Deterioration in the outlook for the global economy due to the spread of COVID-19
First written in FY2020-Q2. 6 of 17 entries say "Mitigated", first in FY2020. Latest entry: FY2024.
Hks 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 2019: 13 of 36 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2024ReframedAnnual report
「If a new infectious disease spreads globally in the future, it will be difficult to foresee the scale of its spread or the timing of its containment, making its impact on performance difficult to predict.」
The risk discussion shifted from the current impact of COVID-19 to the uncertainty surrounding the emergence and global spread of a new infectious disease in the future and its impact. - FY2024-Q1MitigatedAnnual report
「During the three-month period, Japan’s economy recovered moderately as economic activity normalized following the easing of restrictions related to COVID-19.」
The easing of restrictions related to COVID-19 and the normalization of economic activity progressed, and the impact of COVID-19 on economic activity was described as easing. - FY2023ReframedAnnual report
「The impact of reduced production by contract manufacturers and revisions to development plans resulting from the spread of COVID-19 is gradually moving toward normalization. However, if a new infectious disease spreads globally in the future, it will be difficult to foresee the scale of its spread or the timing of its containment, making its impact on performance difficult to predict.」
The discussion shifted to the view that the impact of COVID-19 on contract manufacturers is gradually moving toward normalization, while uncertainty centered on a potential new infectious disease in the future remained a risk. - FY2023-Q3MitigatedAnnual report
「With COVID-19 reclassified under the Infectious Diseases Control Law as a Category V infectious disease and restrictions on activity being eased as society adapted to living with COVID-19, the economy recovered moderately.」
The reclassification of COVID-19 as a Category V infectious disease and the easing of restrictions on activity progressed, and the impact of COVID-19 on economic activity was described as easing. - FY2023-Q2MitigatedAnnual report
「During the six-month period, Japan’s economy continued to show signs of recovery, supported by accommodative financial conditions and the effects of government economic measures, even as it faced downward pressure from higher resource prices and a slowdown in overseas economies, while the impact of COVID-19 and supply constraints eased.」
The impact of COVID-19 on economic activity was described as easing, along with the impact of supply constraints. - FY2023-Q1MitigatedAnnual report
「Although downward pressure remained from a slowdown in overseas economies caused by higher resource prices and global inflationary pressure, the economy showed signs of recovery as supply constraints eased, efforts to control COVID-19 were balanced with economic activity, and the effects of accommodative monetary policy and government economic measures provided support.」
It was stated that Japan’s domestic economy showed signs of recovery as efforts to control infections and sustain economic activity progressed. - FY2022WorsenedAnnual report
「Japan’s economy during the consolidated fiscal year remained in difficult conditions. It showed signs of recovery temporarily due to progress in vaccinations against COVID-19 and various government policies, but economic activity was restricted again as infections resurged following the emergence of new variants. The impact of public health measures, including lockdowns in Shanghai and elsewhere, also spread to the domestic economy.」
The disclosure described a resurgence of infections due to new variants, renewed restrictions on economic activity, and spillover effects from lockdowns in Shanghai and elsewhere, indicating continued uncertainty in the economic environment caused by COVID-19. - FY2022-Q3MitigatedAnnual report
「A broad-based recovery was seen, supported by progress in vaccinations, the easing of the impact of COVID-19 on social and economic activity following the full lifting of the government’s priority preventive measures, and the effects of various economic measures.」
It was stated that progress in vaccinations and the full lifting of priority preventive measures eased the impact of COVID-19 on social and economic activity, and that the economy showed signs of recovery. - FY2022-Q2WorsenedAnnual report
「During the six-month period, concern arose over the impact on the economy as the areas subject to priority preventive measures were temporarily expanded to 36 prefectures due to the rapid spread of the Omicron variant from the beginning of the year.」
The rapid spread of the Omicron variant and the application of priority preventive measures in as many as 36 prefectures were newly described, increasing concern about the impact of infections on economic activity. - FY2022-Q1ReframedAnnual report
「However, rapid economic recoveries in developed countries, led by the United States, and the resurgence of COVID-19 infections in Asia have resulted in global supply constraints, including shortages of materials such as semiconductors, disruptions in logistics such as ocean transport, and difficulties procuring parts due to supply chain disruptions. The situation also remains unpredictable with respect to infection trends and their impact on domestic and overseas economies.」
Infection-related risks were framed as uncertainty accompanying the economic recovery, including a resurgence of infections in Asia, supply constraints, logistics disruptions, and difficulties procuring parts. - FY2021ReframedAnnual report
「Although there is a risk that the spread of COVID-19 will adversely affect the Group’s performance and financial position, as both contract manufacturing and contract development sales have declined due to reduced production by contract manufacturers and revisions to development plans, the scale of the spread and the timing of its containment remain unforeseeable, making it difficult to predict the impact on performance at this time.」
While infection-related risks have continued to materialize as declining sales in the contract businesses, the discussion also noted vaccinations and a recovery in economic activity, shifting its focus to uncertainty over the impact. - FY2021-Q3WorsenedAnnual report
「During the nine-month period of the current fiscal year, a 3rd state of emergency and priority preventive measures were introduced in April 2021 due to the renewed spread of COVID-19. This restricted the movement of people and caused economic activity to stagnate again, leaving the outlook still uncertain.」
The worsening of infection-related risks continued as a third state of emergency and other measures were declared due to the resurgence of infections, causing economic activity to stagnate again. - FY2021-Q2WorsenedAnnual report
「Personal consumption weakened following the reissuance of a state of emergency in January 2021, and difficult conditions continued in some non-manufacturing industries. In addition, concern about the spread of infections could not be dispelled, as variants of COVID-19 were identified in Japan and overseas, and the economic outlook therefore remains uncertain.」
The disclosure described the spread of infection, the reissuance of the state of emergency, weak personal consumption, difficult conditions in non-manufacturing industries, and the identification of variants, with continued concern about the impact on economic activity. - FY2021-Q1WorsenedAnnual report
「However, concern remains about the impact of a resurgence of infections on economic activity, and the outlook for the economy remains uncertain.」
While signs of a recovery in economic activity were noted in connection with COVID-19, concern remains about the impact of a resurgence of infections, and the outlook continues to be uncertain. - FY2020MitigatedAnnual report
「In response to COVID-19, the Group has implemented thorough measures prioritizing employee safety and health, including daily temperature checks and health monitoring. Depending on the situation, business trips and meetings are generally prohibited and replaced with web conferences, while safety measures such as working from home have been implemented at sales offices.」
Specific measures addressing the risk of infection, including daily temperature checks and health monitoring, restrictions on business trips and meetings, web conferences, and working from home, were described. - FY2020-Q3MaterialisedAnnual report
「The impact of the spread of COVID-19 may affect the Group’s financial position, operating results and other matters depending on how the situation develops. During the nine-month period of the fiscal year, Japan’s economy initially recovered moderately as employment and the income environment continued to improve, but economic conditions deteriorated sharply due to the impact of COVID-19 on the global economy as a whole.」
The risk section continues to describe the impact on the financial position and operating results as a possibility, while the performance analysis now specifically describes the sharp deterioration in the global and domestic economies, the stagnation of economic activity resulting from the state of emergency, and declining sales. - FY2020-Q2First statedAnnual report
「The outlook remains challenging due to the impact of the spread of COVID-19 on the global economy as a whole.」
The spread of COVID-19 and its impact on the global economy were described for the first time as factors making the outlook for the business environment challenging. No specific losses to the Company’s performance resulting from the spread were disclosed.