Impact of the Spread of COVID-19 on the Economy and Economic Activity
First written in FY2020. 6 of 15 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2024-Q3.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q3MitigatedAnnual report
「During the cumulative third quarter, Japan’s economy showed signs of recovery toward the normalization of economic activity, including travel, dining and an increase in visitors from overseas, following the easing of restrictions on activities due to COVID-19. However, the difficult environment continued, with soaring raw material prices, rising domestic prices and a continuing trend toward weaker demand for durable consumer goods.」
The company explains that constraints on economic activity caused by infectious diseases are easing as restrictions on activities are relaxed and demand for travel, dining and inbound tourism increases. However, a difficult environment due to higher prices and other factors continues. - FY2024-Q2MitigatedAnnual report
「In addition, the easing of restrictions on activities related to COVID-19 led to a rapid recovery in travel, dining and inbound tourism, while domestic demand for durable consumer goods began to decline sharply around May.」
The company explained that constraints on economic activity caused by the infection were easing due to relaxed activity restrictions and the recovery in travel, dining and inbound demand. It also described a decline in domestic demand for durable consumer goods. - FY2024-Q1MitigatedAnnual report
「Meanwhile, economic activity showed signs of gradually normalizing as travel, leisure and inbound demand recovered following the easing of restrictions on activities related to COVID-19.」
The company indicated that the impact of COVID-19 on economic activity was easing as restrictions on movement were relaxed and demand recovered. - FY2023MitigatedAnnual report
「Although economic activity has repeatedly been restricted and relaxed due to the prolonged impact of COVID-19, it is gradually returning to normal levels seen before the spread of COVID-19.」
Regarding the impact of infectious diseases on economic activity, the company states that conditions are gradually returning to normal, before the spread of the disease, after repeated restrictions and easing measures. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter, Japan's economy experienced repeated restrictions and easing of economic activity due to the prolonged impact of COVID-19.」
It explains that the impact of COVID-19 has been prolonged, with economic activity continuing to be restricted and relaxed repeatedly. Compared with the previous quarter’s description of a recovery in consumer spending, it again indicates that the impact of the pandemic is continuing. - FY2023-Q1MitigatedAnnual report
「During the cumulative first-quarter period, the Japanese economy saw signs of a recovery in consumption as the easing of restrictions on movements of people began to restore foot traffic, following a decline in new COVID-19 cases and the lifting of priority preventive measures.」
The company explains that the decline in new infections and the lifting of priority preventive measures against the spread of the disease brought back the flow of people and supported a recovery in consumption. The impact of the infectious disease on economic activity through the previous fiscal year has therefore eased. - FY2022WorsenedAnnual report
「Although the contract manufacturing plants in China, a major bicycle-producing country, are operating as usual, concerns remain over logistics disruptions caused by the global spread of variant strains and inflation caused by soaring prices for raw materials and material inputs. These factors may affect the Company’s financial position and operating results.」
Although the Chinese factories continued normal operations, the focus of risk expanded from the impact on domestic economic conditions and activity to global logistics disruptions caused by variant strains and soaring prices of materials and raw materials. - FY2022-Q3MitigatedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan’s economy showed signs of a recovery in consumer spending as COVID-19 vaccinations progressed smoothly and the number of new infections remained low. The state of emergency was lifted at the end of September, and restrictions on activities were eased further in all prefectures in November.」
The company stated that the impact of the infection on economic activity had eased from the previous quarter due to progress in vaccinations, a low number of infections, the lifting of the state of emergency and the easing of activity restrictions. However, it did not state that the impact of the infection had disappeared. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan’s economy was forced to restrict economic activity to a certain extent as repeated declarations of a state of emergency were issued in response to the impact of COVID-19. However, because the measures targeted specific areas and industries, the downturn in economic activity was more limited than previously. Meanwhile, although vaccination was progressing, the number of new infections rose sharply as highly transmissible variants spread, and conditions remained uncertain as to when the pandemic would end.」
While restrictions on economic activity due to the state of emergency continued, the decline was described as limited. The company continues to explain the rapid increase in infections caused by variants and the uncertain outlook for the pandemic's end. - FY2022-Q1RestatedAnnual report
「During the first quarter, Japan’s economy remained under difficult conditions, as economic activity was restricted by renewed states of emergency, mainly in urban areas, due to COVID-19, which limited operations at restaurants and large commercial facilities, while restrictions on overseas travel prolonged the downturn in inbound demand.」
The company continues to explain that economic activity remains in a difficult situation due to the reissuance of the state of emergency, restrictions on business operations and the prolonged weakness in inbound demand. - FY2021RestatedAnnual report
「As of the end of April 2021, commissioned bicycle production plants in China, a major bicycle-producing country, were operating normally. However, if the spread of infection in Japan were to continue for an extended period and the pandemic situation were to escalate, a nationwide economic downturn and stagnation in economic activity could affect the company’s financial position and operating performance.」
While its contract-manufacturing factories in China were operating normally, the company continued to disclose the risk of worsening economic conditions and stagnation of economic activity due to the prolonged domestic spread of the infection. - FY2021-Q3RestatedAnnual report
「With respect to the impact of COVID-19 on the business, we will continue to closely monitor developments.」
The company states that it will continue to closely monitor the business impact of COVID-19. - FY2021-Q2RestatedAnnual report
「With respect to the impact of COVID-19 on the business, we will continue to closely monitor developments.」
While stating that there are no new business risks or significant changes, the company indicates that it will continue to closely monitor the business impact of COVID-19. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first-quarter period, the Japanese economy was subject to severe restrictions on economic activity due to the impact of COVID-19, resulting in an extremely uncertain outlook. Under these circumstances, we considered maintaining bicycle sales and repair services to be one way of contributing to society and continued normal operations wherever possible. However, after a state of emergency was declared during April, normally our busiest month, we voluntarily closed stores in the affected regions on weekends and temporarily closed some in-store and tenant locations in order to give consideration to customers and reduce the physical and mental burden on employees. As a result, net sales for the cumulative first-quarter period fell below the previous year.」
COVID-19 substantially constrained economic activity, resulting in voluntary weekend closures of stores in affected areas, temporary closures of some stores, and actual declines in revenue below the previous year’s level. - FY2020First statedAnnual report
「As of the filing date, the contract manufacturing plants in China, the main production country for bicycles, had returned to normal operations. However, if the spread of infection in Japan were prolonged and conditions developed into a pandemic, the resulting deterioration of economic conditions and stagnation of economic activity throughout Japan could affect the company's financial condition and business performance.」
Regarding the novel coronavirus disease identified in China at the end of 2019, the company disclosed the prolonged domestic spread of the infection and the resulting deterioration in economic conditions and stagnation of economic activity as new risks, while also describing operating conditions at its factories in China.