Demand and operational shutdown risks arising from the spread of COVID-19
First written in FY2020. 4 of 12 entries say "Mitigated", first in FY2022. Latest entry: FY2026.
Titan Kogyo moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
1 other company's latest entry also says "Restated".
- FY2026RestatedAnnual report
「The resurgence of COVID-19 or the emergence of a new infectious disease may disrupt business activities through a decline in our group's revenue and the resulting decrease in operating rates.」
The risk to demand and operating rates associated with a resurgence of COVID-19 or the emergence of a new infectious disease continues to be disclosed. - FY2024-Q1MitigatedAnnual report
「During the three months ended the first quarter, Japan's economy entered a moderate recovery trend as economic activity normalized following the lifting of restrictions on activity related to COVID-19.」
The disclosure states that the impact on demand and operating rates was mitigated from the previous fiscal year because restrictions on activity related to COVID-19 were lifted and economic activity normalized. - FY2023-Q2MitigatedAnnual report
「Product demand recovered as restrictions on activity related to COVID-19 were eased.」
As restrictions on activity related to COVID-19 were eased and product demand continued to recover, the impact on demand and operating rates was mitigated from the previous fiscal year. However, the disclosure does not state that the impact of COVID-19 had disappeared. - FY2023-Q1MitigatedAnnual report
「Although signs of a recovery were seen as restrictions on activity related to COVID-19 were eased, conditions remained challenging due to soaring raw material and fuel costs caused by the prolonged situation in Ukraine and the sharp depreciation of the yen.」
As restrictions on activity related to COVID-19 were eased and a recovery in product demand and increases in revenue and earnings were confirmed, the risk to demand and operating rates was mitigated from the previous fiscal year. However, the disclosure does not state that the impact of COVID-19 had disappeared. - FY2022MitigatedAnnual report
「In the titanium dioxide-related business, shipment volumes increased due to the recovery in demand for products for toner external additives and UV-protection cosmetics amid the recovery in economic activity that had contracted due to the COVID-19 pandemic, as well as strong shipments of products for lithium-ion secondary batteries.」
Although the impact of COVID-19 itself continues to be disclosed as a risk, recovery in demand for major products, which had declined in the previous fiscal year, and an increase in shipment volumes were confirmed for the full fiscal year. - FY2022-Q3RestatedAnnual report
「Revenue for the nine months ended the third quarter was ¥5,791 million, up 34.6% year on year, exceeding the year-earlier period, due mainly to strong shipments of some products and the recovery in product demand amid signs of a recovery in economic activity that had contracted as a result of COVID-19.」
The impact of COVID-19 continues to be disclosed, but the recovery in economic activity, the recovery in product demand and the increase in revenue were also described. - FY2022-Q2Demand recovery, but the impact of the pandemic continuesAnnual report
「In the titanium dioxide-related business, shipment volumes increased due to strong shipments of products for lithium-ion secondary batteries and the recovery in demand for products for UV-protection cosmetics and toner external additives amid the recovery in economic activity that had contracted due to the COVID-19 pandemic.」
Although the impact of the pandemic continues to be disclosed, recovery in demand for major products, which had declined substantially in the previous fiscal year, was indicated, and shipment volumes increased. - FY2021MaterialisedAnnual report
「In response to the substantial decline in revenue, our group partially suspended factory operations and received employment adjustment subsidies. Accordingly, employment adjustment subsidies were recorded in non-operating income and costs related to the suspension of operations were recorded in non-operating expenses.」
Regarding the risk of lower demand and operating rates due to COVID-19, partial factory operating suspensions actually occurred and ¥262 million in costs related to the suspension of operations was recorded. - FY2021-Q3WorsenedAnnual report
「As a result, net sales for the third quarter cumulative period were ¥4,301 million, below the same period of the previous year and down 34.6% year on year, due mainly to the rapid contraction in economic activity caused by the global COVID-19 pandemic. Meanwhile, in terms of profit and loss, operating loss was ¥154 million, compared with operating income of ¥325 million in the same period of the previous year, ordinary loss was ¥224 million, compared with ordinary income of ¥324 million, and net loss attributable to owners of the parent was ¥255 million, compared with net income attributable to owners of the parent of ¥270 million, due to the substantial decline in net sales and lower operating rates of facilities.」
The impact of COVID-19 on demand and operating rates continued through the nine months ended the third quarter. Revenue fell 34.6% year on year, and operating, ordinary and earnings attributable to owners of the parent all resulted in losses. - FY2021-Q2WorsenedAnnual report
「Revenue for the six months ended the second quarter was ¥2,722 million, down 34.4% year on year and below the year-earlier period, due mainly to the rapid contraction of economic activity resulting from the global COVID-19 pandemic. In terms of earnings, operating loss was ¥78 million, compared with operating income of ¥298 million in the year-earlier period, ordinary loss was ¥120 million, compared with ordinary income of ¥291 million, and net loss attributable to owners of the parent was ¥129 million, compared with net income attributable to owners of the parent of ¥226 million, mainly due to the substantial decline in revenue and lower facility utilization.」
The impact of COVID-19 on demand and operating rates continued through the six months ended the second quarter. Revenue fell 34.4% year on year, and operating, ordinary and net income attributable to owners of the parent all turned to losses. - FY2021-Q1MaterialisedAnnual report
「In the titanium dioxide-related business, demand for products for UV-protection cosmetics and external toner additives declined significantly as economic activity contracted rapidly due to the global COVID-19 pandemic and other factors. As a result, segment sales were ¥1,042 million and operating income was ¥118 million. In the iron oxide-related business, demand for existing products declined significantly as economic activity contracted rapidly due to the global COVID-19 pandemic and other factors. As a result, segment sales were ¥356 million and the operating loss was ¥49 million.」
Regarding the decline in demand caused by the prolonged COVID-19 pandemic, which was identified as a risk in the previous fiscal year, a substantial decline in demand actually occurred in both the titanium oxide and iron oxide businesses during the first quarter. - FY2020First statedAnnual report
「The prolonged impact of COVID-19 may disrupt business activities through a decline in our group's revenue and the resulting decrease in operating rates. Although we will continue measures such as developing new applications, improving productivity and reducing costs in such circumstances, and will strive to minimize the impact on business results, this may affect our group's business results and other matters. We are working to prevent infections inside and outside the company and to ensure the health and safety of employees, but if employees in our group contract COVID-19 and infections spread within the company through contact among employees, this may affect our group's business results and other matters, including by disrupting production and shipments at factories and suspending operations for a certain period.」
The possibility of lower demand and operating rates due to the prolonged pandemic, as well as production and shipment stoppages resulting from employee infections, was newly identified as a risk. Measures including application development, productivity improvement, cost reduction and infection prevention were also described.