Weak demand and deteriorating profitability caused by COVID-19
First written in FY2021-Q3. 5 of 12 entries say "Materialised", first in FY2022-Q2. Latest entry: FY2024-Q3.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q3MitigatedAnnual report
「As economic activity normalized following the reclassification of COVID-19 as a Class 5 disease under Japan’s Infectious Diseases Control Law, personal consumption showed signs of recovery due to rising wages, and the expansion of inbound tourism, the economy showed a gradual recovery trend.」
The filing described the normalization of economic activity and a gradual recovery in the economy following COVID-19’s reclassification as a Class 5 disease, indicating that the demand weakness risk was easing. - FY2024-Q1MitigatedAnnual report
「While economic activity was moving toward recovery as COVID-19-related restrictions were eased」
The filing described economic activity moving toward recovery as COVID-19-related restrictions were eased, indicating that the risk of demand weakness was moderating. - FY2023MaterialisedAnnual report
「Although the impact of semiconductor shortages and higher raw-material costs was limited in the laser device business, sales declined from the previous year for some products because of lockdowns under China’s zero-COVID policy.」
Lockdowns under China’s zero-COVID policy actually reduced full-year sales of products including quantum-dot lasers for communications and high-power lasers for sensors. - FY2023-Q3RestatedAnnual report
「If the spread of COVID-19 is prolonged, it may affect the company’s operating results and financial condition.」
The risk that a prolonged pandemic would affect operating results and financial condition continues to be disclosed. - FY2023-Q2MaterialisedAnnual report
「Sales of high-power lasers declined because of lockdowns in China」
China’s lockdowns actually affected quarterly results through lower high-power laser sales. The potential impact of a prolonged pandemic on operating results and financial condition continues to be disclosed. - FY2023-Q1MaterialisedAnnual report
「In the laser device business, high-power laser products for sensors were affected by the suspension of operations at customers’ factories due to lockdowns in China」
The shutdown of customers’ factories due to lockdowns in China actually affected orders and sales of high-power laser products for sensors. The filing also continued to disclose the possibility that a prolonged pandemic could affect operating results and financial condition. - FY2022MaterialisedAnnual report
「The slowdown in overseas expansion, mainly in China, caused by COVID-19 and the revision of our product strategy resulted in an inventory valuation loss of ¥408,695 thousand in the laser eyewear business, which we recognized」
The slowdown in overseas expansion caused by COVID-19 resulted in an actual inventory valuation loss of ¥408,695 thousand and affected operating performance. - FY2022-Q3RestatedAnnual report
「In the laser eyewear business, demand, primarily from individual customers, remained sluggish due to optical-store closures and overseas travel restrictions associated with measures against COVID-19.」
The filing continued to describe weak individual demand for laser eyewear due to optical-store closures and overseas travel restrictions. - FY2022-Q2MaterialisedAnnual report
「In the laser eyewear business, expected earnings were no longer projected to be generated over the estimated useful life of the asset group, reducing recoverability. Accordingly, the carrying amount was reduced to the recoverable amount, and the reduction was recognized as an impairment loss under extraordinary losses. The breakdown was: tools, furniture and fixtures ¥3,363 thousand and construction in progress ¥218 thousand.」
An impairment loss of ¥3,582 thousand was also recognized during the six months ended September 30 due to lower expected earnings in the laser eyewear business. - FY2022-Q1RestatedAnnual report
「If the spread of COVID-19 is prolonged, it may affect the company’s operating results and financial condition.」
The risk that a prolonged pandemic would affect operating results and financial condition continues to be disclosed. - FY2021RestatedAnnual report
「In the laser eyewear business, optical stores were affected by closures and other measures taken in response to COVID-19, resulting in weak demand, primarily from individual customers.」
The full-year filing continued to describe optical-store closures and weak individual demand caused by COVID-19. - FY2021-Q3First statedAnnual report
「In the laser eyewear business during the nine months ended December 31, 2020, expected earnings were no longer projected to be generated over the estimated useful life of the asset group because of COVID-19, reducing recoverability. Accordingly, the carrying amount was reduced to the recoverable amount, and the reduction was recognized as an impairment loss under extraordinary losses. The recoverable amount was measured based on projected sales volumes and assumed selling prices. The breakdown was: building fixtures ¥5,957 thousand; machinery and equipment ¥46,458 thousand; tools, furniture and fixtures ¥92,955 thousand; software ¥6,822 thousand; and inventories ¥9,089 thousand, for a total of ¥161,282 thousand.」
The filing described lower orders caused by overseas travel restrictions and optical-store closures and recognized an impairment loss of ¥161,282 thousand in the laser eyewear business.