Sharp Decline in Orders and Impact on Business Performance Due to COVID-19
First written in FY2020. 5 of 16 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024MitigatedAnnual report
「Economic activity continued to normalize as restrictions on movement related to COVID-19 were eased.」
Restrictions on movement related to COVID-19 were eased and economic activity normalized, with the severe economic constraints caused by the pandemic moving toward mitigation. However, differences in the pace of order recovery remain among individual industries. - FY2024-Q3RestatedAnnual report
「Economic activity continued to normalize as restrictions on movement related to COVID-19 were eased.」
The easing of restrictions on movement related to COVID-19 and the normalization of economic activity continue to be reported. - FY2024-Q2RestatedAnnual report
「Economic activity continued to normalize as restrictions on movement related to COVID-19 were eased.」
The easing of restrictions on movement related to COVID-19 and the normalization of economic activity continue to be reported. - FY2024-Q1MitigatedAnnual report
「Economic activity continued to normalize as restrictions on movement related to COVID-19 were eased.」
It states that restrictions on movement related to COVID-19 were eased and economic activity normalized. However, order recovery remains delayed in certain industries. - FY2023-Q3RestatedAnnual report
「Revenue from heat-treatment contract processing declined year on year as the business struggled with continued intermittent production stoppages in the automotive industry and was unable to offset this weakness with orders from the construction-equipment and machine-tool industries, where orders remained firm.」
Even amid the recovery following the spread of COVID-19, intermittent production stoppages in the automotive industry continued to affect results through sluggish order growth and lower sales. - FY2023-Q2RestatedAnnual report
「Revenue from heat-treatment contract processing declined year on year as the business struggled with continued intermittent production stoppages in the automotive industry and was unable to offset this weakness with orders from the construction-equipment and machine-tool industries, where orders remained firm.」
Even amid the recovery following the spread of COVID-19, intermittent production stoppages in the automotive industry continued to affect results through sluggish order growth and lower sales. - FY2023-Q1Orders stagnate as vehicle production halts despite the recovery trendAnnual report
「Revenue from heat-treatment contract processing declined year on year. Orders from the construction-equipment and machine-tool industries remained firm, but orders failed to grow due in part to the impact of intermittent production stoppages in the automotive industry.」
Although socioeconomic activity affected by the pandemic is showing signs of recovery, intermittent production stoppages in the automotive industry have resulted in sluggish order growth. - FY2022Uncertainty from variants and lockdowns persists despite the recoveryAnnual report
「The outlook remains difficult to assess due to the threat of new COVID-19 variants and the impact of China's lockdowns on production and logistics.」
Orders from the major industries recovered and results improved, but the risk of production and logistics disruptions from new variants and China's lockdowns persists. - FY2022-Q3MitigatedAnnual report
「Revenue from heat-treatment contract processing increased year on year as orders from industries including automotive, machine tools and construction equipment recovered.」
The production cuts and decline in orders at major business partners associated with COVID-19 were followed by a recovery in orders from the major industries, which resulted in higher net sales. - FY2022-Q2MitigatedAnnual report
「Revenue from heat-treatment contract processing increased year on year as orders from industries including automotive, machine tools and construction equipment recovered.」
The production cuts and decline in orders at major business partners associated with COVID-19 were followed by a recovery in orders from the major industries, which resulted in higher net sales. - FY2022-Q1MitigatedAnnual report
「Revenue from heat-treatment contract processing increased substantially year on year as orders from key industries, including automotive, machine tools and construction equipment, recovered.」
The production cuts and decline in orders at major business partners associated with the spread of COVID-19 were followed by a recovery in orders from the major industries during the quarter, which resulted in a substantial increase in net sales. - FY2021Decline in first-half orders and recovery in the second halfAnnual report
「Orders recovered steadily from the second half of the fiscal year, but the impact of the decline in orders caused by COVID-19 in the first half was significant.」
The decline in orders from major customers caused by COVID-19 affected full-year results, while orders recovered steadily in the second half of the year. - FY2021-Q3Continued first-half impact and recovery in second-half ordersAnnual report
「The Group’s orders declined sharply in the first half of the nine-month cumulative period as it was affected by production cuts at major business partners, including those in the automotive industry, amid the global spread of the COVID-19 pandemic, but orders steadily recovered in the second half.」
The production cuts at major business partners and the sharp decline in orders in the first half caused by the pandemic remained in effect, but orders steadily recovered in the latter half of the cumulative period, according to the disclosure. - FY2021-Q2MaterialisedAnnual report
「The Group’s orders have declined as it has been affected by production cuts at major business partners, including those in the automotive industry, amid the global spread of the COVID-19 pandemic.」
The impact of the COVID-19 pandemic continues to materialise in the form of production cuts by major business partners and declining orders. The company states that there have been no significant changes to the accounting assumptions relating to the pandemic’s impact. - FY2021-Q1MaterialisedAnnual report
「The Group’s orders have declined as it has been affected by production cuts at major business partners, including those in the automotive industry, amid the global spread of the COVID-19 pandemic.」
The impact of the COVID-19 pandemic, identified as a major risk in the previous fiscal year, has materialised in the form of production cuts by major business partners and declining orders. The company states that there have been no significant changes to the assumptions used in its accounting estimates. - FY2020First statedAnnual report
「The COVID-19 pandemic is spreading worldwide, and its end remains difficult to foresee. If the negative impact of the pandemic on the global economy is prolonged and orders from major customers decline more than expected, the relative burden of fixed costs, including personnel expenses and depreciation, will increase, potentially having a significant impact on the Group’s business performance. In addition, if the recovery of funds invested in capital expenditures is delayed, this could lead to the recognition of impairment losses.」
The COVID-19 pandemic was identified for the first time as a standalone major risk, with the disclosure describing uncertainty over when it will end, declining orders from major customers, the fixed-cost burden, delays in recovering capital expenditures and the potential knock-on effect of impairment losses.