Impact of Reduced Economic Activity and Demand Due to COVID-19
First written in FY2021-Q1. 4 of 12 entries say "Restated". Latest entry: FY2024.
Itochu Enex 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 2020: 112 of 175 companies on the "Worse" side.
56 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Sales volumes of petroleum products exceeded the previous fiscal year as demand for petroleum products showed signs of recovery following the easing of the impact of COVID-19.」
The impact of reduced demand due to COVID-19 eased, resulting in a recovery in demand for petroleum products and sales volumes exceeding the previous fiscal year. - FY2024-Q3RestatedAnnual report
「Sales volumes of petroleum products exceeded the year-earlier period as demand for petroleum products showed signs of recovery following the easing of the impact of COVID-19.」
The company has reaffirmed the recovery trend in demand for petroleum products as the impact of COVID-19 has eased. - FY2024-Q2MitigatedAnnual report
「Sales volumes of petroleum products exceeded the year-earlier period as demand for petroleum products showed signs of recovery following the easing of the impact of COVID-19.」
As the impact of reduced demand due to COVID-19 eased, demand for petroleum products showed signs of recovery and sales volumes exceeded the year-earlier period. - FY2024-Q1SoftenedAnnual report
「During the first quarter of the current fiscal year, the Japanese economy was affected by easing of the impact of COVID-19」
With respect to COVID-19, the wording has shifted from describing stagnation in economic activity and an extremely uncertain situation to stating that its impact has eased. - FY2023SoftenedAnnual report
「Although COVID-19, which emerged in 2019, has gradually subsided, it caused not only health damage in Japan and overseas but also a major, prolonged stagnation in economic activity, developing into a situation that shook the foundations of businesses.」
While continuing to treat infectious disease risk as a material risk, the wording has shifted to state that the infection is gradually subsiding, and the company also indicates that the short-term impact is limited because of the complementary relationships among its businesses. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year under review (1 April 2022 to 30 September 2022), the Japanese economy saw energy prices for petroleum products, electricity and other items rise sharply amid the lingering impact of COVID-19, due to soaring resource prices caused by geopolitical risks related to the situation in Ukraine and the weaker yen, and the outlook remains extremely uncertain.」
The company has reaffirmed its view that the future outlook remains extremely uncertain, with some effects of COVID-19 persisting and energy prices rising amid soaring resource prices and the weaker yen. - FY2023-Q1RestatedAnnual report
「As in the same period of the previous year, with no sign of an end to the COVID-19 pandemic, domestic energy prices for petroleum products, electricity and other items have been trending higher due to soaring resource prices caused by geopolitical risks related to the situation in Ukraine and the weaker yen, and the outlook remains extremely uncertain.」
The company has reaffirmed its view that, with no signs yet of COVID-19 coming to an end, the future outlook for the economic and business environment remains extremely uncertain. - FY2022RestatedAnnual report
「Compared with the previous fiscal year, the impact of COVID-19 showed a slight recovery as restrictions on going out and requests from local authorities to suspend business operations were eased. However, the outlook remained uncertain as infections rose again following the repeated emergence of variants.」
The disclosure indicates a slight recovery following the easing of restrictions on going out and business operations, while reaffirming the renewed increase in infections due to variants and the uncertainty surrounding the future outlook. - FY2022-Q3Signs of recovery and renewed spread of variantsAnnual report
「Compared with the first nine months of the previous fiscal year, the impact of COVID-19 showed signs of a partial recovery as restrictions on going out and requests from local authorities to suspend business operations were eased. However, as of January 2022, infections were rising again due to variants, the recovery toward stable economic activity remained sluggish, and the outlook continued to be extremely uncertain.」
While noting signs of a partial recovery following the easing of restrictions on going out and requests to suspend business operations, the disclosure continues to point to a renewed increase in infections due to variants and the sluggish recovery in economic activity. - FY2022-Q1MaterialisedAnnual report
「During the first quarter of the current fiscal year, the Japanese economy remained in a situation similar to that in the first quarter of the previous fiscal year, with personal consumption declining and economic activity stagnating as people refrained from going out and local authorities requested business closures due to the spread of COVID-19. As of July 2021, the recovery in economic activity remained sluggish, and the outlook continued to be extremely uncertain, with infections rising again.」
The disclosure states that the decline in personal consumption and stagnation in economic activity caused by the spread of the infection continued, while the renewed increase in infections made the future outlook extremely uncertain. - FY2021-Q2MaterialisedAnnual report
「The Group has established a COVID-19 Response Headquarters headed by the President, and is managing the Group appropriately by determining and implementing company-wide response policies and necessary measures, continuously gathering information, and disseminating information internally and externally.」
The disclosure continues to describe the spread of the infection, stagnation in personal consumption and economic activity following the declaration of a state of emergency, the renewed increase in infections, and uncertainty over the future outlook, all of which have had an actual impact in the form of lower sales volumes and demand across the businesses. - FY2021-Q1MaterialisedAnnual report
「Following the declaration of a state of emergency in response to the spread of COVID-19, personal consumption fell rapidly and economic activity declined substantially as people refrained from going out and local authorities requested business closures, resulting in an extremely difficult situation that continued. Even after the state of emergency was lifted, the recovery remained sluggish, and the outlook continued to be extremely uncertain.」
The company explicitly stated for the first time that personal consumption and economic activity had fallen sharply and the outlook was uncertain due to COVID-19, explaining that sales volumes and demand had actually declined across multiple businesses, including petroleum products, LP gas, industrial gases, automobiles, and electricity and heat supply.