Impact of COVID-19 on Business Activities and Revenue Generation
First written in FY2020-Q2. 3 of 10 entries say "Worsened", first in FY2020. Latest entry: FY2023.
Intertrade moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 103 of 145 companies on the "Worse" side.
15 other companies' latest entry also says "Reframed".
- FY2023ReframedAnnual report
「As seen in the spread across Japan of COVID-19, which emerged domestically in early spring 2020, if a specific communicable disease or infection spreads throughout the country and significantly restricts socioeconomic activity, or if members of the Group or its business partners and other related parties become infected, the Group's business performance may be affected.」
The company moved from its previous framework, in which infectious disease risks were described together with natural disasters, to a standalone item covering the occurrence and spread of epidemics and infectious diseases. - FY2023-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period, there were no new business or other risks and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company stated that there had been no new risks or material changes regarding the impact of COVID-19 on business activities and the securing of earnings. - FY2022ReframedAnnual report
「If our business sites suffer extensive damage due to an earthquake, flood, tsunami or other natural disaster, or fire, or if a pandemic occurs as a result of the spread of COVID-19 and disrupts business continuity, this may affect our results.」
The risk associated with COVID-19 was described within the framework of large-scale disasters, including natural disasters and fires, and business continuity risks. - FY2022-Q3RestatedAnnual report
「During the third quarter of the consolidated cumulative period, there were no new business or other risks and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company stated that there had been no new risks or material changes regarding the impact of COVID-19 on business activities and the securing of earnings. - FY2021WorsenedAnnual report
「The domestic economy during the current consolidated fiscal year remained in a difficult situation due to the spread of COVID-19, and personal consumption continued to decline as people refrained from going out following repeated declarations of a state of emergency.」
The continuing impact of COVID-19 has appeared in results as weaker personal consumption, lower revenue in the healthcare business and a deterioration in the order environment for the business solutions business. - FY2021-Q3WorsenedAnnual report
「In the assumptions, including the expected future spread of COVID-19 and the timing of its subsidence, described in the additional information to the securities report for the previous consolidated fiscal year, we had assumed that conditions would generally normalize during the current consolidated fiscal year. In light of the current infection situation, we changed this assumption to one that the impact of the spread of COVID-19 would gradually normalize by the end of the next consolidated fiscal year, and made accounting estimates, including impairment of fixed assets.」
The assumption regarding when the impact of COVID-19 would normalize was changed from normalization during the current consolidated fiscal year to gradual normalization by the end of the next consolidated fiscal year. The company stated that there was no material impact, while noting the considerable uncertainty regarding the timing of its subsidence and other matters. - FY2021-Q2RestatedAnnual report
「There have been no material changes to the assumptions, including those concerning the future spread and timing of containment of COVID-19, described in the section “Accounting Estimates Concerning the Impact of the Spread of COVID-19” under “Additional Information” in the securities report for the previous consolidated fiscal year.」
The company stated that there had been no material changes to the assumptions used in accounting estimates regarding the spread of COVID-19 and the timing of its subsidence. - FY2020WorsenedAnnual report
「Although our group is working to prevent COVID-19 infections, if an employee of our group is found to be infected with COVID-19, resulting in the temporary closure of a business site or the suspension of some operations, this may affect our group's business operations.」
In addition to the previously identified potential impact on business activities and the securing of earnings, specific impact channels, including employee infections, temporary closure of business sites, partial suspension of operations and lower sales, were identified as risks. - FY2020-Q3Additional accounting estimate assumptionsAnnual report
「Regarding the impact of COVID-19, we have made accounting estimates, including impairment of fixed assets, on the assumption that the effects of the spread of the infection will gradually subside from the first half of 2021. However, we have determined that it will not have a material impact at present. Nevertheless, because there is considerable uncertainty regarding the spread of COVID-19 and the timing of its subsidence, actual results may differ from these estimates.」
The company used the assumption that COVID-19 would gradually subside from the first half of 2021 in its accounting estimates and determined that there was no material impact at present, while explaining that there was considerable uncertainty regarding the timing of its subsidence and other matters. - FY2020-Q2First statedAnnual report
「Although COVID-19 infections are spreading in Japan, depending on how the situation develops, the pandemic may affect our business activities and ability to generate earnings.」
The domestic spread of COVID-19 was identified for the first time as a new risk that could affect business activities and the securing of earnings.