Impact of COVID-19 on the Business and Financial Results
First written in FY2020. 10 of 15 entries say "Restated". Latest entry: FY2024.
19 other companies' latest entry also says "Softened".
- FY2024SoftenedAnnual report
「During the consolidated fiscal year under review, Japan's economy has been recovering moderately, although some areas have recently shown signs of stagnation.」
We indicate our view that the severe economic conditions caused by COVID-19 have eased and that the economy is recovering moderately. - FY2024-Q3RestatedAnnual report
「During the nine-month period of the current consolidated fiscal year, Japan's economy has been recovering moderately as the severe conditions caused by the impact of COVID-19 gradually eased, although some areas have recently shown signs of stagnation.」
We reaffirm our view that the severe economic conditions caused by COVID-19 have gradually eased and that the economy is recovering moderately. - FY2024-Q1SoftenedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy gradually recovered as the severe conditions caused by the impact of COVID-19 gradually eased.」
We indicate our view that the severe economic conditions caused by COVID-19 have gradually eased and that the economy is recovering moderately. - FY2023RestatedAnnual report
「During the consolidated fiscal year under review, Japan's economy showed signs of a gradual recovery as the severe conditions caused by the impact of COVID-19 gradually eased. However, amid continued global monetary tightening and other factors, the economy remained uncertain due to rising raw material prices and supply-side constraints.」
While recognizing that the severe conditions caused by the pandemic have eased, we reaffirm the uncertainty resulting from monetary tightening, rising raw material prices and supply constraints. - FY2023-Q2RestatedAnnual report
「Although we operate in an uncertain business environment due to the impact of COVID-19 and rising raw material prices, we have made a reasonable estimate in calculating the provision for guarantee obligations, assuming that the number of bankruptcies would increase during the fiscal year ending March 2023. There have been no material changes to the assumptions used at the end of the previous consolidated fiscal year.」
We reaffirm our estimate of the provision for guarantee obligations based on an uncertain environment resulting from COVID-19 and rising raw material prices, and on an increase in the number of bankruptcies. - FY2023-Q1RestatedAnnual report
「Although the company is exposed to an uncertain business environment due to the impact of COVID-19 and rising raw material prices,」
We reaffirm our view that the business environment remains uncertain due to COVID-19 and rising raw material prices. - FY2022RestatedAnnual report
「Although the group believes that risks such as an increase in bankruptcies due to COVID-19 can be controlled within a certain range, the timing of the pandemic's containment remains uncertain. If a large-scale pandemic far exceeding expectations occurs and makes it difficult for the group to operate its business, it may have a material impact on the group's financial condition and operating results. To prevent the spread of infection within the group, the group has established a system of thorough hygiene management and a system for changing work arrangements, such as staggered working hours and telework, in the event of an emergency.」
The company reconfirms the risks associated with the timing of pandemic containment and an increase in bankruptcies, as well as countermeasures involving hygiene management and changes to work arrangements. - FY2022-Q3RestatedAnnual report
「As the prolonged stagnation of economic activity makes business improvement prospects uncertain, companies are expected to increasingly become insolvent, and it is necessary to continue closely monitoring bankruptcy trends.」
The company reconfirms the possibility that bankruptcies among companies whose business improvement has become difficult will increase due to the prolonged stagnation of economic activity, including the impact of COVID-19. - FY2022-Q2RestatedAnnual report
「As the prolonged stagnation of economic activity makes business improvement prospects uncertain, companies are expected to increasingly become insolvent, and it is necessary to continue closely monitoring bankruptcy trends.」
The company continues to describe the possibility of greater difficulty improving business performance and an increase in bankruptcies as the impact of COVID-19 is prolonged. - FY2022-Q1RestatedAnnual report
「Although the company is exposed to an uncertain business environment due to significant restrictions on economic activity resulting from the spread of COVID-19, it has made a reasonable estimate of its provision for guarantee obligations, assuming that bankruptcies will increase during the fiscal year ending March 2022.」
The company continues to estimate its provision for guarantee obligations on the assumption that economic activity will be restricted and bankruptcies will increase due to the pandemic, stating that there have been no material changes from the assumptions at the end of the previous consolidated fiscal year. - FY2021MitigatedAnnual report
「To prevent the spread of infection within the group, the group has established a system of thorough hygiene management and regular PCR testing, as well as a system for changing work arrangements, such as staggered working hours and telework, in the event of an emergency.」
To address infection risk, the company has established a system of hygiene management, regular PCR testing, and changes to work arrangements, including staggered working hours and telework. - FY2021-Q3RestatedAnnual report
「Looking at the environment surrounding the group, the number of corporate bankruptcies in 2020 was 7,809, down 6.5% year on year according to Teikoku Databank. Although various benefits and government-backed financing programs offering effectively interest-free, unsecured loans appear to have helped contain corporate bankruptcies, the number of bankruptcies is expected to increase going forward among companies for which support measures cannot keep pace with a sharp deterioration in performance or that cannot establish prospects for business improvement. Bankruptcy trends therefore require continued monitoring.」
While bankruptcies appear to have been contained by various support measures, the company continues to describe the possibility of an increase in bankruptcies in an environment where the impact of COVID-19 is prolonged. - FY2021-Q2RestatedAnnual report
「Looking at the environment surrounding the group, the number of corporate bankruptcies in the six months ended the second quarter of the current consolidated fiscal year was 3,956, down 5.2% year on year according to Teikoku Databank. Although various benefits and government-backed financing programs offering effectively interest-free, unsecured loans appear to have helped contain corporate bankruptcies during the period, the number of bankruptcies is expected to increase if the impact of the COVID-19 pandemic is prolonged, as companies may be unable to establish prospects for business improvement. Bankruptcy trends therefore require continued monitoring.」
The company continues to describe the possibility of an increase in bankruptcies and difficulty improving business performance due to the prolonged impact of the pandemic. Additional information also states that the estimate of the provision assumes an increase in bankruptcies during the fiscal year ending March 2021. - FY2021-Q1WorsenedAnnual report
「Although the company is exposed to an uncertain business environment due to significant restrictions on economic activity resulting from the spread of COVID-19 and the associated increase in bankruptcies, it has made a reasonable estimate of its provision for guarantee obligations, assuming that bankruptcies will increase during the fiscal year ending March 2021.」
The company estimates its provision for guarantee obligations on the assumption that economic activity will be restricted and bankruptcies will increase due to the pandemic, including an increase in bankruptcies during the fiscal year ending March 2021. It also states that there have been no material changes from the assumptions at the end of the previous fiscal year. - FY2020First statedAnnual report
「Although the group believes that risks such as an increase in bankruptcies due to COVID-19 can be controlled within a certain range, the timing of the pandemic's containment remains uncertain. If a large-scale pandemic far exceeding expectations occurs and makes it difficult for the group to operate its business, it may have a material impact on the group's financial condition and operating results.」
The company has identified for the first time the timing of COVID-19 containment, an increase in bankruptcies, and difficulty operating the business due to a large-scale pandemic as major risks.