Impact of the spread of COVID-19 on production, sales, production activities and operations across all businesses
First written in FY2020. 3 of 9 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2023.
The whole theme swung hardest in 2020: 104 of 176 companies on the "Worse" side.
- FY2023MitigatedAnnual report
「Regarding the spread of COVID-19 since 2020, restrictions on movement and other measures have been lifted progressively in each region, and the impact on economic activity has diminished. However, if economic activity were to stagnate again due to a renewed spread of infections, the procurement of components and raw materials, production, development or creation, and sale or provision of SONY GROUP CORPORATION’s products or services could be adversely affected, which could in turn adversely affect its business performance and financial condition.」
It was stated that the past impact of COVID-19 on the businesses had weakened as restrictions were lifted in each region, while the impact on supply, production and sales in the event of a renewed spread of infections was reconfirmed as a remaining risk. - FY2022-Q3RestatedAnnual report
「The spread of COVID-19 has adversely affected, and may continue to adversely affect, the procurement of components and raw materials, production, development or creation, and sale or provision of products or services in all of SONY GROUP CORPORATION’s business segments.」
It was reconfirmed that the spread of COVID-19 has affected game-console production, music and film production and theatrical exhibition, manufacturing and logistics, retail sales and financial services, and that the impact may continue. - FY2022-Q2RestatedAnnual report
「The spread of COVID-19 has adversely affected, and may continue to adversely affect, the procurement of components and raw materials, production, development or creation, and sale or provision of products or services in all of SONY GROUP CORPORATION’s business segments.」
The impacts on game production, music and film production and theatrical exhibition, manufacturing and logistics in EP&S, demand in I&SS, and face-to-face sales in financial services were specifically reassessed, and the possibility that the impact could continue even after measures such as remote consulting was noted. - FY2022-Q1RestatedAnnual report
「The timing and severity of the potential adverse effects of the spread of COVID-19 on SONY GROUP CORPORATION’s businesses are uncertain and depend on how the situation develops. This uncertainty may cause additional variability in accounting estimates and assumptions.」
It was reconfirmed that the timing and severity of the impact of the spread of COVID-19 on business performance and accounting estimates remain uncertain. - FY2021WorsenedAnnual report
「The period and severity of the adverse effects of the spread of COVID-19 may vary significantly depending on how the situation develops, including further spread or resurgence of infections and the timing and extent of containment in each region.」
The impact of the spread of COVID-19 continued across all segments, including game-console production, music production and live entertainment, film releases, manufacturing and logistics, retail sales and financial services, with the possibility of a prolonged impact due to variants or resurgences also expressly noted. - FY2021-Q3MaterialisedAnnual report
「In the music segment, delays in the release of some new music have continued due in part to the impact on artists’ recording of songs, production of music videos and promotional activities in countries around the world. Live entertainment and merchandise sales have declined in Japan and elsewhere, where restrictions on holding in-person concerts and other events have continued. In addition, the global contraction in advertising activity has reduced song usage fees from television commercials and other sources. In the motion pictures segment, the entire theatrical exhibition business has been significantly affected by cinema closures, capacity restrictions and other factors, and SONY GROUP CORPORATION has been unable to release in theaters most films whose production has already been completed.」
The impact of COVID-19 has continued to materialize in new music releases, live entertainment, merchandise sales, song usage fees and theatrical releases of films. - FY2021-Q2MaterialisedAnnual report
「In the music segment, releases of new music have been delayed in countries around the world due in part to the impact on artists’ recording of songs and production of music videos. Live entertainment and merchandise sales have declined in Japan and elsewhere, where concerts and other events have been subject to restrictions. In addition, the global contraction in advertising activity has reduced song usage fees from television commercials and other sources. In the motion pictures segment, the entire theatrical exhibition business has been affected by cinema closures and other factors, and SONY GROUP CORPORATION has generally been unable to release in theaters films whose production has already been completed.」
The impact of COVID-19 has continued to materialize across multiple business activities, including the production of new music, live entertainment, merchandise sales, song usage fees and theatrical releases of films. - FY2021-Q1MaterialisedAnnual report
「For example, in the G&NS segment, hardware production was adversely affected by supply chain issues involving components. In the music segment, sales of CDs and other packaged media have declined due to restrictions on movement. In the motion pictures segment, the entire theatrical exhibition business has been affected by cinema closures and other factors, and SONY GROUP CORPORATION has generally been unable to release in theaters films whose production has already been completed.」
The risk from the spread of COVID-19 has materialized as actual adverse effects across multiple areas, including game-console production and music and film sales and theatrical exhibition. - FY2020First statedAnnual report
「The spread of COVID-19 has adversely affected, and may continue to adversely affect, the production, development or creation, and sale or provision of products or services in all of SONY GROUP CORPORATION’s business segments.」
The spread of COVID-19 was identified for the first time as a standalone major risk, with actual impacts including component shortages and factory shutdowns, cinema closures, event cancellations, store closures and suspension of face-to-face sales, as well as the possibility that the impact could continue due to further outbreaks or resurgences.