steady public-sector construction investment, but private-sector construction investment is expected to see intensified competition for orders as companies continue to postpone or cancel capital investment because of persistently weak investment sentiment, and a decline in construction orders is expected. There are also concerns that interruptions to business activities caused by positive cases at construction sites and elsewhere could delay construction schedules and have a material impact on business performance」
The filing specifically describes the third wave in Japan and the reimposition of a state of emergency, the postponement and cancellation of private-sector capital investment, intensified competition for orders, concerns about declining construction orders, and schedule delays caused by positive cases. The business impact of the pandemic is continuing, and the pathway through which the risk affects the business has become clearer. - FY2021-Q2MaterialisedAnnual report
「In the construction industry, delays and interruptions to capital investment have begun to emerge as the spread of COVID-19 slows domestic and overseas economies and weakens investment sentiment. A decline in construction orders is also expected, and there are concerns that interruptions to business activities caused by infections at construction sites and elsewhere could delay construction schedules and have a material impact on business performance.」
The filing states that delays and interruptions to capital investment have emerged, and indicates that a decline in construction orders and schedule delays caused by infections could affect business performance. Although it states that the description of business and other risks has not materially changed from the previous fiscal year, the impact of the business environment is described in terms of specific events. - FY2021-Q1RestatedAnnual report
「Although COVID-19 infections have begun to spread again in Japan and continue to spread globally, with no end in sight, there have been no material changes to the content of the section on the risks associated with the COVID-19 pandemic in the annual securities report for the previous fiscal year.」
The filing describes the renewed spread of infections in Japan and the continued global spread, but explicitly states that there have been no material changes to the business risks from the previous fiscal year. - FY2020First statedAnnual report
「The global spread of COVID-19 has led Japan and other countries to impose measures such as travel bans and restrictions on going outside. Although the spread has subsided in some regions, the global outlook remains uncertain, and the following risks are anticipated.」
The COVID-19 pandemic was identified and organised as a standalone risk for the first time, with the filing citing the postponement, cancellation or curtailment of construction investment, suspension of construction operations, reduced construction capacity among subcontractors, procurement difficulties and higher material prices, and increased fixed costs associated with infection prevention. Although the pandemic and the resulting economic slowdown had already occurred, their impact on business performance was described as a possibility.