Dependence on the Core Bathing Facilities Business
First written in FY2022. 2 of 4 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2019: 8 of 31 companies on the "Worse" side.
18 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The Group's sales are highly dependent on its core hot-spring bathing business. Accordingly, if the competitiveness of that business declines or other such events occur, the Group tends to be significantly affected, which could affect its business performance and financial condition.」
Even after moving to a three-business structure with the addition of the food business, the company continues to disclose the high dependence on the hot-spring bathing business and the potential impact of that dependence as risks. - FY2026-H1MitigatedAnnual report
「The existing business is excessively weighted toward the hot-spring bathing business. As part of the expansion of the corporate group going forward, the company acquired all shares of 青柳食品販売株式会社, which operates a food business, in July 2025 and made it a subsidiary. As a result, the Group now operates three businesses: hot-spring bathing, real estate and food.」
Recognizing its dependence on the hot-spring bathing business for sales as a challenge, the company moved to a three-business structure by adding a food business. The response to the dependence risk has taken concrete form in the business composition. - FY2023RestatedAnnual report
「The Group's sales are highly dependent on its core hot-spring bathing business. Accordingly, if the competitiveness of that business declines or other such events occur, the Group tends to be significantly affected, which could affect its business performance and financial condition.」
The company reconfirms its high dependence on the hot-spring bathing business for sales and the potential impact of a decline in the competitiveness of that business. - FY2022First statedAnnual report
「The Group's sales are highly dependent on its core hot-spring bathing business. Accordingly, if the competitiveness of that business declines or other such events occur, the Group tends to be significantly affected, which could affect its business performance and financial condition.」
The company identifies for the first time as a risk its high dependence on the hot-spring bathing business for sales and the resulting significant exposure to a decline in the competitiveness of that business.