Deterioration in the Business Environment Caused by COVID-19
First written in FY2020. 5 of 12 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2020: 102 of 175 companies on the "Worse" side.
- FY2024DroppedAnnual report
「Although rising prices had exerted downward pressure on the Japanese economy during the consolidated fiscal year, expectations for an economic recovery have recently strengthened, with signs of wage increases emerging.」
The business-environment risks from COVID-19 and its variants that had been explicitly identified through the previous quarter were not explicitly mentioned in the full-year report, which instead focused on price and geopolitical factors. - FY2023-Q3MitigatedAnnual report
「With restrictions related to COVID-19 being eased, signs of recovery were seen as social and economic activity moved toward normalization.」
The report states that social and economic activity is recovering toward normalization against the backdrop of eased pandemic-related restrictions, indicating that the impact of activity restrictions related to the pandemic has partly diminished. - FY2023-Q2MitigatedAnnual report
「With restrictions related to COVID-19 eased, social and economic activity has gradually shown signs of recovery toward normalization.」
The report describes the easing of restrictions related to the pandemic and the recovery in economic and social activity, indicating some improvement from the previous descriptions, which emphasized the risk of a resurgence. - FY2023-Q1WorsenedAnnual report
「Amid the resurgence of COVID-19, the outlook for the economy remains unpredictable.」
While describing the normalization of social and economic activity, the report continues to identify a resurgence of COVID-19 infections as a downside risk to the economic outlook. - FY2022Limited impact and resurgence risk presented togetherAnnual report
「Although the impact of COVID-19 forced production and sales activities to stall in some regions of Japan and overseas, demand for detached homes increased due to changes in lifestyles and other factors, limiting the impact on the Group’s performance. However, the impact of the pandemic remains uncertain, including due to the emergence of variants,」
While reviewing the impact of the pandemic as limited in terms of performance, the company continues to identify the possibility of a resurgence and prolonged impact from variants, as well as a decline in purchasing appetite, as risks. - FY2022-Q3WorsenedAnnual report
「With a sixth wave caused by a new COVID-19 variant now emerging, the outlook remains uncertain.」
The company added the emergence of a sixth wave caused by a new variant and described the risk of a resurgence in relation to the already materialized COVID-19 pandemic. - FY2022-Q2MitigatedAnnual report
「Economic and social activity has repeatedly stalled and resumed, but government and administrative support measures, along with the promotion of COVID-19 vaccinations, have enabled economic and social activity to resume gradually, with signs of recovery.」
Although the pandemic risk continues, the disclosure describes the gradual reopening and recovery of economic and social activity, indicating some improvement from the previous emphasis on the risk of a fifth wave. - FY2022-Q1WorsenedAnnual report
「With the risk of a fifth wave of COVID-19 increasing recently, the outlook for the economy remains uncertain.」
The company stated that the risk of a fifth wave of COVID-19 was increasing and added the risk of a resurgence of the pandemic. - FY2021-Q3WorsenedAnnual report
「The situation remains unpredictable due to the impact of the third wave of COVID-19.」
The company added the impact of the third wave and the uncertainty surrounding the outlook for containment in relation to the already materialized COVID-19 pandemic. - FY2021-Q2RestatedAnnual report
「With the infection situation and the timing of containment remaining uncertain, the risk of a resurgence of COVID-19 cannot be ruled out, and the situation remains unpredictable.」
The company described the reopening of economic activity and some signs of recovery in relation to COVID-19, while explaining that the risk of a resurgence and uncertainty over the timing of containment continue. - FY2021-Q1WorsenedAnnual report
「As the risk of a renewed spread of infections, the so-called second wave, has suddenly increased, the outlook remains uncertain both in Japan and overseas.」
The company added the risk of a second wave after the lifting of restrictions and continued uncertainty over the outlook in Japan and overseas in relation to the already materialized COVID-19 pandemic. - FY2020First statedAnnual report
「This business risk had already materialized as of the end of the current consolidated fiscal year. The company intends to assess its impact by closely monitoring future conditions, but at present assumes that the impact may persist for a longer period at a level comparable to or greater than the impact of the financial crisis that occurred in September 2008 on the real estate industry.」
The company explicitly identified COVID-19 as an already materialized major new risk that could trigger multiple existing risks, including housing supply and demand, owned assets, materials, labor and logistics costs, overseas operations, natural disasters, laws and regulations, M&A, housing quality assurance and financing.