Last-minute demand ahead of the consumption tax rate increase
First written in FY2020-Q2. 3 of 4 entries say "Restated". Latest entry: FY2021-Q2.
0 other companies' latest entry also says "Restated".
- FY2021-Q2RestatedAnnual report
「Although demand for food and other products in the department-store and shopping-center businesses has been recovering steadily, revenue declined due to reduced operating hours and temporary closures, as well as a negative reaction following the prior fiscal year's advance demand before the consumption tax rate increase.」
The negative reaction following advance demand before the consumption tax rate increase continues to be cited as a factor behind lower revenue in the retail business. - FY2020RestatedAnnual report
「The department-store business posted lower revenue due to unfavorable weather and the impact of the consumption tax rate increase, as well as a sharp decline in inbound tourists resulting from the spread of COVID-19, requests to refrain from going out, reduced operating hours and other factors that reduced the number of store visitors.」
The impact of the consumption tax rate increase continued to be cited as a performance factor, with a decline in store visitors due to the spread of COVID-19 added to the factors. - FY2020-Q3RestatedAnnual report
「In the railway business, despite the impact of the reduction in the additional fare on the Sagamihara Line implemented in October 2019, passenger transportation revenue increased 0.5% due to improvements in employment conditions and population growth along the railway lines, as well as advance purchases of commuter passes and other products before the consumption tax rate increase. Of this, commuter-pass revenue increased 1.4% and non-commuter-pass revenue decreased 0.2%. Revenue also increased due in part to higher seat-reservation fee revenue from Keio Liner.」
While advance purchases of commuter passes and other items before the consumption tax rate increase contributed to higher railway revenue, the report also describes lower revenue in the department-store business due to the impact of the tax rate increase. - FY2020-Q2First statedAnnual report
「In the railway business, passenger transportation revenue increased 1.9% due to improvements in employment conditions and population growth along the railway lines, as well as advance purchases of commuter passes and other products before the consumption tax rate increase. Of this, commuter-pass revenue increased 2.7% and non-commuter-pass revenue increased 1.4%. Revenue also increased due in part to higher seat-reservation fee revenue from Keio Liner.」
Advance purchases of commuter passes and other items before the consumption tax rate increase are described as a factor behind higher railway revenue, while advance demand is also cited as a factor behind higher revenue in the retail business.