Impact of the Spread of COVID-19 on Operating Results and Financial Condition
First written in FY2020. 4 of 15 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
Shizuki Electric Company moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2025: 6 of 21 companies on the "Worse" side.
7 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「The Group seeks to minimize unforeseen risks, including disasters, pandemics and power outages,」
The disclosure has been reorganized from a description of COVID-19 as an individual business performance risk to a description of business continuity risks covering disasters, pandemics and power outages. - FY2025-H1RestatedAnnual report
「No new business or other risks arose during the current interim consolidated accounting period. In addition, no material changes have occurred in the business and other risks described in the securities report for the previous fiscal year.」
The Company stated that there had been no new developments or material changes in existing business and other risks, including the impact of the spread of COVID-19 on business performance and financial condition. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the economic environment remained on a gradual recovery trend as economic activity normalized, partly because COVID-19 was reclassified under the Infectious Diseases Control Law from Category II to Category V.」
The Company continued to describe the easing of the impact of restrictions on economic activity caused by COVID-19 as a result of the change in its classification under the Infectious Diseases Control Law and the normalization of economic activity. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the economic environment remained on a gradual recovery trend as economic activity normalized, partly because COVID-19 was reclassified under the Infectious Diseases Control Law from Category II to Category V.」
The Company described the easing of the impact of the restrictions on economic activity caused by the spread of COVID-19, following the change in its classification under the Infectious Diseases Control Law and the normalization of economic activity. However, uncertainty about the outlook due to global monetary tightening and other factors remains. - FY2023-Q3MaterialisedAnnual report
「Against this economic backdrop, xEV capacitors recorded a slight year-on-year decline in revenue in the Group’s markets due to downward pressure from the spread of COVID-19 in China and the continuing impact of supply issues affecting electronic components, particularly semiconductors.」
The spread of COVID-19 and downward pressure in China have resulted in a slight decline in revenue from xEV capacitors through production adjustments by customers and other factors. At the same time, the Company stated that there were no material changes in the assumptions used for accounting estimates, including the timing of the end of the pandemic. - FY2023-Q2RestatedAnnual report
「There have been no material changes in the assumptions, including the timing of the end of the COVID-19 pandemic, described in the “Additional Information” section of the securities report for the previous consolidated fiscal year under “Accounting Estimates Concerning the Impact of the Spread of COVID-19.”」
The Company stated that there were no material changes in the assumptions used for accounting estimates concerning the impact of COVID-19. The business environment continues to be affected by the spread of infections and lockdowns in China. - FY2023-Q1MaterialisedAnnual report
「The economic environment during the cumulative first quarter of the current consolidated fiscal year remained uncertain, due to lockdowns in China accompanying the spread of COVID-19, tight supply and demand for electronic components, and soaring material and energy prices resulting from the worsening situation in Ukraine, among other factors.」
The impact of COVID-19 continued in the form of lockdowns in China and production adjustments by customers, affecting the business environment alongside electronic-component supply issues and higher material and energy prices. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the economies of the United States and Europe, in particular, remained on a recovery trend owing to the increasing prevalence of COVID-19 vaccinations and economic measures implemented by governments. Meanwhile, the emergence of new variants led to renewed infections, raising concerns about the impact on the economy going forward.」
Although the economy is on a recovery trend despite the effects of COVID-19, concerns about the outlook remain due to the renewed spread of infections caused by new variants. - FY2022-Q2Recovery trend and intermittent setbacks amid the COVID-19 pandemicAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the economies of the United States and Europe, in particular, remained on a recovery trend owing to the increasing prevalence of COVID-19 vaccinations and economic measures implemented by governments. Meanwhile, waves of renewed infections continued to occur intermittently, and the economic outlook remained uneven.」
Although the economy entered a recovery trend despite the continuing effects of COVID-19, the outlook for the economy has been mixed due to the renewed spread of infections. The Company also stated that there were no material changes in the assumptions used for accounting estimates, including the timing of the end of the pandemic. - FY2022-Q1Recovery in business performance amid the COVID-19 pandemicAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the economies of the United States and Europe, in particular, were on a recovery trend year on year owing to the increasing prevalence of COVID-19 vaccinations and economic measures implemented by governments. Meanwhile, waves of renewed infections caused by variants and other factors continued to occur intermittently, leaving the economic outlook uncertain.」
Although the effects of COVID-19 continued, the economy entered a recovery trend against a backdrop of vaccinations and economic measures, resulting in higher revenue from xEV capacitors and a return to profitability company-wide. However, renewed spread caused by variants and uncertainty remain. - FY2021MaterialisedAnnual report
「Economic activity stagnated and corporate production and personal consumption remained sluggish amid extremely challenging conditions as a result of restrictions on economic activity caused by the spread of COVID-19.」
The adverse effects on business performance and financial condition from the prolonged COVID-19 pandemic identified in the previous fiscal year materialized as a 7.5% decline in full-year sales and a 40.9% decline in operating profit. - FY2021-Q3Continued impact of infectious diseases and signs of recoveryAnnual report
「The global economy during the cumulative first three quarters of the current consolidated fiscal year was in an extremely difficult situation, as corporate production activity and personal consumption stagnated due to restrictions on economic activity resulting from the spread of COVID-19. Although there were signs of a gradual recovery as economic activity gradually resumed, successive waves of COVID-19 infections continued to occur, and the outlook for the economy is expected to remain uncertain, with no room for complacency.」
The impact of COVID-19 continued into the third quarter, resulting in lower demand, lower revenue and lower profit through sluggish production activity and personal consumption. At the same time, the Company reported signs of a gradual recovery accompanying the reopening of economic activity. - FY2021-Q2Continued impact of COVID-19 and signs of recoveryAnnual report
「Although there were signs of a gradual recovery as economic activity began to resume gradually in the second quarter of the current consolidated fiscal year, the outlook for the economy remains uncertain, with no room for complacency given developments in COVID-19 infections in Japan and overseas and US-China trade friction, among other factors.」
Restrictions on economic activity due to COVID-19 continued to affect the second quarter, resulting in lower demand, lower revenue and lower profit, while signs of a gradual recovery accompanying the reopening of economic activity were also reported. - FY2021-Q1MaterialisedAnnual report
「As a result, consolidated revenue for the three months ended was ¥4,514 million, down 16.6% year on year, with sales declining across both Capacitor Modules, where sales of capacitors for home appliances and automotive noise suppression declined, and Power Equipment Systems, where sales of power quality improvement equipment and power factor correction equipment declined.」
The adverse effects on business performance and financial condition from the prolonged COVID-19 pandemic, first identified in the previous fiscal year, have materialized in the form of lower demand, a 16.6% year-on-year decline in sales, an operating loss, and a quarterly net loss attributable to owners of the parent. - FY2020First statedAnnual report
「However, if the situation persists for an extended period, it may adversely affect the Group’s business performance and financial condition, including through lower sales resulting from a slowdown in global economic activity.」
COVID-19 was identified for the first time as a standalone business and other risk, indicating the possibility of lower sales and adverse effects on business performance and financial condition if the situation persisted. The impact on the current consolidated fiscal year was described as immaterial, with the effects expected to become more pronounced in the following consolidated fiscal year.