Deterioration in Economic Conditions and Business Performance Due to COVID-19
First written in FY2020-Q2. 9 of 15 entries say "Mitigated", first in FY2021-Q1. Latest entry: FY2023.
The whole theme swung hardest in 2020: 112 of 175 companies on the "Worse" side.
56 other companies' latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「We expect the transition to a post-COVID period, in which economic conditions are no longer affected by infection levels, to contribute to an economic recovery, as COVID-19 was reclassified as a Category 5 disease under the Infectious Diseases Act in May 2023.」
It was explained that, as the transition to Category 5 and the post-COVID period progressed, the risk of an economic downturn and deterioration in business performance caused by infectious diseases eased further. However, the possibility of an impact if infections spread again remains. - FY2023-Q3MitigatedAnnual report
「During the third-quarter cumulative period, Japan's economy continued to recover gradually as the transition to a post-pandemic period progressed, in which economic conditions were less affected by infection levels, including through the reclassification of COVID-19 under the Infectious Diseases Control Law from Category 5 in May 2023.」
It was explained that, as COVID-19 moved to Category 5 and the transition to the post-COVID period progressed, the risk of an economic downturn and deterioration in business performance caused by infectious diseases eased further. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter under review, Japan's economy remained in an uncertain environment due to Russia's invasion of Ukraine, disruptions to international supply chains, soaring prices, particularly for consumer goods, and the double blow of longer lead times and price increases for raw materials and products. Nevertheless, together with the subsiding of the eighth wave of COVID-19 infections, the economy continued to recover gradually.」
The end of the eighth wave of COVID-19 and a gradual economic recovery trend were reported, partly mitigating the impact of pandemic-related macroeconomic deterioration. However, uncertainty unrelated to the pandemic continued. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter under review, Japan's economy remained in an uncertain environment due to the impact of the COVID-19 pandemic, referred to below as COVID-19, Russia's invasion of Ukraine, disruptions to international supply chains, significant foreign-exchange fluctuations, soaring prices, particularly for consumer goods, and the double blow of longer lead times and price increases for raw materials and products. However, social activity gradually began returning to pre-COVID levels under the slogan of “no restrictions on activities...,” and the economy entered a gradual recovery trend.」
Although the effects of COVID-19 continued, social activity gradually recovered in an environment without restrictions on people's movements, and the economy showed a gradual recovery trend. - FY2022MitigatedAnnual report
「Although waves of COVID-19 infections continued during the fiscal year, their impact on economic activity diminished due to factors including a lower rate of severe cases, and the economy continued to expand gradually.」
The company explained that although infections continued to spread, the impact on economic activity diminished due to factors including the lower rate of severe cases. However, the effects of supply-chain disruptions and other factors remained. - FY2022-Q3MitigatedAnnual report
「Economic activity gradually became more active after the lifting at the end of March of quasi-emergency measures to prevent the spread of COVID-19. However, the economic outlook remained uncertain due to the increasingly tense situation in Ukraine, supply-chain disruptions following lockdowns in Chinese cities, rising prices including resource prices, and the rapid depreciation of the yen.」
In Japan, economic activity gradually became more active after the lifting of quasi-emergency measures, while COVID-19-related effects, including supply-chain disruptions caused by lockdowns in China, remained. - FY2022-Q2WorsenedAnnual report
「Since January, the economic outlook has remained uncertain because of supply-chain disruptions and supply constraints caused by the rapid spread of COVID-19, as well as a further surge in resource prices resulting from heightened tensions surrounding the situation in Ukraine.」
Against the economic recovery trend reported in the previous quarter, a rapid increase in COVID-19 infections again became a factor worsening the business environment through supply-chain disruptions and supply constraints. - FY2022-Q1MitigatedAnnual report
「During the first-quarter cumulative period, Japan's economy continued to recover gradually as the flow of people recovered following the lifting of the declaration of a state of emergency over COVID-19 at the end of September of the previous year. The economy was expected to return to its pre-COVID-19 condition during the year.」
The recovery in the flow of people and gradual economic recovery following the lifting of the declaration of a state of emergency were reported, partly mitigating the risk of COVID-19-related macroeconomic deterioration. However, effects remained on individual businesses. - FY2021MitigatedAnnual report
「Government measures such as promoting vaccinations have taken effect, substantially reducing new infections, while measures in social activities such as a new lifestyle and medical measures including the development of treatments and vaccines have advanced. However, if overall social activity stagnates due to a rapid expansion of infections or other factors, the Group's results may be affected.」
The company reported a substantial decline in new infections due to vaccinations and other measures, partly mitigating the risk factor, while the possibility of an impact on results from a rapid expansion of infections remained. - FY2021-Q3RestatedAnnual report
「During the third-quarter cumulative period, although vaccinations were ramped up as a measure to prevent the spread of COVID-19, the economy continued to be significantly affected by COVID-19 as a factor impeding economic activity, with quasi-emergency measures and declarations of a state of emergency remaining in place.」
While vaccinations were ramped up, quasi-emergency measures and declarations of a state of emergency continued, and COVID-19 remained a factor impeding economic activity. - FY2021-Q2WorsenedAnnual report
「During the second-quarter cumulative period, Japan's economy remained in a difficult situation, with the declaration of a state of emergency over COVID-19 reissued and service consumption declining as people refrained from going out. The economic outlook remained uncertain, and the economy was still expected to require considerable time to recover to its pre-COVID-19 condition.」
As the effects of COVID-19 continued from the previous quarter, the declaration of a state of emergency was reissued, with a decline in service consumption and an uncertain economic outlook. - FY2021-Q1MitigatedAnnual report
「For COVID-19, the company assumes that sales for the Group will not return to ordinary levels until the next consolidated fiscal year or later when making accounting estimates, including estimates of the recoverability of deferred tax assets.」
The assumed timing for recovery to ordinary sales levels was brought forward from “the fiscal year after next or later,” as stated in the previous period, to “the next consolidated fiscal year or later.” However, the effects of stagnant capital investment and weak business demand caused by COVID-19 continue. - FY2020WorsenedAnnual report
「In its accounting estimates concerning the recoverability of deferred tax assets and impairment of fixed assets, the company assumes that sales will not return to ordinary levels until the fiscal year after next or later.」
Regarding the recovery of sales following COVID-19, the company assumes that sales will not return to ordinary levels until the fiscal year after next or later, indicating a prolonged impact. - FY2020-Q3MaterialisedAnnual report
「During the third quarter, the spread of COVID-19 caused social activity throughout Japan to stagnate.」
The effects of COVID-19 materialised in stagnant social activity, cancellations of sales visits and exhibitions, and sluggish sales and earnings. The company also continued to disclose the possibility of future effects on business activity and earnings. - FY2020-Q2First statedAnnual report
「Overall social trends related to COVID-19 may affect the company's results. The economy deteriorated sharply as COVID-19 spread worldwide.」
The company identified overall social trends related to COVID-19 as a new business risk. It explained that sales and earnings remained sluggish amid economic and market deterioration, with the impact already becoming apparent in the quarter.