Impact of COVID-19 on Hotel and Leisure Operations and Business Performance
First written in FY2020. 6 of 13 entries say "Materialised", first in FY2020. Latest entry: FY2024.
Mbk 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 2020: 25 of 30 companies on the "Worse" side.
2 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「Accordingly, the performance of that business covers the six-month period from 1 November 2023 to 30 April 2024. For the current period, revenue was ¥46 million and segment profit was ¥0 million.」
Through the transfer of Toki Grand Bowl, the transfer of KENTEN shares and the conversion of the hotel operating company's business, the company completely withdrew from the businesses exposed to the risk of the impact of COVID-19 on the hotel and leisure business. - FY2024-Q1MitigatedAnnual report
「Meanwhile, in the leisure market, restrictions on activities have been eased following the reclassification of COVID-19 as a Class 5 infectious disease, and increased opportunities to go out have also produced signs of recovery.」
The demand environment in the leisure market is showing signs of recovery as COVID-19 has been reclassified as a Class 5 infectious disease and restrictions on activities have been eased. - FY2023MitigatedAnnual report
「The business environment surrounding the group is moving toward normalization of economic activity as personal consumption recovers following the reclassification of COVID-19 as a Class 5 infectious disease under the Infectious Diseases Control Law.」
The company indicated that personal consumption and economic activity are gradually returning to normal against the backdrop of COVID-19 being reclassified as a Class 5 infectious disease. Segment profit in the Operations Business was ¥0 million. - FY2023The impact of COVID-19 continued, widening the deficit in the Operations Business.Annual report
「Other business locations reported lower revenue and profit due to the prolonged impact of the COVID-19 pandemic. Revenue was ¥620 million, down 3.1% year on year, and the segment loss was ¥64 million, compared with a segment loss of ¥61 million in the same period of the previous year.」
The impact of COVID-19 continued, and the Operations Business reported a 3.1% year-on-year decline in revenue and a ¥64 million segment loss. - FY2023-Q3MitigatedAnnual report
「In the third quarter, although the other locations were affected by the prolonged spread of COVID-19, performance across the locations began to recover as no restrictions such as priority preventive measures were imposed. As a result, revenue was ¥490 million, down 3.0% year on year, and the segment loss narrowed to ¥30 million from a segment loss of ¥45 million in the same period of the previous year.」
Although the impact of COVID-19 continued, overall business locations recovered in an environment without the issuance of various restrictions, and the segment loss narrowed from ¥45 million to ¥30 million. - FY2023-Q2MitigatedAnnual report
「In the second quarter, although the Group was affected by the prolonged spread of COVID-19, the easing of restrictions as booster vaccinations progressed enabled performance across its locations to begin recovering. As a result, revenue was ¥331 million, down 2.0% year on year, and the segment loss narrowed to ¥19 million from a segment loss of ¥30 million in the same period of the previous year.」
Although the impact of COVID-19 continued, the loss in the Operations Business narrowed from the same period of the previous year as restrictions on activities were eased and performance recovered. - FY2023-Q1MaterialisedAnnual report
「Although affected by the prolonged spread of COVID-19, performance across the business locations began to recover as restrictions on activities were eased with the progress of booster vaccinations against COVID-19. As a result, revenue amounted to ¥156 million, down 8.1% year on year, and the segment loss was ¥15 million, down 1.3% from the same period of the previous year.」
The impact of COVID-19 continued, and the Operations Business reported an 8.1% year-on-year decline in revenue and a ¥15 million segment loss. However, the loss narrowed slightly from the same period of the previous year. - FY2022-Q1The impact of COVID-19 continued, but the COVID-19-related loss decreased.Annual report
「As part of its efforts to prevent the spread of COVID-19, the group temporarily closed stores and other facilities and shortened operating hours in response to requests from the government and local authorities to suspend operations and to declarations of a state of emergency.」
The effects of store closures and shortened operating hours continued, resulting in a ¥234 thousand loss attributable to COVID-19. However, the loss decreased from ¥17.770 million in the same period of the previous year, and the deficit in the Operations Business also narrowed. - FY2021MaterialisedAnnual report
「As part of its efforts to prevent the spread of COVID-19, the group temporarily closed stores and other facilities and shortened operating hours in response to requests from the government and local authorities to suspend operations and to declarations of a state of emergency. Accordingly, costs arising at stores and other facilities from these measures, including depreciation, rent and personnel expenses, were recognized as extraordinary losses.」
Due to the impact of COVID-19, stores were temporarily closed and operating hours were shortened, and a ¥28.460 million loss attributable to COVID-19 was recognized as an extraordinary loss. The decline in revenue and the loss in the Operations Business also continued throughout the fiscal year. - FY2021-Q3MaterialisedAnnual report
「In response to requests from the government and local authorities to suspend operations and to declarations of a state of emergency, the group temporarily closed stores and other facilities and shortened operating hours.」
The impact of store closures and shortened operating hours due to COVID-19 continued, materializing as a ¥28.460 million loss attributable to COVID-19, an ¥85.980 million segment loss in the Operations Business, and a ¥197.609 million net loss attributable to owners of the parent for the quarter. - FY2021-Q2MaterialisedAnnual report
「In addition, due to the impact of the COVID-19 pandemic, the company recognized ¥23 million in subsidy income associated with temporary store closures and other measures as extraordinary income, and a ¥25 million loss arising from store closures due to COVID-19 as an extraordinary loss.」
The impact of COVID-19 was recognized during the quarter as ¥23 million in subsidy income associated with temporary store closures and other measures and a ¥25 million loss from store closures. - FY2021-Q1MaterialisedAnnual report
「Due to the impact of the COVID-19 pandemic, the company recognized a ¥5 million provision for doubtful accounts in selling, general and administrative expenses to cover the potential uncollectibility of trade receivables from major customers, and recognized a ¥17 million loss attributable to COVID-19, including temporary store closures, as an extraordinary loss.」
The impact of COVID-19 materialized during the quarter as a ¥5 million provision for doubtful accounts against potentially uncollectible trade receivables and a ¥17 million extraordinary loss associated with temporary store closures and other measures. - FY2020MaterialisedAnnual report
「Kakogawa Plaza Hotel, our core business, had stable earning power through February 2020. Thereafter, its operating conditions rapidly deteriorated due to the impact of requests to refrain from going out and other measures to prevent the spread of COVID-19, resulting in revenue of ¥1,077 million, down 6.3% year on year, and a segment loss of ¥6 million, compared with segment profit of ¥24 million in the same period of the previous year.」
The spread of COVID-19 and restrictions on going out materialized in FY2020 as lower revenue at the core hotel and a shift from segment profit to loss. The filing also describes potential future effects on employment, the economy and performance, as well as uncertainty in accounting estimates.