Business and Demand Impact of COVID-19
First written in FY2021-Q1. 7 of 16 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
Toyo Suisan moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
36 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual reportThe description of the FY2025 business environment, key risks and financial results does not identify demand and business impacts from COVID-19 as a separate theme.
- FY2024MitigatedAnnual report
「Sales in the seafood products business increased due to the recovery in customer traffic at convenience stores and demand for commercial-use and foodservice ingredients, as well as deliveries of products used as hometown tax donation gifts.」
As restrictions on movement were eased and economic activity normalized, demand from convenience stores and for commercial-use and foodservice ingredients recovered further, further easing the previous decline in demand caused by the pandemic. - FY2024-Q3MitigatedAnnual report
「Sales in the seafood products business increased as demand recovered from customer traffic at convenience stores and for commercial-use and foodservice ingredients. Sales also increased due to strong performance in the local fisheries business and deliveries of products used as hometown tax donation gifts.」
The recovery in demand from convenience stores and for commercial-use and foodservice products continued as restrictions on movement were eased and economic activity normalized, easing the previous decline in demand caused by the pandemic. - FY2024-Q2MitigatedAnnual report
「In the seafood products business, as economic activity normalized following the easing of COVID-19 restrictions on movement, some products for mass retailers’ ready-to-eat food sections and food delivery businesses performed poorly due to the reaction to the earlier surge in demand. However, customer traffic at convenience stores recovered, and demand for ingredients for commercial use and foodservice began to recover in earnest.」
As restrictions on movement were eased and economic activity normalized, demand from convenience stores and for commercial-use and foodservice ingredients recovered, easing the previous decline in demand caused by the pandemic. - FY2024-Q1MitigatedAnnual report
「In the seafood products business, demand increased for products supplied to convenience stores, supermarket prepared foods and rice balls, and foodservice operators as restrictions on movement were lifted and foot traffic recovered. The business therefore performed well.」
The company states that demand from convenience stores and foodservice operators, which had previously been affected, recovered as restrictions on movement were lifted and foot traffic recovered, resulting in strong performance in the seafood products business. - FY2023-Q3RestatedAnnual report
「Regarding accounting estimates, because the impact of COVID-19 on the Group’s financial results and other matters during the cumulative third quarter of the current consolidated fiscal year was minor, there has been no material change in the assumption that the future impact will also be limited.」
Although pandemic-related changes in demand by business continue, the impact on consolidated results is minor, and the company states that there has been no material change in the assumption that the future impact will be limited. - FY2023-Q2RestatedAnnual report
「Regarding accounting estimates, because the impact of COVID-19 on the Group’s financial results and other matters during the cumulative second quarter of the current consolidated fiscal year was minor, there has been no material change in the assumption that the future impact will also be limited.」
Although pandemic-related changes in demand by business continue, the impact on consolidated results is minor, and the company states that there has been no material change in the assumption that the future impact will be limited. - FY2023-Q1RestatedAnnual report
「Regarding accounting estimates, because the impact of COVID-19 on the Group’s financial results and other matters during the cumulative first quarter of the current consolidated fiscal year was minor, there has been no material change in the assumption that the future impact will also be limited.」
Although pandemic-related changes in demand by business continue, the impact on consolidated results is minor, and the company states that there has been no material change in the assumption that the future impact will be limited. - FY2022RestatedAnnual report
「COVID-19 has spread worldwide. To prevent its spread, the Group is implementing strict hygiene controls and efficient operating measures, including staggered working hours and working from home. The impact of COVID-19 on the Group is currently minor, but if the infection spreads further, the Group’s businesses and financial results could be affected by plant shutdowns caused by employee infections and supply chain disruptions.」
While the pandemic continues to reduce commercial-use demand and increase demand for home consumption, its current impact on consolidated results is considered minor, and the Group continues to implement measures including stricter hygiene controls and changes to work arrangements. - FY2022-Q3MaterialisedAnnual report
「In the chilled food business, sales of commercial-use products for foodservice operators, workplace cafeterias and others continued to decline due to the effects of requests to refrain from going out and other measures to prevent the spread of COVID-19. Despite continued demand for home consumption of fresh noodles and efforts to expand sales, particularly of the core “Maruchan Yakisoba 3 Servings” and “Maruchan Nama Ramen 3 Servings” series, sales declined.」
The effects of COVID-19 continued to affect the chilled food business through lower sales of commercial-use products and sustained demand for home consumption, resulting in a 4.0% year-on-year decline in sales. - FY2022-Q2MaterialisedAnnual report
「In the chilled food business, sales of commercial-use products for foodservice operators and others continued to decline due to the effects of requests to refrain from going out and other measures to prevent the spread of COVID-19. Despite continued strong demand for fresh noodles and efforts to expand sales, particularly of the core “Maruchan Yakisoba 3 Servings” and “Kita no Ajiwai Zaru Ramen 2 Servings” series, sales declined.」
The effects of COVID-19 have continued to affect the chilled food business in the form of lower sales of commercial-use products and strong demand for household products. - FY2022-Q1MaterialisedAnnual report
「In the overseas instant noodle business, demand remained higher than before the spread of COVID-19. In the United States, the “Yakisoba” and “Bowl” series performed well, but sales declined for the core “Ramen” bagged noodles and “Instant Lunch” cup noodle series, partly reflecting the sharp demand increase in the previous period. In Mexico, sales increased as both core cup noodles and bagged noodles performed well while foreign exchange rates remained stable.」
The effects of the pandemic materialized differently by business and region, with demand remaining high compared with before the pandemic, while the business also experienced the effects of the sharp demand increase in the previous period, lower sales of core U.S. products and higher sales in Mexico. - FY2021MaterialisedAnnual report
「COVID-19 has been a headwind for commercial-use seafood products, commercial-use frozen foods, the boxed meals and prepared foods business (vendor business), overseas instant noodles (manufacturing), and cup noodles, while it has been a tailwind for bagged noodles, fresh noodles, overseas instant noodles (demand), tray-packed cooked rice, freeze-dried soups and retail frozen foods.」
The effects of COVID-19 materialized over the full year as divergent increases and decreases in demand by business, with weaker commercial-use demand coexisting with stronger household and stockpiling demand. - FY2021-Q3MaterialisedAnnual report
「In the chilled food business, sales of foodservice products and other commercial-use products declined due to the effects of requests to refrain from going out and other measures to prevent the spread of COVID-19, but demand for retail products increased as people had more opportunities to eat at home. Fresh noodles performed well, led by core products including the “Maruchan Yakisoba 3 Servings” series and udon and ramen products. The “Paripari Mugen” series, which entered its fourth year since launch, also performed well. Chilled foods performed well, particularly retail products, while frozen foods fell below the previous year due to weaker demand for commercial-use products. As a result, net sales were ¥58,477 million, up 7.8% year on year, and segment profit was ¥5,301 million, up 28.5%, due to higher sales and lower raw material costs.」
The effects of COVID-19 appeared in the chilled food business as lower sales of commercial-use products and increased demand for retail products for home consumption. The chilled food business posted a 7.8% increase in sales and a 28.5% increase in segment profit. - FY2021-Q2MaterialisedAnnual report
「In the seafood products business, demand from some supermarkets and food delivery businesses increased due to the effects of requests to refrain from going out and other measures to prevent the spread of COVID-19, driving higher sales. However, demand from convenience stores, foodservice operators and hotels declined, resulting in lower sales volume overall. Sales also decreased because market prices for salmon and trout, the core products, fell. As a result, net sales were ¥12,891 million, down 13.6% year on year. Segment profit was ¥217 million, compared with a segment loss of ¥31 million in the previous year. Although personnel expenses and depreciation increased because a consolidated subsidiary invested in processing equipment, profit benefited from the impact of the previous year's inventory valuation review, efforts to sell products at appropriate prices and lower storage fees resulting from reduced inventory levels.」
The effects of COVID-19 appeared differently across businesses, in the form of increased demand from supermarkets and food delivery services and weaker demand from convenience stores, foodservice operators and hotels. While the seafood products business posted a 13.6% decline in sales, segment results improved from a loss in the previous year to a profit of ¥217 million. The company states that there has been no material change in its accounting estimate that the impact in the current quarter was minor and the future impact would be limited. - FY2021-Q1MaterialisedAnnual report
「In the seafood products business, demand from some supermarkets increased due to the effects of requests to refrain from going out and other measures to prevent the spread of COVID-19, but sales volume declined as demand from convenience stores, foodservice operators and hotels fell. As a result, net sales were ¥6,860 million, down 7.2% year on year.」
The effects of COVID-19 became evident in the form of weaker demand from foodservice operators, hotels and convenience stores and lower sales volume. By contrast, demand for retail products in the instant noodle, chilled food and processed food businesses increased as people had more opportunities to eat at home. The company states that there has been no material change in its accounting estimate that the impact in the current quarter was minor and the future impact would be limited.