Impact of COVID-19 on Business Operations and Earnings
First written in FY2020-Q2. 6 of 12 entries say "Restated". Latest entry: FY2024-Q1.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q1DroppedAnnual reportThe first-quarter report does not describe direct risks to business activities or results from the spread of COVID-19, or measures to address the infection.
- FY2023ReframedAnnual report
「In Japan, COVID-19 was reclassified as a Class 5 infectious disease under the Infectious Diseases Act from 8 May, and social and economic activity is accelerating toward a post-COVID “new normal.” The company has been working toward the “new normal” for some time and has taken steps to steadily capture the recovery in social and economic activity and increased corporate capital investment as business opportunities.」
The description has been reorganized from one centered on the risk of an impact on business from the spread of infection to one that views the recovery in social and economic activity following the transition to a Class 5 infectious disease as a business opportunity. - FY2023-Q3ReframedAnnual report
「In Japan, COVID-19 was reclassified as a Class 5 infectious disease under the Infectious Diseases Act from 8 May, and social and economic activity is accelerating toward a post-COVID “new normal.” The company has been working toward the “new normal” for some time and is taking steps to steadily capture the recovery in social and economic activity and increased corporate capital investment as business opportunities.」
The company has shifted from recognizing risks centered on uncertainty caused by the spread of COVID-19 to viewing the transition to a Class 5 infectious disease and the recovery in social and economic activity as post-COVID business opportunities. - FY2023-Q2ReframedAnnual report
「In Japan, social and economic activity is showing signs of accelerating toward a post-COVID “new normal” as COVID-19 is scheduled to be reclassified as a Class 5 infectious disease under the Infectious Diseases Act from 8 May. The company has been working toward the “new normal” for some time and is taking steps to steadily capture the recovery in social and economic activity and increased corporate capital investment as business opportunities.」
Although COVID-19 infections continue, the company has shifted its explanation to viewing the post-COVID new normal and recovery in social and economic activity following the transition to a Class 5 infectious disease on 8 May as business opportunities, rather than solely as risks. - FY2023-Q1RestatedAnnual report
「Although Japan is facing the eighth wave of COVID-19 infections, as noted above, some domestic companies are increasing investment amid the shift toward a “new normal” in the with-COVID and post-COVID era, creating business opportunities for the group. Accordingly, the eighth wave of COVID-19 infections had no significant impact on the group's results for the first-quarter cumulative consolidated period.」
The company describes the continuation of the eighth wave of COVID-19 infections but explains that it had no significant impact on consolidated results for the first quarter. - FY2022-Q2RestatedAnnual report
「However, the impact of the spread of COVID-19 remains highly uncertain, and depending on how the situation develops, it may affect the Group's financial condition and operating performance.」
The company continues to describe the uncertainty surrounding the impact of COVID-19 and the possibility of an impact on its financial position and operating results. - FY2022-Q1RestatedAnnual report
「However, the impact of the spread of COVID-19 remains highly uncertain, and depending on how the situation develops, it may affect the Group's financial condition and operating performance.」
The company continues to describe the uncertainty surrounding the impact of COVID-19 and the possibility of an impact on its financial position and operating results. - FY2021-Q2RestatedAnnual report
「However, the impact of the spread of COVID-19 remains highly uncertain, and depending on how the situation develops, it may affect the Group's financial condition and operating performance.」
The company continues to describe the uncertainty surrounding the impact of COVID-19 and the possibility of an impact on its financial position and operating results. It states that there were no significant changes from the previous fiscal year in its accounting estimates. - FY2021-Q1RestatedAnnual report
「However, the impact of the spread of COVID-19 remains highly uncertain, and depending on how the situation develops, it may affect the Group's financial condition and operating performance.」
The company continues to describe the uncertainty surrounding the impact of COVID-19 and the possibility of an impact on its financial position and operating results. It explains that there was no significant impact on results for the first quarter. - FY2020RestatedAnnual report
「The group was affected by interruptions and specification changes in work in progress, as well as cancellations and postponements of projects under negotiation, but the impact on consolidated results for the fiscal year was limited.」
The company states that interruptions and specification changes in work, as well as cancellations and postponements of projects, actually occurred as a result of COVID-19, while the impact on full-year consolidated results was limited. - FY2020-Q3MaterialisedAnnual report
「However, if the period until COVID-19 is brought under control is prolonged, and depending on the resulting impact on customers' businesses, the group's business activities and results may be affected. Under these conditions, the group was affected by interruptions and specification changes in work in progress, as well as cancellations, changes and postponements of new and ongoing projects.」
The company continues to describe the risk of an impact on results from a prolonged period until COVID-19 is brought under control, and states that interruptions and specification changes in work in progress, as well as cancellations, changes and postponements of new and ongoing projects, actually occurred. - FY2020-Q2First statedAnnual report
「The global spread of COVID-19 has had a significant impact on the real economy in Japan and overseas. The group established a crisis response headquarters in February and shifted from March to an operating structure based in principle on working from home, except for work requiring attendance, such as maintaining social infrastructure. The group is operating on the policy of continuing its business under an environment based in principle on working from home, while taking all possible measures to prevent infection, prioritizing employee safety and its social responsibilities. However, if the period until COVID-19 is brought under control is prolonged, and depending on the resulting impact on customers' businesses, the group's business activities and results may be affected. [Risks affecting the group's results] 1) Decrease in sales and profit due to interruption or specification changes in work in progress The scope of work has been reduced or work has been postponed for multiple projects. 2) Decrease in orders, sales and profit due to cancellation or postponement of projects under negotiation Projects under negotiation from April onward have been affected by postponements or cancellations of orders.」
The global spread of COVID-19 is identified as a new business and other risk, with the potential for prolonged containment and its impact on customers' businesses to affect business activities and results. Although reductions and postponements of work in progress and postponements and cancellations of orders for projects under negotiation have already occurred, the company states that there was no significant impact on cumulative results for the second quarter.