Impact of the COVID-19 pandemic on the airline industry and investor demand
First written in FY2020-Q2. 5 of 11 entries say "Restated". Latest entry: FY2023-Q2.
4 other companies' latest entry also says "Mitigated".
- FY2023-Q2MitigatedAnnual report
「In accordance with the medium-term management plan, our Group worked to implement various measures and pursued a post-pandemic growth trajectory.」
During the recovery from the impact of the pandemic, we pursued a post-pandemic growth trajectory and explained that the Lease Fund Business had recovered sales of equity investments to pre-pandemic levels. - FY2022MitigatedAnnual report
「Regarding current conditions, economic and social activity is generally moving toward normalisation as a result of policies implemented by governments in various countries and the efforts of individual companies. The company expects its results to recover to pre-pandemic levels as a result of various measures and has determined that the impact of COVID-19 is limited for purposes of its accounting estimates.」
Regarding the impact of the pandemic on the aviation industry and investor demand, we believe that performance is expected to recover to pre-pandemic levels and that the impact on accounting estimates is limited. - FY2022-Q3RestatedAnnual report
「We expect a recovery to pre-pandemic levels, and believe that the impact of the spread of COVID-19 on our business has been limited. If conditions differ from our assumptions, our Group’s performance and financial position could be affected by recording valuation losses or including subsidiaries used as operators of silent partnerships within the scope of consolidation.」
We determined that the impact of the pandemic on our business was limited and continued to expect a recovery to pre-pandemic levels. At the same time, we reserved the possibility of valuation losses or changes to the scope of consolidation if conditions differ from expectations. - FY2022-Q2MitigatedAnnual report
「We believe that the impact of the spread of COVID-19 on our business has been limited. If conditions differ from our assumptions, our Group’s performance and financial position could be affected by recording valuation losses or including subsidiaries used as operators of silent partnerships within the scope of consolidation.」
While we have reached the stage of determining that the impact of the pandemic is limited, we continue to reserve the possibility of valuation losses or changes to the scope of consolidation if conditions differ from expectations. - FY2022-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative accounting period, Japan’s economy showed signs of a gradual recovery as vaccination progressed and restrictions on activities were eased, while the end of the COVID-19 pandemic remained uncertain. However, the outlook became uncertain amid concerns that the emergence of new variants could lead to a further spread of the infection.」
Although the end of the pandemic remained uncertain and there were concerns about the spread of infection caused by new variants, a recovery in economic activity driven by vaccination and the easing of restrictions was also reported. The explanation of pandemic-related risks has continued. - FY2021-Q3RestatedAnnual report
「During the current third-quarter consolidated cumulative period, the effects of the COVID-19 pandemic continued, and conditions remained severe in both the global and Japanese economies. In Japan, the government declared states of emergency twice, in January and April 2021. However, as vaccination programs progressed in countries around the world, signs of a gradual economic recovery emerged, partly because of the effects of various policies.」
Although the severe economic environment caused by the pandemic and its impact on the aviation industry and other sectors have continued, a recovery driven by vaccination and the effects of government policies was also indicated. - FY2021-Q2RestatedAnnual report
「During the current second-quarter consolidated cumulative period, the effects of the COVID-19 pandemic continued, and conditions remained severe in both the global and Japanese economies, with Japan's government declaring a second state of emergency in January. However, as vaccination programs began in countries around the world, signs of a gradual economic recovery emerged, partly because of the effects of various policies.」
Although the severe economic environment caused by the pandemic has continued, a recovery driven by vaccination and the effects of various policies was also reported. - FY2021-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative accounting period, conditions remained severe in both the global and Japanese economies due to the COVID-19 pandemic. However, as countries implemented measures to prevent the spread of infection, signs of a gradual economic recovery emerged, partly because of the effects of various policies.」
Although the severe economic environment caused by the pandemic has continued, a recovery in economic activity was also reported. The impact on financial performance has continued, including valuation losses on AML transactions. - FY2020WorsenedAnnual report
「These effects of COVID-19 need to be reflected in the accounting estimates used when evaluating product equity investments, trusts of money (aircraft for arrangement), aircraft held for sale, goodwill, deferred tax assets and other items in our consolidated financial statements.」
The impact of COVID-19 had reached a point where it affected the valuation of multiple assets and the recoverability of deferred tax assets. We assumed a recovery to pre-pandemic levels during the fiscal year ending September 2023. - FY2020-Q3WorsenedAnnual report
「These effects of COVID-19 need to be reflected in the accounting estimates used when evaluating product equity investments, trusts of money (aircraft for arrangement), aircraft held for sale, goodwill and deferred tax assets in our quarterly consolidated financial statements.」
The impact of COVID-19 had reached a point where it affected the valuation of product equity investments, aircraft for arrangement, aircraft held for sale, goodwill and deferred tax assets. We also indicated the possibility of additional valuation losses or changes to the scope of consolidation if the impact of the spread of the infection differs from expectations. - FY2020-Q2First statedAnnual report
「Further spread or prolongation of COVID-19 could deteriorate economic conditions in countries worldwide, further worsen the performance of the aviation industry, and further reduce investors’ willingness to invest, potentially affecting the performance of our Group.」
We specified the further spread and prolongation of COVID-19, additional deterioration in the aviation industry, and declining investor appetite as matters to be added to or changed in the existing risk disclosures. The aviation industry’s operating environment has already deteriorated, and sales of equity investments and the value of lease transactions arranged have declined.