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Hub (3030) · FactNo losses from temporary store closures

Recognition of Fixed Costs Arising from the Temporary Closure of All Stores as an Extraordinary Loss

First written in FY2021-Q1. 1 of 10 entries say "Restated". Latest entry: FY2024-Q1.

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ProgressHeldSoftenedWorseOtherFY2021-Q1 – FY2024-Q12020: 220202021: 320212022: 320222023: 22023
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Fixed-cost losses from facility closures due to COVID-19A theme 41 companies write about · 41 as a headwind · 0 as a tailwind

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  1. FY2024-Q1No losses from temporary store closuresAnnual report

    「Cumulative first quarter (From 1 March 2023 To 31 May 2023 ) Not applicable.」

    Although ¥95,662 thousand in losses attributable to temporary store closures was recognized in the same period of the previous year, the filing states that there was no applicable item for the cumulative first quarter.
  2. FY2023Decrease in losses from temporary store closures and other factorsAnnual report

    「Extraordinary losses decreased by ¥2,192,514 thousand from the previous fiscal year, primarily because impairment losses and losses attributable to temporary store closures declined substantially.」

    Extraordinary losses, including losses attributable to temporary store closures, declined substantially from the previous fiscal year, reducing the fixed-cost burden resulting from operating restrictions.
  3. FY2023-Q1Update to losses from temporary store closuresAnnual report

    「Losses attributable to temporary store closures ※ 95,662」

    Through March 2022, the stores covered by the measure reduced their hours or temporarily closed, and ¥95,662 thousand in fixed costs and other expenses was recognized as losses attributable to the temporary closure. This was a decrease from ¥555,699 thousand in the same period of the previous year.
  4. FY2022RestatedAnnual report

    「Extraordinary losses decreased primarily because impairment losses and fixed costs incurred during temporary closure periods and other periods, including personnel expenses, land and rental expenses, and other costs, were recognized as losses attributable to the temporary closure.」

    The situation in which fixed costs incurred during temporary closure periods and other periods were recognized as losses attributable to the temporary closure continued during the fiscal year.
  5. FY2022-Q3Update to losses from temporary store closuresAnnual report

    「Losses attributable to temporary store closures 1,583,652」

    From March through October, the stores covered by the measure reduced their hours or temporarily closed, and ¥1,583,652 thousand in fixed costs and other expenses was recognized as losses attributable to the temporary closure. The cumulative amount increased from ¥1,238,868 thousand in FY2022-Q2.
  6. FY2022-Q2Update to losses from temporary store closuresAnnual report

    「Losses attributable to temporary store closures — 1,238,868」

    From March through August, the stores covered by the measure reduced their hours or temporarily closed, and ¥1,238,868 thousand in fixed costs and other expenses was recognized as losses attributable to the temporary closure.
  7. FY2021Expansion of the temporary closure periodAnnual report

    「Following the government's two declarations of a state of emergency, all stores were closed for more than 4 months in total, except for certain stores.」

    The temporary closure expanded from approximately 2 months through the previous quarter to the closure of all stores for more than 4 months in total in response to the government's two declarations of a state of emergency.
  8. FY2021-Q3Update to losses from temporary store closuresAnnual report

    「Losses attributable to temporary store closures — 830,932」

    Fixed costs and other expenses arising from the temporary closure of all stores from April through May were recognized as losses attributable to the temporary closure, totaling ¥830,932 thousand. The cumulative amount increased from ¥812,869 thousand in the previous cumulative quarter.
  9. FY2021-Q2Update to losses from temporary store closuresAnnual report

    「Losses attributable to temporary store closures — 812,869」

    Fixed costs and other expenses arising from the temporary closure of all stores from April through May were recognized as losses attributable to the temporary closure, totaling ¥812,869 thousand.
  10. FY2021-Q1First statedAnnual report

    「Accordingly, fixed costs incurred during the temporary closure period, including personnel expenses, land and rental expenses, and other costs, were recognized as extraordinary losses attributable to the temporary closure.」

    Due to the temporary closure of all stores from April through May, ¥697,885 thousand in fixed costs, including personnel expenses, land and rental expenses, and other costs, was recognized as losses attributable to the temporary closure.
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Recognition of Fixed Costs Arising from the Temporary Closure of All Stores as an Extraordinary Loss | HUB CO.,LTD. (3030) | Komori