Operating and Liquidity Risks from the Spread of COVID-19
First written in FY2020. 3 of 12 entries say "Softened", first in FY2023-Q3. Latest entry: FY2026.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2026SoftenedAnnual report
「The global economy during the consolidated fiscal year overall showed a gradual recovery trend. However, uncertainty remained over the outlook, amid concerns about the negative impact of U.S. tariff policies and rising geopolitical risks, including the unstable situation in the Middle East.」
References to operating and liquidity risks directly attributable to COVID-19 have receded, with the focus shifting to general external-environment risks such as tariff policies and geopolitical risks. - FY2024-Q1SoftenedAnnual report
「As the impact of COVID-19 subsided, revenue increased substantially year on year, reflecting increased orders for spare and service parts for power generator turbines and successful business development for compressor bearings used in oil-refining plants.」
The impact of COVID-19 was described as having settled down, and its impact on business has weakened from the previous fiscal year. - FY2023-Q3SoftenedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, the global economy saw economic activity normalize as the impact of COVID-19 eased, and signs of recovery emerged in the economies of developed countries such as Japan, Europe and the United States. In the automotive industry, production gradually recovered in the United States and China despite the impact of shortages of semiconductors and parts.」
The impact of COVID-19 eased, and economic activity normalized while production recovered in the United States and China, so the direct business impact of the pandemic was described as weaker than in the previous fiscal year. However, the impact of supply shortages and other factors continues. - FY2023-Q2RestatedAnnual report
「During the six-month period ended this quarter, economic activity was increasingly normalised as the impact of COVID-19 eased, and developed economies including Japan, Europe and the United States showed signs of recovery. However, the business environment remained challenging and the outlook uncertain because of production cuts by major automotive customers due to shortages of semiconductors and components, higher raw material and energy prices resulting from the prolonged situation in Ukraine, global inflation, and the significant depreciation of the yen.」
Although the impact of the pandemic eased and economic activity normalized, uncertainty in business operations and liquidity due to shortages of semiconductors and parts, customer production cuts, and soaring raw material and energy prices continues. - FY2023-Q1The impact of the pandemic is easing, but the Shanghai lockdown and supply constraints continue.Annual report
「During the first quarter of the current consolidated cumulative period, the global economy saw economic activity normalize as the impact of COVID-19 eased and economies in developed countries such as Japan, Europe and the United States began to recover. In the automotive industry, however, semiconductor shortages, the spread of COVID-19 and the Shanghai lockdown in China resulted in production cuts by automakers」
Although the impact of the pandemic eased and economic activity normalized, the spread of infection and the Shanghai lockdown, together with semiconductor shortages, were already affecting automakers' production cuts. - FY2022-Q2Economic recovery continues, but uncertainty from supply constraints remains.Annual report
「During the six-month period ended this quarter, economic activity was increasingly normalised, particularly in developed countries in Europe and the United States, where vaccinations were progressing, and the economy was gradually recovering. However, the outlook remained uncertain because of shortages of industrial products resulting from the resurgence of COVID-19, particularly in Southeast Asia, and the impact of production cuts by automakers caused by the continuing global shortage of semiconductor supplies.」
Although economic activity is normalizing and demand is recovering, uncertainty regarding production and liquidity due to renewed infections, shortages of industrial products and semiconductor supply shortages continues. - FY2022-Q1Economic recovery is progressing, but uncertainty from variants and supply shortages continues.Annual report
「During the three-month period ended this quarter, the global economy remained firm as economic activity recovered in Europe and the United States, where COVID-19 vaccinations were progressing, as well as in China, where economic expansion continued. However, the outlook remained uncertain because of concerns over a resurgence of COVID-19 and a global shortage of semiconductors.」
Economic conditions improved, particularly in China, Europe and the United States, and demand for our Group's products also recovered. However, uncertainty from renewed spread of infections and semiconductor shortages continues. - FY2021Recovery underway, but uncertainty continues.Annual report
「Production in our Group fell substantially through approximately the second quarter of the fiscal year ending March 2021 because of the spread of COVID-19, but began to recover in the third quarter. We expect the recovery in performance to continue steadily, but the outlook for the spread of COVID-19 and the timing of its containment remains uncertain, and actual results may differ from these assumptions.」
Production shifted from a substantial decline through the second quarter to a recovery trend in the third quarter, while uncertainty over the spread of infection and the timing of its containment continues. - FY2021-Q3WorsenedAnnual report
「During the nine-month period ended this quarter, the global economy showed signs of a slowdown in its recovery as the prolonged COVID-19 pandemic and resurgence of infections led to tighter activity restrictions in some regions. However, economic activity was increasingly normalised in countries including China, and signs of a bottoming-out were also seen in Asian countries and elsewhere.」
Although economic activity is normalizing and the decline appears to have bottomed out, the recovery has slowed because of the prolonged and renewed spread of infections and restrictions on activity, and the impact of the pandemic risk continues. - FY2021-Q2Recovery has begun, but approximately 2 years are expected to be needed to return to pre-pandemic levels.Annual report
「Production volumes in our Group began to recover from the second quarter of the current fiscal year. However, based on production forecasts from major automakers and other companies in each country and various economic forecasts, we expect it to take approximately 2 years to return to pre-pandemic levels.」
Production volumes began recovering in the second quarter, but we estimate that approximately 2 years will be needed to return to pre-pandemic levels, specifying the likely duration of the prolonged impact. - FY2021-Q1MaterialisedAnnual report
「The economy slowed sharply as a result of the spread of COVID-19. In Japan, restrictions on going out were also imposed because of the impact, personal consumption declined, production activity stagnated, and substantial production cuts continued in automobile manufacturing.」
The spread of COVID-19, identified as a material risk in FY2020, actually affected operations in the first quarter of the current fiscal year through the economic slowdown, stagnation in production, and substantial cuts in automobile production. - FY2020First statedAnnual report
「If the decline in sales and other effects of COVID-19 persist beyond the period initially assumed, they may affect the performance and liquidity of our Group. In addition, if employees become infected with COVID-19 and the infection spreads within the company through contact among employees, we may be forced to suspend plant operations, potentially disrupting production and shipments.」
The spread of COVID-19 was identified as a new material risk, and production volumes are being adjusted in each country, including through temporary plant closures. The assumptions are for a production decline in the first quarter of the fiscal year ending March 2021, a recovery in the second quarter, and a return to normal levels by the fiscal year ending March 2022.