Economic and Performance Impacts of the Spread of COVID-19
First written in FY2021-Q1. 6 of 13 entries say "Materialised", first in FY2021-Q2. Latest entry: FY2024-Q3.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024-Q3MitigatedAnnual report
「Although prices remained high throughout the year, consumption-related activity showed stronger signs of recovery as consumer sentiment improved amid more opportunities to go out following the significant easing of the impact of COVID-19.」
The impact of COVID-19 eased significantly, and consumer sentiment improved amid more opportunities to go out, according to the disclosure. Prices remained high. - FY2024-Q2MitigatedAnnual report
「In the Okinawa economy, consumption-related activity showed signs of recovery as residents went out more often and demand for leisure activities increased, while events attracting visitors were held as they had been before the pandemic, following the shift of COVID-19 to Category V in May. Construction-related activity showed signs of recovery as new investment demand for hotels and condominiums increased. Tourism-related activity showed stronger signs of recovery as the number of domestic visitors returned to pre-pandemic levels, partly due to the shift of COVID-19 to Category V, and the number of international visitors also began to recover. As a result, the economy as a whole showed stronger signs of recovery.」
As COVID-19 was reclassified as a Class 5 disease and the movement of people recovered, the impact of the infection on consumption, construction and tourism shifted from a downturn phase toward recovery. The number of domestic tourists returned to pre-pandemic levels, and foreign tourists also began to return. - FY2024-Q1MitigatedAnnual report
「Although prices continued to rise, personal consumption showed stronger signs of recovery as residents had more opportunities to go out and demand for leisure activities increased in the absence of activity restrictions. Construction-related activity showed signs of recovery against a backdrop of demand for hotels and condominiums, while tourism-related activity remained firm on support from the nationwide travel support program. As a result, the economy as a whole showed stronger signs of recovery.」
As restrictions on activity were lifted and the movement of people and tourism demand recovered, the impact of COVID-19 on the Okinawa economy changed from a downturn phase toward recovery. However, prices continued to rise. - FY2023-Q3MitigatedAnnual report
「In consumption-related sectors, the prefectural economy showed signs of recovery as more people went out, supporting demand for clothing, personal items and dining out. Construction-related activity also showed signs of recovery, supported by private-sector demand for condominiums and hotels, as well as a pause in the rise in construction material prices. Tourism-related activity showed signs of recovery, with the number of visitors to the prefecture exceeding the 2019 level, helped by the nationwide travel support program.」
Against a backdrop of unrestricted activity and the nationwide travel support program, tourism, consumption and construction showed signs of recovery, and the impact of COVID-19 on the regional economy changed from a downturn phase to a recovery phase. - FY2023-Q1MitigatedAnnual report
「The Okinawa economy showed signs of recovery as the number of tourists and the movement of residents increased following the recovery in the movement of people in the absence of restrictions on activity.」
As the movement of people recovered without restrictions on activity being imposed, the impact of the infection on tourism and the regional economy changed from a downturn phase through the previous fiscal year to signs of recovery. However, concerns such as rising prices remain. - FY2022MaterialisedAnnual report
「In Okinawa Prefecture, restrictions on the movement of people lasted as long as 257 days, including the state of emergency, Priority Preventive Measures on the Spread of Disease and shortened business hours for restaurants. Because manufacturing accounts for a low proportion of the industrial structure while tertiary industries account for a high proportion, the prefecture was strongly affected by the spread of COVID-19.」
The impact of the infection on the regional economy, including 257 days of restrictions on the movement of people, continued throughout the fiscal year as part of the operating environment. - FY2022-Q3MitigatedAnnual report
「In addition to the factors described above, the number of visitors from outside the prefecture showed stronger signs of recovery, and consumption-related and tourism-related activity showed signs of bottoming out. Construction-related activity remained weak, as the recovery in private-sector construction was slow against a backdrop of rising material and energy prices. As a result, the economy as a whole shifted from a phase of decline to a phase of bottoming out.」
Although the effects of the infection remained, consumption- and tourism-related activity bottomed out as the number of visitors from outside the prefecture recovered, and the overall prefectural economy moved from a downturn phase to a bottoming-out phase, according to the disclosure. Construction-related activity remained weak. - FY2022-Q2MaterialisedAnnual report
「In the Okinawa economy, the Priority Preventive Measures on the Spread of Disease that began on 12 April were changed to a state of emergency on 23 May and ultimately extended through 30 September, restricting activity for most of the first half. As a result, personal consumption remained weak, construction was slow to recover in private-sector projects, and tourism continued to languish. Overall, the economy continued to show signs of contraction.」
The fifth wave of infections and restrictions on activity weighed on personal consumption, private-sector construction and tourism, and the downturn in the Okinawa economy continued. - FY2022-Q1MaterialisedAnnual report
「The Okinawa economy entered the fourth wave of COVID-19. Consumption remained substantially below 2019, before the pandemic, while construction weakened as private-sector construction activity paused. Although tourism showed temporary signs of recovery during Golden Week, it remained substantially below 2019 levels throughout the period, and the economy as a whole declined further.」
The impact of the spread of the infection actually appeared in the first quarter as weak consumption and tourism, softness in construction, and a further downturn in the prefectural economy. - FY2021MaterialisedAnnual report
「Ordinary expenses were ¥53,433 million, ¥2,381 million lower than in the previous fiscal year, despite an increase in the provision for loan losses following the introduction of forward-looking provisioning, mainly due to lower losses on redemption of Japanese government bonds and other securities and losses on sales of equities and other securities.」
Credit risk under the spread of the infection appeared in full-year ordinary expenses as an increase in the provision for loan losses, and the introduction of forward-looking provisioning also affected results. - FY2021-Q3MaterialisedAnnual report
「Meanwhile, ordinary expenses decreased by ¥2,041 million year on year to ¥38,844 million, despite an increase in the provision for loan losses due to the spread of COVID-19, mainly because of decreases in losses on sales of bonds such as government bonds and losses on sales of shares and other securities.」
It states that the impact of the spread of COVID-19 actually appeared in ordinary expenses for the cumulative third quarter period as an increase in the provision for loan losses. - FY2021-Q2MaterialisedAnnual report
「Meanwhile, ordinary expenses decreased by ¥757 million year on year to ¥26,723 million, despite an increase in the provision for loan losses due to the spread of COVID-19, mainly because of decreases in losses on redemption of bonds such as government bonds and interest paid on deposits.」
The disclosure states that the impact of the spread of COVID-19 appeared as an actual expense factor through an increase in the provision for loan losses. - FY2021-Q1First statedAnnual report
「During the first quarter of the fiscal year ending March 2021, covering the period from 1 April 2020 to 30 June 2020, the Japanese economy was in an extremely difficult situation as personal consumption, production and corporate earnings all declined rapidly due to the spread of COVID-19. In Okinawa Prefecture, tourism deteriorated due to the spread of COVID-19, consumption weakened further amid the impact of the consumption tax rate increase, and construction declined further as private-sector construction activity paused.」
The disclosure describes the actual effects of the deterioration in the Japanese and Okinawa Prefecture economies caused by the spread of COVID-19 on tourism, consumption, production, corporate earnings and construction.