Business and Financial Impact of the COVID-19 Pandemic
First written in FY2020. 7 of 15 entries say "Mitigated", first in FY2022. Latest entry: FY2024.
Ushio 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 2025: 7 of 24 companies on the "Worse" side.
25 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「In the visual imaging market, cinema operations and capital investment recovered worldwide as economic activity resumed toward normalization following the COVID-19 pandemic. In the general visual equipment market, market conditions also remained firm as events and other activities recovered.」
The recovery in cinema and event operations continued, and the impact of COVID-19 on the visual imaging market remained mitigated. - FY2024-Q2RestatedAnnual report
「In the visual imaging market, cinema operations recovered worldwide as economic activity resumed toward normalization following the COVID-19 pandemic. In the general visual equipment market, market conditions also remained firm as events and other activities recovered.」
Cinema operations continued to recover worldwide, and event demand remained firm, among other factors, with the impact of COVID-19 on the visual imaging market continuing to ease. - FY2024-Q1MitigatedAnnual report
「In the visual imaging market, cinema operations recovered worldwide as economic activity resumed toward normalization following the COVID-19 pandemic. In the general visual equipment market, market conditions also remained firm as events and other activities recovered.」
The recovery in cinema operations and event demand continued, partially mitigating the impact of COVID-19 on the visual imaging market. However, it was stated that there had been no material change in the assumptions used for accounting estimates. - FY2023MitigatedAnnual report
「As restrictions on activity were gradually eased following the spread of COVID-19, economic activity moved toward normalization. Accordingly, the impact on the Group at this time was limited.」
The impact of COVID-19 was considered limited, and no loss due to temporary closures or other factors, as recorded in the previous fiscal year, was incurred in the current fiscal year. - FY2023-Q3MitigatedAnnual report
「In the visual imaging market, cinema reopenings and the recovery of operations progressed worldwide, excluding China, where a zero-COVID policy had been implemented.」
Cinema reopenings and the recovery of operations progressed worldwide excluding China, partially mitigating the impact of COVID-19 on the visual imaging business. In China, the effects of the zero-COVID policy remained. - FY2023-Q2MitigatedAnnual report
「In the visual imaging market, restrictions on activity in response to the renewed spread of COVID-19 were limited, and cinema reopenings and the recovery of operations progressed worldwide.」
With restrictions on activity limited, cinemas reopened and operations recovered worldwide, partially mitigating the impact of COVID-19 on the visual imaging business. - FY2023-Q1MitigatedAnnual report
「In the visual imaging market, cinema reopenings and the recovery of operations progressed worldwide despite the effects of renewed infections caused by COVID-19 variants and other factors.」
Although renewed infections caused by variants continued, cinemas reopened and operations recovered worldwide, leading to a recovery in sales and a return to profitability in the Visual Imaging business. - FY2022MitigatedAnnual report
「In response to the spread of COVID-19, the Group established a cross-business COVID-19 response committee and worked to minimize the impact on operations. It also actively implemented measures to help control infections, including remote work and staggered commuting, and worked to prevent the spread of COVID-19.」
The impact of COVID-19 remained in the Visual Imaging business and elsewhere, and a ¥151 million loss due to temporary closures and other factors was recorded. The filing describes measures to limit the impact on operations, including a cross-business response committee, remote work and staggered commuting. - FY2022-Q3RestatedAnnual report
「Although the impact of COVID-19 on the Group varies by business in nature and severity, it continues mainly in parts of the Visual Imaging and Light Sources businesses.」
While the impact of COVID-19 continues in parts of the Visual Imaging and Light Sources businesses, the same filing also indicates improved sales from the reopening of cinemas and market recovery. - FY2022-Q2RestatedAnnual report
「Although the impact of COVID-19 on the Group varies by business in nature and severity, it continues mainly in parts of the Visual Imaging and Light Sources businesses.」
While the impact of COVID-19 continues in parts of the Visual Imaging and Light Sources businesses, the filing also describes a recovery in sales across the businesses as cinemas reopen and markets recover. - FY2022-Q1Continuing impact alongside recoveryAnnual report
「Although the impact of COVID-19 on the Group varies by business in nature and severity, it continues mainly in parts of the Visual Imaging and Light Sources businesses.」
While the impact of COVID-19 continues in parts of the Visual Imaging and Light Sources businesses, the same filing also indicates improved sales from the reopening of cinemas and market recovery. - FY2021Quantification and prolongation of the full-year impactAnnual report
「The impact of COVID-19 on the Group's performance during the fiscal year was negative ¥15.6 billion on a gross profit basis, mainly affecting xenon lamps for cinema projectors in the Light Sources business and performance in the Visual Imaging business.」
The full-year impact of COVID-19 was quantified as a negative ¥15.6 billion on a gross profit basis. It was assumed that the impact would remain to a certain extent in the fiscal year ending March 2022, and a ¥1,312 million loss due to temporary closures and other factors was also recorded. - FY2021-Q3Prolonged impact period and losses from temporary closuresAnnual report
「Our Group had assumed that these conditions would gradually recover from October 2020 and subside during the fiscal year ending March 2021. We changed this assumption to reflect that the impact would remain to a certain extent during the fiscal year ending March 2022 and made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets. There were no material changes in the accounting estimates resulting from the change in assumptions. Losses due to temporary closures and other factors — 1,109」
The assumption that the impact of COVID-19 would subside during the fiscal year ending March 2021 was changed to assume that it would remain to a certain extent during the fiscal year ending March 2022. In addition, losses of ¥1.109 billion due to temporary closures and other factors were recorded, disclosing both the prolonged impact and the actual losses. - FY2021-Q2MaterialisedAnnual report
「Although the impact of COVID-19 on our Group varies by business in terms of nature and degree, closures of movie theaters and the cancellation or curtailment of events in response to the spread of COVID-19 continued mainly in the visual equipment business and part of the light-source business, affecting net sales during the first six months of the current fiscal year.」
Movie theater closures and the cancellation or curtailment of events due to COVID-19 continued, resulting in lower net sales in the visual equipment and light-source businesses. Losses of ¥896 million due to temporary closures and other factors were also recorded as an extraordinary loss, while uncertainty remained regarding the timing of the end of the pandemic for accounting estimates. - FY2020First statedAnnual report
「If the spread of COVID-19 continues for an extended period, concerns may arise regarding the collection of trade receivables, reduced investment appetite and significant changes in market conditions due to deterioration in business conditions caused by prolonged closures at customers and other factors. This may have a material impact on our Group's operating results and financial condition.」
Customer closures, concerns over receivables collection, reduced investment appetite and changes in market conditions resulting from the spread of COVID-19 were identified as a standalone risk for the first time. The disclosed impact on full-year results was approximately ¥10 billion in net sales and approximately ¥3 billion in operating profit.