Impact of COVID-19 on Demand, Rental Income and Facility Operations
First written in FY2020. 5 of 13 entries say "Materialised", first in FY2020. Latest entry: FY2024-Q2.
Nitten moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
51 other companies' latest entry also says "Mitigated".
- FY2024-Q2MitigatedAnnual report
「For beet sugar, sales volume, which had declined due to the impact of COVID-19, recovered in commercial applications, including soft drinks, confectionery and restaurants. Together with higher selling prices, this resulted in net sales exceeding those of the same period of the previous year. For refined sugar, although sales volume for household use declined, sales volume for commercial use recovered and selling prices increased, resulting in net sales exceeding those of the same period of the previous year.」
Demand for sugar sold to foodservice operators, which had declined due to the pandemic, showed signs of recovery in sales volume for both beet sugar and refined sugar, indicating that the impact on demand had eased to some extent. Meanwhile, sales volume of refined sugar for household use declined. - FY2024-Q1MitigatedAnnual report
「Sugar business sales increased 10.2% year on year to ¥11,755 million because sales volumes of sugar, which had declined because of the impact of COVID-19, were showing signs of recovery and selling prices rose along with higher sugar market prices. However, the Company posted an operating loss of ¥71 million, compared with operating profit of ¥289 million in the same period of the previous year, largely because of the recognition of an inventory valuation loss.」
The company states that sugar sales volume, which had declined due to the impact of COVID-19, is showing signs of recovery, indicating that the pandemic's impact on demand has eased to some extent. However, the deterioration in profitability due to inventory valuation losses remains. - FY2023MitigatedAnnual report
「For beet sugar, sales volume, which had declined due to the impact of COVID-19, recovered in commercial applications, including soft drinks and confectionery. Together with higher selling prices, this resulted in net sales exceeding those of the previous fiscal year.」
Sales volume of beet sugar for commercial applications, which had declined due to the pandemic, recovered, and higher selling prices also contributed to net sales exceeding those of the previous fiscal year. - FY2023-Q3MitigatedAnnual report
「Net sales in the Sugar segment increased 15.7% year on year to ¥32,392 million, due to the recovery in demand from soft-drink manufacturers and other customers, as well as higher selling prices.」
Demand for sugar sold to foodservice operators, which had declined due to the pandemic, showed signs of recovery among soft-drink manufacturers and other customers. Higher selling prices also contributed to a 15.7% year-on-year increase in Sugar segment net sales. - FY2023-Q2MitigatedAnnual report
「For beet sugar, sales volume, which had declined due to the impact of COVID-19, was recovering in commercial applications, including soft drinks and restaurants. Together with higher selling prices, this resulted in net sales exceeding those of the same period of the previous year. For refined sugar, although sales volume for household use declined, sales volume for commercial use recovered, and net sales exceeded those of the same period of the previous year.」
Demand for sugar sold to foodservice operators, which had declined due to the pandemic, showed signs of recovery for both beet sugar and refined sugar, indicating that the pandemic's impact on demand had eased to some extent. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year (1 April 2022 to 30 June 2022), the Japanese economy remained in an uncertain situation due to continued restrictions on economic activity resulting from the prolonged impact of COVID-19, as well as a sharp rise in raw material prices and rapid yen depreciation attributable to the situation in Ukraine and other factors.」
While restrictions on economic activity due to COVID-19 continued, sales volume in the sugar business also showed signs of recovery. - FY2022RestatedAnnual report
「Beet sugar remains in a difficult situation, with sales volume still below the level of the year before last, before the COVID-19 pandemic. However, commercial sales, including to soft-drink manufacturers and bakeries, showed signs of recovery, and net sales and sales volume for white sugar and raw sugar exceeded those of the previous fiscal year.」
Although the pandemic continues to affect demand, commercial sales and the net sales and sales volume of white sugar and raw sugar are showing signs of recovery. - FY2022-Q2RestatedAnnual report
「For beet sugar, sales volume, which had fallen substantially in the previous fiscal year due to the impact of COVID-19, recovered in foodservice and other commercial applications, including soft drinks and restaurants, and net sales exceeded the same period of the previous year.」
While demand for sugar sold to foodservice operators, which had declined due to the pandemic, showed signs of recovery, the impact of the pandemic continues to be reflected in demand trends for the business. - FY2022-Q1MaterialisedAnnual report
「Although demand for industrial sugar, including sugar for confectionery, remained depressed because of the impact of COVID-19, some recovery was seen in demand for beverages and other products. Sugar segment sales increased 1.3% year on year to ¥8,719 million, and segment profit was ¥369 million, compared with a segment loss of ¥0 million in the same period of the previous year, partly because the Company continued to reduce expenses.」
While the impact of the pandemic continues to materialize in a decline in demand for sugar sold to foodservice operators, there has been some recovery in demand from beverage manufacturers and other customers. - FY2021-Q3MaterialisedAnnual report
「The sugar industry remains in a difficult situation. Sugar consumption has declined amid a consumer preference for less-sweet products, increasing use of inexpensive imported sweetened preparations and high-intensity artificial sweeteners, and a decline in consumption due to COVID-19. Net sales in the Sugar segment declined 8.7% year on year to ¥26,499 million, mainly due to lower sales resulting from declining sugar consumption. Despite efforts to reduce costs, the substantial impact of lower beet sugar sales resulted in a segment loss of ¥873 million, compared with a segment loss of ¥230 million in the same period of the previous year.」
The decline in consumption due to COVID-19 has materialized in lower sugar consumption, an 8.7% decline in Sugar segment net sales, and a loss of ¥873 million. - FY2021-Q2MaterialisedAnnual report
「For both beet sugar and refined sugar, sales to souvenir businesses and foodservice operators declined as people refrained from going out due to COVID-19, and both sales volume and net sales were substantially below the same period of the previous year. Net sales in the Sugar segment were ¥17,164 million, down 12.0% year on year, while segment profit was ¥384 million, down 47.9% year on year.」
The impact of people refraining from going out due to COVID-19 has materialized in the form of lower sales volume and net sales of sugar for souvenir businesses and foodservice operators, and a 47.9% decline in Sugar segment profit. - FY2021-Q1MaterialisedAnnual report
「Sugar segment sales decreased 15.2% year on year to ¥8,605 million because demand for industrial sugar for confectionery and beverages declined as people refrained from going out amid the spread of COVID-19, resulting in lower sales volumes. The segment posted a loss of ¥0 million, compared with segment profit of ¥372 million in the same period of the previous year.」
The impact of COVID-19 has actually emerged as lower commercial demand and sales volume for sugar and losses in the sugar segment. In addition to the impact on the existing food, Other and real estate businesses, the company has specified the impact on the sugar business. - FY2020MaterialisedAnnual report
「Although demand for bread for school lunches declined due to temporary school closures to prevent the spread of COVID-19, bread sales were strong and yeast revenue increased. Meanwhile, sales at sports and leisure facilities declined, partly because bowling alleys voluntarily suspended operations to prevent the spread of COVID-19. Book sales also declined due to the downturn in the publishing industry.」
The company states that the impact of the infectious disease actually emerged across multiple businesses, including lower demand for school lunch bread and the voluntary suspension of operations and lower sales at sports and leisure facilities. Declines in real estate rental income and sugar demand were also presented as future concerns.