Construction Suspensions and Factory Shutdowns Caused by COVID-19 and Their Impact on Business Performance
First written in FY2020. 7 of 12 entries say "Restated". Latest entry: FY2024.
Seikitokyu Kogyo moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2024: 6 of 14 companies on the "Worse" side.
2 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「If the spread of infectious diseases or other factors forces the cancellation of construction work in the construction business or the shutdown of plants in the asphalt materials manufacturing and sales business, the Group's operating results and financial position may be adversely affected. Significant fluctuations in the status of construction orders may also have an adverse effect for the same reasons as described in (1).」
The scope was expanded from the previous treatment limited to COVID-19 to infectious diseases in general, and significant fluctuations in construction orders were added as a risk factor. - FY2024-Q2MitigatedAnnual report
「During the six months ended the second quarter, the Japanese economy entered a moderate recovery phase as the normalization of economic and social activity progressed further following the reclassification of COVID-19 as a Class 5 disease under the Infectious Diseases Control Law.」
The filing states that the disease was reclassified as a Class 5 disease under the Infectious Diseases Control Law, further advancing the normalization of economic and social activity. It does not describe specific impacts such as construction cancellations or factory shutdowns. - FY2023-Q3RestatedAnnual report
「There have been no material changes to the assumptions described in the “Additional Information” section of the previous consolidated fiscal year's securities report, including assumptions regarding the future spread and eventual containment of COVID-19.」
The company states that there were no significant changes from the previous consolidated fiscal year in the accounting assumptions relating to the spread and resolution of COVID-19. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the assumptions described in the “Additional Information” section of the previous consolidated fiscal year's securities report, including assumptions regarding the future spread and eventual containment of COVID-19.」
The company states that there were no significant changes from the previous consolidated fiscal year in the accounting assumptions relating to the spread and resolution of COVID-19. - FY2023-Q1RestatedAnnual report
「There have been no material changes to the assumptions described in the “Additional Information” section of the previous consolidated fiscal year's securities report, including assumptions regarding the future spread and eventual containment of COVID-19.」
The company states that there were no significant changes from the previous consolidated fiscal year in the accounting assumptions relating to the spread and resolution of COVID-19. - FY2022RestatedAnnual report
「As of the date of filing the Annual Securities Report, the COVID-19 pandemic has had no impact on the financial position or cash position of the Group. However, including its impact on trends in public works orders, we will continue to closely monitor developments while working to maintain and improve financial soundness in accordance with the policy described above.」
The company states that COVID-19 has had no impact on its financial position or cash position, while continuing to monitor developments, including trends in public works orders. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the assumptions described in the “Additional Information” section of the previous consolidated fiscal year's securities report, including assumptions regarding the future spread and eventual containment of COVID-19.」
The company states that there were no significant changes from the previous consolidated fiscal year in the accounting assumptions relating to the spread and resolution of COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions described in the “Additional Information” section of the previous consolidated fiscal year's securities report, including assumptions regarding the future spread and eventual containment of COVID-19.」
The company states that there were no significant changes from the previous consolidated fiscal year in the accounting assumptions relating to COVID-19. - FY2021-Q3MaterialisedAnnual report
「In light of these circumstances, it is difficult to predict when the COVID-19 pandemic will subside in the Republic of the Union of Myanmar. As of the end of FY2021, normalization had not been achieved, so the company changed its assumption to a gradual recovery from FY2021 onward and made accounting estimates, including impairment accounting for fixed assets. As a result, the company recognized an impairment loss of ¥576 million on production equipment and other assets of its consolidated subsidiary, SEIKITOKYU MYANMAR ROAD COMPANY LIMITED.」
The impact of COVID-19 materialized in the business environment of the Myanmar consolidated subsidiary and appeared in the financial figures as a ¥576 million impairment loss on production equipment and other assets. - FY2021-Q2WorsenedAnnual report
「During the six-month period ended the second quarter, Japan’s economy remained challenging as the impact of COVID-19 persisted. In the road construction industry, public investment remained solid due to disaster prevention and mitigation projects and infrastructure aging-countermeasure projects, but the business environment remained uncertain as private-sector capital investment trended downward due to the impact of COVID-19.」
The impact of COVID-19 persisted, resulting in a downward trend in private-sector capital investment. No material impact on results or significant changes from the previous consolidated fiscal year in the accounting assumptions relating to the pandemic were disclosed. - FY2021-Q1RestatedAnnual report
「No material impact on the company group’s results had occurred due to the spread of COVID-19 by the filing date of this quarterly report. However, as many uncertainties remain regarding the outlook, the company will continue to closely monitor developments.」
While no material impact on results had occurred by the filing date, the company states that uncertainty about the outlook remains and continues to disclose the risk associated with COVID-19. - FY2020First statedAnnual report
「If the spread of COVID-19 were to force construction projects in the construction business to be suspended or plants in the paving materials manufacturing and sales business to cease operations, it could adversely affect the operating results and financial position of the company group.」
COVID-19 was explicitly identified for the first time as a standalone business risk. Although temporary interruptions and other issues occurred in some construction projects, the company explained that the impact on results was minor as of the filing date.