Doubt regarding the going concern assumption due to COVID-19
First written in FY2021-Q1. 4 of 11 entries say "Restated". Latest entry: FY2023.
Takachiho moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.
9 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual reportThe annual securities report for the current fiscal year contains no identifiable reference to “events or conditions that may raise substantial doubt about the going-concern assumption,” which had been explicitly stated through the previous fiscal year.
- FY2023-Q3MitigatedAnnual report
「However, although it is difficult at this point to forecast when the infection will subside, domestic tourists continued to increase during the third quarter of the current consolidated cumulative period as various restrictions on activities remained lifted, and sales and earnings in the Group's core tourist-souvenir businesses have also been recovering. In addition to its cash and deposits at the end of the third quarter of the current consolidated cumulative period, the Group expects to continue receiving support from its financial institutions as a precaution against a prolonged spread of the infection, and can secure operating funds on a stable basis. Accordingly, the Group assesses that no material uncertainty exists regarding the going-concern assumption.」
Although the Group continues to recognize conditions raising substantial doubt about the going-concern assumption, it continues to assess that there is no material uncertainty based on the recovery in its tourist-souvenir businesses, funds on hand and the outlook for support from financial institutions. - FY2023-Q2MitigatedAnnual report
「However, although it is difficult at this point to forecast when the infection will subside, domestic tourists continued to increase during the second quarter of the current consolidated cumulative period as various restrictions on activities remained lifted, and sales and earnings in the Group's core tourist-souvenir businesses have also been recovering. In addition to its cash and deposits at the end of the second quarter of the current consolidated accounting period, the Group expects to continue receiving support from its financial institutions as a precaution against a prolonged spread of the infection, and can secure operating funds on a stable basis. Accordingly, the Group assesses that no material uncertainty exists regarding the going-concern assumption.」
Although the Group continues to recognize conditions raising substantial doubt about the going-concern assumption, it continues to assess that there is no material uncertainty based on the recovery in its tourist-souvenir businesses, funds on hand and the outlook for support from financial institutions. - FY2023-Q1MitigatedAnnual report
「However, although it is difficult at this point to forecast when the infection will subside, domestic tourists increased during the first quarter of the current consolidated cumulative period following the lifting of various restrictions on activities, and sales and earnings in the Group's core tourist-souvenir businesses have also been recovering. In addition to its cash and deposits at the end of the first quarter of the current consolidated accounting period, the Group expects to continue receiving support from its financial institutions as a precaution against a prolonged spread of the infection, and can secure operating funds on a stable basis. Accordingly, the Group assesses that no material uncertainty exists regarding the going-concern assumption.」
Although the Group continues to recognize events and conditions raising substantial doubt about the going-concern assumption, it continues to assess that there is no material uncertainty based on the recovery trend in its tourist-souvenir businesses, funds on hand and the outlook for support from financial institutions. - FY2022-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, the Group was affected by a substantial decline in domestic tourists resulting from the declaration of a state of emergency due to the spread of COVID-19, the reissuance of priority preventive measures to prevent the spread of disease, and related requests to refrain from going out. As a result of the decline in sales in its core businesses related to tourist souvenirs, namely souvenir wholesale, souvenir retail and souvenir manufacturing, the Group recognized an operating loss and ordinary loss, and therefore recognizes that events or conditions exist that raise substantial doubt about the going-concern assumption.」
The Group continues to recognize material doubt about the going-concern assumption arising from the recognition of an operating loss and ordinary loss. Meanwhile, based on cash and deposits and support from financial institutions, it continues to assess that there is no material uncertainty. - FY2022-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, the Group was affected by a substantial decline in domestic tourists resulting from the declaration of a state of emergency due to the spread of COVID-19, the reissuance of priority preventive measures to prevent the spread of disease, and related requests to refrain from going out. As a result of the decline in sales in its core businesses related to tourist souvenirs, namely souvenir wholesale, souvenir retail and souvenir manufacturing, the Group recognized an operating loss, ordinary loss and quarterly net loss attributable to owners of the parent, and therefore recognizes that events or conditions exist that raise substantial doubt about the going-concern assumption.」
The material doubt about the going-concern assumption arising from the decline in tourists and losses in the 3 souvenir-related businesses continued through the six months ended the second quarter. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the Group was affected by a substantial decline in domestic tourists resulting from the declaration of a state of emergency due to the spread of COVID-19, the reissuance of priority preventive measures to prevent the spread of disease, and related requests to refrain from going out. As a result of the decline in sales in its core businesses related to tourist souvenirs, namely souvenir wholesale, souvenir retail and souvenir manufacturing, the Group recognized an operating loss, ordinary loss and quarterly net loss attributable to owners of the parent, and therefore recognizes that events or conditions exist that raise substantial doubt about the going-concern assumption.」
The Group recognizes that events and conditions raising substantial doubt about the going-concern assumption continue to exist, due to the decline in tourists caused by declarations of a state of emergency and other measures and losses in the 3 souvenir-related businesses. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, the Group was affected by the suspension of operations at directly operated stores following the declaration of a state of emergency in response to the spread of COVID-19, as well as a substantial decline in domestic tourists resulting from requests to refrain from going out. As a result of the significant decline in sales in its core businesses related to tourist souvenirs, namely souvenir wholesale, souvenir retail and souvenir manufacturing, the Group recognized an operating loss, ordinary loss and net loss attributable to owners of the parent, and therefore recognizes that events or conditions exist that raise substantial doubt about the going-concern assumption.」
Events and conditions raising substantial doubt about the going-concern assumption were recognized for the full fiscal year, with a significant decline in revenue from the 3 tourist-souvenir businesses and the recognition of operating, ordinary and net losses. Meanwhile, based on cash balances and the outlook for support from financial institutions, the Group indicates that it continues to assess there is no material uncertainty. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, our Group’s directly operated stores voluntarily suspended operations following the declaration of a state of emergency in response to the spread of COVID-19, and domestic tourists declined substantially due to requests to refrain from going out. As a result, the substantial decline in sales in the tourist souvenir business, our mainstay business, led to the recording of an operating loss, ordinary loss and quarterly net loss attributable to owners of the parent. Accordingly, we recognize that events or conditions exist that may raise significant doubt about the going concern assumption.」
The material doubt about the going-concern assumption arising from the recognition of an operating loss, ordinary loss and quarterly net loss continued through the nine months ended the third quarter. Meanwhile, the assessment that there is no material uncertainty also remains unchanged. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter under review, our Group’s directly operated stores voluntarily suspended operations following the declaration of a state of emergency in response to the spread of COVID-19, and domestic tourists declined substantially due to requests to refrain from going out. As a result, the substantial decline in sales in the tourist souvenir business, our mainstay business, led to the recording of an operating loss, ordinary loss and quarterly net loss attributable to owners of the parent. Accordingly, we recognize that events or conditions exist that may raise significant doubt about the going concern assumption.」
Events or conditions giving rise to significant doubt about the going concern assumption continued during the cumulative second quarter, resulting in an operating loss of ¥509 million, an ordinary loss of ¥506 million and a quarterly net loss attributable to owners of the parent of ¥794 million. At the same time, the company continues to determine that no material uncertainty exists based on its cash balance and support from financial institutions. - FY2021-Q1First statedAnnual report
「During the cumulative first quarter under review, the Company’s directly operated stores voluntarily suspended operations following the declaration of a state of emergency in response to the spread of COVID-19, and domestic tourists declined substantially due to requests to refrain from going out. As a result, the substantial decline in sales in the tourist souvenir business, the Company’s mainstay business, led to the recording of an operating loss, ordinary loss and quarterly net loss attributable to owners of the parent. Accordingly, the Company recognizes that events or conditions exist that may raise significant doubt about the going concern assumption.」
The company has for the first time explicitly stated that events or conditions giving rise to significant doubt about the going concern assumption exist, due to the substantial decline in sales and the recording of operating loss, ordinary loss and net loss. However, it has determined that no material uncertainty exists based on its cash and deposits and support from financial institutions.