Decline in Parking Lot Revenue and Profit Due to COVID-19
First written in FY2020-Q2. 6 of 15 entries say "Mitigated", first in FY2020-Q3. Latest entry: FY2023.
1 other company's latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「During the fiscal year from 1 October 2022 to 30 September 2023, social and economic activity in Japan resumed on the assumption of living with COVID-19, and economic activity became generally normal.」
The explanation of the impact of COVID-19 on the business environment has shifted to state that social and economic activity has become generally normal and that parking revenue and profit have recovered. - FY2023-Q2RestatedAnnual report
「There have been no material changes from the previous fiscal year in the assumptions underlying the accounting estimates related to COVID-19. The impact of COVID-19 remains highly uncertain, and depending on the future spread of infections and its impact on the economy, it could have a material impact on the company's results and other matters.」
Although the company states that there have been no material changes in the assumptions underlying the accounting estimates related to COVID-19, it continues to disclose the possibility of a material future impact from the spread of infections and its impact on the economy. - FY2023-Q1MitigatedAnnual report
「In the parking industry, revenue has improved nationwide as economic activity has normalized, and revenue for the cumulative first quarter increased 5.8% from the previous quarter, July–September 2022. There have been no material changes from the previous fiscal year in the assumptions underlying the accounting estimates related to COVID-19. The impact of COVID-19 remains highly uncertain, and depending on the future spread of infections and its impact on the economy, it could have a material impact on the company's results and other matters.」
As economic activity normalized, parking revenue increased 5.8% from the previous quarter, indicating that the impact of COVID-19 on results is improving. At the same time, there were no material changes in the assumptions underlying the accounting estimates, and uncertainty about the impact and the possibility of a material future impact continue. - FY2022SoftenedAnnual report
「The company also assumes that COVID-19 will subside and the business environment will return to its pre-pandemic condition over the next 1–2 years, and states that there have been no material changes from the previous fiscal year in the assumptions underlying its accounting estimates.」
The company states that it assumes a period of approximately 1–2 years for the outbreak to end and the business environment to return to its pre-pandemic condition. This is a shorter timeframe than the assumption of approximately 2–3 years in the fiscal 2021 quarterly filing. - FY2022-Q3MitigatedAnnual report
「In the parking industry in which we operate, revenue improved nationwide and remained strong from October to December 2021, but was affected by the spread of infections caused by the Omicron variant beginning in January 2022. In February 2022 in particular, the impact of record snowfall in Sapporo also weighed on revenue, which fell below the year-earlier level. From March through June 2022, revenue began to recover as the number of infections declined.」
Although revenue declined due to the Omicron variant and heavy snowfall in Sapporo, it began to recover from March through June as the number of infections fell. Monthly revenue as a percentage of the prior-year level was 104.6% in March, 110.4% in April, 117.6% in May and 114.0% in June. - FY2022-Q2Some monthly declines due to the Omicron variant alongside overall improvement in resultsAnnual report
「In the parking industry in which we operate, revenue improved nationwide and remained strong from October to December 2021, but was affected by the spread of infections caused by the Omicron variant beginning in January 2022. In February 2022 in particular, the impact of record snowfall in Sapporo also weighed on revenue, which fell below the year-earlier level.」
Although the impact of the spread of the Omicron variant again appeared in monthly revenue, revenue improved from October through December and in March, resulting in higher revenue and higher earnings on a cumulative basis. Uncertainty continues. - FY2022-Q1MitigatedAnnual report
「In the parking industry, to which the company belongs, revenue improved nationwide following the lifting of the state of emergency and other measures at the end of September 2021. Revenue for the cumulative first quarter increased 11.6% from the previous quarter, July–September 2021. In this environment, the company conducted sales activities while also considering profitability if infections resurged.」
Following the lifting of the state of emergency and other measures, parking revenue improved 11.6% from the previous quarter. At the same time, the company considered profitability if infections resurged and noted uncertainty about the outlook for social and economic activity due to the Omicron variant. - FY2021Assumed full-year impact and gradual recovery in the following fiscal yearAnnual report
「Based on trends in the number of COVID-19 cases, the company expects the impact of COVID-19 to continue throughout the fiscal year ending September 2022, while social and economic activity is expected to recover gradually. The company also expects the impact on business continuity and performance to be limited.」
The company assumes that the impact of the pandemic will continue throughout the following fiscal year, but expects a gradual recovery in social and economic activity and assumes that the impact on results will be limited. It continues to disclose uncertainty and the possibility of a material impact. - FY2021-Q3Explicit statement of the assumed period for the outbreak to endAnnual report
「The company assumes that COVID-19 will subside and the business environment will return to its pre-pandemic condition over the next 2–3 years, and states that there have been no material changes from the previous fiscal year in the assumptions underlying its accounting estimates.」
The company explicitly assumes that COVID-19 will subside and the business environment will return to its pre-pandemic condition over the next 2–3 years. It also states that the spread of infections and its impact on the economy could have a material impact. - FY2021-Q3Revenue recovery coexisting with an uncertain outlookAnnual report
「Although the second state of emergency was lifted in March, states of emergency have continued to be declared intermittently since then, and the outlook remains uncertain. Revenue, year-on-year 121.1% 115.8% 101.8% Revenue, versus the same month two years earlier 82.2% 80.3% 84.4%」
Revenue from April through June recovered to 121.1%, 115.8% and 101.8% of the prior-year levels, respectively, but was only 82.2%, 80.3% and 84.4% of the levels two years earlier. The company also continues to explain that the outlook is uncertain due to intermittent states of emergency. - FY2021-Q2WorsenedAnnual report
「However, the number of new infections began to increase around late November, and a second state of emergency was declared in January 2021. As a result, business sentiment deteriorated significantly, and revenue again declined, particularly at parking facilities near entertainment districts, commercial facilities and stations serving park-and-ride locations. Although the state of emergency was lifted in March, the timing of the end of the outbreak remains unforeseeable, and the outlook continues to be uncertain.」
Although revenue recovered to 91.9% of the prior-year level in October, it declined again from January onward due to the second state of emergency. Monthly revenue fell to 79.5% in January and 81.9% in February, and the company states that the timing of the end of the outbreak cannot be foreseen. - FY2021-Q1WorsenedAnnual report
「Revenue in October 2020 improved to 91.9% of the prior-year level. However, following the aforementioned resurgence of infections, revenue again began to decline, particularly at parking facilities near entertainment districts, commercial facilities and stations serving park-and-ride locations.」
Although revenue recovered to 91.9% of the prior-year level in October, it declined again after infections resurged. Monthly revenue fell to 86.6% in November and 82.7% in December. - FY2020MitigatedAnnual report
「Although revenue fell sharply under the state of emergency, the company's revenue for September 2020 had recovered to 87.2% of the prior-year level. Based on trends in COVID-19 infections and the status of development of vaccines and other treatments for the virus, the company assumes that a decline of approximately the same magnitude as in the fourth quarter will continue throughout the fiscal year ending September 2021, and expects the impact on business continuity and results to be limited.」
Although an actual decline in revenue occurred under the state of emergency, September monthly revenue recovered to 87.2% of the prior-year level. The company expects a decline of approximately the same magnitude as in the fourth quarter to continue in the following fiscal year and indicates that the impact will be limited, while also noting uncertainty and the possibility of a material impact. - FY2020-Q3MitigatedAnnual report
「The impact of the spread of COVID-19 was strongly affected by calls to refrain from going out accompanying the declaration of a state of emergency, and although revenue declined significantly, we have confirmed that revenue has gradually recovered since the declaration was lifted. Accordingly, we currently believe that this recovery trend will continue through the fiscal year ending September 2020, and judge that the impact on business continuity and results will be limited. However, the assumptions above contain many uncertainties, and changes in the spread of COVID-19 or its impact on the economic environment could have a material impact on future results and other matters.」
Although the risk of a significant decline in revenue due to calls to refrain from going out materialized, the company confirmed a recovery after the state of emergency was lifted and currently judges that the recovery will continue through the September year-end and that the impact will be limited. However, it continues to explicitly note uncertainties and the possibility of a material future impact. - FY2020-Q2MaterialisedAnnual report
「From early February 2020, the impact of COVID-19 gradually spread from Hokkaido, and revenue declined substantially, particularly at parking facilities near entertainment districts, commercial facilities and stations serving park-and-ride locations, as the business was significantly affected by the nationwide request to close schools and calls for people to refrain from going out.」
It states that the impact of COVID-19 expanded from early February 2020, and that parking revenue at certain locations actually declined significantly due to school closure requests and calls to refrain from going out. The decline in revenue, operating income, ordinary income and quarterly net income is also shown numerically for overall performance.