Deterioration in Business Activity and Demand Due to the Spread of COVID-19
First written in FY2021-Q1. 4 of 12 entries say "Mitigated", first in FY2023. Latest entry: FY2024.
Fujikura Composites moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 78 of 113 companies on the "Worse" side.
32 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「During the consolidated fiscal year, the global economy saw increased economic activity and was returning to its pre-pandemic state, but geopolitical risks, including Russia's invasion of Ukraine and conflicts in the Middle East, continued to pose a threat to global supply chains.」
The impact of restrictions on economic activity due to infectious diseases has eased, and economic activity is gradually returning to pre-pandemic levels, but lingering effects, such as excess distribution inventories of medical devices, continue. - FY2024-Q3Excess distribution inventories of products made in larger volumes continue to have an impact after the pandemic subsidesAnnual report
「The medical market was affected by excess distribution inventories of medical equipment produced in larger volumes during the COVID-19 pandemic, resulting in lower revenue and lower profit.」
While restrictions on economic activity related to the pandemic have been eased, the lingering impact of excess distribution inventories of medical equipment produced in larger volumes during the COVID-19 pandemic has emerged in the medical market. - FY2024-Q2MitigatedAnnual report
「In Japan, inbound demand and domestic travel have recovered, and supply chains are moving toward normalization, but raw material costs, energy costs, and prices remain elevated and continue to weigh on economic activity.」
Inbound demand and domestic travel are recovering, and supply chains are normalizing, easing some of the impact of the spread of COVID-19 on economic activity. Higher costs, however, continue. - FY2024-Q1MitigatedAnnual report
「During the three months ended 30 June 2022, the global economy continued to normalize and pick up as various restrictions were eased, but Russia's invasion of Ukraine showed no signs of ending and continued to have a significant impact. In Japan, activity approaching pre-pandemic levels was seen, including an increase in inbound tourism, and shortages of raw materials and components in supply chains were gradually easing. However, raw material costs, energy costs, and prices remained elevated, acting as a drag on economic activity.」
The company describes the easing of various restrictions, the normalization and revitalization of economic activity, an increase in inbound tourism, and the gradual easing of raw material and component shortages, indicating that the impact of restrictions on economic activity caused by the spread of COVID-19 has eased somewhat. However, higher costs and the situation in Ukraine continue to have an impact. - FY2023MitigatedAnnual report
「The global spread of COVID-19 has come to an end, and the global economy is regaining momentum toward normalization.」
The description has changed from deterioration caused by the spread of COVID-19 and restrictions on economic activity to a statement that the pandemic has subsided and the economy is moving toward normalization. However, uncertainty caused by Russia's invasion of Ukraine and other factors remains. - FY2023-Q3WorsenedAnnual report
「During the nine-month period of the third quarter of the fiscal year, the global economy gradually showed signs of normalisation and revitalisation of economic activity. However, the uncertain outlook remains unchanged due to lost opportunities resulting from labour shortages, higher raw material costs caused by Russia's invasion of Ukraine, which shows no sign of ending, disruption in the Chinese market as infections increased following the lifting of the zero-COVID policy, and rising prices in Japan resulting from the yen's depreciation.」
While economic activity is normalizing, market disruption caused by a rise in infections following the end of China's zero-COVID policy occurred, meaning that pandemic-related effects have continued in a different form. - FY2023-Q2Economic normalization coexists with the impact of China's lockdownsAnnual report
「During the nine-month period of the second quarter of the fiscal year, the Japanese economy showed signs of normalisation and revitalisation of economic activity as restrictions were eased through the resumption of accepting foreign tourists and travel support measures. However, the outlook remains uncertain due to rising prices resulting from the yen's depreciation, higher raw material costs caused by Russia's prolonged invasion of Ukraine, and the cooling of the Chinese market as the zero-COVID policy continued.」
While economic activity is normalizing and picking up as restrictions are eased, pandemic-related effects and uncertainty remain, including a cooling of the market due to the continuation of China's zero-COVID policy. - FY2022-Q2Recovery in demand coexists with supply stagnationAnnual report
「Although supply of components stagnated due to the spread of COVID-19 in Southeast Asian countries, corporate capital investment remained firm. Personal consumption also showed signs of recovery against the backdrop of progress in vaccinations and other factors, but the timing of the economic recovery is expected to remain gradual because the outlook for bringing the pandemic under control is still uncertain, with the timing of recovery to pre-pandemic levels varying by industry, business type, and region.」
While capital investment and personal consumption showed signs of recovery, continued stagnation in the supply of components from Southeast Asia and uncertainty over when the pandemic will subside remain evident. - FY2022-Q1Some easing of business impact, but the pandemic takes longer to subsideAnnual report
「During the three months ended 30 June 2020, Japan's economy was affected by repeated declarations of a state of emergency. Personal consumption remained weak, although some recovery was seen in capital investment. Going forward, the prolonged time required to bring the pandemic under control is expected to result in a gradual economic recovery, with the timing of recovery to pre-pandemic levels varying by industry, business type, and region.」
While continuing to describe uncertainty caused by states of emergency and the prolonged time required to bring the pandemic under control, the company also indicates a recovery in capital investment and a reduction in the impact on individual businesses. - FY2021-Q3WorsenedAnnual report
「However, a renewed spread of COVID-19 was observed from November 2020, and the outlook remained uncertain.」
After a temporary recovery in economic activity and demand, the renewed spread of COVID-19 from November 2020 and the uncertain outlook were reported, indicating that the impact of the pandemic was continuing and expanding again. - FY2021-Q2MaterialisedAnnual report
「Japan's economy was in an extremely difficult situation during the six months ended 30 September 2020, as economic activity rapidly stagnated against the backdrop of the global spread of COVID-19, and the outlook remained uncertain.」
The stagnation of economic activity caused by the spread of COVID-19 continued, with the impact on performance becoming apparent in the six months ended 30 September 2020, including a 17.3% year-on-year decline in revenue and an 82.1% decline in operating profit. - FY2021-Q1First statedAnnual report
「In Japan, during the six months ended 30 June 2020, personal consumption and corporate activity deteriorated rapidly due to the spread of COVID-19. Overseas, economic activity was also restricted by lockdowns and business shutdowns imposed by various countries, resulting in an economic downturn. The outlook also remained uncertain. Against this backdrop, revenue for the three months ended 30 June 2020 was ¥6,402 million, down 22.3% year on year, operating profit was ¥27 million, down 90.3%, ordinary profit was ¥5 million, down 97.1%, and profit attributable to owners of the parent was ¥37 million, down 74.9%.」
The deterioration in personal consumption and corporate activity caused by the spread of COVID-19, lockdowns and business shutdowns overseas, and declining demand across the businesses occurred in practice, with quantifiable effects appearing in consolidated results.