Decline in Demand for Automotive- and Construction-Related Products Due to COVID-19
First written in FY2021-Q1. 3 of 7 entries say "Mitigated", first in FY2021-Q3. Latest entry: FY2023.
57 other companies' latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「The number of people infected with COVID-19 is currently trending downward.」
The number of people infected with COVID-19 was reported to be trending downward, indicating an easing from the period when the impact on demand and operations was most severe. However, the risk of new infectious diseases and business continuity planning continue to be discussed. - FY2022-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, consolidated revenue increased despite the impact of applying the Revenue Recognition Accounting Standard and other standards. This reflected the recovery from the decline in demand caused by COVID-19, particularly in the Chemicals segment, which led to higher sales volumes of automotive-related products such as nylon, synthetic rubber and battery materials, as well as higher selling prices for nylon, lactam and synthetic rubber.」
The recovery from the decline in demand caused by COVID-19, higher sales volumes of automotive-related products, and higher selling prices for nylon, lactam and synthetic rubber continued, reaffirming the recovery trend. - FY2022-Q1RestatedAnnual report
「During the current consolidated cumulative period, consolidated revenue increased despite the impact of applying the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards. This reflected the recovery from the decline in demand caused by COVID-19, particularly in the Chemicals segment, which led to higher sales volumes of automotive-related products such as nylon, synthetic rubber and battery materials, as well as higher selling prices for nylon and lactam.」
The recovery from the decline in demand caused by COVID-19, higher sales volumes of automotive-related products, and higher selling prices for nylon and lactam continued to be reported, reaffirming the recovery trend. - FY2021MitigatedAnnual report
「Since the second half began, demand for related products has been trending upward alongside the recovery in automobile production and other activities, and consolidated revenue and operating profit have both remained on a recovery trend.」
Although the impact of COVID-19 on cumulative performance remained, automobile production and other activities recovered in the second half, and demand for related products trended upward. - FY2021-Q3MitigatedAnnual report
「The impact of COVID-19 intensified from the beginning of the fiscal year through the middle of the second quarter of the current fiscal year. However, demand for related products has been trending upward since the second half began, alongside the recovery in automobile production and other activities, and consolidated revenue and operating profit have both remained on a recovery trend.」
Although cumulative performance was below the year-earlier period, demand for related products trended upward in the second half as automobile production and other activities recovered, and revenue and operating profit were described as being on a recovery trend. - FY2021-Q2WorsenedAnnual report
「Although demand was trending toward recovery in the second half of the fiscal year, we assumed that the recovery would be slower than anticipated at the end of the previous consolidated fiscal year and made accounting estimates, including the recoverability of deferred tax assets.」
The impact of COVID-19 intensified from the beginning of the fiscal year through the middle of the period, and it was stated that demand recovery in the second half would also be slower than anticipated at the end of the previous fiscal year. - FY2021-Q1First statedAnnual report
「During the first quarter of the current fiscal year, consolidated revenue declined as it was significantly affected by COVID-19, particularly in the Chemicals segment. Sales volumes of automotive-related products such as synthetic rubber and battery materials decreased, while selling prices for nylon and lactam also fell.」
The impact of COVID-19 was reflected in the performance of multiple businesses, including lower sales volumes of automotive-related products, lower selling prices for nylon and lactam, and delays and work stoppages in public works projects.