Impact of COVID-19 on Business Operations and Performance
First written in FY2020. 5 of 15 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025DroppedAnnual report
「In the global economy, economic conditions remained firm, led by personal consumption, as inflation slowed and central banks cut interest rates in Europe and the United States. However, the outlook is expected to remain uncertain due to higher US tariffs, the increasingly complex conflicts in Ukraine and the Middle East, and the prolonged economic slowdown resulting from China's prolonged property recession and deteriorating labor market.」
In the filing's discussion of the economic environment and business and other risks, COVID-19 is no longer identified by name as a major uncertainty. - FY2024-Q2MitigatedAnnual report
「Although the reclassification of COVID-19 as a Class 5 infectious disease lifted restrictions on activities and economic activity is moving toward normalization, the outlook is expected to remain uncertain due to the prolonged surge in raw material and fuel prices, rising prices accompanying the weaker yen, the unresolved situation in Ukraine in the global economy and concerns over a downturn in the Chinese economy.」
The company explains that the reclassification of COVID-19 as a Class 5 infectious disease lifted restrictions on activities and economic activity is moving toward normalization. Meanwhile, uncertainty related to raw material and fuel prices, the weaker yen, the situation in Ukraine and the Chinese economy continues. - FY2024-Q1Most activity restrictions lifted, but uncertainty continuesAnnual report
「Although most restrictions on activities related to COVID-19 have been lifted and economic activity is gradually moving toward normalization, the outlook is expected to remain uncertain due to the prolonged semiconductor shortage, surging raw material and fuel prices, rising prices accompanying the weaker yen, the unresolved Ukraine issue in the global economy and the emergence of financial instability.」
The company explains that, while most restrictions on activities have been lifted and economic activity is moving toward normalization, uncertainty in the external environment, including the pandemic, continues. - FY2023RestatedAnnual report
「Although economic activity is gradually moving toward normalization as restrictions on activities related to COVID-19 are eased, the outlook is expected to remain uncertain due to the prolonged semiconductor shortage, surging raw material and fuel prices, rising prices accompanying the weaker yen, the unresolved Ukraine issue in the global economy and the emergence of financial instability at the end of the fiscal year.」
While referring to moves toward normalization following the easing of activity restrictions, the company continues to recognize uncertainty in the external environment, including the pandemic. - FY2023-Q3RestatedAnnual report
「As the end of the COVID-19 pandemic remains unforeseeable, the outlook is expected to remain uncertain due to the prolonged semiconductor shortage, higher raw-material and fuel prices, rising prices associated with the sharp depreciation of the yen, and the Ukraine crisis, which has yet to show signs of abating.」
The company continues to recognize uncertainty in the business environment, including the difficulty of foreseeing the end of the COVID-19 pandemic. - FY2023-Q2RestatedAnnual report
「As the end of the COVID-19 pandemic remains unforeseeable, the outlook is expected to remain uncertain due to the prolonged semiconductor shortage, higher raw-material and fuel prices, rising prices associated with the sharp depreciation of the yen, and the Ukraine crisis, which has yet to show signs of abating.」
The company continues to recognize uncertainty in the business environment, including the difficulty of foreseeing the end of the COVID-19 pandemic. - FY2023-Q1RestatedAnnual report
「As the end of the COVID-19 pandemic remains unforeseeable, the outlook is expected to remain uncertain due to the prolonged semiconductor shortage, higher raw-material and fuel prices, rising prices associated with the sharp depreciation of the yen, and the Ukraine crisis, which has yet to show signs of abating.」
The company continues to recognize that the end of the COVID-19 pandemic remains difficult to foresee, and uncertainty in the business environment continues. - FY2022-Q3Signs of recovery alongside concerns about variantsAnnual report
「During the cumulative third quarter of the current fiscal year, as the impact of COVID-19 continued, the number of infections declined with the progress of vaccinations and signs of a recovery in economic activity began to emerge in Japan. However, concerns over further infections remain following the emergence of new variants, and concerns over stagnating economic activity and an economic downturn have not been dispelled, so the outlook is expected to remain uncertain.」
While referring to a recovery in economic activity as vaccinations progress and the number of infections declines, the company indicates concerns over the spread of new variants, stagnating economic activity and an economic downturn. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy remained in an extremely difficult condition as the spread of COVID-19 constrained economic activity through repeated declarations of a state of emergency and other measures. Meanwhile, there were also signs of improvement, including a higher vaccination rate in Japan and the lifting of the state of emergency, but」
The company continues to recognize the constraints on economic activity caused by COVID-19 and the difficult business environment. It also refers to the higher vaccination rate and the lifting of the state of emergency. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy remained extremely difficult as the spread of COVID-19 constrained economic activity through repeated declarations of a state of emergency and other measures. As vaccinations are promoted to prevent further infections, close attention must be paid to the impact of future infection trends on domestic and overseas economies, and economic conditions and the outlook are expected to remain uncertain for the time being.」
Economic activity continues to be constrained by repeated declarations of a state of emergency, and the economic environment is described as remaining in an extremely difficult condition. Uncertainty over the outlook due to infection trends also continues. - FY2021WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy remained in an extremely difficult condition, with corporate earnings continuing to decline substantially and the employment environment deteriorating amid the prolonged global spread of COVID-19. With concerns over further infections, the outlook remains uncertain and difficult to foresee.」
The prolonged global spread of COVID-19 has led to a substantial decline in corporate earnings, deterioration in the employment environment and concerns over further infections, intensifying the deterioration and uncertainty in the business environment. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan's economy remained in an extremely difficult condition, with corporate earnings continuing to decline substantially and the employment environment deteriorating amid the prolonged global spread of COVID-19. With concerns over further infections, the outlook remains uncertain and difficult to foresee.」
The global spread of COVID-19 has been prolonged, resulting in a substantial decline in corporate earnings, deterioration in the employment environment and concerns over further infections, intensifying the deterioration and uncertainty in the business environment. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan's economy remained in a difficult and stagnant state. Although economic activity has been recovering since the state of emergency was lifted, sentiment deteriorated amid the global spread of COVID-19, and concerns over further infections remain.」
The global spread of COVID-19 has led to deteriorating economic sentiment, stagnating economic activity and concerns over further infections. Against concerns over activity restrictions and a second wave in the previous quarter, the explanation has shifted to worsening business conditions accompanying the global spread of the disease. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the Japanese economy showed signs of recovery as activity restrictions related to COVID-19 were eased, but remained in an uncertain outlook because a mood of self-restraint persisted in many sectors and there were concerns about a second wave of infections.」
Even after restrictions on activities were relaxed, a mood of self-restraint remained and concerns about a second wave of infections were expressed. Uncertainty in the business environment caused by COVID-19 continued and increased. - FY2020First statedAnnual report
「If an unforeseen large-scale disaster, an infectious disease such as COVID-19, an unexpected accident, an act of terrorism or other unlawful act occurs, it may become difficult to maintain normal business operations, and depending on the circumstances, product supplies to customers may be delayed, which could affect financial performance.」
The Company first explicitly identified an infectious disease as a specific, standalone business continuity risk. Regarding results of operations, it explained that sales declined at the initial outbreak in China, while sales of rayon-cotton, a raw material for masks, recovered slightly toward the end of the period.