Demand and business activity risks arising from COVID-19
First written in FY2020. 3 of 10 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024-Q1.
2 other companies' latest entry also says "Mitigated".
- FY2024-Q1MitigatedAnnual report
「Global unit sales for the first quarter of the consolidated fiscal year increased 32.4% year on year to 309 thousand units, reflecting a recovery from supply constraints associated with last year's Shanghai lockdown and the contribution of the large-vehicle lineup introduced in the previous consolidated fiscal year.」
Global sales recovered from supply constraints associated with the Shanghai lockdown, increasing 32.4% year on year. The supply impact of the pandemic in the previous year was described as having subsided. - FY2023Shift in the phase of the pandemic’s impactAnnual report
「While the business environment surrounding the Group is improving as the global stagnation of economic activity caused by COVID-19 is being resolved and the Japanese government is easing restrictions on movement, thereby progressing the normalization of economic activity,」
While the global stagnation of economic activity was considered to be easing, parts procurement shortages caused by the Shanghai lockdown led to lower production and shipments in the first half of the fiscal year. - FY2023-Q3Lockdown impacts continued, but the decline in sales narrowedAnnual report
「China sales fell 46.1% year on year to 72 thousand units because the major model cycle had run its course, compounded by production cuts and restrictions on sales activities resulting from lockdowns.」
Production cuts and restrictions on sales activities resulting from lockdowns implemented as a COVID-19 countermeasure continued to weigh on sales in China. Meanwhile, total global sales recovered to a 4.1% year-on-year increase in the third quarter alone. - FY2023-Q2Pandemic impacts continued, but the decline in sales narrowedAnnual report
「Global unit sales for the first six months of the consolidated fiscal year decreased 22.1% year on year to 514 thousand units due to the impact of parts procurement shortages resulting from the Shanghai lockdown. Sales from August onward recovered to approximately the same level as in the same period of the previous year.」
Parts procurement shortages associated with the Shanghai lockdown continued to weigh on sales, but the rate of decline narrowed from 34.0% in FY2023-Q1 to 22.1%, and sales recovered to approximately the previous-year level from August onward. - FY2023-Q1WorsenedAnnual report
「Production and shipments fell because parts procurement was constrained by the Shanghai lockdown implemented as a COVID-19 countermeasure, resulting in 233 thousand units, down 34.0% year on year.」
The Shanghai lockdown implemented as a COVID-19 countermeasure led to lower production and shipments through parts procurement shortages, resulting in global sales falling 34.0% year on year. - FY2022-Q3MaterialisedAnnual report
「The ¥8.861 billion loss associated with suspended operations and other effects of COVID-19 represents fixed costs and other expenses incurred while the Company reduced operations at its factories because parts shortages resulted from suppliers restricting operations at the request of governments amid the spread of COVID-19 in Southeast Asia.」
Supplier operating restrictions and parts shortages caused by the resurgence of infections led to a reduction in factory operations, resulting in ¥8.861 billion of fixed costs and other expenses being recorded as a loss. - FY2022-Q2Partial easing of pandemic impacts and continued semiconductor shortagesAnnual report
「From the third-quarter consolidated accounting period onward, parts shortages associated with the spread of COVID-19 were assumed to be gradually easing, although production volumes and consolidated shipment volumes were expected to remain affected to a certain extent, including by semiconductor shortages」
The shortage of parts supplies resulting from the spread of infections was expected to ease gradually, and no loss from suspended operations in the previous year was incurred in the current quarter. At the same time, the impact of semiconductor shortages on production and shipments was assumed to remain. - FY2021-Q2WorsenedAnnual report
「The ¥20.460 billion loss associated with the suspension of operations due to COVID-19 represents fixed costs and other expenses incurred while overseas production sites suspended operations at the request of governments, and while factories suspended operations after governments in various countries declared states of emergency and implemented measures to contain the spread of infections by restricting economic activity.」
¥20.460 billion in fixed costs and other expenses related to the suspension of overseas production sites and other facilities due to the pandemic was recorded as an extraordinary loss. The effects of weaker demand and suspended operations continued through the cumulative second quarter. - FY2021-Q1WorsenedAnnual report
「The ¥20.460 billion loss associated with the suspension of operations due to COVID-19 represents fixed costs and other expenses incurred while overseas production sites suspended operations at the request of governments, and while factories suspended operations after governments in various countries declared states of emergency and implemented measures to contain the spread of infections by restricting economic activity.」
Overseas production sites and other facilities suspended operations due to the pandemic, and ¥20.460 billion in fixed costs and other expenses was recorded as an extraordinary loss. The disclosure also describes impacts on sales, production adjustments, and financing. - FY2020MaterialisedAnnual report
「Global unit sales for the consolidated fiscal year decreased 9.1% year on year to 1,419 thousand units, reflecting shrinking demand in major markets and the impact of COVID-19, among other factors.」
The global spread of COVID-19 led to lower sales, higher inventories, production adjustments, and impacts on the supply chain. The disclosure also describes potential additional adverse effects from a further spread of infections and regulatory measures in various countries.