Risk of Store Closures and a Sharp Decline in Consumption Due to COVID-19
First written in FY2021-Q1. 7 of 18 entries say "Restated". Latest entry: FY2026.
Lapine 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: 69 of 91 companies on the "Worse" side.
1 other company's latest entry also says "Other".
- FY2026Explicit recognition that recovery to pre-COVID levels is difficultAnnual report
「Our group recognizes that the prolonged impact of COVID-19 has kept net sales sluggish for an extended period and that it will be difficult for net sales to return to pre-COVID levels. Based on this recognition, we aim to establish a stable earnings structure and achieve sustainable growth and development by implementing the following measures.」
While the company continues to state that the direct impact of COVID-19, such as store closures, has eased, it explicitly identifies the prolonged slump in sales and the structural impact of difficulty in recovering to pre-COVID levels. - FY2025-H1SoftenedAnnual report
「During the interim consolidated accounting period, Japan's economy continued on a gradual recovery trend as social and economic activity gradually normalized following the subsiding of COVID-19, while the employment and income environment also showed signs of improvement.」
The company explicitly cites the normalization of social and economic activity following the subsiding of COVID-19 and continues to recognize that the direct risk of operating restrictions caused by the infection had eased from before. - FY2025-Q1SoftenedAnnual report
「During the first quarter of the current consolidated fiscal year, Japan's economy followed a gradual recovery trend as social and economic activity gradually normalized following the containment of COVID-19, with corporate earnings improving and personal consumption showing signs of recovery.」
The company explicitly cites the containment of COVID-19 and the normalization of social and economic activity, stating that direct business risks caused by the infection, such as store closures and restrictions on going out, had eased from before. - FY2024SoftenedAnnual report
「During the current consolidated fiscal year, Japan's economic environment showed signs of a gradual recovery, as social and economic activity recovered with COVID-19 subsiding, and the economy began to pick up, albeit moderately.」
The company explicitly cites COVID-19 subsiding and the recovery of social and economic activity, stating that the direct risk of COVID-19, such as store closures, had eased from before. However, the challenging consumption environment continues. - FY2024-Q3RestatedAnnual report
「Since the classification of COVID-19 under the Infectious Diseases Control Law was changed to Class 5 in May 2023, signs of a recovery in consumption have emerged as restrictions on activities and other measures have been eased, although」
The company continues to describe signs of a recovery in consumption following the Class 5 reclassification and easing of restrictions on activities, but does not state that the impact of COVID-19 has disappeared. - FY2024-Q2SoftenedAnnual report
「Since the classification of COVID-19 under the Infectious Diseases Control Law was changed to Class 5 in May 2023, signs of a recovery in consumption have emerged as restrictions on activities and other measures have been eased, although」
The company indicates signs of a recovery in consumption as COVID-19 was reclassified as a Class 5 disease and restrictions on activities were eased, with the direct risk of operating restrictions lower than through the previous quarter. However, it does not state that the business impact of COVID-19 has disappeared. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, COVID-19 continued to affect the business from the previous fiscal year and had a significant impact on our group's operations. We will continue to monitor changes in the situation closely and respond accordingly.」
The company continues to state that the impact of COVID-19 has persisted from the previous fiscal year and is having a significant impact on the group's operations. - FY2023RestatedAnnual report
「During the current consolidated fiscal year, the impact of COVID-19 remained substantial throughout the year. Corporate activities and consumer behavior were restricted to prevent the spread of infection, and the difficult situation continued, with no foreseeable end to the pandemic.」
The company continues to describe throughout the fiscal year the restrictions on corporate activities and consumer behavior caused by COVID-19 and the difficult situation, with no foreseeable end to the pandemic. - FY2023-Q3RestatedAnnual report
「During the third quarter of the current consolidated fiscal year, COVID-19 continued to affect the business from the previous fiscal year and had a significant impact on our group's operations. We will continue to monitor changes in the situation closely and respond accordingly.」
The company reaffirms its recognition that the impact of COVID-19 has persisted from the previous fiscal year and is having a significant impact on the group's operations. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, COVID-19 continued to affect the business from the previous fiscal year and had a significant impact on our group's operations. We will continue to monitor changes in the situation closely and respond accordingly.」
The company reaffirms that the impact of COVID-19 has persisted from the previous fiscal year and is having a significant impact on the group's operations. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, COVID-19 continued to affect the business from the previous fiscal year and had a significant impact on our group's operations. We will continue to monitor changes in the situation closely and respond accordingly.」
The company continues to state that the impact of COVID-19 has persisted from the previous fiscal year and is having a significant impact on the group's operations. - FY2022-Q3SoftenedAnnual report
「As vaccination progressed, the number of new infections began to decline, and the state of emergency was fully lifted at the end of September, creating conditions in which a recovery in economic activity, which had been restrained for an extended period, was expected.」
The company states that the direct risk of operating restrictions caused by the spread of infection had eased from the previous quarter as vaccinations progressed and the state of emergency was fully lifted. However, it continues to indicate a slow recovery in consumption and a significant impact on the business. - FY2022-Q2WorsenedAnnual report
「In the apparel industry, our Group’s core business, the impact of closures and shortened operating hours at large commercial facilities, including department stores, and the fifth wave of COVID-19 infections was significant. As the end of the pandemic remained uncertain, the slump in personal consumption activity was expected to continue for some time, and conditions remained challenging.」
The company explicitly cites the impact of closures and reduced hours at large commercial facilities and the fifth wave, and describes the risk of continued sluggish personal consumption while the end of the pandemic remains unforeseeable. - FY2022-Q1RestatedAnnual report
「In the apparel industry, our Group’s core business, conditions remained challenging because large commercial facilities, including department stores, were again asked to close or shorten their operating hours, while the end of the COVID-19 pandemic remained uncertain and personal consumption activity remained sluggish.」
The company describes the reissuance of the state of emergency declaration, closures and reduced hours at large commercial facilities, and sluggish personal consumption as continuing business impacts of COVID-19. - FY2021WorsenedAnnual report
「During the current consolidated fiscal year, the impact of voluntary closures of commercial facilities and directly operated stores, as well as requests to refrain from going out following the declaration of a state of emergency in response to the spread of COVID-19, remained substantial. Even after the declaration was lifted, the arrival of second and third waves of COVID-19 left the situation unpredictable. Net sales fell 39.6% year on year, and we recorded an operating loss of ¥1.897 billion.」
The impact, including the second and third waves of COVID-19, continued throughout the fiscal year, resulting in net sales down 39.6% and an operating loss of ¥1.897 billion. - FY2021-Q3WorsenedAnnual report
「During the nine-month period of the current consolidated fiscal year, the impact of voluntary closures of commercial facilities and directly operated stores, as well as requests to refrain from going out following the declaration of a state of emergency in response to the spread of COVID-19, remained substantial. Even after the declaration was lifted, the arrival of second and third waves of COVID-19 left the situation unpredictable. Net sales fell 41.8% year on year, and we recorded an operating loss of ¥1.787 billion.」
The company explicitly cites the second and third waves in addition to the impact continuing from the first and second quarters, and discloses net sales down 41.8% and an operating loss of ¥1.787 billion. - FY2021-Q2WorsenedAnnual report
「Even after the state of emergency was lifted, conditions in August were such that they could be described as the arrival of a second wave of COVID-19, and the situation remained unpredictable. Net sales fell 46.8% year on year, and we recorded an operating loss of ¥1.128 billion and negative cash flow from operating activities of ¥954 million.」
In addition to the continuing impact of the infection from the first quarter, the company explicitly cites the second wave in August, with the actual impact on sales, operating profit or loss and operating cash flow increasing substantially. - FY2021-Q1First statedAnnual report
「The impact of voluntary closures of commercial facilities and directly operated stores, as well as requests to refrain from going out following the declaration of a state of emergency in response to the spread of COVID-19, was substantial. Net sales fell 62.0% year on year, and we recorded an operating loss of ¥304 million.」
The company describes the decline in sales and operating loss caused by the spread of COVID-19, the state of emergency and voluntary restrictions on store operations and outings as new risks that actually occurred in the first quarter.