Impact of the Spread of COVID-19 on Business Activities and Financial Performance
First written in FY2020-Q2. 6 of 14 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025ReframedAnnual report
「The Group operates purchasing and retail stores and has established response systems, made equipment-related preparations, provided employee training and education, and conducted regular drills in preparation for natural disasters including major earthquakes, severe typhoons, and floods, as well as fires and the spread of infectious diseases.」
The risk disclosure was reorganized from a description focused solely on COVID-19 into a general business continuity risk framework covering natural disasters, fires, and infectious diseases. - FY2023-Q3RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change in the assumptions underlying the accounting estimates concerning the effects of COVID-19. - FY2023-Q2RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change in the assumptions underlying the accounting estimates concerning the effects of COVID-19. - FY2023-Q1RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change in the assumptions underlying the accounting estimates concerning the effects of COVID-19. - FY2022RestatedAnnual report
「With respect to the effects of COVID-19, accounting estimates, including impairment accounting for property, plant and equipment and the recoverability of deferred tax assets, were made on the assumption that the effects would continue for a certain period beyond the current consolidated fiscal year.」
The assumption that the effects of COVID-19 would continue for a certain period remained in use in the accounting estimates. - FY2022-Q3RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change from the previous consolidated fiscal year in the accounting estimates concerning the effects of COVID-19. - FY2022-Q2RestatedAnnual report
「In the accounting estimates concerning the impact of the spread of COVID-19, there were no material changes to the assumptions described in the “Additional Information” section of the securities report for the previous consolidated fiscal year.」
It was stated that there had been no material change from the previous consolidated fiscal year in the accounting estimates concerning the effects of COVID-19. - FY2022-Q1MaterialisedAnnual report
「In the purchasing business, the number of customer interactions and the value of purchases declined as the number of COVID-19 infections surged from August through mid-September. However, from mid-September onward, customer interactions and the value of purchases recovered as the number of infections declined and the television commercials aired in September took effect.」
The surge in COVID-19 infections actually caused a decline in customer interactions and the value of purchases, but these recovered from mid-September onward as infections declined and the television commercials took effect. - FY2021WorsenedAnnual report
「For the current consolidated fiscal year, accounting estimates, including impairment accounting for property, plant and equipment and the recoverability of deferred tax assets, were made on the assumption that the effects would continue at least through the fiscal year ending August 2022.」
It was assumed that the effects of COVID-19 would continue at least through the fiscal year ending August 2022, and the potential for a material impact on the financial position, operating results, and cash flows from the following fiscal year onward was described. - FY2021-Q3MaterialisedAnnual report
「However, compared with the third quarter of the previous fiscal year, when a state of emergency was also in effect, purchases increased substantially, and we were able to secure purchases at a level comparable to the first quarter of the current fiscal year, which was unaffected by the state of emergency.」
Although up to 19 stores were closed because of the third declaration of a state of emergency, purchases increased from the same period of the previous fiscal year and were secured at a level comparable to the first quarter of the current fiscal year. - FY2021-Q2MaterialisedAnnual report
「Amid these conditions, restrictions on people's movement continued as COVID-19 spread, and customer traffic at purchasing stores remained sluggish. Although efforts were made to secure purchases by improving the conversion rate, customer traffic declined further as a result of the reissuance of the state of emergency from January, and the purchasing environment became difficult, with bullion prices also trending downward.」
Customer traffic declined because of the spread of COVID-19 and the reissuance of the state of emergency, and the impact on the purchasing environment continued. - FY2020MaterialisedAnnual report
「In particular, during the period from 18 April to 6 May, 59 of the 81 stores were closed, reducing the number of operating stores to 14 at なんぼや and BRAND CONCIER and 8 at 古美術八光堂, but all stores resumed operations from June.」
While 59 of the 81 stores were closed as a result of COVID-19, all stores resumed operations from June. - FY2020-Q3MaterialisedAnnual report
「The Group has been affected by a decline in purchases resulting from the closure of purchasing stores following the declaration of a state of emergency, the postponement of the Hong Kong auction, and the cancellation of THE EIGHT AUCTION events scheduled for March through June.」
Store closures following the declaration of a state of emergency, a decline in purchases, the postponement of the Hong Kong auction, and the cancellation of THE EIGHT AUCTION events scheduled for March through June actually occurred. At the same time, measures including working from home, online auctions, and online purchasing were being advanced. - FY2020-Q2MaterialisedAnnual report
「The global spread of COVID-19, which originated in Wuhan, Hubei Province, China, in December 2019, has affected the Group through the postponement of the Hong Kong auction, the cancellation of the March and April THE EIGHT AUCTION events, and a decline in domestic purchases due to requests to refrain from going out. Depending on how the situation develops, the Group's business activities and earnings may be affected.」
The postponement of the Hong Kong auction, cancellation of THE EIGHT AUCTION events, and decline in domestic purchases due to requests to refrain from going out were reported as having actually occurred as a result of the spread of COVID-19.