Global Spread of COVID-19 and Its Impact on Business
First written in FY2020. 7 of 8 entries say "Restated". Latest entry: FY2023-Q2.
The whole theme swung hardest in 2024: 3 of 9 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the cumulative second quarter, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures.」
The decline in demand for commercial aircraft and medium-volume products, lower revenue, production adjustments and the impact on asset valuations resulting from COVID-19 continued into the second quarter. - FY2023-Q1RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the cumulative first quarter, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures. COVID-19 is an event with a broad impact on the economy and corporate activities, and because it is difficult to predict how it will spread or when it will subside, the Group is examining its impact on its business plans and making accounting estimates, including asset valuations, based on assumptions suited to the characteristics of its products and the relevant market environment, while taking external information and other factors into account. If the impact continues for an even longer period, further production adjustments and additional declines in sales to customers could occur, potentially affecting the Group’s financial position and operating results from the next consolidated quarter onward.」
The decline in demand for commercial aircraft and medium-volume products, lower revenue, production adjustments and the impact on asset valuations have continued, and the Group has also described the possibility of additional production adjustments and lower sales if the pandemic becomes prolonged. - FY2022-Q2RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the cumulative second quarter, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures.」
The decline in demand for commercial aircraft and medium-volume products, lower revenue, production adjustments and the impact on asset valuations resulting from COVID-19 continued into the second quarter. - FY2022-Q1RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the cumulative first quarter, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures.」
The decline in demand for commercial aircraft and medium-volume products, lower revenue, production adjustments and the impact on asset valuations resulting from COVID-19 continued into the first quarter. - FY2021RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the current consolidated fiscal year, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures.」
The decline in demand for commercial aircraft and medium-volume products, production adjustments and the impact on asset valuations continued throughout the fiscal year. - FY2021-Q2RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the cumulative second quarter, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures.」
The decline in demand for commercial aircraft and medium-volume products, lower revenue and production adjustments resulting from COVID-19 continued into the second quarter, and the effects were reflected in asset valuations and other estimates. - FY2021-Q1RestatedAnnual report
「Following the spread of COVID-19, the Group’s commercial aircraft and medium-volume products businesses, among others, have experienced lower revenue due to declining demand, factory production adjustments and other effects. During the cumulative first quarter, these effects were incorporated into asset valuations and other estimates and reflected in the financial results and other figures.」
The decline in demand for commercial aircraft and medium-volume products, lower revenue and factory production adjustments resulting from COVID-19 continued into the first quarter. - FY2020MaterialisedAnnual report
「These major risks could materialize within 10 years. In particular, “(1) the spread of COVID-19” and “(2) delays in the development of the Mitsubishi SpaceJet” are risks that have already materialized and have a significant impact on the Group.」
The Group identified COVID-19 as a major risk under a separate item for the first time, stating that the slowdown in the global economy, delays in overseas projects, supply chain disruptions, and declining demand for commercial aircraft and medium-volume products had already occurred. It also described the impact on its order-based business, which accounts for approximately two-thirds of sales.