Risk of Advertising Market Contraction Due to the Spread of COVID-19
First written in FY2021. 2 of 8 entries say "Worsened", first in FY2022-Q1. Latest entry: FY2023.
The whole theme swung hardest in 2025: 1 of 7 companies on the "Worse" side.
5 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual reportThe contraction of the advertising market due to the spread of COVID-19 is not listed as a separate risk factor.
- FY2023-Q3RestatedAnnual report
「Recently, although the easing of restrictions on activities related to COVID-19 has led to signs of a move toward the normalization of social and economic activity,」
For COVID-19, the disclosure continues to describe, as in the previous quarter, the easing of restrictions on activities and the move toward normalization of social and economic activity. - FY2023-Q2MitigatedAnnual report
「Recently, although the easing of restrictions on activities related to COVID-19 has led to signs of a move toward the normalization of social and economic activity,」
For COVID-19, the disclosure describes the easing of restrictions on activities and the move toward normalization of social and economic activity. At the same time, uncertainty regarding the impact on the economy remains. - FY2022SoftenedAnnual report
「Likelihood: Low; expected timing: within 1 year; impact: Medium If the COVID-19 pandemic does not move toward containment and continues to spread for an extended period in Japan and other major countries overseas, more serious economic impacts are expected, including a contraction in the advertising market and a decline in personal consumption.」
The risk assessment is explicitly stated as likelihood "Low," impact "Medium" and timing "within 1 year." References to the situation in Ukraine and global inflation included in the previous quarter have been removed. - FY2022-Q3WorsenedAnnual report
「In addition, a further resurgence of COVID-19 infections, a prolonged situation in Ukraine and global inflation could worsen economic conditions and affect the Company's financial position and operating results.」
The disclosure continues to identify the risk of worsening economic conditions due to a further resurgence of COVID-19 infections, and also cites global inflation as a contributing factor. - FY2022-Q2MitigatedAnnual report
「Although the explosive resurgence of COVID-19 infections driven by new variants has recently begun to slow, uncertainty remains in the economic environment due to the situation in Ukraine and other factors. A further resurgence of infections or a prolonged situation in Ukraine could worsen economic conditions and affect the Company's financial position and operating results.」
The disclosure states that the explosive resurgence of COVID-19 infections has begun to slow and notes some improvement in infection conditions since the previous quarter. However, it continues to identify the possibility of a further resurgence. - FY2022-Q1WorsenedAnnual report
「The recent resurgence of COVID-19 infections due to new variants has left the outlook uncertain, and a prolonged time to contain the infection could adversely affect the company's financial position and operating results through a deterioration in economic conditions.」
The disclosure describes the recent resurgence of infections due to new variants and continues to indicate the potential impact on economic conditions, the financial position and operating results. - FY2021First statedAnnual report
「If the coronavirus outbreak fails to subside and continues to spread for an extended period in Japan and other major countries overseas, more serious economic effects are expected, potentially leading to a contraction in the advertising market and a decline in personal consumption.」
It states that a reduction in customers' advertising budgets could lead to lower revenue.