Risk of Construction Delays and Declining Orders Due to the Spread of COVID-19
First written in FY2020. 5 of 13 entries say "Restated". Latest entry: FY2024-Q3.
The whole theme swung hardest in 2024: 6 of 18 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「During the nine months ended the third quarter of the consolidated fiscal year, the Japanese economy showed signs of a gradual recovery as social and economic activity moved toward normalization following the lifting of various restrictions related to COVID-19.」
The company continues to describe the impact of COVID-19 on economic activity as weakening as various restrictions related to the infectious disease are lifted and social and economic activity normalizes. - FY2024-Q2RestatedAnnual report
「During the six months ended the second quarter of the consolidated fiscal year, the Japanese economy continued on a gradual recovery path as social and economic activity moved toward normalization following the easing of various restrictions related to COVID-19, supported by the effects of various policies.」
The company continues to describe the impact of COVID-19 on economic activity as weakening as restrictions related to the infectious disease are eased and social and economic activity normalizes. - FY2024-Q1MitigatedAnnual report
「During the first quarter of the consolidated fiscal year, the Japanese economy continued on a gradual recovery path as social and economic activity moved further toward normalization following the transition of COVID-19 to a Class 5 infectious disease, supported by the effects of various policies.」
The company describes COVID-19's transition to a Class 5 infectious disease and the progress toward normalization of social and economic activity, indicating that the impact of the infectious disease on economic activity is weakening. - FY2023-Q3MitigatedAnnual report
「The Japanese economy during the nine months ended the third quarter of the consolidated fiscal year showed signs of a gradual recovery as activity restrictions were lifted and various policies took effect under the policy of living with COVID-19.」
The lifting of activity restrictions under the policy of living with COVID-19 and the resulting gradual economic recovery indicate that the impact of the infectious disease on economic activity is weakening. - FY2023-Q2MitigatedAnnual report
「The Japanese economy during the six months ended the second quarter of the consolidated fiscal year showed signs of recovery as the country moved toward a new phase of living with COVID-19 and balanced infectious-disease measures with economic activity.」
The company describes the impact of COVID-19 on economic activity as weakening as the country transitions to living with COVID-19 and balances infectious-disease measures with economic activity. - FY2023-Q1MitigatedAnnual report
「During the three-month period of the consolidated fiscal year under review, the Japanese economy showed signs of recovery as COVID-19 subsided and economic activity resumed. However, the sharp depreciation of the yen resulting from exchange-rate fluctuations and the prolonged Russia-Ukraine situation led to higher raw material prices and supply constraints, and uncertainty about the economic outlook has persisted.」
The company describes signs of COVID-19 subsiding and the economy recovering as economic activity resumes, indicating that the impact of the infectious disease is weakening. Uncertainty over the economic outlook remains, however. - FY2022-Q3WorsenedAnnual report
「The Japanese economy during the nine months ended the third quarter of the consolidated fiscal year was significantly affected amid severe conditions caused by repeated waves of COVID-19. Meanwhile, signs of a lull in infections emerged as vaccination progressed, and economic and social activity was moving toward normalization. However, concerns over a so-called sixth wave caused by new variants were mounting, and the outlook for the economy remained uncertain.」
While referring to the move toward normalization as vaccination progressed, the company states that concerns over a sixth wave caused by new variants were increasing and that the economic outlook remained uncertain. - FY2022-Q2RestatedAnnual report
「The Japanese economy during the six months ended the second quarter of the consolidated fiscal year was significantly affected by activity restrictions, including states of emergency and priority preventive measures to prevent the spread of disease, introduced in response to the re-expansion of COVID-19.」
The company reconfirms that the economic impact of the re-expansion of the infectious disease and the states of emergency and priority preventive measures has continued. - FY2022-Q1WorsenedAnnual report
「The Japanese economy during the first quarter of the consolidated fiscal year was significantly affected by the re-expansion of COVID-19, which led to the issuance of states of emergency and priority preventive measures to prevent the spread of disease.」
The company newly identifies the re-expansion of the infectious disease and the issuance of states of emergency and other measures, and describes a situation in which delayed construction starts, progress delays and plan revisions have occurred in the construction industry as well. - FY2021-Q3RestatedAnnual report
「The construction industry in which our group operates was also unable to avoid the impact of the COVID-19 pandemic. In addition to difficulties securing workers, equipment and materials, uncertainty about the economic outlook resulted mainly in delays to the start and progress of construction projects related to private-sector capital investment, as well as the revision of plans in some cases.」
The company continues to report difficulty securing workers and construction materials, delayed construction starts, progress delays and plan revisions due to COVID-19, as it did in the previous quarter. - FY2021-Q2RestatedAnnual report
「The impact of COVID-19 was unavoidable. In addition to the difficulty of securing workers, equipment and materials, uncertainty over the economic outlook led mainly to delays in construction starts and progress, as well as some project plan revisions, primarily in private-sector capital investment projects.」
The company continues to report difficulty securing workers and construction materials, delayed construction starts, progress delays and plan revisions due to COVID-19, as it did in the previous quarter. - FY2021-Q1MaterialisedAnnual report
「Although some construction sites were closed following the declaration of a state of emergency in response to the impact of COVID-19, construction subsequently began to resume. However, the impact of COVID-19 was substantial. In addition to the difficulty of securing workers, equipment and materials, uncertainty over the economic outlook was unavoidable, resulting mainly in delays to construction starts and progress, as well as some project plan revisions, primarily in private-sector capital investment projects.」
Regarding COVID-19, which was identified as a new risk in the previous fiscal year, the company states that workplace closures, difficulty securing workers and construction materials, delayed construction starts, progress delays and plan revisions actually occurred. - FY2020First statedAnnual report
「The spread of COVID-19 may delay the schedules of construction projects currently underway. Depending on trends in capital investment by private-sector companies and the announcement and bidding of public works projects, new projects may be reconsidered, while construction starts may be delayed or postponed due to delays in design work. We will carefully assess the impact on orders and pursue orders while maintaining thorough profitability controls.」
For the first time, the spread of COVID-19 was explicitly identified as a standalone business and other risk, with construction schedule delays, reconsideration of new projects, delayed or postponed construction starts, and the impact on orders cited as potential effects. The company also states that there was no impact on its financial position or operating results for the consolidated fiscal year.