Risk of Reduced Automotive Demand and Operating Adjustments Due to COVID-19
First written in FY2021-Q1. 4 of 13 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2022: 5 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, no new business or other risks arose. There were also no significant changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there has been no new occurrence or material change concerning the risk of lower automotive demand and operating adjustments due to COVID-19. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, no new business or other risks arose. There were also no significant changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there has been no new occurrence or material change concerning the risk of lower automotive demand and operating adjustments due to COVID-19. - FY2024ReframedAnnual report
「Natural disasters, epidemics, pandemics, wars, terrorism, strikes, demonstrations and other events」
The individual risk of lower automotive demand and operating adjustments due to COVID-19 is classified as a general business interruption risk, including natural disasters, epidemics and pandemics. - FY2024-Q1RestatedAnnual report
「During the first quarter, no new business or other risks arose. There were also no significant changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there has been no new occurrence or material change concerning the risk of lower automotive demand and operating adjustments due to COVID-19. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year under review, there were no newly arising business or other risks. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there has been no new occurrence or material change concerning the risk of lower automotive demand and operating adjustments due to COVID-19. - FY2022WorsenedAnnual report
「In the automotive industry in which the Group operates, the prolonged COVID-19 pandemic may reduce sales volumes at automakers and affect the Group's operating results and financial position.」
The company continues to explicitly identify the decline in automakers' sales volumes due to the prolonged pandemic and the potential impact on its operating results as an annual risk. - FY2022-Q3WorsenedAnnual report
「The spread of COVID-19 has disrupted parts procurement by automakers, affecting automotive production in Japan and overseas. The outlook for the Group's pulley and transmission businesses, among others, therefore remains uncertain.」
Disruptions to parts procurement associated with the spread of the pandemic have affected automotive production in Japan and overseas, as well as the Group's pulley and transmission businesses, and the outlook remains uncertain. - FY2022-Q2WorsenedAnnual report
「However, during the current second-quarter consolidated accounting period, operations at some production facilities were adjusted due in part to the fifth wave of COVID-19 and the semiconductor shortage.」
While describing the recovery of demand and a trend toward normal operations, the company states that operations at some production facilities were adjusted again due to the fifth wave and the semiconductor shortage. - FY2022-Q1MitigatedAnnual report
「The automotive industry in which the Group operates was affected by the spread of COVID-19, but as demand at automakers recovered, the Group also gradually recovered both in Japan and overseas. However, the pandemic has not yet been brought under control, and returning to the business environment that existed before its spread is taking time. In addition, given the potential impact of the semiconductor shortage, the Group has made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, on the assumption that a certain level of impact may continue beyond the current first nine-month period.」
The company states that the impact of COVID-19 on operations and demand is gradually recovering in Japan and overseas. However, containment is not yet in sight, and returning to the pre-pandemic business environment will take time, so risks remain. - FY2021MaterialisedAnnual report
「Amid these circumstances, the Group pursued initiatives including thorough profit generation from its core pulley products, securing profitability for next-generation products, and the use of virtual prototyping. However, production cuts accompanying the spread of COVID-19 had a significant impact」
The company explicitly states that production cuts associated with the spread of COVID-19 had a significant impact on full-year operating results. - FY2021-Q3MitigatedAnnual report
「In response to the spread of COVID-19, the Group had been adjusting operations since April 2020. However, as demand at automakers recovered, operations returned to normal from October 2020. Demand has recovered both in Japan and overseas, but as it is difficult to predict the future spread or containment of COVID-19, future developments may affect the financial position and operating results of the Group.」
The company again describes normal operations from October 2020 and the recovery of demand in Japan and overseas. Meanwhile, uncertainty remains regarding the course of the pandemic and its impact on operating results. - FY2021-Q2MitigatedAnnual report
「In response to the spread of COVID-19, the Group had been adjusting operations since April 2020. However, as demand at automakers recovered, operations returned to normal from October 2020. Although demand has not returned to pre-pandemic levels, it is gradually recovering both in Japan and overseas. However, as it is difficult to predict the future spread or containment of COVID-19, future developments may affect the financial position and operating results of the Group.」
Although operating adjustments and lower demand due to COVID-19 have continued, the company states that operations recovered to normal levels from October 2020 as demand recovered. Uncertainty remains regarding the course of the pandemic and its impact on operating results. - FY2021-Q1MaterialisedAnnual report
「In response to the spread of COVID-19 and the resulting decline in demand at automakers, we had been adjusting operations since April 2020. Although operations have not returned to pre-pandemic levels, they are gradually recovering. However, as it is difficult to predict the future spread or containment of COVID-19, future developments may affect the financial position and operating results of the Group.」
The spread of COVID-19 led to operating adjustments from April 2020 and a decline in demand from automakers. While also describing signs of recovery, the company disclosed the difficulty of predicting future spread or containment and the potential impact on operating results as a new material change.