Production Site Shutdowns and Reduced Production Due to COVID-19
First written in FY2021-Q1. 3 of 7 entries say "Mitigated", first in FY2021-Q3. Latest entry: FY2024-Q3.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q3MitigatedAnnual report
「Temporary loss 374 —」
No temporary loss related to the suspension of operations at the Shanghai subsidiary was recognized during the third quarter cumulative consolidated period, compared with ¥374 million in the year-earlier period. - FY2023-Q3WorsenedAnnual report
「At overseas consolidated subsidiary Sanmei High Technology (Shanghai) Co., Ltd., the Company recognized as an extraordinary loss the fixed costs for the period during which operations were suspended in response to requests from the Chinese government and other authorities to prevent the spread of COVID-19.」
Fixed costs associated with the suspension of operations at the Shanghai subsidiary were recognized as an extraordinary loss, bringing temporary losses to ¥374 million on a cumulative third-quarter basis. - FY2023-Q2MaterialisedAnnual report
「At overseas consolidated subsidiary Sanmei High Technology (Shanghai) Co., Ltd., the Company recognized as an extraordinary loss the fixed costs for the period during which operations were suspended in response to requests from the Chinese government and other authorities to prevent the spread of COVID-19.」
The Company recognized ¥366 million in temporary losses for fixed costs incurred during the suspension of operations at the Shanghai subsidiary in response to requests from the Chinese government and other authorities. - FY2022-Q1MitigatedAnnual report
「Temporary loss ※ 83 —」
No temporary loss related to the suspension of overseas production sites was recognized in the current quarter, compared with ¥83 million in the year-earlier period. - FY2021MaterialisedAnnual report
「The Company recognized as non-operating expenses the fixed costs incurred during the period when some production sites of its overseas consolidated subsidiaries suspended operations in response to requests from governments and other authorities aimed at preventing the spread of COVID-19.」
The Company recognized ¥82 million in fixed costs associated with the suspension of some production sites as a temporary loss, documenting the actual impact of the production stoppage risk in its annual results. - FY2021-Q3MitigatedAnnual report
「Some of the Group's production sites also experienced temporary shutdowns and production cuts due to orders from government and other authorities prohibiting employees from reporting to work. The sites had largely returned to normal operations by the second quarter consolidated accounting period, but depending on the course of a renewed spread of infections, business activities and the Group's ability to secure earnings may be affected.」
The Company states that temporary production stoppages and production cuts actually occurred, but that operations had largely returned to normal by the second quarter consolidated accounting period. The potential impact of a renewed spread of infections remains indicated. - FY2021-Q1First statedAnnual report
「The new business risk arising during the first quarter cumulative consolidated period was the suspension of operations or reduction in production at production sites due to the spread of COVID-19.」
The Company explicitly identifies temporary production stoppages and production cuts at production sites as a new business risk. It recognized ¥83 million in fixed costs during the production stoppage period as non-operating expenses, indicating that the risk actually materialized.