Impact of COVID-19 on the Economy, Credit Costs and Funding Costs
First written in FY2020. 5 of 15 entries say "Restated". Latest entry: FY2024-Q3.
The whole theme swung hardest in 2020: 12 of 31 companies on the "Worse" side.
10 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「Regarding the impact of COVID-19, concerns remain about a resurgence of infections following the government's policy change to designate COVID-19 as a Category 5 disease and the normalization of economic and social activity. However, we recognize that the impact will remain limited as the government and local authorities expand epidemic-control measures and develop the medical-care system.」
Regarding COVID-19, the assessment from the previous quarter continues to be that, in light of the normalization of economic and social activity and the development of epidemic-control and medical-care systems following the Category 5 designation, its impact will remain limited. - FY2024-Q2MitigatedAnnual report
「Regarding the impact of COVID-19, concerns remain about a resurgence of infections following the government's policy change to designate COVID-19 as a Category 5 disease and the normalization of economic and social activity. However, we recognize that the impact will remain limited as the government and local authorities expand epidemic-control measures and develop the medical-care system.」
In light of the normalization of economic and social activity and the development of epidemic-control and medical-care systems following the Category 5 designation, the assessment shifted toward the view that the impact of COVID-19 would remain limited. - FY2024-Q1MitigatedAnnual report
「The economic environment during the cumulative first quarter under review showed signs of normalization in socioeconomic activity as restrictions on movement imposed due to COVID-19 were eased.」
The assessment shifted toward the view that restrictions on movement imposed due to COVID-19 had been eased and that signs of a return to normal socioeconomic activity were emerging. - FY2023ReframedAnnual report
「Regarding the impact of COVID-19, concerns remain about a resurgence of infections resulting from changes in government policy, including the designation of COVID-19 as a Category 5 disease under the Infectious Diseases Control Law. However, we recognize that the impact will subside as the government and local authorities expand epidemic-control measures and develop the medical-care system.」
The assessment shifted toward the view that the impact of COVID-19 is subsiding, while the possibility of higher credit and funding costs due to a resurgence of infections remained. - FY2023-Q3ReframedAnnual report
「In making accounting estimates, including the allowance for doubtful accounts, we have assumed that although the number of COVID-19 cases will continue to rise and subside repeatedly, it will remain contained to a certain extent, and that the recovery of normal economic activity is expected under the government's policy of living with COVID-19, with the impact subsiding through fiscal 2023. This assumption is uncertain, and losses may increase or decrease if changes in the operating environment in specific industries or other developments arise from the spread of COVID-19 or other factors.」
Regarding COVID-19, the assessment has been organized around the expectation that the number of cases will remain contained to a certain extent, normal economic activity will recover under the policy of living with COVID-19, and its impact will subside through fiscal 2023. However, the possibility remains that losses may fluctuate due to a resurgence of infections. - FY2023-Q2ReframedAnnual report
「Regarding the impact of COVID-19, the rapid spread of the seventh wave has shown some signs of subsiding, economic growth has recovered to pre-pandemic levels, and we recognize that the economy is on a sustained recovery path. However, the recovery remains uneven due to the expected eighth wave over the winter, sharp global fluctuations in interest rates and foreign exchange, supply constraints and other factors. Credit costs and funding costs may continue to affect the performance of our group.」
Recognition has shifted toward the view that the impact of COVID-19 is showing some signs of subsiding in the seventh wave and that the economy is on a sustained recovery path. However, the possibility of higher credit and funding costs resulting from the eighth wave, interest rate and foreign exchange volatility, and supply constraints remains. - FY2023-Q1ReframedAnnual report
「In making accounting estimates for the allowance for doubtful accounts and other items, we have assumed that, although uncertainty will remain high due to the continued emergence of variants and expansion of affected regions, the impact will subside toward fiscal 2023 with the spread of vaccines and therapeutic drugs. This assumption is uncertain, and losses may increase or decrease if changes in the business environment arise in specific industries due to the spread of COVID-19 or other factors.」
Regarding COVID-19 risks, the estimate was organized around the expectation that the impact would subside toward fiscal 2023 with the spread of vaccines and therapeutic drugs, while uncertainty remained due to the spread of variants and affected regions. - FY2022-Q3WorsenedAnnual report
「Regarding the impact of COVID-19, the rapid spread of the Omicron variant has led companies' economic activities to be affected by operations focused on preventing infection and maintaining business continuity. Given the continued high uncertainty surrounding the economic recovery, we recognize that conditions requiring close attention will continue throughout fiscal 2021. Depending on future developments, increases in credit costs resulting from deterioration in customers' business conditions accompanying an economic downturn, increases in funding costs and other factors may affect the performance of our group.」
Following the rapid spread of the Omicron variant, uncertainty surrounding COVID-19 risks, including the possibility of increases in credit costs and funding costs, intensified. - FY2022-Q2RestatedAnnual report
「Regarding the impact of COVID-19, although the spread of infection has shown signs of subsiding due to the widespread administration of vaccines and implementation of infection-control measures, we recognize that conditions requiring close attention will continue throughout fiscal 2021 because uncertainty remains high regarding the impact of a sixth wave and the economic recovery. Depending on the progress toward containment, increases in credit costs resulting from deterioration in customers' business conditions accompanying an economic downturn, increases in funding costs and other factors may affect the performance of our group.」
While stating that the spread of infection showed signs of subsiding due to vaccinations and infection-control measures, the company continued to disclose uncertainty regarding a sixth wave and the economic recovery, as well as the possibility of increases in credit costs and funding costs. - FY2022-Q1RestatedAnnual report
「In making accounting estimates for the allowance for doubtful accounts and other items, we have assumed that conditions requiring close attention will continue throughout fiscal 2021, given the high uncertainty surrounding the emergence of variants, the spread of vaccinations and other factors related to the impact of COVID-19. This assumption is uncertain, and losses may increase or decrease if changes in the business environment arise in specific industries due to the spread of COVID-19 or other factors. There were no material changes to this assumption during the first quarter of the current fiscal year.」
The possibility that the impact of COVID-19 would continue throughout fiscal 2021 and that losses could increase or decrease due to changes in the environment in specific industries continued to be disclosed. The accounting estimate assumptions were stated to have undergone no material changes. - FY2021WorsenedAnnual report
「For fiscal 2021, we recognize that conditions requiring close attention will continue throughout the fiscal year, given the high level of uncertainty, including the emergence of variants and the spread of vaccinations. Depending on the progress toward containment, increases in credit costs resulting from deterioration in customers' business conditions accompanying an economic downturn, increases in funding costs and other factors may affect the performance of our group.」
Regarding the impact of COVID-19, the company indicated that uncertainty would remain high throughout fiscal 2021 and that the impact on credit costs and funding costs could continue. - FY2021-Q3RestatedAnnual report
「Regarding the impact of COVID-19, although we had assumed that the impact would remain through the end of the year, we have revised our assumption to expect severe economic conditions to continue at least through fiscal 2020, followed by a gradual recovery, given the continued high uncertainty surrounding the spread of the infection.」
The estimate that the impact of COVID-19 would remain at least through fiscal 2020, and the possibility of additional losses if the impact were prolonged, continued to be disclosed as in the previous quarter. - FY2021-Q2WorsenedAnnual report
「Regarding the impact of COVID-19, although we had assumed that the impact would remain through the end of the year, we have revised our assumption to expect severe economic conditions to continue at least through fiscal 2020, followed by a gradual recovery, given the continued high uncertainty surrounding the spread of the infection.」
The assumed period during which the impact of COVID-19 would remain was extended from the end of the year under the previous assumption to at least through fiscal 2020. In light of the uncertainty surrounding the spread of the infection, the expected continuation of severe economic conditions has strengthened. - FY2021-Q1RestatedAnnual report
「In making accounting estimates for the allowance for doubtful accounts and other items, we have assumed that the severe economic conditions caused by the spread of COVID-19 will continue for the time being, followed by a gradual recovery, although the impact will remain through the end of the year. This assumption is uncertain, and additional losses may arise in the future if containment is delayed and the impact is prolonged. There were no material changes to this assumption during the first quarter of the current fiscal year.」
The accounting estimate that the impact of COVID-19 would remain through the end of the year and the possibility of additional losses if the impact were prolonged continued to be disclosed, with no material change in the assumption from the previous fiscal year. - FY2020First statedAnnual report
「For fiscal 2020, we expect the severe economic conditions caused by the spread of COVID-19 to continue for the time being, followed by a gradual recovery, although we expect the impact to remain through the end of the year. Depending on the progress toward containment, increases in credit costs resulting from deterioration in customers' business conditions accompanying an economic downturn, increases in funding costs and other factors may affect the performance of our group.」
The impact of COVID-19 was first disclosed separately as an individual risk involving an economic downturn in fiscal 2020, increased credit costs for customers and increased funding costs.