Risk of business continuity disruption and declining demand due to COVID-19
First written in FY2020. 10 of 15 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024-Q3.
0 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「In the passenger shipping business, passenger numbers for restaurant boats in the sightseeing boat operations at Yokohama Port increased and revenue rose, partly due to wage increases and the easing of restrictions related to COVID-19.」
The increase in sightseeing boat passengers due to the easing of restrictions related to the infectious disease and a rebound from demand restraints has reduced the demand decline risk in the passenger shipping business from the previous fiscal year. However, demand remains sluggish for car ferries and the concession and restaurant businesses. - FY2024-Q2MitigatedAnnual report
「In the passenger shipping business, tourists began to return and revenue increased due to wage increases, including the base-pay increase in this year's spring labor-management negotiations, the easing of COVID-19-related restrictions, and a rebound from the previous restraints.」
As restrictions related to the infectious disease were eased and tourists began to return in a rebound from the previous demand restraints, revenue in the passenger shipping business increased 20.1% year on year. The impact of the decline in demand caused by the infectious disease has been partially alleviated. - FY2024-Q1MitigatedAnnual report
「In the passenger shipping business, tourists began to return and revenue increased due to wage increases, including the base-pay increase in this year's spring labor-management negotiations, the easing of COVID-19-related restrictions, and a rebound from the previous restraints.」
As restrictions related to the infectious disease were eased and tourists began to return in a rebound from the previous demand restraints, revenue in the passenger shipping business increased. The impact of the decline in demand caused by the infectious disease has been partially alleviated. - FY2023MitigatedAnnual report
「The environment surrounding the group's passenger shipping business was affected by reputational damage from the sightseeing boat sinking accident in April 2022 and the temporary closure of the Yamashita Park boarding and disembarkation facility, and passenger numbers did not reach pre-pandemic levels.」
Revenue in the passenger shipping business increased from the previous fiscal year as infections declined and requests for people to refrain from activities were lifted, partially alleviating the decline in demand. However, passenger numbers remained below pre-pandemic levels due to reputational damage from the accident, closure of the boarding and disembarkation facility, and bad weather, among other factors. - FY2023-Q3MitigatedAnnual report
「In the passenger vessel business, revenue increased due to a rebound from the previous fiscal year, which was heavily affected by COVID-19, but revenue has not reached pre-pandemic levels because of reputational damage from the sightseeing vessel sinking in April 2022 and the effects of poor weather.」
Revenue in the passenger shipping business increased as a rebound from the substantial decline in demand caused by the COVID-19 pandemic in the previous fiscal year, and the decline in demand caused by the infectious disease was partially alleviated. However, revenue remained below pre-pandemic levels, and the impact persists. - FY2023-Q2MitigatedAnnual report
「In the passenger vessel business, revenue increased due to a rebound from the previous fiscal year, which was heavily affected by COVID-19, but revenue has not reached pre-pandemic levels because of reputational damage from the sightseeing vessel sinking in April 2022 and the effects of poor weather.」
Revenue in the passenger shipping business increased as a rebound from the impact of COVID-19 in the previous fiscal year, and the decline in demand caused by the infectious disease was partially alleviated. However, revenue did not reach pre-pandemic levels, and the impact on demand remains. - FY2023-Q1MitigatedAnnual report
「Revenue in the passenger shipping business increased as COVID-19 infections declined, requests for people to refrain from activities were lifted, and the effects of the prefectural resident discount tourism campaign and the fare revisions introduced in April contributed to revenue.」
Demand in the passenger shipping business recovered as infections declined and requests for people to refrain from activities were lifted, while the prefectural resident discount campaign and fare revisions also contributed to higher revenue. However, the company also states that its businesses have not reached pre-pandemic levels, so the impact has not been fully eliminated. - FY2022MitigatedAnnual report
「The number of passengers in the group's passenger shipping business is recovering from the substantial decline caused by states of emergency issued during the COVID-19 pandemic and prolonged priority preventive measures, but the situation remains such that it will take time to return to pre-pandemic levels.」
Passenger numbers in the passenger shipping business are recovering, easing the substantial decline in revenue in the previous fiscal year. However, the company states that returning to pre-pandemic levels will take time, and the impact continues. - FY2022-Q2MitigatedAnnual report
「Revenue in the passenger shipping business increased due to the rebound from the impact of COVID-19 in the previous fiscal year, but it did not reach the level of the fiscal year before last.」
Revenue in the passenger shipping business increased 18.4% year on year, improving from the substantial decline in revenue in the previous fiscal year. However, demand remained sluggish due to the impact of the infectious disease, and operating loss was ¥305 million, so revenue did not reach the level of the fiscal year before last. - FY2022-Q1MitigatedAnnual report
「In the passenger shipping business, a state of emergency was declared in the first quarter of the previous fiscal year due to the spread of COVID-19, and passenger numbers fell substantially. In the first quarter of the current fiscal year, passenger numbers remained sluggish, but some passengers began to return, resulting in higher revenue.」
Demand for passenger shipping remained sluggish due to COVID-19, but some passengers began to return and revenue in the passenger shipping business increased 80.6% year on year. Although the impact continued, it was partially alleviated from the substantial loss of demand in the year-earlier quarter. - FY2021WorsenedAnnual report
「The passenger shipping business is in a serious situation due to a substantial decline in passengers, and a full recovery is expected to take considerable time.」
The outlook for the decline in passengers in the passenger shipping business has deteriorated from the previous explanation that recovery had not been achieved through the prior quarter to an expectation that a full recovery will take considerable time. For accounting purposes, the company has also assumed that the impact would continue to a certain extent in fiscal 2021. - FY2021-Q3RestatedAnnual report
「Meanwhile, in the passenger vessel business, the summer demand season remained severely depressed as the spread of COVID-19 coincided with unsettled weather. Although the GO TO campaign began to have an effect in September, it was not enough to make up for the substantial decline in revenue in the first quarter.」
The slump in demand for passenger shipping caused by the spread of COVID-19 has continued. Although measures to stimulate tourism demand have begun to have an effect, a full recovery has not yet been achieved. - FY2021-Q2WorsenedAnnual report
「The number of vessels entering and leaving ports continued to decline due to the contraction of global economic activity, and there were still no signs of recovery. Accordingly, based on available external information and other factors, the company estimated the recoverability of deferred tax assets on the assumption that the impact would continue from the fiscal year ending March 2022 onward.」
The assumption that the impact of COVID-19 and other factors on maritime logistics would continue from the fiscal year ending March 2022 onward was reflected in the estimate of the recoverability of deferred tax assets. The outlook for the continuing impact has also affected accounting estimates. - FY2021-Q1MaterialisedAnnual report
「The passenger shipping business suffered a substantial decline in revenue as it was severely affected by the spread of COVID-19.」
The spread of COVID-19, states of emergency, and requests for people to refrain from going out led to sightseeing boat service suspensions, the disappearance of passenger demand, and service suspensions and reduced sailings for car ferries. Revenue in the passenger shipping business decreased 69.5% year on year. - FY2020First statedAnnual report
「The risks associated with business continuity in the event of COVID-19 and other infectious diseases include the risk of damage to human and physical resources, as with business continuity risks caused by large-scale natural disasters and other events.」
COVID-19 is identified for the first time as a standalone business continuity risk. In the passenger shipping business, service suspensions, passenger self-restraint, and declining revenue have already occurred.