Impact of COVID-19 on Automobile and Market Demand and Sales Activities
First written in FY2020. 5 of 11 entries say "Restated". Latest entry: FY2024.
Ubiquitous AI moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
1 other company's latest entry also says "Reframed".
- FY2024ReframedAnnual report
「In recent years, work styles and business opportunities have also been changing, requiring sales and marketing activities to adopt approaches that respond to these changes.」
The company has moved from its previous explanation, which focused on the direct impact of COVID-19, to broader wording concerning sales and marketing responses to changes in work styles and business opportunities. - FY2023MitigatedAnnual report
「Although constraints on business activities caused by COVID-19 have eased, changes in work styles and business opportunities resulting from the pandemic continue, requiring sales and marketing activities to adopt approaches that respond to these changes.」
While the company explained that the direct constraints on business activities caused by the pandemic had eased, it identified continued adaptation to changes in work styles and business opportunities as an ongoing issue. - FY2023-Q3RestatedAnnual report
「The group has reflected in its accounting the accounting estimates, including judgments regarding the recoverability of deferred tax assets, based on the assumption that the impact of the spread of COVID-19 will continue for at least a certain period. However, the impact of the spread of COVID-19 involves many uncertainties and could affect the group’s financial position and operating results.」
The company continues to explain that it has reflected in its accounting estimates the assumption that the impact of COVID-19 will continue for a certain period, and that the impact involves many uncertainties. - FY2023-Q1RestatedAnnual report
「The group has reflected in its accounting the accounting estimates, including judgments regarding the recoverability of deferred tax assets, based on the assumption that the impact of the spread of COVID-19 will continue for at least a certain period. However, the impact of the spread of COVID-19 involves many uncertainties and could affect the group’s financial position and operating results.」
The company continues to explain that it has reflected in its accounting estimates the assumption that the impact of COVID-19 will continue for at least a certain period, and that the impact involves many uncertainties. - FY2022-Q3RestatedAnnual report
「The group has reflected in its accounting the accounting estimates, including judgments regarding the recoverability of deferred tax assets, based on the assumption that the impact of the spread of COVID-19 will continue for at least a certain period. However, the impact of the spread of COVID-19 involves many uncertainties and could affect the group’s financial position and operating results.」
The company continues to explain that it has reflected in its accounting estimates the assumption that the impact of COVID-19 will continue for at least a certain period, and that the impact involves many uncertainties. - FY2022-Q2RestatedAnnual report
「The group has reflected in its accounting the accounting estimates, including judgments regarding the recoverability of deferred tax assets, based on the assumption that the impact of the spread of COVID-19 will continue for at least a certain period. However, the impact of the spread of COVID-19 involves many uncertainties and could affect the group’s financial position and operating results.」
The company continues to explain that it has reflected in its accounting estimates the assumption that the impact of COVID-19 will continue for at least a certain period, and that the impact involves many uncertainties. - FY2022-Q1RestatedAnnual report
「The group has reflected in its accounting the accounting estimates, including judgments regarding the recoverability of deferred tax assets, based on the assumption that the impact of the spread of COVID-19 will continue for at least a certain period. However, the impact of the spread of COVID-19 involves many uncertainties and could affect the group’s financial position and operating results.」
The company continues to explain that it has reflected in its accounting estimates the assumption that the impact of COVID-19 will continue for a certain period, and that the impact involves many uncertainties. - FY2021-Q3MitigatedAnnual report
「The year-on-year decline in quarterly revenue narrowed from ¥191 million in the first quarter to ¥99 million in the second quarter and ¥41 million in the third quarter, indicating a recovery in revenue, while the third-quarter operating loss is also returning to the level of the same period of the previous year. Vehicle sales declined substantially in April–June, but were recovering in July–September and increased slightly in October–December, while royalty revenue from products already adopted shifted from a recovery trend to an increasing trend.」
Regarding the impact of COVID-19 on vehicle sales and business performance, the company explained that the year-on-year revenue decline narrowed from ¥191 million in the first quarter to ¥41 million in the third quarter, and that vehicle sales and royalty revenue from products already adopted were recovering and increasing. However, it did not state that the impact of the pandemic had been eliminated. - FY2021-Q2MitigatedAnnual report
「As shown in the graph on the following page, revenue and operating loss in the second quarter (July–September) are returning to levels seen in the third quarter (October–December) of the previous fiscal year, immediately before the COVID-19 pandemic. Vehicle sales also declined substantially in April–June, but began to recover in July–September.」
Regarding the impact of COVID-19 on vehicle sales and business performance, the company explained that vehicle sales and business performance were recovering in July–September. However, concerns over a third wave and the difficulty of calculating the full-year forecast remain. - FY2021-Q1MaterialisedAnnual report
「As the COVID-19 pandemic led to a substantial worldwide decline in vehicle sales, shipments and sales of our customers’ products also declined, affecting royalty revenue in the automotive equipment-related business.」
The concerns disclosed in the previous fiscal year regarding the impact of COVID-19 on automotive demand and sales activities materialized in the form of lower shipments and sales of customers’ products and an impact on royalty revenue from automotive-related products. - FY2020First statedAnnual report
「Automotive-related business accounts for approximately 40% of our operating revenue, representing a substantial proportion. Accordingly, a decline in vehicle sales could affect manufacturing royalty revenue, particularly revenue from in-vehicle information terminals.」
In light of the fact that automotive-related revenue accounts for approximately 40% of revenue, the company disclosed as new risks the impact on revenue and sales activities from lower vehicle sales, economic stagnation, and fewer exhibitions and customer visits in connection with COVID-19.