Deterioration of the Economic and Financial Environment Due to COVID-19
First written in FY2021-Q2. 2 of 7 entries say "Worsened", first in FY2021. Latest entry: FY2025-H1.
The First Bank Of Toyama moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
6 other companies' latest entry also says "Other".
- FY2025-H1Regional economies are recovering gradually while the effects of the earthquake remain.Annual report
「Although the effects of the 2024 Noto Peninsula Earthquake remain in the Hokuriku region, which is the foundation of the Group's business, the economy is gradually recovering, supported by reconstruction and recovery demand and the effects of the Hokuriku Shinkansen extension to Tsuruga.」
The company stated that although the effects of the Noto Peninsula Earthquake remained in the Hokuriku region, the economy was gradually recovering due to reconstruction and recovery demand and the effects of the extension of the Hokuriku Shinkansen. - FY2024-Q2Economic Normalization After COVID-19 Alongside Downside FactorsAnnual report
「Looking back at the first half of FY2023, the normalization of social and economic activity progressed further after COVID-19 was reclassified as a Category V infectious disease in May. Although the economy continued to be affected by the slowdown in overseas economies, high raw-material prices, and labor shortages, real GDP growth remained positive and the economy showed a gradual recovery.」
The company stated that the normalization of social and economic activity progressed as COVID-19 was reclassified as a Category V infectious disease, while the impact of the slowdown in overseas economies, high raw-material prices, and labor shortages continued. quantified: false, materialized: true. - FY2023-Q2Continued Downside Risk from a Renewed Spread of COVID-19 Despite Progress in the Regional Economic RecoveryAnnual report
「Under these economic conditions, recent economic trends in the Hokuriku region, the Bank's main operating base, have shown a clear recovery, with the regional economy judged to be “recovering gradually.” At the same time, close attention must be paid to the increased burden on companies from rising raw-material prices, supply-side constraints, and the risk of an economic downturn caused by a renewed spread of infectious diseases.」
Although signs of recovery became clearer in the Hokuriku region, the company continued to disclose downside risks to the economy from rising raw-material prices, supply constraints, and a renewed spread of infectious diseases. The renewed spread of infectious diseases was described as an actual condition. quantified: false, materialized: true. - FY2022WorsenedAnnual report
「Looking back at FY2021, the domestic economy showed a gradual recovery as the spread of COVID-19 occurred intermittently and restrictions on and easing of economic activity were repeated. However, personal consumption slowed again as infections with the Omicron variant surged at the beginning of the year, and conditions remain subject to the infection situation.」
In addition to the renewed slowdown in personal consumption caused by the rapid spread of the Omicron variant, the company described the impact of surging raw-material prices and economic sanctions against Russia, indicating that uncertainty surrounding infectious-disease and economic-environment risks was continuing and expanding. - FY2022-Q2Progress in the Economic Recovery and Continued Supply Constraints and Impact of COVID-19Annual report
「Against this backdrop, Japan's economy has shown a weaker recovery than those of Europe and the United States, as states of emergency were declared intermittently amid the spread of variants and real GDP for April–June, based on the second preliminary estimate, increased 1.9% quarter on quarter at an annualized rate.」
The company states that although real GDP in Japan increased 1.9% quarter on quarter at an annualized rate, states of emergency continued because of variants and the recovery was weaker than in Europe and the United States. It also indicated the risk that a prolonged period of supply constraints could delay the economic recovery. - FY2021WorsenedAnnual report
「In 2021, a second state of emergency was declared in the major metropolitan areas amid the spread of the third wave of infections. Personal consumption declined again as the end of the infections could not be foreseen, and the economic outlook remains clouded by uncertainty.」
The company described the third wave, the second state of emergency, the renewed decline in personal consumption, and the uncertainty surrounding the containment of infections, indicating that the economic risks associated with COVID-19 were continuing and worsening. - FY2021-Q2First statedAnnual report
「Looking back at the first half of FY2020, the global economy slowed sharply as economic activity was severely restricted across a wide range of areas worldwide to prevent the spread of COVID-19. In Japan, requests to refrain from going out and from operating stores spread nationwide following the state of emergency declared in April, causing personal consumption to decline sharply. External demand also fell significantly because of the disappearance of inbound demand and the stagnation of economic activity in Europe and the United States. Real GDP for April–June, based on the second preliminary estimate, contracted at an annualized quarter-on-quarter rate of 28.1%, marking a sharp contraction greater than that immediately after the Lehman shock.」
The company identified, for the first time, the global economic slowdown caused by COVID-19, the downside in Japanese personal consumption and external demand, and real GDP growth of negative 28.1% quarter on quarter at an annualized rate as risks that had actually materialized in the economic and financial environment.