Uncertainty About the Outlook Due to the Spread of Infection and Restrictions on Economic Activity
First written in FY2022-Q1. 4 of 8 entries say "Softened", first in FY2022. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024DroppedAnnual report
「During the fiscal year, the economy was on a recovery trend, supported by a gradual recovery in inbound demand and domestic consumption. However, conditions remained highly uncertain because of a slowdown in the global economy, prolonged inflation, geopolitical risks and labor shortages.」
References to COVID-19 and restrictions on economic activity have disappeared, replaced by a recovery trend and other sources of uncertainty. - FY2023SoftenedAnnual report
「During the fiscal year, Japan’s economy was on a recovery trend, supported by the normalization of economic activity following the end of the COVID-19 pandemic and a recovery in inbound demand. However, economic conditions remained uncertain because of the unresolved Russia-Ukraine situation, the effects of monetary tightening in Europe and the United States, and a slowdown in China’s economy.」
COVID-19-related risk has weakened further with the normalization of economic activity, while geopolitical conditions, monetary tightening in Europe and the United States, and China’s slowdown are cited as uncertainties. - FY2023SoftenedAnnual report
「During the fiscal year, Japan’s economy gradually recovered as COVID-19 subsided. However, economic conditions remained uncertain because of inflation resulting from supply shortages caused by various factors, including the unresolved Russia-Ukraine situation, prolonged low-interest-rate policies and a chronic semiconductor shortage.」
COVID-19 is described as subsiding and economic activity as recovering, while supply shortages and inflation are identified as other sources of uncertainty. - FY2023-Q1RestatedAnnual report
「During the third-quarter cumulative period, Japan’s economy showed some signs of recovery, including the lifting of priority preventive measures and the resumption of various events, despite the spread of new COVID-19 variants. However, the outlook remained uncertain because of inflation caused by higher resource prices and a rapid depreciation of the yen.」
The Company continues to describe a recovery in economic activity alongside uncertainty over the outlook. - FY2022-Q4RestatedAnnual report
「During the second-quarter cumulative period, Japan’s economy showed some signs of recovery, including the lifting of priority preventive measures and the resumption of various events, despite the spread of new COVID-19 variants. However, the outlook remained uncertain because of inflation caused by higher resource prices and a rapid depreciation of the yen.」
The Company continues to cite both recovering economic activity and uncertainty from the pandemic, higher resource prices, yen depreciation and inflation. - FY2022-Q3SoftenedAnnual report
「During the first-quarter cumulative period, Japan’s economy showed some signs of recovery, including the lifting of priority preventive measures and the resumption of various events, despite the spread of new COVID-19 variants. However, the outlook remained uncertain because of inflation caused by higher resource prices and a rapid depreciation of the yen.」
The description is less focused on restrictions, noting lifted measures and resumed events, while identifying higher resource prices, yen depreciation and inflation as new sources of uncertainty. - FY2022SoftenedAnnual report
「The Company has made accounting estimates, including the valuation of inventories, the recoverability of deferred tax assets and impairment accounting for fixed assets, based on the assumption that the current impact of the spread of COVID-19 on the Company is limited. However, because the impact remains highly uncertain, changes in conditions could affect these accounting estimates.」
Although the pandemic risk continues, the Company explicitly assumes that its current impact is limited, reducing the emphasis on uncertainty over the outlook. - FY2022-Q1First statedAnnual report
「During the third-quarter cumulative period, Japan’s economy remained subject to repeated restrictions and easing of economic activity as states of emergency related to COVID-19 were declared and lifted. With infections from the Omicron variant spreading, the outlook remained uncertain.」
Repeated restrictions and easing of economic activity amid the spread of COVID-19 are identified as an external-environment risk. For accounting purposes, the Company assumed that the current impact on it was limited.