Impact of COVID-19 on Business and Customer IT Investment
First written in FY2020. 4 of 10 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024.
4 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「During the fiscal year, Japan's economy recovered moderately despite signs of stagnation amid the continuing depreciation of the yen and rising prices.」
In the discussion of business risks and operating performance for the fiscal year, the previously separate descriptions of project postponements and cancellations due to COVID-19 have been removed, with the focus shifting to the weaker yen and rising prices. - FY2022MitigatedAnnual report
「In the existing businesses, some projects were postponed or cancelled due to the spread of COVID-19, but the Company's broad business portfolio proved effective, allowing the Company as a whole to maintain a growth trend.」
Although the pandemic resulted in project postponements and cancellations, the Company states that its broad business portfolio enabled it to maintain a growth trend company-wide. - FY2022-Q3MitigatedAnnual report
「In terms of business performance, the broad business portfolio being expanded strategically proved effective, and the business as a whole progressed steadily as strong system investment demand in the private sector offset the decline following the previous increase in public-sector-related operations.」
The Company states that, despite the continuing aftereffects of the pandemic, its broad business portfolio and capture of private-sector demand for systems investment offset the decline in public-sector-related business, allowing the business as a whole to perform smoothly. - FY2022-Q2MitigatedAnnual report
「In terms of performance, transactions with existing customers expanded and the acquisition of new customers progressed smoothly even during the fifth wave of COVID-19, and the business as a whole remained broadly solid.」
The Company states that transactions with existing customers expanded and new customer acquisition progressed even during the fifth wave of COVID-19, and that the business as a whole remained broadly solid. - FY2022-Q1MitigatedAnnual report
「This was mainly because business development suited to the new-normal era, undertaken to address the stagnation of certain businesses under the state of emergency during the same quarter of the previous year, progressed smoothly.」
The Company states that its response to the new normal, addressing business stagnation during the pandemic in the same quarter of the previous year, progressed and led to higher revenue and profit in the enterprise business. - FY2021MaterialisedAnnual report
「In the existing businesses, some projects were postponed or cancelled due to the spread of COVID-19, but the Company's broad business portfolio proved effective, allowing the Company as a whole to maintain a growth trend.」
Although COVID-19 actually resulted in project postponements and cancellations, the Company states that its broad business portfolio enabled it to maintain a growth trend company-wide. - FY2021-Q3WorsenedAnnual report
「As the impact of COVID-19 has continued for an extended period, the Company needs to address deterioration in market conditions within its operating areas and decreases and stagnation in orders resulting from deteriorating performance at its business partners as its main business challenges.」
Against the backdrop of the prolonged pandemic, deterioration in market conditions, deteriorating performance at business partners, and decreases and stagnation in orders are explicitly identified as the main business challenges. - FY2021-Q2WorsenedAnnual report
「Although business activities were temporarily disrupted by project postponements and cancellations, and restrictions on sales activities and business travel, the Company responded appropriately and flexibly to changes in the business environment surrounding itself and its customer companies through existing projects and operational support.」
It is specifically stated that, as COVID-19 continued for an extended period, business activities were temporarily stagnant due to project postponements and cancellations, as well as restrictions on sales activities and business travel. - FY2021-Q1WorsenedAnnual report
「In these circumstances, the Company has strengthened initiatives for business development, including AI, IoT and cloud services, with the aim of achieving sustainable growth despite changes in the business environment, but was affected by COVID-19 through project postponements and cancellations, as well as restrictions on sales activities and business travel resulting from limits on going out.」
The Company states that COVID-19 actually resulted in project postponements and cancellations, as well as restrictions on sales activities and business travel. - FY2020MaterialisedAnnual report
「With regard to COVID-19, projects may be reduced, postponed or cancelled if infections spread at the Company or its partner companies, or if customer companies proceed with cuts to their IT investment. In these circumstances, the Company is continuing efforts to prevent infections, including implementing the government's recommended "new lifestyle", while pursuing creative measures to adapt to a "new style of working" in order to minimise the impact on its business activities and operating performance.」
The spread of COVID-19, reductions in customer IT investment, and the possibility of projects being reduced, postponed or cancelled were described separately as risks for the first time. Although restrictions such as refraining from commuting, business meetings and business travel occurred, the impact on the current fiscal year's performance is described as limited.