Economic Deterioration and Order Deferrals Due to the Novel Coronavirus and Other Factors
First written in FY2020-Q3. 5 of 11 entries say "Restated". Latest entry: FY2023.
Kinjiro moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 111 of 174 companies on the "Worse" side.
14 other companies' latest entry also says "Reframed".
- FY2023ReframedAnnual report
「In addition, restrictions on sales activities due to infectious diseases and stagnation in corporate investment in systems will affect the acquisition of orders.」
The wording has shifted from explicit references to economic deterioration caused by COVID-19 and order deferrals to a more generalized description treating restrictions on sales activities due to infectious diseases and stagnation in corporate investment in systems as factors in estimating software revenue. - FY2022SoftenedAnnual report
「During the fiscal year under review, the Japanese economy showed signs of recovery in personal consumption and corporate production activity as the difficult conditions caused by COVID-19 eased. However, the outlook remained uncertain due to soaring commodity prices resulting from the prolonged Russia-Ukraine situation and the continued depreciation of the yen. Regarding the impact of the spread of COVID-19 on accounting estimates, the company made its estimates on the assumption that the impact on the company was minor and not significant, as the spread had not had a significant impact on the business activities of the Group as of the end of the fiscal year under review.」
The company states that the difficult conditions caused by COVID-19 had eased and that there was no significant impact on business activities as of the end of the fiscal year, with the impact being minor. The wording is less severe than through the previous quarter. At the same time, it states that the outlook for containment or renewed spread remains uncertain. - FY2022-Q3SoftenedAnnual report
「As the difficult conditions caused by COVID-19 eased, personal consumption and corporate production activity showed signs of recovery. However, the outlook remained uncertain due to soaring commodity prices resulting from the prolonged Russia-Ukraine situation and the continued depreciation of the yen.」
The company states that the difficult economic conditions caused by COVID-19 had eased, weakening the description of its impact compared with before. At the same time, the outlook remained uncertain due to soaring commodity prices and the depreciation of the yen. - FY2022-Q2RestatedAnnual report
「During the second quarter of the fiscal year under review, the Japanese economy had an uncertain outlook as the spread of COVID-19 and Russia's invasion of Ukraine heightened upward pressure on prices of primary commodities, particularly crude oil.」
The company continues to describe the impact of COVID-19 on the economy and the uncertainty surrounding the outlook. - FY2022-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review, the Japanese economy had an uncertain outlook as the spread of COVID-19 and Russia's invasion of Ukraine heightened upward pressure on prices of primary commodities, particularly crude oil.」
The company continues to describe the impact of COVID-19 on the economy and explains that the economic outlook is uncertain. New geopolitical and commodity-price risks were added as a separate thread. - FY2021RestatedAnnual report
「During the fiscal year under review, the Japanese economy remained in an extremely difficult situation as economic activity was significantly constrained following the declaration of a state of emergency in response to the spread of COVID-19, while employment conditions and corporate earnings deteriorated rapidly.」
The company continues to describe the impact of COVID-19 on economic activity. However, in its accounting estimates, it considers the significant impact on business activities as of the end of the fiscal year to have been minor, while stating that the timing of containment and the possibility of renewed spread remain uncertain. - FY2021-Q3RestatedAnnual report
「During the third quarter of the fiscal year under review, the Japanese economy faced a difficult environment as constraints on economic activity continued due to the fifth wave of COVID-19, including the expansion of areas subject to states of emergency and priority preventive measures and extensions of their duration. At the same time, the number of new infections was trending downward as vaccinations progressed, raising expectations for a recovery in consumption, the normalization of corporate activity and, ultimately, an economic recovery.」
While constraints on economic activity due to the fifth wave and states of emergency continued, the company also describes progress in vaccinations, a decline in new infections and expectations for an economic recovery. Rather than characterizing conditions as having deteriorated consistently from the previous quarter, it reconfirms that the infectious disease risk remains ongoing. - FY2021-Q2WorsenedAnnual report
「During the second quarter of the fiscal year under review, the Japanese economy remained in a difficult situation as the spread of COVID-19 showed no signs of abating, and economic activity was constrained by repeated declarations of states of emergency and the application of priority preventive measures. Although COVID-19 vaccinations had begun to progress, the spread of variants made it impossible to forecast when the situation would subside, leaving the economic outlook uncertain.」
The company states that the spread of the infectious disease had not abated, states of emergency and other measures had been imposed repeatedly, and the spread of variants made it impossible to forecast when the situation would subside. The risk factors had become more specific than in the previous quarter. - FY2021-Q1RestatedAnnual report
「During the first quarter of the fiscal year under review, the Japanese economy remained in a difficult situation, as the spread of COVID-19 continued to have a significant impact on economic activity, including through the declaration of a second state of emergency.」
The company states that the second state of emergency and the spread of the infectious disease continued to have a significant impact on economic activity, and that difficult economic conditions persisted. - FY2020MaterialisedAnnual report
「During the fiscal year under review, the Japanese economy remained in an extremely difficult situation as economic activity was significantly constrained following the declaration of a state of emergency in response to the spread of COVID-19, while employment conditions and corporate earnings deteriorated rapidly.」
The company describes restrictions on economic activity caused by COVID-19 and the deterioration in corporate earnings as the actual economic environment. Customer companies also deferred orders, indicating that the risk had materialized in the business environment. - FY2020-Q3First statedAnnual report
「The Japanese economy remained in a difficult-to-forecast situation due to the risk of economic deterioration associated with the spread of COVID-19. Orders were deferred, particularly by customer companies that continued to be affected even after the state of emergency ended, and some contracts were changed to cloud contracts,」
The company identifies economic deterioration caused by COVID-19 as a risk and describes order deferrals by customer companies as an actual impact. The US-China trade friction, sluggish consumption and weaker appetite for capital investment are also identified as external environmental factors.