Suspension of overseas construction and impact on performance due to COVID-19
First written in FY2020. 4 of 10 entries say "Materialised", first in FY2020. Latest entry: FY2023.
The whole theme swung hardest in 2024: 6 of 26 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of recovery as economic activity restrictions related to COVID-19 were eased in major countries.」
The description has changed to indicate that restrictions on activities related to the pandemic were eased and that the impact on the economic environment was less severe than before. - FY2023-Q1ReframedAnnual report
「During the cumulative first-quarter period, Japan's economy continued a gradual recovery, supported by a recovery in personal consumption following the easing of restrictions on activities related to COVID-19 and a recovery in corporate performance.」
The description of the economic environment has been updated to reflect the easing of restrictions on activities and the recovery in personal consumption and corporate performance related to COVID-19. However, it is stated that there were no material changes in the assumptions used for accounting estimates, including the manner in which the infection would spread and the timing of its containment. - FY2022MaterialisedAnnual report
「The prolonged spread of COVID-19 was compounded by the situation in Ukraine at the end of the fiscal year, and conditions remained uncertain.」
While all overseas projects were operating, the company recognized an expected combined construction loss of approximately ¥9.0 billion on large-scale civil engineering projects in Singapore and other projects due to the prolonged spread of the pandemic and other factors. - FY2022-Q3MaterialisedAnnual report
「In a large-scale civil engineering project in Singapore, construction costs increased due to discrepancies in ground conditions and the prolonged spread of COVID-19, resulting in the recognition of a construction loss of approximately ¥5.0 billion.」
Regarding overseas construction suspensions and the impact of the pandemic, construction costs increased on large-scale civil engineering projects in Singapore due to the prolonged spread of the pandemic and other factors, resulting in an actual construction loss of approximately ¥5.0 billion. The company also described the resumption of construction in Singapore and Africa. - FY2022-Q2MitigatedAnnual report
「Although construction work in Singapore, which had been suspended in the same quarter of the previous year, progressed steadily, revenue decreased 4.7% year on year to ¥55.9 billion and segment profit decreased 23.4% to ¥2.0 billion, due to the completion and progress of large-scale ODA port construction projects in the same quarter of the previous year.」
The company states that construction work in Singapore, which had been suspended in the same quarter of the previous year, progressed steadily, indicating that the impact of pandemic-related construction suspensions was partly alleviated. However, overseas construction posted lower revenue and profit due to the reversal of the completion and progress of large-scale ODA projects in the same quarter of the previous year. - FY2022-Q1MitigatedAnnual report
「In Southeast Asia, including Singapore, one of the Company's overseas bases, construction investment, particularly in infrastructure development, is now on a recovery trend, although some projects were delayed in the previous fiscal year.」
The company states that construction investment in Southeast Asia, including Singapore, is on a recovery trend in overseas construction markets where some projects were delayed in the previous fiscal year due to the pandemic and other factors. - FY2021-Q3MitigatedAnnual report
「The Company's domestic projects in hand progressed without interruption, and the impact of COVID-19 was limited. Overseas, in Singapore, one of the Group's main bases, projects suspended due to the lockdown (7 April–7 June) gradually resumed from July, and all projects were operating in the second half. Among ODA projects, large-scale port construction projects in Bangladesh and Indonesia progressed steadily, and projects in Africa that had been suspended also resumed.」
Although construction suspensions due to the pandemic continued to affect operations, all projects in Singapore were operating in the second half, and suspended projects in Africa also resumed. Domestic projects and large-scale port construction projects in Bangladesh and Indonesia continued. - FY2021-Q2Singapore reopened; African projects suspendedAnnual report
「The Company's domestic projects in hand progressed without interruption, and the impact of COVID-19 was limited. Overseas, a lockdown was imposed in Singapore, one of the Group's overseas bases, to prevent the spread of COVID-19 (7 April–1 June), and construction work was completely suspended. Work resumed sequentially from the latter half of July, and almost all projects were operating from September. ODA projects in Africa remained suspended, while large-scale port construction projects in Bangladesh and Indonesia progressed steadily.」
The risk of overseas construction suspensions due to the pandemic remains, but work in Singapore resumed sequentially from the latter half of July, and almost all projects were operating by September. ODA projects in Africa remain suspended, while large-scale port construction projects in Bangladesh and Indonesia are progressing. - FY2021-Q1MaterialisedAnnual report
「Overseas, a lockdown was imposed in Singapore, one of the Group's overseas bases, to prevent the spread of COVID-19 (7 April–1 June), and construction work was almost entirely suspended. Work resumed sequentially from the latter half of July. Large-scale ODA projects in Bangladesh and Indonesia, however, progressed without interruption.」
While construction work was almost entirely suspended in Singapore due to the lockdown, large-scale ODA projects in Bangladesh and Indonesia continued. - FY2020MaterialisedAnnual report
「The impact of COVID-19 on the fiscal 2020 consolidated earnings forecast includes the effects of construction suspensions for a certain period in parts of Southeast Asia, including Singapore, and in Africa. However, a prolonged suspension or an expansion of the impact beyond assumptions could affect the Group's performance.」
Several overseas projects were actually suspended due to stay-at-home orders and other measures, and the fiscal 2020 earnings forecast incorporates an approximately 4% decline in revenue. The company also stated that it would pursue measures to avoid the Three Cs, reduce staffing, and promote contactless and remote operations.