Risk of Business Interruption Due to Earthquakes, Fires and Other Events
First written in FY2017. 2 of 10 entries say "Materialised", first in FY2020-Q3. Latest entry: FY2024.
The whole theme swung hardest in 2020: 67 of 114 companies on the "Worse" side.
- FY2024MitigatedAnnual report
「We also acquired a range of knowledge on preventing the spread of infectious diseases through our response to the novel coronavirus disease.」
In addressing natural disaster and infectious disease risks, the company has documented the acquisition of knowledge on preventing the spread of infection through its response to COVID-19, in addition to conventional measures such as BCPs. - FY2023-Q3Update to the insurance proceeds received in connection with the fire accidentAnnual report
「Insurance proceeds related to the fire that occurred in September 2021 at the overseas consolidated subsidiary シマヅ ユーエスエー マニュファクチュアリング インク.」
Regarding the fire accident that occurred in the previous fiscal year, the company disclosed that ¥907 million in insurance proceeds had been recognized as extraordinary income through the third-quarter cumulative period. - FY2023-Q2MitigatedAnnual report
「Insurance proceeds related to the fire that occurred in September 2021 at the overseas consolidated subsidiary シマヅ ユーエスエー マニュファクチュアリング インク.」
Regarding the fire that occurred in the previous fiscal year, insurance proceeds of ¥891 million were recorded as insurance recoveries, realizing recovery of the loss through insurance. - FY2022Disclosure of full-year fire-related lossesAnnual report
「The loss arising from the fire that occurred in September 2021 at the overseas consolidated subsidiary シマヅ ユーエスエー マニュファクチュアリング インク has been recognized.」
Regarding the fire accident in September 2021, a fire loss of ¥549 million was recorded as an extraordinary loss for the full fiscal year. - FY2022-Q3Update to the amount of fire loss recognizedAnnual report
「The loss from the fire that occurred in September 2021 at Shimadzu USA Manufacturing, Inc., an overseas consolidated subsidiary, has been recognized. The loss includes an estimated amount to the extent that a reasonable estimate can currently be made.」
The recognition of losses associated with a fire at an overseas consolidated subsidiary continues to be disclosed, and the fire loss for the nine months ended the third quarter was stated to be ¥561 million. The amount of insurance proceeds remains undetermined. - FY2022-Q2MaterialisedAnnual report
「A loss arising from the fire that occurred in September 2021 at Shimadzu USA Manufacturing Inc., an overseas consolidated subsidiary, has been recorded. The loss includes the estimated amount to the extent that a reasonable estimate is currently possible. Insurance proceeds are expected to be received in connection with the fire, but no amount has been recorded because the amount receivable has not yet been determined.」
Regarding previously assumed risks to business from earthquakes, fires and other events, an actual fire occurred at an overseas consolidated subsidiary, and a fire loss of ¥758 million was recorded. Insurance proceeds are expected, but the amount has not been determined. - FY2021ReframedAnnual report
「With respect to COVID-19, the Group established a response headquarters and implemented various measures to prevent infection and its spread, while coordinating with Group companies to conduct business activities with the safety of customers, stakeholders and employees as its top priority.」
The response to the risk of business suspension caused by natural disasters and infectious diseases has been updated from the previous BCP and other measures to include the COVID-19 Response Headquarters and coordination across the Group. - FY2020RestatedAnnual report
「Assuming the occurrence of disasters including major earthquakes and infectious diseases such as novel influenza, we have implemented necessary safety measures, formulated business continuity plans (BCPs) for early recovery, introduced a safety confirmation system, and conducted disaster preparedness training.」
Measures against the risk of business interruption caused by natural disasters and infectious diseases, including BCPs, employee safety confirmation systems and disaster preparedness drills, have been reconfirmed. - FY2020-Q3MaterialisedAnnual report
「Hydraulic equipment declined as demand stagnated in Japan, which was affected by natural disasters, while North America and China were affected by U.S.-China trade friction.」
The Company states that the impact of natural disasters on business activities materialized in practice as stagnant demand for hydraulic equipment in Japan, rather than remaining a hypothetical risk. - FY2017First statedAnnual report
「However, if a natural disaster such as an earthquake or an accident such as a fire occurs, the resulting personal and property damage, as well as business interruption, could affect the Group’s operating results and financial position.」
Human and property damage and business interruption from natural disasters, fires, and other accidents were first disclosed as a standalone risk item.