Economic Stagnation and Uncertainty Caused by COVID-19
First written in FY2020-Q2. 7 of 16 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025DroppedAnnual reportThe FY2025 filing contains no specific discussion of economic stagnation or uncertainty over when COVID-19 would subside. Business-continuity risks from large-scale disasters, including infectious diseases, continue to be disclosed under t26.
- FY2023RestatedAnnual report
「The occurrence of a large-scale infectious disease such as COVID-19 could make it difficult to provide services if employees or others become infected.」
The filing continues to identify difficulty providing services, restrained customer IT investment and stalled new business development caused by COVID-19 as business risks. - FY2023-Q3SoftenedAnnual report
「During the nine months ended [the third quarter], restrictions related to COVID-19 were eased further, and economic activity remained on a gradual recovery trend.」
The description has shifted to further easing of COVID-19 restrictions and a gradual recovery in economic activity. Language indicating economic stagnation caused by the pandemic has weakened compared with the previous quarter. - FY2023-Q2RestatedAnnual report
「During the six months ended [the second quarter], economic and social activity in Japan showed signs of a gradual recovery as restrictions on movement and overseas travel related to COVID-19 were eased.」
The filing continues to describe the recovery in economic and social activity following the easing of movement and other restrictions, as well as the post-pandemic economic environment. - FY2023-Q1RestatedAnnual report
「During the three months ended [the first quarter], economic and social activity in Japan showed signs of a gradual recovery as restrictions on movement and overseas travel were eased, although concerns about the spread of COVID-19 continued.」
While concerns about COVID-19 continued, the filing states that economic and social activity was recovering as movement and other restrictions were eased, continuing to show both recovery and uncertainty from the previous period. - FY2022SoftenedAnnual report
「During the fiscal year, Japan's economy remained affected by a high level of new COVID-19 cases, but economic activity was on a solid recovery trend following the easing of restrictions on movement and overseas travel.」
Although the number of cases remained high, economic activity was described as recovering as movement and other restrictions were eased. The accounting assessment also found the impact of COVID-19 to be immaterial at that time. - FY2022-Q3SoftenedAnnual report
「During the nine months ended [the third quarter], economic activity that had preceded the prolonged impact of COVID-19 resumed while comprehensive infection-control measures remained in place. However, the economic outlook in Japan and overseas remained uncertain due to the prolonged situation in Ukraine, shortages of raw-material supplies, and the yen's depreciation amid global interest-rate adjustments.」
Although the impact of COVID-19 has been prolonged, the filing states that economic activity has resumed, weakening the description of the pandemic's impact compared with the previous filing. Uncertainty surrounding the economic outlook continues. - FY2022-Q2SoftenedAnnual report
「During the six months ended [the second quarter], the number of new COVID-19 cases in Japan was trending down from its peak, and economic and social activity showed signs of a gradual recovery. However, geopolitical risks, including the prolonged situation in Ukraine, had also emerged, leaving domestic and overseas economic trends uncertain.」
The filing refers to the decline in new COVID-19 cases and the recovery in economic and social activity, weakening the language describing the severity of conditions compared with previous quarters. Uncertainty surrounding economic trends nevertheless persists. - FY2022-Q1SoftenedAnnual report
「During the three months ended [the first quarter], Japan's economic and social activity showed signs of a gradual recovery as the severe conditions caused by COVID-19 gradually eased. However, the number of new cases of a new variant had risen sharply, and a full recovery in economic growth was expected to take time.」
The description has shifted to the gradual easing of pandemic-related difficulties and a recovery in economic and social activity. At the same time, the increase in cases of a new variant and the time required for a full recovery in growth continue to be identified as risks. - FY2021RestatedAnnual report
「Even after the start of 2022, the spread of COVID-19 had not subsided, and uncertainty about the outlook continued.」
The filing continues to describe the spread of COVID-19 and uncertainty about the outlook. At the same time, its accounting assessment is that the impact on the consolidated financial statements is currently immaterial. - FY2021-Q3RestatedAnnual report
「Although it remains difficult to predict when COVID-19 and related issues will subside in Japan, there have been no material changes to the assumptions used in accounting estimates concerning the impact of the pandemic described in the previous fiscal year's securities report under Additional Information.」
The difficulty of forecasting when the pandemic will subside continues to be disclosed, while the assumptions used in accounting estimates are stated to have remained materially unchanged. - FY2021-Q2RestatedAnnual report
「Although it remains difficult to predict when COVID-19 and related issues will subside in Japan, there have been no material changes to the assumptions used in accounting estimates concerning the impact of the pandemic described in the previous fiscal year's securities report under Additional Information.」
The timing of the end of COVID-19 remains difficult to predict, but the assumptions used in accounting estimates have not changed materially. - FY2021-Q1RestatedAnnual report
「During the three months ended [the first quarter], demand in Japan and overseas remained low as COVID-19 continued to spread. It was also difficult to forecast the course of infection waves or when vaccines would become widely available, and uncertainty persisted.」
Weak domestic and overseas demand, together with uncertainty over infection trends and the timing of vaccine deployment, is described as a continuing economic risk from the previous fiscal year. - FY2020WorsenedAnnual report
「During the fiscal year, demand in Japan and overseas declined as COVID-19 spread. The outlook remained uncertain because the spread of the virus continued into 2021.」
The filing describes declining demand and continued uncertainty caused by the spread of COVID-19. It also specifies potential effects, including restrained or deferred IT investment, reduced existing projects, stalled new business development, lower demand for recruitment and staffing services, and deteriorating cash flow due to requests for payment extensions. - FY2020-Q3WorsenedAnnual report
「During the nine months ended [the third quarter], the Japanese economy showed signs of a partial recovery, but employment conditions and other areas remained uncertain as the impact of COVID-19 persisted.」
Compared with the previous description of stagnant economic and consumer activity, this filing explicitly refers to the prolonged impact of the pandemic and uncertainty surrounding employment conditions. Although no material impact on accounting estimates was identified, the filing also states that a material impact could arise in subsequent quarters. - FY2020-Q2First statedAnnual report
「During the six months ended [the second quarter], the Japanese economy remained uncertain as the global spread of COVID-19 caused economic and consumer activity to stagnate.」
The stagnation of economic and consumer activity is described as an event that had already occurred. The filing also states that it was determined to have no material impact on accounting estimates.