Risk of declining demand and supply disruptions due to the novel coronavirus disease (COVID-19)
First written in FY2020. 7 of 16 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2025: 5 of 18 companies on the "Worse" side.
15 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「In addition, the emergence of new infectious diseases and other food-related issues, such as problems involving pesticide residues, could cause higher purchase prices and sluggish consumption, affecting net sales and other items.」
In the risk disclosures in this annual securities report, direct references to COVID-19 have been removed and replaced with the more general wording "new infectious diseases and other risks." - FY2024-Q3RestatedAnnual report
「During the first nine months of the fiscal year, Japan’s economy continued to face an uncertain outlook. Economic activity was normalizing after the classification of COVID-19 under the Infectious Diseases Control Law was changed to Category 5, but the yen’s depreciating trend continued and global resource and raw-material prices remained high due to the situation involving Russia and Ukraine.」
The disclosure continues to describe the normalization of economic activity following the reclassification of COVID-19 under Category 5 of the Infectious Diseases Control Law, alongside uncertainty caused by yen depreciation and surging resource and raw-material prices. - FY2024-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan’s economy continued to face an uncertain outlook. Economic activity was normalizing after the classification of COVID-19 under the Infectious Diseases Control Law was changed to Category 5, but the yen’s depreciating trend continued and global resource and raw-material prices remained high due to the situation involving Russia and Ukraine.」
As in the previous quarter, the disclosure describes the normalization of economic activity following the reclassification of COVID-19 under Category 5 of the Infectious Diseases Control Law, alongside uncertainty caused by yen depreciation and surging resource and raw-material prices. - FY2024-Q1ReframedAnnual report
「During the first three months of the fiscal year, Japan’s economy continued to face an uncertain outlook. Economic activity was normalizing after the classification of COVID-19 under the Infectious Diseases Control Law was changed to Category 5, but the yen’s depreciating trend continued and global resource and raw-material prices remained high due to the situation involving Russia and Ukraine.」
The wording has shifted from the previous explanation of activity restrictions and supply disruptions related to COVID-19 to a description of the normalization of economic activity following the reclassification of COVID-19 under Category 5 of the Infectious Diseases Control Law, alongside uncertainty caused by yen depreciation and surging resource and raw-material prices. - FY2023ReframedAnnual report
「Restrictions on activity related to COVID-19 were gradually eased and economic activity was beginning to recover moderately, but the outlook for the domestic economy remained uncertain because of the renewed spread of infections, the rapid depreciation of the yen and higher energy and raw material prices resulting from the unstable international situation.」
The wording has shifted from a focus on demand and supply disruptions caused by infectious diseases to a description of eased restrictions and a recovery in economic activity, while listing a resurgence of infections and soaring prices as sources of uncertainty. - FY2023-Q3ReframedAnnual report
「During the cumulative third-quarter period, Japan's economy showed signs of recovery as restrictions on social and economic activity were eased despite the impact of COVID-19. However, the prolonged situation in Ukraine, surging fuel and raw-material prices, and the rapid depreciation of the yen continued, and the outlook remained uncertain.」
The wording has shifted from the previous focus on restrictions caused by infectious diseases and changes in the demand structure to a description of eased restrictions on social and economic activity and signs of economic recovery, alongside uncertainty caused by soaring prices and yen depreciation. - FY2023-Q2RestatedAnnual report
「During the first six months of the fiscal year, Japan’s economy was moving toward a normalization of economic activity as restrictions on personal activity were eased following progress in vaccinations. However, the outlook remains uncertain amid the rapid depreciation of the yen, soaring energy and raw-material prices resulting from the prolonged Russian invasion of Ukraine, and concerns about higher prices arising from these developments.」
As in the previous quarter, the disclosure states that concerns over soaring prices and inflation continue despite normalization resulting from the easing of restrictions on activity. - FY2023-Q1ReframedAnnual report
「During the first three months of the fiscal year, Japan’s economy was moving toward a normalization of economic activity as restrictions on personal activity were eased following progress in vaccinations. However, the outlook remains uncertain amid the rapid depreciation of the yen, soaring energy and raw-material prices resulting from the prolonged Russian invasion of Ukraine, and concerns about higher prices arising from these developments.」
The disclosure describes the normalization of economic activity as vaccination rates rise and restrictions on activity are eased, while continuing to acknowledge an uncertain economic environment, including the impact of infectious diseases. - FY2022RestatedAnnual report
「Regarding the impact of COVID-19, vaccination has become widespread both domestically and globally, and the pandemic is expected to subside. However, the outlook remains uncertain due to the emergence of variants. There are also concerns about the impact of price fluctuations caused by production slowdowns at suppliers of raw materials and other inputs.」
The disclosure continues to describe expectations that vaccination will bring the pandemic under control, alongside uncertainty caused by variants and production slowdowns at raw-material suppliers. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter, Japan's economy faced a situation in which the political and economic impact of the prolonged global spread of COVID-19 was immeasurable,」
The political and economic impact of the prolonged global spread of COVID-19 continued to represent significant uncertainty. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, Japan's economy faced a situation in which the political and economic impact of the prolonged global spread of COVID-19 was immeasurable」
The political and economic impact of the prolonged global spread of COVID-19 continued to represent significant uncertainty. - FY2021ReframedAnnual report
「Regarding the impact of COVID-19, vaccination has begun both domestically and globally, and the pandemic is expected to subside. However, the outlook remains uncertain due to the emergence of variants. There are also concerns about the impact of price fluctuations caused by production slowdowns at suppliers of raw materials and other inputs. To prepare for disruptions in raw-material supplies and temporary production stoppages due to employee infections, the Company is implementing the necessary measures to prevent the spread of infection in coordination with the relevant public health centers and local governments.」
The updated risk disclosure cites expectations that vaccination will help bring the pandemic under control, while also listing concerns over variants, production slowdowns at raw-material suppliers, disruptions in raw-material supplies, and production stoppages due to employee infections. - FY2021-Q3RestatedAnnual report
「In the food industry, the declaration of a state of emergency in response to the spread of COVID-19, requests to refrain from going out and shorten business hours, and increased demand for eating at home led to major changes, including a downturn in the food-service industry and an increase in in-home dining demand」
The downturn in the food-service industry and changes in the demand structure associated with COVID-19 continue to be described as events that actually occurred. - FY2021-Q2MaterialisedAnnual report
「In the food industry, the declaration of a state of emergency in response to the spread of COVID-19, requests to refrain from going out and shorten business hours, and increased demand for eating at home led to major changes, including a downturn in the food-service industry and an increase in in-home dining demand」
The changes in the demand structure, namely the downturn in the food-service industry and the increase in demand for eating at home associated with COVID-19, continue to be described as events that actually occurred. - FY2021-Q1MaterialisedAnnual report
「In the food industry, the declaration of a state of emergency in response to the spread of COVID-19, requests to refrain from going out and shorten business hours, and increased demand for eating at home led to major changes, including a downturn in the food-service industry and an increase in in-home dining demand」
The disclosure describes the downturn in the food-service industry and changes in the demand structure associated with COVID-19 as events that actually occurred. The previously disclosed risks of weaker demand and supply disruptions have materialized as actual changes in the food industry. - FY2020First statedAnnual report
「Looking ahead, it is extremely difficult to reasonably forecast when the COVID-19 pandemic will subside and its subsequent impact on economic conditions and personal consumption. Disruptions in the supply of raw materials or temporary production stoppages due to employee infections could affect the Company's operating results and financial position.」
The risk disclosure provides detailed, standalone coverage of COVID-19, specifying weaker demand for commercial products, disruptions in raw-material supplies, production stoppages due to employee infections, and effects on economic conditions and personal consumption as specific forms of the existing weather, natural-disaster and infectious-disease risks.