Performance boost from rush demand ahead of a consumption tax increase
First written in FY2020-Q2. 2 of 7 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2020: 2 of 20 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「The main factors behind the declines in revenue and profit were lower revenue due to the reactionary decline in stay-at-home demand in the TSUTAYA business, shorter operating hours in response to requests to reduce business hours, the reactionary impact of increased demand following the payment of special fixed benefits across all businesses, and a decline in customer numbers due to the spread of COVID-19, as well as higher expenses following the easing of restrictions on selling expenses, recruitment-related expenses and other areas.」
The factors supporting revenue from stay-at-home demand and the special fixed cash benefit in the previous fiscal year continued into the third quarter to cause a decline in revenue at TSUTAYA and across all businesses due to their reversal. - FY2022-Q2The reversal of stay-at-home and benefit-payment demand continues to weigh on revenue across all businessesAnnual report
「The main factors behind the declines in revenue and profit were lower revenue due to the reactionary decline in stay-at-home demand in the TSUTAYA business, shorter operating hours in response to requests to reduce business hours, the reactionary impact of increased demand following the payment of special fixed benefits across all businesses, and a decline in customer numbers due to the spread of COVID-19, as well as higher expenses following the easing of restrictions on selling expenses, recruitment-related expenses and other areas.」
The factors supporting revenue from stay-at-home demand and the special fixed cash benefit in the previous fiscal year continued into the second quarter to cause a decline in revenue at TSUTAYA and across all businesses due to their reversal. - FY2022-Q1The reversal of stay-at-home and benefit-payment demand became apparentAnnual report
「The main factors behind the declines in revenue and profit were lower revenue due to the reactionary decline in stay-at-home demand in the TSUTAYA business and the reactionary impact of increased demand following the payment of special fixed benefits, as well as higher expenses following the easing of restrictions on selling expenses, recruitment-related expenses and other areas.」
The factor supporting revenue growth shifted from stay-at-home demand and the special fixed cash benefit in the previous fiscal year to a decline in revenue due to their reversal in the current quarter. - FY2021Shift in the earnings-boosting factor from special demand ahead of the tax increase to stay-at-home demandAnnual report
「The main factor behind the increases in revenue and profit was higher revenue resulting from the TSUTAYA business supplementing the sluggish core Yellow Hat business, where demand declined as consumers became more cost-conscious amid the spread of COVID-19, with increased stay-at-home demand resulting from the pandemic.」
The company explains that, rather than the special demand from last-minute purchases ahead of the previous year's consumption tax increase, this fiscal year saw revenue growth in the TSUTAYA business driven by stay-at-home demand, which complemented overall company performance. - FY2021-Q2Shift from earnings boosted by special demand ahead of the tax increase to a factor behind the reactionary declineAnnual report
「For the cumulative second-quarter period, revenue was ¥9,054 million, a decrease of ¥850 million, or 8.6%, from the same period of the previous year. Ordinary profit was ¥14 million, a decrease of ¥191 million, or 92.8%, from the same period of the previous year. Quarterly net loss was ¥13 million, compared with quarterly net profit of ¥113 million in the same period of the previous year. The main factors behind the declines in revenue and profit were lower revenue due to the reactionary impact of special demand ahead of the consumption tax increase in the same quarter of the previous year and the impact of COVID-19, despite the reduction in expenses.」
The previous year’s special demand ahead of the consumption tax increase appeared this quarter not as a boost but as a factor behind a reactionary decline, resulting in an 8.6% decline in revenue, a 92.8% decline in ordinary profit and a quarterly net loss of ¥13 million. - FY2020-Q3RestatedAnnual report
「As a result, for the cumulative third-quarter period, revenue was ¥17,064 million, an increase of ¥450 million, or 2.7%, from the same period of the previous year. Ordinary profit was ¥925 million, an increase of ¥13 million, or 1.5%, from the same period of the previous year. Quarterly net profit was ¥607 million, an increase of 1.3% from the same period of the previous year. The main factor behind the increases in revenue and profit was special demand during the first half ahead of the consumption tax increase in the core Yellow Hat business.」
The company continued to explain that special demand ahead of the consumption tax increase in the first half was the main factor behind the 2.7% increase in cumulative-period revenue and the 1.5% increase in ordinary profit. Meanwhile, performance was sluggish in the third-quarter accounting period. - FY2020-Q2First statedAnnual report
「The main factor behind the increases in revenue and profit was special demand ahead of the consumption tax increase in the core Yellow Hat business.」
The company identified special demand ahead of the consumption tax increase for the first time as the main factor behind the increases in revenue and profit for the cumulative second-quarter period. Revenue increased 10.6% year on year, ordinary profit increased 1,647.3%, and revenue in the Yellow Hat business increased 15.1%.