Impact of the COVID-19 pandemic on business and financial performance
First written in FY2020. 4 of 14 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2024.
The Seima Holdings moved to the "Worse" side of this theme in 2020.
2 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「During the consolidated fiscal year under review, Japan's economy was expected to continue a gradual recovery, as corporate earnings showed signs of improvement following the normalization of social activity after COVID-19, although the recovery in personal consumption appeared to be stalling due to declining real wages.」
Social activity normalized after COVID-19, and the impact of the pandemic, centered on restrictions on economic activity, was stated to have diminished. - FY2024-Q1MitigatedAnnual report
「Although restrictions on movement related to COVID-19 were eased and economic activity normalized, with signs of a gradual recovery,」
The disclosure described the easing of restrictions on movement and progress toward the normalization of economic activity related to COVID-19. However, uncertainty caused by raw material prices and foreign exchange rates remains. - FY2023MitigatedAnnual report
「Although economic activity is showing signs of recovery as COVID-19 vaccination becomes more widespread, the timing of containment remains unforeseeable because of the spread of new variants and other factors.」
Although the impact of the pandemic continued, the emphasis of the disclosure shifted to the recovery trend in economic activity accompanying the spread of vaccination and responding to post-pandemic demand. - FY2023-Q3MaterialisedAnnual report
「Packaging materials posted lower revenue and lower profit because production could not keep pace after a cluster of COVID-19 infections occurred at a bag-manufacturing processor.」
A cluster of infections prevented the bag-manufacturing processor from keeping up with production, resulting in an actual impact on packaging materials in the form of lower revenue and lower profit. - FY2023-Q2RestatedAnnual report
「During the six-month consolidated cumulative period, signs of movement toward the normalization of social and economic activity emerged as measures against COVID-19 and restrictions on activities were eased. However, uncertainty persisted due to higher crude oil and raw material prices resulting from the situation in Ukraine and the rapid depreciation of the yen.」
While signs of normalization were seen as restrictions on movement were eased, the economic environment under COVID-19 and the uncertain outlook were stated to be continuing. - FY2023-Q1RestatedAnnual report
「As the impact of COVID-19 continued for an extended period, vaccinations progressed and some signs of movement toward the normalization of social and economic activity emerged. However, the outlook remained uncertain due to high crude oil and raw material prices resulting from the prolonged situation in Russia and Ukraine, as well as the rapid depreciation of the yen.」
While the impact of the pandemic continued over an extended period, signs of normalization were also seen as vaccination progressed. The continued impact of the pandemic on the business environment was reconfirmed. - FY2022-Q3RestatedAnnual report
「During the nine-month consolidated cumulative period, the severe conditions caused by COVID-19 were gradually easing as vaccinations expanded. However, the outlook remained uncertain as infections with new variants spread.」
Uncertainty in the business environment caused by the pandemic continued. By business, the Group aimed to restore performance while securing supplies, addressing operational and shipping requirements, and maintaining and strengthening its production structure. - FY2022-Q2WorsenedAnnual report
「In the Mats Business, production did not proceed as planned due to production stoppages and other disruptions caused by the spread of infections in Thailand, the production base. The Company also faced container shortages when shipping overseas.」
The impact of COVID-19 continued and became more pronounced in the form of production delays caused by the suspension of operations at the Thailand site and other factors, and restrictions on overseas shipments due to container shortages. - FY2022-Q1RestatedAnnual report
「The food and mat businesses continued working to strengthen their production bases, but sales remained sluggish.」
During the pandemic, the Food business experienced a pullback in demand for household products and sluggish commercial demand, while the Mat business experienced weak overseas sales. The impact of the pandemic on the businesses has continued. - FY2021WorsenedAnnual report
「Since the end of the previous consolidated fiscal year, the spread of COVID-19 has had a major impact on socioeconomic activity worldwide. In the Industrial Materials business, if a lockdown or similar measure occurs in India, the source of jute products, local production and transportation may be delayed, which could affect business performance. Packaging materials may also be affected if economic activity contracts. In the Mat business, the suspension of automobile manufacturers' production and transportation delays caused by lockdowns worldwide may affect business performance. In the Food business, orders for commercial use have fallen sharply due to social restraints, but retort products have remained firm. If an infection occurs at a production plant, it may be necessary to suspend plant operations for a certain period because it would be difficult to operate on a shift basis.」
The risk of the pandemic affecting each business continued to be disclosed in the form of delays in the production and transportation of jute products, automobile manufacturers suspending production and transportation delays, lower commercial food orders, and the possibility of plant closures. - FY2021-Q3WorsenedAnnual report
「Against this economic backdrop, the Group's businesses followed different courses during the COVID-19 pandemic. The Food business took thorough infection-prevention measures in its production activities and worked to ensure stable supplies. In the Mat business, we had been promoting rationalization and rebuilding overseas production sites since the previous fiscal year, but automobile manufacturers' suspension of operations and production cuts caused sales volumes to decline. In the Industrial Materials business, hemp bags for grains could not be supplied when needed because of the lockdown in India, the source country for imports.」
The impact of COVID-19 continued across the businesses in the form of infection-prevention measures in the Food business, lower mat sales volumes due to automobile manufacturers suspending operations and reducing production, and the inability to supply industrial materials because of India's lockdown. - FY2021-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, Japan's economy deteriorated rapidly as the global spread of COVID-19 severely restricted social and economic activity. Although signs of recovery emerged after the state of emergency was lifted, the economy remained in an extremely severe condition amid the resurgence of infections.」
The difficult economic environment continued due to the resurgence of COVID-19. In business operations, the impact became apparent in automobile manufacturers suspending operations, supply delays caused by India's lockdown, and the failure of commercial food demand to recover. - FY2021-Q1MaterialisedAnnual report
「As the spread of COVID-19 intensified, economic and social activity was restricted, including through the issuance of a state of emergency, and the economy deteriorated sharply.」
The impact of COVID-19 extended to each business in the form of restrictions on economic activity, automobile manufacturers suspending operations, lower commercial food demand, and delays in imports from India. - FY2020First statedAnnual report
「Since the end of the fiscal year under review, the spread of COVID-19 has had a major impact on socioeconomic activity worldwide. In the Industrial Materials business, imports of products have been delayed by the lockdown in India, the source of jute products. If the products do not arrive in time to meet delivery deadlines, this may affect business performance. In the Mat business, it is currently difficult to quantify the earnings forecast because the outlook for automobile industry production and sales has become uncertain due to lockdowns worldwide, but the situation is expected to have a major impact on performance for the 93rd fiscal year (1 April 2020 to 31 March 2021).」
For COVID-19, delays in imports from India, the increasingly uncertain outlook for automobile industry production and sales, and the possibility of a major impact on performance in the following fiscal year were disclosed as independent risks for the first time.