Impact of the Spread of COVID-19 on Operating Results and Business Activities
First written in FY2020-Q1. 9 of 18 entries say "Mitigated", first in FY2022-Q2. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024ReframedAnnual report
「If a large-scale infectious disease such as COVID-19 were to spread, potential effects could include lower store traffic and weaker consumer sentiment due to requests to refrain from going out, as well as restrictions on outdoor activities themselves.」
The disclosure has shifted from explaining the ongoing performance impact of COVID-19 specifically to presenting large-scale infectious diseases in general as a future risk. - FY2024-Q2MitigatedAnnual report
「During the cumulative second quarter period, the Japanese economy was on a recovery trend as socioeconomic activity normalized, employment and income conditions improved, and inbound demand increased. However, uncertainty persisted because of worsening geopolitical risks, higher raw material and energy prices, exchange-rate fluctuations and declining real wages caused by inflation.」
Social and economic activity continued to normalize, indicating that the previous impact of the infection on the business environment was easing. However, uncertainty related to geopolitical conditions, prices and foreign exchange remained. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter period (from 1 December 2023 to 29 February 2024), the impact of COVID-19 eased further, resulting in a recovery in human mobility in various regions and an increase in overseas travelers, with signs of recovery also emerging in personal consumption.」
As the impact of COVID-19 eased further, the disclosure noted a recovery in human mobility, an increase in overseas travelers and signs of recovery in personal consumption, indicating that the previous impact of the infection on the business environment was easing further. - FY2023MitigatedAnnual report
「During the fiscal year (from 1 December 2022 to 30 November 2023), the Japanese economy made further progress toward normalizing social and economic activity after the pandemic. However, the outlook for the economy remained uncertain due to continuing instability in the international situation, rising prices and other factors.」
Society and economic activity made further progress toward normalization after the pandemic, indicating that the previous impact of the infection on the business environment was easing. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter period (from 1 December 2022 to 31 August 2023), the Japanese economy made further progress toward normalizing social and economic activity after the pandemic. However, the outlook for the economy remained uncertain due to the continuing instability of the situation in Ukraine, rising prices and other factors.」
Society and economic activity made further progress toward normalization after the pandemic, indicating that the previous impact of COVID-19 on the business environment was easing. However, uncertainty due to the situation in Ukraine and rising prices remained. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter period (from 1 December 2022 to 31 May 2023), social and economic activity moved toward normalization following the COVID-19 pandemic, but the outlook for the economy remained uncertain because of the continuing instability surrounding Ukraine and rising prices.」
The disclosure stated that society and economic activity were progressing toward normalization after the pandemic, indicating that the previous impact of COVID-19 on the business environment was easing. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter period (from 1 December 2022 to 28 February 2023), progress was made in balancing COVID-19 containment with economic activity, but the outlook for the economy remained uncertain because of the continuing instability surrounding Ukraine and rising prices.」
The disclosure stated that progress had been made in balancing control of COVID-19 with economic activity, indicating that its previous impact on the business environment was easing. - FY2022MitigatedAnnual report
「During the fiscal year, the domestic spread of COVID-19 affected sales in some areas, but the impact was limited as restrictions on activities were gradually eased.」
Although COVID-19 continued to affect sales in some areas, the impact became limited as restrictions on activities were eased, representing an improvement from the severe effects seen through the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「Sales for the cumulative third quarter period recovered as customer traffic returned to commercial facilities, including department stores and shopping centers, as the impact of COVID-19, which had continued since 2020, eased. As a result, sales in the outdoor business remained strong, and consolidated net sales recovered, increasing 12.9% year on year.」
The easing impact of the infection and the recovery in customer traffic at commercial facilities led to a recovery in the outdoor business and consolidated net sales. At the same time, the report continued to note lower customer traffic due to waves of infection. - FY2022-Q2MitigatedAnnual report
「Sales for the cumulative second quarter period recovered as customer traffic returned to commercial facilities, including department stores and shopping centers, as the impact of COVID-19, which had continued since 2020, eased. As a result, sales in the outdoor business remained strong, and consolidated net sales recovered, increasing 12.3% year on year.」
As the impact of COVID-19 eased, customer traffic at commercial facilities recovered, outdoor business sales remained strong, and consolidated net sales increased 12.3% year on year. - FY2022-Q1RestatedAnnual report
「Since the fiscal year ending November 2020, the Company has faced a challenging business environment as repeated declarations of a state of emergency and priority preventive measures against the spread of disease led to closures and reduced operating hours at department stores and shopping centers, which are among its main sales channels, as well as declines in store traffic due to requests to refrain from going out. As a result, the Company recorded an operating loss, ordinary loss and net loss for 2 consecutive fiscal years.」
The Company continued to describe a challenging business environment caused by the infection, priority preventive measures and closures or reduced operating hours at major sales channels. At the same time, it recorded net income for the quarter, indicating signs of recovery despite these effects. - FY2021WorsenedAnnual report
「However, the impact of COVID-19 is expected to continue, given the rapid resurgence of infections, centered on the Omicron variant, from the beginning of 2022, known as the sixth wave, and the possibility of further variants emerging.」
With respect to the impact of the infection, the sixth wave caused by the Omicron variant and the possibility of further variants were identified as new concerns, and the outlook indicated that the impact would continue. - FY2021-Q3RestatedAnnual report
「The business environment was challenging, mainly because, from the second quarter of the previous year onward, declarations of a state of emergency were issued in response to the spread of COVID-19, department stores and shopping centers, the Company's major sales channels, were closed, and sales activities were subject to significant restrictions.」
The business impact of COVID-19 resulting from declarations of a state of emergency, closures of major sales channels and restrictions on sales activities has continued. - FY2021-Q2RestatedAnnual report
「In the outdoor business, internet sales and sales of fishing-related products remained solid, but apparel sales remained sluggish compared with ordinary years due to the impact of the declaration of a state of emergency and priority preventive measures to contain the spread of COVID-19, as well as weak travel demand from the beginning of the year onward.」
While restrictions on stores and movement arising from infection-control measures continued to weigh on apparel sales, the disclosure noted solid trends in fishing-related sales and mail-order sales. - FY2021-Q1MaterialisedAnnual report
「Among the outdoor-related industries relevant to our business, demand for fishing tackle increased as interest grew in fishing as an outdoor activity that allows people to avoid close-contact settings, and the fishing tackle market expanded. In the outdoor apparel market, demand for cold-weather clothing increased as temperatures fell, but, except in some business categories, consumption did not recover due to requests to refrain from going out and declining customer traffic at department stores, shopping centers and other facilities, particularly in urban areas.」
The effects of the resurgence in infections and the second declaration of a state of emergency have continued to materialize in lower customer traffic at apparel sales channels and the lack of recovery in consumer spending. At the same time, the disclosure also noted increased demand for fishing, an outdoor activity. - FY2020-Q3MaterialisedAnnual report
「Potential effects on the Company's performance include a decline in store traffic and sales due to requests to refrain from going out and store closures, as well as restrictions on outdoor activities themselves. The Company will closely monitor developments and take appropriate measures.」
The impact of the infection continues to pose an actual business risk through lower store traffic, lower sales resulting from store closures and restrictions on outdoor activities. Some recovery was seen in the third quarter, but the impact has not been eliminated. - FY2020-Q2MaterialisedAnnual report
「The domestic spread of COVID-19 since late January 2020 resulted in a sharp decline in customer traffic at department stores, shopping centers and other major sales channels. In addition, the declaration of a state of emergency issued on 7 April intensified the impact on economic activity, and the Company also experienced a substantial decline in sales.」
The impact of COVID-19 materialized in the form of a sharp decline in store traffic, closures of sales channels and a substantial decrease in sales. A loss of ¥39 million due to the temporary closure of directly operated stores and other factors was also recorded as an extraordinary loss. - FY2020-Q1First statedAnnual report
「Since December 2019, the spread of the novel coronavirus, which originated mainly in Wuhan, Hubei Province, People's Republic of China, may affect the Company's operating results and business activities. The Company will closely monitor developments and take appropriate measures.」
The spread of COVID-19 was explicitly identified for the first time as an additional business risk. While the disclosure indicated the potential impact on operating results and business activities, it also described actual effects during the quarter, including a sharp decline in store traffic, event cancellations and stagnation in spring and summer merchandise sales.