Demand and Business Continuity Risks Related to COVID-19
First written in FY2020. 4 of 13 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024DroppedAnnual report
「During the current fiscal year (1 April 2023 to 31 March 2024), uncertainty about the outlook increased due to the prolonged war in Ukraine, the outbreak of conflict in the Middle East, global monetary tightening, deteriorating relations between the United States and China, and concerns about a slowdown in the Chinese economy.」
The demand and business-continuity risks from COVID-19, which had been disclosed as a standalone item through the previous fiscal year, were no longer listed separately in the current fiscal year's risk factors, with the focus of the discussion shifting to geopolitical, financial, and Chinese economic risks. - FY2024-Q1SoftenedAnnual report
「Economic activity continued to normalize after the pandemic, but uncertainty about the outlook persisted due to the ongoing turmoil in Ukraine, concerns about an economic recession resulting from prolonged inflation and interest-rate hikes in the United States and Europe, and concerns about slower growth in the Chinese economy following the lifting of its zero-COVID policy.」
Economic activity was described as having normalized further after the pandemic, and the direct impact of pandemic-related demand and business-continuity risks had weakened from before. However, other sources of uncertainty, including geopolitical risks, inflation, higher interest rates, and the Chinese economy, persisted. - FY2023SoftenedAnnual report
「During the current fiscal year, economic normalization from the pandemic progressed in each country and capital investment recovered across the manufacturing sector. However, uncertainty about the outlook continued due to persistent difficulties in procuring components and raw materials, the prolonged Russian invasion of Ukraine, rising tensions between the United States and China, and concerns about an economic recession resulting from monetary tightening in the United States and Europe.」
Economic normalization from the pandemic and a recovery in capital investment became apparent, and direct references to the pandemic's demand and business-continuity risks weakened. However, difficulties in procuring components and raw materials, as well as geopolitical and recession risks, persisted. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period of the current consolidated fiscal year, there were no material changes in the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
The accounting assumptions concerning the spread of COVID-19 and the timing of its containment had not changed from the previous fiscal year. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period of the current consolidated fiscal year, there were no material changes in the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
The accounting assumptions concerning the spread of COVID-19 and the timing of its containment had not changed from the previous fiscal year. - FY2023-Q1RestatedAnnual report
「During the cumulative first-quarter period of the current consolidated fiscal year, there were no material changes in the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
The accounting assumptions concerning the spread of COVID-19 and the timing of its containment had not changed from the previous fiscal year. - FY2022WorsenedAnnual report
「It is difficult to predict when the global spread of COVID-19 will be brought under control, and our group assumes that the current situation will continue at least through the end of the fiscal year ending March 2023.」
The assumed duration of the pandemic's impact was extended from the previously assumed end of the fiscal year ending March 2022 to the end of the fiscal year ending March 2023. At the same time, the company explained that the impact on results of operations and financial position during the current fiscal year was limited by maintaining production and higher inventory levels. - FY2022-Q2SoftenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year (1 April 2021 to 30 September 2021), economic activity resumed in various countries as COVID-19 vaccinations progressed, and investment appetite recovered across the manufacturing sector. However, uncertainty about the outlook continued due to the renewed spread of infections caused by variants, semiconductor shortages, soaring raw material prices, logistics disruptions and power shortages in China, among other factors.」
The recovery in capital investment appetite became apparent as vaccination progressed and economic activity resumed, and the pandemic's impact on demand weakened from the previous fiscal year. However, uncertainty remained due to the renewed spread of variants, and there were no material changes in the accounting assumptions concerning the spread of the infection and the timing of its containment. - FY2021WorsenedAnnual report
「It is difficult to predict when the global spread of COVID-19 will be brought under control, and our group assumes that the current situation will continue at least through the end of the fiscal year ending March 2022.」
The assumed duration of the pandemic's impact was extended from the end of the fiscal year ending March 2021 to the end of the fiscal year ending March 2022. In actual results, revenue declined in the first half, but the company explained that the impact was limited by maintaining production and higher inventory levels. - FY2021-Q3RestatedAnnual report
「During the cumulative nine-month period of the current consolidated fiscal year (1 April 2020 to 31 December 2020), uncertainty about the outlook remained high as the containment of COVID-19 remained unforeseeable, compounded by tensions between the United States and China and political turmoil in the United States, while capital investment demand remained subdued across a broad range of industries.」
The company explained that uncertainty related to COVID-19's impact on demand and business continuity persisted and that capital investment demand remained subdued across a broad range of industries. There were no material changes in the accounting assumptions, including those concerning the spread of the infection and the timing of its containment. - FY2021-Q2WorsenedAnnual report
「As the blow to the global economy from the spread of COVID-19 grew more severe, there were no signs of easing in tensions between the United States and China, uncertainty about the outlook increased further, and businesses across a broad range of industries continued to hold back on capital investment.」
The blow to the global economy from COVID-19 and restrained capital investment continued from the previous quarter, with the filing describing the blow as becoming “more severe” and uncertainty about the outlook as “increasing further.” There were no material changes in the accounting assumptions concerning the spread of the infection and the timing of its containment. - FY2021-Q1MaterialisedAnnual report
「As the global economy suffered a severe blow from the spread of COVID-19, uncertainty about the outlook increased, including as tensions between the United States and China again intensified, and businesses across a broad range of industries continued to hold back on capital investment.」
The demand and business-continuity risks from COVID-19 assumed in the previous fiscal year have materialized in the current quarter as a blow to the global economy, restrained capital investment, and sluggish demand related to automobiles and machine tools. The company also explained that there had been no material changes in the accounting assumptions concerning the spread of the infection and the timing of its containment. - FY2020First statedAnnual report
「Due to the impact of COVID-19, our group has no choice but to expect a substantial short-term decline in revenue and profit. It is difficult to predict when the global spread of the infection will be brought under control and customers will resume active capital investment, and our group assumes that the current situation will continue at least through the end of the fiscal year ending March 2021.」
COVID-19 was described in detail for the first time as a standalone business-environment risk, with the company assuming lower revenue and profit, weaker capital investment sentiment, and continued effects through the end of the fiscal year ending March 2021.