Stagnation of Economic Activity in China and Asia Due to the Spread of COVID-19
First written in FY2020-Q3. 3 of 11 entries say "Materialised", first in FY2021-Q2. Latest entry: FY2023-Q3.
Kpp Group Holdings moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 112 of 175 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2023-Q3Policy easing in China and expectations for recoveryAnnual report
「China's zero-COVID policy, which had continued for 3 years, has been eased abruptly, raising expectations for a full reopening of the economy.」
China eased its pandemic-control policies, prompting expectations for economic reopening. However, during the cumulative third quarter, paper and paperboard demand in China remained sluggish due to the effects of lockdowns and other factors, and the disclosure does not state that the impact of the pandemic has already been resolved. - FY2023-Q2RestatedAnnual report
「With actual demand weak from the beginning of the year, intermittent lockdowns affected demand for paper and paperboard, which remained sluggish, and both sales volumes and net sales fell below the previous year.」
Lockdowns and weak demand associated with China's response to COVID-19 continued to be reflected in paper and paperboard sales volumes and net sales falling below the previous year. - FY2023-Q1WorsenedAnnual report
「Intermittent lockdowns centered on regional cities extended to Shanghai in March. As the government prioritized its zero-COVID policy over the economy, demand for paper and paperboard fell sharply, and both sales volumes and net sales fell below the previous year.」
China's zero-COVID policy and lockdowns in response to COVID-19 have materialized in a sharp decline in paper and paperboard demand and sales volumes and net sales falling below the previous year. - FY2022Recovery prospects coexist with uncertaintyAnnual report
「As COVID-19 vaccinations become widespread, restrictions on the global economy are expected to ease. Although conditions will vary by country, region and industry, the recovery trend is expected to continue, supported by fiscal and monetary policy. However, the timing of an end to the spread of infections cannot currently be forecast, and the outlook is expected to remain uncertain.」
Although a recovery trend driven by widespread vaccination and other factors was indicated, the timing of an end to the spread of infections remained unforeseeable, and uncertainty surrounding pandemic risks continued. - FY2022-Q3RestatedAnnual report
「Economic activity moved toward a gradual recovery as vaccination rates rose and countries implemented economic measures. However, the outlook remained uncertain due to renewed spread of infections caused by COVID-19 variants and disruption to global supply chains stemming from a worldwide semiconductor shortage and disruptions to maritime transport.」
Although vaccination and other factors supporting recovery were identified, renewed spread of infections caused by variants continued, and uncertainty surrounding the impact of COVID-19 on economic activity and demand persisted. - FY2022-Q2MaterialisedAnnual report
「In Japan, infections surged as COVID-19 spread, and repeated declarations of a state of emergency and the issuance of priority preventive measures were implemented. Although vaccination progressed, its effect on the recovery in personal consumption was limited, and economic stagnation continued.」
The surge in infections and declarations of a state of emergency and other measures weakened the recovery in personal consumption, and economic stagnation continued. This has also emerged as a factor limiting the recovery in domestic paper and paperboard demand. - FY2022-Q1MaterialisedAnnual report
「In Japan, exports to China and the United States and production remained firm, and capital investment also recovered as corporate earnings improved. However, the prolonged slump in personal consumption and inbound demand caused by repeated declarations of a state of emergency and the issuance of priority preventive measures amid the renewed spread of COVID-19 resulted in only a limited economic recovery.」
The renewed spread of COVID-19 and declarations of a state of emergency and other measures prolonged the slump in personal consumption and inbound demand, resulting in only a limited economic recovery. The impact of the pandemic on economic activity continues to be reflected in actual performance. - FY2021RestatedAnnual report
「To give top priority to the health of employees and their families and the safety and security of business partners, the Group established a countermeasures committee and has taken measures to prevent the spread of infection from every angle, including telework and working from home, staggered working hours, mask wearing, installation of disinfectant and avoidance of the 3 Cs.」
The impact of COVID-19 on paper demand and economic activity continues to be disclosed, while measures including the countermeasures committee, working from home, staggered working hours, masks, disinfection and avoidance of the 3 Cs remain in place. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter, the global economy remained in a difficult situation, with no end to the spread of COVID-19 in sight. In Japan, the outlook also remained uncertain as a result of the renewed spread of COVID-19.」
In addition to the lack of visibility on the end of the COVID-19 pandemic, the renewed spread of infections in Japan was disclosed, and uncertainty over the economic outlook has continued and intensified. - FY2021-Q2MaterialisedAnnual report
「In the pulp and paper industry, the impact of the spread of COVID-19 has significantly affected paper and paperboard production worldwide, resulting in production below the previous year.」
The impact of the spread of COVID-19 on economic activity and paper and paperboard production worldwide has materialized in the form of lower domestic and overseas sales volumes, operating losses and deteriorating performance. - FY2020-Q3First statedAnnual report
「If pneumonia caused by COVID-19 becomes prolonged, economic activity may stagnate not only in China but across Asia, increasing the risk of a worsening economic downturn.」
The prolonged spread of COVID-19 is identified as a new risk that could exacerbate stagnation in economic activity in China and Asia and worsen economic conditions.