Sharp economic slowdown caused by the spread of COVID-19 and its impact on the global economy
First written in FY2020-Q2. 6 of 16 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2025-H1.
Tohoku Chemical moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
2 other companies' latest entry also says "Materialised".
- FY2025-H1MaterialisedAnnual report
「Reagents and consumables increased due to new adoptions of reagents, despite a decline in the number of COVID-19 tests and changes in testing methods at each facility.」
The decline in COVID-19 testing and changes in testing methods continue to be reflected in Medical revenue and segment profit. Meanwhile, some of the impact has been offset by the adoption of new reagents. - FY2024MaterialisedAnnual report
「Reagents and consumables increased due to new adoptions, but fell below the previous fiscal year because the number of COVID-19 tests declined at each facility and testing methods changed. As a result, net sales decreased by ¥1.261 billion, or 8.2% year on year, to ¥14.125 billion, while segment profit (gross profit) decreased by ¥195 million, or 12.8%, to ¥1.335 billion.」
The decline in COVID-19 testing and changes in testing methods appeared in full-year results as lower Medical revenue and segment profit. - FY2024-Q2WorsenedAnnual report
「Results were below the same period of the previous year due in part to the end of the government’s special budget related to COVID-19. As a result, net sales decreased by ¥132 million, or 10.1% year on year, to ¥1.178 billion, while segment profit (gross profit) decreased by ¥41 million, or 22.3%, to ¥146 million.」
The end of special budgets related to COVID-19 has emerged as a specific factor behind lower revenue and profit in the Academia and Life Science segment. In addition to Medical, the reversal of infection-related demand has appeared in actual results for another segment. - FY2024-Q1MaterialisedAnnual report
「Medical declined substantially because the number of COVID-19 tests fell at each facility and testing methods changed.」
The decline in COVID-19 testing and changes in testing methods appeared in actual results as lower medical revenue and profit. - FY2023-Q1RestatedAnnual report
「There have been no material changes to the assumptions concerning the impact of the spread of COVID-19 described in the “Additional Information (Accounting Estimates Regarding the Impact of the Spread of COVID-19)” section of the annual securities report for the previous consolidated fiscal year.」
The company states that there have been no material changes to the accounting assumptions concerning the impact of COVID-19, and that its previous estimates regarding the infection risk remain in place. - FY2022RestatedAnnual report
「Because some of the products and services in the businesses of the company and its consolidated subsidiaries are affected by economic fluctuations, substantial changes in market conditions resulting from changes in the economic environment caused by COVID-19 could have a material impact on the operating performance of the company and its consolidated subsidiaries.」
COVID-19 continues to be disclosed for the full fiscal year as a major risk that could have a material impact on performance. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy experienced deteriorating corporate earnings and slowing personal consumption due to the spread of COVID-19. Although vaccination is progressing, the infection situation has not yet improved because of new Omicron variants and other factors.」
The disclosure states that although vaccination is progressing, the infection situation has not improved because of new Omicron variants and other factors, and the impact of COVID-19 and uncertainty about the outlook continue. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy experienced deteriorating corporate earnings and slowing personal consumption due to the spread of COVID-19. As vaccination progressed and the infection situation began to subside, the economy appeared to be heading toward recovery, but the emergence of a new Omicron variant changed the situation completely. The outlook remains uncertain, with developments in COVID-19 in Japan and overseas, its impact on the Japanese economy, and continuing global tensions resulting from Russia’s invasion of Ukraine, and the situation remains difficult to predict.」
Although signs of an economic recovery resulting from vaccination and the subsiding infection situation were indicated, global tensions resulting from Russia’s invasion of Ukraine, in addition to the Omicron variant, were explicitly noted, heightening uncertainty about COVID-19 and the economy. - FY2022-Q1WorsenedAnnual report
「Although progress in COVID-19 vaccinations and the containment of infections suggested that the economy was beginning to recover, the situation changed completely due to the emergence of the Omicron variant. The outlook remains uncertain and the situation remains difficult to predict, given the future course of COVID-19 in Japan and overseas and its impact on the domestic economy.」
The outlook shifted from signs of recovery resulting from vaccination and the subsiding infection situation to a dramatic change caused by a new Omicron variant, and uncertainty about COVID-19 and the Japanese economy continues. - FY2021RestatedAnnual report
「Because some of the products and services in the group’s businesses are affected by economic fluctuations, substantial changes in market conditions resulting from changes in the economic environment caused by COVID-19 could have a material impact on the group’s operating performance.」
COVID-19 continues to be disclosed for the full fiscal year as a major risk that could have a material impact on performance. - FY2021-Q3RestatedAnnual report
「Although economic activity gradually resumed and the economy began to recover moderately, economic activity stagnated again following the declaration of a state of emergency, and the outlook remained uncertain. The outlook remains uncertain and the situation remains difficult to predict, given the future course of COVID-19 in Japan and overseas and its impact on the domestic economy.」
The renewed stagnation of economic activity caused by the spread of COVID-19 and uncertainty about the outlook due to developments in the disease in Japan and overseas continue. The company also states that there have been no material changes to the assumptions concerning accounting estimates disclosed in the annual securities report for the previous consolidated fiscal year. - FY2021-Q2WorsenedAnnual report
「Economic activity gradually resumed and the economy began to recover moderately. However, the declaration of a state of emergency caused economic activity to stall again, and the outlook remains uncertain.」
Regarding the impact of COVID-19, the disclosure explicitly states that economic activity stalled again, emphasizing the continuing impact and heightened uncertainty about the outlook. - FY2021-Q1RestatedAnnual report
「Uncertainty remains about the outlook, including future developments in COVID-19 in Japan and overseas and its impact on the Japanese economy, and the situation remains difficult to predict.」
Uncertainty about the outlook continues due to developments in COVID-19 in Japan and overseas and its impact on the Japanese economy. - FY2020WorsenedAnnual report
「Because some of the products and services in the group’s businesses are affected by economic fluctuations, substantial changes in market conditions resulting from changes in the economic environment caused by COVID-19 could have a material impact on the group’s operating performance.」
COVID-19 is identified as a separate major risk with an explicit statement that it could have a material impact on performance. Its impact on food, equipment related to chemicals and clinical laboratory reagents has also appeared in full-year results. - FY2020-Q3WorsenedAnnual report
「In addition, the spread of COVID-19 caused the economy to contract sharply and had a major impact on the global economy.」
The impact of COVID-19 on the economy and global economy continues to be disclosed, and its effects on segment performance have become more specific, including delays in equipment orders for chemicals and reduced revenue and profit in food. Meanwhile, the accounting estimates are based on the assumption that the situation will gradually subside from the second half of 2020, and the company states that there is no material impact on operating performance or financial position. - FY2020-Q2First statedAnnual report
「In addition, the spread of COVID-19 caused the economy to slow sharply and had a major impact on the global economy.」
The disclosure states that the spread of COVID-19 resulted in a sharp economic slowdown and had a major impact on the global economy.