Demand, store operations, production and cash flow risks related to COVID-19
First written in FY2020. 5 of 11 entries say "Materialised", first in FY2021-Q2. Latest entry: FY2024.
The whole theme swung hardest in 2020: 102 of 175 companies on the "Worse" side.
- FY2024ReframedAnnual report
「The spread of COVID-19 led the government to issue states of emergency and implement priority preventive measures to contain the spread, as well as to an economic downturn. As a result, the Group's sales were significantly affected. If a similar infectious disease spreads in the future, sales may decline.」
Based on the past impact of COVID-19, the Group broadened the wording of the risk so that it also applies to future outbreaks of similar infectious diseases. - FY2024-Q2MitigatedAnnual report
「With the easing of activity restrictions under the new normal of living with COVID-19, conditions are emerging in which service-sector sales are expected to recover, supported by the resumption of various events and increased inbound demand.」
The Group explained that the impact of the pandemic on demand and store activity was easing compared with the previous fiscal year as activity restrictions were relaxed, events resumed and inbound demand increased. - FY2023MitigatedAnnual report
「Although the impact of COVID-19 continued throughout the consolidated fiscal year, the impact was limited compared with the previous consolidated fiscal year, partly because no regulations restricting activities were implemented.」
Although the impact of the pandemic remained, the absence of regulations involving restrictions on activities limited the impact compared with the previous fiscal year. The Group disclosed measures to prevent infection, address supply chain disruptions and reduce expenses in preparation for a future resurgence. - FY2023-Q3WorsenedAnnual report
「In the apparel industry, consumer demand was stagnant due in part to the impact of the eighth wave and rising prices.」
The eighth wave and rising prices caused consumer demand to stagnate, again indicating factors hindering the recovery in demand from the pandemic. However, net sales increased year on year. - FY2023-Q2MitigatedAnnual report
「Although a full recovery has not yet been achieved due to the impact of the seventh wave of COVID-19, people's movements are returning and store sales are trending upward, so revenue is on a recovery trend.」
Although the impact of the seventh wave remained, the Group explained that foot traffic, store sales and net sales were recovering, and that the adverse impact of the pandemic on results was easing compared with the previous fiscal year. - FY2022-Q2MaterialisedAnnual report
「However, personal consumption remained sluggish because the state of emergency was extended as COVID-19 variants spread. This was compounded by the cancellation of events at stores and shortened operating hours, and sales did not recover sufficiently to offset the overall decline.」
The spread of variants, the extension of the state of emergency, the cancellation of events and shortened operating hours continued to affect actual results through weak personal consumption and declining sales. - FY2022-Q1MaterialisedAnnual report
「However, the continued consumer reluctance to go out caused by the spread of COVID-19, the cancellation of events at stores and shortened operating hours meant that sales did not recover sufficiently to offset the decline.」
Consumer reluctance to go out, the cancellation of events and shortened operating hours associated with the spread of the pandemic continued to affect actual results during the current quarter and prevented the decline in sales from being offset. - FY2021MaterialisedAnnual report
「In the fiscal year ending March 2021, the second year of the plan, the impact of COVID-19 resulted in net sales of ¥10,333 million, down 32.7% year on year, operating loss of ¥1,293 million and net loss attributable to owners of the parent of ¥1,491 million.」
The impact of the pandemic was reflected in full-year results, resulting in a substantial decline in net sales and operating and net losses. - FY2021-Q3MaterialisedAnnual report
「For the 9 months ended in the third quarter of the current consolidated fiscal year, consolidated net sales were ¥8,022 million, down 32.0% year on year, operating loss was ¥936 million, compared with operating profit of ¥28 million in the same period of the previous year, ordinary loss was ¥866 million, compared with ordinary profit of ¥76 million, and net loss attributable to owners of the parent was ¥1,153 million, compared with net income of ¥37 million.」
The decline in demand and other factors associated with the spread of COVID-19 were reflected in actual results as a substantial decline in net sales and a shift to operating, ordinary and net losses. - FY2021-Q2MaterialisedAnnual report
「During the first 6 months of the current consolidated fiscal year, Japan's economy suffered a severe downturn as demand declined because of the spread of COVID-19. Although signs of recovery emerged as the state of emergency was lifted at the end of May and economic activity gradually resumed, the spread of infection has not yet subsided and uncertainty about the outlook continues.」
The decline in demand and severe economic impact caused by COVID-19 actually occurred, and the Group disclosed that uncertainty continued as the spread of infection had not subsided. - FY2020First statedAnnual report
「In response to the risk posed by the worldwide spread of COVID-19, the Group established a COVID-19 Pandemic Response Office in February 2020, headed by President Shirasaki Masao (白﨑 雅郎). Division heads and above participate weekly to discuss measures enabling rapid management decisions in preparation for unforeseen circumstances.」
The Group disclosed reduced demand resulting from store closures at major business partners, factory and logistics stoppages caused by employee infections, supply chain disruptions, and deteriorating earnings and cash flow resulting from a prolonged pandemic as new major risks. In the fiscal year ended March 2020, some impacts, including the postponement and cancellation of events, had already occurred.