Uncertainty in the business environment due to the spread of the novel coronavirus
First written in FY2020-Q3. 5 of 14 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2026.
Meiwa Industry moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2019: 17 of 44 companies on the "Worse" side.
23 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Prompted by the spread of COVID-19, which was reclassified as a Class 5 infectious disease, the group continues to implement measures including responses when infected individuals are identified, thorough hygiene management, reviews of working practices and revisions to related systems, and the establishment of flexible production systems to accommodate fluctuations in orders.」
The company continues to respond to infected individuals, maintain hygiene management, review working practices and establish flexible production systems after COVID-19 was reclassified as a Class 5 disease. - FY2024-Q1MitigatedAnnual report
「In Japan, economic and social activity is normalizing as COVID-19 was reclassified under the Infectious Diseases Control Law as a Class 5 disease. Personal consumption and inbound demand have increased, and the economy is on a gradual recovery trend, but conditions continue to warrant close attention due to soaring resource and energy prices and rising prices.」
The reclassification of COVID-19 as a Class 5 disease and the normalization of economic and social activity are noted, indicating that the infectious-disease risk to the business environment is easing from the deterioration through the previous fiscal year. However, sources of uncertainty such as soaring resource and energy prices remain. - FY2023-Q3MitigatedAnnual report
「During the current 3rd quarter cumulative consolidated period, economic and social activity was normalizing and the economy showed signs of recovery, while conditions remained unpredictable due to soaring resource and energy prices resulting from the prolonged situation in Ukraine, monetary tightening in the US and Europe as inflation progressed, and sharp exchange-rate fluctuations.」
Although the impact of COVID-19 has been prolonged, the company states that economic and social activity is normalizing and the economy is recovering. Risks to the business environment from the infectious disease remain, but factors indicating an easing from the deterioration through the previous fiscal year are noted. - FY2023-Q1WorsenedAnnual report
「During the current 1st quarter cumulative consolidated period, economic conditions remained unpredictable despite signs of a recovery in personal consumption following the easing of restrictions on activity, due to the renewed spread of the novel coronavirus caused by a new variant, supply-chain disruptions from lockdowns in Chinese cities and soaring resource and energy prices resulting from the prolonged situation in Ukraine.」
While demand is recovering and restrictions on activities are being eased, infections have resurged due to a new variant and supply chains have been disrupted by city lockdowns in China, increasing uncertainty in the business environment through infectious-disease and supply-chain risks. - FY2022MitigatedAnnual report
「COVID-19 had a significant impact on the automotive and housing-equipment industries in which the group operates, but demand is generally recovering, although conditions differ by country and region. Vaccinations are gradually progressing and the number of infected people is declining, but production adjustments by customer manufacturers could affect the group’s results, including through lower sales, due to lockdowns in regions where infections have resurged and challenges such as semiconductor shortages resulting from the sharp drop in demand and subsequent recovery.」
Although the significant impact of the infectious disease continues and risks of production adjustments through lockdowns and semiconductor shortages remain, demand is generally described as recovering, indicating an easing from the deterioration caused by variants in the previous quarter. - FY2022-Q3WorsenedAnnual report
「The economy has been forced to slow as the number of infections has surged due to a new variant.」
The surge in infections caused by a new variant is identified as an actual factor behind the economic slowdown, indicating that uncertainty in the business environment due to the infectious disease has intensified from the previous quarter. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, economic conditions were recovering in countries including the United States as vaccinations spread and economic measures took effect. In Japan, the number of new infections declined and signs of an economic recovery were seen, but concerns about the risk of renewed infections remain, and conditions continue to warrant close attention.」
While an economic recovery and a decline in new infections in Japan are noted, the company states that the risk of renewed infections remains and that conditions continue to warrant close attention, indicating continued uncertainty related to the infectious disease. - FY2022-Q1MaterialisedAnnual report
「During the cumulative first quarter of the current fiscal year, economic conditions improved in the United States, Europe and China as vaccinations spread and economic measures took effect. In Japan, signs of an economic recovery were also seen, including increases in exports and capital investment. However, the outlook remains uncertain, as renewed infections caused by variants are currently suppressing personal consumption and production activity.」
The renewed spread of infections caused by variants, which had been described as a possibility in the previous fiscal year, actually occurred and is stated to be suppressing personal consumption and production activity. At the same time, signs of an economic recovery are also noted. - FY2021WorsenedAnnual report
「COVID-19 had a significant impact on the automotive and housing-equipment industries in which the group operates, but demand is generally recovering, although conditions differ by country and region. Vaccinations are gradually progressing and the number of infected people is declining, but there is a possibility of renewed spread of infections, including the spread of variants. In addition, the sharp drop in demand and subsequent recovery have created challenges such as semiconductor supply shortages, and production adjustments by customer manufacturers could affect the group’s results, including through lower sales.」
While a recovery in demand is noted, the company explicitly identifies renewed spread of infections caused by variants and semiconductor shortages as new sources of uncertainty and channels of impact, and describes infectious-disease risk as a separate major risk. - FY2021-Q3WorsenedAnnual report
「Although signs of an economic recovery are emerging as economic activity gradually resumes, uncertainty about the outlook continues due to renewed increases in infections and the identification of newly mutated viruses.」
While recovery trends in economic activity and automobile production are noted, renewed increases in infections and the identification of mutated viruses are explicitly cited as new sources of uncertainty. The impact of the infectious disease continues, and an additional risk factor concerning its potential impact on the business is identified. - FY2021-Q2Continuation of the impact of the infectious disease and signs of recoveryAnnual report
「Due to a decline in orders resulting from the impact of production stoppages and production cuts by customers, sales were ¥7,754 million, down 31.7% year on year. In terms of earnings, the company posted an operating loss of ¥584 million, compared with operating income of ¥127 million in the same quarter of the previous year, and an ordinary loss of ¥580 million, compared with ordinary income of ¥85 million.」
Production stoppages and production cuts by customers due to COVID-19 affected results through a decline in orders, with sales down 31.7% and operating and ordinary results turning to losses. At the same time, the company states that automobile production had bottomed out and was recovering, adding indications of improvement in the external environment even though the impact continued. - FY2021-Q1WorsenedAnnual report
「Due to a decline in orders resulting from the impact of production stoppages and production cuts by customers, sales were ¥3,609 million, down 36.1% year on year. In terms of earnings, the company posted an operating loss of ¥320 million, compared with operating income of ¥70 million in the same quarter of the previous year; an ordinary loss of ¥306 million, compared with ordinary income of ¥70 million; and a quarterly net loss attributable to owners of the parent of ¥360 million, compared with quarterly net income attributable to owners of the parent of ¥44 million.」
Production stoppages and production cuts by customers due to COVID-19 actually affected results through a decline in orders. Sales decreased 36.1%, and operating, ordinary and net income all turned into losses. The additional information states that accounting estimates were made on the assumption that the impact of the infectious disease could continue for a certain period of the fiscal year ending March 2021. - FY2020MaterialisedAnnual report
「The group has production facilities in Japan, China, the United States and Thailand. Since February 2020, it has suspended operations or adjusted operating levels in each region according to customers’ operating conditions. All production facilities are currently operating, but conditions requiring operating adjustments continue, resulting in an impact from lower sales.」
The spread of COVID-19 actually resulted in production stoppages and operating adjustments at production facilities, including overseas subsidiaries, and also affected sales. The amount of the impact is considered difficult to calculate reasonably. - FY2020-Q3First statedAnnual report
「Overseas, the outlook remains uncertain due to escalating tensions in the Middle East, US-China trade friction, the UK's withdrawal from the EU and the spread of a novel virus, among other factors.」
The spread of the novel virus is identified for the first time as a source of uncertainty in overseas markets. The spread itself is described as an event that occurred, but no specific amount of impact on the group is provided.