Risk of COVID-19 affecting business activities and revenue
First written in FY2020-Q1. 5 of 14 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023MitigatedAnnual report
「During the current consolidated fiscal year, the Japanese economy gradually moved toward normalization of economic activity following the reclassification of COVID-19 as a Category 5 infectious disease, among other factors, and the economy continued to recover moderately.」
It states that economic activity is moving toward normalization following the reclassification of COVID-19 as a Category 5 infectious disease, and indicates that the business impact previously caused by the spread of the infection is easing. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy showed signs of a recovery in personal consumption and capital investment as economic activity normalized following the reclassification of COVID-19 as a Category 5 infectious disease, and the economy continued to recover moderately.」
It describes the reclassification of COVID-19 as a Category 5 infectious disease and the normalization of economic activity, together with a recovery in personal consumption and capital investment. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy has shown signs of a resumption in economic activity following the easing of restrictions on activities related to COVID-19.」
It states that the easing of restrictions on activities related to COVID-19 has led to signs of a resumption in economic activity. - FY2022MitigatedAnnual report
「The Company has determined that, at present, COVID-19 has no significant impact on the operating results of its businesses. However, because disruption to the corporate or production activities of the Company and its subsidiaries could affect their operating results, the Company is conducting business while thoroughly implementing infection-prevention measures at each business location.」
While determining that COVID-19 currently has no significant impact on the operating results of its businesses, the Company is thoroughly implementing infection-prevention measures at each location. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the accounting estimates concerning the spread of COVID-19 described under Additional Information in the annual securities report for the previous consolidated fiscal year.」
The Company states that there have been no significant changes to the accounting estimates resulting from the spread of COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates concerning the spread of COVID-19 described under Additional Information in the annual securities report for the previous consolidated fiscal year.」
The Company states that there have been no significant changes to the accounting estimates resulting from the spread of COVID-19. - FY2021MitigatedAnnual report
「Regarding the impact of COVID-19, sales of automotive coatings, affected by lower production in the automotive industry related to the Chemicals business, and sales of printing inks, affected by the cancellation of trade shows, have generally recovered. The decline in domestic demand for cosmetics related to the Functional Chemicals business is also gradually recovering, and the Company has determined that there is no significant impact on the operating results of each business.」
Demand for and sales of automotive coatings, printing inks and cosmetics have generally or gradually recovered, and the Company has stated that there is no significant impact on the operating results of the respective businesses. - FY2021-Q3RestatedAnnual report
「The Company will continue to closely monitor the future impact of the spread of COVID-19 on its business and operating results.」
The Company continues to closely monitor the impact of COVID-19 on its business and operating results. - FY2021-Q2RestatedAnnual report
「The Company will continue to closely monitor the future impact of the spread of COVID-19 on its business and operating results.」
The Company continues to closely monitor the impact of COVID-19 on its business and operating results. It also states that there have been no significant changes to its accounting estimates. - FY2021-Q1RestatedAnnual report
「The Company will continue to closely monitor the future impact of the spread of COVID-19 on its business and operating results.」
The Company continues to closely monitor the impact of COVID-19 on its business and operating results. Additional information states that there have been no significant changes to the accounting estimates for the previous consolidated fiscal year. - FY2020WorsenedAnnual report
「The Company had assumed that the effects of the spread of COVID-19 would continue through the second half of 2020 and that a gradual recovery would follow. However, it is difficult to forecast when the spread will subside, and although the situation is trending toward recovery, the Company expects the effects to continue for a certain period in 2021.」
The outlook for the impact of COVID-19 was changed from an assumption that it would continue through the second half of 2020 to an expectation that it would continue for a certain period in 2021. Its impact on demand for automotive coatings, printing inks and cosmetics was also reflected in full-year results. - FY2020-Q3MaterialisedAnnual report
「In the Chemicals business, sales by the Acrylic Esters Group for automotive coatings remained weak due to lower production in the automotive industry resulting from the impact of COVID-19, while sales for printing inks were weak due to the cancellation of trade shows, resulting in lower net sales. Sales by the Methacrylic Esters Group also remained weak, resulting in lower net sales. Segment profit declined due to the decrease in net sales. As a result, net sales were ¥7,254 million, down 17.8% year on year, and segment profit was ¥466 million, down 17.2% year on year. The Company assumes that the effects of the spread of COVID-19 will continue through the second half of 2020 and that a gradual recovery will follow. The Company has determined that the impact on the business and operating results of the Group will not be significant enough to materially affect estimates for the current consolidated fiscal year.」
The impact of COVID-19 was reflected in the results through lower production in the automotive industry, weak sales and a 17.8% decline in net sales and a 17.2% decline in segment profit in the Chemicals business. For accounting purposes, the Company assumed that the impact would continue through the second half of 2020 and then recover, and determined that it would not materially affect estimates for the current year. - FY2020-Q2MaterialisedAnnual report
「In the Chemicals business, sales of the acrylate group for automotive coatings remained sluggish due to lower automobile production resulting from the impact of COVID-19, resulting in lower revenue. Sales of the methacrylate group also remained sluggish, resulting in lower revenue. However, segment profit increased due to lower raw material costs and the consolidation and elimination of unprofitable products. As a result, revenue was ¥5,176 million, down 11.0% year on year, and segment profit was ¥454 million, up 15.2% year on year.」
The impact of COVID-19 was reflected in the results through lower production in the automotive industry, weak sales of automotive coatings and an 11.0% decline in net sales in the Chemicals business. Meanwhile, profit increased due to lower raw material costs and the consolidation and discontinuation of unprofitable products. - FY2020-Q1First statedAnnual report
「The spread of COVID-19 may affect the Company’s business activities and ability to secure earnings, depending on how the situation develops.」
While stating that there have been no significant changes to existing business risks, the disclosure identifies the possibility that the spread of COVID-19 may affect future business activities and the ability to secure earnings as an additional risk factor.