Business and earnings impact of COVID-19 and uncertainty in accounting estimates
First written in FY2021-Q1. 3 of 9 entries say "Restated". Latest entry: FY2024.
Alfresa Holdings moved to the "Worse" side of this theme in 2021, 3 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 2 of 9 companies on the "Worse" side.
2 other companies' latest entry also says "Softened".
- FY2024SoftenedAnnual report
「Although a moderate recovery has continued since COVID-19 was reclassified as a Category V infectious disease in May 2023, a downturn in overseas economies, including the impact of global monetary tightening and concerns about the outlook for China's economy, remains a risk that could weigh on economic activity.」
Regarding COVID-19, the Company stated that the economy would continue its gradual recovery after the shift to Category V, and awareness of the business impact of the pandemic had eased from the previous fiscal year. Meanwhile, global monetary tightening and the outlook for the Chinese economy remain risks. - FY2024-Q1WorsenedAnnual report
「Although the legal classification of COVID-19 under the Infectious Diseases Act was changed to a Class 5 infectious disease in May of this year, signs of a renewed spread have emerged.」
The Company stated that the pandemic appeared to be spreading again even after its classification was shifted to Category V, indicating heightened risk awareness from the previous signs of containment. - FY2023SoftenedAnnual report
「As the COVID-19 pandemic has become prolonged and, although signs of containment have emerged, the outlook remains uncertain」
Although the prolonged pandemic and uncertainty remain, signs of containment have been stated more explicitly than previously, and the perceived risk has eased to some extent. - FY2023-Q2RestatedAnnual report
「During the six-month period ended 30 September, the COVID-19 pandemic continued for an extended period, and there was no clear prospect of containment」
The Company continues to indicate, as in the previous quarter, that the pandemic is prolonged and that the outlook for containment remains uncertain. - FY2023-Q1WorsenedAnnual report
「As the COVID-19 pandemic has become prolonged and there is no clear prospect of containment」
The Company continues to present more clearly the prolonged pandemic and the lack of visibility regarding its containment. - FY2021WorsenedAnnual report
「The Group has made accounting estimates, including impairment accounting for fixed assets, assuming that the impact will continue throughout the fiscal year ending March 2022.」
The assumption was extended so that the impact of COVID-19 would continue not only through the fiscal year ending March 2021 but also throughout the fiscal year ending March 2022, premised on a prolonged impact. - FY2021-Q3RestatedAnnual report
「Based on information available at this time and certain conditions deemed reasonable, the Group has made accounting estimates, including impairment accounting for fixed assets, assuming that the impact will continue throughout the fiscal year ending March 2021. The assumptions used in these estimates involve uncertainty, and changes in the timing of the containment of COVID-19 or in the economic environment may affect the Group’s business results.」
The Company continues to disclose the assumption that the impact of the pandemic will continue throughout the fiscal year ending March 2021, as well as uncertainty in estimates regarding the timing of containment and the economic environment. - FY2021-Q2RestatedAnnual report
「Based on information available at this time and certain conditions deemed reasonable, the Group has made accounting estimates, including impairment accounting for fixed assets, assuming that the impact will continue throughout the fiscal year ending March 2021. The assumptions used in these estimates involve uncertainty, and changes in the timing of the containment of COVID-19 or in the economic environment may affect the Group’s business results.」
The Company continues to disclose the assumption that the impact of COVID-19 will continue throughout the fiscal year ending March 2021, as well as uncertainty in estimates regarding the timing of containment and the economic environment. - FY2021-Q1First statedAnnual report
「The spread of COVID-19 has had a broad impact on the economy and corporate activities. The Group has also faced a challenging business environment, including fewer patients seeking medical care and a decline in the number of surgeries at customer medical institutions, as well as restrictions on sales activities, and its business results have been affected to a certain extent. Based on information available at this time and certain conditions deemed reasonable, the Group has made accounting estimates, including impairment accounting for fixed assets, assuming that the impact will continue throughout the fiscal year ending March 2021. The assumptions used in these estimates involve uncertainty, and changes in the timing of the containment of COVID-19 or in the economic environment may affect the Group’s business results.」
The decline in patients seeking medical care, decrease in surgeries and restrictions on sales activities due to COVID-19 affected actual results, and accounting estimates were made on the assumption that the impact would continue throughout the fiscal year ending March 2021. The disclosure also describes uncertainty regarding the timing of containment and changes in the economic environment.