Risk of delayed recovery in visitor numbers and facility closures due to COVID-19
First written in FY2020. 6 of 14 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024-Q3.
Izu Shaboten Resort 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: 25 of 30 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「During the nine-month period of the current consolidated fiscal year, Japan's economy showed signs of recovery as COVID-19 was reclassified as a Class 5 disease under the Infectious Diseases Control Law and restrictions on activities were eased.」
The disclosure continues to describe the recovery in economic activity and human mobility following COVID-19's reclassification as a Class 5 disease and the easing of activity restrictions, while references to business constraints centered on past closures and restrictions on human mobility remain limited. - FY2024-Q2RestatedAnnual report
「During the six months ended the second quarter of the current consolidated fiscal year, the Japanese economy showed signs of recovery as COVID-19 was reclassified as Category 5 under the Infectious Diseases Control Law and activity restrictions were eased.」
The company continues to report a recovery in the economy and consumption following the reclassification of COVID-19 as Category 5 and the easing of activity restrictions, while the previous description of business constraints centered on closures and movement restrictions continues to weaken. - FY2024-Q1SoftenedAnnual report
「The normalization of economic activity has progressed, and personal consumption has shown signs of recovery, following the change in the classification of COVID-19 under the Infectious Diseases Control Law in May 2023 and other factors.」
Against the backdrop of the change in the disease classification under the Infectious Diseases Control Law and the easing of activity restrictions, the company reports normalization of economic activity and a recovery in personal consumption, weakening the previous focus on business constraints such as closures and movement restrictions. - FY2023SoftenedAnnual report
「As the classification of COVID-19 under the Infectious Diseases Control Law has changed, the number of visitors has been approaching pre-pandemic levels.」
The description has shifted from a focus on closures, movement restrictions, and delayed recovery in visitors to the change in the disease classification under the Infectious Diseases Control Law and visitor numbers approaching pre-pandemic levels, weakening the description of business constraints caused by the infectious disease. - FY2023-Q3Recovery in visitor numbers following the lifting of movement restrictions alongside uncertainty due to variantsAnnual report
「In the leisure business operated by the company, visitor numbers have shown signs of recovery as the lifting of the state of emergency on 30 September eliminated the impact of restrictions on movement and other measures.」
While the company indicates a recovery in visitor numbers after the state of emergency was lifted, uncertainty across the economy due to new variants and other factors continues. - FY2023-Q1SoftenedAnnual report
「During the three months ended the first quarter of the current consolidated fiscal year, the Japanese economy showed signs of recovery as restrictions on activities were eased following a decline in the number of COVID-19 cases.」
Compared with the challenging conditions through the previous fiscal year caused by resurgences in infections, movement restrictions, and states of emergency, the company reports a recovery driven by a decline in cases and the easing of activity restrictions. It does not, however, indicate that the infectious disease risk itself has been eliminated. - FY2022WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy remained in a challenging situation, as states of emergency to prevent the spread of COVID-19 were declared intermittently and people were urged to refrain from going out.」
The description has changed from a recovery in visitor numbers after the state of emergency was lifted in the previous quarter to a statement that challenging conditions continued throughout the fiscal year due to intermittent declarations of a state of emergency and requests to refrain from going out. - FY2022-Q3Recovery in visitor numbers following the lifting of movement restrictions alongside uncertainty due to variantsAnnual report
「In the leisure business operated by the company, visitor numbers have shown signs of recovery as the lifting of the state of emergency on 30 September eliminated the impact of restrictions on movement and other measures.」
Compared with the challenging conditions caused by the movement restrictions previously in place, the company reports a trend toward recovery in visitor numbers after the state of emergency was lifted. However, uncertainty remains across the economy due to the emergence of new variants and other factors. - FY2022-Q2WorsenedAnnual report
「During the six months ended the second quarter of the current consolidated fiscal year, the Japanese economy remained in a challenging situation, as restrictions on the movement of people continued due to the reissuance of the state of emergency in response to the resurgence of COVID-19. The leisure business also remained in a challenging situation, as people continued to be urged to refrain from crossing prefectural borders due to measures to limit the movement of people.」
Restrictions on movement continued due to the resurgence of COVID-19 and the reissuance of the state of emergency, and the leisure business remained under pressure due to calls to refrain from crossing prefectural borders. - FY2022-Q1WorsenedAnnual report
「Restrictions on the movement of people continued due to the resurgence of COVID-19 and the reissuance of the state of emergency, while personal consumption continued to decline substantially.」
Restrictions on movement and a substantial decline in personal consumption have continued due to the resurgence of COVID-19 and the reissuance of the state of emergency. The external environment hindering the recovery in visitors to the facilities has continued and worsened. - FY2021-Q3WorsenedAnnual report
「In response to the state of emergency declared by the government in January 2021, the Group shortened the operating hours of facilities operated by its subsidiary Izu Shaboten Park Co., Ltd.」
Operational restrictions on the facilities due to COVID-19 continued and expanded from previous closures to shortened operating hours in January 2021. - FY2021-Q2WorsenedAnnual report
「In response to the state of emergency declared due to COVID-19, some of the Group’s facilities were temporarily closed. Fixed costs, primarily labor costs, incurred during the temporary closure period and other periods were recognized as an extraordinary loss under “losses from temporary closure.”」
Temporary closures of some facilities due to COVID-19 actually occurred, and losses from temporary closures of ¥42.984 million were recognized. Net sales also declined 48.7% year on year. - FY2021-Q1WorsenedAnnual report
「In response to the spread of COVID-19 and the nationwide expansion of the areas subject to the state of emergency declared under the Act on Special Measures for Pandemic Influenza and New Infectious Diseases Preparedness and Response, all facilities operated by the subsidiary Izu Shaboten Park Co., Ltd. were closed for approximately 1 month, from 20 April to 15 May.」
The risk of facility closures and delayed recovery in visitors due to COVID-19 identified in the previous fiscal year actually materialized as the closure of all facilities for approximately 1 month, resulting in a significant decline in revenue and a loss for the quarter. - FY2020MaterialisedAnnual report
「The novel coronavirus disease, reportedly first identified in Hubei Province, China, in December 2019, continued to spread worldwide without showing signs of abating. International travel had already declined sharply, and people in Japan were also urged to refrain from crossing prefectural borders. Although these requests to refrain from travel had ended, visitor numbers were taking time to recover, and if the recovery period were prolonged, the Group’s performance could be affected.” “Due to the state of emergency declared in response to the spread of COVID-19, the Group’s facilities were closed from 20 April to 15 May 2020.」
The company newly identifies the spread of COVID-19, calls to refrain from travel, and delayed recovery in visitors as risks. It also indicates the potential for a material impact on its financial position and operating results, as its facilities were actually closed from 20 April to 15 May 2020.