Simultaneous Impact of COVID-19 Across All Businesses
First written in FY2020. 5 of 10 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024Business recovery from the impact of COVID-19Annual report
「Across the ORIX Group, recovery from the impact of COVID-19 was seen in businesses including car rentals, accommodation facility operations, aircraft leasing, airport concessions and life insurance, supported in part by strong inbound tourism.」
The company's explanation of the simultaneous, widespread impact of COVID-19 across all businesses shifted to state that recovery had been seen in car rentals, accommodation facilities, aircraft leasing, airport concessions and life insurance, with the impact having largely normalized. - FY2024-Q1RestatedAnnual report
「The company reviewed its future outlook regarding the spread of COVID-19 and related matters. As of the end of the first quarter, there was no material impact on accounting estimates. However, the outlook for a resurgence of the pandemic and a sudden change in the global economic environment remains uncertain and may change rapidly.」
Although uncertainty over a resurgence of COVID-19 and a sudden change in the global economic environment continues, the company explained that there was no material impact on accounting estimates as of the end of the first quarter. - FY2023Divergence in the impact of COVID-19 by business and partial recoveryAnnual report
「During the fiscal year, as the impact of COVID-19 began to ease, the business environment became increasingly uncertain due to heightened geopolitical risks stemming from Russia's invasion of Ukraine, as well as semiconductor shortages, higher crude oil prices, rising interest rates and inflation. We therefore managed the business while paying close attention to changes in the external environment. Although the business environment in the Real Estate and Transportation Equipment segments recovered from the previous fiscal year, profit declined in the Insurance segment as the impact of COVID-19-related factors expanded, and in the ORIX USA and ORIX Europe segments as the business environment deteriorated.」
The impact of COVID-19 was not uniform: real estate and transportation equipment recovered, while the impact expanded in insurance, and profit declined in ORIX USA and ORIX Europe as their business environments deteriorated. - FY2023-Q2RestatedAnnual report
「The company carefully reviewed its future outlook regarding the spread of COVID-19 and related matters. As of the end of the second quarter of the fiscal year, there had been no material changes to the outlook assumed at the end of the previous fiscal year, and there was no material impact on accounting estimates. However, the outlook for a future resurgence of COVID-19 and the resulting sharp global economic slowdown remains uncertain and may change rapidly, so the accounting estimates and forecasts of the company and its subsidiaries may change over time.」
The company stated that there had been no material change from the assumptions made at the end of the previous fiscal year regarding the impact of COVID-19, while uncertainty remained over the outlook for further spread and a sharp global economic slowdown. - FY2022MaterialisedAnnual report
「The business environment for facility operations in the Real Estate segment, airport operations in the Business Investment and Concessions segment, and aircraft leasing in the Transportation Equipment segment did not recover from the previous fiscal year, when they were affected by COVID-19.」
The impact of COVID-19 continued in hotels and inns, airport operations, aircraft leasing and other businesses, and the company stated that recovery had not yet been seen in several businesses. Meanwhile, company-wide profit for the year recovered to ¥312.1 billion. - FY2021MaterialisedAnnual report
「During the fiscal year, some businesses were significantly affected by restrictions on economic and social activity resulting from the spread of COVID-19. Profit for the year attributable to the company's shareholders was ¥192.4 billion, down 36% from the previous fiscal year.」
The impact of COVID-19 on company-wide results materialized over the full year, with profit for the year attributable to the company's shareholders down 36% year on year to ¥192.4 billion. The company also described the long-term impact on real estate, airports and aircraft leasing, among other businesses. - FY2021-Q3MaterialisedAnnual report
「We believe that the impact of COVID-19 on business performance will persist to some extent in the fiscal year ending March 2022.」
The impact of COVID-19 continued in the third quarter, with profit before tax down 40% year on year and quarterly profit attributable to the company's shareholders down 42%. The company also indicated that some impact was expected to remain in the fiscal year ending March 2022. - FY2021-Q2MaterialisedAnnual report
「Including the impact of COVID-19, profit before tax for the six months ended 30 September 2020 was ¥134,174 million, down 41% from ¥228,629 million in the same period of the previous year, while profit for the period attributable to the company's shareholders was ¥93,842 million, down 41% from ¥159,150 million.」
The impact of COVID-19 continued to affect consolidated results for the six months, with both profit before tax and profit attributable to the company's shareholders down 41% year on year. Profit declined in multiple segments, including real estate, concessions, transportation equipment, ORIX USA, and Asia and Australia. - FY2021-Q1MaterialisedAnnual report
「As a result, profit before tax for the first quarter of the fiscal year, including the impact of COVID-19, was ¥67,631 million, down 32% from ¥98,860 million in the same period of the previous year, while profit for the quarter attributable to the company's shareholders was ¥50,048 million, down 28% from ¥69,210 million.」
The impact of COVID-19 began to appear in consolidated results for the first quarter. In real estate, all operating facilities were temporarily closed, while in the concession business, passenger numbers and aircraft movements at the three Kansai airports fell sharply. Overall profit before tax declined 32% year on year. - FY2020First statedAnnual report
「The spread of COVID-19 resulted in losses of approximately ¥15 billion to ¥20 billion in total segment profit.」
COVID-19 was identified for the first time as a major standalone risk, with its effects on hotels and inns, airport concessions, aircraft leasing, credit, asset management and liquidity described. In the fourth quarter, total segment profit actually declined by approximately ¥15 billion to ¥20 billion, including approximately ¥2 billion in hotel operations and approximately ¥3 billion in provisions for doubtful accounts in the United States.