Business Impact of the COVID-19 Pandemic
First written in FY2019. 5 of 15 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2025-H1.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025-H1RestatedAnnual report
「If the number of expatriates and overseas travelers falls sharply because of a recession in Japan or overseas, a rapid depreciation of the yen, political instability or deteriorating public safety overseas, regional conflicts, war, surging airfares, or a pandemic or epidemic such as the recent novel coronavirus outbreak, the number of assistance services provided may decline, potentially affecting the Group’s results.」
The filing continues to disclose the risk that factors including a pandemic such as COVID-19 could cause a sharp decline in the number of expatriates and overseas travelers, affecting the number of assistance services provided and earnings. - FY2024-H1MitigatedAnnual report
「Although travel between Japan and other countries has normalized and the number of people traveling overseas is trending upward, it has not yet fully recovered to pre-COVID-19 levels.」
Restrictions on travel and the business impact of COVID-19 are easing as travel normalizes and the number of overseas travelers increases, but a full recovery to pre-pandemic levels has not yet been achieved. - FY2023MitigatedAnnual report
「Looking ahead to the social environment in fiscal 2024, social and economic activity is expected to be revitalized globally in the with-COVID environment.」
The outlook has shifted from continued restrictions on economic activity due to COVID-19 to expectations for the global revitalization of social and economic activity in the with-COVID environment. - FY2022MitigatedAnnual report
「Looking ahead to the social environment in fiscal 2023, the number of people infected with the novel coronavirus is expected to continue fluctuating rather than fall to zero. However, the likelihood of economic restrictions continuing as before is low, and social and economic activity is expected to be revitalized globally as society moves into the post-COVID era.」
While acknowledging the possibility that the impact of the infectious disease may persist, the Company now expects a low likelihood of economic restrictions continuing as before and the revitalization of social and economic activity globally as society moves into the post-COVID era. - FY2022-Q3RestatedAnnual report
「The Company also anticipates the possibility that the impact of the global spread of COVID-19 may continue for an extended period, in which case there is a risk that the adverse effect on the Group’s results will continue.」
Although conditions are moving toward normalization, including the easing of entry restrictions, the filing continues to identify the prolonged impact of COVID-19 and the possibility of continued adverse effects on earnings as risks. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan’s economy was expected to recover as economic and social activity moved toward normalization through measures to prevent COVID-19 and supported by the effects of various policies and an improvement in overseas economies. However, severe conditions continued because of the escalating situation in Ukraine and surging resource and energy prices resulting from the rapid depreciation of the yen.」
Although economic and social activity is moving toward normalization, the filing continues to describe a challenging business environment caused by the infectious disease, the situation in Ukraine, the rapid depreciation of the yen, and surging resource and energy prices. - FY2021WorsenedAnnual report
「In 2021, more countries began easing entry restrictions and restrictions on activities after entry as vaccinations became more widespread worldwide. In November, however, following the emergence of a new variant, Omicron, multiple countries and regions moved to tighten entry restrictions and post-entry activity restrictions again. Under these conditions, the Group’s existing businesses, including its medical assistance services bundled with overseas travel insurance and its inbound business, which are its main businesses, continued to languish.」
Although restrictions were eased as vaccinations progressed, they were tightened again because of the Omicron variant, and the downturn in existing businesses continued throughout the fiscal year. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, vaccinations against COVID-19 progressed in countries, particularly developed countries, but the outlook remained uncertain, partly because of the spread of highly transmissible variants.」
Although vaccinations have progressed, uncertainty regarding the economic and business impact of the spread of variants continues. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy remained sluggish, with corporate earnings declining significantly and employment conditions deteriorating as a result of the spread of COVID-19. Restrictions on going out and travel restrictions also continued to be imposed in countries around the world, despite vaccinations having progressed in some countries and regions.」
Although vaccinations have progressed in some regions, deteriorating corporate earnings and employment conditions, sluggish economic activity, and restrictions on going out and travel continue, leaving uncertainty regarding the business impact of COVID-19. - FY2021-Q1RestatedAnnual report
「The Group’s core business is the provision of assistance services mainly to expatriates and people traveling overseas. Accordingly, if the number of expatriates and overseas travelers falls sharply because of a recession in Japan or overseas, a rapid depreciation of the yen, political instability or deteriorating public safety overseas, regional conflicts, war, surging airfares, or a pandemic or epidemic such as the recent novel coronavirus outbreak, the number of assistance services provided may decline, potentially affecting the Group’s results.」
The risk that a pandemic, including COVID-19, could cause a sharp decline in the number of expatriates and overseas travelers and affect earnings continues to be disclosed. - FY2020WorsenedAnnual report
「Looking ahead to the Group’s business environment, there is still no clear end in sight to the spread of COVID-19. Calls for people to refrain from going out and lockdowns continue overseas, and travel between Japan and other countries remains restricted. Under these conditions, it is difficult to foresee when the COVID-19 pandemic will end, and uncertainty continues regarding when travel between Japan and other countries will resume and on what scale.」
Regarding the business impact of COVID-19, the Company states explicitly that there is no clear outlook for when the pandemic will subside, when travel will resume or on what scale, and that the deterioration in earnings may continue for an extended period. - FY2020-Q3WorsenedAnnual report
「It is not currently possible to accurately assess the future spread of the novel coronavirus, policy trends in Japan and overseas, or the associated movement of people.」
Uncertainty remains regarding the future course of a resurgence of the infectious disease, policy trends and the movement of people, with the uncertainty surrounding the business impact stated even more explicitly. - FY2020-Q2WorsenedAnnual report
「For the Group’s main business, medical assistance services, the decline in the number of people traveling abroad and inbound visitors to Japan is a significant negative factor. However, the impact is expected to become pronounced from the second quarter of the fiscal year onward.」
The filing states that the decline in the number of people traveling abroad and inbound visitors to Japan due to COVID-19 is expected to become a pronounced negative factor from the cumulative second quarter onward. Additional information states that accounting estimates were prepared on the assumption that the impact of the infectious disease would gradually subside and conditions recover toward the end of the fiscal year. - FY2020-Q1MaterialisedAnnual report
「For the Group’s main business, medical assistance services, the decline in the number of people traveling abroad and inbound visitors to Japan is a significant negative factor. However, the impact is expected to become pronounced from the second quarter of the fiscal year onward.」
The spread of COVID-19 has led to an actual decline in the number of people traveling abroad and inbound visitors to Japan, creating a significant negative factor for the main business. The Company expects the impact on earnings to become pronounced from the second quarter onward. - FY2019First statedAnnual report
「In addition to the business conditions described above, the widespread outbreak of the novel coronavirus that emerged from the latter half of January this year is beginning to have a serious impact on people’s lives and economic activity and may significantly affect the business of our Group. We will carefully assess the impact going forward, review our plans as appropriate and implement the measures required.」
The widespread outbreak of the novel coronavirus has emerged as a risk, and the potential impact on people’s lives, economic activity and the Group’s business is stated for the first time.