Declining Store-Opening Appetite, Rising Lease Cancellations and Rent Collection Risk Due to COVID-19
First written in FY2020. 7 of 10 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2024: 2 of 10 companies on the "Worse" side.
3 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual report
「During the consolidated fiscal year, as economic and social activity returned to normal, prices for commercial real estate in central Tokyo also showed a tendency to rise,」
The separate disclosure of declining appetite for new store openings, increased cancellations, and rent collection due to COVID-19 disappeared from the key risks for FY2025. - FY2023RestatedAnnual report
「The spread of COVID-19 may lead to lower sales and an increase in rent on vacant premises if customers' appetite for new store openings declines or more sublease contracts are cancelled, among other factors.」
The risks of declining appetite for new store openings, increased cancellations, rent on vacant premises, and requests for rent reductions, delinquency, and uncollectible rent due to the infection continued. - FY2022RestatedAnnual report
「The spread of COVID-19 and the occurrence of a pandemic may lead to lower sales and an increase in rent on vacant premises if customers' appetite for new store openings declines or more sublease contracts are cancelled, among other factors. In addition, rent payments may become delinquent or uncollectible due to tenants' requests for rent reductions, bankruptcy, or other reasons.」
Infection-related risks involving declining appetite for new store openings, increased cancellations, rent on vacant premises, requests for rent reductions, delinquency, and uncollectible rent continued. - FY2022-Q2RestatedAnnual report
「In the food service industry, sales and customer traffic declined sharply due to repeated requests associated with the state of emergency and other measures to close businesses, shorten operating hours and reduce the hours for serving alcoholic beverages. Extremely difficult conditions continued, particularly for businesses serving alcoholic beverages, partly due to the impact of the fifth wave, which peaked in August.」
Infection-related operating restrictions, sharp declines in sales and customer numbers, and the impact on businesses serving alcohol continued. - FY2022-Q1RestatedAnnual report
「Repeated business closures, shortened operating hours, and requests to shorten the hours during which alcoholic beverages could be served in connection with declarations of a state of emergency and other measures caused sales and customer numbers to fall sharply. Conditions remained extremely difficult, particularly for businesses serving alcohol.」
Operating restrictions related to the infection and difficult conditions in the restaurant industry continued, reconfirming the impact of infection-related risks on the business environment. - FY2021RestatedAnnual report
「The spread of COVID-19 and the occurrence of a pandemic may lead to lower sales and an increase in rent on vacant premises if customers' appetite for new store openings declines or more sublease contracts are cancelled, among other factors. In addition, rent payments may become delinquent or uncollectible due to tenants' requests for rent reductions, bankruptcy, or other reasons.」
The risks of declining appetite for new store openings, increased cancellations, rising rent on vacant premises, and requests for rent reductions, delinquency, and uncollectible rent continued to be disclosed, together with the Company's response to events that had already occurred. - FY2021-Q3RestatedAnnual report
「In this environment, the Company's store subleasing business experienced a rapid decline in customers' appetite for new store openings, along with an increase in requests for rent reductions and cancellation notices, triggered by the declaration of a state of emergency. The Company therefore focused on responding to existing store operators and landlords to contain business risks.」
The Company continued to state that declining customer appetite for new store openings, requests for rent reductions, and an increase in cancellation notices had occurred, and that risks were being contained through responses to existing store operators and landlords. - FY2021-Q2RestatedAnnual report
「In this environment, the Company's store subleasing business experienced a rapid decline in customers' appetite for new store openings, along with an increase in requests for rent reductions and cancellation notices, triggered by the declaration of a state of emergency. The Company therefore focused on responding to existing store operators and landlords to contain business risks.」
The Company again acknowledged that declining customer appetite for new store openings, requests for rent reductions, and an increase in cancellation notices had actually occurred, and reconfirmed its response to these issues. - FY2021-Q1MaterialisedAnnual report
「Primarily during April and May, when the state of emergency was in effect, customers' appetite for new store openings fell rapidly, tenants broadly requested rent reductions, and cancellation applications increased. The entire company therefore focused on responding to existing store operators and negotiating rents with landlords, seeking to contain business risks.」
The filing stated that the previously identified risks of declining customer appetite for new store openings, requests for rent reductions, and increased cancellations had actually materialized, mainly during April and May. - FY2020First statedAnnual report
「The spread of COVID-19 and the occurrence of a pandemic may lead to lower sales and an increase in vacant stores if fewer customers seek to open new stores or more sublease contracts are cancelled, among other factors. In addition, tenants may request rent reductions, and rent payments may become delinquent or uncollectible.」
The risk of declining appetite for new store openings, increased cancellations, rising vacant stores, and requests for rent reductions, delinquency, and uncollectible rent due to COVID-19 was first disclosed as a standalone risk. Management's analysis stated that customers' declining appetite for new store openings and an increase in tenant cancellations began to emerge from the latter half of February, with some of the impact already occurring in practice.