Impact of COVID-19 on Business Operations and Results
First written in FY2020. 7 of 14 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2026-H1.
Sun Frontier Fudousan moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2024: 2 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no material changes in the occurrence of major risks that management recognizes may materially affect the financial position, operating results or cash flows of the consolidated companies, among the matters relating to the business and financial conditions described in this interim report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The Company states that there have been no material changes in the risk of the infectious disease affecting operations and performance. - FY2024-Q3MitigatedAnnual report
「In the hotel operations business, tourism demand increased further as domestic and inbound tourism recovered, partly due to the nationwide travel assistance program and the reclassification of COVID-19 as a Class 5 infectious disease. Sales increased year on year, and the business returned to profitability.」
Hotel demand increased following the reclassification of COVID-19 as a Class 5 infectious disease and the recovery in domestic and inbound tourism, bringing the hotel operations business into the black. The effects of the infectious disease on operations and performance eased further. - FY2024-Q2MitigatedAnnual report
「In the hotel operations business, tourism demand increased further as domestic and inbound tourism recovered, partly due to the nationwide travel assistance program and the reclassification of COVID-19 as a Class 5 infectious disease. Sales increased year on year, and the business returned to profitability.」
Hotel demand increased following the reclassification of COVID-19 as a Class 5 infectious disease and the recovery in domestic and inbound tourism, bringing the hotel operations business into the black. The deterioration in operations caused by the infectious disease eased. - FY2024-Q1MitigatedAnnual report
「Against a backdrop of increased travel demand driven by the nationwide travel assistance program and the recovery in inbound tourism, sales increased year on year and the Company returned to profitability.」
The hotel operations business, which had languished since the spread of the infectious disease, saw sales increase and returned to profitability against a backdrop of the nationwide travel assistance program and the recovery in inbound tourism. The effects of the infectious disease are easing. - FY2023MitigatedAnnual report
「Based on the Group's high-value-added strategy, occupancy rates and room rates continued to rise. As a result, sales increased and the Company returned to profitability compared with the previous fiscal year.」
Hotel demand recovered against a backdrop of eased restrictions, the nationwide travel assistance program and the lifting of the ban on individual travel from overseas, bringing the hotel and tourism business into the black. Although the effects of the infectious disease remain, they are easing. - FY2023-Q3MitigatedAnnual report
「In the hotel operations business, which has been significantly affected by the COVID-19 pandemic, demand continued to increase as restrictions on economic and social activity were eased, and sales continued to recover. From October, the launch of the nationwide travel assistance program, which promotes domestic tourism, and the lifting of the ban on individual travel from overseas further improved the outlook for the business environment.」
Hotel demand and sales continued to recover as restrictions were eased, while the nationwide travel assistance program and the lifting of the ban on individual travel from overseas were cited as additional recovery factors. Although the effects of the infectious disease remain, their impact on operations is easing. - FY2023-Q2MitigatedAnnual report
「In the hotel operations business, which has been significantly affected by the COVID-19 pandemic, demand continued to increase as restrictions on economic and social activity were eased, and sales continued to recover. From October, the launch of the nationwide travel assistance program, which promotes domestic tourism, and the lifting of the ban on individual travel from overseas further improved the outlook for the business environment.」
Hotel demand and sales continued to recover as restrictions were eased, while the nationwide travel assistance program and the lifting of the ban on individual travel from overseas were also cited as recovery factors. Although the effects of the infectious disease remain, they were described as easing compared with the previous quarter. - FY2023-Q1MitigatedAnnual report
「In the hotel operations business, which has been significantly affected by the COVID-19 pandemic, revenue is recovering against a backdrop of increased demand as restrictions on economic and social activity have been eased.」
Although the impact of COVID-19 on hotel operations continued, revenue began to recover as demand increased following the easing of restrictions on economic and social activity. - FY2022-Q2MaterialisedAnnual report
「The hotel operations business, which has been significantly affected by the COVID-19 pandemic, continued to record a loss during the fiscal year due to the impact of the state of emergency declaration and the opening costs of newly opened hotels.」
The impact of COVID-19 continued in the hotel operations business, leading to depressed occupancy rates and room rates and the recognition of losses due to the state of emergency declaration and restrictions on tourism. The disclosure also notes rising office vacancy rates in the real estate market and limited demand for rental meeting rooms. - FY2022-Q1MaterialisedAnnual report
「During the fiscal year, occupancy rates and room rates, particularly at urban hotels, remained significantly depressed due to the sharp decline in inbound visitors during the COVID-19 pandemic and restrictions on tourism following the declaration of a state of emergency. The Company also recognized pre-opening expenses for newly opened hotels, and consequently recorded a loss for the fiscal year despite an increase in revenue.」
The impact of COVID-19 continued to affect hotel operations, with occupancy rates and room rates remaining depressed due to the decline in inbound visitors and restrictions on tourism, resulting in losses in the hotel and tourism businesses. - FY2021MaterialisedAnnual report
「During the consolidated fiscal year, the impact of the spread of infection on the Company's group businesses included some deterioration in office market conditions due to the economic slowdown and a decline in investor sentiment toward investment in the core real estate revitalization business. In the hotel operations business, occupancy rates fell significantly and operations were forced to suspend due to the disappearance of inbound tourism demand and weak domestic tourism demand. In the rental meeting-room business, the Company was also affected by a decline in demand for training, seminars and other events.」
The impact of COVID-19 materialized across multiple businesses in the form of deterioration in real estate market conditions and investor sentiment, lower hotel occupancy rates and temporary closures, and reduced demand for rental meeting rooms. - FY2021-Q3MaterialisedAnnual report
「Occupancy rates fell significantly amid the sharp decline in inbound visitors during the COVID-19 pandemic, the closure of visitor attractions and cancellation of events, and restrictions on travel for tourism as well as business trips.」
The impact of reduced hotel demand from COVID-19 continued, and hotel occupancy rates fell significantly. Office vacancy rates rose and rents declined at the same time. - FY2021-Q1MaterialisedAnnual report
「The sharp decline in inbound visitors and the closure of tourist facilities, including scenic and historic sites and theme parks, forced 7 hotels to close temporarily, while occupancy rates also fell significantly at hotels that continued operating.」
The impact of reduced hotel demand from COVID-19 continued, resulting in the temporary closure of 7 hotels and a significant decline in occupancy rates at operating hotels. Rent arrears and rent waivers due to hotel closures also occurred. - FY2020First statedAnnual report
「Response to COVID-19 and its principal impact on the business」
The Company first identified COVID-19 as a standalone risk and impact item. Approximately 20% of tenants requested rent reductions or waivers or applied to terminate their leases, and 7 hotels were temporarily closed due to the sharp decline in inbound visitors and other factors. Occupancy rates also fell significantly at hotels that remained open. The Company disclosed the possibility that, if the spread of infection did not subside, real estate market conditions would deteriorate, hotel occupancy rates would remain depressed, and the following fiscal year's results and financial position would be affected.