Recession Risks from a Consumption Tax Increase and Natural Disasters
First written in FY2020-Q1. 6 of 9 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2024.
Media Kobo moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 6 of 11 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「In Japan, COVID-19 was reclassified as a Class 5 infectious disease in May 2023, and daily life had returned to normal as of the date of submission of this document. However, the possibility of similar events occurring in the future, whether involving COVID-19 or not, cannot be ruled out.」
The report states that the risk of economic stagnation from COVID-19 has declined from previous levels following its reclassification as a Class 5 infectious disease and the return to normal daily life, while similar infectious disease risks remain. - FY2022-Q2WorsenedAnnual report
「The economy had temporarily shifted to a gradual recovery trend as COVID-19 appeared to subside, but business sentiment fell sharply against the backdrop of the emergence of the Omicron variant and a rapid increase in infections.」
The report describes a deterioration in the economic environment, from a temporary recovery as the outbreak subsided to a sharp decline in business sentiment following the emergence of the Omicron variant and rapid spread of infections. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the number of domestic infections declined significantly and economic activity improved as a result of measures to prevent the spread of COVID-19, including vaccinations. However, the situation remained difficult overseas, with the emergence of variants and renewed spread of infections, and the global economy is expected to remain uncertain going forward.」
While infections declined and economic activity improved domestically, uncertainty about the outlook for the global economy continued due to variants and renewed spread of infections overseas. - FY2021WorsenedAnnual report
「Against the backdrop of the prolonged spread of COVID-19, employment and the income environment became difficult.」
The prolonged COVID-19 outbreak continued to result in deterioration in employment and the income environment and stagnation in economic activity. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy was significantly affected by declining personal consumption and increasingly stagnant economic activity due to the spread and prolonged duration of COVID-19.」
The prolonged COVID-19 outbreak continued to result in declining personal consumption, stagnant economic activity and a significant impact on corporate earnings. - FY2020WorsenedAnnual report
「As of the date of submission of this report, the World Health Organization (WHO) had declared COVID-19 a pandemic (global outbreak).」
The global spread of COVID-19 was explicitly identified as a separate pandemic risk, and the report disclosed the potential for prolonged economic stagnation and an impact on business performance. - FY2020-Q3WorsenedAnnual report
「As of the date of submission of this report, the World Health Organization (WHO) had declared COVID-19 a pandemic (global outbreak).」
The COVID-19 pandemic was explicitly identified as a separate business and other risk, and the report stated that prolonged economic stagnation and deterioration in economic conditions could affect business performance. - FY2020-Q2WorsenedAnnual report
「The decline in consumption following the consumption tax rate increase coincided with the impact on the real economy of the global spread of COVID-19, broadening concerns about an economic downturn.」
In addition to the previous concerns about an economic downturn caused by consumption tax increases and natural disasters, the impact of the global spread of COVID-19 on the real economy was described, indicating increased economic downturn risk. - FY2020-Q1First statedAnnual report
「Concern about entering an economic downturn has been mounting due to the risk of weaker consumption following the consumption tax increase and frequent natural disasters, and the operating environment remained difficult.」
The decline in consumption following the consumption tax increase and frequent natural disasters were recorded for the first time as a separate theme and factors warranting caution regarding a domestic economic downturn.