Impact on Business and Performance from the Spread of COVID-19
First written in FY2020. 4 of 13 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025DroppedAnnual report
「During the consolidated fiscal year, economic conditions remained uncertain. The economy generally continued to recover gradually, but concerns included the impact of an economic slowdown in China, price trends and monetary policy in major countries, volatile foreign exchange markets, and heightened geopolitical risks resulting from prolonged tensions in Ukraine and the Middle East.」
This filing contains no disclosure treating COVID-19 as a standalone risk, and its discussion of economic conditions has shifted to general economic, foreign exchange and geopolitical risks. - FY2024MitigatedAnnual report
「During the consolidated fiscal year, economic conditions continued to show a gradual recovery as economic activity normalized following the easing of restrictions on activity during the COVID-19 pandemic, although」
The company indicated that economic activity was normalizing as restrictions on activity were eased and that the economy was gradually recovering, while the impact of COVID-19 on economic activity was easing compared with the previous fiscal year. - FY2024-Q2MitigatedAnnual report
「During the cumulative second quarter, the economic environment remained uncertain. Although economic activity was normalizing as restrictions on behavior during the COVID-19 pandemic were eased and the economy was on a moderate recovery trend, concerns persisted over an economic slowdown due to prolonged inflation caused by the extended situation in Ukraine and surging resource and energy prices, as well as prolonged monetary tightening in major countries.」
The company indicated that economic activity was normalizing as restrictions on activity were eased and that the economy was gradually recovering, while the impact of COVID-19 on economic activity was easing compared with the previous fiscal year. - FY2024-Q1MitigatedAnnual report
「Although economic activity has been normalizing as restrictions on activity have been eased during the COVID-19 pandemic and the economy has been gradually recovering,」
The company indicated that economic activity was normalizing as restrictions on activity were eased and that the impact of COVID-19 on economic activity was easing compared with the previous fiscal year. - FY2023-Q3Coexistence of concerns over a rapid increase in COVID-19 cases in China and no material change in accounting estimatesAnnual report
「There have been no material changes to the assumptions underlying the determination, stated under “Additional Information” in the securities report for the previous consolidated fiscal year in “Impact of the Spread of COVID-19 on Accounting Estimates,” that the spread of COVID-19 had no impact on accounting estimates.」
While concerns arose over a rapid increase in infections in China following the shift in its COVID-19 policy, the company states that there have been no material changes to the assumptions underlying its determination that there is no impact on accounting estimates. - FY2023-Q1Coexistence of concerns over the impact of lockdowns in China and the absence of a material impactAnnual report
「During the first quarter of the current consolidated cumulative period, conditions were uncertain and difficult as the worsening situation in Ukraine and lockdowns in major Chinese cities to contain COVID-19 exacerbated surging global resource prices and supply chain disruptions, while growing concerns about inflation raised fears of an economic recession.」
While infectious disease control measures, including lockdowns in major Chinese cities, affected resource prices and supply chains, the company determined that there had been no material change in accounting estimates resulting from the spread of COVID-19. - FY2022MitigatedAnnual report
「Although concern remains over the impact of changes in economic conditions and the business environment resulting from the global spread of COVID-19, we have determined that there has been no material impact on business activities or performance at this time and that there is no impact on accounting estimates.」
Although the timing of the containment of the outbreak remains unforeseeable, the company explains that, as of the end of the fiscal year, there had been no material impact on business activities or performance. - FY2022-Q1RestatedAnnual report
「Although the timing of the end of the COVID-19 pandemic remained unforeseeable, economic recovery continued, particularly in the United States and China, supported by vaccine availability and economic measures. However, infections have recently begun to spread again due to variants.」
The timing of the end of the pandemic remains unforeseeable, and renewed spread due to variants is a concern. At the same time, the disclosure also notes the economic recovery centered on China. - FY2021MaterialisedAnnual report
「Regarding results for the consolidated fiscal year, although the Company was affected by reduced demand in the automotive, home appliance, building materials and other fields associated with the spread of COVID-19, demand in the liquid crystal display-related field, which had been undergoing an adjustment in the previous fiscal year, recovered. Growth in sales for large-TV applications in the Chinese market also contributed to net sales of ¥31,493 million, up 9.7% from the previous consolidated fiscal year.」
While reduced demand in the automotive, home appliance and building materials fields due to the spread of COVID-19 continued, the recovery in liquid crystal display-related demand in China drove total net sales up 9.7% year on year. - FY2021-Q3MaterialisedAnnual report
「During the first nine months of the fiscal year, demand declined in fields including automobiles, consumer electronics and building materials due to the spread of COVID-19, but demand in the liquid-crystal-display-related field, which had been undergoing an adjustment in the previous fiscal year, recovered sharply and began to expand again. As a result, net sales were ¥22,384 million, up 5.7% year on year.」
While reduced demand in the automotive, home appliance and building materials fields due to the spread of COVID-19 continued, demand in the liquid crystal display-related field recovered sharply, and total net sales increased 5.7% year on year. - FY2021-Q2MaterialisedAnnual report
「Although affected by reduced demand in the automotive, home appliance and other fields, demand in the liquid crystal display-related field, particularly in the Chinese market, recovered sharply and chemicals sales increased, while completed construction work for equipment systems declined.」
Reduced demand in the automotive and home appliance fields due to the spread of COVID-19, as well as extensions to equipment systems construction schedules and postponements of orders, continued to appear as specific business impacts in the 2nd quarter. Meanwhile, demand related to liquid crystal displays in China recovered sharply. - FY2021-Q1MaterialisedAnnual report
「Regarding results for the 1st quarter consolidated cumulative period, demand in the liquid crystal display-related field in the Chinese market was showing signs of recovery. However, chemicals sales remained at approximately the same level as in the same period of the previous year due to reduced demand in the automotive, home appliance and other fields associated with the spread of COVID-19, resulting in net sales of ¥6,797 million, up 0.9% year on year. Equipment systems were affected by extensions to construction schedules and postponements of orders associated with the spread of COVID-19, but net sales were ¥701 million, up 13.0% year on year, due in part to completed construction work related to equipment exceeding the level in the same period of the previous year.」
For COVID-19, which was said at the previous fiscal year-end to have had no material impact on results, specific business impacts became apparent in the 1st quarter, including reduced demand in the automotive and home appliance fields and extensions to construction schedules and postponements of orders. - FY2020First statedAnnual report
「While the timing of the end of the COVID-19 pandemic remains unforeseeable, prolonged stagnation in economic activity or changes in the business environment surrounding the Company may affect the Group's results. Although the Company is thoroughly implementing infection-control measures, including introducing working from home and restricting domestic and overseas business travel, the occurrence of infections may affect the Group's results through suspension of production activities, restrictions on sales activities and other effects.」
Disclosed COVID-19 as a separate risk for the first time. The Company explained that although infections were spreading and economic activity was stagnating, no material impact on business activities or results had occurred as of the fiscal year-end.