Sharp Decline in Automotive Sales and Production Due to the Spread of COVID-19
First written in FY2021-Q1. 6 of 12 entries say "Mitigated", first in FY2021-Q3. Latest entry: FY2026.
Murakami moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2024: 3 of 9 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「If an infectious disease pandemic, natural disaster, war, terrorism or other unforeseen geopolitical event occurs, the company may be forced to reduce or suspend production activities or experience stagnation in sales activities, which could affect its business activities and results.」
The risk has been restructured from the specific wording of a sharp decline in automobile sales and production due to COVID-19 to a global unforeseen-event risk encompassing infectious diseases generally. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no new developments or significant changes in the existing risk of a sharp decline in automobile sales and production due to the spread of COVID-19. - FY2023-Q3RestatedAnnual report
「There have been no significant changes to the assumptions, including the timing of the end of the COVID-19 pandemic, or to the accounting estimates described in the additional information section of the previous fiscal year's securities report under “Accounting Estimates Related to the Impact of COVID-19.”」
The company has reaffirmed that there have been no significant changes to the assumptions regarding the timing of the end of the COVID-19 pandemic or to the accounting estimates. - FY2023-Q1RestatedAnnual report
「There have been no significant changes to the assumptions, including the timing of the end of the COVID-19 pandemic, or to the accounting estimates described in the additional information section of the previous fiscal year's securities report under “Accounting Estimates Related to the Impact of COVID-19.”」
The company has reaffirmed that there have been no significant changes to the assumptions regarding the timing of the end of the COVID-19 pandemic or to the accounting estimates. - FY2022MitigatedAnnual report
「In the fiscal year under review, all segments were affected by customer production cuts caused by the resurgence of COVID-19 and shortages of semiconductor components, but sales of the mainstay automotive rear-view mirrors were on a recovery trend, resulting in net sales of ¥73,595 million.」
Although the impact of customer production cuts due to the resurgence of COVID-19 remained, sales of the mainstay rear-view mirrors were on a recovery trend, and the impact that emerged in the previous fiscal year had eased relatively, as stated. - FY2022-Q3MitigatedAnnual report
「In the third-quarter cumulative period of the current fiscal year, although production cuts caused by the spread of COVID-19 and the semiconductor shortage had an impact, unit sales of the mainstay automotive rear-view mirrors increased compared with the third-quarter cumulative period of the previous fiscal year, resulting in net sales of ¥53,190 million.」
Although the impact of production cuts caused by the spread of COVID-19 remained, automotive rear-view mirror unit sales increased year on year and results recovered. - FY2022-Q2MitigatedAnnual report
「In the second-quarter cumulative period of the current fiscal year, automotive rear-view mirror unit sales increased substantially compared with the second-quarter cumulative period of the previous fiscal year, when the impact of COVID-19 was pronounced, resulting in net sales of ¥35,937 million.」
Compared with the previous year's second quarter, when the impact of COVID-19 was pronounced, automotive rear-view mirror unit sales increased substantially, resulting in net sales of ¥35,937 million. - FY2022-Q1MitigatedAnnual report
「In the first-quarter cumulative period of the current fiscal year, automotive rear-view mirror unit sales increased substantially from the first-quarter cumulative period of the previous fiscal year, when the impact of COVID-19 was pronounced, resulting in net sales of ¥18,929 million.」
Compared with the previous year's first quarter, when the impact of COVID-19 was pronounced, automotive rear-view mirror unit sales increased substantially and results recovered, with net sales of ¥18,929 million and operating profit of ¥1,830 million. - FY2021MitigatedAnnual report
「In April 2020, the Group launched the COVID-19 Emergency Measures Project. To prevent infections among employees, it promptly introduced flex-time arrangements and shifted to teleworking and remote meetings. It also focused on maintaining employment and securing earnings by ensuring the supply chain, adjusting production in line with fluctuations in orders, and thoroughly reducing fixed costs in addition to its usual cost-reduction activities.」
Although the impact of the pandemic on unit sales and results remained in the full-year results, the company implemented measures including the emergency measures project, changes in working arrangements, securing the supply chain, production adjustments and fixed-cost reductions, aiming for a recovery from the second half onward and to secure earnings. - FY2021-Q3MitigatedAnnual report
「During the nine-month period of the current fiscal year, production had declined through the second quarter due to the impact of COVID-19, but production recovered in the third quarter as unit sales of the company's mainstay automotive rear-view mirrors increased.」
Although the impact of lower production due to COVID-19 remained in cumulative results, production recovered in the third quarter as unit sales of the mainstay product increased, as stated. - FY2021-Q2MaterialisedAnnual report
「During the first 2 quarters of the current fiscal year, sales volume for automotive rearview mirrors declined significantly in all segments due to the impact of the spread of COVID-19. As a result, net sales amounted to ¥30,096 million, a decrease of ¥7,717 million, or 20.4%, from the second quarter of the previous fiscal year. Operating profit amounted to ¥492 million, a decrease of ¥2,980 million, or 85.8%, due to lower net sales.」
The spread of COVID-19 materialised as a decline in unit sales of automotive rear-view mirrors across all segments, resulting in a 20.4% year-on-year decrease in net sales and an 85.8% decrease in operating profit. - FY2021-Q1MaterialisedAnnual report
「During the first quarter of the current fiscal year, net sales amounted to ¥14,257 million, a decrease of ¥4,222 million, or 22.9%, from the first quarter of the previous fiscal year, as the spread of COVID-19 caused a significant decline in sales volume for automotive rearview mirrors, mainly in Japan. Operating profit amounted to ¥82 million, a decrease of ¥1,605 million, or 95.1%, due to lower net sales.」
The spread of COVID-19 materialised as a decline in unit sales of automotive rear-view mirrors, mainly in Japan, resulting in a 22.9% decrease in net sales and a 95.1% decrease in operating profit. In North America, higher unit sales in Mexico led to increases in both revenue and profit, while unit sales also declined in Asia, mainly in China and Thailand.