Impact of COVID-19 on Capital Investment and Business Activities
First written in FY2020. 4 of 15 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025Reframed from risks specific to COVID-19 to risks associated with pandemics generallyAnnual report
「We will strengthen our crisis management measures so that we can continue operating even if a major infectious disease such as COVID-19 spreads, while minimizing the risk of infection among employees and business partners.」
The infectious-disease theme, whose direct references had previously disappeared, has been restated as a business and other risk associated with major infectious diseases generally rather than the impact of a specific disease, COVID-19. - FY2024-Q3DroppedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The FY2024-Q3 main text contains no direct reference to the impact of COVID-19 on capital investment or sales activities, or to business continuity measures, and the topic has disappeared following the easing trend described through the previous quarter. - FY2024-Q2MitigatedAnnual report
「During the six-month period ended 30 September 2023 (from 1 April 2023 to 30 September 2023), the Japanese economy continued to recover moderately as social and economic activity normalized following the COVID-19 pandemic, driven mainly by domestic demand.」
It states that social and economic activity continued to normalize following the COVID-19 pandemic and that the economy maintained a recovery trend centered on domestic demand. Constraints on business activity caused by infectious diseases continued to ease. - FY2024-Q1MitigatedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan's economy remained on a gradual recovery trend as constraints on social activity caused by COVID-19 were largely eliminated, against a backdrop of improving corporate earnings and employment and income conditions.」
It states that restrictions on social activity arising from infectious diseases, including behavioral restrictions and business constraints, have largely been lifted, and that corporate earnings and the employment and income environment have improved. - FY2023-Q3Recovery from eased restrictions on activities coexisting with the continued impact of infectious diseasesAnnual report
「During the first three quarters of the current consolidated cumulative period (from 1 April 2022 to 31 December 2022), the Japanese economy showed signs of a gradual recovery in economic activity due in part to the easing of restrictions on activities, while the impact of COVID-19 continued.」
The company states that, while the impact of COVID-19 continued, economic activity was gradually recovering due in part to the easing of restrictions on activities. - FY2023-Q2Prolonged impact of infectious diseases coexisting with a recovery under living with COVID-19Annual report
「While the impact of COVID-19 continued for an extended period, a gradual recovery was seen as countries worldwide shifted to living-with-COVID policies」
While the impact of infectious diseases continued for an extended period, the company also describes a gradual economic recovery following the shift to living-with-COVID policies, with recovery factors and ongoing impacts coexisting. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period (from 1 April 2022 to 30 June 2022), the Japanese economy sought to balance infection control measures and economic activity while the impact of COVID-19 continued」
The company describes the continued impact of COVID-19 and efforts to balance infection control measures with economic activity. - FY2022RestatedAnnual report
「The company is promoting telework and strengthening crisis management so that it can continue its business while minimising the infection risks to employees and business partners even if COVID-19 spreads. However, if infections spread in Japan and worldwide, changes in customers' business environments could delay or halt their capital investment plans, disrupt the Group's sales and business activities, and temporarily have a significant impact on the Group's performance.」
While continuing measures to maintain business continuity through telework and crisis management, the company reconfirms delays or suspensions of capital investment plans and disruptions to sales activities caused by the spread of infection as risks. - FY2022-Q3Added concerns about a resurgence caused by a new variantAnnual report
「Amid concerns about a resurgence of infections caused by the emergence of a new variant, the outlook remains uncertain.」
The company identifies a resurgence of infections caused by a new variant and continued uncertainty about the outlook as ongoing business activity risks related to infectious diseases. - FY2022-Q2RestatedAnnual report
「To prevent the spread of COVID-19, face-to-face sales activities continued to be restricted, particularly in major metropolitan areas, resulting in lower sales to the steel, plant engineering and other industries」
As in the previous year, restrictions on face-to-face sales to prevent the spread of infectious diseases and lower sales to certain industries continued. - FY2022-Q1RestatedAnnual report
「To prevent the spread of COVID-19, face-to-face sales activities continued to be restricted, particularly in major metropolitan areas, from the previous year, resulting in lower sales to the plant engineering, petrochemical and steel industries」
The company states that restrictions on face-to-face sales and declines in sales to certain industries continued from the previous year. - FY2021-Q3WorsenedAnnual report
「The spread of infectious diseases has again become more serious, and the outlook remains uncertain.」
While some signs of improvement were seen in economic activity, the resurgence of COVID-19 became more serious, and uncertainty about its impact increased again. - FY2021-Q2MaterialisedAnnual report
「Replacement demand associated with scheduled maintenance in complex areas for the petrochemical and plant engineering industries remained steady. However, face-to-face sales activities were restricted to prevent the spread of COVID-19, and companies adopted a cautious stance toward capital investment amid deteriorating earnings caused by the economic downturn. As a result, sales declined, particularly to the steel, automotive-related and construction machinery industries. Revenue for the six months ended the second quarter was ¥16,232 million (down 4.1% year on year), gross profit was ¥2,574 million (down 6.3%), operating profit was ¥457 million (down 29.4%), ordinary profit was ¥480 million (down 28.7%), and net profit attributable to owners of the parent was ¥299 million (down 32.8%).」
Restrictions on face-to-face sales due to the spread of infectious diseases, more cautious capital investment and declines in sales actually occurred, and key profit indicators also declined year on year. - FY2021-Q1MaterialisedAnnual report
「In the petrochemical, steel and other industries, which are the Group's main customer industries, production plants experienced lower operating rates and shutdowns due to the spread of COVID-19, amid concerns about a stagnating global economy caused by US-China trade friction and the slowdown of the Chinese economy」
The company states that lower operating rates and shutdowns at production plants actually occurred due to COVID-19. Restrictions on sales activities and declines in sales are also described. - FY2020First statedAnnual report
「With the spread of COVID-19, even in the domestic market, the Group's main business area, the company expects the impact of restrained capital investment, supply chain disruptions and restrictions on sales activities due to telework and shortened working hours, and estimates that the Group's revenue in the following consolidated fiscal year may decline by approximately 7% compared with the current consolidated fiscal year.」
For the first time, the company explicitly identified delays or suspensions of capital investment, supply chain disruptions and restrictions on sales activities as risks related to COVID-19, and expects revenue in the following consolidated fiscal year to potentially decline by approximately 7%.