Impact of the Spread of the Novel Coronavirus Disease on the Global Economy
First written in FY2020-Q3. 7 of 15 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024-Q3.
Sojitz moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
19 other companies' latest entry also says "Softened".
- FY2024-Q3SoftenedAnnual report
「During the first nine months of the consolidated fiscal year, expectations grew for an economic recovery as global economic activity became more active following the recovery from the COVID-19 shock. However, downside pressure on the global economy continued due to the prolonged Russian invasion of Ukraine, uncertainty arising from heightened geopolitical risks, including the increasingly tense situation in the Middle East, the deterioration of China's real estate market and sluggish demand, and persistent inflation in advanced economies, although inflation was slowing, together with the continuation of monetary tightening by central banks. Concerns about a future economic downturn therefore require close monitoring.」
The company described a "recovery from the COVID-19 shock" and the global revitalisation of economic activity, explaining that the risk of economic stagnation caused by COVID-19 itself had diminished. Meanwhile, geopolitical, inflation and monetary-tightening risks continued. - FY2024-Q1SoftenedAnnual report
「In Japan, COVID-19 was downgraded in May to the same classification as seasonal influenza, easing social restrictions. Supported by the recovery in inbound visitors and government travel-support policies, the accommodation and food-service industries are moving toward recovery.」
The downgrading of COVID-19's classification and the easing of social restrictions were noted, reducing recognition of the risk that the disease itself would restrict economic activity. - FY2023SoftenedAnnual report
「In Japan, economic activity intensified as COVID-19-related restrictions were eased. However, the recovery in production and exports of core industrial products has slowed due to stagnant demand caused by higher prices and a slowdown in overseas economies, requiring particular attention to the risk of weaker external demand.」
The easing of COVID-19-related restrictions and the resulting increase in economic activity were noted, partly reducing recognition of the risk of business disruption caused by the disease itself. At the same time, the risk of weaker external demand was identified. - FY2023-Q3WorsenedAnnual report
「Although COVID-19 is moving toward containment except in some areas, including China, the risk of a future economic recession requires close monitoring.」
While the pandemic overall was considered to be moving toward containment, the premise remained that infections and economic disruption would continue in some areas, including China, and concern over an economic recession was also noted. - FY2023-Q2SoftenedAnnual report
「During the cumulative second-quarter period of the consolidated fiscal year, downward pressure on the global economy increased due to Russia’s military invasion of Ukraine and the effects of sanctions imposed by various countries, accelerating inflation and the resulting global monetary tightening, and uncertainty over the outlook for China’s economy. Although the novel coronavirus pandemic was subsiding, concerns over a future recession require continued monitoring.」
COVID-19 was described as being "on the path to containment," partly reducing the recognition of risks from the disease itself compared with the previous quarter. However, China's zero-COVID policy and its impact on the economy remained concerns. - FY2023-Q1WorsenedAnnual report
「In China, economic activity was significantly depressed in the first quarter by the impact of the zero-COVID policy, but various business confidence indices, including the PMI, have recently improved substantially as lockdowns were lifted and economic activity resumed. Downside risks, including renewed lockdowns in major cities, nevertheless require continued attention.」
The economic drag caused by China's zero-COVID policy and the risk of renewed lockdowns were identified, and concern over the economic impact of COVID-19 continued. - FY2022RestatedAnnual report
「During the period, downward pressure on the global economy increased amid the start of Russia’s military invasion of Ukraine and the effects of sanctions imposed by various countries. Continued vigilance is required over surging resource prices, supply constraints and accelerating inflation resulting from supply-chain disruptions, sharp interest-rate increases and yen depreciation caused by monetary tightening by central banks, as well as the possibility of a renewed spread of the novel coronavirus.」
The possibility of a resurgence in COVID-19 infections continues to be identified as a factor requiring vigilance in the external environment. - FY2022-Q3WorsenedAnnual report
「COVID-19 infections, including variants such as Omicron, are currently resurging, requiring continued monitoring of the impact on markets, including the prolonged global supply-demand imbalance and resulting inflation, as well as currency depreciation caused by capital outflows from emerging markets due to monetary tightening by the FRB and other central banks.」
The resurgence of COVID-19 infections, including the Omicron variant, and the prolonged supply-demand imbalance and inflation were identified as new concerns. - FY2022-Q2SoftenedAnnual report
「During the cumulative second-quarter period of the current consolidated fiscal year, the number of new COVID-19 cases worldwide was trending downward, and some regions showed signs of economic recovery.」
The downward trend in new cases and economic recovery in some regions were noted, partly easing the previous recognition of risks from renewed infections and a slowdown in recovery. However, uncertainty remained regarding regional infection trends and supply constraints. - FY2022-Q1WorsenedAnnual report
「However, given the spread of the Delta variant, the pace of economic recovery is expected to slow depending on future infection trends.」
While signs of recovery driven by vaccine rollouts and the effects of government policies were evident, the spread of the Delta variant was newly identified as a potential factor slowing the pace of economic recovery. - FY2021-Q3WorsenedAnnual report
「During the cumulative third-quarter period of the current consolidated fiscal year, restrictions on the movement of people and goods associated with the spread of COVID-19 were eased and economic activity began to resume. However, activity had not recovered to pre-pandemic levels, and in some regions restrictions were being tightened again as infections resurged, leaving continued concern over stagnation caused by a second wave.」
Although economic activity resumed, it did not return to pre-pandemic levels. The resurgence of infections and tightening of restrictions in some regions, together with concern over stagnation caused by a second wave, continued. - FY2021-Q2WorsenedAnnual report
「During the cumulative second-quarter period of the current consolidated fiscal year, restrictions on the movement of people and goods associated with the spread of COVID-19 were eased and economic activity began to resume. However, activity had not recovered to pre-pandemic levels, and in some regions restrictions were being tightened again as infections resurged, leaving continued concern over stagnation caused by a second wave.」
Although economic activity resumed, it did not return to pre-pandemic levels. The resurgence of infections and tightening of restrictions in some regions, together with concern over stagnation caused by a second wave, continued. - FY2021-Q1WorsenedAnnual report
「Economic activity is gradually resuming, but the pace of recovery remains uncertain, and further stagnation due to a second wave of infections is a concern.」
The focus of concern regarding COVID-19 has broadened from restrictions on economic activity to uncertainty over the pace of recovery and the risk of further stagnation caused by a second wave of infections. - FY2020MaterialisedAnnual report
「During the current fiscal year, the global economic slowdown intensified due to US-China trade tensions, slower growth in the Chinese economy, the uncertainty surrounding Brexit and the situation in the Middle East. In addition, the impact of the COVID-19 pandemic began to emerge, severely restricting the movement of people and goods, and the economic environment deteriorated rapidly worldwide.」
The novel coronavirus, which first appeared as an item requiring close monitoring in the third quarter, manifested itself as restrictions on the movement of people and goods and a rapid deterioration in the global economy as the pandemic spread. - FY2020-Q3First statedAnnual report
「The impact of the spread of the novel coronavirus on the global economy and other factors will continue to require close monitoring.」
While the business and other risks section states that no new risks have arisen, the discussion of the business environment identifies, for the first time, the impact of the spread of the novel coronavirus on the global economy as a factor requiring close monitoring.