Impact of the spread of COVID-19 on sales, construction schedules and financial conditions
First written in FY2020-Q3. 5 of 10 entries say "Restated". Latest entry: FY2024.
Urbanet Corporation moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
3 other companies' latest entry also says "Softened".
- FY2024SoftenedAnnual report
「Regulations relating to COVID-19 have been lifted. Our Group will maintain its regular infection-control measures and, if a cluster occurs, implement the infection-prevention systems developed through its COVID-19 response.」
With the removal of infectious-disease restrictions as a premise, the company has shifted its explanation from emergency measures to maintaining regular precautions and implementing response systems if a cluster occurs. - FY2023RestatedAnnual report
「Although COVID-19 has been downgraded to a Category 5 infectious disease, we will continue to request that outsourced architectural firms and construction companies thoroughly implement infection prevention measures.」
The company will continue to manage the risk of construction stoppages and completion delays caused by the spread of infection, including among outsourced contractors, even after the move to Category 5. - FY2023-Q3RestatedAnnual report
「There have been no material changes to the assumptions underlying the accounting estimates concerning the impact of the spread of COVID-19 described under “Significant Accounting Estimates” in the previous consolidated fiscal year's securities report.」
The company has reaffirmed that there have been no material changes to the assumptions underlying the accounting estimates concerning the impact of the spread of COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions underlying the accounting estimates concerning the impact of COVID-19 described in the additional information to the previous consolidated fiscal year's securities report.」
The company reconfirmed that there were no material changes to the assumptions underlying its accounting estimates concerning the impact of COVID-19. - FY2021MitigatedAnnual report
「With the spread of COVID-19, our Group is making the safety of employees and business partners its top priority. We are working to establish IT environments for staggered working hours and remote work, strengthen infection prevention measures and support vaccination, and establish systems that will enable stable business continuity even if infections occur.」
In addition to the existing measures of staggered working hours and remote work, the company explicitly described strengthened infection prevention, vaccination support and preparations for business continuity if infections occur. - FY2021-Q3WorsenedAnnual report
「In the additional information to the previous consolidated fiscal year's securities report, our Group had assumed that the impact of the spread of COVID-19 would continue throughout the current consolidated fiscal year. In light of current conditions, we have changed this assumption to one that the impact will continue for a certain period into the following consolidated fiscal year and beyond. This assumption involves considerable uncertainty, and if the impact of COVID-19 continues for longer or becomes more severe, it could affect the Group's financial position and operating results.」
The company has extended the assumed duration of the impact of COVID-19 from the previous assumption of one year, covering the current consolidated fiscal year, to a certain period into the following consolidated fiscal year and beyond. - FY2021-Q2RestatedAnnual report
「There have been no material changes to the assumptions and accounting estimates concerning the impact of COVID-19 described in the additional information to the previous fiscal year's securities report.」
The company has reaffirmed that there have been no material changes to the previous year's assumptions and accounting estimates concerning the impact of COVID-19. - FY2021-Q1RestatedAnnual report
「There have been no material changes to the assumptions and accounting estimates concerning the impact of COVID-19 described in the additional information to the previous fiscal year's securities report.」
The company stated that there had been no material changes to the previous year's assumptions and accounting estimates concerning the impact of COVID-19. - FY2020MaterialisedAnnual report
「The hotel development business has suffered a significant setback to its original plans, but we will await the recovery of the hotel and service industries from COVID-19 and the recovery of the business, then open the hotel and proceed with the business at an appropriate time.」
The potential impact of COVID-19 described in the previous fiscal year materialized as a postponed hotel opening and damage to the business plan. The company also disclosed that revenue recognition was pushed back because financial institutions had reduced the number of employees working on-site, among other factors. - FY2020-Q3First statedAnnual report
「However, if changes in the economic and financial environment caused by the future spread of COVID-19, or infections among Group employees or outsourced contractors, result in sales or construction delays, this could affect the Group's performance. We will continue to closely monitor developments.」
The company identified changes in the economic and financial environment associated with the spread of COVID-19, infections inside and outside the company, and effects on sales and construction schedules as new risks. It stated that the impact on current-year performance was minor as of the end of the third quarter, without indicating that any specific infections or construction delays had occurred.