Economic and business impact of COVID-19
First written in FY2020. 5 of 18 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025DroppedAnnual reportThe description of business and other risks and the operating environment for the fiscal year contains no direct discussion of the economic or business impact of COVID-19.
- FY2025-H1RestatedAnnual report
「No new business or other risks arose during the six months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company reaffirmed in its overall risk disclosure that there were no new developments or material changes concerning the economic and business impact of COVID-19. - FY2024MitigatedAnnual report
「In Japan, the transition in the legal status of COVID-19 was accompanied by signs of progress toward economic normalization, improvements in employment and income conditions, and a recovery in personal consumption and inbound demand」
The company stated that the transition in the legal status of COVID-19 was driving economic normalization, reducing the relative impact of previous activity restrictions. On the other hand, uncertainty remained, including higher prices resulting from the weaker yen. - FY2024-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company reaffirmed in its overall risk disclosure that there were no new developments or material changes concerning the economic and business impact of COVID-19. - FY2024-Q2MitigatedAnnual report
「In Japan, although COVID-19 had subsided, the economic outlook remained uncertain due to higher prices resulting from the sharp depreciation of the yen and rising long-term interest rates.」
The company stated that COVID-19 had subsided and that its economic and business impact had relatively weakened. On the other hand, uncertainty remained due to higher prices resulting from the weaker yen and rising long-term interest rates. - FY2024-Q1MitigatedAnnual report
「In Japan, restrictions were eased and economic activity moved toward normalization following the change in the legal classification of COVID-19 to Category 5, and personal consumption showed signs of recovery.」
The company stated that the change in the classification of COVID-19 and the easing of restrictions were driving the normalization of economic activity, reducing the relative impact of previous activity restrictions. - FY2023MitigatedAnnual report
「In Japan, restrictions related to COVID-19 were eased and economic activity moved toward normalization, but uncertain conditions persisted due to significant inflation and other factors.」
The company stated that restrictions related to COVID-19 had been eased and economic activity was moving toward normalization, reducing the relative impact of previous demand and activity restrictions. On the other hand, uncertainty about the outlook remained. - FY2023-Q2RestatedAnnual report
「Although it remains difficult to accurately predict how the COVID-19 pandemic will spread or when it will subside, the Group determined that, because the impact of the pandemic on the Group is limited at the current time, it would not have a material impact on accounting estimates.」
The company continued to judge that the effects of the infection were limited and had no material impact on accounting estimates, while stating that uncertainty related to infection levels remained. - FY2023-Q1RestatedAnnual report
「The global economy during the first-quarter cumulative consolidated period was showing signs of recovery from the COVID-19 pandemic as economic activity resumed, but the pace of recovery slowed due to the effects of the Russia-Ukraine conflict, soaring resource prices, supply chain disruptions, and worldwide inflation」
The company stated that the economy was showing signs of recovery as economic activity resumed, while uncertainty remained in the post-COVID economic environment. It continued to judge that the impact on accounting estimates was limited. - FY2022Continued failure to recover to pre-COVID levelsAnnual report
「Revenue had not recovered to pre-COVID levels, but increased sales for construction materials and other products resulted in revenue of ¥11.567 billion, up ¥722 million year on year.」
The company stated that revenue recovered year on year but had still not returned to pre-COVID levels. - FY2022-Q3Recovery continues but remains below pre-pandemic levelsAnnual report
「Against this economic backdrop, the group implemented thorough measures to prevent COVID-19 infection and worked to review its production processes and introduce IT systems at its facilities, with the aim of improving quality and ensuring stable supply. Revenue and quarterly net income attributable to owners of the parent recovered steadily from the previous year but had not reached pre-COVID levels.」
Revenue and quarterly net income attributable to owners of the parent recovered year on year, but the company stated that they had not reached pre-COVID levels. - FY2022-Q2RestatedAnnual report
「The global spread of COVID-19 caused a sharp downturn, but the economy is showing signs of recovery due to the wider availability of vaccines and the easing of restrictions on economic activity, although conditions vary by country and region. However, uncertainty remains high, as the outlook continues to depend on the status of COVID-19 infections.」
The company reaffirmed the recovery trend in the global economy resulting from the wider availability of vaccines and the easing of restrictions on economic activity, while noting that uncertainty related to infection levels remains. - FY2022-Q1MaterialisedAnnual report
「Revenue had not recovered to pre-COVID levels, but increased sales for construction materials, automobiles, and other products resulted in revenue of ¥2.724 billion, up ¥250 million year on year.」
Although the effects of COVID-19 remained and revenue had not recovered to pre-COVID levels, it recovered year on year due to increased sales for construction materials, automobiles, and other products. - FY2021MaterialisedAnnual report
「Sales for construction materials, automobiles, and other products remained sluggish due to the spread of COVID-19, but revenue was ¥10.844 billion, down ¥1.025 billion, or 8.6%, year on year, as the Chinese economy recovered in the second half and automobiles and other products performed well.」
The effects of COVID-19 appeared in full-year results as weak demand for construction materials and automobiles and an 8.6% decline in revenue. On the other hand, operating profit increased 32.7% due to the recovery of the Chinese economy and automobile demand in the second half. - FY2021-Q3MaterialisedAnnual report
「Against this economic backdrop, the group implemented thorough measures to prevent COVID-19 infection and worked to develop sales channels and ensure stable supply. Revenue was ¥7.956 billion, down ¥1.115 billion, or 12.3%, year on year, as sales for construction materials, automobiles, and other products remained sluggish due to the spread of COVID-19.」
The effects of COVID-19 appeared in third-quarter cumulative results as sluggish sales for construction materials, automobiles, and other products and a 12.3% decline in revenue. - FY2021-Q2MaterialisedAnnual report
「Against this economic backdrop, the group implemented thorough measures to prevent COVID-19 infection and worked to develop sales channels and ensure stable supply. Revenue was ¥5.101 billion, down ¥939 million, or 15.6%, year on year, as sales for construction materials, automobiles, and other products remained sluggish in Japan and overseas due to the spread of COVID-19.」
The effects of COVID-19 appeared in second-quarter cumulative results as sluggish sales for construction materials and automobiles and a 15.6% decline in revenue. - FY2021-Q1MaterialisedAnnual report
「Against this economic backdrop, the group has continued its business activities while implementing thorough measures to prevent COVID-19 infection. However, restrictions on the movement of people domestically and internationally prevented normal sales activities, while the decline in new housing starts following the consumption tax increase and sluggish automobile sales worsened further due to the spread of COVID-19, resulting in significant declines in sales for construction materials and automobiles. In addition, the first-quarter cumulative consolidated period of the Chinese sales subsidiary partially overlapped with the period during which lockdowns were imposed in China, resulting in a 64.5% year-on-year decline in the Chinese sales subsidiary’s revenue.」
Restrictions on movement, weak demand, and lockdowns due to COVID-19 have appeared in actual results as declines in sales for construction materials and automobiles and a 64.5% decrease in revenue at the Chinese sales subsidiary. - FY2020First statedAnnual report
「The spread of COVID-19 has had a significant impact on the global economy and market conditions, and depending on how the outbreak develops and when it comes under control, it may adversely affect the operating results and financial position of the group.」
The company has identified COVID-19 as a principal business and other risk for the first time. The main text states that its effects have already emerged, including impacts on exports to China, a 7.1% decline in revenue, a 77.7% decline in operating profit, and the recording of an impairment loss on investment securities.