Demand, Supply and Performance Risks from COVID-19
First written in FY2020. 5 of 12 entries say "Worsened", first in FY2021-Q2. Latest entry: 2026-06-05.
Ki-Star Real Estate moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 5 of 16 companies on the "Worse" side.
19 other companies' latest entry also says "Restated".
- 2026-06-05RestatedGeneral Meetings of Shareholders
「In light of experience with supply-chain disruptions during the COVID-19 pandemic and the wood shock, we have diversified procurement channels.」
The company cites past supply disruptions, including those caused by infectious diseases, as the basis for measures to address procurement risks. - FY2024-Q2MitigatedAnnual report
「During the current second-quarter consolidated cumulative period, Japan's economy has been recovering gradually as economic activity normalizes following the reclassification of COVID-19 as a Class 5 disease. However, uncertainty about the outlook has persisted due to factors including soaring raw material prices and energy costs, continuing yen depreciation and a slowdown in overseas economies.」
The company describes the normalization of economic activity accompanying the reclassification of COVID-19 as a Class 5 disease, indicating that the direct risk of economic stagnation from the pandemic has relatively weakened. Other sources of uncertainty, however, continue. - FY2023MitigatedAnnual report
「The impact of COVID-19 was minor and limited as of the end of May 2023.」
Although uncertainty remains over when COVID-19 will end and its impact on the global economy, the company states that its impact on business performance as of the filing date was minor and limited. - FY2023-Q3RestatedAnnual report
「The global economy has remained sluggish due to the impact of COVID-19. The timing of the end of the pandemic remains uncertain, making it difficult to predict the impact on the Group's business performance. However, as of the filing date, no event had occurred that would affect accounting estimates. Accordingly, the accounting estimates as of the end of the current third quarter of the consolidated accounting period do not take the impact of COVID-19 into account.」
The company continues to describe the sluggish global economy caused by COVID-19, uncertainty over when the pandemic will end, and the difficulty of predicting its impact on business performance. At the same time, it states that no event had occurred that would affect accounting estimates. - FY2023-Q1WorsenedAnnual report
「The global economy has remained sluggish due to the impact of COVID-19. The timing of the end of the pandemic remains uncertain, making it difficult to predict the impact on the Group's business performance. However, as of the filing date, no event had occurred that would affect accounting estimates. Accordingly, the accounting estimates as of the end of the current first quarter of the consolidated accounting period do not take the impact of COVID-19 into account.」
Unlike the previous fiscal year-end, when the company stated that the impact on business performance was minor and limited, this time it describes the sluggish global economy and the difficulty of predicting the impact. However, it states that no event had occurred that would affect accounting estimates. - FY2022MitigatedAnnual report
「The impact of COVID-19 was minor and limited as of the end of May 2022.」
The company states that infection risks and their economic impact continued, but that the impact on business performance as of the filing date was minor and limited. - FY2022-Q3WorsenedAnnual report
「The global spread of COVID-19 has raised concerns about a deterioration in the global economy. The timing of the end of the pandemic remains uncertain, making it difficult to predict the impact on the Group's business performance. However, as of the filing date, no event had occurred that would affect accounting estimates.」
The company states that the timing of the end of the pandemic remained uncertain and that it was difficult to predict the impact on business performance. At the same time, it states that, as of the filing date, no event had occurred that would affect accounting estimates. - FY2022-Q2WorsenedAnnual report
「During the current second-quarter consolidated cumulative period, the impact of COVID-19 on economic activity continued, including economic losses from holding the Tokyo Olympic and Paralympic Games without spectators, despite the significant economic benefits that had been expected, and the declaration of a state of emergency and priority preventive measures following explosive growth in infections.」
The company indicated that the impact on economic activity of the spread of infection and declarations of a state of emergency was prolonged, and that COVID-19-related risks were continuing and becoming prolonged. - FY2021-Q3WorsenedAnnual report
「The renewed spread of COVID-19 was also occurring overseas. Economic recovery was delayed as activity restrictions were tightened again in many parts of Europe, and the outlook for a global normalization of economic conditions remained uncertain.」
In addition to Japan's second declaration of a state of emergency, the company cited the renewed spread of infections and tighter activity restrictions in Europe, stating that the global economy remained unlikely to normalize in the foreseeable future. - FY2021-Q2WorsenedAnnual report
「Economic policies such as the Go To campaign were implemented to restore domestic consumption, which had declined due to COVID-19. Although signs of an economic recovery were visible, uncertainty about the outlook caused by the pandemic persisted, including substantial losses at large companies and a worsening employment environment.」
The company states that deterioration in domestic consumption and the employment environment, together with the renewed spread of infections, continued to create uncertainty about the outlook. - FY2021-Q1MaterialisedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy deteriorated sharply as COVID-19 caused domestic consumption, particularly in the food service and travel industries, to slump, the employment environment to worsen, and the Tokyo Olympic and Paralympic Games to be postponed. Although the declaration of a state of emergency issued to prevent the spread of infection was lifted in May 2020 and an economic recovery was expected, infections were again increasing, and uncertainty about the outlook intensified as it remained unclear when the COVID-19 pandemic would end.」
The company states that COVID-19 caused domestic consumption and the employment environment to deteriorate, while the renewed spread of infections and uncertainty over when the pandemic would end persisted. It also notes cautious attitudes toward home purchases and discount sales, alongside growing demand for detached houses. - FY2020First statedAnnual report
「If the Group's assets or offices suffer serious damage from natural disasters such as earthquakes and typhoons or accidents such as fires, or if a global pandemic causes delays in construction schedules due to delayed supplies of materials, sluggish personal consumption or a decline in customer traffic, this could lead to decreases in the Group's revenue and profit at each stage.」
The company identified a pandemic as a standalone risk for the first time. Regarding COVID-19, it states that customer traffic declined and deliveries of housing equipment and construction schedules were delayed, while the impact as of the end of May 2020 was minor and limited.