Declining Demand and Business Impact from COVID-19
First written in FY2020. 4 of 16 entries say "Mitigated", first in FY2023. Latest entry: FY2024.
Kyoritsu Maintenance moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 25 of 30 companies on the "Worse" side.
13 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「During the fiscal year, the impact of COVID-19 on economic activity had been almost eliminated, although」
The company stated that the impact of COVID-19 on economic activity had been almost eliminated, indicating that the impact had declined from earlier periods. - FY2024-Q3MitigatedAnnual report
「During the nine months ended in the third quarter of the fiscal year, the impact of COVID-19 on economic activity had been almost eliminated, although」
The company stated that the impact of COVID-19 on economic activity had been almost eliminated, indicating a reduction in the impact compared with earlier periods. - FY2024-Q1MitigatedAnnual report
「During the three months ended in the first quarter of the fiscal year, Japan’s economy was progressing toward normalization of economic activity following the reclassification of COVID-19 to Category 5, while」
The company stated that economic activity was progressing toward normalization following the reclassification of COVID-19 to Category 5. - FY2023MitigatedAnnual report
「Domestic travel and inbound demand are expected to expand as COVID-19 is reclassified to Category 5 and restrictions are eased. However, if the spread of infection leads to the reintroduction of entry or activity restrictions, this could affect the Group’s operating results and financial position.」
The company expected demand to expand following the reclassification to Category 5 and the easing of restrictions, while describing pandemic risk as a conditional risk involving the reintroduction of entry and activity restrictions if infections spread again. - FY2023-Q3Recovery progressing, concerns about the eighth waveAnnual report
「In addition to stronger domestic travel and inbound demand, tourism stimulus measures such as nationwide travel support contributed to a continued recovery trend in the hotel business, with occupancy and average room rates rising to levels close to those before the onset of COVID-19.」
The recovery trend in the hotel business continued on domestic travel, inbound demand and nationwide travel support, while another paragraph also cited concerns about soaring energy costs and an eighth wave of COVID-19. - FY2023-Q2Recovery trend continuing, uncertainty remainsAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy was moving toward normalization of social and economic activity as entry and activity restrictions related to the spread of COVID-19 were eased. However, the outlook remained uncertain, owing to factors including soaring energy costs and sharp exchange-rate fluctuations.」
The company stated that normalization of social and economic activity was progressing as entry and activity restrictions were eased, while uncertainty remained due to soaring energy costs and sharp currency fluctuations. - FY2023-Q1Recovery progressing, risk of renewed spread continuingAnnual report
「The Group was able to begin the fiscal year for the first time in 3 years without restrictions on activities. In particular, as many customers used its hotels during Golden Week, occupancy and average room rates recovered to levels close to those in the first quarter of the fiscal year ended March 2020, before the onset of COVID-19.」
Although hotel occupancy and average room rates recovered to levels close to those before the pandemic as the fiscal year began without restrictions on activities, the impact of a renewed spread of COVID-19 continued to be noted. - FY2022Impact continues, with signs of recoveryAnnual report
「There have begun to be some positive signs, including the holding of various events, the lifting of restrictions on activities, and the government’s easing of border-control measures for COVID-19 and resumption of acceptance of foreign tourists. However, the impact of COVID-19 involves many uncertainties and could affect the Group’s operating results and financial position.」
Although the risk from the pandemic remained an uncertainty, the company also cited new signs of recovery, including the holding of events, the lifting of restrictions on activities, and the easing of border-control measures. - FY2022-Q3WorsenedAnnual report
「More recently, the outlook has remained uncertain again as the number of COVID-19 cases has increased.」
The number of COVID-19 cases increased again, and uncertainty about the outlook continued. In the hotel business, there were also fewer new bookings and some cancellations. - FY2022-Q2Continuing impact, narrowing lossesAnnual report
「In addition, there have begun to be some positive signs, including the easing of domestic restrictions as the number of COVID-19 cases declined and moves to ease entry restrictions for business travelers and international students. The Group will work together to restore its operating performance.」
Although the impact of the pandemic and cumulative losses continued, the company described the decline in cases, easing of domestic restrictions, and moves to relax entry restrictions for business travelers and international students as positive signs. - FY2022-Q1Smaller losses despite the continuing impactAnnual report
「The Group’s businesses were substantially affected by the prolonged spread of COVID-19 and by measures to restrict the movement of people, including intermittent states of emergency declared by the national and local governments and quasi-emergency measures.」
The impact on the businesses from the prolonged pandemic and measures restricting the movement of people continued. Meanwhile, revenue for the quarter increased 25.6% year on year, and losses at each profit level narrowed from the year-earlier period. - FY2021WorsenedAnnual report
「The spread of COVID-19 continues to have a substantial impact on the Group’s business activities, particularly its hotel business, including through the intermittent issuance of states of emergency. However, the impact of COVID-19 involves many uncertainties and could affect the Group’s operating results and financial position.」
The impact of the pandemic continued throughout the fiscal year, leading to the reissuance of the state of emergency, lower demand, temporary closures and shutdowns, and a full-year loss. - FY2021-Q3WorsenedAnnual report
「Recently, uncertainty about the outlook has increased as various restrictions on activities have been strengthened in response to the renewed spread of COVID-19, and the Group has also been affected to some extent. However, there have been no material changes in the assessment of the recoverability of deferred tax assets or the determination of impairment losses. The impact of COVID-19 involves many uncertainties and could materially affect the Group’s financial position and operating results for the fiscal year.」
The impact continued as infections spread again and restrictions on activities were strengthened, increasing uncertainty about the outlook. For the nine months ended in the third quarter, revenue fell 31.4%, the operating loss was ¥3,744 million, and losses related to temporary closures and other measures totaled ¥2,886 million. - FY2021-Q2Continuing impact alongside recoveryAnnual report
「As a result, for the six months ended in the second quarter of the fiscal year, revenue was ¥56,250 million, down 40.0% year on year. Profitability reversed from the loss recorded in the first quarter, resulting in an operating loss of ¥4,486 million and an ordinary loss of ¥4,486 million.」
The impact of COVID-19 continued, resulting in a 40.0% decline in revenue and an operating loss of ¥4,486 million. On a standalone basis, however, the second quarter returned to profitability, and the company also described a recovery in hotel demand. - FY2021-Q1MaterialisedAnnual report
「As a result, consolidated results for the cumulative first quarter included net sales of ¥23,608 million, down 44.0% year on year; an operating loss of ¥4,521 million, compared with operating profit of ¥3,154 million in the year-earlier period; an ordinary loss of ¥4,805 million, compared with ordinary profit of ¥3,019 million; and a net loss attributable to owners of the parent of ¥6,423 million, compared with net income of ¥2,077 million.」
COVID-19 actually resulted in lower inbound, business travel and domestic leisure demand, lower hotel occupancy, and temporary closures, leading to a 44.0% decline in revenue and losses at each profit level. - FY2020First statedAnnual report
「As of 26 June 2020 (the filing date), the impact of COVID-19 was continuing and had a substantial effect on the business activities of the Group. Recovery in inbound demand could take one to one and a half years or longer. The Group expected to enter a recovery trend from October 2020 by launching measures, plans and services focused on sales to domestic customers. However, the impact of COVID-19 involves many uncertainties and could affect the Group’s operating results and financial position.」
COVID-19 actually resulted in temporary closures, a decline in inbound demand, lower domestic leisure and business demand, lower hotel occupancy, lower profit, and impairment losses. The company stated that recovery in inbound demand could take one to one and a half years or longer.