Impact of the Spread of COVID-19 on Economic and Business Activity
First written in FY2020. 5 of 16 entries say "Restated". Latest entry: FY2026.
- FY2026DroppedAnnual reportThe principal business risks for the current fiscal year do not separately identify the duration of the impact of COVID-19 or accounting assumptions as risks.
- FY2024ReframedAnnual report
「The group is reviewing its work practices in response to COVID-19. However, if a large-scale natural disaster or pandemic occurs, employees may be unable to come to work, disrupting business operations and potentially affecting the group's business performance and financial position.」
The focus of the disclosure has shifted from the duration of the impact of COVID-19 and accounting assumptions to the risk that natural disasters and pandemics generally could prevent employees from coming to work and disrupt business operations. - FY2024-Q3RestatedAnnual report
「During the first nine months of the consolidated fiscal year, economic activity in Japan was gradually normalizing after the COVID-19 pandemic, and personal consumption continued to recover moderately. However, the outlook remained uncertain, with energy and raw material prices remaining elevated and concerns about stagnation in personal consumption due to continued inflation.」
While maintaining its recognition that economic activity is gradually returning to normal following the COVID-19 pandemic, the company continues to disclose uncertainty caused by rising prices and persistently high energy and raw material prices. - FY2024-Q2SoftenedAnnual report
「During the first half of the consolidated fiscal year, economic activity in Japan was gradually normalizing after the COVID-19 pandemic, and personal consumption continued to recover moderately. However, the outlook remained uncertain, with energy and raw material prices remaining elevated and concerns about stagnation in personal consumption due to continued inflation.」
The disclosure has changed to state that economic activity is gradually returning to normal following the COVID-19 pandemic, while uncertainty remains due to rising prices and persistently high raw material prices. - FY2023ReframedAnnual report
「The group is reviewing its work practices in response to COVID-19. However, if a large-scale natural disaster or pandemic occurs, employees may be unable to come to work, disrupting business operations and potentially affecting the group's business performance and financial position.」
The focus of the disclosure has shifted from the duration of the impact of COVID-19 and accounting estimates to the risk that natural disasters or pandemics could prevent employees from coming to work and disrupt business operations. - FY2023-Q3RestatedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue to a certain extent during the current consolidated fiscal year. Based on this assumption, the company made accounting estimates, including impairment of property, plant and equipment and the recoverability of deferred tax assets, and concluded that there was no impact. As this assumption involves uncertainty, if the containment of the virus is delayed and the impact becomes prolonged, it could affect the group's financial position and business performance in the future.」
The company continues to disclose the assumption that the impact of COVID-19 will continue to a certain extent during the current consolidated fiscal year and the possibility of an impact on business performance if it becomes prolonged. It states that there was no impact on accounting estimates. - FY2023-Q1RestatedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue to a certain extent during the current consolidated fiscal year. Based on this assumption, the company made accounting estimates, including impairment of property, plant and equipment and the recoverability of deferred tax assets, and concluded that there was no impact. As this assumption involves uncertainty, if the containment of the virus is delayed and the impact becomes prolonged, it could affect the group's financial position and business performance in the future.」
The company reconfirms the assumption that the impact of COVID-19 will continue to a certain extent during the current consolidated fiscal year and the possibility of an impact on business performance if it becomes prolonged. It states that there was no impact on accounting estimates. - FY2022ReframedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue to a certain extent during the next consolidated fiscal year. Based on this assumption, the company made accounting estimates, including impairment of property, plant and equipment and the recoverability of deferred tax assets, and concluded that there was no impact.」
The company moved the disclosure to an assumption that the impact of COVID-19 will continue to a certain extent during the next consolidated fiscal year and states that there was no impact on accounting estimates. - FY2022-Q3RestatedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue to a certain extent during the current consolidated fiscal year. Based on this assumption, the company made accounting estimates, including impairment of property, plant and equipment and the recoverability of deferred tax assets, and concluded that there was no impact. As this assumption involves uncertainty, if the containment of the virus is delayed and the impact becomes prolonged, it could affect the group's financial position and business performance in the future.」
The company continues to disclose the assumption that the impact of COVID-19 will continue to a certain extent and the possibility of an impact on business performance if it becomes prolonged. It states that there was no impact on accounting estimates. - FY2022-Q2SoftenedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue to a certain extent during the current consolidated fiscal year. Based on this assumption, the company made accounting estimates, including impairment of property, plant and equipment and the recoverability of deferred tax assets, and concluded that there was no impact. As this assumption involves uncertainty, if the containment of the virus is delayed and the impact becomes prolonged, it could affect the group's financial position and business performance in the future.」
While maintaining its recognition that the impact of COVID-19 will continue and the risk that it will become prolonged, the company changed the stated duration from "approximately 1 year" in the previous fiscal year to "to a certain extent," no longer specifying a time frame. It states that there was no impact on accounting estimates. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the rollout of COVID-19 vaccinations gradually progressed, but restrictions on corporate activities were prolonged due to the resurgence of infections, and the outlook remained uncertain.」
The company states that restrictions on corporate activities have been prolonged due to the resurgence of infections despite progress in vaccinations, continuing to emphasize the uncertainty in the economic environment caused by COVID-19. - FY2021SoftenedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue for approximately 1 year before the economy recovers.」
The assumed period of the impact of COVID-19 was shortened from "approximately 2 years" in the previous fiscal year to "approximately 1 year." However, the possibility of delayed containment and a prolonged impact continues to be disclosed. - FY2021-Q3WorsenedAnnual report
「During the third quarter of the current consolidated fiscal year, the Japanese economy showed signs of a temporary recovery from the recession caused by the spread of COVID-19. However, the employment environment deteriorated due to the resurgence of infections, personal consumption remained sluggish, and the outlook became extremely uncertain.」
The company states that the employment environment has deteriorated due to the resurgence of COVID-19 and that personal consumption remains sluggish, indicating increasing uncertainty in the economic environment. - FY2021-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, the Japanese economy became extremely uncertain as personal consumption declined due to the spread of COVID-19.」
The company continues to describe the decline in personal consumption and economic uncertainty associated with the spread of COVID-19. The accounting estimates continue to assume that the impact will last for approximately 2 years. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy declined sharply as a result of the global spread of COVID-19, and the outlook became extremely uncertain against the backdrop of a downturn in the global economy. The temporary building leasing industry remained firm, supported in part by resilient capital investment. However, the situation remains uncertain, including the risk of COVID-19 spreading at construction sites. The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue for approximately 2 years before the economy recovers. As this assumption involves uncertainty, if the containment of the virus is delayed and the impact becomes prolonged, it could affect the group's financial position and business performance in the future.」
The company describes a sharp downturn in the global economy and the risk of COVID-19 spreading at construction sites. It assumes that the impact will continue for approximately 2 years; while the impact on economic activity has already materialized, the long-term impact on the group's financial position and business performance is still described only as a possibility. - FY2020First statedAnnual report
「The global spread of COVID-19 is an event with a broad impact on economic activity, daily life and other areas. At present, the group assumes that the impact will continue for approximately 2 years before the economy recovers. As this assumption involves uncertainty, if the containment of the virus is delayed and the impact becomes prolonged, it could affect the group's financial position and business performance in the future.」
Regarding the global spread of COVID-19, the company uses the assumption that the impact will continue for approximately 2 years in its accounting estimates and has newly disclosed the potential impact on its financial position and business performance if the effects become prolonged.