Declining Demand and Impact on Business Operations Caused by COVID-19
First written in FY2021-Q1. 6 of 12 entries say "Mitigated", first in FY2021-Q3. Latest entry: FY2024.
The whole theme swung hardest in 2024: 1 of 6 companies on the "Worse" side.
5 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「The Japanese economy has continued its gradual recovery as economic activity has increasingly normalised following the reclassification of COVID-19 as a Category 5 infectious disease and the decline in infection risk, with personal consumption and inbound demand recovering and employment and income conditions improving.」
It explains that domestic economic activity, personal consumption, inbound demand, and employment and income conditions recovered as COVID-19 was reclassified to Category 5 and restrictions on activities were eased. - FY2024-Q1MitigatedAnnual report
「Japan's economy showed signs of a gradual recovery as personal consumption increased and inbound demand recovered after COVID-19 was reclassified as a Class 5 infectious disease and restrictions on movement were eased.」
It explains that domestic personal consumption and inbound demand recovered as COVID-19 was reclassified to Category 5 and restrictions on activities were eased. - FY2023-Q3MaterialisedAnnual report
「In Japan, the business had been on a recovery trend as restrictions on movement were eased through June 2022. However, the renewed spread of COVID-19 from July to September 2022 again constrained customers' hiring activity and delayed the acquisition of new projects, while a succession of absences among dispatched staff also occurred.」
Constraints on customers' hiring activity, delays in acquiring new projects, and absences among dispatched staff due to the renewed spread of infections affected the domestic WORK business in practice through delays in developing new projects. - FY2023-Q2MaterialisedAnnual report
「The renewed spread of COVID-19 from July to September 2022 again constrained customers' hiring activity and delayed the acquisition of new projects. In addition, a succession of absences among dispatched staff resulted in sluggish performance.」
The risk of infection affected performance in practice through constraints on customers' hiring activity in Japan, delays in acquiring new projects, absences among dispatched staff, and sluggish growth in the domestic WORK business. - FY2023-Q1MitigatedAnnual report
「In Japan, staffing and recruitment services both remained solid as restrictions on activities were eased. Overseas, entry restrictions and other measures were lifted in Singapore and Australia, where the company primarily operates, and the economy showed signs of recovery. As a result, demand for human resources increased, and staffing and recruitment services both remained solid.」
Demand for domestic and overseas staffing and recruitment services recovered as restrictions on movement and border controls were eased. However, weaker demand due to supply-chain disruptions remained in Japan's factory sector. - FY2022-Q3RestatedAnnual report
「In Japan, amid intermittent declarations of a state of emergency and other measures centered on the Tokyo metropolitan area, the non-telecommunications fields of the sales outsourcing sector and the factory outsourcing sector were affected by the spread of COVID-19, while the other sectors performed well. Overseas, in Singapore and Australia, where the Company mainly operates, measures such as lockdowns were implemented due to the spread of COVID-19, but labor demand remained strong, and both staffing and recruitment services performed well.」
It explains that although the impact of infections continued in some domestic sectors, staffing and recruitment services performed well in Singapore and Australia even under measures such as lockdowns. - FY2022-Q2RestatedAnnual report
「In Japan, amid intermittent declarations of a state of emergency centered on the Tokyo metropolitan area, the non-telecommunications fields of the sales outsourcing sector and the factory outsourcing sector were affected by the spread of COVID-19, while the other sectors performed well. Overseas, in Singapore and Australia, where the Company mainly operates, measures such as lockdowns were implemented due to the spread of COVID-19, but labor demand remained strong, and both staffing and recruitment services performed well.」
Although the impact of infections continued in some domestic sectors, staffing and recruitment services performed well overseas, partly mitigating the impact. - FY2022-Q1MitigatedAnnual report
「Overseas, in Singapore and Australia, where the Company mainly operates, staffing and recruitment services both performed well as customers resumed hiring activity that had been constrained after the spread of COVID-19 was brought under control.」
Although the impact of infections continued in Japan's non-telecommunications sales fields and factory sector, customers resumed hiring activity overseas, resulting in some mitigation of the impact. - FY2021MitigatedAnnual report
「The Company maintained multiple category-focused business portfolios in relatively stable business sectors, enabling it to limit the impact of the spread of COVID-19.」
It explains that although weaker demand continued in some domestic sectors, the impact on consolidated performance was limited by multiple category-focused portfolios. - FY2021-Q3MitigatedAnnual report
「Under these circumstances, the Company's group maintained multiple category-focused business portfolios in relatively stable business sectors, enabling it to limit the impact of COVID-19.」
Although the impact of COVID-19 on Japan's sales and factory sectors remained, the Company's multiple category-focused portfolios limited the impact on consolidated performance, and it also reported containment of infections and a recovery in demand overseas. - FY2021-Q2MaterialisedAnnual report
「In Japan, the state of emergency was lifted in late May, and economic activity gradually resumed with infection-control measures in place. Although the sales outsourcing and factory outsourcing sectors were affected by the spread of COVID-19, the other sectors performed well. Overseas, economic activity resumed more slowly in Singapore and Australia, where the Company mainly operates, than in Japan, but staffing services, which benefit from stable demand, performed well.」
The impact of COVID-19 continued to be reflected in the results through weaker demand in Japan's sales and factory sectors, delayed overseas economic reopening, and lower demand for recruitment services. It explains that the impact was kept limited through a diversified business portfolio. - FY2021-Q1First statedAnnual report
「During the first three months of the current fiscal year, Japan's economy remained in a severe condition as the global spread of COVID-19 caused economies around the world to slow sharply, while the government's declaration of a state of emergency caused economic activity to stagnate significantly.」
The results reflected weaker demand in the domestic factory and apparel sectors, lower overseas demand for recruitment services, and a decline in gross profit due to increased paid leave taken by staff and leave compensation. In light of a renewed spread of infections and other factors, the impact is being conservatively estimated.