Impact of the Spread of COVID-19 on Economic Activity
First written in FY2020-Q2. 6 of 15 entries say "Restated". Latest entry: FY2023.
Upr moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 110 of 173 companies on the "Worse" side.
17 other companies' latest entry also says "Softened".
- FY2023SoftenedAnnual report
「Economic activity is gradually recovering following the reclassification of COVID-19 as a Category 5 infectious disease, but the spread of a new variant could materially affect the Group's business and results of operations.」
The company describes the reclassification as a Category 5 infectious disease and the recovery in economic activity, indicating that the pandemic's impact on the real economy has weakened compared with before, while the risk from a new variant remains. - FY2023-Q3SoftenedAnnual report
「During the cumulative third quarter, the classification of COVID-19 under the Infectious Diseases Control Law was changed to Category 5. Socioeconomic activity continued to recover towards normalisation, and the economy showed signs of a moderate recovery.」
The company states that COVID-19 was reclassified as a Category 5 infectious disease and that socioeconomic activity entered a recovery trend towards normalisation. Meanwhile, it continues to monitor the impact on its business. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year. The company will continue to closely monitor the impact of the spread of COVID-19 on its business.」
The company states that there were no new risks or material changes to existing risks, while continuing to monitor the impact of COVID-19 on its business. - FY2023-Q1SoftenedAnnual report
「The number of COVID-19 cases began to decline, and economic activity gradually moved towards normalisation as various restrictions were eased under the living-with-COVID approach, but」
The company states that economic activity gradually moved towards normalisation as case numbers declined and restrictions were eased. Meanwhile, it continues to closely monitor the impact on its business. - FY2022RestatedAnnual report
「The company expects economic activity to recover gradually as vaccinations progress, but the spread of a new variant could materially affect the Group's business and results of operations.」
While assuming a recovery in economic activity, the company reconfirmed the risk of the spread of a new variant and its health and workplace measures. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year. The company will continue to closely monitor the impact of the spread of COVID-19 on its business.」
The company states that there were no new risks or material changes to existing risks, while continuing to monitor the impact of the spread of COVID-19 on its business. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter, the economic environment showed a pause in the recovery driven by the gradual reopening of economic activity, as the emergence of the Omicron variant of COVID-19 led to the implementation of priority preventive measures to prevent the spread of disease.」
The company states that the emergence of the Omicron variant and priority preventive measures to prevent the spread of disease caused the recovery in economic activity to pause. The pandemic also affected storage demand and new initiatives in the logistics business, as well as sales activities for assist suits. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year. The company will continue to closely monitor the impact of the spread of COVID-19 on its business.」
The company states that there were no new risks or material changes to existing risks, while continuing to monitor the impact of COVID-19 on its business. - FY2021WorsenedAnnual report
「The Group serves a broad range of customers across various industries, sizes and regions. The impact of COVID-19 on the Group's results included both negative and positive effects, but because the pandemic lasted longer than expected, the negative effects became more pronounced throughout the year.」
The company states that the prolonged pandemic caused negative effects to remain pronounced throughout the year, including weak demand for rental pallets for storage and sluggish new customer acquisition. - FY2021-Q3WorsenedAnnual report
「The Group serves a broad range of customers across various industries, sizes and regions. The impact of COVID-19 on the Group's results included both negative and positive effects, but the negative effects became more pronounced as the pandemic persisted.」
The company states that the prolonged pandemic intensified the negative effects. Specific factors included weak demand for rental pallets for storage, sluggish new customer acquisition and prolonged restrictions on sales activities due to the third declaration of a state of emergency and other measures. - FY2021-Q2MaterialisedAnnual report
「On the negative side, the rental pallet business for storage was affected to some extent by extended production adjustments resulting from the prolonged impact of COVID-19, a decline in imported cargo caused by container shortages, and lower inventories resulting from increased exports following the reopening of economic activity in China. It was also affected by restrictions on sales activities, which reduced the number of new customers acquired. On the positive side, in the rental pallet business for transportation, volumes handled for joint use and collection by household paper manufacturers and for brown rice transportation increased, partly because of improved logistics efficiency during the pandemic. Taking these negative and positive factors together, the Group minimised the negative impact on its business.」
The prolonged pandemic, production adjustments, container shortages and restrictions on sales activities affected rental pallets for storage and new customer acquisition. However, positive factors, including increased volumes handled by rental pallets for transportation, helped minimise the negative impact. - FY2021-Q1RestatedAnnual report
「The impact of COVID-19 temporarily slowed sales growth as the economy weakened and face-to-face sales activities were restricted. However, the Group recognises that the impact on its results was limited because it serves a broad range of customers across various industries, sizes and regions.」
Although the economic slowdown and restrictions on face-to-face sales temporarily slowed sales growth, the company states that the impact on results was limited because of its broad customer base. - FY2020RestatedAnnual report
「The company recognises that the overall impact of COVID-19 in the fiscal year ended August 2020 was limited. However, if the situation persists and the infection spreads explosively, it could materially affect the Group's business and results of operations.」
Although the pandemic affected the economy and business, the company recognises that its impact on overall results for the period was limited, while continuing to highlight the risks of prolonged duration and explosive spread. - FY2020-Q3MaterialisedAnnual report
「During the third quarter of the current consolidated cumulative period, corporate performance deteriorated and employment and income conditions stagnated due to the impact of COVID-19. Economic activity has gradually resumed while measures are taken to prevent the spread of infection, but concerns about the risk of a second wave remain, and the outlook continues to be uncertain.」
The company states that the deterioration in corporate performance and stagnation in employment and income conditions caused by COVID-19 had in fact affected economic activity. However, it recognises that the overall impact on the Group's results, including both positive and negative effects, was limited. - FY2020-Q2First statedAnnual report
「COVID-19 is spreading rapidly worldwide, raising concerns about its impact on economic activity in Japan and overseas and increasing uncertainty about the outlook. The company will continue to closely monitor the impact of the spread of COVID-19 on its business.」
The company explicitly disclosed for the first time the global spread of COVID-19 and concerns about its impact on economic activity. It did not state that any specific impact on the business had yet occurred, and said it would continue to monitor developments closely.