Impact of the Spread of COVID-19 on Business Activities and Earnings
First written in FY2020-Q2. 7 of 17 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024ReframedAnnual report
「Socioeconomic activity is moving toward normalization following the reclassification of COVID-19 as a Category 5 infectious disease. However, if the spread of a new infectious disease or another outbreak occurs in the future, changes in the external environment, including real estate market conditions and housing starts, could reduce the value of orders received and affect the Group's operating results and financial position.」
The discussion of COVID-19 was reframed around general infectious-disease risk, including the spread of new infectious diseases, on the assumption that socioeconomic activity would normalize after the shift to Category 5. - FY2024-Q2RestatedAnnual report
「In air-conditioning and sanitary equipment contracting, revenue exceeded the previous year. The main reasons were the resumption of private-sector renovation work after the COVID-19 pandemic and steady progress in construction work on public-sector projects.」
Private-sector renovation projects resumed after the pandemic, and recovery in projects postponed because of the infectious disease has continued. - FY2024-Q1MitigatedAnnual report
「In air-conditioning and sanitary equipment contracting, revenue exceeded the previous year. The main reasons were the resumption of private-sector renovation work after the COVID-19 pandemic and steady progress in construction work on public-sector projects.」
Private-sector renovation projects resumed after the pandemic, indicating some recovery in projects that had been postponed because of the infectious disease. However, this does not mean that references to the infectious-disease risk itself have been removed. - FY2023MitigatedAnnual report
「Although the normalization of socioeconomic activity is expected to progress further following the reclassification of COVID-19 as a Category 5 infectious disease, the timing of its containment remains uncertain. We will therefore continue working to ensure the safety of our business partners and employees. If infections spread again and the situation becomes prolonged, changes in the external environment, including real estate market conditions and housing starts, could reduce the value of orders received and affect the Group's operating results and financial position.」
The shift to Category 5 is expected to advance the normalization of socioeconomic activity, partly mitigating the impact, while the possibility of an impact on operating results if infections spread again and the situation is prolonged remains. - FY2023-Q3RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was reconfirmed that there were no material changes to the assumptions underlying the accounting estimates concerning the impact of COVID-19. - FY2023-Q1RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was reconfirmed that there were no material changes to the assumptions underlying the accounting estimates concerning the impact of COVID-19. - FY2022RestatedAnnual report
「As it is difficult to predict the impact of COVID-19 on the economy and when it will subside, we have made accounting estimates on the assumption that its effects will continue for a certain period beyond the next consolidated fiscal year. However, its impact on the financial position and operating results for the current consolidated fiscal year is immaterial. The spread of COVID-19 involves many uncertainties and may affect the financial position and operating results of the Group in the next consolidated fiscal year.」
While the impact in the current period was considered immaterial, the possibility that the effects of the infectious disease will continue beyond the next fiscal year and affect operating results was reconfirmed. - FY2022-Q3RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was reconfirmed that there were no material changes to the assumptions underlying the accounting estimates concerning the impact of COVID-19. - FY2022-Q2RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was reconfirmed that there were no material changes to the assumptions underlying the accounting estimates concerning the impact of COVID-19. - FY2022-Q1MitigatedAnnual report
「Sentiment in the residential renovation market remained above the previous year, supported by an improvement in the COVID-19 infection situation and year-end demand.」
Against a backdrop of improving COVID-19 conditions and year-end demand, the residential renovation market exceeded the previous year, indicating that some of the pandemic's impact had eased. - FY2021MitigatedAnnual report
「The spread of COVID-19 involves many uncertainties and may affect the financial position and operating results of the Group in the next consolidated fiscal year. As it is difficult to predict the impact of COVID-19 on the economy and when it will subside, we have made accounting estimates on the assumption that its effects will continue for a certain period beyond the next consolidated fiscal year. However, its impact on the financial position and operating results for the current consolidated fiscal year is immaterial.」
While the risk of the infectious disease and the possibility of an impact from the next fiscal year onward remain, the impact on the current period's financial position and operating results was described as immaterial. - FY2021-Q3RestatedAnnual report
「Although sentiment in the residential renovation market stagnated under the second state of emergency, it generally remained above the previous year after the first state of emergency was lifted, and performed even more strongly over the most recent 3 months.」
The renovation market stagnated under the second state of emergency but recovered to year-on-year growth after it was lifted. The continuing impact of COVID-19 was reconfirmed. - FY2021-Q2MaterialisedAnnual report
「Regarding market conditions for detached housing, sentiment in the residential renovation market generally remained above the previous year after the first state of emergency was lifted, despite a slowdown in inquiries and orders under the second state of emergency.」
The COVID-19 pandemic caused a slowdown in inquiries and orders under the second state of emergency, while the renovation market generally returned to growth year on year after the first state of emergency was lifted. - FY2021-Q1MaterialisedAnnual report
「The main reasons for the decline in net sales were the decrease in demand for Olympic-related facilities, which had continued through the previous period, and a decrease in completion revenue from the large-project business due to extensions to construction periods for commercial facilities and other factors resulting from the impact of COVID-19.」
The impact of COVID-19 was reflected in actual sales declines through longer construction periods for commercial facilities, postponements of private-sector renewal projects and lower demand for new construction. A reduction in expenses resulting from the suspension of sales-promotion activities and cost-cutting measures was also reported. - FY2020MaterialisedAnnual report
「The end of the global spread of COVID-19 is expected to take time, and economic conditions in Japan and overseas remain uncertain because of restrictions on personal consumption and corporate activities. In the construction industry, which has a significant impact on our Group's performance, changes in external conditions such as real estate market conditions and the number of housing starts could lead to concerns about lower order intake and may affect our Group's operating results and financial position.」
The impact of COVID-19 was reflected in full-year results through sluggish renovation demand, delays and postponements of new-build projects, suspension of sales activities, a decline in new business relationships and delays in construction progress. - FY2020-Q3MaterialisedAnnual report
「As the spread of COVID-19 is expected to affect restrictions on business activities and the securing of earnings, we will continue to closely monitor developments. The decline in sales of plumbing and bathroom products resulted from such products for a specific builder being removed from specifications, the suspension of new housing starts and the postponement of renovation work due to COVID-19.」
In addition to the potential impact of COVID-19 on business activities and earnings, actual effects were reported, including the suspension of new housing starts, postponement of renovation work, lower sales of plumbing and bathroom products, and postponement of public-sector construction projects. - FY2020-Q2First statedAnnual report
「As the spread of COVID-19 is expected to affect restrictions on business activities and the securing of earnings, we will continue to closely monitor developments. The decline in orders and the timing shift in sales resulted from unit-bathroom products for a specific builder being removed from specifications, as well as delivery delays for sanitary equipment and other products caused by COVID-19.」
For the first time, it was explicitly stated that the spread of COVID-19 could affect business activities and the securing of earnings. It was explained that delivery delays for sanitary equipment and other products, lower order intake and timing shifts in sales had actually occurred.