Impact of the spread of COVID-19 on demand and production activity
First written in FY2021-Q1. 6 of 13 entries say "Mitigated", first in FY2023-Q2. Latest entry: FY2024.
The whole theme swung hardest in 2020: 102 of 175 companies on the "Worse" side.
- FY2024MitigatedAnnual report
「As COVID-19 was reclassified as a Class 5 infectious disease, restrictions on the economy were eased further and inbound demand recovered, resulting in gradual improvement.」
This describes the reclassification as a Class 5 infectious disease and the easing of restrictions on economic activity, indicating that direct constraints on demand and production caused by the infectious disease had weakened further. - FY2024-Q2MitigatedAnnual report
「During the first six months of the current consolidated fiscal year, Japan's economy showed gradual improvement as COVID-19 was reclassified as a Class 5 infectious disease, restrictions on the economy were eased further, and inbound demand recovered.」
This describes the reclassification of COVID-19 as a Class 5 infectious disease, the easing of restrictions on economic activity, and the recovery of inbound demand, indicating that direct constraints on demand and production caused by the infectious disease had weakened further. - FY2024-Q1MitigatedAnnual report
「COVID-19 was reclassified as a Class 5 infectious disease, and the normalization of previously constrained economic activity is progressing.」
This describes the reclassification of COVID-19 as a Class 5 infectious disease and the progress toward normalization of economic activity, indicating that the previous direct constraints on demand and production had weakened. - FY2023MitigatedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a recovery trend as economic activity constrained by COVID-19 recovered.」
This states that direct constraints on economic activity caused by the infectious disease had shifted toward recovery. However, uncertainty regarding the impact remains in the accounting estimates. - FY2023-Q3MitigatedAnnual report
「As restrictions on activities were eased in response to COVID-19, socioeconomic activity moved toward normalization.」
This describes the easing of restrictions on activities and the normalization of socioeconomic activity, indicating that direct constraints on demand and production caused by the infectious disease had weakened. However, the possibility of valuation losses and impairment losses on real estate inventory in the event of deteriorating market conditions remains. - FY2023-Q2MitigatedAnnual report
「During the cumulative second-quarter period, Japan's economy showed signs of a gradual return to normal economic activity as restrictions were eased following the subsiding of COVID-19.」
Regarding COVID-19, the company described the subsiding of the pandemic, the easing of activity restrictions and signs of a return to normal economic activity, indicating that the direct constraints on demand and production activity had weakened. - FY2023-Q1ReframedAnnual report
「As the number of COVID-19 cases declined, signs of a recovery in economic activity emerged. Meanwhile, global conditions were affected by supply-chain disruptions resulting from soaring resource prices caused by the prolonged Russian invasion of Ukraine and the impact of the lockdown in Shanghai, China, among other factors.」
While recognising the decline in cases and recovery in economic activity, the company classified conditions as ones in which pandemic-related constraints, including supply-chain impacts from the Shanghai lockdown, remained. - FY2022-Q3ReframedAnnual report
「Although COVID-19 temporarily subsided and economic activity gradually resumed, uncertainty continued due to the spread of new variants.」
Regarding the impact of the spread of COVID-19 on demand and production activity, the company updated its assessment to include expectations for the resumption of economic activity alongside uncertainty caused by the spread of new variants. - FY2022-Q2ReframedAnnual report
「Although vaccination progressed in Europe, the United States and Japan and a normalisation of economic activity was expected, lockdowns were imposed in Southeast Asia because of delays in vaccination, restricting factory operations in the manufacturing industry.」
Regarding the impact of COVID-19, the company updated its assessment to include expectations for normalisation through vaccination, as well as delayed vaccination, lockdowns and restrictions on factory operations in Southeast Asia. - FY2021ReframedAnnual report
「Device market The electrification of automobiles and the spread of 5G are progressing, and the electronics industry as a whole is moving toward recovery. However, uncertainty remains, including the impact of COVID-19, as global semiconductor supply and demand remain tight due in part to the promotion of remote work, while production adjustments centered on the automotive sector continue amid changes in supply-chain structures.」
While the impact of COVID-19 on demand and production activity continued, the company also cited a recovery trend driven by vehicle electrification and 5G, tight semiconductor supply and demand, and adjustments to vehicle production. - FY2021-Q3ReframedAnnual report
「Revenue for the cumulative third-quarter period declined year on year, mainly due to the impact of a worldwide production slowdown that continued from the first quarter and sluggish consumer demand, among other factors. Meanwhile, revenue for the third quarter alone increased from the second quarter in line with a gradual improvement in production utilisation.」
While the worldwide production slowdown and sluggish consumer demand caused by COVID-19 continued to result in lower cumulative revenue, the company reported revenue growth in the third quarter alone as production utilisation improved. - FY2021-Q2MaterialisedAnnual report
「Although signs of a gradual recovery have emerged in production utilisation and other indicators across the electronics industry following the decline in demand in the first quarter, uncertainty has continued due to concerns that the impact of the spread of COVID-19, particularly in Europe, may be prolonged, as well as issues including tensions between the United States and China.」
While continuing to recognise the risk that the impact of COVID-19 may be prolonged, the company also described a recovery in production utilisation. - FY2021-Q1MaterialisedAnnual report
「The economic slowdown and uncertainty have continued due to concerns about the long-term impact of the spread of COVID-19 and issues including tensions between the United States and China. Revenue in the first quarter declined year on year, mainly due to lower production utilisation worldwide and sluggish consumer demand resulting from the spread of COVID-19.」
The company recognised the long-term impact of the spread of COVID-19 and stated that lower production utilisation and sluggish consumer demand had actually emerged as factors behind the revenue decline in the current quarter.