Risk of weaker seafood demand and business performance due to the spread of COVID-19
First written in FY2020. 6 of 17 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025RestatedAnnual report
「Unexpected outbreaks of infectious diseases, including the issuance of a state of emergency by the government or other authorities, may affect the performance and other aspects of the group, including by reducing net sales in the marine-products wholesale business, its main segment.」
The company continues to describe the risk that unexpected outbreaks of infectious diseases, without limitation to COVID-19, may affect demand and performance. - FY2024ReframedAnnual report
「Unexpected outbreaks of infectious diseases, including the issuance of a state of emergency by the government or other authorities, may affect the performance and other aspects of the group, including by reducing net sales in the marine-products wholesale business, its main segment.」
The company has generalized the wording from the previous risk, which explicitly referred to COVID-19, to the risk of unexpected outbreaks of infectious diseases in general. - FY2024-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the Japanese economy showed signs of normalisation in social and economic activity, including increased movement of people as restrictions on activities related to COVID-19 were eased and lifted. However, the outlook remains uncertain due to persistently high resource prices resulting from the impact of unstable global conditions, including the prolonged Russia-Ukraine situation, inflation caused by soaring raw-material and fuel prices, and exchange-rate fluctuations.」
The company describes the easing and lifting of COVID-19-related restrictions and the normalization of social and economic activity, reaffirming that the impact of the disease has weakened from before. However, uncertainty about the outlook remains. - FY2024-Q1SoftenedAnnual report
「During the first quarter of the current consolidated cumulative period, the Japanese economy showed signs of normalisation in social and economic activity, including increased movement of people as restrictions on activities related to COVID-19 were eased and lifted. However, the outlook remains uncertain due to persistently high resource prices resulting from the impact of unstable global conditions, including the prolonged Russia-Ukraine situation, inflation caused by soaring raw-material and fuel prices, and exchange-rate fluctuations.」
The company states that restrictions on activities related to COVID-19 were eased or lifted and that social and economic activity showed signs of returning to normal, including increased movement of people. While the impact of the disease has weakened from before, uncertainty about the outlook remains. - FY2023SoftenedAnnual report
「As the impact of COVID-19 gradually diminished, the yen remained weak amid the prolonged Russia-Ukraine situation and global monetary tightening, and the company was affected by rising prices for raw materials and energy」
The company states that the impact of COVID-19 has gradually diminished, weakening from the previously broad-based deterioration in demand. However, demand from restaurants and commercial customers remains below pre-pandemic levels and has not fully recovered. - FY2023-Q3RestatedAnnual report
「Although restrictions on activities related to COVID-19 were gradually eased, demand remained far from a full recovery and the difficult industry environment continued.」
The company has repeated its view that, even after restrictions on activities were eased, the impact of COVID-19 on demand and performance had not fully recovered. - FY2023-Q2RestatedAnnual report
「Although restrictions on activities related to COVID-19 were gradually eased, demand remained far from a full recovery and the difficult industry environment continued.」
The company has repeated its view that, even after restrictions on activities were eased, the impact of the disease on demand and performance had not fully recovered. - FY2023-Q1Demand has not fully recovered even after restrictions were easedAnnual report
「Although restrictions on activities related to COVID-19 were gradually eased, demand remained far from a full recovery and the difficult industry environment continued.」
The company states that, although restrictions on activities have been eased, the impact of the disease on demand and performance has not fully recovered. - FY2022WorsenedAnnual report
「In its accounting estimates, including the recoverability of deferred tax assets, the group assumes that the impact of the spread of COVID-19 will continue to a certain extent through the end of March 2023.」
Regarding the risk of lower demand and deteriorating performance due to the disease, the company assumes that the impact will continue through the end of March 2023. - FY2022-Q3Specifying the impact of higher purchase prices and lower import volumesAnnual report
「The wholesale seafood industry surrounding the Company continues to face a challenging environment, including sluggish sales of high-priced products, higher procurement unit prices, weak demand for seafood from business customers and lower import volumes due to changes in demand in various countries, all resulting from the effects of the infection.」
Regarding the impact of the disease, the company specifically describes weak sales of high-priced products, higher purchase prices, sluggish demand from commercial customers and lower import volumes due to changes in demand in other countries. - FY2022-Q2Specifying the impact of restaurant restrictions and intensifying competition for purchasesAnnual report
「Due to the impact of the infection, sales to business customers struggled amid the disappearance of inbound consumption and declining demand from the food-service industry resulting from shorter operating hours and restrictions on serving alcoholic beverages. At the same time, prices tended to rise in other countries as their economies recovered, intensifying competition to procure seafood, and the difficult industry environment continued.」
Regarding the impact of COVID-19, the company provides details on the loss of inbound consumption and, in addition, lower restaurant demand and weak sales to commercial customers due to reduced operating hours and restrictions on serving alcoholic beverages. It also mentions intensifying competition for purchases due to rising prices overseas. - FY2022-Q1Explicit identification of lost inbound consumption and lower restaurant demandAnnual report
「Sales to mass retailers performed well against a backdrop of increased stay-at-home demand, but sales to commercial customers struggled due to the loss of inbound consumption and lower demand in the restaurant industry resulting from the disease, while competition for purchases from overseas also contributed to a continued challenging industry environment.」
Regarding infectious-disease risk, the company states that, in contrast to increased stay-at-home demand from mass retailers, lost inbound consumption, lower demand in the restaurant industry and weak sales to commercial customers have continued. - FY2021WorsenedAnnual report
「The impact on the restaurant industry and other sectors has been particularly significant. Some business partners continue to face a challenging operating environment, and the decline in sales to those industries has become pronounced. Accordingly, depending on when COVID-19 comes under control, the performance and other aspects of the company's group may be affected.」
Regarding infectious-disease risk, the company explicitly identifies the challenging operating environment faced by business partners in the restaurant industry and other sectors and the pronounced decline in sales to those industries, indicating that the impact may continue depending on when the disease comes under control. - FY2021-Q3RestatedAnnual report
「In the seafood wholesale industry surrounding our company, the difficult industry environment has continued due to the impact of the infection, including weak sales and falling prices for high-priced products, an extreme decline in seafood demand from business customers and food-service businesses, and stagnation in imports and exports.」
The company states that the adverse effects of COVID-19 on high-priced products, demand from commercial customers and restaurants, and imports and exports continued through the third quarter. - FY2021-Q2RestatedAnnual report
「The industry has remained in a challenging environment due to poor sales and falling prices for high-priced products, an extreme decline in demand for marine products from commercial customers, and stagnant imports and exports as a result of the disease.」
The company states that the adverse effects of COVID-19 on marine-products demand, prices, imports and exports continued through the second quarter. In additional information, it states that there were no significant changes to the assumptions made in the previous fiscal year regarding the impact of the spread of the disease. - FY2021-Q1MaterialisedAnnual report
「The industry has remained in a challenging environment due to poor sales and falling prices for high-priced products, an extreme decline in demand for marine products from commercial customers, and stagnant imports and exports as a result of the disease.」
The concrete effects of the spread of the infectious disease, which had been identified as a standalone risk in the previous fiscal year, including lower demand, falling prices and stagnant imports and exports, have also emerged in the current quarter. - FY2020First statedAnnual report
「Net sales in the marine-products wholesale business, the company's main segment, may decline due to the spread of COVID-19 and the subsequent state of emergency declared by the government.」
The company identified the spread of COVID-19 as a standalone major risk for the first time. It explained that demand actually declined through the suspension of business by restaurants and commercial customers, falling prices for premium fish and disruptions to imports and exports, contributing to lower revenue and a larger loss for the fiscal year.