Constraints on Customer IT Investment Due to the Spread of COVID-19
First written in FY2020-Q3. 2 of 9 entries say "Materialised", first in FY2020. Latest entry: FY2023-Q3.
The whole theme swung hardest in 2020: 6 of 13 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「There has been no material change in the assumptions concerning the impact of COVID-19 described under Additional Information (Accounting Estimates Related to the Spread of COVID-19) in the securities report for the previous fiscal year.」
Stated that there had been no material change from the previous consolidated fiscal year in the accounting assumptions concerning the impact of COVID-19. - FY2022MitigatedAnnual report
「In response to the spread of COVID-19, the Group has followed the policies set by national and local governments and taken measures including restricting business activities involving travel, using online formats for internal meetings, events and seminars, and combining these measures with remote work. We recognise that these measures have sufficiently reduced the impact on the business at present.」
Stated that the current impact of the pandemic on the business had been sufficiently reduced through the use of online formats and remote work. Meanwhile, the risk of postponed IT investment if the pandemic is prolonged remains. - FY2022-Q1RestatedAnnual report
「There has been no material change in the assumptions concerning the impact of COVID-19 described under Additional Information (Accounting Estimates Related to COVID-19) in the securities report for the previous fiscal year.」
Stated that there had been no material change from the previous fiscal year in the accounting assumptions concerning the impact of COVID-19. - FY2021Risks and digitalisation opportunities both notedAnnual report
「However, the novel coronavirus is constantly mutating, and if the impact of the pandemic becomes severe and prolonged, domestic companies may postpone IT investment further and the Group's operating performance may deteriorate more than expected. In this event, we have prepared scenarios to limit the deterioration in operating performance by curbing certain expenses, including outsourcing costs. In addition, we view the spread of COVID-19 as a factor that will promote corporate digitalisation and increase the importance of management information over the medium to long term, thereby expanding the market in which the Group operates.」
Described both the risk of further IT investment delays if the pandemic is prolonged and scenarios for curbing expenses, while viewing digitalisation and the growing importance of management information as medium- to long-term market expansion factors. - FY2021-Q3Returned to revenue growth despite the impactAnnual report
「As a result, consolidated revenue was ¥11,909 million, up 1.1% year on year, turning slightly higher.」
Despite the lingering effects of slower IT investment due to COVID-19 and the state of emergency declaration, consolidated revenue returned to year-on-year growth, driven by growth in the Business Intelligence and outsourcing businesses. - FY2021-Q2Demand recovering despite the impactAnnual report
「The environment surrounding our Group initially developed within the range of this outlook. At the same time, various social changes have highlighted the need for data-based management and decision-making, and demand for our Group’s products and services is recovering while evolving toward more sophisticated requirements.」
Stated that although the impact of postponed and reduced IT investment due to COVID-19 continues, demand for products and services is recovering, supported by the need for data-driven management and decision-making. - FY2021-Q1MaterialisedAnnual report
「The spread of COVID-19 and the state of emergency declaration affected results, and revenue decreased to ¥1,382 million, down 3.2% year on year.」
The spread of COVID-19 and the state of emergency declaration led to a decline in revenue from the Business Intelligence segment, while operating profit also fell 36.3% year on year. - FY2020MaterialisedAnnual report
「The impact of the spread of COVID-19 on recurring services such as maintenance revenue and outsourcing revenue has been limited, but cases have begun to emerge in which customers postpone decisions on orders from new customers and for new services.」
Stated that COVID-19 had actually caused decisions on new customers and new service orders to be postponed, and had affected the freezing of IT investment and orders in certain industries. In contrast, the impact on recurring services was described as limited. - FY2020-Q3First statedAnnual report
「Although the spread of COVID-19 has not had a significant impact on the Group's operating performance or financial position at this time, if the performance of Japan's large companies, which are the Group's main customers, deteriorates, their IT investment may be curtailed, potentially having a material impact on the Company's operating performance and financial position.」
Added the risk that the spread of COVID-19 could curb IT investment through deteriorating performance at Japan's large companies, the Group's main customers, potentially having a material impact on operating performance and financial position. Stated that no significant impact had occurred at this time.