Business Impact of Natural Disasters and COVID-19
First written in FY2020. 3 of 8 entries say "Restated". Latest entry: FY2022.
Genetec moved to the "Worse" side of this theme in 2022, 2 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 66 of 112 companies on the "Worse" side.
14 other companies' latest entry also says "Worsened".
- FY2022WorsenedAnnual report
「In recent years, natural disasters such as large typhoons, floods and major earthquakes, whose frequency and severity have increased owing to climate change, as well as wars, terrorism and other events could cause personal injury or property damage to our group or business partners. Further, if the spread of COVID-19 becomes even more severe or prolonged, sales activities could stagnate and the investment plans of business partners could be significantly affected.」
In addition to natural disasters, the company explicitly identified climate change, war, terrorism and the prolongation of COVID-19 as risks affecting the business. It also described measures including business continuity plans, staggered working hours and telework. - FY2022-Q3RestatedAnnual report
「The Japanese economy during the first 3 quarters of the current consolidated fiscal year remained in a difficult situation as the impact of the prolonged spread of COVID-19 continued. However, it showed signs of recovery as restrictions on activities were gradually eased owing to thorough infection-control measures, progress in vaccinations and the effects of various policies.」
Although the impact of COVID-19 has been prolonged, the company also reported signs of recovery resulting from the easing of restrictions on activities. It stated that there had been no significant changes in business or other risks. - FY2022-Q2RestatedAnnual report
「During the first 2 quarters of the current consolidated fiscal year, there were no significant changes to the assumptions stated in the annual securities report for the previous consolidated fiscal year, including assumptions about how COVID-19 would spread in the future and when it would end.」
The company stated that there had been no significant changes to the previous fiscal year's assumptions regarding the spread of COVID-19 and the timing of its end. - FY2022-Q1RestatedAnnual report
「However, the end of the spread of COVID-19 remains out of sight. The non-manufacturing sector has been somewhat sluggish owing partly to the effects of the state of emergency declared in April this year, and the situation remains uncertain.」
The company stated that uncertainty caused by COVID-19 continues, but that there have been no significant changes in business or other risks. - FY2021-Q3WorsenedAnnual report
「The Japanese economy during the first 3 quarters of the current consolidated fiscal year remained in a difficult situation, as capital investment continued to decline amid a renewed spread of COVID-19. The outlook also remains uncertain, with a state of emergency reimposed in January 2021.」
The company reported a renewed spread of infection, continued declines in capital investment and the reimposition of a state of emergency in January 2021, indicating that the challenging external business environment has become more prolonged and severe. - FY2021-Q2Impact continues, partial recoveryAnnual report
「In the contracted system development business, we continue to conduct development work through telework while avoiding the Three Cs, and there have been signs of improvement, including the gradual resumption of projects that had been forced to suspend development. However, some projects were canceled in response to reductions in development investment by manufacturers, and the situation remains uncertain.」
Although the impact of COVID-19 remains apparent, the company also reported some recovery, including the continuation of development through telework and the resumption of suspended projects. At the same time, the effects of project cancellations and restrained capital investment remain. - FY2021-Q1MaterialisedAnnual report
「After a state of emergency was declared in Japan in April 2020, the contracted system development business was able to continue development work by implementing partial telework and other measures. However, the business environment changed as the company had to voluntarily suspend sales activities to prevent the spread of infection. In the engineering solutions business, conditions have gradually begun to recover since the state of emergency was lifted, but sales activities overall, including those of distributors, stagnated owing to the cancellation of trade shows and the increase in telework.」
The impact of COVID-19, identified as a risk in the previous fiscal year, materialized in the form of the state of emergency, voluntary suspension of sales activities, canceled trade shows, stagnant sales activities and declining orders in the automotive field. In the first quarter, revenue was ¥933 million and the operating loss was ¥40 million; the additional information also states that further spread or prolongation of the infection could affect future results. - FY2020First statedAnnual report
「If the spread of COVID-19 becomes more severe or prolonged, demand in the fields targeted for development could decline, potentially having a significant impact on system development investment by customer manufacturers. Alternatively, the increase in trade shows and telework could cause sales activities to remain stalled.」
The company also refers to arrangements for business continuity through staggered working hours and telework.