Impact on Business and Performance from the Spread of COVID-19
First written in FY2020-Q2. 7 of 12 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2023.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023MitigatedAnnual report
「The spread of COVID-19 showed signs of subsiding to some extent as it was reclassified as a Class 5 infectious disease under the Infectious Diseases Control Law and restrictions on daily activities were lifted, bringing socioeconomic activity toward normalization. However, a new wave of infections caused by a new variant could materially affect the Group’s businesses and performance, particularly Metsä.」
The transition to Class 5 under the Infectious Diseases Control Law and the lifting of restrictions on activity eased the risk of business restrictions due to the pandemic to some extent. However, the possibility of renewed spread due to a new variant remains. - FY2023-Q1MitigatedAnnual report
「Metsä, comprising Metsä Village and Moominvalley Park, was gradually returning to normal after the pandemic. However, because there were many rainy days on weekends and holidays in November, the month with the highest annual visitor numbers, visitor numbers fell 3.8% year on year to 210,000.」
The company stated that normalization from the pandemic was gradually progressing, and the impact of long-term operating restrictions due to the pandemic had eased to some extent. However, the impact of weather on visitor numbers remained. - FY2022Continued pandemic impact, with losses improvingAnnual report
「In the fiscal year ending September 2022, the segment loss improved by ¥467 million from the previous fiscal year to ¥34 million as a result of renovating Moominvalley Park in December 2021 to increase visitor numbers and reduce costs. However, if visitor numbers remain below the level anticipated by the Group for an extended period, this could materially affect the Group’s operating results and financial condition.」
The impact of the pandemic and restrictions on activity remained, and visitor numbers stood at 740,000, but the segment loss improved to ¥34 million through the renovation and cost reductions. - FY2022-Q2WorsenedAnnual report
「Metsä visitor numbers declined 4.1% from the previous second-quarter cumulative consolidated period because the impact of the pandemic continued, including the application of priority preventive measures from January through March 2022, and because of an 11-day closure for renovations.」
The impact of COVID-19 continued, and visitor numbers at Metsä fell 4.1% year on year due to priority preventive measures and the park closure. - FY2022-Q1Partial recovery despite the impact of park closuresAnnual report
「Although the closure of Moominvalley Park for renovations and other factors had an impact, steady performance in the investment banking business and elsewhere resulted in sales of ¥2,272 million, up 12.5% year on year.」
Although the impact of the renovation-related closure and other factors remained, consolidated sales increased 12.5% year on year due to progress in the investment banking business and elsewhere. - FY2021WorsenedAnnual report
「The impact continued over an extended period in 2021, including the issuance of a state of emergency due to the resurgence of COVID-19, and visitor numbers remained well below pre-pandemic levels.」
The impact of the pandemic extended into 2021, and low visitor numbers due to the state of emergency and other measures continued. Metsä recorded 740,000 visitors, and the segment loss of the business was ¥501 million. - FY2021-Q3WorsenedAnnual report
「As of the filing date of this quarterly report, some regions were subject to a state of emergency or priority preventive measures due to the spread of COVID-19. Saitama Prefecture, where Metsä operated by the Group is located, was also subject to a state of emergency from 2 to 31 August 2021. The company is monitoring the situation because persistently low visitor numbers could reduce sales and otherwise affect related businesses.」
As of the filing date, Saitama Prefecture, where Metsä is located, remained subject to a state of emergency from 2 to 31 August 2021, and persistently low visitor numbers and lower sales in related businesses continued to be expected. - FY2021-Q2WorsenedAnnual report
「Visitor numbers fell sharply in January 2021 during the second state of emergency. Although visitor numbers gradually recovered in February and March, they were down 24.9% from the cumulative second quarter of the previous fiscal year, resulting in Metsä-related sales of ¥1,301 million, down 37.1% year on year.」
The impact of COVID-19 continued and expanded as the second state of emergency reduced visitor numbers in January 2021, materializing in a 37.1% year-on-year decline in Metsä-related sales. As of the filing date, the company continues to monitor the possibility of persistently low visitor numbers due to the spread of the infection. - FY2021-Q1WorsenedAnnual report
「As of the date of submission of the quarterly report, a state of emergency had been declared in some prefectures in response to the spread of COVID-19, including Saitama Prefecture, where Metsä, operated by the Company Group, is located. Visitor numbers remained low compared with before the declaration, and the Company is monitoring the situation because related businesses are expected to be affected by factors such as lower revenue.」
The impact of COVID-19 has continued and expanded in the form of a reissued state of emergency, persistently low visitor numbers and the expected decline in sales in related businesses. - FY2020WorsenedAnnual report
「Revenue in the Entertainment Services business for the current consolidated fiscal year decreased by ¥1,102 million year on year to ¥4,304 million, while the segment loss worsened by ¥92 million to ¥515 million. The company recorded a ¥292 million loss from the temporary closure of the parks as an extraordinary loss.」
The impact of COVID-19 expanded to the prolonged closure of Metsä, cancellation of licensing events, closure of commercial facilities and delays to portfolio-company IPOs, and materialized as lower full-year sales, a segment loss and losses from temporary park closures. - FY2020-Q3WorsenedAnnual report
「Portfolio companies in certain industries have been affected, including by temporary closures. If investors adopt a more cautious investment stance, this could affect investment recoveries. The company plans to make new investments selectively in light of current economic conditions, but the number of restructuring investments may increase in the future.」
The impact of COVID-19 has spread to portfolio-company closures, potential effects on investment recoveries, selective new investments and the possible increase in restructuring investments. Metsä and the licensing business were also affected by prolonged park closures, event cancellations and commercial-facility closures. - FY2020-Q2First statedAnnual report
「The temporary closure of the parks and requests for people to refrain from going out reduced sales in the second quarter from the first quarter, and resulted in a ¥71 million extraordinary loss, among other impacts on business performance. As the closure period was longer in the third quarter than in the second quarter, segment profit and loss is expected to deteriorate from the second quarter.」
The company identified the spread of COVID-19 for the first time as an additional business risk. Temporary closure of Metsä, requests for people to refrain from going out, cancellation of licensing-related events, closure of commercial facilities and impacts on exit negotiations for investment projects occurred, and a ¥71 million extraordinary loss was recorded.