Decline in Travel Demand Caused by Infectious Diseases, Natural Disasters, Terrorism, Economic Conditions and Foreign-Exchange Fluctuations
First written in FY2017. 11 of 39 entries say "Worsened", first in FY2021-Q1. Latest entry: 2026-09-29.
Tabikobo moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 11 of 16 companies on the "Worse" side.
4 other companies' latest entry also says "Materialised".
- 2026-09-29MaterialisedManagement Planning
「中東情勢の悪化、燃油価格の高騰、および円安基調の継続が旅行需要を圧迫する」
中東情勢、燃油価格、円安による旅行需要への影響を顕在化したリスクとして継続して記載している。 - FY2026WorsenedAnnual report
「Currently, in the overseas travel market, the group’s core business, the recovery in the number of travelers has remained gradual due to the continued depreciation of the yen, rising local prices, the deteriorating situation in the Middle East and soaring fuel prices.」
Although demand for overseas travel continues to recover, the weak yen, local prices, the deterioration of the situation in the Middle East at the end of February 2026 and soaring fuel prices have emerged as new factors suppressing demand. The company recorded an operating loss of ¥168.909 million due to the cancellation of European travel products and travel restraint. - FY2026-H1WorsenedAnnual report
「In the travel industry, demand for inbound travel to Japan remained firm, while the recovery in outbound travel by Japanese nationals remained gradual, against a backdrop of continued yen depreciation and higher airfares and local prices.」
The disclosure states that inbound demand remained firm, while the recovery in outbound demand remained gradual due to yen depreciation and higher airfares and local prices. - FY2025MitigatedAnnual report
「The number of Japanese nationals departing the country from July to December 2024 was 7.20 million*, up 20.0% year on year. Although this was still 31.6% below the same period in 2019 and remained below pre-COVID-19 levels, the market continued to recover gradually.」
Although travel demand affected by infectious diseases and travel restrictions is recovering, it remains below pre-pandemic levels. - FY2025-H1MitigatedAnnual report
「The number of Japanese nationals departing the country from July to December 2024 was 7.20 million*, up 20.0% year on year. Although this was still 31.6% below the same period in 2019 and remained below pre-COVID-19 levels, the market continued to recover gradually.」
The number of Japanese nationals departing the country recovered to 7.20 million, up 20.0% year on year, and the risk of declining travel demand due to infectious diseases and travel restrictions partially decreased. However, it remained 31.6% below the same period in 2019 and below pre-pandemic levels, and material events relating to the going-concern assumption remained. - FY2024MitigatedAnnual report
「In the travel industry, the number of Japanese nationals departing the country from April to June 2024 was 13.74 million, up 122.0% year on year. Although this was still below pre-COVID-19 levels, the market continued to recover gradually.」
The number of Japanese nationals departing the country recovered to 13.74 million, up 122.0% year on year. The risk of declining travel demand due to infectious diseases and travel restrictions decreased, but volumes remained below pre-pandemic levels. - FY2024-Q4MitigatedAnnual report
「In the travel industry, the number of Japanese nationals departing the country from April 2023 to March 2024 was 10.98 million, up 158.2% year on year. Although this was still 39.4% below the period from April 2019 to March 2020 and a full recovery had not yet been achieved, the market was on a gradual recovery trend.」
The number of Japanese nationals departing the country recovered to 10.98 million, up 158.2% year on year, and the risk of declining travel demand partially decreased. However, it remained 39.4% below the same period in 2019 and had not yet achieved a full recovery. The risk has been quantified, and demand declines caused by infectious diseases and other factors are treated as having actually occurred. - FY2024-Q3MitigatedAnnual report
「In the travel industry, the number of Japanese nationals departing the country from April to December 2023 was 7.94 million, up 208.2% year on year. Although this was still 47.6% below the same period in 2019 and did not represent a full recovery, the market was gradually recovering following the easing of entry restrictions and other measures by countries around the world.」
The number of Japanese nationals departing the country recovered to 7.94 million, up 208.2% year on year, following the easing of entry restrictions by countries around the world. However, it remained 47.6% below the same period in 2019 and had not yet achieved a full recovery. The risk of declining travel demand had partially decreased but remained. - FY2024-Q1Travel demand is recovering, but a full recovery has not yet been achievedAnnual report
「The number of Japanese nationals departing the country from April to June 2023 was 1.93 million, up 346.1% year on year. Although this was still 58.1% below the same period in 2019 and did not represent a full recovery, the market was gradually recovering following the easing of entry restrictions and other measures by countries around the world.」
While overseas travel demand recovered following the easing of entry restrictions by countries around the world, it remained 58.1% below the same period in 2019 and had not yet achieved a full recovery. The substantial decline in demand seen previously had partially improved, but material uncertainty about the Group's ability to continue as a going concern remained. - FY2023Travel restrictions have eased, but the decline in demand for overseas travel continuesAnnual report
「Recently, travel restrictions and entry regulations imposed by countries around the world in response to COVID-19 have been gradually eased, accelerating the recovery in travel demand. However, in the overseas travel market, which is the core business of our Group, the recovery in the number of travelers has been slow, and demand remains significantly below 2019 levels.」
While describing the phased easing of travel restrictions and entry regulations and the recovery of the domestic travel market, the disclosure states that demand in the core overseas travel market remains significantly below 2019 levels. It also identifies the situation in Russia and Ukraine, soaring energy prices and the depreciation of the yen as additional uncertainties. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, the sharp decline in travel demand continued, resulting in an operating loss of ¥736,767 thousand, an ordinary loss of ¥716,397 thousand and a net loss attributable to owners of the parent of ¥800,309 thousand. As a result, net assets at the end of the current third-quarter consolidated accounting period represented a capital deficiency of ¥878,998 thousand. These circumstances resulted in the existence of events or conditions that raise substantial doubt about the going concern assumption.」
The sharp decline in travel demand, losses and capital deficiency continued, and the company stated that events or conditions raising substantial doubt about the going concern assumption continued to exist. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, the sharp decline in travel demand continued, resulting in an operating loss of ¥551,015 thousand, an ordinary loss of ¥525,391 thousand and a net loss attributable to owners of the parent of ¥596,444 thousand. As a result, net assets at the end of the current second-quarter consolidated accounting period represented a capital deficiency of ¥1,269,028 thousand.」
The sharp decline in travel demand and losses continued, and a capital deficiency of ¥1,269,028 thousand and material uncertainty related to the going concern assumption continued to be recognized. - FY2023-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, continued restrictions on travel abroad and other factors resulted in an operating loss of ¥333,042 thousand, an ordinary loss of ¥306,909 thousand and a net loss attributable to owners of the parent of ¥312,661 thousand. As a result, net assets at the end of the current first-quarter consolidated accounting period represented a capital deficiency of ¥1,333,166 thousand.」
The decline in travel demand due to restrictions on overseas travel and other factors continued, resulting in operating, ordinary and net losses. The capital deficiency increased to ¥1,333,166 thousand, and the condition involving material uncertainty related to the going concern assumption continued. - FY2022WorsenedAnnual report
「During the current consolidated fiscal year, continued restrictions on travel abroad and the resurgence of COVID-19 resulted in an operating loss of ¥1,456,999 thousand, an ordinary loss of ¥1,338,417 thousand and a net loss attributable to owners of the parent of ¥1,971,051 thousand. As a result, net assets at the end of the current consolidated fiscal year represented a capital deficiency of ¥1,021,901 thousand, and the company was in breach of the financial covenants on its borrowings.」
The decline in travel demand due to infectious diseases and travel restrictions continued, and the company explicitly disclosed substantial losses, a capital deficiency of ¥1,021,901 thousand, breaches of financial covenants on borrowings and material uncertainty related to the going concern assumption. - FY2022-Q3WorsenedAnnual report
「Restrictions on movement and travel were imposed worldwide due to the effects of COVID-19, having a significant impact on the company's performance, which has historically been driven by sales of overseas travel products. As a result, the group has continued to record substantial operating losses and net losses attributable to owners of the parent since the previous consolidated fiscal year, giving rise to events or conditions that raise substantial doubt about the going concern assumption.」
The significant impact of infectious diseases and travel restrictions on sales of overseas travel products has continued. In addition to recording substantial losses, the company explicitly stated that events or conditions raising substantial doubt about the going concern assumption exist. - FY2022-Q1RestatedAnnual report
「Although COVID-19 vaccinations are progressing worldwide, many countries continue to impose restrictions on movement and travel, having a significant impact on the company's performance, which has historically been driven by sales of overseas travel products.」
Although vaccinations are progressing, restrictions on movement and travel continue, and the significant impact on sales of overseas travel products and operating performance persists. - FY2021WorsenedAnnual report
「Regarding the business environment surrounding the company, countries around the world have imposed restrictions on movement and travel due to the effects of COVID-19, having a significant impact on the company's performance, which has historically been driven by sales of overseas travel products.」
The previously identified risks related to infectious diseases and the external environment have continued and intensified in the form of the prolonged COVID-19 pandemic, restrictions on movement and travel, and a significant impact on sales of overseas travel products. - FY2021-Q3RestatedAnnual report
「In the travel industry, the sharp decline in travel demand has continued due to travel restrictions and entry restrictions imposed worldwide. From April to December 2020, the number of Japanese departures fell 98.7% year on year to 200,000, while inbound visitors to Japan fell 99.3% year on year to 170,000, representing substantial declines.」
The decline in travel demand due to infectious diseases, travel restrictions and entry restrictions has continued, with the substantial declines in Japanese departures and inbound visitors to Japan continuing to materialize in the results. - FY2021-Q2RestatedAnnual report
「In the travel industry, the sharp decline in travel demand has continued due to travel restrictions and entry restrictions imposed worldwide. From April to September 2020, the number of Japanese departures fell 98.9% year on year to 100,000, while inbound visitors to Japan fell 99.8% year on year to 30,000, representing substantial declines.」
The sharp decline in travel demand due to travel and entry restrictions associated with infectious diseases has continued. Although the risk section states that there were no material changes, it again records the substantial declines in Japanese departures and inbound visitors to Japan during the first half. - FY2021-Q1WorsenedAnnual report
「In the travel industry, travel demand has declined sharply due to travel restrictions and entry restrictions imposed worldwide. From April to June 2020, the number of Japanese departures fell 99.6% year on year to 20,000, while inbound visitors to Japan fell 99.9% year on year to 7,000, representing substantial declines.」
The decline in travel demand due to infectious diseases and travel restrictions was reflected in the figures as a 99.6% year-on-year decrease in Japanese departures and a 99.9% year-on-year decrease in inbound visitors to Japan. - FY2020MaterialisedAnnual report
「The results were significantly affected by travel restrictions and declining demand following the global spread of COVID-19 from January 2020, declining 5.8% year on year. Inbound visitors to Japan also fell sharply, down 12.2% year on year to 27.76 million.」
The previously disclosed risk of declining travel demand due to infectious diseases and the external environment actually materialized in the form of the global spread of COVID-19, travel restrictions, and declines in overseas travel demand and inbound demand. - FY2020-Q3MaterialisedAnnual report
「Inbound visitors to Japan increased 1.1% year on year to 23.82 million. Although the South Korean market declined due to Japan-South Korea relations, other markets remained firm, supported by increased airline seat capacity and the Rugby World Cup 2019 in Japan.」
The company stated that the previously disclosed risk of declining travel demand due to changes in the global situation actually materialized as a decline in inbound demand from South Korea against the backdrop of Japan-South Korea relations. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified regarding the risk of declining travel demand due to infectious diseases, natural disasters, terrorism, economic conditions and foreign exchange. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified regarding the risk of declining travel demand due to infectious diseases, natural disasters, terrorism, economic conditions and foreign exchange. - FY2019MitigatedAnnual report
「Inbound visitors to Japan increased 6.2% year on year to 31.62 million, showing solid growth as inbound demand steadily recovered from the decline caused by natural disasters from summer through autumn.」
Although a decline in inbound demand due to natural disasters occurred, the company stated that inbound visitors to Japan increased for the full fiscal year and that demand recovered steadily. - FY2019-Q3MitigatedAnnual report
「Inbound visitors to Japan increased 6.4% year on year to 23.57 million. Although inbound demand, particularly from East Asian markets, declined in September due to the effects of natural disasters, it showed a steady recovery trend.」
Although a decline in inbound demand from East Asia due to natural disasters actually occurred, the company stated that inbound demand showed a steady recovery trend on a cumulative basis for the quarter. - FY2019-Q2MaterialisedAnnual report
「In the travel industry, the number of Japanese departures from April to September 2018 increased 5.7% year on year to 9.38 million. Although growth slowed in September due to the closure of Kansai International Airport following Typhoon Jebi and the closure of New Chitose Airport following the Hokkaido Eastern Iburi Earthquake, the industry continued to show solid performance, with positive growth for 6 consecutive months. Inbound visitors to Japan increased 8.1% year on year to 15.84 million. Although inbound demand from East Asian markets declined due to a succession of natural disasters, demand from Southeast Asian, European, US and Australian markets continued to trend upward. (Source: Japan National Tourism Organization (JNTO))」
The effects of natural disasters on travel demand and transport infrastructure, previously disclosed as a risk, actually materialized in the form of the closure of Kansai International Airport due to Typhoon Jebi, the closure of New Chitose Airport due to the Hokkaido Eastern Iburi Earthquake, and a decline in inbound demand from East Asia. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified regarding the risk of declining travel demand due to infectious diseases, natural disasters, terrorism, economic conditions and foreign exchange. Health? - FY2018MaterialisedAnnual report
「Meanwhile, beach destinations such as Hawaii, Bali and Guam fell below the previous year as the number of travelers declined due to price competition with competitors, the situation involving North Korea and the eruption of a volcano on Bali.」
The situation involving North Korea and the eruption of a volcano on Bali occurred as external events, resulting in fewer travelers and beach destinations falling below the previous year. - FY2018-Q3MaterialisedAnnual report
「Beach destinations such as Hawaii, Bali and Guam performed poorly as the number of travelers declined due to price competition with competitors, the situation involving North Korea and the eruption of a volcano on Bali.」
External events, including the situation involving North Korea and the eruption of a volcano on Bali, actually occurred and led to a decline in travelers to beach destinations and weak performance. - FY2018-Q2MaterialisedAnnual report
「Beach destinations such as Hawaii, Bali and Guam performed poorly due to external factors, including intensifying price competition with competitors and an increase in cancellations of trips to Guam resulting from the situation involving North Korea.」
The changing global situation actually led to an increase in cancellations of trips to Guam, resulting in weak performance in the destinations concerned. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified regarding the risk of declining travel demand due to infectious diseases, natural disasters, terrorism, economic conditions and foreign exchange. - FY2017First statedAnnual report
「If consumers' willingness to travel declines due to the global outbreak and spread of infectious diseases, weather fluctuations, changes in the global situation such as terrorism and war, or economic deterioration; if tourism infrastructure is damaged by natural disasters or accidents; or if rapid foreign exchange movements cause disruption to the global economy, these and other factors may affect the group's business and operating results.」
The company identified the risk that the external environment could affect travel demand and operating results, citing terrorism, the Kumamoto Earthquake, foreign exchange movements and weakness across the travel industry in fiscal 2016. It also stated that Japan's travel consumption amounted to ¥25.5 trillion and international tourist arrivals worldwide totaled 1.18 billion.