Decline in Sales, Store Closures and Production Delays Caused by COVID-19
First written in FY2020. 7 of 16 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
Gyet 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 2025: 5 of 16 companies on the "Worse" side.
10 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual reportThe specific disclosures on store closures, declining sales and production delays due to COVID-19, which had been described as business risks through the previous fiscal year, cannot be found among the risk items in the current securities report.
- FY2024RestatedAnnual report
「COVID-19 may affect the Company’s performance if infections spread rapidly due to variants or other developments, through impacts on product procurement as well as operating restrictions imposed by the national or local governments and restrictions on consumer activity.」
Even after socioeconomic activity normalized, the Company continued to describe risks to product procurement, operating restrictions and consumer behavior if infections spread rapidly due to variants or other developments. - FY2024-Q3SoftenedAnnual report
「Although the normalization of socioeconomic activity is progressing following the reclassification of COVID-19 as a Class 5 infectious disease,」
The disclosure has shifted from focusing on the direct realized impact of store closures and requests to refrain from going out due to COVID-19 to describing the remaining economic risks on the premise that socioeconomic activity will normalize following the reclassification as a Class 5 infectious disease. - FY2024-Q1SoftenedAnnual report
「Although a gradual recovery trend has emerged as economic and social activity has normalized with the easing of restrictions on activities related to COVID-19, many factors continue to weigh on economic activity, including surging resource and raw material prices and higher living costs due to inflation, and uncertainty about the outlook persists.」
The disclosure has shifted from focusing on the realized impact of store closures and requests to refrain from going out due to COVID-19 to recognizing the easing of restrictions and normalization of social activity while describing future uncertainty. - FY2023SoftenedAnnual report
「COVID-19 may affect the Company’s performance if infections spread rapidly due to variants or other developments, through impacts on product procurement as well as operating restrictions imposed by the national or local governments and restrictions on consumer activity.」
The disclosure has shifted from focusing on the realized impact of COVID-19 on sales and customer traffic to conditionally describing future risks if infections spread rapidly due to variants or other developments. - FY2023-Q2RestatedAnnual report
「The Company will continue to closely monitor the impact of the spread of COVID-19 on its business.」
The Company continues to recognize the impact of COVID-19 on its business as a risk and continues to state that it will monitor future developments. - FY2023-Q1SoftenedAnnual report
「The Company will continue to closely monitor the impact of the spread of COVID-19 on its business.」
The Company continues to recognize the impact of COVID-19 on its business as a risk, but, against a backdrop of the lifting of priority preventive measures and the normalization of consumer activity, the disclosure has shifted from focusing on specific realized effects on sales and customer traffic to stating that the Company will monitor future developments. - FY2022MaterialisedAnnual report
「In addition to lower demand for outings such as travel and visits to family and a decline in customer traffic due to requests to refrain from going out, the Company had 11 fewer stores than at the end of the previous fiscal year. Net sales declined by ¥1,561 million from the previous fiscal year to ¥18,155 million.」
The lower demand for outings and requests to refrain from going out due to COVID-19 actually appeared in the full year as lower customer traffic and declining sales. - FY2022-Q3MaterialisedAnnual report
「Sales during the cumulative third-quarter period were compared with the previous fiscal year, when sales were significantly affected by requests to refrain from nonessential outings and reduced operating hours to prevent the spread of COVID-19. Although the first quarter showed signs of recovery, customer traffic continued to decline from the second quarter onward due to the spread of COVID-19. As a result, same-store customer traffic declined 7.0%.」
Customer traffic continued to decline from the second quarter onward due to the spread of COVID-19, and same-store customer traffic declined 7.0% year on year. - FY2022-Q2MaterialisedAnnual report
「During the second quarter, the Bon festival sales campaign performed poorly and customer traffic declined significantly. As a result, same-store sales increased 4.9% year on year, same-store customer traffic declined 3.3% and same-store average spending per customer increased 8.5%.」
Amid the continuing effects of requests to refrain from going out, reduced operating hours and facility closures to prevent the spread of infection, the impact actually appeared in the poor performance of the Bon festival sales campaign and a 3.3% decline in customer traffic. - FY2022-Q1RestatedAnnual report
「Although the spread of COVID-19 had a certain impact on performance during the cumulative first-quarter period, we determined that it did not have a material impact on accounting estimates. However, the heightened risk from a future spread of infections may affect the Company’s performance.」
The Company states that COVID-19 had a certain impact on quarterly performance while continuing to describe the possibility of an impact on performance from a future spread of infections as a risk. - FY2021MaterialisedAnnual report
「Although signs of a recovery in personal consumption emerged in June, customer traffic declined significantly due to changes in lifestyles accompanying the renewed spread of infections in the second and third waves and lower demand for outings such as travel and visits to family.」
The renewed spread of infections and changes in lifestyles and demand for outings actually resulted in lower customer traffic for the full year, a 18.6% decline in same-store sales and a 23.0% decline in net sales. - FY2021-Q3MaterialisedAnnual report
「However, customer traffic fell significantly due to changes in lifestyles and weaker demand for outings, including travel and visits to family.」
The Company states that changes in lifestyles under COVID-19 actually resulted in a significant decline in customer traffic through lower demand for outings such as travel and visits to family. - FY2021-Q2MaterialisedAnnual report
「The prolonged spread of COVID-19 presents a risk to the Company’s operations. However, as of the end of the second quarter of the fiscal year ending February 2021, the Company had ¥4.3 billion in cash and deposits and no bank borrowings, securing sufficient on-hand liquidity.」
The Company continued to describe the prolonged impact of COVID-19 as an operating risk and disclosed ¥4.3 billion in cash and deposits and no bank borrowings with respect to its on-hand liquidity. - FY2021-Q1MaterialisedAnnual report
「However, sales during the cumulative first-quarter period were significantly affected by a sharp decline in customer traffic resulting from requests to refrain from nonessential outings to prevent the spread of COVID-19, reduced operating hours and the closure of facilities housing stores. The situation deteriorated rapidly after the state of emergency was declared nationwide in April, significantly affecting sales during Golden Week, the largest sales campaign of the cumulative first-quarter period.」
Requests to refrain from going out, reduced operating hours, facility closures and the state of emergency declaration due to COVID-19 actually resulted in lower customer traffic and affected Golden Week sales. - FY2020First statedAnnual report
「COVID-19 is also spreading worldwide and may affect the Company’s performance, although it is difficult to make an objective estimate as of the filing date. As a result of these effects, sales in March–April 2020 declined by 51%.」
The Company described COVID-19 as a new business performance risk for the first time, citing store closures, reduced operating hours, declining customer traffic and production delays in Asia as impact factors, and disclosed a 51% decline in sales in March–April 2020.