Delays in export orders due to procedural delays for large-scale projects
First written in FY2020-Q3. 4 of 8 entries say "Restated". Latest entry: FY2023.
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- FY2023MitigatedAnnual report
「Although restrictions related to COVID-19, which had continued for 3 years, have gradually been lifted in countries around the world, Japan shifted the disease’s classification under the Infectious Diseases Control Act from Category 2 to Category 5, bringing daily life into the with-COVID era. We conduct substantial business with China, where the strict zero-COVID policy maintained until recently was ended at the end of last year. Local quarantine has been eliminated, procedures such as proof of a negative test have been greatly simplified, and conditions are rapidly returning to pre-COVID levels.」
Procedures for overseas travel, local quarantine, and proof of a negative test, among others, have been greatly simplified, indicating an improved environment with respect to the risk of delays in orders for overseas projects due to the procedural delays seen previously. - FY2023-Q2RestatedAnnual report
「China, with which we conduct a substantial amount of business, still maintains its zero-COVID policy. Procedures for secondments to China have been eased somewhat, including somewhat simplified procedures and shorter quarantine periods, but lockdowns have been implemented in some regions, and it is expected to take more time to return to pre-COVID conditions.」
Although some procedural and quarantine restrictions for projects for China have been eased, the zero-COVID policy and regional lockdowns have continued, reconfirming that the factors behind previous order delays remain in place. - FY2023-Q1MitigatedAnnual report
「For overseas projects, the easing of restrictions, including simplified procedures for travel to and from overseas and shorter quarantine periods, has led to an increase in the number of orders received as well as an increase in orders for large-scale projects.」
Restrictions were eased through simplified procedures for overseas travel and shorter quarantine periods, indicating an improved environment with respect to the risk of delays in orders for large-scale overseas projects due to the procedural delays seen previously, as well as an increase in orders. - FY2021-Q3RestatedAnnual report
「Due to the impact of COVID-19, delays in orders caused by procedural delays and interruptions to projects under discussion were observed for large-scale overseas projects. Revenue and profit for the cumulative third quarter declined compared with the cumulative third quarter of the previous fiscal year.」
It was reconfirmed that, due to COVID-19, procedural delays, order delays, and interruptions to projects under discussion for large-scale overseas projects had continued. - FY2021-Q2RestatedAnnual report
「Due to the impact of COVID-19, delays in orders caused by procedural delays and interruptions to projects under discussion were observed for large-scale projects for China. Revenue and profit for the cumulative second quarter declined compared with the cumulative second quarter of the previous fiscal year.」
It was reconfirmed that procedural delays, order delays, and interruptions to projects under discussion for large-scale projects for China had continued. - FY2021-Q1RestatedAnnual report
「Due to the impact of COVID-19, delays in orders caused by procedural delays and interruptions to projects under discussion were observed for large-scale projects for China. Revenue and profit for the cumulative first quarter declined compared with the cumulative first quarter of the previous fiscal year.」
It was reconfirmed that, due to COVID-19, procedural delays, order delays, and interruptions to projects under discussion for large-scale projects for China had continued. - FY2020WorsenedAnnual report
「Due to the impact of COVID-19, orders received were approximately half the previous year’s level, partly because procedural delays for large-scale projects for China caused delays in orders.」
Delays in orders due to procedural delays for large-scale projects for China were also confirmed in the annual report. Orders received decreased 50.8% year on year, while export orders decreased 72.5%. - FY2020-Q3First statedAnnual report
「For exports overseas, delays in orders due to procedural delays have been observed for large-scale projects.」
It was first explicitly stated that procedural delays for large-scale overseas projects had actually resulted in delays in orders.