Cost Controls, Funding Measures and Business Resumption in Response to the Impact of COVID-19
First written in FY2020. 7 of 10 entries say "Restated". Latest entry: FY2024-Q3.
The whole theme swung hardest in 2024: 1 of 10 companies on the "Worse" side.
17 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「Although the Group breached financial covenants, it requested that its lending financial institutions continue the agreements without applying the clauses concerning loss of the benefit of time. As a result, it obtained written consent confirming that those clauses would not be applied, and its funding position is expected to remain stable for the time being.」
Based on written consent concerning the continuation of the agreements with financial institutions, the Group continued its crisis response to stabilize its funding position for the time being. - FY2024-Q1RestatedAnnual report
「Although the Group breached financial covenants, it was engaged in constructive discussions with its lending financial institutions and therefore expected the agreements to continue without applying matters concerning loss of the benefit of time. In addition, it raised funds through stock acquisition rights issued on 11 May 2022, and its funding position is expected to remain stable for the time being.」
The Group continued its crisis response aimed at securing funding for the time being, based on discussions with financial institutions, fundraising through stock acquisition rights and the expected continuation of the agreements. - FY2023-Q3RestatedAnnual report
「Under these circumstances, the Group has been progressively normalizing store operations, taking into account the safety of customers and store staff. It also worked to enhance corporate value for future growth by optimizing staffing levels and improving profitability.」
The Group continued its efforts to enhance corporate value by progressively normalizing store operations, optimizing staffing levels and improving profitability. - FY2023-Q2RestatedAnnual report
「Under these circumstances, the Group has been progressively normalizing store operations, taking into account the safety of customers and store staff. It also worked to enhance corporate value for future growth by optimizing staffing levels and improving profitability.」
The Group continued its efforts to enhance corporate value by normalizing store operations, optimizing staffing levels and improving profitability. - FY2022-Q3AdvancedAnnual report
「Under these circumstances, the Group has been progressively normalizing store operations after the state of emergency and priority preventive measures were lifted, taking into account the safety of customers and store staff. It also continued optimizing staffing levels, improving productivity and reducing head-office expenses, while focusing on developing business formats with a view to the post-COVID-19 period.」
After the state of emergency and other measures were lifted, the Group moved into a phase of progressively normalizing store operations and continued cost reductions and the development of business formats with a view to the post-COVID-19 period. - FY2022-Q2RestatedAnnual report
「However, based on a carefully prepared funding plan, the Group is discussing the matter with its financial institutions and believes that it can resolve these circumstances by implementing a plan to secure sufficient working capital even during the period affected by COVID-19.」
The Group reconfirmed its response policy of overcoming the impact of COVID-19 through a carefully prepared funding plan, discussions with financial institutions and securing working capital. - FY2021-Q3RestatedAnnual report
「However, based on a carefully prepared funding plan, the Group is discussing the matter with its financial institutions and believes that it can resolve these circumstances by implementing a plan to secure sufficient working capital even during the period affected by COVID-19.」
The Group reconfirmed its response policy of overcoming the impact of COVID-19 through a carefully prepared funding plan, discussions with financial institutions and securing working capital. - FY2021-Q2RestatedAnnual report
「As part of its business structural reforms, the Group worked to reduce head-office expenses by optimizing staffing levels and improving productivity.」
The Group continued optimizing staffing levels, improving productivity and reducing head-office expenses as part of its business structural reforms. - FY2021-Q1AdvancedAnnual report
「The Group continued the business structural reforms it had promoted since the previous fiscal year. However, as COVID-19 spread, it closed some stores and reduced operating hours after considering the safety of customers and store staff. From April, it closed all stores in response to requests from the national and local governments. In addition, during the first quarter of the current consolidated fiscal year, it raised funds through borrowings from financial institutions, including ¥1,700 million newly and ¥490 million in June 2020, to secure cash on hand in preparation for unforeseen circumstances arising from the spread of COVID-19.」
The Group closed all stores and reduced operating hours, while securing cash on hand through borrowings of ¥1,700 million and ¥490 million in June 2020. In addition, it resolved to sell the commercial building “Diamond Way.” - FY2020First statedAnnual report
「Although the timing of the end of the COVID-19 pandemic remains uncertain, we will prioritize overcoming the current situation by controlling costs and raising funds on the assumption that unstable operations will continue for the time being, and by preparing for unforeseen circumstances.」
The Group explicitly stated for the first time a crisis-response policy prioritizing cost control, fundraising and securing working capital based on its funding plan, on the assumption that unstable operations would continue.