Economic and Business Impact of the Spread of COVID-19
First written in FY2020. 4 of 11 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023DroppedAnnual reportCOVID-19 was not listed separately by name among the major risks for the year, having been replaced by general risk categories such as epidemics, disasters and accidents.
- FY2023-Q1RestatedAnnual report
「Although some regions, including China, remained stagnant due to lockdown measures implemented in response to COVID-19, an overall recovery trend was observed.」
China’s COVID-19 lockdowns were cited as a factor restraining economic activity, reaffirming the continuing impact of the pandemic. - FY2022RestatedAnnual report
「In response to the continuing impact of the novel coronavirus (COVID-19), we believe it is necessary to implement measures and initiatives to sustain business and organizational operations, while also responding to the changes in society and the economy brought about by COVID-19 as an established premise.」
The company reaffirmed its view that business and organizational operations must be sustained and that it must respond to changes in society and the economy on the assumption that COVID-19 will continue to have an impact. - FY2022-Q3WorsenedAnnual report
「The outlook remains uncertain due to the resurgence of highly transmissible variants, supply constraints caused by shortages of components and disruptions to logistics networks, and rising raw-material prices.」
Regarding COVID-19, the resurgence of highly transmissible variants was explicitly noted, while supply constraints and rising raw-material prices also contributed to an uncertain outlook. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, the global economy showed signs of recovery as vaccination rates for the novel coronavirus (COVID-19) rose and government measures progressed in various countries. However, the outlook remained uncertain due to concerns including the global semiconductor shortage and rising raw material prices.」
The company acknowledged a recovery driven by vaccinations and measures taken by governments in various countries, while stating that uncertainty over the outlook for the global economy, including the impact of COVID-19, continued. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the U.S. and Chinese economies showed signs of recovery as measures against the spread of the novel coronavirus (COVID-19), including vaccinations, progressed. However, social and economic activity remained restricted and difficult conditions continued in Japan and many other countries due to the resurgence of infections caused by variants.」
While noting a recovery in some regions following vaccination, the company reaffirmed its challenging outlook for the impact of COVID-19 due to the resurgence of infections caused by variants and restrictions on economic activity. - FY2021WorsenedAnnual report
「Although measures such as vaccination are being implemented around the world, concerns remain about another rise in infections caused by variants. As the end of the pandemic is still difficult to foresee, economic conditions in Japan and overseas are expected to remain uncertain.」
The end of COVID-19 remained difficult to foresee, and concerns about another spread caused by variants were explicitly stated. Actual business results reflected impacts including fewer hospital visits, lower demand from the food-service industry, and lower demand for commercial food applications in the United States. - FY2021-Q3MaterialisedAnnual report
「Sales of liquid containers fell substantially below the previous year, owing to spot sales of machinery products in the second quarter of the previous year and weaker demand for commercial food applications and other uses at the U.S. subsidiary due to COVID-19. As a result, revenue declined for the business as a whole.」
The impact of COVID-19 appeared in actual business results as lower demand for commercial food applications and other uses at the U.S. subsidiary and a substantial decline in revenue from liquid containers. - FY2021-Q2MaterialisedAnnual report
「Orders for food packaging materials decreased, particularly for the food-service industry, but sales exceeded the previous year because of sales of filling and conveying systems. Sales of packaging materials for daily necessities also increased despite lower sales to the cosmetics industry, driven by growth in sales of large-capacity, multi-use refill pouches.」
While the impact of COVID-19 appeared in actual business results as fewer orders for food packaging materials for the food-service industry and lower sales of daily-necessity packaging materials for the cosmetics industry, increased sales of other products partly offset the decline. - FY2021-Q1MaterialisedAnnual report
「Sales of packaging materials for daily necessities fell below the previous year, partly because COVID-19 caused sales for the cosmetics industry to decline. Orders for food packaging materials also decreased due to the impact of COVID-19, particularly for packaging materials used by the food-service industry.」
The impact of COVID-19 appeared in actual business results as lower sales of daily-necessity packaging materials for the cosmetics industry and fewer orders for food packaging materials for the food-service industry. - FY2020First statedAnnual report
「The global spread of the novel coronavirus (COVID-19) has grown more serious by the day in terms of economic and social activity, raising concerns that the global decline in consumption and stagnation in production could cause a significant slowdown in economies both in Japan and overseas. Although the impact on our Group’s business is currently minor, we will continue to give top priority to preventing the spread of infection and protecting the health and safety of customers and employees, and will work to respond swiftly as necessary to minimize the impact on our business.」
COVID-19 was first disclosed as a separate major risk in FY2020. The company stated that its current business impact was minor, while explaining that future effects were difficult to predict.