Impact of the Spread of COVID-19 on Production and Business Performance
First written in FY2020. 5 of 11 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024-Q1.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q1MitigatedAnnual report
「Meanwhile, in Japan, economic normalization accelerated following the reclassification of COVID-19 to Category 5, and the economy remained firm.」
It states that economic normalization accelerated in Japan following the reclassification of COVID-19 to Category 5, indicating that the economic and production impacts of the previous spread of infections are easing domestically. - FY2023-Q3MaterialisedAnnual report
「Losses due to COVID-19 - 333」
The Company recorded an extraordinary loss of ¥333 million for fixed costs during the period when production sites were shut down due to the lockdown implemented in Shanghai, China. The risk of the spread of infection actually materialized in the form of production stoppages and losses. - FY2023-Q2MaterialisedAnnual report
「At an overseas consolidated subsidiary of the Group, fixed costs incurred during the period when some production sites were shut down due to the lockdown implemented in Shanghai, China, in response to the spread of COVID-19 were recorded as an extraordinary loss.」
Production sites were actually shut down due to the Shanghai lockdown, and ¥327 million in losses due to COVID-19 was recorded as an extraordinary loss. - FY2023-Q1China's infection spread and activity restrictions slow market recoveryAnnual report
「Although China's new-energy vehicle market remained strong, market recovery slowed as production and sales remained at approximately the same levels as in the same quarter of the previous year due to activity restrictions implemented as the number of new infections increased and the impact of semiconductor supply shortages, among other factors.」
The filing states that the increase in new COVID-19 cases and activity restrictions slowed the recovery in China's production and sales. - FY2022Global spread subsides, but local impacts continueAnnual report
「Although the global spread of COVID-19 is subsiding, infections continue to spread and subside locally, and production at the Group's sites remains affected at present.」
The filing states that, although the global spread of infection is moving toward containment, local spread and containment continue, leaving a residual impact on production at the Group's sites. - FY2022-Q2WorsenedAnnual report
「Although production in Thailand is showing signs of recovering year on year, the outlook remains uncertain due to the continued risk of renewed infections caused by variants and delays in vaccination, among other factors.」
While recovery from the impact of COVID-19 continues at the Chinese sites, renewed infections caused by variants and delays in vaccination continue in Thailand, and the business remains affected through parts shortages and production cuts by major customers. - FY2022-Q1Chinese sites recover from the impact of COVID-19Annual report
「In Guangzhou, increased production of auto parts for major customers and higher sales of dies and equipment, etc., accompanying increased automobile demand as the effects of COVID-19 subsided, resulted in higher sales and profit. / In Wuhan, increased production of auto parts for major customers accompanying increased automobile demand as the effects of COVID-19 subsided resulted in higher sales and profit. / …」
In Guangzhou and Wuhan, where production stoppages, production cuts and infection-related losses occurred in the previous year, the Company reported higher demand and production and increased profit in the current quarter as the impact of COVID-19 subsided. - FY2021-Q3MaterialisedAnnual report
「At the Group's overseas consolidated subsidiaries, fixed costs incurred during periods when certain production facilities were shut down were recorded as extraordinary losses, based on requests from governments and other authorities in various countries to prevent the spread of COVID-19.」
The Company recorded an extraordinary loss of ¥329 million for fixed costs during the period when production sites were shut down due to COVID-19. The risk of the spread of infection continues to materialize in the form of production stoppages and losses. - FY2021-Q2MaterialisedAnnual report
「At the Group's overseas consolidated subsidiaries, fixed costs incurred during periods when certain production facilities were shut down were recorded as extraordinary losses, based on requests from governments and other authorities in various countries to prevent the spread of COVID-19.」
The Company recorded an extraordinary loss of ¥330 million for fixed costs during the period when production sites were shut down due to COVID-19. The risk of the spread of infection actually materialized in the form of production stoppages and losses. - FY2021-Q1MaterialisedAnnual report
「In Guangzhou, production stoppages and production cuts occurred from February to March 2020 due to the spread of COVID-19, resulting in lower sales. / In Wuhan, production stoppages and production cuts occurred from February to March 2020 due to the spread of COVID-19, resulting in lower sales. / Losses due to COVID-19 ¥334 million」
In Guangzhou and Wuhan, production stoppages and production cuts actually occurred from February to March 2020 due to the spread of COVID-19, and ¥334 million in losses related to the infection was recorded as an extraordinary loss. - FY2020First statedAnnual report
「The spread of COVID-19 is recognized as a significant risk requiring particular attention at present for the Group, and is also related to the risks described in (1) through (3) above. Although production at factories at most of the Group's sites has generally returned to normal operations at present, if the infection situation worsens further, fluctuations in customers' production, fluctuations in the supply of parts, and production stoppages caused by infections among the Company's employees are among the risks anticipated, and these may affect the Group's financial position, operating results and cash flows.」
The spread of COVID-19 was disclosed separately as a significant risk for the first time. Although the spread had already occurred, the Company explained that production at most sites had generally returned to normal operations.