Risk of temporary suspension of operations and declining demand due to COVID-19
First written in FY2020. 6 of 14 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024-Q2.
Hiramatsu 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 2025: 6 of 13 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「Although sales recovered during the second quarter of the current consolidated fiscal year, the company continued to post an operating loss due to the prolonged spread of COVID-19 and other factors, and remained in breach of its financial covenants.」
While sales continued to recover, the prolonged impact of the pandemic and other factors remained behind the operating loss and breaches of financial covenants. - FY2024-Q1Restrictions eased with the transition to Category 5 status, but the impact of the pandemic remained.Annual report
「Although sales recovered during the first quarter of the current consolidated fiscal year, the company continued to post an operating loss due to the prolonged spread of COVID-19 and other factors, and remained in breach of its financial covenants.」
While demand recovery progressed as the transition to Category 5 status and the easing of activity restrictions took place, the company stated that the prolonged impact of the pandemic remained a factor behind its operating loss and breaches of financial covenants. - FY2023Demand recovery progressed, while the impact on demand from large groups remained.Annual report
「Regarding the future impact of the spread of COVID-19, the economy is gradually recovering, including in anticipation of the transition to Category 5 infectious disease status, and the environment surrounding dining out is expected to return to roughly pre-pandemic levels, except for some demand for large-group parties, including weddings. Demand for large-group parties, including weddings, has not yet returned to pre-pandemic levels, and this trend is expected to continue to have some impact until around March 2024.」
Demand constraints caused by the pandemic eased overall, but the impact on demand for large-group parties was expected to remain until around March 2024. - FY2023-Q3Demand recovery continued, while reservations were canceled due to the pandemic and typhoons.Annual report
「Although some reservations were canceled due to COVID-19 and typhoons, the company strengthened proposals that leveraged the characteristics of each location against a backdrop of strong domestic travel demand. This resulted in high occupancy at each hotel, with sales substantially exceeding those of the same period of the previous year.」
While reservations were canceled due to COVID-19 and typhoons, strong domestic travel demand and enhanced proposals tailored to each location resulted in high occupancy at each hotel, with sales substantially exceeding those of the same period of the previous year. - FY2023-Q2Demand recovery progressed, but cancellations occurred due to the seventh wave.Annual report
「Although some reservations were canceled due to the impact of the seventh wave of COVID-19, demand for dining out and domestic travel recovered in earnest after priority preventive measures were lifted in March. As a result of implementing various initiatives based on market conditions, sales in all businesses increased substantially from the same period of the previous year.」
While some reservations were canceled and temporary closures occurred due to staff infections during the seventh wave, sales in all businesses increased substantially year on year as demand for dining out and domestic travel recovered after restrictions on activities were lifted. - FY2023-Q1Recovery in demand and renewed uncertainty due to the seventh waveAnnual report
「Following the lifting of priority preventive measures in March, demand for dining out and domestic travel, which had been constrained in preparation for the post-COVID and living-with-COVID environment, recovered in earnest, and sales in all businesses increased substantially from the same period of the previous year.」
While demand for dining out and domestic travel recovered in earnest after restrictions on activities were lifted, the economic environment section cited a renewed spread of COVID-19 due to the seventh wave as a factor contributing to increased uncertainty over the outlook. - FY2022RestatedAnnual report
「If infectious diseases, including COVID-19, which emerged in December 2019, occur and spread, or if their containment is prolonged, demand for our services may decline as people refrain from going out, potentially affecting the Group's business performance.」
The risk of people refraining from going out and weaker demand due to the emergence and spread of infectious diseases or prolonged containment remained a standalone item. - FY2022-Q3WorsenedAnnual report
「However, as vaccinations progressed, the spread of COVID-19 appeared to be coming under control. In December, domestic infections with the Omicron variant of COVID-19 were confirmed, and its high transmissibility led to its rapid spread nationwide. With priority preventive measures being declared in various regions, the impact on future business performance remains uncertain.」
Demand recovered after the state of emergency was lifted, but the domestic spread of the Omicron variant and the introduction of priority preventive measures were cited as factors behind a renewed expansion of the pandemic's impact and increased uncertainty over the outlook. The impact was also expected to persist until around June 2022 in the accounting estimates. - FY2022-Q1WorsenedAnnual report
「With the timing of the end of the pandemic uncertain, including due to the slow rollout of vaccinations, and with demand for dining out and bridal services still expected to take some time to recover, the company has requested that financial institutions defer repayment of principal. It is also in breach of the financial covenants attached to long-term borrowings, including syndicated loan agreements, and convertible bonds with stock acquisition rights. Accordingly, circumstances exist that raise substantial doubt about the going-concern assumption.」
The delayed rollout of vaccinations and prolonged recovery in demand were highlighted, while the request for a deferral of principal repayments, breaches of financial covenants, and substantial doubt about the going-concern assumption continued into the first quarter. - FY2021WorsenedAnnual report
「As it will still take some time for COVID-19 to be brought under control and for demand for dining out and bridal services to recover, concerns have arisen regarding the company's ability to fund payments of operating liabilities and repayments of borrowings. The company has requested repayment deferrals from financial institutions and is in breach of the financial covenants attached to long-term borrowings, including syndicated loan agreements, and convertible bonds with stock acquisition rights. Accordingly, circumstances exist that raise substantial doubt about the going-concern assumption.」
Operating constraints and weaker demand caused by the pandemic spread to a substantial full-year loss, cash-flow concerns, requests for repayment deferrals, and breaches of financial covenants, with material uncertainty explicitly identified. - FY2021-Q3WorsenedAnnual report
「COVID-19 infections began spreading again from December, leaving the outlook uncertain. It is expected to take some time for the pandemic to be fully brought under control, and an extremely challenging and uncertain business environment continues.」
The renewed spread of infections from December led to continued cancellations and requests to suspend operations, and the company indicated that the impact of the pandemic would persist to some extent until around summer 2021, when vaccinations were expected to be rolled out. - FY2021-Q2WorsenedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, we believe that the impact of COVID-19 on the Group will persist to some extent until around summer 2021, when vaccinations are expected to be rolled out.」
The company indicated that the impact would persist until around summer 2021, when vaccinations were expected to be rolled out, explicitly pointing to a prolonged impact. - FY2021-Q1WorsenedAnnual report
「Following the government's declaration of a state of emergency in April in response to the spread of COVID-19, the company, in response to various requests from the national and local governments to refrain from activities, generally closed all restaurants. As a result, it posted a substantial loss in the first-quarter consolidated cumulative period, as it had in the previous consolidated fiscal year.」
COVID-19-related operating closures continued from the full fiscal year into the first quarter, and the general closure of all restaurants resulted in continued substantial losses. - FY2020MaterialisedAnnual report
「In response to the declarations of a state of emergency in various regions, the company temporarily closed its restaurants and some hotels from April through May, placing the health and safety of customers and employees and its social responsibility to prevent the spread of infection first.」
Temporary closures occurred due to COVID-19, with the actual impacts described as wedding postponements associated with requests to refrain from going out and cancel events, cancellations of parties and corporate entertainment, and weaker demand for dining out.