Risk of reduced operating hours and restrictions on stores remaining open due to infectious disease outbreaks
First written in FY2017. 3 of 12 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2023-Q2.
Seven & i 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: 69 of 91 companies on the "Worse" side.
34 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「“Loss from COVID-19” for the cumulative second quarter consolidated period of the previous fiscal year was recognized as an extraordinary loss because it was a nonrecurring expense. For the cumulative second quarter consolidated period of the current fiscal year, however, it was considered to fall within the scope of expenses associated with ordinary business activities and was recognized as selling, general and administrative expenses.」
Pandemic-related expenses were recognized as ordinary selling, general and administrative expenses in the current quarter, rather than as extraordinary losses as in the previous year. - FY2023-Q1Change in classification of pandemic-related expensesAnnual report
「For the cumulative first quarter consolidated period, these expenses were considered to fall within the scope of expenses associated with ordinary business activities and were recognized as selling, general and administrative expenses.」
Rather than being recognized as extraordinary losses as in the previous year, costs related to COVID-19 were recognized as selling, general and administrative expenses in the current quarter. - FY2022Full-year decrease in losses from the pandemicAnnual report
「Loss from COVID-19 40,534 10,380」
Losses related to the pandemic decreased from ¥40,534 million in the previous fiscal year to ¥10,380 million, but the impact of fixed costs incurred during temporary closures and other items remains. - FY2022-Q3Continued year-on-year decrease in losses from the pandemicAnnual report
「Loss from COVID-19 36,888 9,923」
Losses from COVID-19 were ¥9,923 million, down from ¥36,888 million in the same period of the previous year. Meanwhile, the impact of shortened operating hours and other measures related to the pandemic continued to occur. - FY2022-Q2Continued year-on-year decrease in losses from the pandemicAnnual report
「Loss from COVID-19 35,306 8,516」
Losses from COVID-19 were ¥8,516 million, down from ¥35,306 million in the same period of the previous year. Meanwhile, the impact of shortened operating hours and restrictions on the number of customers entering stores continued. - FY2022-Q1Year-on-year decrease in losses from the pandemicAnnual report
「Loss from COVID-19 29,510 5,436」
Losses from COVID-19 were ¥5,436 million, down from ¥29,510 million in the same period of the previous year. Meanwhile, shortened operating hours and temporary closures continued to occur at specialty stores and other locations. - FY2021WorsenedAnnual report
「Loss from COVID-19 40,534」
The Company recognized ¥40,534 million in losses for fixed costs incurred during temporary closures due to the pandemic, costs related to measures to prevent the spread of infection, special appreciation payments to franchisees and other items, and the impact expanded over the full year. - FY2021-Q3RestatedAnnual report
「The impact of the spread of COVID-19 during the cumulative third quarter consolidated period is described in “2. Analysis of Financial Position, Operating Results and Cash Flows by Management, (1) Financial Position and Operating Results.” Depending on how the situation develops, however, it may affect the financial position and operating results of the Group.」
The business impact of the spread of COVID-19 and the possibility that future developments may affect the financial position and operating results continue to be disclosed. - FY2021-Q2WorsenedAnnual report
「Loss from COVID-19 35,306」
Losses of ¥35,306 million, including fixed costs incurred during temporary closures due to the pandemic, costs related to measures to prevent the spread of infection, and special appreciation payments to franchisees, were recognized for the cumulative second quarter. - FY2021-Q1WorsenedAnnual report
「During the first quarter, department stores, general merchandise stores and specialty stores in particular were forced to substantially suspend operations following the declaration of a state of emergency covering all prefectures. Losses due to COVID-19 ¥29,510 million」
The risk of reduced operating hours and restrictions on open stores during infectious disease outbreaks materialized more broadly and with a quantified impact, in the form of substantial operating suspensions due to COVID-19 and losses of ¥29,510 million. - FY2020MaterialisedAnnual report
「On 7 April 2020, a state of emergency was also declared in Japan, resulting in the closure of some stores and reduced operating hours within the Group. In addition, because the impact of the spread of COVID-19 remains highly uncertain, it may have a material effect on the Group's financial position and operating results in the following fiscal year.」
The risk of reduced operating hours and restrictions on open stores during infectious disease outbreaks was described together with actual store closures and reduced operating hours resulting from COVID-19. - FY2017First statedAnnual report
「As a Group whose core business is retail, an essential service, we have measures in place to maintain operations during infectious disease outbreaks in order to protect the lives and safety of customers and employees and fulfill our responsibilities to local communities and society, while preparing for outbreaks of infectious diseases such as novel influenza. However, depending on the spread and prevalence of an infectious disease, we may reduce operating hours or limit the number of stores that remain open.」
The risk of reduced operating hours and restrictions on open stores during infectious disease outbreaks was identified, despite measures to maintain operations during such outbreaks.