Store Closures and Business Performance Impact from the Expansion of COVID-19
First written in FY2020. 7 of 16 entries say "Restated". Latest entry: FY2024.
Ringer Hut 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: 68 of 90 companies on the "Worse" side.
8 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「During the current consolidated fiscal year, Japan's economic environment moved toward normalization as behavioral restrictions were eased following the reclassification of COVID-19 as a Class 5 disease on 8 May 2023.」
The focus has shifted from the direct impact of the spread of infection, closures and behavioral restrictions toward the transition to Class 5, the normalization of economic activity and dining-out opportunities, and the remaining cost burdens. - FY2024-Q3ReframedAnnual report
「In the food service industry, COVID-19 was reclassified as a Class 5 disease, and personal consumption, which had declined substantially during the pandemic, is also recovering.」
The discussion has shifted from the direct business impact of the spread of infection and behavioral restrictions toward the transition to Class 5 and the recovery in personal consumption. - FY2024-Q1ReframedAnnual report
「In the food service industry, consumer purchasing activity is returning to pre-pandemic levels as COVID-19 was reclassified to Category 5, but the business environment remains challenging due to concerns over weaker consumption amid continuing price increases, surging raw material and utilities costs, and ongoing difficulties in hiring.」
The discussion of COVID-19 has shifted from a focus on the spread of infection and behavioral restrictions toward the transition to Class 5 and the normalization of consumer purchasing activity, while continuing to indicate the remaining challenges, including higher prices. - FY2023ReframedAnnual report
「Although store operating-hour reductions and voluntary restraint from going out due to the seventh and eighth waves of COVID-19 had an impact on revenue, personal consumption has recovered since the full lifting of the priority preventive measures, and the Group has continued to focus on takeout and delivery services. As a result, net same-store customer traffic was 107.2% of the prior consolidated fiscal year's level, and net same-store sales were 111.8%.」
Although operating restrictions related to the seventh and eighth waves remained, the recovery in personal consumption after the lifting of behavioral restrictions and takeout and delivery initiatives drove existing-store customer traffic and revenue above the prior-year levels. - FY2023-Q3RestatedAnnual report
「There was no material change to the key assumptions concerning COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The Group reconfirms that there have been no material changes from the previous fiscal year in the key accounting assumptions related to COVID-19. - FY2023-Q2RestatedAnnual report
「There was no material change to the key assumptions concerning COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The Group reconfirms that there have been no material changes from the previous fiscal year in the key accounting assumptions related to COVID-19. - FY2023-Q1RestatedAnnual report
「There was no material change to the key assumptions concerning COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The Group reconfirms that there have been no material changes from the previous fiscal year in the key accounting assumptions related to COVID-19. - FY2022WorsenedAnnual report
「The spread of COVID-19 has had a significant impact on our business activities. Although we expect our business to continue to be affected, we assume that the impact of the spread of COVID-19 will continue through fiscal 2022.」
The assumed period of continued impact from the infection has been extended from through fiscal 2021 to through fiscal 2022. The Group also uses this assumption in impairment accounting for fixed assets and in assessing the recoverability of deferred tax assets. - FY2022-Q3RestatedAnnual report
「The spread of COVID-19 has had a significant impact on our business activities. Although we expect our business to continue to be affected, we assume that the impact of the spread of COVID-19 will continue through fiscal 2021.」
The impact of COVID-19 continues, and the Group maintains its assumption that the impact will continue through fiscal 2021. It uses the same assumption in impairment accounting for fixed assets and in assessing the recoverability of deferred tax assets. - FY2022-Q2RestatedAnnual report
「The spread of COVID-19 has had a significant impact on our business activities. Although we expect our business to continue to be affected, we assume that the impact of the spread of COVID-19 will continue through fiscal 2021. Based on this assumption, the Group has made accounting estimates, including applying impairment accounting to fixed assets and assessing the recoverability of deferred tax assets.」
The infection continues to affect the business, and the Group maintains its assumption that the impact will continue through fiscal 2021. It uses the same assumption in impairment accounting for fixed assets and in assessing the recoverability of deferred tax assets. - FY2022-Q1RestatedAnnual report
「The spread of COVID-19 has had a significant impact on our business activities. Although we expect our business to continue to be affected, we assume that the impact of the spread of COVID-19 will continue through fiscal 2021.」
The Group states that the infection continues to affect its business and maintains its assumption that the impact will continue through fiscal 2021. - FY2021WorsenedAnnual report
「Recently, there have been concerns that the economic impact of the spread of COVID-19 may persist for an extended period, potentially having a material impact on the Group's performance. The impact of temporary store closures and reduced operating hours in response to various requests from the government and local authorities, as well as requests to refrain from going out, was significant, and net same-store sales were 71.7% of the prior consolidated fiscal year's level.」
As concerns over the prolonged impact of the infection continued, full-year same-store sales fell to 71.7%, and the impacts of declining revenue, an operating loss and impairment losses, among others, materialized and expanded. - FY2021-Q3RestatedAnnual report
「The spread of COVID-19 has had a significant impact on our business activities. Although we expect our business to continue to be affected, we assume that the impact of the spread of COVID-19 will continue through fiscal 2021. Based on this assumption, the Group has made accounting estimates, including applying impairment accounting to fixed assets and assessing the recoverability of deferred tax assets.」
The Group continues to assume that the impact of COVID-19 will persist through fiscal 2021 and uses this assumption in impairment accounting and assessments of the recoverability of deferred tax assets. - FY2021-Q2WorsenedAnnual report
「The spread of COVID-19 led to a state of emergency being declared in Japan and has had a significant impact on our business activities. Although we expect our business to continue to be affected, based on conditions in the second quarter and other factors, we have revised our assumption regarding the spread of COVID-19 and the timing of its containment, and now expect the impact to continue through fiscal 2021.」
The Group expects the impact of the infection to persist and has revised its assumption regarding the period of impact through fiscal 2021. It also reports a same-store sales ratio of 65.0% year on year, substantial losses and impairment losses of ¥1,625 million. - FY2021-Q1MaterialisedAnnual report
「In addition to a sharp decline in customer traffic caused by requests to close temporarily and refrain from going out to prevent the spread of COVID-19, the impact of the consumption tax increase has continued, and the business environment surrounding the Group remains challenging. For existing stores, same-store sales for all Group stores during the cumulative first quarter of the current consolidated fiscal year were 56.9% of the prior-year level.」
The impact of COVID-19 materialized in the form of requests to close temporarily and refrain from going out, a same-store sales ratio of 56.9% year on year, a substantial decline in revenue and an operating loss. Additional information describes temporary closures at some stores, reduced operating hours, infection-control measures and accounting estimates for impairment losses based on a gradual normalization over the first half of the year. - FY2020MaterialisedAnnual report
「Recently, there have been concerns that the economic impact of the spread of COVID-19 may persist for an extended period, potentially having a material impact on the Group's performance.」
The Group newly identifies the prolonged impact of COVID-19 as a risk. It separately describes temporary store closures, reduced operating hours, the impact on revenue and the recognition of impairment losses.