Risk of restrictions on economic activity and declining demand caused by COVID-19
First written in FY2021-Q1. 3 of 13 entries say "Materialised", first in FY2021-Q2. Latest entry: FY2024-Q2.
Jcu moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
58 other companies' latest entry also says "Mitigated".
- FY2024-Q2MitigatedAnnual report
「Overseas, in China, the lifting of the zero-COVID policy led to a recovery in personal consumption, but manufacturing output remains weak as the backlog of orders accumulated under the zero-COVID policy has been largely worked through.」
The lifting of China's zero-COVID policy eased the direct impact of pandemic-related activity restrictions on private consumption, but sluggish manufacturing production remains. - FY2024-Q1MitigatedAnnual report
「In the automotive industry, mainly in Japan and China, disruptions to parts supply chains related to COVID-19 were showing signs of improvement, but the impact of the global semiconductor shortage had not been fully resolved, and automobile production volumes declined.」
Disruptions to parts supply chains related to the pandemic showed signs of improvement, and private consumption in China recovered after the lifting of its zero-COVID policy. However, the impact of the semiconductor shortage remains. - FY2023MaterialisedAnnual report
「Overseas, in China, strict activity restrictions under the zero-COVID policy caused personal consumption to stagnate. In addition, manufacturing output declined due to reduced production of smartphones and automobiles.」
Activity restrictions implemented to control the pandemic affected the business throughout the fiscal year through sluggish consumption and lower production in China. - FY2023-Q3Easing and reimposition of activity restrictions in China occurring simultaneouslyAnnual report
「Overseas, in China, the easing of strict activity restrictions in early June led to a recovery in personal consumption and an increase in manufacturing output. However, after restrictions were reimposed from August onward, personal consumption stagnated and manufacturing output declined.」
Economic activity in China temporarily recovered as pandemic-related activity restrictions were eased, but sluggish consumption and lower production recurred following their reimposition from August onward, with easing impacts and renewed deterioration occurring simultaneously. - FY2023-Q2RestatedAnnual report
「Overseas, in China, strict activity restrictions were imposed in some regions, causing personal consumption to stagnate and manufacturing output to decline.」
While restrictions on movement were eased in Europe and the United States, activity restrictions continued in some regions of China, continuing to highlight regional differences in pandemic-related constraints on economic activity. - FY2023-Q1Continuing activity restrictions in China and easing restrictions in Europe and the United StatesAnnual report
「Overseas, private consumption in China remained sluggish and manufacturing production declined as strict activity restrictions were imposed in some regions. In Europe and the United States, restrictions on movement related to COVID-19 were eased, but Russia's invasion of Ukraine has caused energy and resource prices to surge and supply chains to become disrupted, requiring continued close monitoring.」
While restrictions on movement related to the pandemic were eased in Europe and the United States, strict activity restrictions continued in some regions of China, resulting in sluggish consumption and lower production. Easing pandemic impacts and economic constraints that vary by region have occurred simultaneously. - FY2022Easing of pandemic impacts alongside continuing supply constraintsAnnual report
「Overseas, China contained the spread of COVID-19 and maintained economic growth relative to other countries. Manufacturing activity also recovered as power shortages that had restricted production eased. In Europe and the United States, economic activity resumed following the rollout of vaccines, while the resurgence of COVID-19 and prolonged supply constraints affecting raw materials, semiconductors and other inputs have hindered the recovery of manufacturing production.」
While economic activity and production in China recovered, the resurgence of the pandemic and supply constraints affecting raw materials and semiconductors continued, with easing impacts and continuing constraints occurring simultaneously. - FY2022-Q3Easing of pandemic impacts alongside continuing economic constraintsAnnual report
「The domestic economy continued to perform steadily in the information and communications sector. Personal consumption also showed signs of recovery, led by services consumption, as the number of new infections remained low and the state of emergency was lifted.」
While domestic consumption and the resumption of investment by manufacturers showed signs of recovery as the number of new infections remained low and the state of emergency was lifted, economic constraints continued overseas and in non-manufacturing sectors, where the end of the pandemic remains uncertain, as well as as a result of supply constraints. - FY2022-Q2Activity resumes, but economic constraints continueAnnual report
「In the domestic economy, the information and communications sector remained firm, while consumption in service industries such as accommodation and food services continued to stagnate amid repeated declarations of a state of emergency and the application of priority preventive measures. The polarization between industries became pronounced.」
While economic activity has resumed in Europe and the United States following the rollout of vaccines and production recovery has progressed in China, domestic consumption has remained sluggish due to states of emergency and other measures. The impact of restrictions on economic activity caused by the pandemic has therefore been mixed, with some easing and some continuing. - FY2022-Q1Impact easing, but continued vigilance over variantsAnnual report
「In China, foreign companies are expanding business investment despite US-China tensions, partly because China has contained the spread of COVID-19 and maintained economic growth compared with other countries, and partly because of its significant growth potential. In Europe and the United States, vaccination is progressing, but the situation remains one in which vigilance against highly transmissible variants cannot be relaxed.」
The report describes China's containment of infections and maintenance of economic growth, indicating that the impact of pandemic-related restrictions on economic activity has eased in part. Meanwhile, consumption remains weak in Japan due to declarations of a state of emergency and other measures, and Europe and the United States continue to remain vigilant against variants. - FY2021-Q3MaterialisedAnnual report
「The domestic economy was on a recovery trend after the declaration of a state of emergency was lifted, even as economic contraction caused by the spread of COVID-19 continued, but consumption stagnated following the subsequent resurgence of infections.」
The prolonged pandemic and its resurgence have been reflected in actual weakness in consumption, while cautious capital investment and stagnant automotive and smartphone markets have continued. - FY2021-Q2MaterialisedAnnual report
「Overseas, in addition to the economic slowdown caused by prolonged US-China trade tensions, consumer demand decelerated sharply as economic activity was restricted worldwide by the spread of COVID-19. Although manufacturing operations in China have resumed, the outlook remains uncertain as it is not possible to predict when infections will subside in Japan or overseas, and concerns about a resurgence have emerged.」
The prolonged COVID-19 pandemic, concerns about a resurgence and continuing restrictions on economic activity have had an actual impact on the business through a sharp slowdown in consumer demand, more cautious capital investment, and stagnant automotive and smartphone markets. - FY2021-Q1First statedAnnual report
「The domestic economy was hit directly by the economic contraction caused by the spread of COVID-19, interrupting the gradual economic recovery trend from the previous fiscal year. In addition to a decline in consumption due to restrictions on nonessential outings following the declaration of a state of emergency and more cautious capital investment, exports also fell sharply as overseas economies deteriorated. Overseas, in addition to the economic slowdown caused by prolonged US-China trade tensions, consumer demand decelerated sharply as economic activity was restricted worldwide by the spread of COVID-19.」
The company has disclosed for the first time as a standalone theme the economic contraction caused by the spread of COVID-19, the sharp slowdown in consumer demand, lower factory operating rates and restrictions on sales activities. It also describes the actual impact on the business, including a substantial decline in automotive-related sales in Japan and China.