Impact of COVID-19 spread on store operations, logistics and business performance

「During the fiscal year, Japan's economy was gradually recovering as restrictions on activity related to the COVID-19 pandemic were lifted, but a downturn in overseas economies, including the impact of global monetary tightening and concerns about the outlook for China's economy, posed risks, leaving conditions uncertain.」

「During the first nine months of the current fiscal year, the Japanese economy was gradually recovering as restrictions on activities during the COVID-19 pandemic were lifted, while」

「During the first six months of the current fiscal year, the Japanese economy was gradually recovering as restrictions on activities during the COVID-19 pandemic were lifted, while」

「During the first quarter of the current fiscal year, the Japanese economy was gradually recovering as restrictions on activities during the COVID-19 pandemic were lifted, while」

「During the current fiscal year, the Japanese economy showed signs of a gradual recovery as restrictions on activities associated with COVID-19 were eased, while」

「During the first nine months of the fiscal year, Japan's economy continued to face an uncertain outlook. While economic and social activity moved toward normalisation as restrictions on activity were eased, energy and raw material prices rose owing to the prolonged situation in Ukraine, and the yen weakened and overseas economies slowed against a backdrop of global monetary tightening.」

「During the first six months of the current fiscal year, the Japanese economy was moving toward normalization of socioeconomic activity as restrictions on activities were eased, while the impact of COVID-19 continued.」

「During the first three months of the fiscal year, Japan's economy continued to face an uncertain outlook. While the severe conditions caused by COVID-19 eased with the progress of vaccinations and economic and social activity moved toward normalisation, energy and raw material prices rose owing to the rapid depreciation of the yen and the prolonged Russia-Ukraine war, raising concerns about higher prices.」

「During the current fiscal year, the Japanese economy showed signs of moving toward normalization while severe conditions caused by COVID-19 continued. However, the outlook remained uncertain because a resurgence of infections caused by new variants could not yet be expected to subside, along with concerns about higher prices resulting from soaring energy and raw-material prices.」

「During the first nine months of the current fiscal year, the severe conditions caused by COVID-19 were gradually easing as vaccination rates rose, but the outlook remained uncertain, including due to the emergence of new variants.」

「During the first six months of the current fiscal year, the spread of COVID-19 continued and vaccinations progressed to a certain extent, but the spread of infections could not be contained due to highly transmissible variants and other factors. Difficult conditions continued, including the ongoing implementation of states of emergency and priority preventive measures in several prefectures.」

「During the first quarter of the current fiscal year, the Japanese economy remained uncertain as the impact of the spread of COVID-19 continued unabated. Although expectations for vaccinations were rising, states of emergency and priority preventive measures were issued in some regions.」

「If adverse weather or natural disasters occur, or if the spread of COVID-19 continues, the Group's ability to supply products to stores may be disrupted by the temporary closure of Jason stores, increased refurbishment costs, the suspension of joint distribution centers and other factors. This could result in lost sales opportunities due to stockouts and lower revenue, materially affecting the Group's operating results and other aspects of its business.」

「During the first nine months of the current fiscal year, economic activity in Japan and overseas was restricted by the impact of the spread of COVID-19, causing the economy to deteriorate rapidly. However, signs of recovery emerged after the state of emergency was lifted in May, partly due to the effects of government initiatives such as the Go To Travel campaign. Nevertheless, the spread of a third wave of infections could not be contained from around autumn onward, and the outlook remained uncertain.」

「During the first six months of the current fiscal year, the Japanese economy deteriorated rapidly and remained in an extremely severe condition due to various restrictions on activities aimed at preventing the spread of COVID-19. Although the state of emergency was lifted nationwide on 25 May and socioeconomic activity was gradually being raised, concerns about a resurgence of infections remained and the outlook continued to be uncertain.」

「During the first quarter of the current fiscal year, the Japanese economy was facing concerns about a rapid deterioration due to various restrictions on activities aimed at preventing the spread of COVID-19. The state of emergency was lifted nationwide on 25 May, and economic activity began to resume, but the recovery remained sluggish and the outlook continued to be uncertain, including concerns about a second wave of infections.」

「If adverse weather, natural disasters, outbreaks of infectious diseases or similar events occur, the Group's ability to supply products to stores may be disrupted by the temporary closure or refurbishment of Jason stores, the suspension of operations at joint distribution centers and other factors. This could result in lost sales opportunities due to stockouts and lower revenue, thereby affecting the Group's operating results and other aspects of its business.」