Risk of sluggish housing investment and lower business activity due to COVID-19
First written in FY2020. 3 of 10 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024-Q3.
Maezawa Kyuso Industries moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
2 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan's economy gradually recovered as social and economic activity normalised.」
The normalisation of social and economic activity and the gradual recovery of the economy were reaffirmed, with the trend of improvement from the economic stagnation caused by the infectious disease continuing to be reported. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter under review, COVID-19 was reclassified as a Class 5 disease under the Infectious Diseases Control Act, and the economy gradually recovered as economic activity moved toward normalisation.」
The reclassification of COVID-19 and the normalisation of economic activity were noted, indicating an improvement from the previous economic stagnation caused by the infectious disease. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter under review, Japan's economy gradually recovered as restrictions on activities related to COVID-19 were eased and the economy operated under the conditions of living with COVID-19.」
The easing of activity restrictions related to COVID-19 and the gradual recovery of the economy were noted, indicating some improvement in the economic stagnation risk caused by the infectious disease. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter under review, Japan's economy gradually recovered as economic and social activity normalised while the severe conditions caused by COVID-19 eased.」
The severe economic conditions caused by COVID-19 eased, and economic and social activity began to normalise. However, infection prevention measures continued. - FY2022-Q2RestatedAnnual report
「During the second quarter of the consolidated cumulative period under review, the economy continued to recover gradually from the downturn caused by the COVID-19 crisis. However, the outlook remained uncertain due to activity restrictions resulting from intermittent states of emergency, concerns about a renewed spread of infection, shortages of raw materials and rising resource prices accompanying the global economic recovery.」
While concerns over a resurgence of infections and activity restrictions continued, the economy was described as being on a gradual recovery trend, reaffirming the continuation of the infectious disease risk. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the consolidated cumulative period under review, capital investment and production continued to show signs of recovery, but the outlook remained uncertain due to the prolonged novel coronavirus disease, including the spread of variants.」
The prolonged course of the pandemic due to the spread of variants and other factors was explicitly noted, as was the continuation and prolongation of the infectious disease risk. - FY2021MaterialisedAnnual report
「New housing starts related to the Group's businesses remained sluggish throughout the year as the impact of COVID-19 compounded the reactionary decline following the consumption tax increase.」
Weak new housing starts and new construction demand due to COVID-19 became evident as a full-year business environment. Meanwhile, production and supply of products continued as usual, and the impact on the business was described as minor. - FY2021-Q2MaterialisedAnnual report
「In the Water Supply Equipment Business, sales for new construction demand declined, partly because the number of new housing starts fell as COVID-19 spread, and net sales decreased 12.1% year on year to ¥7,840 million.」
The decline in new housing starts and sales for new construction demand associated with COVID-19 actually materialised as a 12.1% year-on-year decline in revenue in the Water Supply Equipment Business. - FY2021-Q1MaterialisedAnnual report
「In the Water Supply Equipment Business, net sales decreased 11.4% year on year to ¥3,683 million, mainly because sales for new construction demand declined due to the spread of COVID-19.」
The decline in sales for new construction demand due to COVID-19 actually materialised as lower revenue in the Water Supply Equipment Business. The Housing Equipment Business also reported lower sales due to delays and postponements in construction work. - FY2020First statedAnnual report
「In response to COVID-19, the Group has established an Emergency Response Headquarters under its basic risk management policy to protect the lives and livelihoods of employees, their families and other stakeholders. While taking all possible measures to prevent infections, gathering information and implementing various measures daily to minimise the impact on business activities, the Group may experience delays or suspension of production activities and lower sales activity if COVID-19 does not subside and continues for an extended period, which could affect its operating results and financial position.」
COVID-19 was disclosed as a standalone business risk for the first time, indicating the potential impact on operating performance from production stoppages and lower sales activity. At present, the Group is maintaining its product supply system and considers the impact to be minor.