Stalled Business Activity and Weaker Demand Due to COVID-19
First written in FY2020. 2 of 10 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024-Q2.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q2MitigatedAnnual report
「In Japan, COVID-19 was reclassified to the same category as seasonal influenza, and socioeconomic activity has been normalizing. However, amid the continuing trend of yen depreciation, uncertainty persists, including owing to soaring commodity and energy prices.」
In Japan, the reclassification of COVID-19 and normalization of socioeconomic activity progressed, indicating that the risk of business stagnation caused by the infection was easing. Meanwhile, uncertainty owing to yen depreciation and soaring commodity and energy prices remained. - FY2024-Q1MitigatedAnnual report
「During the cumulative first-quarter consolidated period, socioeconomic activity was normalizing worldwide following the removal of COVID-19-related restrictions and other measures. However, raw material and energy prices remained elevated owing to the prolonged invasion of Ukraine, and monetary tightening continued in the United States and Europe to contain inflation, requiring close monitoring of the economic outlook.」
The removal of COVID-19-related restrictions and other measures advanced the normalization of socioeconomic activity, and the impact of the previously identified risks of business stagnation and weaker demand was easing. Meanwhile, uncertainty owing to higher raw material and energy prices and monetary tightening continued. - FY2023-Q1RestatedAnnual report
「Economic activity was normalizing in countries around the world as the number of COVID-19 cases declined. However, inflationary pressures were intensifying owing to the prolonged Russian invasion of Ukraine and higher resource prices, while uncertainty about the outlook continued, including the impact of monetary tightening in the United States and elsewhere.」
While the decline in infections and normalization of economic activity progressed, an uncertain environment remained owing to inflation and monetary tightening, indicating both an improvement in the impact of COVID-19 and the continuation of external environmental risks. - FY2022-Q3Infection rates improved, but the impact continuedAnnual report
「In the Philippines, activity restrictions were eased as the number of COVID-19 cases declined, but the effects of the continued spread of COVID-19 persisted.」
In the Philippines, the number of cases declined and activity restrictions were eased, allowing the medical and aesthetic business to recover. However, corporate connectivity services in Metro Manila remained sluggish owing to continued working from home, and the impact persisted. - FY2022-Q2RestatedAnnual report
「As many companies continued working from home as a COVID-19 countermeasure, sales of corporate internet connectivity services in Metro Manila, a core revenue source for InfiniVAN, Inc., remained sluggish.」
The continued shift to working from home due to COVID-19 has been a factor behind sluggish sales of corporate internet connectivity services, and the impact on business activities continues to be reported. - FY2022-Q1WorsenedAnnual report
「In the Philippines, movement restrictions have again been tightened since March to address the rapid spread of COVID-19.」
Movement restrictions were tightened again in the Philippines amid the rapid spread of COVID-19, and business activities continue to be affected, including delays in line activations and sluggish corporate sales. - FY2021-Q3WorsenedAnnual report
「The Metro Manila area entered lockdown in mid-March owing to the spread of COVID-19, forcing all 3 clinics we operate to remain closed through the end of May. As a result, revenue was ¥369 million, down 41.9% year on year, and segment profit was ¥26 million, down 86.7%.」
The impact of COVID-19 on the medical and aesthetic business continued, and the 3 clinics remained closed through the end of May. Revenue was ¥369 million and segment profit was ¥26 million, both down significantly year on year. - FY2021-Q2MaterialisedAnnual report
「Shinagawa Lasik & Aesthetics Center Corporation, our consolidated subsidiary, operates 3 clinics in the Philippines that primarily provide LASIK procedures. On 16 March, in response to the spread of COVID-19, the Philippine government issued community quarantine measures (Quarantine Controls) that severely restricted the movement of people. In response, all 3 clinics temporarily suspended operations from 17 March. The company recorded ¥47 million in rent, depreciation and other costs incurred during the suspension as a loss from temporary closures and related measures.」
The 3 clinics suspended operations owing to quarantine measures imposed by the Philippine government, and ¥47 million in rent, depreciation and other costs incurred during the suspension was recorded as a loss from temporary closures and related measures. The impact of COVID-19 on the medical and aesthetic business has crystallized as a loss. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first-quarter consolidated period, the global economy was subject to significant constraints on economic activity owing to the worldwide spread of COVID-19. Economic growth also slowed sharply in many countries in Southeast Asia, where the Philippines, one of our main business bases, is located.」
The impact of COVID-19 on business activities materialized. Delays in laying cables on Mindanao, an impact on developing new domestic telecommunications business in the Philippines, lower demand for personnel recruitment, and the closure of medical and aesthetic clinics, resulting in lower revenue and profit, were reported. The medical and aesthetic business recorded a loss of ¥10 million from temporary closures and related measures. - FY2020First statedAnnual report
「If, owing to the spread of COVID-19 or other infectious diseases, the countries or local authorities in which the Group operates issue business suspension orders, stay-at-home orders or requests to suspend operations, the Group's business activities may stagnate or be suspended.」
COVID-19 was disclosed as a standalone risk for the first time. In the Philippines, movement restrictions and business suspensions were implemented, reducing demand for personnel and inbound travel in the business related to foreign residents. In the medical and aesthetic business, a decline in the number of surgeries was expected.