Business interruption risk arising from natural disasters, epidemics, terrorism, accidents and fires
First written in FY2017. 5 of 12 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2020: 67 of 113 companies on the "Worse" side.
- FY2024RestatedAnnual report
「The Group has established a crisis management structure by setting up a Crisis Management Committee to address risks such as natural disasters, accidents and infectious diseases. From a business continuity perspective, the Group also prepares manuals, conducts disaster drills, implements measures at stores and offices to prevent the spread of infectious diseases, continues operations and takes appropriate and reasonable measures to resume operations. In particular, to address infectious disease risk in the department store business, the Group is focusing on sales initiatives that extend beyond physical stores by using e-commerce and other channels. The Group also maintains various types of property and casualty insurance.」
In addition to a Crisis Management Committee, business continuity manuals, training, infectious disease prevention measures and the use of e-commerce, insurance coverage was reiterated as a response measure. - FY2023Response measures made more specificAnnual report
「The Group has established a crisis management structure by setting up a Crisis Management Committee to address risks such as natural disasters, accidents and infectious diseases. From a business continuity perspective, the Group also prepares manuals, conducts disaster drills, implements measures at stores and offices to prevent the spread of infectious diseases, continues operations and takes appropriate and reasonable measures to resume operations. In particular, to address infectious disease risk in the department store business, the Group is focusing on sales initiatives that extend beyond physical stores by using e-commerce and other channels.」
Response measures for natural disaster, accident and infectious disease risks were organized to include a Crisis Management Committee, business continuity manuals, training, infectious disease prevention measures and the use of e-commerce. - FY2022-Q3RestatedAnnual report
「The department store industry was also forced to restrict entry to control visitor flows and take measures to avoid crowding at events in order to prevent the spread of COVID-19.」
Infectious disease risk continued to materialize as operating restrictions involving entry restrictions and crowd-avoidance measures at events. - FY2022-Q2RestatedAnnual report
「The department store industry was also forced to shorten operating hours and temporarily close some sales areas to prevent the spread of COVID-19, and to restrict entry to control visitor flows in the food floor and the 8th-floor event square during crowded periods.」
Infectious disease risk continued to materialize in shortened operating hours, temporary closures of some sales areas and restrictions on entry during crowded periods. - FY2022-Q1RestatedAnnual report
「However, following the government's declaration of a state of emergency in late April to prevent the spread of COVID-19 and its extension, both the Ginza store and the Asakusa store were forced to temporarily close some sales areas and shorten operating hours.」
Infectious disease risk continued to materialize in temporary closures of some sales areas and shortened operating hours at the Ginza and Asakusa stores following declarations of a state of emergency and related measures. - FY2021WorsenedAnnual report
「During the spread of a large-scale infectious disease such as COVID-19, the Group's results of operations and financial condition may be significantly affected, particularly in the department store and food and beverage businesses, by the suspension of store operations and declines in both domestic and inbound demand.」
The scope and severity of infectious disease risk were specified, with a potentially significant impact on results of operations and financial condition due to suspended store operations and declines in both domestic and inbound demand. - FY2021-Q3WorsenedAnnual report
「In the department store industry, Tokyo-area department store sales fell substantially below the previous year’s level as operating hours were shortened and stores temporarily closed to prevent the spread of COVID-19, while inbound sales virtually disappeared due to border controls worldwide.」
Infectious disease risk continued and worsened, resulting in shortened operating hours, temporary store closures and the near disappearance of inbound sales. - FY2021-Q1WorsenedAnnual report
「However, following the government's declaration of a state of emergency in early April to prevent the spread of COVID-19, and its extension in early May, both the Ginza store and the Asakusa store were forced to close temporarily.」
The risk of COVID-19 spreading materialized in temporary closures of the Ginza and Asakusa stores following the declaration of a state of emergency and its extension. - FY2020MaterialisedAnnual report
「In addition, the spread of COVID-19 continued to have a significant impact on economic activity and personal consumption. As a department store operator, the Group was forced to shorten operating hours and temporarily close stores to prevent the spread of infection, and sales to date have declined significantly.」
The spread of COVID-19 actually resulted in shortened operating hours, temporary store closures and a significant decline in sales to date. - FY2020-Q3MaterialisedAnnual report
「In the department store industry, Tokyo-area department store sales fell below the previous year's level due to the effects of a succession of natural disasters and changes in purchasing trends among visitors to Japan.」
A succession of natural disasters actually caused department store industry sales to fall below the previous year's level. - FY2018RestatedAnnual report
「In particular, a fire at a store could cause personal injury, potentially resulting in costs including liability for damages to victims,」
In addition to natural disasters, epidemics, terrorism, accidents and fires, the possibility of personal injury and liability for damages in the event of a store fire was described. - FY2017First statedAnnual report
「The Group's results of operations may be affected if a major earthquake, storm or flood or other natural disaster occurs, if an epidemic such as a novel influenza virus breaks out, or if an act of terrorism, other accident or related fire occurs.」
Risks relating to natural disasters, epidemics, terrorism, accidents and fires, particularly in the store and food and beverage businesses, were described.