Economic Stagnation and Impact on Financial Performance Due to COVID-19
First written in FY2021-Q1. 4 of 12 entries say "Restated". Latest entry: FY2024-Q3.
Asahi Intelligence Service 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: 110 of 173 companies on the "Worse" side.
56 other companies' latest entry also says "Dropped".
- FY2024-Q3DroppedAnnual reportThe current quarter's discussion of operating results contains no direct reference to the previously described economic stagnation and business performance impacts caused by COVID-19.
- FY2024-Q2MitigatedAnnual report
「During the cumulative second quarter, Japan's economy continued to recover gradually as socioeconomic activity normalized. Employment and income conditions remained firm alongside improving corporate earnings, while personal consumption also recovered.」
The company describes the normalization of socioeconomic activity, improving corporate earnings, firm employment and income conditions, and the recovery in personal consumption, indicating an improvement from the pandemic-related economic stagnation and business performance impacts. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter, Japan's economy continued to recover gradually as socioeconomic activity normalized in preparation for the post-COVID period. Corporate earnings and employment and income conditions remained firm, while personal consumption also recovered.」
The company describes the normalization of socioeconomic activity in preparation for the post-COVID period and the continuation of the economic recovery, indicating an improvement from the previous situation of pandemic-related economic stagnation and business performance impacts. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter, Japan's economy continued to recover as socioeconomic activity remained normalized with comprehensive COVID-19 measures in place. Corporate earnings and employment and income conditions remained firm, and personal consumption also recovered gradually. However, the outlook remains uncertain because of concerns over an economic downturn, including price increases caused by the prolonged situation in Ukraine and the weaker yen, as well as a resurgence of COVID-19.」
While describing the normalization of socioeconomic activity and the trend toward economic recovery, the company reconfirms the uncertainty surrounding the outlook due to a resurgence of COVID-19, the prolonged situation in Ukraine, the weaker yen and rising prices. - FY2023-Q2RestatedAnnual report
「However, the outlook remains extremely uncertain because of concerns over an economic downturn, including the resurgence of COVID-19, the prolonged situation in Ukraine, and rising raw material costs and prices resulting from the yen's depreciation.」
While describing the normalization of socioeconomic activity and the resilience of corporate earnings and other factors, the company reconfirms concerns over an economic downturn resulting from a resurgence of COVID-19, the prolonged situation in Ukraine, the weaker yen, higher raw material costs and rising prices. - FY2023-Q1WorsenedAnnual report
「However, the outlook remains extremely uncertain because of concerns over an economic downturn, including the resurgence of COVID-19, the prolonged situation in Ukraine, and rising prices resulting from higher raw material costs caused by the weaker yen.」
While restrictions related to COVID-19 are being eased and economic activity is returning to normal, concerns over an economic downturn, including a resurgence of the pandemic, are identified as an outlook risk. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter, Japan's economy remained in a difficult situation. Although corporate earnings were recovering and employment and income conditions remained firm, the reissuance of states of emergency covering specific regions in response to the resurgence of COVID-19 led people to refrain from activities and restricted economic activity, reducing personal consumption.」
The company states that states of emergency associated with the resurgence of COVID-19, voluntary restrictions on activities and restrictions on economic activity have continued. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter, Japan's economy remained in a difficult situation. Although corporate earnings were recovering and employment and income conditions remained firm, the reissuance of states of emergency covering specific regions in response to the resurgence of COVID-19 led people to refrain from activities and restricted economic activity, reducing personal consumption.」
The company states that the reissuance of states of emergency in response to the resurgence of COVID-19, voluntary restrictions on activities and restrictions on economic activity have continued. - FY2021MaterialisedAnnual report
「Under these circumstances, the company faced various constraints on its business activities, including the postponement of customers' system investment plans and the inability to conduct face-to-face sales activities because business operations shifted to a telework environment.」
The company states that COVID-19 actually caused customers to postpone system investment plans and constrained face-to-face sales activities. At the full-year level, however, it secured year-on-year increases in revenue and profit. - FY2021-Q3MaterialisedAnnual report
「However, profits declined because the impact of COVID-19 led customers to postpone system investment plans and because engineers' utilization rates remained sluggish.」
The company states that the postponement of customers' system investment plans and sluggish engineer utilization rates continued as a result of COVID-19, resulting in lower profits. - FY2021-Q2MaterialisedAnnual report
「However, profits declined because the impact of COVID-19 led customers to postpone system investment plans and because engineers' utilization rates remained sluggish.」
The company states that COVID-19 caused customers to postpone system investment plans and engineers' utilization rates to remain sluggish, resulting in lower profits. - FY2021-Q1First statedAnnual report
「During the cumulative first quarter, economic activity stagnated as COVID-19 spread worldwide. In Japan, the issuance of states of emergency and other measures significantly restricted socioeconomic activity, causing corporate earnings, employment and income conditions, personal consumption and all other areas to deteriorate sharply, while the economy remained in an extremely severe situation. Even after the states of emergency were lifted, the outlook for an economic recovery remained unclear, and the future remained uncertain. The impact of COVID-19 during the cumulative first quarter was limited, but we believe a certain degree of impact on future business performance will be unavoidable.」
The spread of COVID-19, the stagnation of economic activity, restrictions on socioeconomic activity and the economic downturn are described as independent risks for the first time. While the pandemic has had an economic impact, its effect on the company's performance in the quarter was limited, and the company states that a certain degree of future impact will be unavoidable.