Sharp Decline in Orders and Deterioration in Performance Due to the Spread of COVID-19
First written in FY2020. 4 of 15 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2026.
Satoh& moved to the "Worse" side of this theme in 2020.
2 other companies' latest entry also says "Dropped".
- FY2026DroppedAnnual report
「During the fiscal year under review, the Japanese economy remained on a gradual recovery trend, supported by improvements in employment and income conditions.」
This filing contains no explicit reference to a sharp decline in orders or deterioration in performance due to COVID-19, and the previous disclosure of this risk as a separate risk factor has been removed. - FY2025-H1SoftenedAnnual report
「As the impact of COVID-19 has subsided and socioeconomic activity is normalizing, conditions for employment and income are improving.」
It states that the impact of COVID-19 has subsided and socioeconomic activity is normalizing, further reducing the assessed risk of a sharp decline in orders and deterioration in performance due to the infectious disease. - FY2024-Q3SoftenedAnnual report
「During the third-quarter consolidated cumulative period (1 April 2023 to 31 December 2023), the Japanese economy saw restrictions on movement lifted following the reclassification of COVID-19 to Category V, and the normalization of economic activity progressed, making the movement toward a recovery in domestic economic conditions increasingly clear.」
It states that, following the reclassification of COVID-19 to Category V, the lifting of restrictions on movement made the movement toward the normalization of economic activity and an economic recovery increasingly clear, further reducing the assessed risk of a sharp decline in orders and deterioration in performance due to the infectious disease. - FY2024-Q1SoftenedAnnual report
「The normalization of economic activity is progressing and domestic consumption is on a recovery trend, partly because restrictions on movement related to COVID-19 have been eased and COVID-19 has been downgraded to Category V under the Infectious Diseases Act.」
It states that the easing of restrictions on movement and the change in COVID-19's classification under the Infectious Diseases Act are supporting the normalization of economic activity and the recovery in consumption, indicating a reduced assessment of the risk of a sharp decline in orders and deterioration in performance due to COVID-19. However, uncertainty about the outlook is discussed separately. - FY2023SoftenedAnnual report
「Effective 8 May 2023, COVID-19 was downgraded from Category II to Category V under the Infectious Diseases Act. The significant easing of infection-control measures is expected to stimulate social activity and support a recovery in personal consumption. However, changes in the timing of the containment of the infectious disease or its impact on the economic environment could materially affect the performance of the Group.」
The disclosure adds that the downgrade under the Infectious Diseases Act and the easing of infection-control measures are expected to support a recovery in social activity and consumption, indicating a reduced risk assessment. However, the possibility of an impact on performance remains. - FY2023-Q2Recovery trend becoming clearer, but still below pre-pandemic levelsAnnual report
「As a result, although the company has not yet recovered to its pre-COVID operating levels, the recovery trend has become clear.」
It states that, while the effects of COVID-19 remain, the recovery trend in operating performance has become clear. However, performance remains below pre-COVID levels. - FY2023-Q1Recovery and concerns about renewed spread coexistAnnual report
「While the impact of COVID-19 has been prolonged, the recovery in human mobility following increased opportunities to go out as vaccination rates improved and restrictions on activities were eased has produced signs of an economic recovery. However, the outlook remains uncertain due to the rapid depreciation of the yen, soaring raw-material prices and geopolitical risks related to the situation in Ukraine.」
Reporting that human mobility and the economy are showing signs of recovery, while the impact of COVID-19 is prolonged and preparations for renewed spread and uncertainty about the outlook remain. - FY2022-Q3WorsenedAnnual report
「The spread of COVID-19 led to repeated reissuance of states of emergency and continued restrictions on economic activity, including requests to refrain from nonessential, nonurgent outings and shortened business hours. Although signs of recovery emerged as requests for self-restraint were gradually eased from October 2021 and the number of COVID-19 cases trended downward as vaccination rates increased, the outlook remained uncertain due to the risk of product shortages caused by surging global crude oil prices, price increases resulting from the weaker yen, and transportation problems from overseas, as well as the spread of the Omicron variant.」
Describing the spread of the Omicron variant in addition to resurgent infections and the uncertain outlook, indicating that the impact of COVID-19 will be prolonged and uncertain. - FY2022-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, Japan’s economy remained uncertain, with the reissuance of declarations of a state of emergency and other measures following an increase in infections caused by highly transmissible COVID-19 variants, despite expectations of a recovery as vaccinations became more widespread.」
Describing continued increases in infections caused by variant viruses, the reissuance of declarations of a state of emergency and other measures, and requests for businesses to suspend operations or reduce hours. While the economy had not recovered to pre-pandemic levels, the disclosure also notes expectations of a recovery as vaccinations spread. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period (1 April 2021 to 30 June 2021), Japan’s economy experienced delays in the recovery of corporate activity and personal consumption as declarations of a state of emergency were issued and priority preventive measures were applied in various regions in response to the resurgence of COVID-19 infections. Although opportunities for vaccination have expanded, concerns about the spread of infections caused by new variant viruses remain, and the outlook continues to be uncertain.」
The recovery of corporate activity and personal consumption continues to be delayed, and uncertainty about the outlook remains due to resurgent infections, declarations of a state of emergency and priority measures, and concerns about variant viruses. - FY2021MaterialisedAnnual report
「Sales in both the Wholesale Business Division and the Retail Business Division were affected by the spread of COVID-19 and amounted to ¥43.609 billion, down 12.0% year on year.」
The impact of COVID-19 emerged in full-year results, with lower sales in both divisions and company-wide sales down 12.0%. - FY2021-Q3WorsenedAnnual report
「However, intermittent resurgences in COVID-19 infections continued thereafter, making it impossible to foresee when the infections would subside, and an extremely challenging economic environment continues.」
For COVID-19, describing the resurgence of infections and the difficulty of forecasting when they will subside, continuing to indicate that the impact will be prolonged and uncertain. - FY2021-Q2WorsenedAnnual report
「Although there were signs of economic activity resuming from June onward, signs of a second wave of COVID-19 infections emerged from July, making it impossible to foresee when the infections would subside, and an extremely challenging economic environment continues.」
Describing signs of a second wave of COVID-19 infections and the difficulty of forecasting when they will subside, underscoring the prolonged impact and uncertainty. - FY2021-Q1MaterialisedAnnual report
「In the Wholesale Business Division, from February 2020, the spread of COVID-19 led to a pronounced decline in sales at business partners in the school-lunch, food-service, confectionery and boxed-meal industries, among others, due to voluntary restrictions on operations.」
The impact of business partners voluntarily restricting operations due to COVID-19 emerged in the first quarter as a decline in sales in the school-lunch, food-service, confectionery and boxed-meal industries, among others. Sales in the Wholesale Business Division fell 24.0% year on year, while company-wide sales fell 20.3%. - FY2020First statedAnnual report
「From March 2020 onward, requests for schools to suspend operations and the declaration of a state of emergency nationwide were issued. As changes in the market environment and lifestyles may cause orders from customers in the food-service and school-lunch industries to decline sharply, sales may also fall significantly. In addition, from March 2020, we were significantly affected by customers voluntarily refraining from operating due to the spread of COVID-19.」
For the first time, explicitly identifying COVID-19 as a standalone major risk and describing the risk of a sharp decline in orders from the food-service and school-lunch industries, as well as the actual impact of customers voluntarily refraining from operating.