Impact of the Spread of COVID-19 on Production, Demand, and Financial Condition
First written in FY2020. 9 of 13 entries say "Mitigated", first in FY2021-Q3. Latest entry: FY2023.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023MitigatedAnnual report
「As restrictions on economic activity related to COVID-19 were gradually eased, the economy entered a moderate recovery trend.」
The impact of restrictions on economic activity due to COVID-19 has eased, and the Company expects no significant impact on automotive parts production and delivery activities in the following fiscal year. - FY2023-Q3MitigatedAnnual report
「Although the spread of COVID-19 in China and semiconductor shortages and other factors had an impact, vehicle production was in the process of recovering year on year.」
Although the impact on production from the spread of COVID-19 in China remains, vehicle production is recovering year on year, and the impact related to the pandemic has been partly mitigated. - FY2023-Q2MitigatedAnnual report
「Although vehicle production cuts occurred in the first quarter due to lockdowns in China and the semiconductor shortage, vehicle production has been on a recovery trend since the second quarter,」
Although COVID-19-related lockdowns in China and elsewhere affected production and reduced vehicle production, vehicle production began to recover from the second quarter onward, partly mitigating the impact compared with the previous year. - FY2023-Q1MaterialisedAnnual report
「Although vehicle production was reduced due to semiconductor shortages and lockdowns in China, among other factors」
COVID-19-related lockdowns in China and elsewhere affected the business through reduced vehicle production, and production and demand risks related to the pandemic were again identified as having an impact on results. - FY2022MitigatedAnnual report
「Despite vehicle production cuts caused by semiconductor shortages and other factors, consolidated fiscal-year results benefited from the recovery from the effects of COVID-19 and other factors, with revenue increasing to ¥5,515.5 billion, up ¥578.8 billion, or 11.7%, year on year.」
Full-year revenue increased 11.7% as production and sales recovered from the previous year's decline caused by COVID-19, despite the continuing impact of semiconductor shortages and other factors. - FY2022-Q3MitigatedAnnual report
「As vehicle sales recovered from the decline caused by COVID-19 in the previous year and sales expansion progressed, revenue increased to ¥4,009.0 billion, up ¥500.5 billion, or 14.3%, year on year.」
Revenue recovered from the previous year's decline in vehicle sales caused by COVID-19, resulting in a 14.3% increase in revenue for the cumulative third quarter. However, the impact of semiconductor shortages and other factors remained during the current third quarter. - FY2022-Q2MitigatedAnnual report
「During the six-month period ended [this quarter], although vehicle production cuts by automakers due to the semiconductor shortage and other factors had an impact, production and sales recovered from the impact of COVID-19 in the previous year. As a result, revenue increased to ¥2.5829 trillion, up ¥508.2 billion, or 24.5%, year on year.」
Vehicle production and sales recovered from the previous year's decline caused by COVID-19, resulting in higher revenue and operating profit in all regions. However, the impact of production cuts due to semiconductor shortages remains. - FY2022-Q1MitigatedAnnual report
「During the cumulative first quarter, vehicle production and sales, which had declined the previous year due to the impact of COVID-19, recovered steadily.」
The impact of COVID-19 on vehicle production and sales recovered steadily from the sharp decline in the previous year, resulting in higher revenue and operating profit in all regions. However, the impact of semiconductor shortages on vehicle production remains. - FY2021MitigatedAnnual report
「Revenue declined to ¥4,936.7 billion, down ¥216.8 billion, or 4.2%, year on year, as vehicle sales fell sharply in the first quarter due to the market slowdown caused by the spread of COVID-19 and subsequently began to recover, while revenue was also affected by declines related to semiconductor and materials shortages.」
The sharp decline in the first quarter due to COVID-19 remained a factor, but vehicle sales subsequently began to recover, resulting in a 4.2% year-on-year decline in full-year revenue. - FY2021-Q3MitigatedAnnual report
「Although sales have been recovering since the second quarter, revenue declined to ¥3,508.6 billion, down ¥386.4 billion, or 9.9%, year on year.」
Although the impact of COVID-19 on vehicle sales and economic activity remained during the cumulative third quarter, sales began to recover from the second quarter onward, and the third quarter alone saw higher revenue and operating profit year on year in all regions. - FY2021-Q2MaterialisedAnnual report
「Although emergency cash-preservation measures and structural transformation were accelerated and a profit was secured in the three months of the second quarter, operating loss for the first half as a whole was ¥69.6 billion due to negative operating-rate variances and other factors, compared with operating profit of ¥134.0 billion in the same period of the previous year.」
Due to lower vehicle sales and unfavorable operating-rate variances caused by COVID-19, the operating loss for the first half was ¥69.6 billion. The Company nevertheless remained profitable in the second quarter alone. - FY2021-Q1MaterialisedAnnual report
「The global spread of COVID-19 had a negative impact on economic activity in many countries. Revenue declined to ¥765.1 billion, down ¥559.0 billion, or 42.2%, year on year, due to lower vehicle sales. The operating loss was ¥106.6 billion, compared with operating profit of ¥69.1 billion in the same quarter of the previous year, due to lower operating rates.」
The decline in vehicle sales, lower operating rates and lower revenue in all regions resulting from the spread of COVID-19 were reflected in first-quarter results, with revenue down 42.2% year on year and an operating loss of ¥106.6 billion. - FY2020MaterialisedAnnual report
「Partly due to restrictions on movement imposed by government authorities in various countries, some consolidated companies and business partners have suspended factory operations or adjusted production, affecting production and delivery activities.」
The Company has disclosed risks from factory shutdowns and production adjustments, which have already affected production and delivery activities, as well as potential longer-term effects on economic conditions, vehicle sales and parts procurement.