Risk of a global economic slowdown due to concerns over worsening infectious diseases
First written in FY2020-Q3. 3 of 13 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024.
- FY2024MitigatedAnnual report
「Although the normalization of socioeconomic activity has progressed following the reclassification of the novel coronavirus disease as a Category 5 disease, our group continues to collect relevant information at all times regarding the risk of its spread and, for vessels in operation, is taking measures to ensure safety on board and maintain safe operations based on guidelines for responding to the disease prepared by the Japanese Shipowners’ Association and other organizations.」
The company’s view has changed to one that the normalization of socioeconomic activity has progressed following the reclassification of the novel coronavirus disease as a Category 5 disease. At the same time, it continues to collect information and take measures based on guidelines to ensure safety on board and maintain safe operations. - FY2023MitigatedAnnual report
「As of June 2023, the novel coronavirus disease was trending toward containment. However, our group continues to collect relevant information at all times regarding the risk of its spread and, for vessels in operation, is taking measures to ensure safety on board and maintain safe operations based on guidelines for responding to the disease prepared by the Japanese Shipowners’ Association and other organizations.」
While the company’s view has changed to one that the infectious disease is trending toward containment, it continues to collect information and take measures to ensure safety on board and maintain safe operations. - FY2023-Q3RestatedAnnual report
「Depending on factors including accelerating inflation, rising interest rates, slower global economic growth due to declining investment, the emergence of new coronavirus variants and developments in future geopolitical risks, the deterioration of the global economy could continue or intensify. Preparation and measures are therefore required to address the various risks ahead.」
The company continues to recognize downside risks to the global economy, including the emergence of new coronavirus variants. In addition to infectious disease risks, it identifies inflation, rising interest rates, declining investment and geopolitical risks. - FY2023-Q1Recovery remains under way amid concerns over new variants and inflationAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the global economy remained on the path to recovery from the global economic crisis caused by the spread of the novel coronavirus. Prevention of the spread of infections continued worldwide following the emergence of new variants, while countries took differing approaches, and they had begun to find a path toward moving beyond an economy focused on COVID-19 measures」
The disclosure states that, while the spread of infections caused by new variants and differences in countries’ responses continue, the economy is beginning to move beyond an economy focused on COVID-19 measures and the global economy remains on the path to recovery. - FY2022-Q3Recovery continues amid the resurgence of the Omicron variantAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the global economy was still recovering from the economic crisis caused by the global spread of infections related to the novel coronavirus disease. The emergence of the further-mutated Omicron variant caused infections to spread again worldwide, and countries differed in their responses, including zero-COVID and living-with-COVID approaches. Although concerns about the future could not yet be completely dispelled, the economy was considered to be continuing its steady recovery.」
The disclosure states that the global economy remains on the path to recovery from the effects of the novel coronavirus disease and that the spread of infections has resumed due to the Omicron variant. At the same time, it recognizes differences in the responses of various countries and continuing concerns about the future, while stating that the economy continues to recover steadily. - FY2022-Q2Country-specific infection and economic stagnation risks remain amid continued recoveryAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy was still recovering from the deterioration caused by the spread of the novel coronavirus disease. As the global spread of the novel coronavirus continued, differences emerged between countries in infection conditions as vaccination became more widespread. Some countries saw infections decline and resumed economic activity close to normal, while others saw little improvement, resulting in economic stagnation, including reduced production in the automotive industry due to stalled production activity in those countries. Nevertheless, with future developments finally becoming more predictable, a strong recovery appeared to be continuing.」
The disclosure states that, while the global economy continues to recover against the backdrop of vaccinations, differences remain between countries in infection conditions and the recovery of economic activity, resulting in stalled production and economic stagnation. - FY2022-Q1MitigatedAnnual report
「The global spread of COVID-19 is also in the process of emerging from its worst phase as vaccination coverage expands. Although concerns about the future cannot be dispelled entirely, a strong recovery is considered to be continuing as the outlook has finally become somewhat more predictable.」
Although concerns about the spread of infections themselves remain, the global economy and shipping market conditions continue to recover from their worst period against the backdrop of wider vaccination and economic measures. - FY2021Recovery progressing amid continued infectionsAnnual report
「As vaccination gradually became more widespread and various countries implemented economic measures toward living with and moving beyond COVID-19, the global economy emerged from its worst period sooner than initially expected and a rebound was under way. Although concerns about the future could not be completely dispelled, shipping market conditions continued to recover steadily.」
The company explains that, although the spread of infections and concerns about the future remain, the global economy and shipping market conditions are recovering sooner than expected against the backdrop of vaccinations and measures taken by various countries. - FY2021-Q3Steady recovery amid continued infectionsAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the global economy was still recovering from an economic crisis caused by the global spread of infections and continued to be affected by the novel coronavirus disease from the previous quarter. Although the effects of infections continued worldwide, economic measures taken by various countries toward living with and moving beyond COVID-19 enabled the global economy to emerge from its worst period sooner than initially expected and gradually return to normal conditions. Although concerns about the future could not be completely dispelled, the economy appeared to be continuing its steady recovery.」
The disclosure states that, although the global spread of infections continues, the global economy emerged from its worst period sooner than initially expected and has continued its steady recovery as a result of economic measures taken by various countries. Concerns about the future remain. - FY2021-Q2Recovery progressing amid continued infectionsAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy was recovering from an economic crisis on a scale comparable to the largest since the end of World War II, caused by the global spread of infections and continuing to be affected by the novel coronavirus from the previous quarter. Although infections were still spreading worldwide, economic measures taken by various countries toward living with and moving beyond COVID-19 were gradually helping the global economy emerge from its worst period sooner than initially expected. Although concerns about the future could not be completely dispelled, the economy appeared to be continuing its steady recovery.」
The disclosure states that, although the global spread of the novel coronavirus disease continues, the global economy emerged from its worst period sooner than initially expected and continued to recover as a result of economic measures taken by various countries. Concerns about the future remain. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, the global economy remained in the midst of an economic crisis on a scale comparable to the largest since the end of World War II, continuing to be affected by the novel coronavirus disease, and the number of infected people was still increasing. However, countries gradually implemented measures toward living with and moving beyond COVID-19, and the global economy finally appeared to be emerging from its worst period and continuing to recover amid a degree of calm, although concerns about the future could not be completely dispelled.」
The disclosure describes the continuing effects of the novel coronavirus disease, the rising number of infections and an economic crisis on a scale comparable to the largest since the end of World War II. At the same time, it also notes signs of recovery from the worst period as a result of measures taken by various countries. - FY2020MaterialisedAnnual report
「Continued stagnation in shipping market conditions and a slowdown in shipping market conditions due to the novel coronavirus disease this quarter as well」
The risk from the novel infectious disease, which was a concern as of the third quarter, has appeared in the actual operating environment as a slowdown and stagnation in shipping market conditions. - FY2020-Q3First statedAnnual report
「The global economy is trending downward under the influence of concerns about the future of the global economy due to the worsening of the novel infectious disease and other factors,」
Concerns about the worsening of the novel infectious disease are explicitly identified for the first time, alongside US-China trade friction, geopolitical risks and natural disasters, as a source of concern about the future of the global economy and a factor behind the slowdown in the domestic economy.