Rapid Deterioration in the Global Economy and Business Environment from the COVID-19 Pandemic
First written in FY2020. 9 of 15 entries say "Reframed", first in FY2021-Q1. Latest entry: FY2024-Q3.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q3DroppedAnnual report
「During the nine-month period ended the third quarter, the global economy remained in an uncertain state, with downside risks to economic activity increasing due to monetary tightening in various countries, a slowdown in China's economic recovery, the prolonged Russian invasion of Ukraine and heightened tensions in the Middle East.」
The previous global economic risks centered on the spread of the novel coronavirus are not explicitly stated in this filing, while the discussion has shifted to monetary tightening, geopolitical conditions, the Chinese economy and other factors. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy remained uncertain, with increasing downside risks to economic activity from monetary tightening in various countries, the protracted Russian invasion of Ukraine and a slowdown in China's economic recovery.」
The description has been updated from the previous focus on constraints on economic activity caused by COVID-19 to a combination of uncertain factors centered on monetary tightening, the situation in Ukraine and the slowing recovery of the Chinese economy. - FY2023ReframedAnnual report
「During the consolidated fiscal year under review, the global economy remained uncertain. Efforts to balance measures against COVID-19 with socioeconomic activity progressed, and supply chain disruptions showed signs of gradually easing, but downside risks to the economy increased as countries tightened monetary policy to curb inflation, while the Russia-Ukraine situation continued for an extended period.」
While restrictions on economic activity due to infectious diseases have eased relatively, the disclosure has been updated to cite complex uncertain factors centered on monetary tightening, inflation and geopolitical conditions. - FY2023-Q3ReframedAnnual report
「During the cumulative third quarter, the global economy remained uncertain, with increased downside risks from monetary tightening by countries seeking to curb inflation, lockdowns under China’s zero-COVID policy and a sharp subsequent increase in infections following policy changes.」
The description of constraints on economic activity caused by infectious diseases has been updated to include the situation in which infections surged after China's zero-COVID policy was changed, while the risk of an economic downturn caused by monetary tightening is also cited. - FY2023-Q2ReframedAnnual report
「During the current second-quarter cumulative period, the global economy remained uncertain as efforts to balance measures against COVID-19 with socioeconomic activity progressed, amid downside risks from monetary tightening by governments seeking to contain inflation, tight energy supply and demand resulting from Russia's invasion of Ukraine, heightened geopolitical risks, and the yen's depreciation in Japan.」
The disclosure has been updated from its previous focus on restrictions on economic activity caused by infectious diseases to a range of complex uncertain factors, including monetary tightening, energy supply and demand, geopolitics and yen depreciation, while social and economic activity has resumed in tandem. - FY2023-Q1WorsenedAnnual report
「During the current first-quarter cumulative period, the global economy remained uncertain due to supply constraints and price increases caused by shortages of components and materials, including semiconductors, as well as the prolonged Russia-Ukraine situation and the impact of China's zero-COVID policy.」
Regarding business-environment risks related to the novel coronavirus, the impact of China’s zero-COVID policy has been specifically identified, and uncertainty has intensified amid shortages and soaring prices of materials, as well as the Russia-Ukraine situation. - FY2022ReframedAnnual report
「During the current consolidated fiscal year, the global economy remained uncertain despite signs of recovery driven by economic policies adopted by governments. Factors included the spread of COVID-19, shortages of components and materials such as semiconductors, higher raw material prices, sharp currency fluctuations in the second half of the fiscal year, and Russia's invasion of Ukraine.」
A recovery driven by the government's economic policies was cited alongside uncertainty arising from the spread of infection, shortages of materials, higher raw material prices, sharp foreign exchange fluctuations and Russia's invasion of Ukraine. - FY2022-Q3WorsenedAnnual report
「The global economy during the cumulative period of the third quarter of the current consolidated fiscal year remained uncertain. In addition to the spread of COVID-19 variants, concern grew that supply chain disruptions caused by shortages of semiconductors and other materials would affect corporate production activity. Meanwhile, the economy showed signs of recovery due to progress in vaccinations and economic policies implemented by governments around the world.」
The risk associated with the resurgence of infectious diseases has taken the specific form of mutant strains, while concerns have been added regarding the impact on production activities from shortages of components and materials and supply-chain disruptions. At the same time, an economic recovery driven by vaccinations and economic policy is also cited. - FY2022-Q2RestatedAnnual report
「During the six months ended 30 September, the global economy showed signs of demand recovery due to progress in vaccinations and economic measures implemented by governments, despite a renewed spread of COVID-19.」
Although the risk of a renewed spread of COVID-19 remains, the disclosure continues to describe signs of demand recovery driven by vaccinations and economic measures. - FY2022-Q1ReframedAnnual report
「During the first quarter of the fiscal year, the global economy saw signs of a recovery in demand despite the renewed spread of COVID-19, owing to progress in vaccinations and economic measures implemented by governments around the world.」
While the risk of a resurgence in infections remains, the situation has been updated to reflect signs of a recovery in demand driven by vaccinations and economic measures. - FY2021ReframedAnnual report
「Although the effects of COVID-19 continued in 2021, the global economy was expected to recover and expand to a growth rate in the 5% range, supported by the gradual rollout of vaccines and economic support measures in various countries.」
The description of the risk environment has been updated based on the prospect of a global economic recovery driven by vaccine adoption and economic support measures, while assuming that the effects of the infectious disease will be prolonged. - FY2021-Q3ReframedAnnual report
「During the cumulative third quarter of the current fiscal year, economic conditions remained difficult worldwide as the impact of the spread of COVID-19 persisted, although a broad-based recovery had been observed since the middle of the period. In North America and Europe, economic activity remained constrained by the resurgence of infections, leaving conditions difficult.」
Although the deterioration in the global economy and business environment caused by COVID-19 has been prolonged, the update to the risk position cites both an overall recovery and increased severity resulting from renewed expansion in North America and Europe. - FY2021-Q2RestatedAnnual report
「Economic conditions during the cumulative second quarter remained severe worldwide owing to the spread of the novel coronavirus, although signs of a recovery emerged in the latter half.」
The deterioration in the global economy and business environment caused by COVID-19 continues, but a recovery in the latter half of the period has newly been described. - FY2021-Q1ReframedAnnual report
「The global economy was extremely challenging due to the impact of the spread of COVID-19. In Japan, exports declined rapidly and capital investment remained weak, but the economy is beginning to bottom out, with signs of a recovery in personal consumption following the lifting of the state of emergency. North America and Europe generally remained in difficult conditions, but economic activity began to reopen gradually, with signs that the economies were bottoming out.」
Although deterioration in the business environment caused by COVID-19 has continued, signs of economic activity resuming and of a bottoming out in some regions have been described, updating the status of risk developments. - FY2020MaterialisedAnnual report
「In 2020, the spread of COVID-19 affected business in many parts of the world. By April, economic activity in China had begun to show signs of reopening, but lockdowns continued in Europe, the United States, and Southeast Asia, and the impact was expected to spread to South America and Africa. As a result, global economic growth was forecast at negative 3%, and an economic crisis exceeding the 2008 global financial crisis was expected.」
Lockdowns, business impacts, and a forecast of negative 3% global economic growth were disclosed as new risks arising from the COVID-19 pandemic, with economic restrictions and a sharp slowdown subsequently occurring in the fourth quarter.