Business and Supply Chain Impacts of COVID-19
First written in FY2020. 2 of 13 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024-Q1.
The whole theme swung hardest in 2020: 102 of 175 companies on the "Worse" side.
- FY2024-Q1MitigatedAnnual report
「During the cumulative first-quarter period from 1 April 2023 to 30 June 2023, Japan's economy moved toward a moderate recovery as restrictions on activities related to COVID-19 were eased and social and economic activity moved toward normalization.」
The report states that restrictions on activities related to COVID-19 were eased and efforts toward normalizing social and economic activity progressed. The impact of the infection-related business restrictions previously in place eased, but uncertainty from yen depreciation, inflation and other factors remained. - FY2023Easing impact of infections alongside cost and geopolitical risksAnnual report
「During the consolidated fiscal year, Japan's economy moved toward normalization as various restrictions on activities related to COVID-19 were gradually eased. Meanwhile, the outlook remained uncertain, particularly for the manufacturing sector, owing to adverse effects on the economy, including inflation resulting from higher raw material costs due in part to the Russia-Ukraine situation and yen depreciation triggered by volatility in financial and capital markets.」
While restrictions on activities were eased and economic normalization progressed, uncertainty remained due to raw material costs, yen depreciation, inflation and the Russia-Ukraine situation. - FY2023-Q3Infections rising again alongside economic recovery and higher costsAnnual report
「During the cumulative nine-month period of the fiscal year, Japan's economy showed a moderate recovery despite a renewed upward trend in COVID-19 infections. Meanwhile, factors weighing on the economy, including inflation driven by higher raw material costs and surging energy prices, became increasingly prominent, and conditions remained uncertain.」
Infections were again on an upward trend, while the economy recovered moderately. The report states that factors weighing on the economy, including higher raw material costs and energy prices, intensified. - FY2023-Q2Infections have abated and the economy is recovering, but the risk of renewed restrictions remainsAnnual report
「During the six-month period ended 30 September 2022, COVID-19 infections in Japan were under control and signs of recovery were seen, particularly in capital investment and production activity. However, risk factors continued to include the weakening yen, higher raw-material costs and inflation caused by soaring energy prices.」
While infections subsided and the economy showed signs of recovery, risks including yen depreciation and higher raw material and energy prices persisted. - FY2023-Q1The impact of COVID-19 is easing and recovery toward normalisation is progressingAnnual report
「During the three-month period ended 30 June 2022, Japan's economy showed signs of a gradual recovery toward normalisation as COVID-19 infections subsided. However, positive and negative factors were intermingled, including higher inflation caused by rising raw-material costs and soaring energy prices.」
The company described the subsiding of COVID-19 infections and the recovery toward economic normalisation, marking a shift from the previous focus on infection spread and restrictions on activity. However, uncertainties including cost increases unrelated to the pandemic remained. - FY2022Expectations for recovery coexist with uncertainty over the impact of COVID-19Annual report
「In preparing the financial statements, estimates and projections were based on the assumption that demand would return to normal for the full following consolidated fiscal year as vaccinations progressed further and various restrictions were eased. However, the impact of COVID-19 involves many uncertainties, making it difficult to predict its full impact on operating results and other matters at present, and these may vary depending on the timing of containment.」
While assuming that demand will return to normal in the following fiscal year, the company continues to disclose the possibility that operating results may fluctuate depending on the timing of COVID-19 containment and other factors. - FY2022-Q3Recovery trend continues, but concerns over variants, supply disruptions and other issues remainAnnual report
「The financial position and operating results for the nine-month period ended 31 December are as follows.」
While economic activity became more vigorous, uncertainty remained due to the renewed spread of COVID-19. Concerns continued over the effects of variants, component shortages, supply delays, logistics disruptions and soaring energy prices. - FY2022-Q2Recovery continues, but pre-pandemic levels have not been reached and supply shortages remain a concernAnnual report
「During the six-month period ended 30 September 2021, Japan's economy was subject to repeated declarations and lifting of states of emergency. Although the domestic economy was gradually recovering, with signs of improvement in some industries, it had not returned to pre-pandemic levels.」
While the domestic economy showed a gradual recovery, it had not returned to pre-pandemic levels, and concerns over component supply shortages and other issues continued in the global economy. - FY2022-Q1Economic normalisation progressing, while concerns over variants continueAnnual report
「During the first quarter of the fiscal year, Japan's economy was subject to restrictions on corporate activity due to the reissuance of a state of emergency, although some industries, including manufacturing, were showing signs of recovery. However, the impact on economic activity from delays in COVID-19 vaccinations remained a concern. In the global economy, economic normalisation from the pandemic progressed in most countries. At the same time, concerns remained that the spread of new COVID-19 variants could slow economic growth.」
While economic recovery and normalisation progressed in parts of Japan and overseas, concerns over delayed vaccinations and the spread of new variants leading to a slowdown in economic activity continued. - FY2021-Q3WorsenedAnnual report
「Regarding the impact of the spread of COVID-19, which was described in the previous fiscal year's securities report under Additional Information as an assumption used in making accounting estimates, the company had assumed that the impact would subside by the middle of the fiscal year ending March 2021. In light of the prolonged time to containment, it now assumes that the impact will continue throughout the fiscal year ending March 2021 and has made accounting estimates concerning the valuation of inventories and the recoverability of goodwill and deferred tax assets, among other items.」
The assumption regarding the containment of COVID-19 was changed from containment by the middle of the fiscal year ending March 2021 to the impact continuing throughout that fiscal year, extending the period considered in accounting estimates. - FY2021-Q2MaterialisedAnnual report
「Amid this challenging operating environment, the group worked to establish a sales model suited to the new normal of living with COVID-19, including holding web meetings tailored to individual customers. It also promoted the transition to home-office arrangements at its overseas subsidiaries.」
The continuing impact of COVID-19 resulted in a situation requiring changes to sales operations and the transition of overseas subsidiaries to home-office arrangements. - FY2021-Q1MaterialisedAnnual report
「In the Optical Products Business, the company promoted the expansion of sales of new products and other initiatives. However, net sales and segment profit remained sluggish, mainly because COVID-19 caused delays in the progress and delivery of some projects and postponements of development projects.」
COVID-19 actually caused delays in project progress and deliveries and postponements of development projects, which were reflected in weak performance in the Optical Products Business. - FY2020First statedAnnual report
「The spread of COVID-19 caused some customer factories to suspend operations and affected the company's supply chain, resulting in delays to some delivery dates. If COVID-19 spreads again worldwide through a second or third wave, it could have a material impact on the group's operating results and financial position.」
The company separately disclosed for the first time that customer factory shutdowns, supply-chain disruptions and delivery delays had already occurred due to COVID-19, and that a renewed spread could have a material impact.