Demand, Construction and Financing Risks from the Spread of COVID-19
First written in FY2020. 5 of 11 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2026.
Takasago Thermal Engineering moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「If large-scale natural disasters such as earthquakes, typhoons, and tsunamis, or the spread of infectious diseases, occur in the regions where our group operates, resulting in the suspension or substantial delay of construction,」
The previous risk disclosure centered on COVID-19 has been reorganized in this filing as “risks associated with disasters and other events,” including natural disasters and infectious diseases. - FY2024-Q1MitigatedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy showed signs of moving toward normalized economic activity, partly as a result of the easing of restrictions on activity related to COVID-19, although concerns remained about downside risks from rising prices and a slowdown in overseas economies.」
Regarding COVID-19, the company describes the easing of restrictions on activity and moves toward the normalization of economic activity, indicating some easing from the previous prolonged and worsening impacts. - FY2023-Q3MitigatedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, Japan's economy showed signs of recovery as measures to combat COVID-19 were balanced with socioeconomic activity. However, close monitoring remains necessary in light of higher raw material prices and supply-side constraints resulting from monetary tightening policies in countries around the world and foreign-exchange fluctuations.」
The company states that the economy has shown signs of recovery as measures to combat COVID-19 have been balanced with socioeconomic activity. At the same time, uncertainty remains due to higher raw material prices and supply constraints. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter under review, Japan's economy showed signs of returning to normal as restrictions on economic activity related to the spread of COVID-19 were eased. However, uncertainty continued, including rising raw material prices and supply constraints caused by the rapid depreciation of the yen.」
Regarding COVID-19, the company describes the easing of restrictions on economic activity and moves toward a return to normal, indicating some easing from the previous situation, which had been characterized solely by prolonged and worsening impacts. At the same time, uncertainty remains due to rising raw material prices and supply constraints. - FY2022MaterialisedAnnual report
「Regarding the business environment, the global economy continues to suffer a serious blow from the impact of the COVID-19 pandemic, and we recognize that the situation remains unpredictable both in Japan and overseas.」
The impact of the infection continues to be present in the business environment. The company has implemented an infection control headquarters, telework, travel restrictions, BCP measures, and measures to secure cash on hand. - FY2022-Q2MaterialisedAnnual report
「Profit declined at overseas subsidiaries due to soaring labor costs and material and equipment prices caused by the spread of COVID-19, as well as lower revenue resulting from delays in the progress of some domestic and overseas construction projects.」
The effects of the spread of the infection continued to appear in higher labor costs and materials and equipment prices at overseas subsidiaries, as well as delays in construction progress in Japan and overseas. Operating profit declined 30.6% year on year, while ordinary profit declined 18.1%. - FY2021MaterialisedAnnual report
「Regarding the novel coronavirus, which has spread globally, if the situation becomes more prolonged or the infection continues to spread, construction demand may decline as the economy deteriorates, construction may be suspended or delayed due to site closures, and the prices of materials and equipment may rise, potentially affecting the financial position and operating results of our group.」
The prolonged spread of COVID-19 continues to be identified as a risk, with its impact on performance appearing in the current fiscal year, including a 14.2% decline in revenue and a 31.3% decline in operating profit. - FY2021-Q3WorsenedAnnual report
「The company changed its assumption regarding the impact of the infectious disease from expecting it to subside during the fiscal year ending March 2021 to assuming that it would continue for a certain period beyond the following consolidated fiscal year, and made accounting estimates concerning estimates under the percentage-of-completion method, impairment of fixed assets including goodwill, and the recoverability of deferred tax assets.」
Regarding the impact of the infectious disease, the company changed its assumption from expecting it to subside during the fiscal year ending March 2021 to assuming that it would continue for a certain period beyond the following consolidated fiscal year. The assumed duration of the risk impact has been extended. - FY2021-Q2MaterialisedAnnual report
「With corporate earnings declining as the infectious disease continued to spread and uncertainty surrounding the outlook for the global economy, companies were expected to reconsider capital investment, while the transition to new ways of working premised on preventing the spread of infection became necessary. The business environment therefore continued to require a cautious approach to management and further productivity improvements.」
The decline in corporate earnings, reconsideration of capital investment and transition to new ways of working associated with the novel coronavirus disease continued to affect the business environment, and revenue for the cumulative second-quarter period fell 19.1% year on year. - FY2021-Q1MaterialisedAnnual report
「The economy was rapidly pushed downward by the spread of the novel coronavirus disease, creating an extremely difficult situation.」
The impact of the spread of the novel coronavirus disease materialized in the economy and the group’s business environment, leading to lower revenue and a quarterly loss. - FY2020First statedAnnual report
「If the novel coronavirus, which has recently spread worldwide, persists or spreads further, the resulting economic deterioration could reduce construction demand, while site closures could interrupt or delay construction and cause prices of construction materials and equipment to rise, potentially affecting the group’s financial position and operating results.」
The company has identified lower construction demand, site closures, construction delays and higher prices for construction materials and equipment due to the prolonged spread of the novel coronavirus as new risks. The accounting estimates also describe temporary suspensions at some construction sites.