Store Closures Due to COVID-19 and Their Impact on Accounting Estimates
First written in FY2020. 15 of 19 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
- FY2026RestatedAnnual report
「If the above estimates and assumptions need to be revised due to changes in future uncertain economic conditions or other factors, additional impairment losses (extraordinary losses) may be recognized in the financial statements for the following fiscal year and thereafter.」
The Company continues to disclose estimates concerning impairment testing of property, plant and equipment and the risk of additional impairment losses due to changes in future economic conditions. - FY2026-H1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no significant changes from the previous fiscal year in accounting estimates and their underlying assumptions. - FY2025ReframedAnnual report
「If the above estimates and assumptions need to be revised due to changes in future uncertain economic conditions or other factors, additional impairment losses (extraordinary losses) may be recognized in the financial statements for the following fiscal year and thereafter.」
The focus has shifted from accounting estimates based on assumptions concerning COVID-19 to a general statement regarding the risk of additional impairment losses on property, plant and equipment due to changes in future economic conditions. - FY2025-H1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no significant changes from the previous fiscal year in accounting estimates and their underlying assumptions. - FY2024-Q2RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no significant changes from the previous fiscal year in accounting estimates and their underlying assumptions. - FY2024-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The Company reconfirmed that there had been no material changes from the previous fiscal year in the accounting estimates and assumptions related to the infection and other matters. - FY2023RestatedAnnual report
「For the fiscal year, the Company made accounting estimates based on the key assumption that COVID-19 would not have a material impact on the business during the following fiscal year and thereafter, and that indicators such as the year-on-year sales performance ratio, year-on-year rent revenue performance ratio and cost-of-sales ratio would not fluctuate significantly throughout the period covered by estimates of future cash flows.」
The Company conducted impairment testing of stores and rental properties based on the assumption that the infection would not have a material impact from the following fiscal year onward. It continues to state that additional impairment losses may arise due to future economic conditions. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2023-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2022RestatedAnnual report
「For the fiscal year, the Company made accounting estimates based on the key assumption that COVID-19 would not have a material impact on the business during the following fiscal year and thereafter, and that indicators such as the year-on-year sales performance ratio and cost-of-sales ratio would not fluctuate significantly throughout the period covered by estimates of future cash flows.」
The Company continues to state that, while assuming that COVID-19 will not have a material impact from the following fiscal year onward, additional impairment losses may arise due to changes in future economic conditions. - FY2022-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2022-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2021WorsenedAnnual report
「The above forecasts involve uncertainty depending on when the COVID-19 pandemic will subside and the resulting economic environment, and may have a material impact on the determination of whether impairment losses are required. If the above estimates and assumptions need to be revised due to changes in future uncertain economic conditions or other factors, additional impairment losses (extraordinary losses) may be recognized in the financial statements for the following fiscal year and thereafter.」
The Company explicitly states that uncertainty over when the COVID-19 pandemic will subside and other factors may materially affect impairment testing and that additional impairment losses may arise in the following fiscal year and thereafter. - FY2021-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2021-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new additional information or material changes to the information and other matters disclosed in the annual securities report for the previous fiscal year.」
The Company stated that there was no new additional information or material change concerning accounting estimates related to COVID-19. - FY2021-Q1MaterialisedAnnual report
「Following the government's declaration of a state of emergency, the company closed all stores to prevent the spread of infection among customers and employees and to ease their concerns. From mid-May 2020, it gradually resumed operations, starting with stores in regional areas, and reopened all stores on 3 June.」
All stores actually closed and subsequently reopened as the infection spread, and sales and profit for the first quarter deteriorated significantly from the same quarter of the previous year. - FY2020MaterialisedAnnual report
「Following the spread of COVID-19, the Government issued a state of emergency on 7 April 2020, which was expanded nationwide on 16 April, resulting in store closures and weaker performance in April and May 2020 than in a typical year. The Company assumed that store closures would continue through May 2020. Although the Company expected performance to improve from June onward, it assumed that sales and other measures would require a period extending through the end of the following fiscal year to recover to pre-pandemic levels, and made accounting estimates concerning the recoverability of deferred tax assets and whether impairment losses on property, plant and equipment should be recognized, among other matters.」
Store closures and deteriorating performance resulting from the spread of the infection actually occurred and were reflected in accounting estimates concerning the recoverability of deferred tax assets and whether impairment of property, plant and equipment should be recognized.