Construction Delays and Declines in Capital Investment Due to COVID-19
First written in FY2020. 4 of 12 entries say "Restated". Latest entry: FY2023.
Mitsubishi Kakoki moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
0 other companies' latest entry also says "Other".
- FY2023The impact of infectious diseases continues, while economic and social activity normalisesAnnual report
「During the current consolidated fiscal year, the Japanese economy continued to be affected by COVID-19, but personal consumption and private-sector capital investment showed signs of recovery as restrictions on activity were gradually eased and economic and social activity moved toward normalisation.」
While the impact of the infectious disease continued, the disclosure also notes the easing of restrictions on activity, the normalisation of economic and social activity, and the recovery in personal consumption and private-sector capital investment. - FY2023-Q2Renewed infections and the normalisation of economic and social activity are both notedAnnual report
「Although there was a rapid resurgence of COVID-19 infections, personal consumption and private-sector capital investment showed signs of recovery amid efforts to normalise economic and social activity.」
While describing the rapid resurgence of COVID-19 infections, the disclosure also notes the normalisation of economic and social activity and the recovery in personal consumption and private-sector capital investment. - FY2023-Q1The impact of the infectious disease has eased, but concerns remain about renewed infectionsAnnual report
「As the difficult situation caused by COVID-19 eased and economic and social activity moved toward normalisation, personal consumption and private-sector capital investment showed signs of recovery. Meanwhile, from July onward, the number of COVID-19 infections surged again following the emergence of new variants, among other factors,」
The disclosure states that the impact of the infectious disease on economic activity eased and normalisation progressed, while also noting a renewed increase in infections caused by new variants and continued uncertainty about the outlook. - FY2022MaterialisedAnnual report
「Assuming that the impact of COVID-19 would continue for a certain period into the following consolidated fiscal year, accounting estimates were made for the valuation of property, plant and equipment, deferred tax assets and other items.」
Property, plant and equipment and deferred tax assets were valued on the assumption that the impact of the infectious disease would continue into the following fiscal year, and the impact extended to accounting estimates. - FY2022-Q3RestatedAnnual report
「From the beginning of the fiscal year through the summer, the number of infections increased owing to the emergence of variants and other factors, but began to decline as vaccinations progressed. States of emergency and other measures were lifted at the end of September, and personal consumption showed signs of recovery. Meanwhile, the recovery in private-sector capital investment stalled, and supply chains were disrupted by semiconductor shortages and other factors,」
Regarding COVID-19, the disclosure recognises the decline in infections and the recovery in personal consumption after the state of emergency was lifted, while concerns about renewed infections caused by variants and the stalled recovery in capital investment continued. - FY2022-Q2MaterialisedAnnual report
「The economy remains clouded by uncertainty about the outlook, with production weakening in some areas owing to parts shortages resulting from the spread of infections overseas.」
Parts shortages and partial production weakness caused by the overseas spread of COVID-19 are described as actual business conditions. - FY2022-Q1RestatedAnnual report
「As COVID-19 infections continued to spread and persist owing to the emergence of variants and other factors, states of emergency were reimposed in some areas and priority preventive measures were introduced, while vaccination was also delayed,」
The disclosure states that the renewed and prolonged spread of COVID-19 and its continued impact on economic activity through states of emergency and other measures remain ongoing. - FY2021WorsenedAnnual report
「There were many cases in which capital investment plans were put on hold because of the impact of COVID-19, and orders declined, but signs of recovery emerged from around the third quarter, mainly in IT-related industries.」
While COVID-19 led to continued postponements of capital investment plans and a decline in orders, the disclosure also notes signs of a partial recovery from around the third quarter. - FY2021-Q3RestatedAnnual report
「Since November, infections of COVID-19 have resurged, the recovery in personal consumption has stalled, and companies have continued to take a cautious stance toward private-sector capital investment amid uncertainty over the outlook. Economic conditions therefore remained severe.」
The disclosure states that constraints on economic activity caused by COVID-19 and a cautious stance toward capital investment amid continued renewed infections remain in place. - FY2021-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, the Japanese economy entered an extremely difficult situation as the spread of COVID-19 led to a state of emergency being declared from April through May, and economic activity deteriorated rapidly owing to restrictions and voluntary curbs on social and economic activity. After the state of emergency was lifted, the economy showed signs of recovery as economic activity resumed. However, the recovery in personal consumption remained stalled owing to concerns about a resurgence of infections, while private-sector capital investment also remained weak as companies maintained a cautious stance, and economic conditions therefore continued to be difficult.」
The disclosure describes restrictions on economic activity and the deterioration in economic conditions caused by COVID-19, while also indicating a partial recovery after the state of emergency was lifted and the continued risk of renewed infections and sluggish capital investment. - FY2021-Q1WorsenedAnnual report
「During the 3-month period of the current fiscal year, the Japanese economy remained in an extremely severe condition. Economic activity stagnated globally due to the spread of COVID-19, while Japan declared a state of emergency from April to May. Restrictions and voluntary restraint on social and economic activities caused personal consumption to decline rapidly, corporate earnings and business sentiment to deteriorate, and private-sector capital investment to remain at a low level.」
Regarding the impact of COVID-19-related process delays and declines in capital investment described in the previous fiscal year, the scope of the impact was described in terms of the global slowdown in economic activity, the declaration of a state of emergency, deteriorating corporate earnings and low levels of private-sector capital investment. - FY2020First statedAnnual report
「The spread of COVID-19 has resulted in restrictions on the movement of people in some areas, delays in processes due to logistics disruptions, and extensions to construction periods.」
COVID-19 was explicitly identified as a standalone risk for the first time, with restrictions on the movement of people, logistics disruptions, process delays and extensions to construction periods already occurring. Concerns were also expressed about declines, postponements and cancellations in customers’ capital investment and maintenance projects going forward.