Decline in demand from major clients due to COVID-19
First written in FY2020. 7 of 14 entries say "Mitigated", first in FY2022-Q2. Latest entry: FY2024.
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- FY2024MitigatedAnnual report
「During the fiscal year under review, the macroeconomic environment normalised as COVID-19 was reclassified under the Infectious Diseases Control Law as a Category 5 disease, resulting in increased economic activity, growth in the service industry and increased inbound demand.」
It states that economic activity normalised following the reclassification of COVID-19 as a Category 5 disease, indicating that its impact on demand from major customers had eased compared with previously. - FY2024-Q2MitigatedAnnual report
「During the cumulative second-quarter period, Japan's economy showed signs of a gradual recovery as the impact of COVID-19 on demand and supply gradually subsided.」
It states that the impact of COVID-19 on demand and supply gradually subsided and that the economy showed signs of a gradual recovery. - FY2024-Q1MitigatedAnnual report
「While COVID-19 was reclassified as a Category 5 disease and socioeconomic activity began to recover,」
It describes the reclassification of COVID-19 as a Category 5 disease and the beginning of the recovery in socioeconomic activity, indicating that its impact on demand from major customers had eased compared with previously. - FY2023MitigatedAnnual report
「During the fiscal year under review, Japan's economy began moving toward normalisation as economic activity resumed with the easing of restrictions on movement related to COVID-19 and restrictions on entry from overseas.」
It states that economic activity began moving toward normalisation as restrictions on movement and entry were eased, indicating that the impact of the infectious disease on the demand environment had eased compared with previously. - FY2023-Q1RestatedAnnual report
「There have been no material changes to the assumptions, including the future spread and timing of the subsidence of COVID-19, disclosed under Additional Information in the previous fiscal year's annual securities report.」
It reconfirms that there have been no significant changes to the previous fiscal year's assumptions regarding the spread of COVID-19 and the timing of its containment. - FY2022MitigatedAnnual report
「Furthermore, demand for promotional printing, which had declined due to the spread of COVID-19, began to recover, and our earnings power improved steadily. As a result, for the fiscal year under review, net sales were ¥8,507 million, up 25.8% year on year; operating profit was ¥554 million, up 864.8%; ordinary profit was ¥597 million, up 597.4%; and net income was ¥386 million, up 668.1%.」
It states that demand for promotional printing, which had declined due to the spread of infectious diseases, was showing signs of recovery, and that net sales and profits substantially exceeded the previous year, indicating a recovery from the impact of lower demand on business performance. - FY2022-Q3MitigatedAnnual report
「Through these initiatives, the development of new customers and the expansion of sales channels for new products to existing customers, which had continued since the previous fiscal year, progressed beyond plan. In addition, by capturing demand for promotional printing that had declined due to the spread of COVID-19, we steadily improved our earnings power.」
It states that the company captured demand for promotional printing, which had declined due to the spread of infectious diseases, and that its earnings power improved steadily, indicating a response to and recovery from the impact of lower demand from major customers. - FY2022-Q2MitigatedAnnual report
「In addition, demand for printing promotional materials, which had declined due to the spread of COVID-19, showed signs of recovery, and the earnings structure also improved.」
It states that demand for printing promotional materials, which had declined due to the spread of infectious diseases, was showing signs of recovery and that the earnings structure had improved. However, the recovery in promotional demand was delayed, and it does not state that the risk had been eliminated. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions, including the future spread and timing of the subsidence of COVID-19, disclosed under Additional Information in the previous fiscal year's annual securities report.」
The company has reaffirmed that there were no material changes to the assumptions made in the previous fiscal year regarding the spread and containment timing of COVID-19. - FY2021MaterialisedAnnual report
「As a result, for the fiscal year, revenue was ¥6,765 million, down 18.0% year on year; operating profit was ¥57 million, down 77.9%; ordinary profit was ¥85 million, down 71.8%; and net profit was ¥50 million, down 81.9%.」
In connection with the decline in demand from major clients due to COVID-19, the impact on operating results materialized, with full-year revenue down 18.0% and operating profit down 77.9%. - FY2021-Q3MaterialisedAnnual report
「As a result, for the cumulative third quarter, revenue was ¥4,951 million, down 23.5% year on year; operating profit was ¥20 million, down 92.1%; ordinary profit was ¥40 million, down 86.0%; and quarterly net profit was ¥22 million, down 91.4%.」
In connection with the decline in demand from major clients due to COVID-19, the impact on operating results continued to materialize, with cumulative third-quarter revenue down 23.5% year on year and operating profit down 92.1%. - FY2021-Q2MaterialisedAnnual report
「As a result, for the cumulative second quarter, net sales were ¥2,921 million, down 31.7% year on year; operating loss was ¥151 million, compared with operating income of ¥155 million in the same quarter of the previous year; ordinary loss was ¥137 million, compared with ordinary income of ¥175 million; and quarterly net loss was ¥94 million, compared with quarterly net income of ¥180 million.」
In connection with the decline in demand from major customers due to the pandemic, revenue decreased by 31.7% year on year, while operating profit, ordinary profit and net profit turned into losses. - FY2021-Q1MaterialisedAnnual report
「Depending on future developments in the ongoing COVID-19 pandemic, the decline in demand from major clients may be prolonged, potentially adversely affecting the company's operating results and financial position.」
Major clients reduced promotional activities and newspaper-inserted flyers, causing the number of flyers printed and sales to fall below the levels of the same period of the previous year. The company also recorded ¥36 million in leave allowances related to the pandemic as extraordinary losses, indicating that the demand decline risk has materialized in its operating results. - FY2020First statedAnnual report
「Depending on future developments in the ongoing COVID-19 pandemic, the decline in demand from major clients may be prolonged, potentially adversely affecting the company's operating results and financial position.」
In light of the outbreak and spread of COVID-19 and its impact on the economy, the company has, for the first time, described the risk of a prolonged decline in demand from major clients as a separate item.