Sluggish demand for bicycle parking facilities due to COVID-19 and the establishment of telework
First written in FY2020. 4 of 18 entries say "Mitigated", first in FY2023. Latest entry: FY2025-H1.
2 other companies' latest entry also says "Mitigated".
- FY2025-H1MitigatedAnnual report
「In the bicycle-parking facility industry, use of bicycle-parking facilities has remained solid even as telework has become established to some extent.」
Bicycle parking use was said to be holding firm even as telework became established to a certain extent, indicating an easing, based on actual performance, of the previously identified risk of weak demand due to behavioral changes. - FY2024Updated coexistence of utilization recovery and behavioral-change risksAnnual report
「In the bicycle parking industry, use of bicycle parking facilities is increasing as opportunities to go out have grown following the easing of various restrictions related to infectious diseases. However, risks arising from the external environment, including behavioral changes accompanying the diversification of work styles, remain a concern, necessitating a shift to a business model capable of responding flexibly to changes in the environment and fluctuations in demand.」
Bicycle parking use recovered as restrictions were eased and opportunities to go out increased, and fee revenue rose well above pre-pandemic levels. However, behavioral changes resulting from the diversification of work styles and the risk of demand fluctuations were said to remain. - FY2024-Q3Increased utilization coexisting with the risk of behavioral changesAnnual report
「In the bicycle parking industry, use of bicycle parking facilities is increasing as opportunities to go out have grown following the easing of various restrictions. However, risks arising from the external environment, including behavioral changes accompanying the diversification of work styles, remain a concern, necessitating a shift to a business model capable of responding flexibly to changes in the environment and fluctuations in demand.」
Although bicycle parking use has recovered as restrictions were eased and opportunities to go out increased, external-environment risks that could weigh on demand, including behavioral changes accompanying the diversification of work styles, remain. - FY2024-Q2MitigatedAnnual report
「The contribution from fee revisions also enabled bicycle parking fee revenue to remain well above pre-pandemic levels.」
Regarding the risk of weak bicycle parking demand due to infectious diseases and behavioral changes, fee revenue rose well above pre-pandemic levels as opportunities to go out increased and fees were revised. - FY2024-Q1MitigatedAnnual report
「The number of opportunities to go out increased as various restrictions were eased, leading to a trend toward greater bicycle use. Together with the contribution from fee revisions, this enabled bicycle parking fee revenue to remain above pre-pandemic levels.」
Despite the risk of weak bicycle parking demand due to infectious diseases and behavioral changes, bicycle parking fee revenue exceeded pre-pandemic levels as opportunities to go out increased and fees were revised. - FY2023MitigatedAnnual report
「Meanwhile, bicycle parking fee revenue exceeded the level in the fiscal year ended March 2020, when there were no activity restrictions due to infectious diseases, due to the recovery in railway and commercial facility use and the contribution from fee revisions.」
Regarding the risk of weak bicycle parking demand due to infectious diseases and telework, bicycle parking fee revenue exceeded the level in the fiscal year ended March 2020, before the pandemic. Meanwhile, equipment sales fell below the previous-year level and remained in the process of recovering demand. - FY2023-Q3Updated recovery in fee revenue and ongoing recovery in equipment salesAnnual report
「In the bicycle-parking facility industry, facility use has been improving as opportunities to go out increased with the easing of restrictions on activities and other factors. Although replacement demand for the Company's equipment is expected as bicycle-parking equipment ages, equipment sales are still in the process of recovery.」
Bicycle parking utilization improved as restrictions on activities were eased and opportunities to go out increased, but equipment sales were still described as being in the recovery phase, although replacement demand is expected. - FY2023-Q2Fee revenue recovery coexisting with equipment procurement constraintsAnnual report
「Equipment sales remained sluggish because demand, including demand for new bicycle parking facilities, was still recovering, and semiconductor shortages affected equipment procurement. Meanwhile, bicycle parking fee revenue increased as railway and commercial facility use improved compared with the same period of the previous year, when a state of emergency had been declared.」
Although fee revenue recovered year on year from weak bicycle parking demand caused by infectious diseases and telework, equipment sales remained sluggish because demand was still recovering and semiconductor shortages affected procurement. - FY2023-Q1Updated recovery in bicycle parking demand and equipment procurement constraintsAnnual report
「Equipment sales remained sluggish because demand, including demand for new bicycle parking facilities, was still recovering, and semiconductor shortages affected equipment procurement. Meanwhile, bicycle parking fee revenue increased as railway use by commuters and students improved steadily compared with the same period of the previous year, when a state of emergency had been declared.」
Although fee revenue recovered from weak bicycle parking demand caused by infectious diseases, equipment sales remained sluggish because demand was still recovering and semiconductor shortages affected procurement. - FY2022Updated recovery in bicycle parking demand and supply constraint riskAnnual report
「Although bicycle parking utilization is showing signs of recovery despite the impact of infectious diseases, demand for equipment sales is expected to recover gradually as urban redevelopment projects incorporating measures against infectious diseases progress in various regions. However, there are concerns about higher material costs for bicycle parking-related equipment due to shortages of materials, including semiconductors.」
While utilization was showing signs of recovery from weak bicycle parking demand caused by infectious diseases and telework, new downside factors emerged in the form of shortages of materials, including semiconductors, and higher material costs. - FY2022-Q3Updated year-on-year improvement in bicycle parking use and continued teleworkAnnual report
「In the bicycle-parking facility industry, facility use improved year on year following the lifting of the state of emergency and other restrictions, but the continued promotion of telework is expected, among other factors, and future developments continue to require close monitoring.」
Although bicycle parking utilization improved year on year, the company anticipates an impact on demand from the continued promotion of telework and remains alert to the risk of weak demand. - FY2022-Q2Updated slower recovery in bicycle parking use and year-on-year improvementAnnual report
「In the bicycle-parking facility industry, the pace of recovery in facility use remained slow due to the prolonged state of emergency, although use improved year on year. Facility use is expected to increase to some extent going forward, but future developments continue to require close monitoring.」
Although weak demand for bicycle parking due to infectious diseases has continued, utilization has improved year on year. An increase in utilization is expected going forward, although the slow pace of recovery remains a concern. - FY2022-Q1Recovery in utilization coexisting with the risk of renewed restrictionsAnnual report
「In the bicycle-parking facility industry, the pace of recovery in facility use remained slow due to the impact of the declaration of a state of emergency, although use improved year on year. However, as restrictions on going out and business operations could be reintroduced depending on the spread of the infection, future developments require close monitoring.」
Although a year-on-year recovery in bicycle parking use was confirmed, the pace of recovery was slow, and the company indicated that restrictions on going out and business operations due to a resurgence of infections could again depress fee revenue. - FY2021Updated full-year decline in bicycle parking fee revenueAnnual report
「As shown in the table below, revenue from hourly bicycle parking facilities declined approximately 15% year on year in the fourth-quarter consolidated accounting period, a smaller decline than the 20% year-on-year decline assumed as of 1 February 2021. For the full year, however, revenue declined approximately 25% year on year.」
Although the decline in hourly bicycle parking revenue narrowed to approximately 15% in the fourth quarter, it declined approximately 25% year on year for the full year. - FY2021-Q3Updated third-quarter results and fourth-quarter assumptionsAnnual report
「Results and assumptions as of 1 February 2021 Approximately 50% decline (Results) Approximately 22% decline (Results) Approximately 10% decline (Results) 20% decline」
Revenue from hourly bicycle parking facilities declined approximately 10% year on year in the third quarter, and a 20% decline is assumed for the fourth quarter. While the third-quarter results showed a smaller decline than the previously assumed 20%, the outlook for weak demand due to infectious diseases and the new normal remains. - FY2021-Q2WorsenedAnnual report
「Although bicycle parking utilization rates are showing signs of recovery, the company expects bicycle parking fee revenue to decline to some extent year on year as the "new normal," including telework and the use of delivery services, becomes established. Taking these factors into account, the company changed its assumed year-on-year decline in revenue from hourly bicycle parking facilities for the third and fourth quarters of the fiscal year ending March 2021 from 10% to 20%.」
Although bicycle parking utilization rates are showing signs of recovery, the assumed decline in hourly bicycle parking revenue for the third and fourth quarters was revised downward from 10% to 20% in light of the entrenchment of telework and other factors. - FY2021-Q1MaterialisedAnnual report
「However, bicycle parking fee revenue declined by approximately 50% year on year because railway use by commuters and students fell following requests to refrain from going out and other measures, while bicycle parking utilization rates deteriorated due to the closure of commercial facilities. The decline was nevertheless smaller than the approximately 60% decline initially anticipated.」
The decline in bicycle parking fee revenue was reflected in first-quarter results, down approximately 50% year on year. The impact was smaller than the approximately 60% decline initially anticipated. - FY2020First statedAnnual report
「Bicycle parking fees, which account for 38% of Parking Systems business revenue, are expected to decline 63% year on year in the first quarter, due to lower railway use by commuters and students following requests to refrain from going out and other measures, as well as low bicycle parking utilization rates resulting from the closure of commercial facilities.」
In addition to the sharp decline in fee revenue caused by COVID-19, the company identified as a new specific risk the possibility that the traditional bicycle parking revenue structure could change even after the pandemic subsides, due to the entrenchment of telework and other factors.