Employee, Operations, Demand and Financing Risks from COVID-19
First written in FY2020. 5 of 13 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024.
Fuji Oozx moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
1 other company's latest entry also says "Reframed".
- FY2024ReframedAnnual report
「(5) Pandemic risk If a global infectious disease outbreak occurs, it may adversely affect the Group's business operations, financial results and other areas. In response to risks affecting the Group as a whole, the Group reviews its response policies as necessary, including by establishing specialist committees as appropriate.」
The previous description focusing on COVID-19 has been reorganized as a broader discussion of pandemic risk arising from global infectious disease outbreaks in general. - FY2024-Q1MitigatedAnnual report
「COVID-19 was reclassified as a Category V disease under the Infectious Diseases Control Law, easing restrictions on daily life and social activities. The movement of people has returned, and economic activity is moving back toward normal levels.」
It explains that, following the reclassification of COVID-19 as a Class 5 disease and the easing of restrictions, daily life and social activity are gradually returning to normal levels. - FY2023MitigatedAnnual report
「The deterioration of the business environment and financing risks resulting from a prolonged situation were also significant, but the Company determined that they were not currently high.」
Although employee and business interruption risks from the pandemic continued to be disclosed, the Company indicated that the deterioration of the business environment and financing risks were not currently high. - FY2023-Q3MaterialisedAnnual report
「The impact on production continued, including substantial production adjustments caused by the closure of dealerships following the spread of COVID-19 in China.」
The Company stated that dealership closures and substantial production adjustments resulting from the spread of the infectious disease in China continued to affect actual automotive production. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter, domestic and overseas economies continued to recover gradually and remained on a moderate recovery trend as COVID-19, including new variants, repeatedly spread and subsided.」
Although the infectious disease continued to spread and subside in repeated waves, the economy gradually normalised and remained on a moderate recovery trend. There were no significant changes to the assumptions used in accounting estimates for the infectious disease. - FY2022Sales and profit recover as the assumption shifts to limited impact from the infectious diseaseAnnual report
「Although the outlook for COVID-19 remained uncertain, with no end to the disease in sight, its impact on orders and production during the current consolidated fiscal year was limited. Accordingly, the Company made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, on the assumption that the impact of COVID-19 would also be limited in the following consolidated fiscal year.」
Although the infectious disease risk itself continued, the Company shifted to an assumption that its impact on orders and production was limited. Operating profit improved to ¥1,571 million due to recovering sales and fixed-cost reductions. - FY2022-Q3Sales and profit recover despite the continuing effects of the infectious diseaseAnnual report
「Amid these market conditions, although the Group was affected by the spread of COVID-19 and by automakers' production cuts due to semiconductor and sourced-parts shortages, sales to North American customers recovered compared with the same period of the previous year, particularly sales from overseas bases, which recovered significantly.」
Although the Company stated that the effects of the infectious disease continued, operating profit improved from a loss of ¥287 million in the same period of the previous year to profit of ¥1,330 million, due to recovering sales and fixed-cost reductions. - FY2022-Q2Sales and profit recover despite the continuing effects of the infectious diseaseAnnual report
「Amid these market conditions, although the Group was affected by the spread of COVID-19 and by automakers' production cuts due to semiconductor and sourced-parts shortages, sales to North American customers recovered compared with the same period of the previous year, particularly sales from overseas bases, which recovered significantly. Overseas sales therefore increased 79.7% (23.7% if the six-month period from 1 April 2021 to 30 September 2021 had been consolidated for overseas consolidated subsidiaries).」
Although the effects of the infectious disease continued, operating profit improved from a loss of ¥928 million in the same period of the previous year to profit of ¥1,118 million, due to recovering sales and fixed-cost reductions. - FY2021MaterialisedAnnual report
「The Group's operating environment remained uncertain as the spread of COVID-19 since last year had a significant impact on the global economy. However, economic activity has resumed following the start of vaccine development and rollouts, and the economy has shifted toward a gradual recovery.」
While a recovery trend driven by vaccines has emerged, the effects of the infectious disease remained in full-year results in the form of lower domestic and overseas sales, weaker orders, and production and operating risks. - FY2021-Q3MaterialisedAnnual report
「As a result, revenue was ¥13,399 million, down ¥3,437 million from the same period of the previous year; the operating loss was ¥287 million, compared with operating profit of ¥540 million in the same period of the previous year; the ordinary loss was ¥376 million, compared with ordinary profit of ¥505 million; and the net loss attributable to owners of the parent was ¥327 million, compared with net income attributable to owners of the parent of ¥380 million.」
Amid the spread of the infectious disease, revenue decreased by ¥3,437 million year on year, and the Company recorded an operating loss of ¥287 million, an ordinary loss of ¥376 million and a quarterly net loss attributable to owners of the parent of ¥327 million. - FY2021-Q2MaterialisedAnnual report
「Domestic sales also decreased 34.6% from the previous year because of the decline in orders, resulting in a 30.4% decrease in domestic and overseas sales combined.」
As the infectious disease spread, overseas sales declined 20.1%, domestic sales declined 34.6% and total domestic and overseas sales declined 30.4%, while the Company recorded an operating loss of ¥928 million and an ordinary loss of ¥923 million. - FY2021-Q1MaterialisedAnnual report
「Domestic sales also decreased 45.3% from the previous year, as the decline in orders forced the factories to close for several days each month. Domestic and overseas sales combined decreased 37.9%.」
COVID-19 resulted in actual declines in domestic and overseas sales, factory closures, recognition of losses, and securing liquidity through borrowings. - FY2020First statedAnnual report
「COVID-19, which is currently causing a global pandemic, presents significant risks across various areas of the Group's operations. The greatest risk is the risk of loss of life among employees and others. The business environment is also expected to deteriorate, with domestic and overseas economies weakening and production cuts resulting from lower sales in the automotive industry to which the Group belongs.」
The Company identified employee life and health, business interruption due to infections, deterioration in the global economy and automotive demand, and the impact on financing as new risk categories. The global pandemic and suspension of production activities were described as events that had already occurred.