Operational shutdowns and lower-than-expected performance due to COVID-19
First written in FY2020. 8 of 14 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025SoftenedAnnual report
「If a natural disaster such as an earthquake, typhoon or flood, an accident such as a fire or power outage, or an infectious disease occurs, equipment failures or damage at manufacturing sites may result in additional costs, and the inability to maintain an optimal supply chain may affect the Group's business performance and financial condition.」
The disclosure has been generalized from specifically citing COVID-19 to covering disaster and accident risks, including infectious diseases in general. - FY2023RestatedAnnual report
「The global spread of COVID-19 affected the Group's production activities through lower order volumes resulting from customers' operating conditions and temporary suspension of operations due to lockdowns at the Group's manufacturing sites.」
The impact of lower orders and suspended operations due to COVID-19 is recorded as an actual result, while the difficulty of forecasting the impact of a renewed spread continues to be disclosed. - FY2023-Q3RestatedAnnual report
「Although the suspension-spring business was affected by production adjustments at automakers due to semiconductor shortages and other factors, sales increased to ¥106,326 million, up 29.7% year on year, due to a recovery from the impact of the COVID-19 pandemic, the pass-through of higher raw material prices and other costs into selling prices, and an increase in the yen-converted amounts of overseas subsidiaries resulting from yen depreciation.」
The disclosure continues to describe a recovery from the impact of COVID-19, while the effects of automakers' production adjustments due to semiconductor shortages remain. - FY2023-Q2RestatedAnnual report
「Although the Seat business was affected by automakers' production adjustments due to semiconductor shortages and other factors, higher raw material, logistics, power and utility costs, and other factors, net sales were ¥124,748 million, up 26.8% year on year, due to a recovery from the impact of the spread of COVID-19 and an increase in the yen value of overseas subsidiaries' results due to the yen's depreciation. Operating income was ¥2,596 million, compared with an operating loss of ¥1,876 million in the same period of the previous year.」
The disclosure describes a recovery from the impact of COVID-19, while the effects of production adjustments due to semiconductor shortages and higher material, logistics and energy costs remain. - FY2023-Q1RestatedAnnual report
「Although the Suspension Springs business has been affected by automakers' production adjustments due to semiconductor shortages and other factors, signs of a recovery from the impact of the spread of COVID-19 have been seen.」
The disclosure describes a recovery from the impact of COVID-19, while the effects of automakers' production adjustments due to semiconductor shortages and other factors remain. - FY2022RestatedAnnual report
「The global spread of COVID-19 has affected the Group's production activities through lower order volumes resulting from customers' operating conditions and temporary suspension of operations due to lockdowns at the Group's manufacturing sites.」
While the risks of lower orders and suspended operations due to COVID-19 continue to be disclosed, it is also explained that conditions in some regions are approaching pre-pandemic levels. - FY2022-Q3RestatedAnnual report
「Although a recovery from the impact of the spread of COVID-19 has been seen, production adjustments by automakers have been affected by semiconductor shortages and shortages of components caused by the spread of COVID-19 in Southeast Asian countries and elsewhere.」
The coexistence of a recovery from the impact of COVID-19 and automakers' production adjustments due to semiconductor and component shortages continues. - FY2022-Q2Recovery and supply constraints coexistAnnual report
「Although a recovery from the impact of the spread of COVID-19 has been seen, production adjustments by automakers have been affected by semiconductor shortages and shortages of components caused by the spread of COVID-19 in Southeast Asian countries and elsewhere.」
While a recovery from the impact of COVID-19 has been seen, automakers' production adjustments due to semiconductor and component shortages continue, with both the recovery and the remaining effects disclosed. - FY2022-Q1MitigatedAnnual report
「In the automotive-related markets, the Group's main business area, automobile production in Japan was 1,836 thousand units, up 47.7% year on year. In North America, comprising the United States and Canada, production was 2,422 thousand units, up 128.6%; in China, it was 5,795 thousand units, up 65.2%; and in Thailand, it was 391 thousand units, down 13.4%. In each case, the figures were compiled according to the fiscal year-end of each site.」
Despite the impact of COVID-19, automobile production in Japan, North America and China increased year on year, indicating a recovery from the substantial declines across all regions in the previous year. In Thailand, however, the decline continued. - FY2021RestatedAnnual report
「The global spread of COVID-19 has affected the Group's production activities through lower order volumes resulting from customers' operating conditions and temporary suspension of operations due to lockdowns at the Group's manufacturing sites.」
The risks of lower orders, suspension of operations at overseas sites and the impact on production activities continue to be disclosed as full-year risks. - FY2021-Q3RestatedAnnual report
「The Suspension Springs business was significantly affected by lower orders resulting from production adjustments following automakers' suspension of operations and weak demand due to the spread of COVID-19. Net sales were ¥70,645 million, down 25.7% year on year, and the operating loss was ¥5,935 million, compared with operating income of ¥1,409 million in the same quarter of the previous year.」
The effects of automakers' suspension of operations, weak demand and production adjustments due to COVID-19 continue to materialize, resulting in lower sales and an operating loss in the Suspension Springs business. - FY2021-Q2MaterialisedAnnual report
「Fixed costs incurred during periods when certain overseas consolidated subsidiaries suspended operations at the request of governments and other authorities to prevent the spread of COVID-19 were recorded as non-operating expenses.」
The suspension of operations at overseas consolidated subsidiaries due to COVID-19 continued, and ¥297 million in fixed costs was actually recorded as non-operating expenses. The disclosure also notes lower automobile production and operating losses in each automotive-related segment. - FY2021-Q1MaterialisedAnnual report
「In the automotive market, one of the Group’s principal business areas, domestic vehicle production declined 47.0% year on year to 1,243 thousand vehicles. Production in North America (the United States and Canada) declined 68.3% to 1,059 thousand vehicles, production in China declined 44.2% to 3,507 thousand vehicles, and production in Thailand declined 19.6% to 451 thousand vehicles.」
The impact of COVID-19 on operations and demand has materialized not only as lower sales at the U.S. and European sites, but also as a substantial decline in automobile production in Japan, North America, China and Thailand, and operating losses across all business segments. - FY2020MaterialisedAnnual report
「In the US and Europe, adjustments to customer operating levels due to lockdowns began in mid-March 2020. As a result, sales at the Group's US and European sites in March 2020 were approximately 30% below expectations.」
The Company reported that lockdowns associated with COVID-19 and adjustments to customer operating levels had occurred, reducing March 2020 sales at its US and European sites by approximately 30% versus expectations.