Impact of the spread of COVID-19 on the economy, continuation of construction work, and accounting estimates
First written in FY2021-Q1. 5 of 11 entries say "Mitigated", first in FY2021. Latest entry: FY2024-Q2.
5 other companies' latest entry also says "Mitigated".
- FY2024-Q2MitigatedAnnual report
「Economic activity moved toward normalization as COVID-19 was classified as a Class 5 infectious disease under the Infectious Diseases Control Act in May this year, among other factors, and personal consumption and capital investment recovered.」
The view that economic activity has been normalizing as a result of the novel coronavirus disease being reclassified as a Class 5 infectious disease, among other factors, continues to be expressed. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy saw normalization of economic activity as the novel coronavirus disease (COVID-19) was classified as a Class 5 infectious disease under the Infectious Diseases Act in May of this year, among other factors. Personal consumption and capital investment recovered.」
It was explained that economic activity was normalizing as a result of the reclassification of the novel coronavirus disease as a Class 5 infectious disease under the Infectious Diseases Act, among other factors, indicating an easing of the previous impact centered on stagnant economic activity and suspended overseas construction projects. - FY2023-Q3RestatedAnnual report
「In making accounting estimates concerning the recoverability of deferred tax assets, impairment testing of fixed assets, and total construction costs for the first nine months of the current consolidated fiscal year, the company has determined that there have been no material changes to the assumptions regarding the spread of COVID-19 described in the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change in the assumptions used in accounting estimates concerning the spread of the novel coronavirus, and the previous assessment remains unchanged. - FY2023-Q2RestatedAnnual report
「In making accounting estimates concerning the recoverability of deferred tax assets, impairment testing of fixed assets, and total construction costs for the first six months of the current consolidated fiscal year, the company has determined that there have been no material changes to the assumptions regarding the spread of COVID-19 described in the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change in the assumptions used in accounting estimates concerning the impact of the novel coronavirus, and the previous assessment remains unchanged. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current fiscal year, Japan's economy remained in a difficult condition, owing to stagnant economic activity resulting from the resurgence of COVID-19 infections and other factors, while uncertainty increased further in response to the rapidly changing situation in Ukraine.」
The stagnation of economic activity and severe economic conditions resulting from the resurgence of novel coronavirus infections were again explicitly stated. At the same time, it was stated that there had been no material change in the assumptions regarding the spread of infections used in accounting estimates. - FY2022-Q3MitigatedAnnual report
「During the nine-month period of the previous fiscal year, some countries were affected by construction suspensions caused by COVID-19, but during the nine-month period of the current fiscal year, construction projects were operational in all countries.」
Regarding the suspension of overseas construction projects attributable to the novel coronavirus, it was explained that projects were operating in all countries during the cumulative third quarter of the fiscal year, indicating that the impact had eased from the previous fiscal year. - FY2022-Q2WorsenedAnnual report
「Globally, however, the number of COVID-19 cases has begun to rise again, and in some countries construction commencement has also been delayed.」
An increase in novel coronavirus cases and delays in the start of construction in some countries were reported. - FY2022-Q1MitigatedAnnual report
「In the Group, construction is progressing smoothly in both domestic and overseas projects without significant impact from the novel coronavirus.」
Construction in both domestic and overseas projects was described as progressing smoothly without significant impact from the novel coronavirus, indicating an easing of the impact of construction suspensions that occurred in the previous fiscal year. - FY2021MitigatedAnnual report
「With the global spread of the novel coronavirus, some overseas construction projects of the Group were affected by construction suspensions and other factors. Almost all suspended projects have resumed, and we have made accounting estimates regarding the recoverability of deferred tax assets, impairment testing of fixed assets, and total construction costs on the assumption that construction can continue.」
Although overseas construction projects were suspended, almost all have reportedly resumed, indicating a partial easing of the impact compared with the continued suspensions through the previous quarter. The impact on accounting estimates and related uncertainty remain. - FY2021-Q2Partial resumption of construction, continued suspension of some projects, and reflection in accounting estimatesAnnual report
「With the global spread of the novel coronavirus, some overseas construction projects of the Group have been affected by construction suspensions and other factors. While some projects have begun to resume as assumed in the previous fiscal year, for some projects that have not resumed, we have assumed that the effects of construction suspensions and other factors will continue for a certain period through March 2021. Based on these assumptions, accounting estimates have been made regarding the recoverability of deferred tax assets, impairment testing of fixed assets, and total construction costs. However, as it is difficult to predict the impact of the spread of the novel coronavirus and when it will subside, future financial position and operating results may differ from these estimates and assumptions.」
Some overseas construction projects have begun to resume, while construction remains suspended for others, and the assumption that the impact will continue through March 2021 has been reflected in accounting estimates. The timing of the end of the impact remains difficult to predict. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy remained in a severe situation, with economic activity stagnating due to the impact of the novel coronavirus disease (COVID-19). Looking ahead, it remains necessary to continue closely monitoring the impact on the economy of infection trends in Japan and overseas.」
It has been disclosed that the stagnation of economic activity caused by the novel coronavirus disease has already had an impact and that future effects remain uncertain. It has also been disclosed that this could affect the recoverability of deferred tax assets, impairment of fixed assets, and estimates of total construction costs.