Risk of Lower Sales and Profitability Due to the Spread of COVID-19
First written in FY2020. 4 of 14 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
51 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Although COVID-19 was reclassified as a Class 5 infectious disease during the fiscal year, the Japanese economy showed a gradual recovery trend in economic activity.」
It describes the gradual recovery trend in economic activity following the reclassification of COVID-19 as a Class 5 infectious disease. - FY2024-Q2MitigatedAnnual report
「During the cumulative second quarter, the Japanese economy showed a gradual recovery trend in economic activity following the reclassification of COVID-19 as a Class 5 infectious disease.」
It describes the gradual recovery trend in economic activity following the reclassification of COVID-19 as a Class 5 infectious disease. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter, the Japanese economy showed signs of recovery in economic activity as restrictions on movement related to COVID-19 were eased.」
It describes the easing of COVID-19-related restrictions on movement and signs of recovery in economic activity. - FY2023Described signs of recovery in social and economic activity amid the resurgence of COVID-19Annual report
「Although COVID-19 resurged during the fiscal year, the Japanese economy showed signs of recovery as social and economic activities were maintained in tandem.」
It states that, although COVID-19 continued to resurge, the economy showed signs of recovery as social and economic activities were maintained in tandem. - FY2023-Q3RestatedAnnual report
「There were no material changes to the accounting estimates concerning the impact of COVID-19 and the assumptions used in those estimates, as described in the additional information section of the securities report for the previous fiscal year.」
Reaffirmed that there were no material changes to the accounting estimates concerning the impact of COVID-19 or the related assumptions. - FY2022Specified the risk of operational shutdowns due to employee infectionsAnnual report
「If our employees become infected with COVID-19 and the infection spreads within the company, our operating results and financial condition may be affected by factory shutdowns and reduced sales activities.」
Regarding the risks of COVID-19, explicitly identified the possibility of factory shutdowns and reduced sales activities originating from employee infections and the spread of infection within the company. - FY2022-Q3RestatedAnnual report
「There were no material changes to the accounting estimates concerning the impact of COVID-19 and the assumptions used in those estimates, as described in the additional information section of the securities report for the previous fiscal year.」
Reaffirmed that there were no material changes to the accounting estimates concerning the impact of COVID-19 or the related assumptions. - FY2022-Q2RestatedAnnual report
「There were no material changes to the accounting estimates concerning the impact of COVID-19 and the assumptions used in those estimates, as described in the additional information section of the securities report for the previous fiscal year.」
Reaffirmed that there were no material changes to the accounting estimates concerning the impact of COVID-19 or the related assumptions. - FY2022-Q1RestatedAnnual report
「There were no material changes to the accounting estimates concerning the impact of COVID-19 and the assumptions used in those estimates, as described in the additional information section of the securities report for the previous fiscal year.」
Reaffirmed that there were no material changes to the accounting estimates concerning the impact of COVID-19 or the related assumptions. - FY2021WorsenedAnnual report
「The resurgence of COVID-19 delayed the full-scale resumption of economic activity, and the purchasing and sales division affected by the pandemic remained sluggish. As a result, revenue was ¥3,502 million, down 6.1% year on year.」
The resurgence of COVID-19 delayed the full-scale resumption of economic activity, with the impact becoming apparent in the sluggish purchasing and sales division and a 6.1% year-on-year decline in company-wide revenue. The risk of factory shutdowns and reduced sales activities if employees became infected was also newly specified. - FY2021-Q3WorsenedAnnual report
「Regarding the impact of COVID-19, because it is difficult to predict the course of the spread or when it will subside, we have made accounting estimates, including impairment accounting for property, plant and equipment and the recoverability of deferred tax assets, based on the assumption that the situation would continue throughout the fiscal year ending February 2021. This assumption is highly uncertain, and if the impact of COVID-19 is prolonged or becomes more severe than expected, losses may arise in the future.」
Assumed that the impact of the pandemic would continue throughout the fiscal year ending February 2021, and explicitly stated in connection with accounting estimates that losses could arise in the future if it were prolonged or became more severe than expected. - FY2021-Q2Explicitly identified uncertainty in accounting estimates due to a prolonged and more severe pandemicAnnual report
「Regarding the impact of COVID-19, we have made accounting estimates, including impairment accounting for property, plant and equipment and the recoverability of deferred tax assets, based on the assumption that society as a whole would adapt to the disease from the third quarter of the fiscal year ending February 2021 onward and that economic activity would gradually recover to pre-pandemic levels by the fourth quarter. This assumption is highly uncertain, and if the impact of the pandemic is prolonged or becomes more severe than expected, losses may arise in the future.」
While assuming that the impact of the pandemic would recover from the third quarter onward, explicitly stated in connection with accounting estimates that the assumption was highly uncertain and that losses could arise in the future if the pandemic were prolonged or became more severe. - FY2021-Q1MaterialisedAnnual report
「However, revenue for the cumulative first quarter was ¥842 million, down 19.9% year on year, as sales related to school lunches declined due to nationwide school closures, voluntary restrictions on travel and commercial-facility closures resulting from COVID-19, while sales of Japanese confectionery, centered on Niigata's specialty sasa dango, remained weak.」
The decline in sales due to the spread of COVID-19 actually occurred, with revenue down 19.9% year on year. The company also described uncertainty in accounting estimates based on the assumption that the pandemic would be prolonged and become more severe. - FY2020First statedAnnual report
「The spread of COVID-19 may affect our operating results and financial condition through sluggish sales and lower profitability.」
For the first time, explicitly identified as a business risk the risk that the spread of COVID-19 could affect operating results and financial condition through sluggish sales and lower profitability.