Business Interruption and Impact on Performance Due to COVID-19
First written in FY2020. 7 of 12 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025ReframedAnnual report
「Although social activity appears to have almost completely returned to normal 5 years after the global pandemic caused by the spread of COVID-19, in today's highly globalized world, the possibility of a global pandemic caused by a new infectious disease, together with the resulting disruption or stagnation of global economic activity, cannot be ruled out as a risk that may arise in the future.」
The risk assessment was revised from the recent business disruption risk caused by COVID-19 to the risk of disruption to economic activity caused by a new infectious disease pandemic in the future. - FY2024SoftenedAnnual report
「Although the impact of COVID-19, which lasted for approximately 3 years, has been eliminated from the Group's operating environment, entertainment options have diversified, and the pace of change in customer preferences and lifestyles is believed to be accelerating.」
The impact of COVID-19, which lasted for approximately 3 years, was considered to have been eliminated, weakening the environment surrounding business disruption risks compared with before. Meanwhile, changes in customer preferences and lifestyles were identified as a new operating environment challenge. - FY2024-Q1SoftenedAnnual report
「The classification of COVID-19 under the Infectious Diseases Control Law was changed to Category V, socioeconomic activity moved toward normalization, and signs of economic improvement were observed, while」
The filing described the change in the infectious disease classification and the normalization of socioeconomic activity, indicating that the environment surrounding business disruption risks, previously centered on operational suspensions and canceled performances caused by infectious diseases, was weakening. - FY2023-Q3MaterialisedAnnual report
「In the theater business, the first stage adaptation of Spirited Away was presented at the Imperial Theatre as a production commemorating Toho's 90th anniversary, and all seats sold out. The company subsequently undertook various initiatives, including performances nationwide and live streaming.」
While operations continued under measures to prevent the spread of infection and activities such as cinemas and theater resumed, the same filing continued to report the cancellation of some productions, indicating that the impact of infectious diseases remained. - FY2022Risks expected to continue and gradually decreaseAnnual report
「The possibility that these risks will materialize is expected to remain to some extent until COVID-19 is brought under control. However, the risks are expected to gradually decrease as thorough infection-prevention measures are implemented and society adopts policies aimed at balancing infection control with socioeconomic activity.」
While the risks of production delays, release postponements and canceled performances due to infectious diseases continued to be treated as material risks, the company indicated that they were expected to gradually decrease as infection-prevention measures were balanced with socioeconomic activity. - FY2022-Q3MaterialisedAnnual report
「As states of emergency continued to be declared, the Group, based on the policies and requests of local authorities, suspended or shortened operating hours at cinemas in the affected areas, canceled theatrical performances and processed refunds, and suspended operations at commercial facilities. It also changed the release schedules for distributed films in light of the infection situation. Even after the state of emergency was lifted on 30 September 2021, the Group continued operations while implementing appropriate infection-prevention measures.」
The repeated states of emergency led to continued closures of cinemas and commercial facilities, cancellations of and refunds for theatrical performances, and changes to film release schedules. After the declaration was lifted on 30 September, the Group continued operations with infection-prevention measures in place. - FY2022-Q2MaterialisedAnnual report
「As states of emergency continued to be declared, the Group, based on the policies and requests of local authorities, suspended or shortened operating hours at cinemas in the affected areas, canceled theatrical performances and processed refunds, and suspended operations at commercial facilities. It also changed the release schedules for distributed films in light of the infection situation.」
The repeated states of emergency resulted in continued closures of cinemas and commercial facilities, cancellations of and refunds for theatrical performances, and changes to film release schedules. - FY2022-Q1MaterialisedAnnual report
「On 23 April 2021, a state of emergency was declared for Tokyo, Osaka, Hyogo and Kyoto, and the period was subsequently extended while the areas covered were expanded. Based on the policies and requests of local authorities, the Group suspended or shortened operating hours at cinemas in the affected areas, canceled theatrical performances and processed refunds, and suspended operations at commercial facilities. It also changed the release schedules for distributed films in light of the infection situation.」
The repeated declarations and extensions of the state of emergency, together with the expansion of the areas covered, led to continued suspension of operations at cinemas and commercial facilities, cancellation of and refunds for theatrical performances, and changes to film release schedules. - FY2021-Q3MaterialisedAnnual report
「Against this backdrop, the Group was forced to postpone the release of distributed films and cancel theatrical performances, and faced an unprecedented situation in which theaters nationwide were forced to close simultaneously following the state of emergency declaration. After the declaration was lifted, the Group responded to changes in the operating environment and gradually resumed operations after implementing appropriate infection-prevention measures based on guidelines from the government, local authorities and relevant organizations. However, the effects of restrictions on ticket sales and postponements of Japanese and foreign film releases continued, and the challenging operating environment persisted, including the cancellation of some theatrical performances due to the spread of COVID-19.」
Even after operations resumed, restrictions on ticket sales, postponements of film releases, and cancellations of some theatrical performances continued, and the impact of the infectious disease on the business remained evident. - FY2021-Q2MaterialisedAnnual report
「Against this backdrop, the Group was forced to postpone the release of distributed films and cancel theatrical performances, and, following the state of emergency declaration, suspended operations at theaters and commercial facilities nationwide. After the declaration was lifted, it gradually resumed operations after implementing appropriate infection-prevention measures based on guidelines from the government, local authorities and relevant organizations.」
The postponements of film releases, cancellations of theatrical performances, and suspension of operations at facilities nationwide continued into the second quarter, after which operations resumed with infection-prevention measures in place. - FY2021-Q1MaterialisedAnnual report
「Against this backdrop, the Group experienced postponements of distributed film releases and cancellations of theatrical performances. In response to the spread of infection and various requests from the government and local authorities, it temporarily closed some theaters and commercial facilities and reduced operating hours from March onward. After the government's state of emergency declaration was expanded nationwide in April, it suspended operations at theaters and commercial facilities throughout Japan.」
Postponements of film releases, cancellations of theatrical performances, and closures of theaters and commercial facilities due to the infectious disease actually occurred and affected operating performance and cash flows. - FY2020First statedAnnual report
「The spread of infectious diseases, including COVID-19, may materially affect the Group's financial position, operating results and cash flows through delays in the production of films scheduled for release and postponements of releases, cancellation of theatrical performances, temporary closures of cinemas, theaters and commercial facilities across Japan visited by large numbers of customers, and temporary rent reductions for major tenants of real estate properties or unexpected tenant departures.」
The filing separately identified postponements of film releases, cancellations of theatrical performances, facility closures, rent reductions and tenant departures due to infectious disease outbreaks as new risks, while the impact of canceled performances and suspended operations had already occurred in this filing.