Economic Stagnation and Downside Risks Due to COVID-19
First written in FY2020-Q3. 5 of 13 entries say "Materialised", first in FY2020. Latest entry: FY2024.
Toyo Denki Seizo K.K.(Toyo Electric Mfg.Co.,Ltd.) moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 112 of 175 companies on the "Worse" side.
56 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Demand recovery from the impact of COVID-19 progressed, and inbound demand remained strong, resulting in a recovery in the earnings of domestic railway operators and increased new-build vehicle production and equipment renewals that had been restrained.」
Regarding the impact of pandemic-related demand declines and order restraint, it states that demand, passenger flows, and inbound demand recovered, while new-build vehicle production and equipment renewals increased, indicating that the impact is easing. - FY2024-Q3MitigatedAnnual report
「Demand recovery from the impact of COVID-19 progressed, and inbound demand remained strong, resulting in a recovery in the earnings of domestic railway operators and increased new-build vehicle production and equipment renewals that had been restrained.」
Regarding the impact of pandemic-related demand declines, it states that domestic railway operators' earnings recovered and new-build vehicle production and equipment renewals increased against the backdrop of demand recovery and strong inbound demand. - FY2024-Q2MitigatedAnnual report
「Following the reclassification of COVID-19 as a Class 5 infectious disease, domestic railway operators' earnings recovered as passenger flows recovered and inbound demand increased, leading to an increase in new-build vehicle production and equipment renewals that had been restrained.」
It describes how the reclassification of COVID-19 as a Class 5 infectious disease, the recovery in passenger flows, and the increase in inbound demand helped ease the impact of the pandemic-related stagnation in economic activity. - FY2023Socioeconomic activity normalizes while the impact of the pandemic remainsAnnual report
「Socioeconomic activity is gradually returning to normal as restrictions on activity related to COVID-19 are eased and corporate capital investment recovers.」
Although the impact of the pandemic on orders and sales remains, socioeconomic activity normalized as restrictions on activity were eased and capital investment recovered, and the Chinese economy also entered a recovery trend. - FY2023-Q1Socioeconomic activity normalizes while the impact of the pandemic continuesAnnual report
「During the first quarter of the fiscal year under review (1 June 2022–31 August 2022), the impact of COVID-19 continued to affect the Japanese economy, although socioeconomic activity showed signs of normalizing as restrictions on activity were eased.」
While the impact of the pandemic continues, it states that socioeconomic activity is also normalizing as restrictions on activity are eased. Meanwhile, the impact on orders and sales continues. - FY2022-Q3RestatedAnnual report
「Under these conditions, the impact on the Group's orders and sales continued.」
It states that the impact of COVID-19 on orders and sales has continued. - FY2022-Q2Economic activity recovers while the impact of the pandemic continuesAnnual report
「During the second quarter of the fiscal year under review (1 June 2021–30 November 2021), the Japanese economy remained in a difficult situation due to the impact of the fifth wave of COVID-19 and the associated reissuance of a state of emergency declaration. In the latter half of the period, economic activity recovered as vaccinations progressed, infections fell sharply, and the government's economic measures took effect.」
While the fifth wave of infections and the state of emergency declaration prolonged difficult conditions, economic activity recovered in the latter half of the period against the backdrop of vaccinations and economic measures. - FY2022-Q1MaterialisedAnnual report
「During the first quarter of the fiscal year under review (1 June 2021–31 August 2021), the Japanese economy remained in a difficult situation due in part to the reissuance of a state of emergency declaration following the renewed spread of infections caused by variants, despite progress in COVID-19 vaccinations.」
While vaccinations progressed, the renewed spread of infections caused by variants and the reissuance of a state of emergency declaration prolonged the difficult economic environment and its impact on business. - FY2021MaterialisedAnnual report
「Under these conditions, the Group's orders and sales were affected, with some railway operators reviewing or postponing plans for new-build and replacement vehicles and some manufacturers reviewing or postponing equipment renewal plans.」
Restrictions on economic activity caused by the pandemic actually affected full-year orders and sales through the review and postponement of railway vehicle and equipment renewal plans. - FY2021-Q3MaterialisedAnnual report
「Under these conditions, the Group was also affected by COVID-19, with some railway operators reviewing or postponing plans for new-build and replacement vehicles and some manufacturers reviewing or postponing equipment renewal plans.」
It states that the impact of the pandemic has continued to affect actual order-taking activities through the review and postponement of railway operators' rolling stock plans and manufacturers' equipment renewal plans. - FY2021-Q1MaterialisedAnnual report
「During the first quarter of the fiscal year under review (1 June 2020–31 August 2020), the Japanese economy was severely affected by COVID-19, forcing economic activity to stagnate. Although personal consumption has recently shown signs of recovery, companies continue to face uncertainty about the outlook in addition to the decline in earnings to date, and capital investment in the manufacturing sector is expected to remain cautious.」
It states that the continued stagnation of economic activity caused by COVID-19 has actually affected the business environment through declining corporate earnings, more cautious capital investment, and uncertainty about the outlook. - FY2020MaterialisedAnnual report
「The start of operations at the plant of Zhongxi Toyo Permanent Magnet Motor Co., Ltd., established in China in June 2019, has been delayed by 2–3 months, but we are working toward commencing production in September.」
The impact of COVID-19 has materialized in the form of reduced passenger volumes and order postponements among domestic railway operators, stagnation in order-taking activities in the industrial business, delays in deliveries for overseas projects, and a 2–3-month delay in operations at a plant in China. - FY2020-Q3First statedAnnual report
「In the second half, some economic activity stagnated due to the impact of COVID-19, which began increasing rapidly in mid-January of this year. More recently, downside risks to the global economy stemming from these factors have also increased, while companies have become more inclined to restrain capital investment and a succession of companies have forgone base-pay increases for the first time in 7 years. Economic activity by companies and personal consumption are expected to remain sluggish for some time.」
Some economic activity has already stagnated due to COVID-19, and downside risks to the global economy, restraint on capital investment, and sluggish corporate activity and personal consumption are anticipated. However, the Company currently judges that there will be no impact on its latest disclosed earnings forecast.