Risk of Declining Sales and Supply Chain Disruptions Due to COVID-19
First written in FY2020. 7 of 13 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024-Q2.
Tabaya Holdings 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.
9 other companies' latest entry also says "Softened".
- FY2024-Q2SoftenedAnnual report
「During the second quarter of the current consolidated cumulative period, socioeconomic activity normalized following the reclassification of COVID-19 to Category 5, and Japan’s economy remained on a gradual recovery track, with personal consumption also improving.」
The company reported normalization of socioeconomic activity and a recovery in personal consumption following the reclassification of COVID-19 to Category 5, indicating that downside risks to the sales environment had weakened from before. - FY2024-Q1SoftenedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan’s economy was on a gradual recovery track as socioeconomic activity normalized following the reclassification of COVID-19 to Category 5.」
The company stated that socioeconomic activity was normalizing following the reclassification of COVID-19 to Category 5 and that downside risks to the sales environment from the pandemic had weakened from before. - FY2023SoftenedAnnual report
「The spread of COVID-19 was gradually moving toward containment, and the company assumed that the recovery trend in future earnings from the impact of COVID-19 on the Group would continue from the fiscal year ending March 2024 onward.」
Although sales-environment risks from the pandemic remain, the company’s disclosures shifted to assume normalization of socioeconomic activity and a recovery trend in future earnings. - FY2023-Q2RestatedAnnual report
「Although infections began spreading again from July, socioeconomic activity continued to normalize and the economy remained on a recovery track.」
Although infections spread again, the company also reported normalization of socioeconomic activity and a recovery trend. The sales-environment risk from the pandemic continues, but conditions are not deteriorating in one direction only. - FY2023-Q1WorsenedAnnual report
「Although it remains difficult to predict when COVID-19 will subside, the Group has assumed that the impact of the spread of COVID-19 will continue from the fiscal year ending March 2023 onward and has made accounting estimates including inventory valuation, impairment accounting for fixed assets and the recoverability of deferred tax assets.」
The company now assumes that the impact of COVID-19 will continue from the fiscal year ending March 2023 onward, extending the expected duration of the effects compared with previously. - FY2022-Q3WorsenedAnnual report
「As vaccination coverage increased in Japan, the number of new cases began to decline and signs of a gradual return to normal emerged. However, Omicron cases were confirmed in Japan in November, raising concerns about another spread of infections. With infection risks still present, certain restrictions on economic activity and changes in behavior are expected, and the situation in which customer traffic, and consequently sales, are affected continues.」
Although infections declined and business operations began to normalize, confirmation of Omicron cases in Japan raised concerns about another wave, and the impact on customer traffic and sales continues. - FY2022-Q2WorsenedAnnual report
「The apparel retail industry continued to face a difficult business environment, as the rapid spread of variants led to the reissuance of the state of emergency, expansion of the areas covered and extension of its duration, resulting in shortened store hours and lower customer traffic due to requests to refrain from going out.」
The rapid spread of variants, expansion of the areas covered by the state of emergency and extension of its duration resulted in a difficult sales environment characterized by shortened business hours and lower customer traffic. - FY2022-Q1RestatedAnnual report
「The apparel retail industry also continues to face an extremely difficult business environment, including physical-store closures and shortened business hours following the declaration of a state of emergency, as well as sluggish customer traffic caused by requests to refrain from going out.」
Store closures and shortened business hours associated with the state of emergency, together with sluggish customer traffic due to requests to refrain from going out, continued to affect the sales environment because of COVID-19. - FY2021WorsenedAnnual report
「Although signs of recovery emerged as economic activity resumed after the state of emergency declared due to the spread of COVID-19 was lifted in May 2020, the state of emergency was declared again in January 2021. With infection risks still present, certain restrictions on economic activity and changes in behavior are expected, and the situation in which customer traffic, and consequently sales, are affected continues.」
The reissuance of the state of emergency in January 2021 has prolonged the impact of COVID-19 on infections, sales and customer traffic. - FY2021-Q3WorsenedAnnual report
「Although signs of recovery emerged as economic activity resumed after the state of emergency declared due to the spread of COVID-19 was lifted in May 2020, the state of emergency was declared again in January 2021. With infection risks still present, certain restrictions on economic activity and changes in behavior are expected, and the situation in which customer traffic, and consequently sales, are affected continues.」
The company indicated that the state of emergency was reissued in January 2021 and assumed for accounting purposes that the impact of the spread of COVID-19 would continue from the fiscal year ending March 2022 onward, implying a longer expected duration of the effects. - FY2021-Q2WorsenedAnnual report
「Although it is difficult to predict when COVID-19 will subside, the Group has assumed that consumer sentiment will recover to some extent by the end of March 2021, while the impact of the spread of COVID-19 will continue from the fiscal year ending March 2022 onward, and has made accounting estimates including impairment accounting for fixed assets and the recoverability of deferred tax assets.」
The company assumed that the impact of the pandemic would continue from the fiscal year ending March 2022 onward, extending the assumed duration of its effects on sales and customer traffic beyond the short term. - FY2021-Q1WorsenedAnnual report
「Revenue for the first quarter of the current consolidated cumulative period fell 40.8% year on year to ¥22,198 million, mainly due to a substantial decline in physical-store sales associated with the spread of COVID-19. At UNITED ARROWS LTD., same-store sales from retail stores and online shopping were 63.0% of the year-earlier level.」
Physical-store closures, lower inbound demand and a sharp decline in sales associated with the spread of COVID-19 continued and worsened in the first quarter. Assuming that the impact of the pandemic would continue for a certain period, the company also estimated impairment losses on fixed assets and the recoverability of deferred tax assets. - FY2020MaterialisedAnnual report
「As COVID-19 continues to spread globally, depending on how the situation develops, supply chain disruptions such as delayed deliveries from product suppliers, restrictions on sales activities and temporary store closures could disrupt the Group’s sales activities and affect its results.」
The company explicitly identified COVID-19 as a standalone material risk for the first time. The main text states that declines in inbound demand, shortened business hours, temporary closures, lower physical-store sales, and impacts on procurement and sales activities had already occurred.