Risks to Leasing, Sales and Financing from the Spread of COVID-19
First written in FY2020-Q1. 7 of 9 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2024: 2 of 7 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 described in the annual securities report for the previous consolidated fiscal year. However, the impact of the spread of COVID-19 remains subject to many uncertainties, and if real estate market conditions deteriorate further, the Group's financial position, operating results and cash flows may be materially affected by the recognition of valuation losses on inventories and impairment losses relating to its real estate holdings.」
Although no material changes were made to the accounting assumptions relating to COVID-19, the risk of inventory valuation losses and impairment losses if real estate market conditions deteriorate continues to be reported. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 described in the annual securities report for the previous consolidated fiscal year.」
It was reconfirmed that there were no material changes to the accounting-estimate assumptions and risk assessment relating to COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 described in the annual securities report for the previous consolidated fiscal year.」
It was stated that there were no material changes to the accounting-estimate assumptions and risk assessment relating to COVID-19. - FY2021-Q3RestatedAnnual report
「At the same time, close attention must be paid to developments in the pandemic in Japan and overseas, the rising downside risk from impacts transmitted through supply chains, and volatility in the financial and capital markets, among other factors; the situation remains unpredictable.」
It remains difficult to forecast the impact of COVID-19 on the economy and real estate markets. The current risk section states that there are no new risks and no material changes to the risks reported for the previous fiscal year. - FY2021-Q2RestatedAnnual report
「It remains difficult to forecast the impact of infection trends on the domestic and overseas economies and real estate markets.」
It remains difficult to forecast the impact of infection trends on the domestic and overseas economies and real estate markets. The risk section states that there are no new risks or material changes. - FY2021-Q1RestatedAnnual report
「As society and the economy gradually resume higher levels of activity while measures are taken to prevent the spread of infection, it remains extremely difficult to forecast the impact of infection trends on the domestic and overseas economies and real estate markets.」
Although the declaration of a state of emergency has been lifted, it remains difficult to forecast the impact of infection trends on the economy and real estate markets. The risk section states that there are no new risks or material changes. - FY2020-Q3RestatedAnnual report
「Although the COVID-19 situation has begun to settle somewhat, its impact on the economy remains significant, and the possibility of second and third waves of infections is a concern. Accordingly, it remains extremely difficult to forecast trends in the real estate market. If the spread continues for an extended period, the economic environment is expected to deteriorate further. In that event, the Group's financial position, operating results and cash flows may be materially affected by the recognition of valuation losses on inventories and impairment losses relating to its real estate holdings.」
Although the pandemic has shown signs of easing somewhat, the potential for a material impact from economic deterioration associated with a prolonged outbreak and second and third waves, as well as from inventory valuation losses and impairment losses, remains. - FY2020-Q2WorsenedAnnual report
「There are many uncertainties surrounding the impact of the spread of COVID-19, making it extremely difficult to forecast. Nevertheless, if the spread continues for an extended period, the economic environment is expected to deteriorate further. In that event, the Group's financial position, operating results and cash flows may be materially affected by the recognition of valuation losses on inventories and impairment losses relating to its real estate holdings.」
The potential for a material impact on the financial position, operating results and cash flows from inventory valuation losses and impairment losses if COVID-19 continues for an extended period was explicitly stated. - FY2020-Q1First statedAnnual report
「However, if the spread of COVID-19 continues for an extended period, economic activity is expected to stagnate or deteriorate as a result of declarations of a state of emergency and other measures by the Japanese government. In that event, the following business risks may arise. (1) Although the impact on the real estate leasing business is not yet clear, risks may arise from rent reductions caused by deteriorating tenant performance due to the closure of commercial facilities and a decline in visitors, as well as tenant bankruptcies. (2) In the real estate sales business, there may be a risk of declining real estate prices due to reduced investor appetite and deterioration in the financing environment caused by financial contraction.」
Assuming that COVID-19 continues for an extended period, the potential for commercial facility closures, fewer visitors, rent reductions, tenant bankruptcies, declining real estate prices and a deteriorating financing environment was disclosed in specific terms for the first time.