Impact of COVID-19 on Store Closures, Declining Visitors to Japan, and Canceled or Postponed Tourism Events
First written in FY2020-Q2. 6 of 11 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2023-Q2.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023-Q2MitigatedAnnual report
「With the aim of containing COVID-19 while maintaining economic activity, various measures, including nationwide travel assistance and the easing of border controls, were implemented alongside the lifting of activity restrictions, resulting in signs of improvement across social and economic activity.」
Signs of improvement across social and economic activity were seen as activity restrictions were lifted, nationwide travel assistance was provided, and border controls were eased, and it was stated that the impact of activity restrictions due to COVID-19 was easing. Economic uncertainty, however, continued. - FY2023-Q1WorsenedAnnual report
「More recently, although the number of inbound visitors has increased significantly, the outlook for the economy remains uncertain amid concerns about a simultaneous wave of COVID-19 infections and the eighth wave of seasonal influenza.」
While social and economic activity improved and the number of visitors to Japan increased, new concerns were described over a simultaneous wave of eighth-wave COVID-19 infections and seasonal influenza. - FY2022-Q3MitigatedAnnual report
「The quasi-emergency measures were lifted in all prefectures as of 21 March 2022, and signs of a return to normal economic activity emerged as vaccinations became more widespread and restrictions on activities were eased.」
Regarding COVID-19, the quasi-emergency measures were lifted in all prefectures, and signs of economic normalization following the spread of vaccinations and the easing of activity restrictions were described. - FY2022-Q2WorsenedAnnual report
「From the beginning of 2022, the spread of infections caused by new variants led to the declaration of quasi-emergency measures in various parts of Japan, and restrictions on economic activity continued, creating a difficult environment.」
The resurgence of infections caused by new variants and the declaration of quasi-emergency measures in various parts of Japan led to renewed restrictions on economic activity. - FY2022-Q1WorsenedAnnual report
「However, concerns have arisen over the spread of a sixth wave of infections caused by new variants, and the outlook for the economy remains uncertain.」
While signs of recovery were indicated following the full lifting of the state of emergency and the spread of vaccinations, concerns over the expansion of a sixth wave caused by new variants and continued economic uncertainty were described. - FY2021RestatedAnnual report
「Meanwhile, following the spread of COVID-19, the tourism and event-related markets contracted sharply due to restrictions on the movement of people, affecting the Group's performance.」
The contraction of the tourism and event-related markets due to restrictions on movement and its impact on performance continued throughout the full year. - FY2021-Q3RestatedAnnual report
「During the nine months ended the third quarter, the company worked to win projects related to the government and local authorities, but some operations were scaled back due to a substantial decline in tourism-related projects, including tour-conductor staffing, as well as the impact of client store closures and shortened business hours following the declaration of a state of emergency.」
The decline in tourism-related projects and the impact of store closures and shortened business hours following the declaration of a state of emergency continued, and some operations were being scaled back. - FY2021-Q2WorsenedAnnual report
「Meanwhile, restrictions on in-store sales activities following the resurgence of COVID-19 affected the business, including through a reduction in the scale of sales support.」
Restrictions on in-store sales activities and the reduction in the scale of sales support associated with the resurgence of COVID-19 were described. - FY2020WorsenedAnnual report
「Following the spread of COVID-19, the tourism and event-related markets contracted sharply due to restrictions on the movement of people, affecting the Group's performance.」
Restrictions on movement due to COVID-19 led to a substantial contraction in the tourism and event markets, which actually affected full-year performance. - FY2020-Q3WorsenedAnnual report
「The impact on performance of fewer visitors to Japan and the cancellation or postponement of domestic tourism and events due to COVID-19 is expected to continue for a certain period. Although requests to refrain from going out under the state of emergency declared in May 2020 had been lifted, the timing of the containment of COVID-19 remained uncertain, and the possibility of further restrictions on operations due to client store closures and reduced operating hours was also anticipated. Depending on developments, this could affect the performance and financial condition of the Group.」
It was stated that the impact of COVID-19 was expected to continue for a certain period, while the timing of its containment remained uncertain and store closures and reduced operating hours could recur. - FY2020-Q2MaterialisedAnnual report
「From the third-quarter consolidated accounting period onward, the spread of COVID-19 is expected to affect performance through reduced operating hours at outsourced locations, store closures, a sharp decline in visitors to Japan, and the cancellation or postponement of domestic tourism and events, although the specific financial impact is currently under review.」
Reduced operating hours and store closures at outsourced locations, a sharp decline in visitors to Japan, and the cancellation or postponement of tourism and events due to COVID-19 were described as new business risks. Although some businesses were affected during the six months ended the second quarter, the overall impact was described as minor, and the financial impact has not yet been determined.