Demand, Business Performance and Financial Impact of the COVID-19 Pandemic
First written in FY2020. 8 of 16 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2024.
Yokohama Maruuo moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 6 of 14 companies on the "Worse" side.
19 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「During the current consolidated fiscal year, the economy continued to recover as Japan overcame the COVID-19 pandemic, supported by domestic demand, including substantial wage increases and strong corporate investment appetite.」
The company explains that Japan overcame the COVID-19 pandemic and that economic activity normalised, while personal consumption and inbound demand recovered. - FY2024-Q3MitigatedAnnual report
「During the first nine months of the current consolidated fiscal year, employment and income conditions improved as economic activity normalised following the COVID-19 pandemic, and personal consumption increased moderately despite the impact of higher prices.」
Personal consumption increased moderately as economic activity normalised following the COVID-19 pandemic, and the downward impact of the infection on demand and earnings has eased somewhat. However, the company states that uncertainty regarding the impact of the infection remains high in its accounting estimates. - FY2024-Q2MitigatedAnnual report
「During the second quarter of the current consolidated fiscal year, personal consumption showed signs of recovery as opportunities to go out and tourism demand increased following the reclassification of COVID-19 as a Class 5 disease under the Infectious Diseases Control Law.」
The change in the legal classification of COVID-19 increased opportunities to go out and tourism demand, and personal consumption showed signs of recovery. The extent to which the infection is depressing economic activity has eased somewhat. - FY2024-Q1MitigatedAnnual report
「The economy began to recover moderately as COVID-19 was reclassified as a Class 5 disease under the Infectious Diseases Control Law and inbound demand continued to recover.」
The change in the legal classification of COVID-19 and the recovery in demand are moving economic activity toward normalisation. However, the company states that uncertainty regarding the impact of the infection remains high in its accounting estimates. - FY2023-Q3WorsenedAnnual report
「Regarding COVID-19, hereinafter referred to as “the infection,” although conditions had temporarily stabilised, the number of new positive cases continued to increase gradually toward year-end. Concern also remains about the impact of China’s easing of its zero-COVID policy, and it remains difficult to predict when the infection will be contained.」
Following a temporary stabilisation, the number of new positive cases increased, and concern about the impact of China’s easing of its zero-COVID policy has further heightened uncertainty regarding the timing of containment. - FY2023-Q2MitigatedAnnual report
「Regarding COVID-19, hereinafter referred to as “the infection,” the pace of growth in infections caused by the seventh wave has gradually begun to ease, but it remains difficult to predict when the infection will be contained.」
While the pace of growth in infections caused by the seventh wave has gradually begun to ease, it remains difficult to predict when containment will occur, and risks remain. There have been no material changes to the assumptions used for accounting estimates. - FY2023-Q1WorsenedAnnual report
「Regarding COVID-19, hereinafter referred to as “the infection,” the number of new infections had gradually declined as vaccination spread, but since June it has stopped falling and begun to increase, while concern about a seventh wave has intensified. The timing of the infection’s containment therefore remains uncertain.」
While the number of infections declined as vaccination spread, an upward trend since June and concern about a seventh wave were noted, and uncertainty regarding the timing of containment continues. - FY2022RestatedAnnual report
「Although the impact of COVID-19 has continued for an extended period, renewed restrictions on social and economic activity could, depending on future infection trends, cause continued weakness in the tourism and food-service industries and consequently affect our group’s financial position, operating results and cash flows.」
The company continues to state that the prolonged impact of COVID-19, renewed restrictions on social and economic activity, and weakness in the tourism and food-service industries may affect earnings and financial position. - FY2022-Q3WorsenedAnnual report
「COVID-19, hereinafter referred to as “the infection,” had been gradually returning to a more stable state as national and local governments implemented policies to restrict the movement of people and vaccination rates rose. However, since the beginning of the year, the number of infections has again been increasing following the emergence of the highly transmissible Omicron variant, and the timing of the infection’s containment remains uncertain.」
Although the impact of COVID-19 had temporarily begun to ease, the number of infections increased again following the emergence of the Omicron variant, and uncertainty regarding the timing of containment continues. - FY2022-Q2WorsenedAnnual report
「Personal consumption showed slight signs of recovery, but declined again as the nationwide number of infections increased due to the spread of highly transmissible variants. As vaccinations progress, conditions are gradually beginning to stabilise, but the outlook remains uncertain.」
Personal consumption declined again as variants spread and the number of infections increased, while the impact of COVID-19 on demand and earnings and the associated uncertainty continued. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy remained in a prolonged downturn, as personal consumption was again restricted following the application of priority preventive measures to the areas covered and the issuance of the third state of emergency declaration amid the resurgence of COVID-19. Going forward, concern also remains about the spread of new variants and delays in the pace of vaccination, and a full-fledged economic recovery is expected to take time.」
The resurgence of COVID-19 led to restrictions on consumption through priority preventive measures and the third state of emergency declaration. New variants and delays in vaccination remain concerns, and the prolonged and uncertain impact continues. - FY2021WorsenedAnnual report
「As the future pace of COVID-19 spread and the timing of the rollout of vaccines and therapeutic drugs remain uncertain, the company expects conditions to remain challenging.」
Uncertainty regarding the spread of infection and the timing of the rollout of vaccines and therapeutic drugs continues, and the company states that the downturn in the tourism and food-service industries may continue through restrictions on going out and shortened business hours. In fact, full-year net sales fell 11.8%. - FY2021-Q3WorsenedAnnual report
「The outlook remains uncertain, as the resurgence of infections caused by the third wave since the beginning of autumn has not been brought under control.」
The resurgence of COVID-19 infections caused by the third wave continued, further broadening its impact on the food-service and tourism industries. The assumptions used for accounting estimates were also changed to assume that the impact would continue for a certain period beyond the following consolidated fiscal year. - FY2021-Q2WorsenedAnnual report
「The negative impact on the food-service industry remains significant, and the operating environment continues to be challenging. In the seafood sales business, in addition to the downturn in the food-service industry, the impact on the tourism industry from lodging businesses such as hotels and inns and from the cancellation of various events has created an even more challenging operating environment.」
The impact of COVID-19 has spread beyond the food-service industry to lodging businesses such as hotels and inns and the tourism industry through event cancellations. Net sales in the seafood sales business fell 32.7%, while net sales in the seafood wholesale business fell 15.4%. - FY2021-Q1MaterialisedAnnual report
「The operating environment remains challenging, as sales to the food-service industry have fallen sharply due to requests to refrain from going out and requests to shorten business hours to prevent the spread of COVID-19.」
The sharp decline in sales to the food-service industry caused by COVID-19 actually occurred and was reflected in quarterly results as a 26.9% decrease in net sales, an operating loss of ¥128 million and a net loss of ¥7 million attributable to owners of the parent. - FY2020First statedAnnual report
「Although the outlook for the containment of COVID-19 remains uncertain and it is difficult at this stage to reasonably calculate its financial impact, based on information available at the end of the consolidated fiscal year, the company has made accounting estimates, including the allowance for doubtful accounts and impairment of fixed assets, on the assumption that the impact of COVID-19 will continue through December 2020.」
For the first time, the company identifies COVID-19 as a separate major risk, citing reduced demand caused by the downturn in the food-service industry and lower personal consumption, deteriorating liquidity at business partners, and effects on the allowance for doubtful accounts. Estimates were made on the assumption that the impact would continue through December 2020, and an allowance for doubtful accounts expense of ¥114 million was recorded, meaning that some of the impact has already appeared in the current fiscal year.