Risk of Reduced Customer Traffic, Closures and Rent Reductions Due to COVID-19
First written in FY2020. 6 of 10 entries say "Materialised", first in FY2020. Latest entry: FY2024.
Aeon Hokkaido 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 2024: 2 of 7 companies on the "Worse" side.
1 other company's latest entry also says "Softened".
- FY2024SoftenedAnnual report
「If a new infectious disease replacing COVID-19 were to spread, our business performance could be affected by lower customer traffic and lower sales resulting from store closures and other factors.」
The risk disclosure has been reorganized from the specific impact of the previous COVID-19 outbreak to a general risk relating to future outbreaks of new infectious diseases. - FY2023MitigatedAnnual report
「Fiscal year (from 1 March 2022 to 28 February 2023) There are no applicable matters.」
No losses related to temporary closures and other measures due to the infection were recognized in the fiscal year, representing a reduction from the related costs incurred through the previous fiscal year. - FY2023-Q3MitigatedAnnual report
「Although the impact of COVID-19 is difficult to predict due to the emergence of new variants and other factors, we expect future waves of infection to occur. However, we assume that economic activity will not be restricted and will trend toward recovery due to the acceleration of vaccination and the development of therapeutic drugs.」
Although the impact of the infection was considered difficult to predict, the accounting assumption was that economic activity would not be restricted and would trend toward recovery due to vaccination and the development of therapeutic drugs. - FY2022-Q3MitigatedAnnual report
「Tenant rent reductions — million yen Fixed costs for stores and other facilities during the closure period 31 Other 1 Total 32」
Losses related to temporary closures and other measures amounted to ¥32 million, down from ¥616 million in the same period of the previous year. However, the impact of fixed costs during the closure period and other items remains. - FY2022-Q2MaterialisedAnnual report
「As part of efforts to prevent the spread of COVID-19, the following costs were incurred through temporary closures of stores and other facilities and shortened operating hours in response to requests from the government and local authorities to voluntarily suspend operations and declarations of a state of emergency. Their main components are as follows. …Total 32」
Temporary store closures and shortened operating hours continued as part of infection-control measures, and ¥32 million of losses related to temporary closures and other measures was recognized for the cumulative second quarter period. - FY2022-Q1MaterialisedAnnual report
「The declaration of a state of emergency was reissued by the government due to the impact of the spread of COVID-19, and operations have been voluntarily curtailed in response to requests from the authorities, resulting in an impact on the business. Although we expect our business performance to gradually improve after the declaration is lifted, we assume that COVID-19 will have subsided during the fiscal year ending February 2022 and that economic conditions will begin to improve in the fiscal year ending February 2023, and have made accounting estimates, including impairment accounting for fixed assets, on that basis.」
The reissuance of the declaration of a state of emergency and voluntary curtailment of operations continued, and the accounting estimates for impairment of fixed assets and other matters reflecting the impact of the infection were based on the assumptions that the infection would subside during the fiscal year ending February 2022 and that the economy would improve in the fiscal year ending February 2023. - FY2021-Q3MaterialisedAnnual report
「Tenant rent reductions 286 million yen Fixed costs for stores and other facilities during the closure period 241 Other 88 Total 616」
In connection with temporary store closures and shortened operating hours to prevent the spread of the infection, related losses totaling ¥616 million were recognized, including ¥286 million in tenant rent reductions and ¥241 million in fixed costs during the closure period. - FY2021-Q2MaterialisedAnnual report
「Tenant rent reductions 286 million yen Fixed costs for stores and other facilities during the closure period 241 Other 99 Total 627」
In connection with temporary store closures and shortened operating hours as part of infection-control measures, ¥627 million of losses related to temporary closures and other measures was recognized, including tenant rent reductions and fixed costs during the closure period. - FY2021-Q1MaterialisedAnnual report
「As part of efforts to prevent the spread of COVID-19, the following costs were incurred through temporary closures of stores and other facilities and shortened operating hours in response to requests from the government and local authorities to voluntarily suspend operations and declarations of a state of emergency. Their main components are as follows.」
Temporary store closures and shortened operating hours occurred as part of infection-control measures, resulting in ¥571 million of losses related to temporary closures and other measures, including ¥277 million in tenant rent reductions. - FY2020MaterialisedAnnual report
「Although we are implementing measures in response to the spread of COVID-19, if the impact of the infection expands beyond expectations, our business results and financial position may be affected by lower customer traffic, lower sales resulting from temporary store closures and measures such as rent reductions for specialty stores. …As the spread of COVID-19 continued, …specialty stores at 6 AEON MALL facilities were temporarily closed from 18 April.」
Lower customer traffic, temporary store closures and rent reductions for specialty stores due to the spread of the infection were identified as new risks, and by the filing date, specialty stores at 6 AEON MALL facilities had in fact been temporarily closed and tenant rent reductions and other measures had occurred.