Cross-Cutting Impact of the Spread of COVID-19 on Business and Financial Performance
First written in FY2020. 6 of 11 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025ReframedAnnual report
「If a large-scale outbreak of an infectious disease such as COVID-19 occurs, restrictions on activities and stagnation of economic activity in Japan and overseas could lead to lower hotel occupancy rates at the group’s leasing business assets, rent reductions and tenant move-outs due to deteriorating tenant performance, and lower sales at company-operated stores, potentially affecting the group’s operating results and financial position.」
The risk framework was broadened from cross-business risks specific to COVID-19 to risks associated with infectious diseases generally, including COVID-19. - FY2024-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
It is stated that there are no new risks or material changes regarding the cross-business impacts of the spread of COVID-19. - FY2024-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative first quarter. In addition, there were no material changes to the securities report for the previous fiscal year.」
It is stated that there are no new risks or material changes regarding the cross-business impacts of the spread of COVID-19. - FY2023-Q3RestatedAnnual report
「There have been no material changes to the accounting estimate assumptions regarding the impact of the spread of COVID-19 described in the “Additional Information” section of the notes to the consolidated financial statements in the previous fiscal year’s annual securities report.」
It is stated that there have been no material changes to the accounting estimate assumptions regarding the impact of COVID-19 on the business and financial position. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the accounting estimate assumptions regarding the impact of the spread of COVID-19 described in the “Additional Information” section of the notes to the consolidated financial statements in the previous fiscal year’s annual securities report.」
It is stated that there have been no material changes to the accounting estimate assumptions regarding the impact of COVID-19 on the business and financial position. - FY2023-Q1RestatedAnnual report
「There have been no material changes to the accounting estimate assumptions regarding the impact of the spread of COVID-19 described in the “Additional Information” section of the notes to the consolidated financial statements in the previous fiscal year’s annual securities report.」
It is stated that there have been no material changes to the accounting estimate assumptions regarding the impact of COVID-19 on the business and financial position. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the accounting estimate assumptions regarding the impact of the spread of COVID-19 described in the “Additional Information” section of the notes to the consolidated financial statements in the previous fiscal year’s annual securities report.」
It is stated that there have been no material changes to the accounting estimate assumptions regarding the period and other aspects of the impact of COVID-19. - FY2021-Q3Change in the assumed period of accounting impactAnnual report
「The period over which COVID-19 was assumed to affect revenue and other items in the description of accounting estimates and the assumptions used for those estimates in the “Analysis of Financial Position, Operating Results and Cash Flows by Management” section of the previous fiscal year’s annual securities report has been changed.” “In making accounting estimates for impairment of fixed assets and the recoverability of deferred tax assets, our group has assumed, based on information available when preparing the consolidated financial statements, that the impact of COVID-19 on revenue and other items will continue until around the end of the current consolidated fiscal year.”」
The accounting estimate assumption regarding the period over which COVID-19 would affect revenue and other items was changed, with the impact assumed to continue until around the end of the current consolidated fiscal year. - FY2021-Q2MaterialisedAnnual report
「Revenue from the building business was ¥10.716 billion, up ¥67 million, or 0.6%, year on year, owing to rental income contributions from Solala Plaza (Sendai, Miyagi Prefecture), acquired in the previous fiscal year, and Kabutocho No. 7 Heiwa Building (Chuo-ku, Tokyo), acquired in the current fiscal year, despite a decrease in revenue due to the impact of COVID-19, among other factors.」
While the impact of COVID-19 continued to be reflected in actual results as lower revenue from the building business, rental revenue from acquired properties offset the decline. - FY2021-Q1MaterialisedAnnual report
「Revenue from the building business was ¥5.338 billion, up ¥21 million, or 0.4%, year on year, reflecting rental revenue contributed by Sorala Plaza (Sendai, Miyagi), acquired in the previous fiscal year, despite lower revenue from rental meeting rooms and other facilities due to the impact of COVID-19.」
The impact of COVID-19 was reflected in actual business performance as lower revenue from rental meeting rooms and other facilities. - FY2020First statedAnnual report
「We have determined that the spread of COVID-19 has created various risks. In the leasing business (building business), these include rent reductions and tenant move-out risks resulting from changes such as the diversification of work and lifestyles and deteriorating tenant performance; in real estate development, including the Nihombashi Kabutocho and Kayabacho redevelopment projects, risks of construction delays caused by infections at construction sites and changes to the timing of rent commencement due to delays in the occupancy of new tenants; in the real estate solutions business (asset management business), risks of declines in the selling prices of income-producing properties due to lower appetite for real estate investment and higher risk premiums; and, in terms of financial conditions, risks of a deterioration in the financing environment due to changes in financial institutions’ lending policies.」
The spread of COVID-19 was identified as a new major risk spanning the leasing, redevelopment, asset management and financing businesses.