Impact of the spread of COVID-19 on business activities and results
First written in FY2020. 5 of 14 entries say "Restated". Latest entry: FY2025-H1.
Key Coffee Inc 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".
- FY2025-H1MitigatedAnnual report
「During the current interim consolidated period, Japan's economy continued to recover gradually, with signs of a recovery in personal consumption.」
The Company describes the recovery in personal consumption and the gradual recovery in the economy, noting that the impact of infectious diseases on the business environment has eased from previous levels. - FY2024MitigatedAnnual report
「During the current consolidated fiscal year, Japan's economy showed a gradual recovery as the normalization of economic activity advanced further following the reclassification of COVID-19 and other developments.」
The impact of the spread of infectious diseases on business activities and demand has eased compared with the previous fiscal year and earlier, due to the reclassification of the disease and the normalization of economic activity. - FY2024-Q1MitigatedAnnual report
「Although signs of a gradual recovery emerged due to the reclassification of COVID-19, improving employment conditions, and the spread of wage increases,」
The impact of infectious diseases on business activities and demand has eased from previous levels due to the reclassification of COVID-19, the lifting of restrictions on activities, and the recovery in human mobility. - FY2023-Q3RestatedAnnual report
「In the coffee-related business, sales increased as volumes sold for commercial and ingredient use rose, but operating profit was broadly unchanged from the previous year due to a higher cost ratio and other factors. In the food-service-related business, operating performance also exceeded the same period of the previous year, but recovery has been gradual and remains below pre-pandemic levels. Under these circumstances, the Company has assumed that demand in the coffee-related and food-service-related businesses will require until the end of the fiscal year ending March 2024 to recover to pre-pandemic levels.」
Although sales for commercial and ingredient use and the food-service business have begun to recover, the food-service-related business remains below pre-pandemic levels, and the Company continues to apply the accounting assumption that demand will recover by the end of the fiscal year ending March 2024. - FY2023-Q2RestatedAnnual report
「Under these circumstances, the Company has made accounting estimates, including impairment of fixed assets, based on the assumption that demand in the coffee-related and food-service-related businesses will require until the end of the fiscal year ending March 2024 to recover to pre-pandemic levels.」
The Company describes both the recovery resulting from the easing of restrictions on activities and the uncertainty caused by the seventh wave, and continues to apply the accounting assumption that demand in both businesses will require until the end of the fiscal year ending March 2024 to recover. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, various restrictions were eased as the number of COVID-19 infections declined, and signs of a gradual return to normal emerged. However, new infections in the seventh wave have been increasing recently, and Japan's economic activity remains uncertain.」
While the easing of restrictions has supported a move toward normalization, the renewed increase in infections during the seventh wave has heightened uncertainty surrounding the effects of infectious diseases. - FY2022RestatedAnnual report
「The effects of COVID-19 may continue for an extended period.」
The Company continues to disclose the possibility that the effects of infectious diseases may be prolonged and that declining demand in the commercial market and food-service industry may affect its operating results. - FY2022-Q3WorsenedAnnual report
「Although the economy showed signs of recovery from October 2021, supported by a decline in new infections resulting from vaccination promotion and other measures, Japan's economic activity remains uncertain, partly because measures to prevent the spread of infection were implemented in January 2022 as the sixth wave brought renewed growth in infections.」
After a temporary recovery driven by vaccinations and other measures, the renewed spread of the sixth wave and the implementation of priority preventive measures have continued to create uncertainty in the business environment due to infectious diseases. - FY2022-Q2RestatedAnnual report
「Based on this scenario, as stated in the notes to the consolidated financial statements for the previous consolidated fiscal year under “Significant Accounting Estimates,” the Company has made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, based on the assumption that demand in the coffee-related and food-service-related businesses will require until the end of the fiscal year ending March 2024 to recover to pre-pandemic levels.」
The Company continues to apply the accounting assumption that the effects of infectious diseases will persist and that demand will require until the end of the fiscal year ending March 2024 to recover. - FY2022-Q1RestatedAnnual report
「COVID-19 continues to spread, and the outlook remains uncertain. The Company has made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, based on the assumption that demand in the coffee-related and food-service-related businesses will require until the end of the fiscal year ending March 2024 to recover to pre-pandemic levels.」
The Company continues to apply its long-term assumption regarding the effects of infectious diseases and the recovery in demand. It states that there has been no change to the assumption disclosed in the annual securities report for the previous fiscal year. - FY2021WorsenedAnnual report
「In its business activities, the Company is working to secure an appropriate level of profit through business-structure reform based on a rational and efficient organizational structure, in response to declining demand in the commercial market resulting from requests to refrain from going out and reduced operating hours at food-service establishments. However, if the spread of infection continues or a state of emergency is declared again, or a similar situation persists, this could affect the Company's operating results and financial position.」
The Company explicitly identifies the prolonged or renewed spread of the effects of infectious diseases, including another declaration of a state of emergency, as a risk while demand in the commercial market remains depressed. - FY2021-Q3WorsenedAnnual report
「In the core coffee-related business, demand showed temporary signs of recovery after the state of emergency was lifted, supported by government economic measures and other factors. However, a state of emergency was declared again in 11 prefectures and metropolitan areas from 7 January 2021. The effects of requests to refrain from going out and to work from home, restrictions on visitor numbers at stores and facilities, and the disappearance of inbound demand are expected to continue for the foreseeable future, and the Company believes that recovery in operating results will take considerable time, as in the food-service-related business.」
The state of emergency was declared again in 11 prefectures and metropolitan areas after temporary signs of recovery, and the effects of requests to refrain from going out, work-from-home measures, visitor restrictions, and the disappearance of inbound demand are described as continuing. This indicates that the business and earnings risks associated with infectious diseases are likely to be prolonged. - FY2021-Q2MaterialisedAnnual report
「As uncertainty continues, and the effects of the spread of infectious diseases are expected to persist for the foreseeable future, the Company has made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, based on the assumption that demand in the coffee-related and food-service-related businesses will require until the end of the fiscal year ending March 2024 to recover to pre-pandemic levels.」
The effects of COVID-19 have actually impacted sales and earnings in both businesses, and the Company has made the accounting assumption that demand will require until the end of the fiscal year ending March 2024 to recover. - FY2020First statedAnnual report
「If the spread of infectious diseases for which no treatment or preventive measures have been established, such as COVID-19, leads to a state of emergency being declared and various requests to refrain from going out and from operating businesses, disrupting the business activities of the Group, this could adversely affect its operating results and financial position.」
The risk of business disruption caused by the spread of COVID-19, the declaration of a state of emergency, and requests to refrain from going out and operating businesses is being disclosed as a standalone item for the first time. In reality, sales have declined in the commercial market and food-service-related businesses.