Impact of COVID-19 on Demand, Supply and Operating Activities
First written in FY2020. 4 of 13 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2026-H1.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period under review, there were no significant changes in the matters described in this interim report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It states that there have been no significant changes in the risks of reduced demand, procurement delays, working restrictions and temporary closures resulting from infectious diseases. - FY2024RestatedAnnual report
「Infectious diseases that may occur in Japan or overseas are the most significant risk of concern for the department store industry, as they may cause consumers to refrain from spending and undermine consumer sentiment. If these risks materialise, they could significantly disrupt the business activities of our group and adversely affect business performance and financial condition by reducing consumer demand, delaying the procurement of products due to supply chain disruptions, constraining employees’ working arrangements, including work-from-home and shift work, and causing temporary store closures or reduced operating hours.」
The risks of reduced demand, procurement delays, working restrictions, temporary closures and reduced operating hours resulting from infectious diseases continue to be identified as the most significant risks. - FY2023-Q1MitigatedAnnual report
「In the first quarter of the fiscal year ending August 2022, sales turned to a recovery trend after priority preventive measures for COVID-19 in Kanagawa Prefecture were lifted on 22 March, and we expect this trend to continue.」
It states that sales turned to a recovery trend after the priority preventive measures were lifted, indicating that the impact of the infectious disease on operations and demand has eased from the previous fiscal year. - FY2022MitigatedAnnual report
「We believe that the direct impact of COVID-19 itself has almost subsided. However, because consumer preferences have changed, we assume that sales will not return to pre-COVID-19 levels and that a certain degree of impact will continue.」
While the company’s assessment has changed to indicate that the direct impact of the infectious disease has almost subsided, it states that a certain degree of impact from changes in consumer preferences will remain. - FY2022Continued failure to meet the full-year planAnnual report
「However, as the period of reluctance to go out was prolonged by the application of priority preventive measures from 20 April to 21 July 2021 and from 21 January to 21 March 2022, and the state of emergency from 2 August to 30 September 2021, sales at all stores fell below plan.」
Reluctance to go out resulting from multiple periods of priority preventive measures and states of emergency affected full-year performance, causing sales at all stores to fall below plan. - FY2022-Q3Recovery coexisting with failure to meet planAnnual report
「Although reluctance to go out eased after the state of emergency associated with COVID-19 was lifted, customer traffic did not return to pre-pandemic levels, and cumulative consolidated sales for the third quarter were below plan at all stores.」
Although reluctance to go out eased after the state of emergency was lifted, the recovery in customer traffic was insufficient, and cumulative sales at all stores fell below plan. - FY2022-Q2WorsenedAnnual report
「However, in addition to the impact of the renewed spread of COVID-19, including the continued application of priority preventive measures from 20 April 2021 and the reissuance of the state of emergency on 2 August 2021, which heightened the tendency to refrain from going out, lower customer traffic due to unsettled weather also contributed to cumulative second-quarter sales falling below plan at all stores.」
The continued priority preventive measures, the reissuance of the state of emergency on 2 August, reluctance to go out and unsettled weather prolonged the impact of the infectious disease, causing cumulative sales at all stores to fall below plan. - FY2022-Q1WorsenedAnnual report
「In the department store industry, actual results exceeded the previous year due to the rebound from the temporary closures and shortened operating hours caused by the state of emergency issued in response to the spread of COVID-19 in the previous year. However, difficult conditions have continued due to the impact of reduced customer traffic caused by requests to close stores associated with the application of priority preventive measures and the issuance of the third state of emergency, as well as reluctance to go out.」
Although results exceeded the previous year due to the rebound from the previous year’s temporary closures, requests to close stores and reduced customer traffic resulting from priority preventive measures and the third state of emergency have continued. - FY2021MaterialisedAnnual report
「However, group-wide sales were below plan at all stores, partly due to the issuance of two states of emergency in response to the spread of COVID-19, including temporary closures from 8 April to 26 May 2020, except for food floors, as well as continued reluctance to go out and shortened operating hours.」
Two states of emergency, temporary closures, reluctance to go out and shortened operating hours caused sales to fall below plan at all stores, resulting in full-year sales of ¥15,002 million. - FY2021-Q3WorsenedAnnual report
「The situation remains difficult amid continued reluctance to go out due to the spread of COVID-19.」
In contrast to the recovery trend described in the previous quarter following the resumption of operations, reluctance to go out and difficult industry conditions have continued. Due to the impact of the infectious disease, cumulative sales for the third quarter were below plan at all stores. - FY2021-Q2Partial recovery alongside the continuing impact of renewed infection spreadAnnual report
「Since the state of emergency was lifted, we have resumed operations throughout the stores while thoroughly implementing measures to prevent the spread of infection, although operating hours remain shortened. In food products, daily-use items performed well as the trend toward stay-at-home consumption continued, and both sales and customer traffic are showing signs of recovery.」
While sales and customer traffic began to recover after full-store operations resumed, reduced operating hours and measures to prevent the spread of infection continued, and the business impact of the infectious disease remained. - FY2021-Q1WorsenedAnnual report
「In the department store industry, sales declined sharply as companies were forced to restrict operations, including selling only essential goods, under the state of emergency declared in response to the spread of COVID-19.」
The impact of COVID-19 actually intensified and became apparent in the first quarter in the form of operating restrictions and a sharp decline in sales. - FY2020MaterialisedAnnual report
「Infectious diseases that may occur in Japan or overseas are the most significant risk of concern for the department store industry, as they may cause consumers to refrain from spending and undermine consumer sentiment. If these risks materialise, they could significantly disrupt the business activities of our group and adversely affect business performance and financial condition by reducing consumer demand, delaying the procurement of products due to supply chain disruptions, constraining employees’ working arrangements, including work-from-home and shift work, and causing temporary store closures or reduced operating hours.」
Infectious diseases were newly identified as the most significant risk of concern, with impacts including reduced demand, delays in product procurement, working restrictions and temporary store closures listed. The report states that events were in fact cancelled and stores temporarily closed.