Postponement and Cancellation of Projects and Impact on Business Performance Due to the Spread of COVID-19
First written in FY2020. 5 of 12 entries say "Restated". Latest entry: FY2024.
iRidge moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 24 of 28 companies on the "Worse" side.
2 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「Since 2020, the Group has been affected by reduced budgets at client companies and the postponement or cancellation of real-world promotions, particularly in offline marketing, as a result of restrictions on going out and other measures associated with the spread of COVID-19. If a new infectious disease spreads in the future, changes in the timing of its containment or other circumstances may affect the Group's business and performance.」
After organizing the historical impact of COVID-19 on performance, the company has reframed the risk as relating to future outbreaks of new infectious diseases and other events. - FY2023-Q2RestatedAnnual report
「Although the effects of the COVID-19 pandemic continued, particularly in offline marketing (real-world promotion), demand related to online marketing (digital marketing), centered on app development and app marketing, remained solid against a backdrop of companies stepping up their DX (digital transformation) initiatives and increasing digital investment.」
The company has reconfirmed that, while the impact of the infection has continued in the offline marketing area, demand in the online marketing area remains solid. - FY2023-Q1RestatedAnnual report
「Although the impact of the spread of COVID-19 has continued, particularly in offline marketing, or real-world promotions, demand for online marketing, or digital marketing, centered on app development and app marketing, remained solid against a backdrop of stronger corporate efforts to promote DX (digital transformation) and increased digital investment.」
The company has reconfirmed that, while the impact of the infection on offline marketing has continued, demand related to online marketing remains solid. - FY2022MitigatedAnnual report
「In addition, although the impact of the spread of COVID-19 on performance, particularly in real-world promotions, has continued, signs of recovery were observed compared with the previous consolidated fiscal year.」
Although the impact of the infection on real-world promotions has continued, signs of recovery were evident compared with the previous consolidated fiscal year, and the realized impact of the risk has eased to some extent. - FY2022-Q3RestatedAnnual report
「Although the effects of the COVID-19 pandemic continued to affect the Group, particularly in the real-world promotion business, demand in digital marketing, centered on app development and app marketing, remained solid against a backdrop of companies stepping up their DX (digital transformation) initiatives and increasing digital investment.」
The company has reconfirmed that, while the impact of the infection has continued, particularly in the real-world promotion area, demand in the digital marketing area has remained solid. - FY2022-Q2RestatedAnnual report
「Although the effects of the COVID-19 pandemic continued to affect the Group, particularly in the real-world promotion business, demand in digital marketing, centered on app development and app marketing, remained solid against a backdrop of companies stepping up their DX (digital transformation) initiatives and increasing digital investment.」
While the impact of COVID-19 has continued, particularly in areas related to real-world promotions, demand in the digital marketing area remains solid, a situation the company has reconfirmed. - FY2022-Q1RestatedAnnual report
「Although the effects of the COVID-19 pandemic continued to affect the Group, particularly in the real-world promotion business, demand in digital marketing, centered on app development and app marketing, remained solid against a backdrop of companies stepping up their DX (digital transformation) initiatives and increasing digital investment.」
While the impact of COVID-19 has continued, particularly in areas related to real-world promotions, demand in the digital marketing area remains solid, a situation the company has reconfirmed. - FY2021WorsenedAnnual report
「As of the date of submission of this document, there is still no clear outlook for when COVID-19 will be contained. Changes in the timing of containment or other circumstances may affect the Group's business and performance going forward.」
The accounting estimates have been specified on the assumption that the impact of the infection will continue throughout the fiscal year, demand for real-world promotions will recover from the second half of the fiscal year ending March 2022 onward, and demand will return to pre-pandemic levels in the fiscal year ending March 2025. - FY2021-Q3WorsenedAnnual report
「However, the impact of restrictions on going out and other measures resulting from the spread of COVID-19 on the offline promotion business of consolidated subsidiary DG Marketing Design Co., Ltd. was greater than anticipated, creating the possibility that the timing of the containment of COVID-19 could have a material impact on accounting estimates. In light of the reissuance of the state of emergency declaration in the Tokyo metropolitan area, the Group has changed its assumption for its accounting estimates, assuming that demand for offline promotions will gradually recover from the second half of the fiscal year ending March 2022 onward.」
The company explained that the impact on offline promotions was greater than anticipated and changed its assumption for demand recovery to the second half of the fiscal year ending March 2022 onward. The possibility of an impact on performance due to a prolonged spread of the infection also remains. - FY2021-Q2MaterialisedAnnual report
「Although digital marketing-related business centred on app development in the core O2O area remained solid, revenue declined because large-scale development projects had been concentrated in the same period of the previous year and offline promotions decreased as a result of restrictions on going out due to the spread of COVID-19.」
Restrictions on going out and a decline in offline promotions due to the spread of COVID-19 also occurred during the cumulative second quarter and were one factor behind the 14.0% year-on-year decline in revenue. - FY2021-Q1MaterialisedAnnual report
「In the core O2O area, the cancellation of offline events and reductions in client-company budgets resulting from restrictions on going out due to the impact of COVID-19 were factors, but the larger scale and higher value added of development projects contributed to revenue.」
In the first quarter, restrictions on going out, the cancellation of offline events, and reduced budgets at client companies due to COVID-19 also occurred, affecting business activities. - FY2020MaterialisedAnnual report
「From February of this year, some projects were affected by the cancellation of various event promotions and other measures to prevent the spread of COVID-19. As a result, revenue in the fourth quarter, from 1 January 2020 to 31 March 2020, was below expectations.」
The spread of COVID-19 and measures to prevent infection resulted in canceled event promotions, postponed or scaled-back projects, and a decline in new projects, causing revenue to fall below expectations. The stated impact included an approximately ¥260 million reduction in expected revenue and an approximately ¥71 million impact on operating profit.