Impact of COVID-19 on Store Closures, Performance and Store Opening Plans
First written in FY2020. 8 of 18 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2026.
Yossix Holdings 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: 68 of 90 companies on the "Worse" side.
12 other companies' latest entry also says "Dropped".
- FY2026DroppedAnnual report
「Risk of deteriorating performance due to market contraction in the food-service industry, including growth in takeout and prepared meals, and intensifying competition」
The risks associated with the business and other matters for the fiscal year ending March 2026 do not separately identify store closures, reduced operating hours or impacts on store-opening plans due to COVID-19. - FY2024RestatedAnnual report
「Following COVID-19’s reclassification as a Category 5 infectious disease, personal consumption and inbound demand recovered and social and economic activity became more active.」
Following COVID-19’s reclassification as a Category 5 infectious disease, the recovery in personal consumption and inbound demand and increased social and economic activity were reported, and the eased conditions compared with the previous operating constraints continued. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter, Japan’s economy saw a recovery in personal consumption and inbound demand following COVID-19’s reclassification as a Category 5 infectious disease, and social and economic activity became more active.」
Following COVID-19’s reclassification as a Category 5 infectious disease, the recovery in personal consumption and inbound demand and increased social and economic activity continued, with the impact of previous closures and reduced operating hours remaining eased. - FY2024-Q2MitigatedAnnual report
「During the cumulative second quarter, Japan’s economy saw a recovery in personal consumption and inbound demand following COVID-19’s reclassification as a Category 5 infectious disease, and social and economic activity became more active.」
Following the reclassification as a Category 5 infectious disease, the Company reported a recovery in personal consumption and inbound demand and increased social and economic activity, indicating a further easing of the previous operating constraints caused by COVID-19. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter, Japan’s economy began to recover as COVID-19 was reclassified as a Category 5 infectious disease.」
The Company stated that economic activity began to recover following COVID-19’s reclassification as a Category 5 infectious disease, and that the impact of previous closures and reduced operating hours had partly eased. - FY2023MitigatedAnnual report
「Although economic activity is expected to normalize as COVID-19 is reclassified as a Category 5 disease, the difficult operating environment continues amid concerns over a recession caused by soaring global energy and food prices.」
The downgrade of COVID-19 under the infectious-disease classification system and expectations for normalization of economic activity were indicated, and the actual impact of previous closures and reduced operating hours had partly eased. However, the risk of an impact on business performance during an outbreak or spread of infection continued. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter, Japan’s economy was moving toward normalization of economic activity as restrictions on activities were eased, while」
The Company stated that economic activity was moving toward normalization as restrictions on activities were eased, and that the impact of COVID-19 on economic activity had partly eased from the previous quarter’s description. Meanwhile, infection-prevention measures continued. - FY2023-Q2WorsenedAnnual report
「In the food-service industry, the number of COVID-19 cases rose sharply from July, reducing demand for eating out. In addition, higher fuel prices and inflation increased operating expenses, including utility costs, resulting in continued difficult conditions on both the revenue and cost sides.」
While the first quarter described a trend toward easing of the impact of COVID-19, it stated that demand for eating out declined as infections rose sharply from July, indicating that the impact of the infection on the food-service environment had intensified again. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter, Japan’s economy was generally moving toward reduced effects of COVID-19 on economic activity. In addition to a decline in infections as vaccination became more widespread, economic activity was recovering in line with the government’s policy of “carefully transitioning to normal conditions while living alongside COVID-19.” However, the spread of BA.5 from July onward was said to have brought about the seventh wave, and the outlook remained uncertain.」
The impact of COVID-19 on economic activity was generally declining, and recovery progressed following the end of priority preventive measures and other restrictions. However, uncertainty about the outlook remained due to the seventh wave caused by the spread of BA.5. - FY2022MaterialisedAnnual report
「In response to requests from the government and local authorities to close stores and reduce operating hours as COVID-19 spread, we have closed stores and reduced their operating hours. As a result, customer traffic and net sales have fallen sharply compared with before the spread of the infection, affecting the Group’s financial position, business performance and store-opening plans.」
Store closures and reduced operating hours, a sharp decline in customer traffic and net sales, and the impact on store-opening plans continued to materialize throughout the fiscal year. - FY2022-Q3MaterialisedAnnual report
「During the cumulative third quarter, the effects of COVID-19 continued. Although the state of emergency declared in April 2021 was fully lifted on 30 September 2021, individual prefectures issued their own requests in October 2021 for reduced operating hours and other measures, and conditions in which economic activity was constrained continued.」
Even after the state of emergency was lifted, requests for reduced operating hours and other measures were issued, and the impact of COVID-19 on store operations and business performance continued to materialize. - FY2022-Q2MaterialisedAnnual report
「Stores in regions subject to government and local-authority requests to prohibit the serving of alcoholic beverages were forced to close.」
Store closures actually occurred in regions subject to requests to prohibit the serving of alcoholic beverages, and the impact of COVID-19 on store operations continued during the quarter. - FY2022-Q1MaterialisedAnnual report
「Stores in regions subject to government and local-authority requests to prohibit the serving of alcoholic beverages were forced to close to prevent the spread of COVID-19.」
Store closures actually occurred in regions subject to requests to prohibit the serving of alcoholic beverages, and the impact of COVID-19 on store operations continued during the quarter. - FY2021MaterialisedAnnual report
「In response to requests from the government and local authorities to close stores and reduce operating hours as COVID-19 spread, we have closed stores and reduced their operating hours. As a result, customer traffic and net sales have fallen sharply compared with before the spread of the infection, affecting the Group’s financial position, business performance and store-opening plans.」
Store closures and reduced operating hours continued throughout the fiscal year, with a sharp decline in customer traffic and net sales, a full-year loss and an impact on store-opening plans materializing in the results. - FY2021-Q3MaterialisedAnnual report
「In the food service industry, the operating environment remains extremely difficult due to shrinking food demand resulting from population decline and aging, the shift toward lower prices as customers increasingly prefer to save, expansion of the prepared-food market as convenience stores and supermarkets expand their product offerings, the effects of the consumption tax increase, and shorter operating hours due to the spread of COVID-19.」
The effects of reduced operating hours and other measures due to the spread of COVID-19 continued through the cumulative third quarter, with difficult operating conditions and deteriorating performance materializing. - FY2021-Q2MaterialisedAnnual report
「For the cumulative second quarter, net sales were ¥4,303 million, down 53.6% year on year, operating loss was ¥1,278 million, compared with operating income of ¥1,125 million in the same period of the previous year, ordinary loss was ¥692 million, compared with ordinary income of ¥1,298 million, and net loss for the quarter was ¥499 million, compared with net income for the quarter of ¥804 million.」
The effects of requests to refrain from operating businesses and reduced operating hours accompanying the spread of COVID-19 materialized in the cumulative second quarter as a 53.6% year-on-year decline in sales and a loss. - FY2021-Q1MaterialisedAnnual report
「Under these circumstances, in response to requests from the government and local authorities to refrain from operating businesses to prevent the spread of COVID-19, we closed all directly operated stores from 5 April 2020 to 7 May 2020. After the state of emergency was lifted, we gradually increased the number of reopened stores and were able to reopen all stores on 26 June.」
All directly operated stores were closed due to COVID-19, and actual effects on first-quarter performance and store operations continued after reopening. - FY2020First statedAnnual report
「In response to requests from the government and local authorities to refrain from operating businesses amid the spread of COVID-19, all directly operated stores were temporarily closed from 5 April 2020 to 7 May 2020. Even after the state of emergency was lifted, difficult conditions continued, with some stores forced to reduce their hours or close temporarily, affecting the Group’s financial position, business performance and store-opening plans. Further spread of the infection could also affect the Group’s financial position and business performance in the following fiscal year.」
Regarding COVID-19, the Company separately identified as a risk the actual occurrence of closures of all stores, reduced operating hours and temporary closures, together with their impact on the financial position, business performance and store-opening plans and their potential impact on the following fiscal year.