Risk of reduced sales activities and operations due to COVID-19
First written in FY2020-Q3. 5 of 10 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023ReframedAnnual report
「The occurrence or spread of an infectious disease could disrupt the Group's business activities, including through a possible decline in available labor caused by deterioration in the health of Group employees and temporary suspension of production and sales activities.」
The disclosure has been reorganized from a focus on COVID-19 to a general infectious disease risk framework alongside natural disasters and accidents, including internal information sharing and preventive measures. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, there were no material changes to the assumptions concerning the impact of COVID-19 on the Group described in the additional information in the securities report for the previous consolidated fiscal year.」
The company continues to recognize that there were no material changes to the previous fiscal year's assumptions concerning the impact of COVID-19. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no material changes to the assumptions concerning the impact of COVID-19 on the Group described in the additional information in the securities report for the previous consolidated fiscal year.」
The company continues to recognize that there were no material changes to the previous fiscal year's assumptions concerning the impact of COVID-19. - FY2022-Q3RestatedAnnual report
「During the first three quarters of the current consolidated fiscal year, there were no material changes to the assumptions concerning the impact of COVID-19 on the Group described in the additional information in the securities report for the previous consolidated fiscal year.」
The company continues to recognize that there were no material changes to the previous fiscal year's assumptions concerning the impact of COVID-19. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no material changes to the assumptions concerning the impact of COVID-19 on the Group described in the additional information in the securities report for the previous consolidated fiscal year.」
The company states that there were no material changes to the previous fiscal year's assumptions concerning the impact of COVID-19, and continues to recognize the risk posed by infectious diseases. - FY2021-Q3RestatedAnnual report
「In the office furniture market, demand for office relocations and renovations weakened because of the spread of working from home, restrained investment and cost-cutting resulting from deteriorating corporate performance. However, new demand increased for measures addressing COVID-19, including the development of IT environments as companies promoted telework and initiatives such as the GIGA School Program.」
The company continues to describe weakness in existing demand resulting from working from home and restraint on investment and expense reductions associated with COVID-19, along with an increase in demand related to telework and GIGA School. - FY2021-Q2MaterialisedAnnual report
「In the office furniture market, demand for office relocations and renovations weakened because of the spread of working from home, restrained investment and cost-cutting resulting from deteriorating corporate performance. However, new demand increased for measures addressing COVID-19, including the development of IT environments as companies promoted telework and initiatives such as the GIGA School Program.」
As an impact of COVID-19, existing demand continued to weaken due to the spread of working from home and companies' restraint on investment and expense reductions, while new demand related to telework and GIGA School increased. - FY2021-Q1MaterialisedAnnual report
「In the office furniture market, demand for office furniture weakened as the spread of working from home, restrained corporate investment following the deterioration in corporate performance, and cost-cutting measures took effect.」
In connection with COVID-19, the company specifically states that the spread of working from home and companies' restraint on investment and expense reductions affected demand for office furniture. It does not state that sales activities at sales offices were reduced or that manufacturing sites were shut down. - FY2020WorsenedAnnual report
「The timing of the end of the COVID-19 pandemic cannot be foreseen. If the situation continues for an extended period or further spread of the infection or a pandemic develops, the Group's business activities may be affected by a deterioration in domestic economic conditions, weaker consumer sentiment due to calls to refrain from going outdoors, soaring raw material prices, or difficulty securing raw materials.」
COVID-19 has been expanded into a standalone risk item, with specific references to an economic downturn, weaker consumer sentiment, soaring raw material prices and difficulty securing them, suspension of sales activities, and reduced or suspended operations. The company refrained from visits and prohibited business travel to prevent infection, and weakness in demand for office furniture had also materialized. - FY2020-Q3First statedAnnual report
「Although the state of emergency concerning COVID-19 was lifted nationwide on 25 May 2020, if the infection situation or its impact on the economic environment changes, sales activities at sales offices and operations at manufacturing sites may be reduced, potentially adversely affecting the operating results and financial condition of the Group.」
The company added as a new risk the possibility that changes in the COVID-19 infection situation or its impact on the economic environment could lead to reduced sales activities and manufacturing operations, adversely affecting operating results and financial condition. It explained that the impact on the consolidated accounting period for the third quarter was minor.