Impact of COVID-19 on Business and Financial Position
First written in FY2020. 4 of 6 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2022-Q2.
Mitsui Matsushima Holdings moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 86 of 113 companies on the "Worse" side.
0 other companies' latest entry also says "Materialised".
- FY2022-Q2MaterialisedAnnual report
「Following the issuance of declarations of a state of emergency and other measures in response to COVID-19, some of the group’s consolidated subsidiaries temporarily closed stores and facilities. Fixed costs incurred during the closure period, including employee costs, store rents and depreciation of factories, have been recorded as infection-related losses under extraordinary losses.」
Store and facility closures associated with COVID-19 continued, and ¥7 million in infection-related losses was recorded for the cumulative second quarter. - FY2022-Q1MaterialisedAnnual report
「Following the issuance of declarations of a state of emergency and other measures in response to the spread of COVID-19, some of the group’s consolidated subsidiaries temporarily closed stores and facilities. Fixed costs incurred during the closure period, including employee costs, store rents and depreciation of factories, have been recorded as infection-related losses under extraordinary losses.」
Temporary closures of stores and facilities due to COVID-19 continued, and ¥3 million in infection-related losses was recorded during the quarter. - FY2021MaterialisedAnnual report
「Following the declaration of a state of emergency in response to the spread of COVID-19, some of the group’s consolidated subsidiaries temporarily closed their stores. Fixed costs incurred during the closure period, including employee costs, store rents and depreciation of factories, have been recorded as infection-related losses under extraordinary losses.」
Store closures due to the infection occurred throughout the fiscal year, and ¥321 million in infection-related losses was recorded. - FY2021-Q2RestatedAnnual report
「Following the declaration of a state of emergency in response to COVID-19, some of the group’s consolidated subsidiaries temporarily closed their stores. Fixed costs incurred during the closure period, including employee costs, store rents and depreciation of factories, have been recorded as infection-related losses under extraordinary losses.」
The temporary store closures associated with the state of emergency and the recognition of ¥320 million in infection-related losses for fixed costs are reconfirmed as accounting treatment for the cumulative second quarter. - FY2021-Q1MaterialisedAnnual report
「Fixed costs incurred during the temporary closures, including employee costs, store rents and depreciation of factories, have been recorded as infection-related losses under extraordinary losses.」
Following the state of emergency declared in response to COVID-19, temporary store closures and other events actually occurred, and infection-related losses of ¥320 million were recorded under extraordinary losses. - FY2020First statedAnnual report
「In 2020, the global spread of COVID-19, which originated in China, continued to accelerate. In Japan, in addition to the sharp decline in consumption caused by calls to refrain from going out, the government’s declaration of a “state of emergency” on 7 April prompted the group to promote telework while closely monitoring developments. Depending on how the situation develops, it may affect the group’s operating results and financial position.」
COVID-19 is explicitly identified as a new major risk, and the company states that it has already affected operating activities and other areas of some businesses.