Store closures and weak demand caused by the spread of COVID-19, and doubt regarding the going concern assumption
First written in FY2021-Q1. 6 of 17 entries say "Restated". Latest entry: FY2025.
Horiifoodservice moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「The company will continue discussions on securing personnel, safety measures and funding, including restructuring its operating formats, in preparation for future emerging infectious diseases.」
The company's risk disclosure broadened from its recognition of risks centered on the existing operating impact of COVID-19 to continued preparedness based on the assumption that a new infectious disease could emerge. - FY2024MitigatedAnnual report
「The earnings forecast for the fiscal year ending March 2025 is undetermined due to the transition to consolidated financial reporting. However, the company expects to be profitable on a non-consolidated basis and determined that, as of the current date, no events or conditions exist that raise substantial doubt about the going concern assumption.」
The company's assessment changed regarding the substantial doubt about the going concern assumption disclosed through the previous fiscal year, with the company determining that no relevant events or conditions currently exist in light of its expectation of non-consolidated profitability. - FY2024-Q3MitigatedAnnual report
「After COVID-19 was reclassified to Category 5, restrictions on social and economic activity were lifted and sales gradually recovered. During the cumulative third quarter, the company shifted from recording operating losses to recording an operating profit, and a return to full-year operating profitability came into view.」
The lifting of restrictions on social and economic activity and the recovery in sales led to a shift from an operating loss to an operating profit. However, substantial doubt about the going concern assumption continued because the company had recorded operating losses for 3 consecutive fiscal years from the fiscal year ended March 2021 through the fiscal year ended March 2023. - FY2024-Q2RestatedAnnual report
「As of the second quarter of the current fiscal year, sales showed signs of recovery, but the company recorded an operating loss due mainly to soaring raw material prices and higher personnel and energy costs. In light of these circumstances, it determined that events or conditions raising substantial doubt about the going concern assumption continued to exist.」
Although a recovery trend in sales and a reduction in the operating loss were indicated, the company continued to record an operating loss, and the circumstances raising substantial doubt about the going concern assumption continued. - FY2024-Q1RestatedAnnual report
「During the first quarter, sales showed signs of recovery, but the company still recorded an operating loss. In light of these circumstances, it determined that events or conditions exist that raise substantial doubt about the going concern assumption.」
Although a recovery trend in sales was disclosed, the company recorded an operating loss again this quarter and continued to recognize substantial doubt about the going concern assumption. - FY2023SoftenedAnnual report
「Although municipalities and other authorities did not request store closures or shortened operating hours during the period due to the spread of COVID-19, repeated outbreaks caused by new variants resulted in sales below expectations and an operating loss.」
Because municipalities and other authorities did not request store closures or shortened operating hours during the period, operating restrictions were partly eased. However, sales remained below target and operating losses continued due to the impact of variants, while the company continued to recognize substantial doubt about the going concern assumption. - FY2023-Q3RestatedAnnual report
「The company also shortened operating hours and closed stores in response to government requests based on the declaration of a state of emergency and priority preventive measures, covering 1 metropolitan area and 9 prefectures in the Kanto and Tohoku regions. It was in an extremely difficult situation as demand for eating out itself had weakened. As a result, sales declined significantly and the company continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Shortened operating hours and store closures in response to government requests, weak demand for eating out, continued operating losses and substantial doubt about the going concern assumption continued to be disclosed. - FY2023-Q2RestatedAnnual report
「As a result, sales declined significantly and the company has continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Restrictions on operations and weak demand for eating out caused by the pandemic, continued operating losses and substantial doubt about the going concern assumption continued to be disclosed. Meanwhile, the company continued to determine that no material uncertainty existed based on its 12-month funding plan. - FY2023-Q1RestatedAnnual report
「The company also shortened operating hours and closed stores in response to government requests based on the declaration of a state of emergency and priority preventive measures, covering 1 metropolitan area and 9 prefectures in the Kanto and Tohoku regions. It was in an extremely difficult situation as demand for eating out itself had weakened. As a result, sales declined significantly and the company continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Shortened operating hours and store closures, weak demand for eating out, continued operating losses and substantial doubt about the going concern assumption continued to be disclosed. Meanwhile, the company determined that no material uncertainty existed based on its 12-month funding plan. - FY2022WorsenedAnnual report
「As a result, sales declined significantly and the company has continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Store closures and shortened operating hours due to the pandemic, as well as weak demand for eating out, continued throughout the year. The operating loss was ¥1,121,601 thousand and operating cash flow was negative ¥741,045 thousand, while substantial doubt about the going concern assumption remained. - FY2022-Q3WorsenedAnnual report
「As a result, sales declined significantly and the company has continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Shortened operating hours and store closures, as well as weak demand for eating out, continued, and substantial doubt about the going concern assumption remained. The operating loss for the cumulative third quarter was ¥775,079 thousand, up from ¥621,482 thousand in the same period of the previous year. - FY2022-Q2WorsenedAnnual report
「The company also shortened operating hours and closed stores in response to government requests based on the declaration of a state of emergency and priority preventive measures, covering 1 metropolitan area and 8 prefectures in the Kanto and Tohoku regions other than Yamagata Prefecture. It remains in an extremely difficult situation as demand for eating out itself has weakened. As a result, sales declined significantly and the company has continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Shortened operating hours and store closures continued in 1 metropolitan area and 8 prefectures due to the fifth wave and related declarations of a state of emergency. Sales declined significantly and operating losses continued. Substantial doubt about the going concern assumption continued to be disclosed. - FY2022-Q1RestatedAnnual report
「The company also shortened operating hours and closed stores, mainly in the Tokyo metropolitan area and 3 surrounding prefectures, in response to the declaration of a state of emergency, the priority preventive measures and requests from government authorities. It remains in an extremely difficult situation as demand for eating out itself has weakened. As a result, sales declined significantly and the company has continued to record operating losses. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Shortened operating hours and store closures, weak demand for eating out, continued operating losses and substantial doubt about the going concern assumption continued to be disclosed, and the company continued to recognize the pandemic risk. - FY2021WorsenedAnnual report
「As a result, sales declined significantly, and the company recorded a material operating loss and significant negative operating cash flow. Conditions exist that raise substantial doubt about the going concern assumption.」
The effects of store closures and shortened operating hours due to the pandemic continued throughout the year, resulting in a 55.0% decline in sales, an operating loss of ¥989,721 thousand, operating cash flow of negative ¥747,235 thousand and a net loss of ¥1,054,926 thousand. - FY2021-Q3WorsenedAnnual report
「As the spread of COVID-19 expanded nationwide, the company closed stores and shortened operating hours in response to the declaration of a state of emergency. It subsequently resumed operations at all stores, and sales gradually began to recover. However, as the third wave of the infection appeared to spread significantly toward winter, the company was forced to curtail operations again and suffered a substantial operating impact in December, its busiest month of the year. Under these circumstances, it recorded an operating loss of ¥621,482 thousand during the cumulative third quarter and recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
The third wave of the infection, renewed curtailment of operations and the impact on business during the peak season occurred, causing the operating loss to widen to ¥621,482 thousand. Substantial doubt about the going concern assumption continued to be disclosed. - FY2021-Q2MaterialisedAnnual report
「As the spread of COVID-19 expanded nationwide, the company closed stores and shortened operating hours in response to the declaration of a state of emergency. It subsequently resumed operations at all stores, and sales began to recover gradually. However, the company had not yet reached break-even and recorded an operating loss of ¥580,966 thousand during the cumulative second quarter. It recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
Sales gradually recovered after all stores resumed operations, but the company had not reached break-even. It recorded an operating loss of ¥580,966 thousand, and substantial doubt about the going concern assumption continued to be disclosed. - FY2021-Q1MaterialisedAnnual report
「As the spread of COVID-19 expanded nationwide, the company closed stores and shortened operating hours in response to the declaration of a state of emergency. It recorded an operating loss of ¥390,942 thousand during the cumulative first quarter and recognizes that events or conditions exist that raise substantial doubt about the going concern assumption.」
The spread of COVID-19, the declaration of a state of emergency, closure of all stores, shortened operating hours and a delayed recovery in customer traffic occurred in practice. The company recorded an operating loss of ¥390,942 thousand and disclosed substantial doubt about the going concern assumption. The company determined that no material uncertainty existed.