Impact of the COVID-19 Pandemic on the Bathing-Facility Business and Rental Income
First written in FY2020. 8 of 15 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2024.
Thermae-Yu 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 2024: 2 of 10 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「As restrictions on activities related to COVID-19 were lifted, economic activity normalized, and a gradual economic recovery emerged, with demand for services and inbound demand increasing.」
The disclosure describes the lifting of activity restrictions, the normalization of economic activity following the reclassification of COVID-19 as a Class 5 disease, and rising demand for services and inbound demand, indicating that the impact of COVID-19 had eased. - FY2024-Q1MitigatedAnnual report
「Although COVID-19 was reclassified as a Class 5 disease, consumer activity became more vigorous and the normalization of economic activity progressed further,」
The disclosure describes the reclassification of COVID-19 as a Class 5 disease, more active consumer behavior and the normalization of economic activity, indicating that the impact of COVID-19 on the hot-bath business had eased compared with previous fiscal years. - FY2023MitigatedAnnual report
「Visitor traffic gradually recovered as restrictions on activities were lifted and the concept of "With COVID-19" became more widespread. As a result, visitors during the fiscal year increased 82.4% from the previous fiscal year to 326,700, nearly returning to pre-COVID levels.」
Visitors to the hot-bath business increased 82.4% year on year to 326,700, indicating that the impact of COVID-19 had eased substantially. - FY2023-Q3MitigatedAnnual report
「As the facility resumed its previous 24-hour operations in January this year, visitor numbers gradually recovered, and visitors during the nine-month consolidated period increased 104.6% from the same quarter of the previous year to 238,900.」
Following the resumption of 24-hour operations, cumulative visitors to the Thermae-Yu Shinjuku location increased 104.6% year on year to 238,900, indicating that the impact of COVID-19 had eased partially. - FY2023-Q2MitigatedAnnual report
「As the facility resumed its previous 24-hour operations in January this year, visitor numbers gradually recovered, and visitors during the six-month consolidated period increased 176.5% from the same quarter of the previous year to 151,200.」
Following the resumption of 24-hour operations, visitors to the hot-bath facilities recovered to 151,200, up 176.5% year on year. However, the disclosure does not state that the impact of COVID-19 had subsided. - FY2023-Q1MitigatedAnnual report
「As the facility resumed its previous 24-hour operations in January this year, visitor numbers gradually recovered, and visitors during the first quarter increased 269.8% from the same quarter of the previous year to 73,700.」
Although the impact of COVID-19 had not yet subsided, visitors increased 269.8% year on year to 73,700 following the resumption of 24-hour operations, indicating that the impact on the hot-bath business had eased from the previous fiscal year. - FY2022MitigatedAnnual report
「Because the periods of temporary closure and reduced operating hours were shorter than in the previous fiscal year, among other factors, visitors during the current fiscal year increased 54.9% to 179,100, compared with 115,600 in the previous fiscal year. Even so, this was approximately 40% below the pre-COVID annual level of 320,000 visitors.」
Although visitors recovered 54.9% year on year despite the impact of COVID-19, they remained approximately 40% below pre-COVID levels, indicating that the impact persisted. - FY2022-Q3MitigatedAnnual report
「However, traffic recovered from October through December after the state of emergency was lifted. As a result, visitors during the nine-month consolidated period increased 48.3% from the same quarter of the previous year to 116,700.」
While temporary closures, reduced operating hours and recognition of fixed costs for 43 days of closure continued because of the impact of COVID-19, visitors increased 48.3% year on year to 116,700 as traffic recovered from October through December, partially easing the impact compared with the same quarter of the previous fiscal year. - FY2022-Q2MaterialisedAnnual report
「However, because the period of temporary closure was shorter during the six-month consolidated period than in the same period of the previous year, revenue increased 45.9% year on year to ¥199.530 million, while the operating loss was ¥54.918 million, compared with an operating loss of ¥121.208 million in the same period of the previous year. In addition, fixed costs for the 43 days of closure to prevent the spread of COVID-19, totaling ¥32.909 million in personnel expenses, rent and depreciation, were recognized as an extraordinary loss under "losses related to the response to COVID-19."」
The impact of COVID-19 continued and materialized in 43 days of closure, an operating loss of ¥54.918 million in the hot-bath business, and recognition of ¥32.909 million in fixed costs as an extraordinary loss. - FY2022-Q1MaterialisedAnnual report
「Because the facility could not operate normally around the clock as temporary closures and reduced operating hours were repeated, among other factors, visitors from April through June totaled only 19,900. This was fewer visitors than in a single month before the impact of COVID-19 became apparent.」
The impact of COVID-19 on the hot-bath facilities continued, and visitors from April through June totaled only 19,900. - FY2021MaterialisedAnnual report
「Visitors during the consolidated fiscal year fell sharply by 63.9% from the previous consolidated fiscal year to 115,600 (320,600 in the previous consolidated fiscal year).」
The impact of the pandemic on the hot-bath facilities materialized over the full fiscal year, with visitors down 63.9% and the hot-bath business reporting an operating loss of ¥166.625 million. - FY2021-Q3MaterialisedAnnual report
「Visitors during the nine-month consolidated period fell sharply to 78,700, down 68.6% from the same quarter of the previous year, when the figure was 250,800.」
The impact of COVID-19 on the hot-bath facilities continued during the quarter, with visitors down 68.6% year on year to 78,700. - FY2021-Q2MaterialisedAnnual report
「Visitors during the six-month consolidated period fell sharply to 34,800, down 79.0% from the same quarter of the previous year, when the figure was 165,900. However, monthly visitors exceeded 10,000 in September, indicating a gradual recovery.」
The impact of COVID-19 on the hot-bath facilities continued during the quarter, with visitors down 79.0% year on year. On the other hand, monthly visitors exceeded 10,000 in September, indicating a partial recovery. - FY2021-Q1MaterialisedAnnual report
「However, following daily reports of the spread of infection in Shinjuku, visitor traffic did not return to previous levels, and visitors during the first quarter totaled just 8,400, a sharp 89.9% decrease from the same quarter of the previous year.」
The spread of COVID-19 caused visitor numbers at the hot-bath facilities to plunge 89.9% year on year to 8,400, making the existing impact increasingly evident in quarterly results. - FY2020MaterialisedAnnual report
「Annual visitors totaled 320,000, down 4.6% from the previous fiscal year, marking the first decline in annual visitors since the facility opened. The decline was caused by a decrease in visitors from the latter half of January as COVID-19 spread, followed by a 19.0% year-on-year decrease in February and an almost 50% decrease in March, down 49.1% from the same month of the previous year.」
The spread of COVID-19 actually reduced visitor numbers at the hot-bath facilities, leading to voluntary suspension of operations and reduced operating hours. In the real estate business, the company also newly indicated the possibility of delays in rent collection.