Store closures and event cancellations caused by COVID-19 and their impact on business performance
First written in FY2020. 7 of 16 entries say "Materialised", first in FY2020. Latest entry: FY2025.
Nagahori 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 2020: 78 of 102 companies on the "Worse" side.
15 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual report
「Signs of a recovery in personal consumption and increased inbound demand were observed. However, uncertainty persisted amid high prices, the prolonged Russian invasion of Ukraine and the impact of U.S. policy developments on jewelry products.」
In the FY2025 discussion of the operating environment and risks, there was no mention of store closures or event cancellations due to COVID-19. The focus shifted to high prices, geopolitical risks and U.S. policy developments, based on an assumed recovery in personal consumption. - FY2024-Q2Eased infectious-disease restrictions alongside a recovery in salesAnnual report
「As restrictions related to COVID-19 were eased, people had more opportunities to go out, and personal consumption showed signs of recovery.」
Personal consumption showed signs of recovery as restrictions related to the infectious disease were eased and people had more opportunities to go out, while uncertainty due to yen depreciation and geopolitical risks continued. - FY2024-Q1Eased infectious-disease restrictions alongside continued impactAnnual report
「As restrictions related to COVID-19 were eased, people had more opportunities to go out, and personal consumption showed signs of recovery.」
While easing restrictions on behavior related to the infectious disease and a recovery in sales were indicated, the company also stated that it would continue monitoring the impact of the infectious disease and taking appropriate measures, indicating that the impact and recovery coexisted. - FY2023RestatedAnnual report
「Operating activities began to recover as restrictions imposed to control COVID-19 were eased, but uncertainty persisted amid the effects of voluntary restrictions on behavior to counter a resurgence of infections and rising prices.」
Operating activities recovered as restrictions imposed to control the infectious disease were eased, while voluntary restrictions on behavior and caution over a resurgence of infections remained; the impact of the infectious disease and uncertainty continue to be described. - FY2023-Q3Continued impact of the infectious disease alongside a recovery trend in salesAnnual report
「Sales trends in the jewelry industry were recovering as restrictions imposed to control the spread of COVID-19 were eased. However, uncertainty about the outlook continued amid the effects of voluntary restrictions on behavior in response to the spread of infection, substantial yen depreciation and inflationary pressures.」
Sales trends began to recover as restrictions imposed to control the infectious disease were eased, but the effects of voluntary restrictions on behavior remained, and the impact of the infectious disease on business activities and uncertainty continued. - FY2023-Q2Continued impact of the infectious disease alongside recovery in salesAnnual report
「Although sales trends in the jewelry industry are recovering as restrictions imposed to prevent the spread of COVID-19 have been eased, the outlook remains uncertain due to the impact of voluntary restrictions on activities in response to infections, the continuing depreciation of the yen and inflationary pressures.」
Sales trends began to recover as restrictions imposed to control the infectious disease were eased, but the effects of voluntary restrictions on behavior remained, and the impact of the infectious disease on business activities and uncertainty continued. - FY2023-Q1Continued impact of the infectious disease alongside recovery in economic activityAnnual report
「The spread of COVID-19 continues to affect the Group's business activities, and we will continue to monitor the situation closely and take appropriate measures.」
While the company described eased restrictions on economic activity and signs of a recovery in personal consumption, it also stated that the impact of the spread of COVID-19 on business activities continues. - FY2022Continued impact of the infectious disease alongside recovery in operating activitiesAnnual report
「After being affected by people refraining from going out amid the resurgence of COVID-19, operating activities began to recover, but the effects of COVID-19, including reduced customer traffic and postponed events, continued to be seen from the beginning of the year.」
Although people refraining from going out, reduced customer traffic and postponed events due to the resurgence of the infectious disease actually occurred, operating activities began to recover. The impact of the infectious disease on business performance and uncertainty about the outlook continue. - FY2022-Q3Continued impact of the infectious disease and recovery in operating activitiesAnnual report
「After being affected by reduced customer traffic as people refrained from going out amid the resurgence of COVID-19, operating activities gradually began to recover, but uncertainty persisted.」
Although the impact of reduced customer traffic caused by the resurgence of the infectious disease actually occurred, operating activities gradually recovered. Business performance also improved, including the jewelry business's return to profitability, but the impact of the infectious disease and uncertainty about the outlook continued. - FY2022-Q2MaterialisedAnnual report
「The jewelry industry was also affected by reduced customer traffic as people refrained from going out amid the resurgence of COVID-19. Uncertainty persisted amid continued restraint in consumer behavior and concerns about deterioration in employment and income conditions.」
Requests to refrain from going out, reduced customer traffic and restrained consumer spending associated with the resurgence of the infectious disease actually occurred during the cumulative second quarter. Meanwhile, the jewelry business moved from a segment loss in the same period of the previous year to a profit through sales activities conducted with infectious-disease measures in place. - FY2022-Q1MaterialisedAnnual report
「The jewelry industry was also affected by requests to close under the third state of emergency declared in some areas in response to COVID-19 and by reduced customer traffic due to requests to refrain from going out」
Requests to close under the third state of emergency and reduced customer traffic due to requests to refrain from going out actually occurred, and the impact of the infectious disease on sales activities continued in the first quarter under review. - FY2021MaterialisedAnnual report
「During the fiscal year under review, the Group was seriously affected by the spread of COVID-19. The government declared a state of emergency in April last year, causing revenue to fall sharply in the first quarter. Although revenue subsequently began to recover, the state of emergency was declared again in January this year in certain prefectures and metropolitan areas, and difficult conditions continue.」
The sharp decline in first-quarter sales caused by the state of emergency and the impact of its re-declaration in January of the following year actually occurred during the year. - FY2021-Q3MaterialisedAnnual report
「Following an unprecedented decline in sales caused by the state of emergency declared in response to COVID-19, sales outlets and sales events resumed and sales gradually began to recover, but the number of new infections entered a phase described as the third wave」
The decline in sales caused by the state of emergency, the reopening of stores and events, and restrained consumer spending due to the third wave of infections continued, and the impact of the infectious disease on sales and business performance continued through the cumulative third quarter. - FY2021-Q2MaterialisedAnnual report
「The jewelry industry was also significantly constrained in its sales activities by the declaration of a state of emergency over COVID-19. Although sales outlets and sales events gradually resumed operations after the declaration was lifted, people continued to refrain from spending, and uncertainty persisted amid concerns about deterioration in employment and income conditions.」
Restrictions on sales activities under the state of emergency, the phased reopening of stores and events, and restrained consumer spending actually occurred, and jewelry business revenue decreased 38.0% year on year. The impact of the infectious disease on business performance continued through the cumulative second quarter. - FY2021-Q1MaterialisedAnnual report
「Following the declaration of a state of emergency, department stores, our principal business partners, and many sales outlets closed. We responded by shortening operating hours at each business location and closing the entire head office. As a result, significant sales opportunities disappeared.」
The closure of principal business partners and stores, shortened operating hours, head-office closure and loss of sales opportunities due to COVID-19 actually occurred in the first quarter. Revenue decreased 49.3% year on year, and the operating loss was ¥346 million. - FY2020MaterialisedAnnual report
「During the fiscal year under review, COVID-19 emerged, and the jewelry business saw fourth-quarter revenue slow and profit come under pressure as a result of requests to refrain from going out, shortened operating hours and other effects.」
COVID-19 emerged during the year, and the slowdown in fourth-quarter revenue, pressure on profit, store closures, shortened operating hours and cancellations of sales events actually occurred. The company also stated that weak consumer spending and the risk that the effects on stores and events would continue in the following fiscal year, while noting that it was difficult to reasonably calculate the amount of the impact.