Impact of the COVID-19 pandemic on business and financial performance
First written in FY2020. 4 of 13 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024ReframedAnnual report
「If the impact of the pandemic is prolonged, the group’s business activities may stagnate due to sluggish personal consumption and domestic and international supply-chain disruptions, potentially affecting the group’s operating performance and financial position.」
The company has reorganized its previous disclosure, which focused on COVID-19, into business-continuity risks from generally infectious diseases, including weak demand, supply-chain disruptions and employee infections. - FY2023SoftenedAnnual report
「Regarding the outlook, restrictions on economic activity resulting from the COVID-19 pandemic are easing, which is expected to have a positive effect on the economic recovery, while」
The company states that restrictions on economic activity resulting from the pandemic are easing, a softer description than the previous wording referring to a period of rapid deterioration. However, it continues to identify the prolonged impact of the pandemic and supply-chain disruptions as risks. - FY2023-Q3WorsenedAnnual report
「The outlook for the global economy remains extremely uncertain due to soaring raw material and fuel prices resulting from the prolonged invasion of Ukraine by Russia and the impact of economic sanctions imposed on Russia by governments around the world, forecasts of an economic downturn caused by monetary tightening in Europe and the United States in response to inflationary pressures, and the economic impact of slower growth under China's zero-COVID policy and the sharp rise in infections following its lifting.」
Regarding the impact of the pandemic, the company newly describes the economic impact of a rapid increase in infections following the lifting of restrictions, in addition to slowing growth under China’s zero-COVID policy. - FY2023-Q1Balancing public health measures with economic activity as the pandemic continuesAnnual report
「During the first quarter of the current fiscal year, Japan’s economy remained in a difficult situation. Although progress was being made in balancing measures to contain the COVID-19 pandemic with economic activity, and an economic recovery was expected, the situation remained challenging due to the rapid depreciation of the yen, soaring prices for raw and fuel materials, and supply-chain disruptions caused by lockdowns in major Chinese cities.」
The company states that progress is being made in balancing public health measures with economic activity amid the pandemic, while difficult economic conditions, including the impact of the pandemic, continue. - FY2022Continued sales recovery amid the impact of the pandemicAnnual report
「Revenue for the current fiscal year was ¥206,184 million, an increase of 8.1% year on year from the previous fiscal year, which was significantly affected by the COVID-19 pandemic.」
Revenue increased 8.1% year on year, despite the continued impact of the pandemic and supply constraints, reflecting a recovery from the significant deterioration in performance in the previous year. - FY2022-Q3Sales recovery amid the pandemicAnnual report
「Against this economic backdrop, our group’s active sales efforts resulted in revenue of ¥151,757 million for the first nine months of the current fiscal year, an increase of 10.8% year on year from the period significantly affected by the COVID-19 pandemic.」
Revenue increased 10.8% year on year, partly reflecting the rebound from the significant impact in the same period of the previous year, despite the continued impact of the pandemic and supply constraints. - FY2022-Q2Sales recovery amid the pandemicAnnual report
「Against this economic backdrop, our group’s active sales efforts resulted in revenue of ¥98,105 million for the first six months of the current fiscal year, an increase of 16.7% year on year from the period significantly affected by the COVID-19 pandemic.」
Revenue increased 16.7% year on year, reflecting the rebound from the significant impact in the same period of the previous year, despite the continued impact of the COVID-19 pandemic and component shortages. - FY2022-Q1Performance recovery amid continuing pandemic impactAnnual report
「During the current cumulative quarter of the consolidated fiscal year, the Japanese economy showed signs of a recovery in exports, but remained in a difficult situation, with weakness in the recovery of personal consumption and employment conditions as the impact of COVID-19 continued.」
While the domestic economy remained in a difficult situation as the impact of the pandemic continued, the Group's sales increased 12.3% year on year, and ordinary profit also increased from the year-earlier period. - FY2021WorsenedAnnual report
「Against this economic backdrop, the Group pursued active sales activities, but was affected by the global economic downturn. Full-year sales declined 14.3% year on year to ¥190,673 million.」
The global economic downturn, including the impact of COVID-19, affected full-year performance. Sales declined 14.3% year on year, while ordinary profit was ¥4,749 million. - FY2021-Q3WorsenedAnnual report
「The business environment surrounding the Group showed signs of recovery in Japan as a result of various government policies, but the economy remained in a difficult situation as COVID-19 infections began to rise again.」
Infections in Japan began to rise again, while the spread of infections overseas worsened, accompanied by restrictions on movement. The impact of the pandemic continued, and sales declined 17.7% year on year. - FY2021-Q2WorsenedAnnual report
「Against this economic backdrop, the Group pursued active sales activities, but was affected by the global economic downturn. Sales for the six-month period ended the current second quarter of the consolidated fiscal year declined 23.3% year on year to ¥84,030 million. The Group's performance has been significantly affected, primarily in its domestic and overseas automotive glass businesses and domestic glass fiber business, as automakers in various countries adjusted production.」
The continuing global economic downturn caused by COVID-19 has materialized in its impact on the automotive glass and glass fiber businesses and in sales declining 23.3% year on year. - FY2021-Q1MaterialisedAnnual report
「The business environment surrounding the Group has deteriorated sharply as economic activity stagnated due to states of emergency and various restrictions imposed by governments around the world in response to the global spread of COVID-19, and the Group's performance has been significantly affected.」
The risk from COVID-19 has materialized as stagnation in economic activity and deteriorating performance in businesses including automotive glass and glass fiber. - FY2020First statedAnnual report
「The rapid deterioration in the business environment caused by the stagnation of economic activity resulting from states of emergency and various restrictions imposed by governments around the world in response to the global spread of COVID-19 may affect the Group's financial position and operating results.」
COVID-19 was mentioned for the first time as an independent business risk. The disclosure also describes the possibility of a sharp economic deterioration in the fourth quarter and an impact on the automotive glass and architectural glass businesses in the following fiscal year.