Risk of Economic Disruption and Supply Chain Disruptions Caused by COVID-19
First written in FY2020. 4 of 16 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2025-H1.
The whole theme swung hardest in 2020: 102 of 175 companies on the "Worse" side.
- FY2025-H1DroppedAnnual report
「During the interim consolidated accounting period under review, there were no significant changes in the matters described in this interim 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.」
Regarding economic disruption and supply chain disruption caused by COVID-19, the summary stated only that there was no separate disclosure in the business environment and risk discussion for the interim period and no material change. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year under review, economic activity in Japan continued to normalize after the COVID-19 pandemic, and the economy continued to recover gradually.」
The normalization of economic activity after the COVID-19 pandemic and gradual economic recovery continued to be reported, while economic disruption caused by the pandemic was no longer a prominent issue. - FY2024-Q1SoftenedAnnual report
「During the cumulative first quarter of the fiscal year under review, economic activity in Japan moved toward normalization, partly because COVID-19 was reclassified under the Infectious Diseases Control Law as a Category 5 disease, and the economy recovered gradually.」
Normalization of economic activity and economic recovery were reported against the backdrop of COVID-19's reclassification as a Category 5 disease, and the impact of the economic disruption caused by COVID-19 was described as weaker than through the previous fiscal year. Meanwhile, price and geopolitical risks unrelated to the pandemic remained. - FY2023Balancing pandemic response with economic activityAnnual report
「Although the business environment surrounding the group moved toward normalization of economic activity after the COVID-19 pandemic, recovery remained gradual against the backdrop of supply constraints caused by component shortages and advancing inflation.」
While economic disruption caused by COVID-19 was characterized as easing as economic activity moved toward normalization, component shortages and inflation remained factors constraining the recovery. - FY2023-Q3Balancing economic activity amid renewed spread of infectionsAnnual report
「During the cumulative third quarter of the fiscal year under review, the Japanese economy continued to recover gradually. Although COVID-19 infections spread again, activity restrictions were not imposed, and progress was made in balancing measures to address the pandemic with economic activity.」
Although infections continued to spread again, progress was made in balancing measures to address the pandemic with economic activity without activity restrictions, and the recovery of the economy continued. For accounting purposes, the company continued to state that the impact of COVID-19 could have a material effect in the future. - FY2023-Q2Mitigation of the pandemic's impact and continuing uncertaintyAnnual report
「During the cumulative second quarter of the fiscal year under review, the Japanese economy continued to recover gradually, although COVID-19 infections rose again, as restrictions on activity were lifted and the impact of supply constraints caused by component shortages and other factors eased.」
Although infections continued to spread again, economic recovery driven by the lifting of activity restrictions and easing supply constraints was reported. However, the company continued to state for accounting purposes that the impact of COVID-19 could have a material effect on future financial statements. - FY2023-Q1RestatedAnnual report
「The company is considering accounting estimates and assumptions on the premise that the impact of the spread of COVID-19 will continue for a certain period. However, the impact of the spread of COVID-19 involves many uncertain factors, and changes in circumstances going forward could have a material impact on the consolidated financial statements in future periods.」
The company continued to state the assumption that the impact of COVID-19 would continue for a certain period, along with the uncertainty that it could have a material impact on future consolidated financial statements. - FY2022WorsenedAnnual report
「Meanwhile, shortages of semiconductors and other components amid the COVID-19 pandemic disrupted supply chains and became a factor weighing on economic activity. In addition, US-China trade tensions and Russia's invasion of Ukraine have created an uncertain outlook for the global economy, including the prospect of a further worsening of semiconductor shortages and higher energy and resource prices.」
While economic recovery driven by vaccine rollouts was evident, shortages of semiconductors and other components and supply chain disruptions continued, compounded by a further worsening of shortages and higher resource prices resulting from Russia's invasion of Ukraine. - FY2022-Q3Economic recovery alongside supply constraints and the Omicron variantAnnual report
「During the cumulative third quarter of the fiscal year under review, the Japanese economy remained affected by COVID-19, but the number of infections declined as vaccination progressed and economic activity gradually began to recover. Overseas, economic activity resumed, mainly in Europe, the United States and China, and economic recovery progressed. Meanwhile, global shortages of semiconductors, electronic components and other products caused by factory shutdowns and lockdowns related to COVID-19 became evident, disrupting supply chains. In addition, resource prices rose sharply, and the Omicron variant of COVID-19 had recently begun spreading rapidly worldwide, leaving the global economy in a situation that remained difficult to predict.」
While economic recovery in Japan and overseas was driven by vaccination, shortages of semiconductors and other products caused by factory shutdowns and lockdowns, supply chain disruptions, rising resource prices and the spread of the Omicron variant persisted as new sources of uncertainty. - FY2022-Q2WorsenedAnnual report
「Overseas, economic activity moved toward normalization as vaccination progressed in Europe, the United States and China. In Southeast Asia, lockdowns related to COVID-19 caused factory shutdowns and logistical disruptions. This led to shortages of semiconductors, electronic components and other products, disrupting supply chains.」
While economic normalization progressed in Europe, the United States and China, COVID-19-related lockdowns in Southeast Asia caused factory shutdowns and logistical disruptions, resulting in actual shortages of semiconductors and electronic components and supply chain disruptions. - FY2022-Q1Recovery alongside renewed spread of variant strainsAnnual report
「Although COVID-19 was showing signs of spreading again worldwide, economic activity resumed with the rollout of vaccines, and demand for electronic components and automobiles was recovering.」
While the renewed spread of COVID-19 continued, the recovery of economic activity and demand in Japan, China and the United States was disclosed against the backdrop of vaccine rollouts. The spread of variant strains continued in some areas of India and ASEAN, leaving uncertainty related to the pandemic. - FY2021WorsenedAnnual report
「As the spread of COVID-19 led the Japanese government to issue a third declaration of a state of emergency and strongly request that people refrain from going out, stagnating consumption, supply chain disruptions and factory shutdowns continued, with no end in sight.」
The infectious disease risk continued to materialize through the third state of emergency, stagnation in consumer activity, supply chain disruptions and factory shutdowns. For accounting purposes, estimates were made on the assumption that the impact would continue through the first half of fiscal 2021. - FY2021-Q3RestatedAnnual report
「At 電計科技研発（上海）股份有限公司, which operates a contract testing laboratory in China, there was a period when contract testing services could not be performed because of local movement restrictions, resulting in substantial decreases in revenue and profit. Although some other sales subsidiaries, including locations in South Korea and Taiwan, remained relatively solid, many locations were forced to report lower revenue and profit, partly because of the impact of COVID-19.」
The impact of COVID-19 continued to be described as operating constraints at the Shanghai contract testing laboratory, substantial decreases in revenue and profit, and lower revenue and profit at numerous overseas sales subsidiaries. - FY2021-Q2WorsenedAnnual report
「At 電計科技研発（上海）股份有限公司, which operates a contract testing laboratory in China, there was a period when contract testing services could not be performed because of local movement restrictions, resulting in substantial decreases in revenue and profit. Although some other sales subsidiaries, including locations in South Korea and Taiwan, remained relatively solid, many locations were forced to report lower revenue and profit, partly because of the impact of COVID-19.」
The impact of COVID-19 continued and expanded, taking the form of suspended operations at the Shanghai contract testing laboratory, substantial decreases in revenue and profit, and lower revenue and profit at numerous overseas sales subsidiaries. - FY2021-Q1MaterialisedAnnual report
「In Japan, the economy deteriorated rapidly, partly because of the impact of requests to refrain from going out following the state of emergency declared in April. Overseas as well, economic activity was significantly constrained by COVID-19, including lockdowns in major cities worldwide, and some of the group's overseas locations were significantly affected, with sales falling by half year on year in some months.」
The deterioration in economic conditions and lockdowns caused by COVID-19 actually affected the group through constraints on economic activity in Japan and overseas and a halving of sales at overseas locations. For accounting purposes, the company is considering estimates on the assumption that the impact will continue for a certain period. - FY2020First statedAnnual report
「With the spread of COVID-19, delays in product supplies were expected due to factory shutdowns and supply chain disruptions, while the timing of the pandemic's end remained unforeseeable.」
Factory shutdowns, supply chain disruptions, product supply delays and uncertainty over when the pandemic would end were first organized as a separate major risk arising from COVID-19. The disclosure states that the spread of the virus and economic disruption actually occurred during the period.