Store Closures and Deteriorating Performance Due to COVID-19
First written in FY2021-Q1. 8 of 16 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2025.
Aoyama Trading 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.
33 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「If an unprecedented infectious disease such as COVID-19 occurs within the Group, restrictions on or partial suspension of business activities may affect the Group's operating results and financial position.」
The Group continues to recognize as risks the possibility of restrictions on business activities due to an infectious disease, deterioration in store profitability, impairment of property, plant and equipment and write-downs of deferred tax assets. - FY2024-Q3MitigatedAnnual report
「Following the reclassification of COVID-19 as a Class 5 infectious disease, restrictions on activity were eased and social and economic activity moved toward normalization.」
The transition to Category 5 and the easing of activity restrictions have made the impact of COVID-19 on store operations and results more limited than in the previous fiscal year. - FY2024-Q2MitigatedAnnual report
「As COVID-19 was reclassified as a Category 5 infectious disease, restrictions on activity were eased and economic and social activity moved further toward normalization.」
The transition of COVID-19 to Category 5 and the easing of activity restrictions made the pandemic's impact on store operations and results more limited than in the previous fiscal year, while economic and social activity moved toward normalization. - FY2024-Q1MitigatedAnnual report
「As restrictions on activity were eased, including following the reclassification of COVID-19 as a Class 5 infectious disease, the economy showed signs of a gradual recovery.」
The transition of COVID-19 to Category 5 and the easing of activity restrictions reduced the pandemic's impact on store operations and results compared with the previous fiscal year. - FY2023MitigatedAnnual report
「As restrictions that could lead to limits on activity and going out were eased, revenue remained above the previous fiscal year's level, among other factors」
Although the temporary decline in customer traffic caused by the resurgence of the pandemic remained, revenue exceeded the previous fiscal year's level as restrictions on activity and going out were eased. The pandemic's impact on results was more limited than in the previous fiscal year. - FY2023-Q3MitigatedAnnual report
「As restrictions that could lead to limits on activity and going out were eased throughout the period, revenue remained above the year-earlier level, among other factors」
Although the resurgence of COVID-19 caused a temporary decline in customer traffic, Group revenue exceeded the year-earlier level as restrictions on activity and going out were eased. The pandemic's impact on results was more limited than in the previous fiscal year. - FY2023-Q2MitigatedAnnual report
「Although a temporary decline in customer traffic occurred due to the resurgence of COVID-19 from mid-July onward, restrictions that could lead to limits on activity and going out were eased throughout the period, and revenue remained above the year-earlier level. Accordingly, the Group's results for the six months of the fiscal year under review were as follows.」
Although the resurgence of the pandemic caused a temporary decline in customer traffic, revenue exceeded the year-earlier level as restrictions on activity and going out were eased. The pandemic's impact on results was more limited than in the previous fiscal year. - FY2023-Q1RestatedAnnual report
「Looking ahead, concern remains over downside risks from a renewed spread of infections caused by new variants, surging raw material prices amid unstable international conditions, and volatility in the financial and capital markets, and uncertainty continues.」
The disclosure described the normalization of economic and social activity and the recovery in demand, while continuing to recognize the resurgence of infections caused by new variants as a downside risk. - FY2022MitigatedAnnual report
「During the first half, temporary store closures and shortened business hours were implemented at some stores in the business wear, comprehensive repair services and franchisee businesses due to declarations of a state of emergency and the application of priority preventive measures. However, the impact was limited compared with the previous fiscal year, and in the second half, although there was an impact from the resurgence of infections caused by variants, demand for occasions recovered as restrictions on activity were eased. As a result, the Group's results for the fiscal year under review were as follows.」
Closures and shortened business hours due to the pandemic continued, but their impact was limited compared with the previous fiscal year, and demand recovery resulting from eased activity restrictions was also noted. For the full year, operating profit was ¥2,181 million and net income attributable to owners of the parent was ¥1,350 million. - FY2022-Q3RestatedAnnual report
「The impact of the spread of COVID-19 may not be temporary. Although the Group is pursuing various structural reforms and reviewing expenses in response, if the impact continues over the medium to long term, it may affect the Group's operating results and financial position.」
The Group continued to recognize the same risks as in the previous quarter regarding the medium- to long-term impact of COVID-19, additional impairment of store property, plant and equipment and possible write-downs of deferred tax assets. At the same time, it explained that the impact of store closures and other measures was limited compared with the same period of the previous year. - FY2022-Q2WorsenedAnnual report
「The impact of the spread of COVID-19 may not be temporary. Although the Group is pursuing various structural reforms and reviewing expenses in response, if the impact continues over the medium to long term, it may affect the Group's operating results and financial position. Specifically, if the performance of operating stores deteriorates further and the Group decides to close unprofitable stores, it may record additional impairment losses on store property, plant and equipment. The Group also estimates future taxable income based on its medium-term management plan and assesses the recoverability of deferred tax assets within that amount. If the estimate declines and the Group determines that some or all of the deferred tax assets cannot be recovered in the future, it may write down the deferred tax assets and record tax expenses.」
While stating that the pandemic's impact on results was limited compared with the same period of the previous year, the disclosure specifies the potential financial effects of additional store impairment and write-downs of deferred tax assets if the impact persists over the medium to long term. - FY2022-Q1MitigatedAnnual report
「Although temporary store closures and shortened business hours were implemented at some stores, the impact was limited compared with the same period of the previous year, when the first state of emergency was declared. Accordingly, the Group's results for the first three months of the fiscal year under review were as follows.」
Although closures and shortened business hours associated with the state of emergency and priority preventive measures continued, the impact of the pandemic on results was limited compared with the same period of the previous year. - FY2021MaterialisedAnnual report
「The impact of COVID-19 may not be temporary. Although the Group is pursuing various structural reforms and reviewing expenses in response, if the impact continues over the medium to long term, it may affect the Group's operating results and financial position.」
The risk that the impact of COVID-19 could persist over the medium to long term, rather than remain temporary, was explicitly identified. For the full year, revenue was 74.1% of the previous fiscal year, the operating loss was ¥14,404 million and the net loss attributable to owners of the parent was ¥38,887 million. - FY2021-Q3MaterialisedAnnual report
「Revenue: ¥105,749 million (67.7% of the year-earlier level); operating loss: ¥15,628 million (year-earlier operating loss: ¥2,049 million); ordinary loss: ¥13,377 million (year-earlier ordinary loss: ¥1,406 million); quarterly net loss attributable to owners of the parent: ¥18,123 million (year-earlier quarterly net loss attributable to owners of the parent: ¥8,227 million)」
The impact of store closures and shortened business hours due to COVID-19 continued, resulting in nine-month revenue of 67.7% of the year-earlier level, an operating loss of ¥15,628 million and a quarterly net loss attributable to owners of the parent of ¥18,123 million. - FY2021-Q2MaterialisedAnnual report
「Although temporary store closures and shortened business hours were implemented in the first quarter, mainly in the business wear and comprehensive repair services businesses, the Group's results for the six months of the fiscal year under review were as follows: revenue of ¥61,065 million (59.9% of the year-earlier level) and an operating loss of ¥13,851 million (year-earlier operating loss: ¥1,557 million).」
The impact of store closures and shortened business hours due to COVID-19 continued, with revenue at 59.9% of the year-earlier level and an operating loss of ¥13,851 million. A loss of ¥1,531 million related to the response to the pandemic was also recorded as an extraordinary loss. - FY2021-Q1First statedAnnual report
「The economy deteriorated rapidly and remained in an extremely difficult situation due to the impact of COVID-19. The Group's results for the first three months of the fiscal year under review were revenue of ¥28,880 million (51.7% of the year-earlier level) and an operating loss of ¥7,448 million, due mainly to temporary store closures and shortened business hours, primarily in the business wear and comprehensive repair services businesses.」
COVID-19 was identified as a new external environmental factor, with its actual impact shown as lower revenue and an operating loss resulting from temporary store closures and shortened business hours.