Risk to Financial Results and Business Continuity from the Global COVID-19 Pandemic
First written in FY2020. 3 of 7 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025ReframedAnnual report
「The Group has operating bases in Japan and overseas, and its operations may be disrupted by natural disasters such as earthquakes, typhoons and tsunamis, epidemics, pandemics, terrorist acts and other criminal activity.」
The disclosure has been reorganised from a specific reference to COVID-19 into a description of general business continuity risks from major disasters, including epidemics and pandemics. - FY2023MitigatedAnnual report
「Partly due to the effects of vaccinations, the company expects the impact of COVID-19 on economic activity to gradually diminish going forward.」
The impact of the pandemic had previously emerged in sales and orders, but the company continues to expect it to gradually diminish as activity restrictions are eased, overseas sales recover and vaccinations take effect. - FY2022MitigatedAnnual report
「COVID-19, which emerged in January 2020, expanded to a scale far exceeding the Group's initial expectations. However, partly due to the effects of vaccinations, the company expects its impact on economic activity to gradually diminish going forward.」
Although COVID-19 actually affected business performance, the company stated its expectation that its impact on future economic activity would gradually diminish due to the effects of vaccinations. - FY2021MaterialisedAnnual report
「The Group's sales declined substantially in both the domestic and overseas markets as production activity slowed due to the global COVID-19 pandemic. (Actual sales by region: domestic, down 28.7% year on year; overseas, down 11.9%.)」
The slowdown in production activity caused by COVID-19 actually resulted in lower domestic and overseas sales for the full fiscal year. - FY2021-Q2MaterialisedAnnual report
「Although the impact of COVID-19 had recovered to a certain extent by the end of the fiscal year and a continued recovery trend was expected, the company assumed that the impact would continue from the fiscal year ending March 2022 onward because its impact on the fiscal year ending March 2021 was greater than initially expected. Based on the new assumptions, the company carefully examined the recoverability of deferred tax assets and the need for impairment of fixed assets, and consequently reversed ¥151 million of deferred tax assets and recorded the amount as deferred income taxes.」
The company changed its assumption to reflect that the impact of COVID-19 was greater than initially expected and would continue from the fiscal year ending March 2022 onward. Based on this assumption, it reversed ¥151 million of deferred tax assets, and the accounting impact emerged in the reported results. - FY2021-Q1MaterialisedAnnual report
「As economic activity stagnated due to the global spread of the novel coronavirus and other factors, the Group's order backlog stood at ¥509 million, down 62.1% year on year.」
The impact on the business of COVID-19, which was identified as a separate material risk in FY2020, actually emerged in the form of a substantial decline in order backlogs due to the slowdown in economic activity. - FY2020First statedAnnual report
「The Group has operating bases in Japan and overseas, and its operations may be disrupted by natural disasters such as earthquakes, typhoons and tsunamis, epidemics, pandemics, terrorist acts and other criminal activity.」
The company identified COVID-19 as a separate material risk, noting that it emerged in January 2020 and expanded to a scale far exceeding expectations, that its impact on the current fiscal year was limited, and that its impact on the following fiscal year was likely to be significant and remained uncertain.