Greater Economic Uncertainty Resulting from COVID-19
First written in FY2020-Q2. 7 of 20 entries say "Softened", first in FY2022-Q1. Latest entry: FY2025-H1.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025-H1DroppedAnnual reportThe current filing contains no explicit disclosure of the economic uncertainty caused by COVID-19 that was described in the previous filing.
- FY2024SoftenedAnnual report
「Following the transition of COVID-19 to Category 5, the economy showed a gradual recovery as economic normalization progressed, supported by increased movement of people and stronger inbound tourism.」
Regarding the economic impact of COVID-19, the disclosure describes increased movement of people, stronger inbound tourism and economic normalization following the transition to Category 5, softening the language. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter, the impact of COVID-19 had eased and economic activity was expected to normalize, but the outlook remained uncertain due to higher energy and raw material prices resulting from the prolonged Russian invasion of Ukraine, as well as further price increases caused by the weaker yen.」
While continuing to state that the impact of COVID-19 has waned, the disclosure also presents expectations for the normalization of economic activity alongside uncertainty arising from the external environment. - FY2024-Q2SoftenedAnnual report
「During the cumulative second quarter, the impact of COVID-19 had eased, economic activity was moving toward normalization and the economy was on a recovery trend, but the outlook remained uncertain due to exchange-rate fluctuations and soaring energy prices.」
The impact of COVID-19 is waning, and normalization and recovery in economic activity are indicated. The language concerning the economic impact of the infection has softened compared with the previous filing. - FY2024-Q1SoftenedAnnual report
「In Japan, the impact of COVID-19 has declined, and normalization of socioeconomic activity and further recovery are expected.」
The language has softened to state that the impact of COVID-19 has declined and that socioeconomic activity is expected to normalize and recover further. - FY2023SoftenedAnnual report
「During the current fiscal year, the Japanese economy showed signs of a gradual recovery as the impact of COVID-19 eased and social activity moved toward normalization.」
The disclosure describes the easing impact of the infection and the normalization of social activity, softening the language concerning the impact on the economy compared with the previous fiscal year. The risk of business restrictions due to a resurgence continues to be disclosed in the risk section. - FY2023-Q3SoftenedAnnual report
「During the cumulative third quarter, the impact of COVID-19 had eased and economic activity was expected to normalize, but the outlook remained uncertain due to higher energy and raw material prices resulting from the prolonged Russian invasion of Ukraine, as well as further price increases caused by the weaker yen.」
While the language has softened to state that the impact of COVID-19 is waning and that economic activity is expected to normalize, uncertainty about the outlook continues. - FY2023-Q2SoftenedAnnual report
「During the cumulative second quarter, economic activity was moving toward normalization and showed some signs of recovery as the impact of COVID-19 continued, but the outlook remained uncertain due to downside risks to overseas economies against a backdrop of global monetary tightening and soaring energy prices resulting from the prolonged Russian invasion of Ukraine.」
Although the impact of COVID-19 continues, the disclosure describes the normalization of economic activity and a degree of recovery, softening the previous emphasis on restrictions on economic activity. New external risks are disclosed separately. - FY2023-Q1RestatedAnnual report
「The economy remained in difficult conditions as economic activity was again restricted amid the spread of the Omicron variant.」
The disclosure continues to describe restrictions on economic activity due to the spread of the Omicron variant and uncertainty about the outlook caused by COVID-19. - FY2022WorsenedAnnual report
「During the current fiscal year, the Japanese economy showed signs of a temporary recovery due to various policies addressing COVID-19 and the wider availability of vaccinations, but remained in difficult conditions as economic activity was again restricted amid the spread of the Omicron variant.」
The disclosure describes a recovery supported by vaccinations and other factors, alongside the renewed restriction of economic activity due to the spread of the Omicron variant. - FY2022-Q3Progress in vaccinations and new sources of concernAnnual report
「Although progress in vaccinations against COVID-19 and the effects of various government policies have created expectations for a full-scale resumption of economic activity and economic revitalization, the outlook for the domestic and overseas economies remains uncertain due to the presence of variants and social instability in Russia and Ukraine.」
While indicating expectations for progress in vaccinations and the resumption of economic activity, the disclosure identifies the risk of infection from variants and social instability in Russia and Ukraine as new sources of uncertainty. - FY2022-Q2RestatedAnnual report
「Although there have been moves toward a phased reopening of economic activity in Japan and overseas, the number of new COVID-19 cases has recently begun to increase again, and the outlook remains uncertain.」
Although economic activity is beginning to reopen, uncertainty caused by COVID-19 persists due to the renewed increase in the number of new cases. - FY2022-Q1SoftenedAnnual report
「During the cumulative first quarter, the Japanese economy remained significantly affected by COVID-19 and, although it was on a recovery track, lacked strength. As vaccinations progressed, the number of new cases gradually declined and conditions emerged in which economic activity was expected to pick up, but the outlook remained uncertain.」
Although the impact of the infection and uncertainty about the outlook persist, the disclosure describes progress in vaccinations, a decline in the number of new cases and a trend toward economic recovery. - FY2021WorsenedAnnual report
「During the fiscal year, economic activity in Japan was significantly restricted due to the spread of COVID-19. Although economic activity was gradually being resumed in Japan and overseas, concerns including the rapid spread of variants and delays in vaccine distribution remained, and the outlook was still uncertain.」
In addition to restrictions on economic activity caused by the infection, the disclosure identifies the rapid spread of variants and delays in vaccine distribution as new concerns. - FY2021-Q3RestatedAnnual report
「Although there have been moves toward a phased reopening of economic activity in Japan and overseas, the number of new COVID-19 cases has recently begun to increase again, and the outlook remains uncertain.」
Although economic activity is beginning to reopen, uncertainty caused by COVID-19 persists due to the renewed increase in the number of new cases. - FY2021-Q2RestatedAnnual report
「Although there have been moves toward a phased reopening of economic activity in Japan and overseas, the number of new COVID-19 cases has recently begun to increase again, and the outlook remains uncertain.」
Although economic activity is beginning to reopen, uncertainty caused by COVID-19 persists due to the renewed increase in the number of new cases. - FY2021-Q1WorsenedAnnual report
「Although vaccine development is progressing, the number of new COVID-19 cases has recently begun to increase again, and the outlook remains uncertain.」
The disclosure states that the number of new COVID-19 cases is again trending upward, indicating that the risk of increasing economic uncertainty due to the infection persists. - FY2020MaterialisedAnnual report
「However, if a resurgence of the infection restricts the business activities of real estate companies that are our customers, our business activities may also be restricted. In addition, if the downturn in economic conditions that has continued since March, due to the uncertain outlook, causes customers’ operating conditions to deteriorate further, transactions may be suspended, which could affect the financial condition and operating results of our Group. / Advertising Listing Services declined due to the spread of COVID-19.」
The disclosure specifies the possibility that a resurgence of the infection could restrict customers’ business activities and result in suspended transactions, and states that Advertising Listing Services declined due to the spread of the infection. - FY2020-Q3WorsenedAnnual report
「In addition, the increase in the consumption tax rate and the widespread impact of COVID-19 have been significant, leaving the outlook uncertain.」
The disclosure states that the impact of the spread of COVID-19 has been significant, strengthening the language identifying it as a factor contributing to uncertainty about the economic outlook. - FY2020-Q2First statedAnnual report
「In addition, the outlook remains uncertain due to the increase in the consumption tax rate and the impact of COVID-19.」
The impact of COVID-19 is explicitly identified for the first time as a factor contributing to uncertainty about the economic outlook.