Economic Deterioration and Supply Constraints Caused by the Novel Coronavirus Disease
First written in FY2021-Q1. 6 of 14 entries say "Softened", first in FY2022-Q3. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024SoftenedAnnual report
「During the fiscal year under review, COVID-19 was reclassified as a Category 5 disease under the Infectious Diseases Act in May 2023, and the economy gradually recovered as economic activity normalized.」
The disclosure describes COVID-19’s reclassification as a Category 5 disease, the normalization of economic activity and economic recovery, further easing the previous risk assessment centered on pandemic-related economic deterioration. - FY2024-Q1SoftenedAnnual report
「During the cumulative first quarter under review, economic activity in Japan continued to normalize and the economy remained firm, led by personal consumption. As a result, real GDP growth for January–March 2023 was 2.7% on an annualized quarter-on-quarter basis, marking positive growth for the first time in three quarters. In addition, COVID-19 was reclassified in May 2023 as a Category 5 disease under the Infectious Diseases Act, and GDP growth for April–June is also expected to be positive.」
The disclosure describes COVID-19’s reclassification as a Category 5 disease, the normalization of economic activity and positive GDP growth, further easing the wording on the pandemic’s economic impact. - FY2023SoftenedAnnual report
「During the fiscal year under review, economic activity in Japan normalized and the economy remained firm, particularly on the strength of domestic demand. This reflected the full lifting of the COVID-19 quasi-emergency measures in March 2022, the resumption of accepting foreign tourists from October 2022, and other government measures to normalize economic activity as the government’s response to COVID-19 changed.」
Against the backdrop of the lifting of infection-control measures and the normalization of economic activity, the wording has been further eased from the previous description of severe impacts caused by the spread of infection. - FY2023-Q3SoftenedAnnual report
「During the cumulative third quarter under review, domestic demand remained firm in the Japanese economy against the backdrop of normalized economic activity.」
Regarding the economic impact of COVID-19, the disclosure describes the normalization of economic activity and firm domestic demand, further easing the previous wording that indicated severe impacts. - FY2023-Q2SoftenedAnnual report
「During the cumulative second quarter under review, the Japanese economy recorded real GDP growth of 2.2% on an annualized quarter-on-quarter basis in April–June 2022. This was the highest growth rate in six quarters, since the 6.7% growth recorded in October–December 2020, as household savings accumulated during the pandemic and government measures to address rising prices supported personal consumption following the containment of COVID-19.」
The economic assessment has shifted to indicate that personal consumption and real GDP recovered following the containment of COVID-19. - FY2023-Q1ReframedAnnual report
「The COVID-19 quasi-emergency measures were fully lifted in March 2022, consideration began regarding the resumption of accepting foreign tourists, and economic activity is expected to normalize. Accordingly, although real GDP growth for January–March 2022 was negative quarter on quarter, GDP growth for April–June 2022 is expected to return to positive growth.」
While the wording has shifted to express expectations that the lifting of infection-control measures and normalization of economic activity will occur in Japan, supply chain disruption caused by China’s zero-COVID policy is identified as an external risk, indicating a shift in the focus of pandemic-related risks. - FY2022RestatedAnnual report
「Within our group, restrictions on face-to-face sales activities have delayed the launch of projects and resulted in lost opportunities to acquire new projects. If the spread of infections or other factors affects the economic environment, our business performance may be affected.」
The disclosure continues to describe the risk that restrictions on face-to-face sales, delays in launching projects and lost opportunities to acquire new projects due to COVID-19 could affect business performance. - FY2022-Q3SoftenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy remained weak, although the severe conditions caused by COVID-19 were gradually easing.」
The wording regarding the impact of COVID-19 on the economy has changed to state that the challenging situation is gradually easing. However, the disclosure continues to describe the weakness of the economic recovery. - FY2022-Q2RestatedAnnual report
「The spread of COVID-19, including variants, has yet to be contained, and there is a risk that the economy could underperform depending on the impact of renewed domestic and overseas infections on economic expansion」
The disclosure continues to describe the lack of visibility on when the spread of COVID-19 will be contained and the risk of an economic downturn caused by renewed infections. - FY2022-Q1RestatedAnnual report
「There is a risk that the economy could underperform depending on the impact of renewed domestic and overseas infections on economic expansion」
The disclosure continues to describe the risk that renewed spread of COVID-19 could affect economic activity and expansion. - FY2021RestatedAnnual report
「COVID-19 infections continue to spread, and the outlook remains uncertain because the timing of containment and the impact of further spread cannot be foreseen.」
The disclosure continues to identify the persistence of COVID-19 and uncertainty over when it will be contained and what its impact will be as risks. - FY2021-Q3RestatedAnnual report
「In the short term, new orders may decline year on year because of delays in securing appointments, business negotiations and consideration by customer companies as a result of COVID-19. If the cancellation or postponement of trade shows, which provide valuable opportunities to acquire prospective customers, continues, we may be unable to make sufficient growth investments.」
The disclosure continues to describe the risks of delays in appointments, business negotiations and customer consideration, declines in new orders, and cancelled or postponed trade shows due to COVID-19. - FY2021-Q2WorsenedAnnual report
「In the short term, new orders may decline year on year because of delays in securing appointments, business negotiations and consideration by customer companies as a result of COVID-19. If the cancellation or postponement of trade shows, which provide valuable opportunities to acquire prospective customers, continues, we may be unable to make sufficient growth investments.」
The impact of COVID-19 has extended beyond overall economic deterioration and supply constraints to include delays in appointments, business negotiations and internal consideration by customers, declining new orders, cancelled or postponed trade shows, and constraints on growth investment. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter under review, the Japanese economy remained in an extremely challenging situation, with rapid deterioration continuing due to COVID-19. Exports declined rapidly because of the pandemic, while imports, although still affected by the pandemic, have recently begun to bottom out. Although economic activity overseas is gradually resuming, supply constraints caused by the pandemic are expected to persist for the time being.」
The disclosure describes the actual effects of COVID-19, including rapid economic deterioration, declining exports and prospective supply constraints.