Restrictions on Economic Activity and Deterioration in Performance Due to the Spread of COVID-19
First written in FY2021-Q1. 9 of 13 entries say "Reframed", first in FY2021-Q3. Latest entry: FY2024.
HONYAKU Center moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
27 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「During the current consolidated fiscal year, Japan's economy showed signs of recovery as the lifting of restrictions on movement related to COVID-19 progressed and economic activity normalized. However, concerns about an economic slowdown remain due to soaring raw material prices and rising prices resulting from the sharp depreciation of the yen and the prolonged Russia-Ukraine situation, among other factors, and the outlook remains uncertain.」
The explanation has shifted from one centered on restrictions on movement and economic activity due to the infection to one that acknowledges the lifting of those restrictions and the normalization of economic activity, while focusing on concerns about an economic slowdown due to the weaker yen, rising raw material prices and inflation, and geopolitical conditions. - FY2024-Q3ReframedAnnual report
「During the third quarter of the current consolidated cumulative period, economic activity moved toward normalization and the economy showed some signs of recovery as various restrictions related to COVID-19 were eased. However, concern over an economic slowdown has grown due to factors including rising geopolitical risks, soaring raw-material prices, rising prices and the impact of global monetary tightening, and the outlook remains uncertain.」
The filing explicitly describes the easing of various restrictions related to COVID-19 and the normalization of economic activity, shifting from an explanation centered on infection-related restrictions and deterioration in business performance to one centered on geopolitical risks, rising raw material prices and inflation, and concerns about an economic slowdown due to monetary tightening. - FY2024-Q1ReframedAnnual report
「During the first quarter of the current consolidated cumulative period, the economy showed some signs of a moderate recovery as various restrictions related to COVID-19 were eased. However, concern over a downturn in overseas economies has grown against the backdrop of rising geopolitical risks, soaring raw-material prices, rising prices and global monetary tightening, and the outlook remains uncertain.」
While the easing of various restrictions related to COVID-19 has led to an explanation acknowledging a recovery in the economy, geopolitical risks, rising raw material prices and inflation, global monetary tightening, and concerns about weaker overseas economies are identified as new sources of uncertainty. - FY2023-Q3ReframedAnnual report
「Although the economy has shown signs of recovery due to measures to combat COVID-19 and various measures targeting economic and social activity, the outlook remains uncertain because of factors including the prolonged situation in Ukraine and soaring raw material and energy prices caused by rapid foreign-exchange movements.」
While acknowledging a recovery in the economy due to measures to combat the infection and other factors, the filing places less emphasis on explicit references to renewed spread and identifies the situation in Ukraine and soaring raw material and energy prices caused by foreign-exchange movements as the main sources of uncertainty. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the economy showed some signs of recovery due to the effects of measures against COVID-19 and various measures targeting economic and social activity. However, the outlook remains uncertain due to constraints on raw-material and energy supplies against the backdrop of the prolonged situation in Ukraine and a renewed spread of COVID-19 in China, as well as rising prices associated with rapid exchange-rate movements.」
While acknowledging a recovery in the economy resulting from measures to combat the infection and other factors, the filing continues to describe uncertainty about the outlook due to renewed spread of the infection and supply constraints. - FY2023-Q1ReframedAnnual report
「During the first quarter of the current consolidated cumulative period, the economy showed some signs of recovery as measures against COVID-19 and various activity restrictions were eased. However, concern over a slowdown in the pace of recovery remains due to constraints on the supply of raw materials and energy against the backdrop of the prolonged conflict in Ukraine and a renewed spread of COVID-19 in China, as well as rising prices accompanying the rapid depreciation of the yen, and the outlook remains uncertain.」
While acknowledging easing restrictions on economic activity related to the infection and a recovery in the economy, the filing also cites concerns about a slowdown in the recovery due to the conflict in Ukraine, renewed spread of the infection in China, supply constraints, and the weaker yen and rising prices. - FY2022-Q3RestatedAnnual report
「Although the progress of vaccinations raised hopes that COVID-19 would come under control, concerns about renewed spread caused by new variants remain, and the outlook is still uncertain.」
The filing presents both expectations of containment through vaccination and concerns about renewed spread caused by new variants, maintaining uncertainty surrounding the infection risk. - FY2022-Q2ReframedAnnual report
「Although the gradual progress of vaccinations has raised hopes that COVID-19 will come under control, concerns about renewed spread caused by variants remain, and the outlook is still uncertain.」
The filing presents both expectations that the infection will come under control as vaccinations progress and concerns about renewed spread caused by variants. - FY2022-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy showed signs of recovery as economic activity resumed with the recovery of the Chinese economy and the expansion of vaccinations in Europe and the United States, despite the continued impact of the spread of COVID-19. However, concerns about a slowdown in the pace of recovery have emerged, as the third state of emergency was declared in April due to renewed spread of the infection, and the outlook remains uncertain.」
The filing acknowledges recovery driven by the recovery of the Chinese economy, the expansion of vaccinations in Europe and the United States, and the resumption of economic activity, while also citing concerns about a slowdown in the recovery due to renewed spread of the infection and the third state of emergency declaration. - FY2021ReframedAnnual report
「Although efforts to contain COVID-19 have begun with the rollout of vaccines, concerns about the spread of variants mean that there is still no clear prospect of the pandemic coming to an end.」
The filing presents both signs of containment through vaccination and concerns about the spread of variants, changing to an explanation that the timing of containment remains unclear. - FY2021-Q3ReframedAnnual report
「Although the spread of the infection began to ease after the second quarter and some recovery was seen in the domestic economy with fiscal support, further spread of COVID-19 has been a concern since the end of the year, and the outlook remains uncertain.」
While acknowledging some recovery after the second quarter amid continued deterioration in economic activity caused by the infection, the filing newly adds concerns about renewed spread after the end of the year. - FY2021-Q2RestatedAnnual report
「The economy deteriorated rapidly as economic activity stagnated and contracted with the global spread of COVID-19.」
The filing continues to describe the stagnation and contraction of economic activity caused by COVID-19 and the deterioration in the business environment. - FY2021-Q1First statedAnnual report
「Economic activity was severely restricted as COVID-19 spread worldwide, and amid concerns about the outlook, conditions remained extremely difficult.」
This filing describes, for the first time, the global spread of COVID-19 and restrictions on economic activity as separate external environmental factors, and explains that deterioration in the business environment had actually occurred.