Impact on Demand and Business from the Spread of COVID-19
First written in FY2020-Q3. 6 of 16 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2026RestatedAnnual report
「A renewed spread of COVID-19 or the emergence of another new infectious disease could make it difficult to continue operations.」
It continues to identify business-continuity risks from the renewed spread of COVID-19 and new infectious diseases, with appropriate personnel allocation through multiskilling presented as a response measure. - FY2024-Q3MitigatedAnnual report
「During the nine months ended 31 December, restrictions on social and economic activity caused by COVID-19 were largely eased, but the impact of global monetary tightening and concerns over the outlook for the Chinese economy remain risks that could weigh on the Japanese economy,」
It states that restrictions on social and economic activity caused by COVID-19 have been "largely eased," indicating a shift away from the previous deterioration in the business environment caused by the infection. However, it does not state that the impact of the infection has been completely eliminated. - FY2024-Q1MitigatedAnnual report
「As the impact of COVID-19 has weakened and the economy has remained on a recovery track, the outlook remains uncertain due to risks of an economic downturn from higher resource prices accompanying the prolonged Russia-Ukraine conflict, concerns over an economic slowdown in China and monetary tightening in Europe and the United States.」
The description has changed to state that the impact of COVID-19 has weakened and that the economy is continuing on a recovery trend. However, it does not state that the impact of the infection has been eliminated. - FY2023-Q3MitigatedAnnual report
「During the nine months ended 31 December, restrictions on social and economic activity imposed due to COVID-19 were eased, and signs of an economic recovery emerged.」
The description has changed to state that restrictions on social and economic activity caused by the infection were eased and signs of an economic recovery emerged. However, it does not state that the impact of the infection has been eliminated. - FY2023-Q2RestatedAnnual report
「During the six months ended 30 September, the Japanese economy was on a gradual recovery trend toward reopening from the stagnation of economic activity caused by COVID-19. However, various adverse effects have become apparent, including geopolitical risks from the Russia-Ukraine conflict, stagnant production activity due to semiconductor component shortages, broad-based price increases, and an economic slowdown caused by global monetary tightening, leaving the outlook uncertain.」
While continuing to describe the economy as being on a gradual recovery trend from the stagnation of economic activity caused by the infection, it does not state that the impact of the infection has been eliminated and notes that the outlook remains uncertain. - FY2023-Q1MitigatedAnnual report
「During the three months ended 30 June, the Japanese economy was moving toward normalization through measures against COVID-19 and various government policies. However, soaring resource prices resulting from the prolonged Russia-Ukraine conflict, the impact of restrictions on economic activity in China, and policy rate hikes accompanying accelerating inflation in Europe and the United States caused a sharp depreciation of the yen and soaring energy prices, slowing the pace of economic recovery and leaving the outlook uncertain.」
It describes the normalization of economic activity through infection-control measures and various government policies as an improvement factor. However, it does not state that the risks have been eliminated, as the transportation business continues to be affected by the infection. - FY2022WorsenedAnnual report
「Although the effects of vaccinations and the development of medicines are expected, the situation remains difficult to assess as repeated outbreaks of variants continue, making it difficult to foresee when the pandemic will be contained.」
It states that, while expressing expectations for vaccines and medicines, repeated outbreaks of variants continue and it remains difficult to foresee when the pandemic will be contained. It also mentions an increase in infections caused by the seventh wave in the business environment. - FY2022-Q3WorsenedAnnual report
「As restrictions on and easing of economic activity were repeated in line with increases and decreases in COVID-19 cases, signs of a gradual recovery emerged, but a new variant, the Omicron variant, spread and nationwide priority preventive measures were implemented.」
In addition to restrictions on and easing of economic activity in line with changes in the number of infections, it cites the spread of the Omicron variant and nationwide priority preventive measures, stating that uncertainty caused by the infection is continuing and intensifying. - FY2022-Q2RestatedAnnual report
「During the six months ended 30 September, the Japanese economy was expected to recover as economic and social activity moved toward normalization, with infections remaining low due to the wider availability of vaccines and thorough implementation of various infection-control measures. However, concerns have increased over downside risks from global supply-chain disruptions and soaring raw-material prices and electricity charges, and adverse effects such as stagnant production activity have become apparent, leaving the outlook uncertain.」
While indicating expectations for economic normalization through vaccinations and infection-control measures, it states that the impact of the infection is prolonged and that the outlook remains uncertain. - FY2022-Q1RestatedAnnual report
「In Japan, the proportion of people who have completed 2 vaccine doses has reached 6割, raising expectations that the spread of infection will subside. However, despite high vaccination rates overseas, there have been cases in which infections have resurged after economies reopened. The outlook for when the pandemic will subside and economic conditions will recover therefore remains uncertain.」
Although it indicates expectations that progress in domestic vaccinations will help contain the pandemic, the impact of the infection, renewed spread overseas, and uncertainty over when the pandemic will be contained and economic conditions recover continue. - FY2021WorsenedAnnual report
「Although the effects of vaccination are expected to become apparent, the threat of variants is increasing, making it difficult to foresee when the COVID-19 pandemic will be contained, and this situation continues.」
It additionally notes that the impact of the infection is continuing, along with the threat from variants and uncertainty over when the pandemic will be contained. For accounting purposes, it assumes that the impact will continue for approximately one year through the fiscal year ending June 2022. - FY2021-Q3WorsenedAnnual report
「However, suppliers are experiencing a delayed recovery, and a third wave of COVID-19 infections arrived around the year-end and New Year holidays, leading to the issuance of a second state of emergency. As a result, production activity stagnated again and demand declined, making corporate earnings difficult. In Japan, where vaccination has been delayed, the outlook for containing the pandemic and recovering economic activity remains uncertain.」
It states that the third wave of infections and the second state of emergency again caused stagnation in production activity, declining demand, and difficult corporate earnings. It also additionally indicates delayed recovery among suppliers, delayed vaccinations, and uncertainty over containment of the pandemic and economic recovery. - FY2021-Q2WorsenedAnnual report
「However, the spread of COVID-19 began again in the second quarter, and corporate earnings and employment conditions remain difficult due to stagnant production activity and slowing demand, with the outlook continuing to be uncertain.」
The renewed spread of the infection has caused production activity to stagnate and demand to slow, with the impact continuing and intensifying in the form of lower revenue in the 2 core businesses, the metal heat-treatment processing business becoming loss-making, and a substantial decline in profit in the transportation business. - FY2021-Q1WorsenedAnnual report
「Economic activity stagnated due to the impact of COVID-19, leaving the economy in an extremely difficult situation. Although signs of a recovery have emerged in some areas, the Company has not yet reached the point of being affected by them, and the outlook is expected to remain uncertain.」
The impact of the infection has continued and intensified beyond the stagnation of economic activity, taking the form of declining core orders, lower revenue in both businesses, increased losses in the metal heat-treatment processing business, and the transportation business turning loss-making. - FY2020MaterialisedAnnual report
「During the current consolidated fiscal year, orders related to industrial machinery and automotive parts declined as a result of the direct and indirect effects of the spread of COVID-19. This forced some business locations to suspend or curtail operating activities, and performance deteriorated compared with ordinary years.」
It explicitly states that core orders declined due to the impact of COVID-19, operating activities and other operations at some business sites stagnated, and full-year results deteriorated. It assumes that the impact will continue for approximately one year through the fiscal year ending June 2021, and also notes the possibility of increased fixed-cost burdens, delays in recovering funds invested in equipment, and impairment losses. - FY2020-Q3First statedAnnual report
「Furthermore, the outlook remained uncertain due to the COVID-19 pandemic, including a downturn in domestic consumption, a decline in inbound demand and lower exports, particularly to China.」
The Company has for the first time identified the COVID-19 pandemic as an independent factor affecting its business. While its impact on domestic consumption, inbound demand, exports including to China, and orders from key customer industries has already appeared in the earnings discussion, many aspects of its impact on business and other areas remain uncertain, and the Company states that it will closely monitor developments.