Impact of COVID-19 on Demand for Events and Recruitment
First written in FY2021. 6 of 13 entries say "Softened", first in FY2022-Q1. Latest entry: FY2026.
Media Research Institute moved to the "Worse" side of this theme in 2022, 2 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 24 of 28 companies on the "Worse" side.
2 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「One of the Group's principal services is job-hunting events for technical college students, university students and others, which it holds in person across Japan. If the occurrence and spread of a large-scale infectious disease restricts travel or the holding of events attended by large numbers of people, events may be cancelled, postponed or changed to a different format.」
The company has reorganized the previous description, which was limited to COVID-19, to cover the impact of large-scale infectious diseases in general on event operations and recruitment activities, as well as responses involving information gathering and changes to event formats. - FY2025RestatedAnnual report
「The Group holds events primarily for highly specialized personnel, including technical college students and science and engineering university students, and the participating companies are mainly high-quality companies such as listed companies and major corporations. It therefore assesses the risk that the pandemic will affect revenue as minimal and its impact on operating performance as minor.」
While assessing the impact of the pandemic on revenue as minimal and minor, the company continues to disclose the possibility of adverse effects if the shift from in-person to online events or the decline in companies' recruitment appetite becomes prolonged. - FY2024SoftenedAnnual report
「The Group holds events primarily for highly specialized personnel, including technical college students and science and engineering university students, and the participating companies are mainly high-quality companies such as listed companies and major corporations. It therefore assesses the risk that the pandemic will affect revenue as minimal and its impact on operating performance as minor.」
While assessing the impact of the pandemic on revenue as minimal and minor, the company continues to conditionally acknowledge the possibility of adverse effects if it becomes prolonged, although its current risk assessment is less severe than previously. - FY2024-Q3RestatedAnnual report
「Although the Japanese economy during the cumulative third quarter was on a gradual recovery trend in economic and social activity, supported by the normalization of economic activity from the COVID-19 pandemic and the emergence of pent-up demand,」
The company stated that economic and social activity was increasingly returning to normal from the COVID-19 pandemic, while separately noting that uncertainty in the external environment remained. Its assessment of the risk to event and recruitment demand from the pandemic was unchanged. - FY2024-Q2SoftenedAnnual report
「Although the Japanese economy during the cumulative second quarter was on a gradual recovery trend in economic and social activity, supported by the subsiding impact of COVID-19 and the emergence of pent-up demand,」
The company indicated that the impact of COVID-19 had subsided and described the risk to event and recruitment demand from the pandemic in less severe terms than through the previous quarter. - FY2024-Q1SoftenedAnnual report
「The impact of COVID-19 is subsiding, and economic and social activity is returning to normal.」
The company stated that the impact of COVID-19 was subsiding and that economic and social activity was returning to normal, and described the risk in less severe terms than previously. - FY2023-Q3RestatedAnnual report
「Although it is difficult to accurately predict when the impact of the spread of COVID-19 will subside, as of the date of preparation of the quarterly consolidated financial statements for the cumulative third quarter, the company assumed that the impact on its business activities was minor. Accordingly, in preparing those quarterly consolidated financial statements, the company assumed that COVID-19 would have no material impact on the accounting estimates used. However, the impact of the spread of COVID-19 remains highly uncertain and may affect the Group's operating results, financial position and cash flows from the fourth quarter onward.」
While assuming that the impact on business activities was minor and not material, the company continued to disclose the uncertainty over when the outbreak would subside and the possibility of an impact from the fourth quarter onward. - FY2023-Q2SoftenedAnnual report
「Although the Japanese economy remained uncertain as the number of COVID-19 cases was trending upward, there were signs of a resumption of economic activity during the cumulative second quarter. With the shift toward living with COVID-19, its impact on the company's core business of recruiting science and engineering graduates remained minor.」
Although the increase in infections and uncertainty remained, the company explained that the resumption of economic activity and the shift toward living with COVID-19 had kept the impact on its science and engineering recruitment business minor. - FY2022MaterialisedAnnual report
「University job-hunting events were frequently changed at short notice from in-person to online because of the renewed spread of COVID-19. As a result, revenue in this area declined, partly because the company was unable to sufficiently differentiate its events from online events held by other companies.」
The renewed spread of COVID-19 resulted in actual last-minute changes from in-person to online events, and revenue from events for university students declined 24.4% year on year. Meanwhile, the impact on events for technical college students was judged to be minor. - FY2022-Q3SoftenedAnnual report
「Although it is difficult to accurately predict when the impact of the spread of COVID-19 will subside, as of the date of preparation of the quarterly financial statements for the cumulative third quarter, the company assumed that the impact on its business activities was minor. Accordingly, in preparing those quarterly financial statements, the company assumed that COVID-19 would have no material impact on the accounting estimates used. However, the impact of the spread of COVID-19 remains highly uncertain and may affect the company's operating results, financial position and cash flows from the fourth quarter onward.」
As of the third quarter, the impact on business activities was minor, and the company assumed that there would be no material accounting impact. However, the possibility of an impact from the fourth quarter onward remains. - FY2022-Q2MaterialisedAnnual report
「The company had been preparing to hold all "joint company information sessions for technical college students" in person. However, due to the rapid spread of the Omicron variant of COVID-19, most events were held after being changed from in-person to online. The shift online reduced cost of sales.」
Due to the rapid spread of the Omicron variant, most events were in fact changed from the planned in-person format to an online format. At the same time, holding them online reduced cost of sales. - FY2022-Q1SoftenedAnnual report
「Accordingly, in preparing the quarterly financial statements for the cumulative first quarter, the company assumed that COVID-19 would have no material impact on the accounting estimates used. However, the impact of the spread of COVID-19 remains highly uncertain and may affect the company's operating results, financial position and cash flows from the second quarter onward.」
Although the company assumed that COVID-19 would have no material impact on accounting estimates for the quarter, the possibility of an impact from the second quarter onward remains, and the wording regarding the current impact has become more limited than in the previous fiscal year. - FY2021First statedAnnual report
「Due to the impact of the spread of COVID-19, most job-hunting events were changed from in-person events, where companies set up booths at event venues for students to attend, to online events, where students and companies contact each other through the online joint job fair site operated by the company. Although revenue declined due to the cancellation of some events and a decrease in the number of exhibiting companies, cost of sales, including venue, setup, travel and transportation expenses, fell substantially, resulting in higher profit at each stage than in the same period of the previous year.」
Event cancellations, a decline in the number of exhibiting companies and the shift online occurred in practice, and revenue declined 4.5% year on year, while profit increased.