Decline in concert bookings due to the temporary closure of major arenas in the Tokyo metropolitan area for renovations
First written in FY2017-Q1. 2 of 4 entries say "Mitigated", first in FY2017-Q2. Latest entry: FY2017.
No other company in this theme has enough history to compare yet.
- FY2017RestatedAnnual report
「Concert activity temporarily declined in the first quarter due to renovation work at major arena venues in the Tokyo metropolitan area, but from the second quarter onward the Company handled numerous large-scale concert tours, while the acquisition of new artists also contributed. Revenue from concert projects, including audio and video services, reached a record high.」
The full-year report also confirms the recovery following the temporary decline, driven by large-scale tours and the acquisition of new artists. - FY2017-Q3MitigatedAnnual report
「Concert activity temporarily declined in the first quarter due to renovation work at major arena venues in the Tokyo metropolitan area, but from the second quarter onward the Company handled numerous large-scale concert tours, while the acquisition of new artists also contributed. Revenue from concert projects, including audio and video services, reached a record high for the cumulative third quarter of the consolidated fiscal year.」
After the decline in projects caused by arena renovations in the first quarter, business recovered from the second quarter onward through large-scale tours and the acquisition of new artists, bringing cumulative revenue to a record high. - FY2017-Q2MitigatedAnnual report
「The concert market temporarily saw a decline in projects in the first quarter due to renovation work at major arena venues in the Tokyo metropolitan area, but was more active than expected in the second quarter. In addition, the acquisition of new artists led to the handling of numerous large-scale concert tours.」
The decline in projects caused by arena renovations in the first quarter was alleviated in the second quarter by stronger-than-expected activity and orders for large-scale tours. - FY2017-Q1MaterialisedAnnual report
「Orders for high-margin concert projects remained weak due to the temporary closure of major arena venues in the Tokyo metropolitan area for renovation work, resulting in a decline from the year-earlier quarter.」
The temporary closure of facilities is showing up this quarter as a decline in orders for highly profitable concert projects.