(Progress of disclosed items) Impact of Novel Coronavirus (COVID-19) on production
May 18, 2020
1. Regarding resumption of production at our group company, SANYO DENKI PHILIPPINES, INC.
On March 16,2020, the Philippinesgovernment announceda lockdown ofthe northern island of Luzon due to the spread of COVID-19in the country.
In response, since March 16 SANYO DENKI Group suspended production activitiesatSANYO DENKI PHILIPPINES, Inc. (hereinafter the"Philippinesfactories") located in Subic Bay FreeportZone in Luzon, but since then restrictions were partially lifted and production activities will resume on May 18.
It is expected to take about a week to return to the previous production capacity.
2. Impact on BusinessPerformance
As stated in the consolidated financial results (IFRS) announced on May 11, The Company has not yet determinedits consolidated earnings forecast for the fiscal year ending March 2021, due to the difficulty of making rational calculations at this time.
Production activities at the Philippine factories will resume today, but as we continue to examine the effectsof the temporary closure at our Philippinesfactories and the effects of the spread of the novel coronavirus on our overall business activities, ourconsolidated earnings forecast for the fiscal year ending March 2021 will be disclosed assoon asthe results of these effects are clarified.