Business Risks Arising from the Spread of COVID-19
First written in FY2020-Q2. 12 of 17 entries say "Restated". Latest entry: FY2025-H1.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this interim report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous consolidated fiscal year.」
The filing states that there have been no new business or other risks and no significant changes to the risks described for the previous consolidated fiscal year. - FY2024-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company reports no new business or other risks and no significant changes to the risks described in the preceding fiscal year. - FY2024-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company reports no new business or other risks and no significant changes to the risks described in the preceding fiscal year. - FY2023Generalization from COVID-19 risk to new infectious disease risksAnnual report
「However, if an outbreak of a new infectious disease or similar event occurs in the future, it may affect the financial position, operating results and cash flows of our group.」
The description has shifted from focusing on COVID-19 to the risk of impacts from new infectious diseases in general. - FY2023-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company reports no new business or other risks and no significant changes to the risks described in the preceding fiscal year. - FY2023-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2023-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company reports no new business or other risks and no significant changes to the risks described in the preceding fiscal year. - FY2022RestatedAnnual report
「However, depending on when the COVID-19 pandemic subsides and other factors, it may affect the financial position, operating results and cash flows of our group.」
The filing continues to identify the potential impact of the timing of the end of the COVID-19 pandemic and other factors on the financial position, operating results and cash flows as a risk. - FY2022-Q3MaterialisedAnnual report
「However, new memberships were affected by the stagnation of social activity through late March due to the spread of the Omicron variant and priority preventive measures to prevent the spread of the disease. New memberships were particularly sluggish among seniors aged 65 and over, and membership at the end of the third quarter consolidated accounting period was below the initial forecast.」
The stagnation of social activity caused by the spread of the Omicron variant and priority preventive measures to prevent the spread of the disease actually emerged as weak new memberships, particularly among people aged 65 and over. - FY2022-Q2MaterialisedAnnual report
「During the second quarter consolidated accounting period (December 2021 to February 2022), some areas were placed under priority preventive measures to prevent the spread of the disease because of the Omicron variant, and although this had a slight impact on new memberships,」
The filing states that the Omicron variant and priority preventive measures to prevent the spread of the disease had an actual impact on new memberships. - FY2022-Q1RestatedAnnual report
「During the first quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2021RestatedAnnual report
「However, if infections spread again in Japan and Europe, membership could decline because of fewer new sign-ups and more cancellations resulting from the associated stagnation in economic and consumer activity, royalty and other income could decline because of store closures following another declaration of a state of emergency or lockdown, revenue could decline because of the postponement or cancellation of new store openings, and management support costs for franchise operators could increase.」
The filing continues to identify the impact of a resurgence of infections on membership, store operations, revenue and franchisee support costs as key risks. - FY2021-Q3RestatedAnnual report
「During the third quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2021-Q2RestatedAnnual report
「During the second quarter consolidated cumulative period, there were no new business or other risks that management recognized as potentially having a significant impact on the financial position, operating results or cash flows of the consolidated companies among the matters concerning the business and accounting situations described in this quarterly report, nor were there any significant changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The filing states that there have been no new occurrences or significant changes relating to COVID-19 risks. - FY2021-Q1RestatedAnnual report
「Amid the continuing COVID shock, our group considers that the market environment will change significantly from the following two perspectives.」
The business environment is presented as one in which the COVID shock continues, and the filing states that there have been no new risks or significant changes regarding business and other risks. - FY2020-Q3MaterialisedAnnual report
「During the third quarter consolidated accounting period (March to May 2020), we temporarily closed stores from 8 to 15 March 2020 and from April through the end of May, in response to various requests from the government and local authorities accompanying the global spread of COVID-19. Amid growing concern about secondary health damage, such as reduced immunity and worsening lifestyle-related diseases due to lower activity levels during the state of emergency, we worked to support customers and franchisees with a view to the post-COVID and with-COVID environment. As a result, the number of Curves stores in Japan at the end of the third quarter consolidated accounting period, excluding Men's Curves, increased by 28 from the end of the previous consolidated fiscal year, or 1.4%, to 2,019, including 65 group-operated stores. Membership declined by 72 thousand to 749 thousand, down 8.9% year on year. However, 203 thousand members were using the special membership-freeze program at the end of the third quarter consolidated accounting period, and their membership fees for the applicable period were fully refunded. Accordingly, the effective membership total was 545 thousand at period-end.」
The business impacts of COVID-19 anticipated in the previous filing, including store closures, a decline in membership and the emergence of members using the special membership-freeze program, have occurred in practice. - FY2020-Q2First statedAnnual report
「However, the domestic and European spread of COVID-19 and the resulting stagnation in economic and consumer activity are expected to reduce membership through fewer new sign-ups and more cancellations, reduce royalty and other income through store closures following the declaration of a state of emergency and the special membership-freeze program (a measure allowing people at high risk of becoming seriously ill from infection, such as those with underlying conditions and older people, to freeze their memberships without paying membership fees until the infection subsides), reduce revenue through the postponement or cancellation of new store openings, and increase support costs for franchisees.」
While the spread of the infection itself is described as having already occurred, its impact on membership, income, store openings and franchisee support costs is presented as an anticipated risk.