Decline in Cemetery Visits and Funeral Attendance Due to COVID-19 and Impact on Business Performance
First written in FY2020. 6 of 13 entries say "Restated". Latest entry: FY2024-Q3.
Nichiryoku moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
4 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「In the funeral business, funerals have been simplified against the backdrop of a super-aging population, and competition on price among industry peers, centered on internet-based media, has tended to constrain the average funeral service price. However, bereaved families that had tended to refrain from holding wakes during the COVID-19 pandemic have begun to return to holding them.」
The Company describes a return of bereaved families to holding wakes, which they had tended to avoid during the COVID-19 pandemic, indicating that some of the impact from declines in visitors and funeral attendees has eased. - FY2023RestatedAnnual report
「Although the number of people infected with COVID-19 is trending downward globally, the pandemic has not completely subsided. If consumers’ tendency to refrain from going out resurges due to the emergence or spread of a new variant, the cemetery business may see a marked decline in visitors (including prospective visitors), while the funeral business may see a marked decline in funeral attendees, potentially affecting the Company’s results.」
Although the number of infected people is trending downward, the Company continues to disclose the risks of restrictions on going out due to variants or renewed outbreaks, declines in visitors and funeral attendees, and an impact on results. - FY2023-Q3RestatedAnnual report
「Since the 55th fiscal year, the Company has been affected by the spread of COVID-19, including the government’s declaration of a state of emergency, requests for people to refrain from going out, and the diversification of burial options. As a result, visitors (including prospective visitors) in the cemetery business fell sharply, funeral attendees in the funeral business fell sharply, and results deteriorated rapidly.」
The decline in visitors and funeral attendees due to the COVID-19 pandemic and the deterioration in results are reconfirmed as material events related to the going concern assumption. - FY2023-Q2RestatedAnnual report
「Since the 55th fiscal year, the Company has been affected by the spread of COVID-19, including the government’s declaration of a state of emergency, requests for people to refrain from going out, and the diversification of burial options. As a result, visitors (including prospective visitors) in the cemetery business fell sharply, funeral attendees in the funeral business fell sharply, and results deteriorated rapidly.」
The decline in visitors and funeral attendees due to the COVID-19 pandemic and the deterioration in results are reconfirmed as material events related to the going concern assumption. - FY2023-Q1RestatedAnnual report
「The spread of COVID-19, including the government’s declaration of a state of emergency, requests for people to refrain from going out, and the diversification of burial options, led to a sharp decline in visitors (including prospective visitors) in the cemetery business and a sharp decline in funeral attendees in the funeral business, resulting in a rapid deterioration in results.」
The decline in visitors and funeral attendees due to the COVID-19 pandemic and the deterioration in results are reconfirmed as material events related to the going concern assumption. - FY2022WorsenedAnnual report
「In response to the global spread of the Omicron variant of COVID-19, consumer values and patterns of behavior have changed in various ways.」
In addition to the previous spread of infection and requests to refrain from going out, the Company describes the global spread of the Omicron variant and the diversification of behavioral patterns, indicating that the impact is continuing. - FY2022-Q3RestatedAnnual report
「The sharp decline in visitors (including prospective visitors) in the cemetery business and the sharp decline in funeral attendees in the funeral business resulted in a rapid deterioration in results.」
The decline in visitors and funeral attendees due to the COVID-19 pandemic and the deterioration in results are reconfirmed in the explanation regarding the going concern assumption. - FY2022-Q2MaterialisedAnnual report
「The spread of COVID-19, including the government’s declaration of a state of emergency, requests for people to refrain from going out, and the diversification of burial options, led to a sharp decline in visitors (including prospective visitors) in the cemetery business and a sharp decline in funeral attendees in the funeral business, resulting in a rapid deterioration in results.」
The decline in visitors and funeral attendees due to the COVID-19 pandemic continued and is specifically described as a factor behind the deterioration in results and pressure on cash flow. - FY2021MaterialisedAnnual report
「However, during the fiscal year, an unprecedented sense of crisis caused by the COVID-19 pandemic spread among consumers, and the number of visitors (including prospective visitors) fell sharply, despite showing signs of recovery during the second-quarter accounting period.」
The impact of COVID-19 appeared throughout the fiscal year as a sharp decline in visitors, leading to lower revenue in the cemetery business. - FY2021-Q3RestatedAnnual report
「However, during the cumulative third-quarter period, an unprecedented sense of crisis caused by the COVID-19 pandemic spread among consumers, and the number of visitors (including prospective visitors) fell sharply, despite showing signs of recovery during the second-quarter accounting period.」
The sharp decline in visitors and prospective visitors due to the COVID-19 pandemic continued, and the recovery trend during the second-quarter accounting period alone was insufficient to recover the decline. - FY2021-Q2MaterialisedAnnual report
「However, during the cumulative second-quarter period, an unprecedented sense of crisis caused by the COVID-19 pandemic spread among consumers, and the number of visitors (including prospective visitors) fell sharply, despite showing signs of recovery during the second-quarter accounting period.」
The sharp decline in visitors and prospective visitors due to the COVID-19 pandemic continued. Although signs of recovery appeared during the second-quarter accounting period, the decline in the first quarter could not be recovered. - FY2021-Q1MaterialisedAnnual report
「However, during the first quarter accounting period, an unprecedented sense of crisis caused by the COVID-19 pandemic spread among consumers, and the number of visitors (including prospective visitors) fell sharply.」
Restrictions on going out and visiting cemeteries due to COVID-19 actually occurred, with the impact on the cemetery business becoming evident in a sharp decline in visitors. In the funeral business, the decline in attendees also led to a lower average funeral service price. - FY2020First statedAnnual report
「If COVID-19 fails to subside and consumers’ tendency to refrain from going out persists for an extended period, the cemetery business may see a marked decline in the number of visitors (including prospective visitors), while the funeral business may see a marked decline in funeral attendees, potentially affecting the Company’s results.」
The global spread of COVID-19 is described independently for the first time as a major risk that could affect results through declines in visitors and funeral attendees. The Company’s actual operating results for the period also describe the impact of declining visitor numbers at cemeteries and indoor mausoleums.