Economic and Business Performance Impact Risk from the Spread of COVID-19
First written in FY2020. 6 of 13 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025DroppedAnnual reportCOVID-19 is not described as a specific risk, but rather as a general risk alongside natural disasters and other events.
- FY2023SoftenedAnnual report
「During the consolidated fiscal year, Japan’s economy followed a recovery trend as the adverse effects of COVID-19 eased. At the same time, factors weighing on economic activity became increasingly prominent, including surging energy prices against the backdrop of the chaotic situation in Ukraine and stagnation in some production activities due to shortages of raw materials, …」
While the adverse effects of the infection eased and the economy was described as being on a recovery trend, the focus of risk recognition shifted from the infection to energy prices, shortages of raw materials and supply chains. - FY2023-Q3ReframedAnnual report
「During the third quarter of the current fiscal year on a consolidated cumulative basis, Japan’s economy recovered moderately as the effects of measures to address COVID-19 and various policies supporting economic activity took hold, despite continuing price increases and supply constraints on parts and materials. However, uncertainty remained as the situation in Ukraine continued for an extended period and global monetary tightening persisted, increasing vigilance over exchange-rate volatility accompanying a widening gap between domestic and overseas interest rates, downside risks to overseas economies and developments in infections in China.」
Regarding Japan’s economy, the company states that it recovered moderately due to infection-control measures and the effects of government policies, while identifying new sources of uncertainty, including developments in infections in China. - FY2023-Q2SoftenedAnnual report
「During the second quarter of the current fiscal year on a consolidated cumulative basis, Japan’s economy faced downward pressures on economic activity, including rising prices and supply constraints on parts and materials. However, as measures to address COVID-19 progressed and activity restrictions were eased further, the economy as a whole continued to recover moderately.」
The company continues to identify rising prices and supply constraints on parts and materials as downward pressures, while describing progress in measures to address COVID-19, a further easing of activity restrictions and a recovery in economic activity. - FY2023-Q1SoftenedAnnual report
「During the first quarter of the current fiscal year on a consolidated cumulative basis, Japan’s economy saw a relaxation of the severe conditions caused by COVID-19, with signs of movement toward the normalization of economic activity.」
The company states that the severe economic conditions caused by COVID-19 eased and that signs of movement toward the normalization of economic activity emerged. Accordingly, the previous risk wording centered on the spread of infection and uncertainty over containment has become less severe. - FY2022RestatedAnnual report
「However, with concerns over a renewed spread of COVID-19 still unresolved, the economy remained highly uncertain, as the yen weakened and prices rose amid growing tensions surrounding the situation in Ukraine.」
The company continues to describe the downside risk to the economy from a renewed spread of the infection and newly refers to the situation in Ukraine, yen depreciation and rising prices. - FY2022-Q3RestatedAnnual report
「Looking ahead, an ongoing economic recovery is expected as the effects of various government economic measures take hold. However, close attention must also be paid to downside risks from the global inflationary trend and rising resource prices, as well as the impact of a renewed spread of COVID-19.」
While continued economic recovery is expected, the company continues to describe the downside risk from a renewed spread of COVID-19. - FY2022-Q2SoftenedAnnual report
「Looking ahead, a further clear recovery is expected as vaccinations progress, the state of emergency and priority preventive measures were fully lifted at the end of September, and the effects of the government’s economic measures are also expected to emerge.」
While the impact of COVID-19 remains, expectations for an economic recovery are expressed against a backdrop of vaccinations, the lifting of restrictions and government economic measures, and the wording used to describe the risks has become less severe. - FY2022-Q1RestatedAnnual report
「During the first three months of the fiscal year, economic activity in Japan was constrained by the impact of COVID-19, while corporate earnings and business sentiment showed signs of improvement due to increased exports and other factors, and the economy was gradually recovering. Looking ahead, a continued recovery is expected as vaccination progresses and various government policies take effect, but the situation remains uncertain, including because the number of new infections began to rise again in July.」
The company continues to describe the restraint on economic activity caused by the infection and the uncertain outlook resulting from a renewed increase in new cases. At the same time, it also describes improvements in corporate earnings and business sentiment driven by increased exports and other factors. - FY2021RestatedAnnual report
「During the fiscal year, the Japanese economy remained in a difficult situation due to the impact of COVID-19. Although various government policies were implemented and some signs of recovery were seen, infections began to spread again, leaving no clear prospect of containment, and the economic outlook remained uncertain.」
The company continues to describe the risk to business performance from severe economic conditions caused by the infection and the uncertainty surrounding renewed spread and the outlook for containment. - FY2021-Q2RestatedAnnual report
「During the first six months of the fiscal year, the Japanese economy remained in a difficult situation due to the impact of COVID-19, although some signs of recovery were seen. With no end to the spread of infections yet in sight, the economic outlook remains uncertain.」
The company continues to describe the severe economic conditions caused by the impact of COVID-19 and the downside risk to the economy resulting from the lack of visibility on when the spread of the infection will subside. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current fiscal year on a consolidated cumulative basis, Japan’s economy was in an extremely severe condition due to the impact of COVID-19. Following the lifting of the state of emergency declaration in late May, the economy was beginning to bottom out, but depending on the future spread of COVID-19, there was a risk of further downside in domestic and overseas economies, and the outlook remained uncertain. The results for the first quarter of the current fiscal year on a consolidated cumulative basis were not directly affected by the spread of COVID-19.」
The company continues to describe the severe economic conditions caused by the infection and the downside risk from further spread. At the same time, it explicitly states that there was no direct impact on results in the first quarter. - FY2020First statedAnnual report
「Looking ahead, severe conditions are expected to continue due to the impact of COVID-19, and close attention must be paid to the risk that further spread of the infection could cause additional downside in domestic and overseas economies.」
The downside risk to domestic and overseas economies from COVID-19 and the uncertainty surrounding its impact on the group’s business performance are identified as new risks. The company also states that “there was no direct impact from the spread of COVID-19” during the fiscal year.