Business and Earnings Impact of COVID-19
First written in FY2020. 4 of 14 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024.
Quest moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
37 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「Disasters, misconduct, and other social risks Storm and flood damage caused by climate change, including earthquakes and typhoons; explosions and fires; infectious diseases; and other risks」
COVID-19 is no longer listed as a standalone risk, and infectious diseases are included as a general item under disaster and social risks. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter consolidated period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous consolidated fiscal year.」
The Company states that there have been no material changes to the risk of COVID-19 affecting its business and operating results. - FY2024-Q2SoftenedAnnual report
「During the cumulative second quarter from 1 April 2023 to 30 September 2023, Japan's economy was recovering from the economic impact of COVID-19. However, the outlook remained uncertain due to the prolonged conflict in Europe, higher resource and raw material prices caused by yen depreciation, and concerns about the impact of the conflict in the Middle East on resource prices.」
The Company states that the economy is recovering from the impact of COVID-19, indicating that pandemic-related impacts have weakened compared with before. At the same time, other external-environment risks remain. - FY2024-Q1SoftenedAnnual report
「During the cumulative first quarter from 1 April 2023 to 30 June 2023, Japan's economy improved as economic activity recovered following the reclassification of COVID-19 to Category V and the recovery in the movement of people, including inbound visitors. However, the outlook remained uncertain due to higher resource and raw material prices associated with the prolonged conflict in Europe and higher prices caused by yen depreciation.」
The Company describes an improvement in economic activity following the reclassification of COVID-19 as a Class 5 infectious disease and the recovery in human mobility, indicating that the impact of the pandemic on economic activity has weakened compared with before. However, the business and other risks section states that there have been no material changes. - FY2023-Q3SoftenedAnnual report
「During the nine-month period of the fiscal year under review, from 1 April 2022 to 31 December 2022, Japan's economy showed signs of a gradual recovery as restrictions on activities related to COVID-19 were eased.」
The analysis of operating results describes the easing of activity restrictions and signs of an economic recovery. However, the business and other risks section states that there have been no material changes. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes to the risk of COVID-19 affecting its business and operating results. - FY2022-Q3WorsenedAnnual report
「Although the number of new COVID-19 infections temporarily declined, it has risen again due to new variants. Depending on the operating conditions of customer companies, delays in acquiring new projects and restraints on IT investment are expected to continue.」
The situation has shifted from a temporary decline in new infections to a renewed increase caused by new variants, and the Company again describes the potential for delays in acquiring new projects and restraints on customers' IT investment. - FY2022-Q2SoftenedAnnual report
「The number of new infections has recently been declining as COVID-19 vaccinations accelerate, but if infections begin spreading again, they may affect our business activities and ability to secure earnings. We will continue to closely monitor the impact on our financial condition and operating results.」
The Company notes the acceleration of vaccinations and the downward trend in new infections, and presents the infectious-disease risk as a potential impact if infections spread again rather than as an ongoing impact. - FY2022-Q1WorsenedAnnual report
「More recently, highly transmissible variants have been spreading rapidly, and depending on the future infection situation, they may have a further impact on our business activities and ability to secure earnings.」
In light of the spread of more highly transmissible variants, the Company describes the possibility that the impact on business activities and the ability to secure earnings may increase further depending on the infection situation. - FY2021WorsenedAnnual report
「In addition to the prolonged COVID-19 pandemic, infections with new variants are spreading. We will continue implementing measures to prevent infection, including recommending remote work, while responding flexibly to changes in the market environment in an effort to maintain and expand earnings. However, changes in working arrangements at both the Company and its customers may reduce productivity, and business operations may be disrupted if employees become infected. Delays in projects and restraints on investment activity resulting from deteriorating customer performance may also affect our business activities and operating results.」
In addition to the prolonged pandemic and spread of new variants, the Company specifies the potential impact channels of lower productivity, employee infections, project delays, and restrained customer investment. - FY2021-Q3RestatedAnnual report
「However, if the period until the COVID-19 pandemic comes to an end is prolonged, it may have a further impact on our business activities and ability to secure earnings. We will continue to closely monitor the impact on our financial condition and operating results.」
The Company continues to describe the potential for additional impacts on business activities and its ability to secure earnings if COVID-19 is prolonged, as well as its ongoing monitoring of its financial condition and operating results. - FY2021-Q2RestatedAnnual report
「However, if the period until the COVID-19 pandemic comes to an end is prolonged, it may have a further impact on our business activities and ability to secure earnings. We will continue to closely monitor the impact on our financial condition and operating results.」
The Company continues to describe the potential for additional impacts on business activities and its ability to secure earnings if COVID-19 is prolonged, as well as its ongoing monitoring of its financial condition and operating results. - FY2021-Q1WorsenedAnnual report
「However, if the period until the COVID-19 pandemic comes to an end is prolonged, it may have a further impact on our business activities and ability to secure earnings.」
The Company described the potential for additional impacts on business activities and its ability to secure earnings if the COVID-19 pandemic is prolonged, providing greater specificity on the existing infectious-disease risk. - FY2020First statedAnnual report
「The global spread of COVID-19 has led to a decline in personal consumption due to calls to refrain from going out and a slowdown in economic activity. In our business, delays in acquiring new projects due to the difficulty of conducting face-to-face sales activities and restraints on customers' IT investment due to deteriorating business performance are also expected.」
The Company identified the global spread of COVID-19 as a standalone business risk for the first time, and described the potential for delays in acquiring new projects, restraints on customers' IT investment, and impacts on business operations, financial condition, and operating results.