Smaller Funerals and Cancellations or Postponements of Large-Scale Funerals Due to COVID-19
First written in FY2020. 4 of 14 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2024.
4 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「The group has been affected by the COVID-19 pandemic, mainly through smaller funerals resulting from fewer attendees, but funeral service prices have shown signs of recovery since the previous consolidated fiscal year.」
We continue to believe that the impact of COVID-19 on business performance has become limited compared with the past few years, due to the normalization of socioeconomic activity and a recovery in service unit prices. - FY2024-Q3MitigatedAnnual report
「Approximately 4 years have passed since the spread of COVID-19 began around mid-February 2020. In Japan, efforts to live with COVID-19 have advanced, and socioeconomic activity has begun moving in earnest toward normalization. The group has been affected by the pandemic, mainly through smaller funerals resulting from fewer attendees, but funeral service prices have shown signs of recovery since the previous consolidated fiscal year.」
Against the backdrop of normalized socioeconomic activity and a recovery in funeral service prices, the company continues to assume that the impact of COVID-19 on performance will be limited compared with the previous approximately 4 years. - FY2024-Q2MitigatedAnnual report
「Approximately 3 years have passed since the spread of COVID-19 began around mid-February 2020. In Japan, efforts to live with COVID-19 have advanced, and socioeconomic activity has begun moving in earnest toward normalization. The group has been affected by the pandemic, mainly through smaller funerals resulting from fewer attendees, but funeral service prices have shown signs of recovery since the previous consolidated fiscal year.」
Against the backdrop of normalized socioeconomic activity and a recovery in funeral service prices, the company maintained its assumption that the impact of COVID-19 during the fiscal year ending March 2024 would be limited compared with the previous 3 years. - FY2024-Q1SoftenedAnnual report
「In light of these changes in circumstances, the group is making accounting estimates, including whether impairment losses on fixed assets should be recognized and whether deferred tax assets are recoverable, based on the assumption that the impact of COVID-19 during the fiscal year ending March 2024 will be limited compared with the previous 3 years.」
The assumption regarding COVID-19's impact on performance has been moderated to reflect that the impact during the fiscal year ending March 2024 will be limited compared with the previous 3 years. At the same time, the company continues to disclose the possibility of an impact if actual conditions diverge from the assumption. - FY2023-Q3RestatedAnnual report
「Based on the assumption that the impact on performance will continue through the end of the fiscal year ending March 2023, the group is making accounting estimates, including whether impairment losses on fixed assets should be recognized and whether deferred tax assets are recoverable.」
Although there was no clear outlook for COVID-19 to subside, the company maintained from the previous quarter its assumption that the impact on performance would continue through the end of the fiscal year ending March 2023. - FY2023-Q2RestatedAnnual report
「Based on the assumption that the impact on performance will continue through the end of the fiscal year ending March 2023, the group is making accounting estimates, including whether impairment losses on fixed assets should be recognized and whether deferred tax assets are recoverable.」
The company continued from the previous quarter to state that there was no clear outlook for the infection to subside and that the impact on performance was expected to continue through the end of the fiscal year ending March 2023. - FY2023-Q1WorsenedAnnual report
「Based on the assumption that the impact on performance will continue through the end of the fiscal year ending March 2023, the group is making accounting estimates, including whether impairment losses on fixed assets should be recognized and whether deferred tax assets are recoverable.」
The assumption was extended to reflect that the impact of COVID-19 on performance would continue through the end of the fiscal year ending March 2023. The company also stated that there was still no clear outlook for the infection to subside. - FY2022-Q3WorsenedAnnual report
「In late November, the global spread of a new highly transmissible variant was confirmed, and infections then surged nationwide in Japan around the start of the new year. Because infections were spreading extremely rapidly, concerns arose over pressure on the medical system and disruption to the maintenance of social functions. In this situation, it remained difficult to reliably forecast future waves of infection and when they would subside.」
After the fifth wave subsided, the global spread of a new variant and a rapid increase in infections in Japan were confirmed, and it remained difficult to forecast future waves of infection and when they would subside. The company maintained its assumption that the impact on performance would continue through the end of the fiscal year ending March 2022. - FY2022-Q2Impact continues as the fifth wave subsidesAnnual report
「Based on the assumption that the impact on performance will continue through the end of the fiscal year ending March 2022, the group is making accounting estimates, including whether impairment losses on fixed assets should be recognized and whether deferred tax assets are recoverable.」
Although the fifth wave subsided from mid-August 2021 and the state of emergency was lifted on 30 September, it remained difficult to forecast future waves of infection and when they would subside, and the company maintained its assumption that the impact on performance would continue through the end of the fiscal year ending March 2022. - FY2022-Q1Funeral operations and performance recover while the impact continuesAnnual report
「While a recovery in the scale of funerals is not easy while the infection continues, the company is finding ways to conduct funerals that ensure safety and peace of mind.」
Although smaller funerals and the impact on performance are expected to continue through the end of the fiscal year ending March 2022, the company is advancing funeral operations that ensure safety and peace of mind, and large-scale funerals and overall performance have begun to recover. - FY2021-Q3Impact continues under the third wave, with signs of recovery in the third quarterAnnual report
「During the October–December quarter, the so-called third wave of COVID-19 spread nationwide from November onward under measures aimed at stimulating demand for tourism and dining. The numbers of infected and seriously ill people continued to rise through the end of December, placing increasing strain on the medical system. The funeral services industry was also significantly affected, with funerals becoming smaller as attendees declined amid precautions to prevent infection, resulting in substantial declines in revenue from funeral services themselves and related services such as catering, memorial offerings and return gifts.」
As infections spread nationwide during the third wave, smaller funerals and substantial declines in revenue from core and related services continued. At the same time, the company also stated that a notable recovery in performance was seen in the third quarter, mainly at Kōekisha's operations in the Tokyo metropolitan area. - FY2021-Q2WorsenedAnnual report
「The impact on performance is expected to remain at least through the end of the consolidated fiscal year.」
The company explicitly stated its accounting assumption that the impact of COVID-19 would remain at least through the end of the consolidated fiscal year, indicating the expected duration of the impact. - FY2021-Q1WorsenedAnnual report
「Since around mid-February 2020, the group has been affected by the spread of COVID-19, including (1) smaller general funerals due to fewer attendees and (2) the cancellation or postponement of company funerals and memorial services. This risk may continue to affect the group's performance until the infection is brought under control and these effects are resolved.」
The effects of the COVID-19 pandemic continued, with smaller general funerals and cancellations and postponements of large-scale funerals further quantified as lower revenue and lower profit in the first quarter. For accounting purposes, the company assumed a stagnation period through September 2020 and a recovery period from October to December. - FY2020First statedAnnual report
「Since around mid-February 2020, the group has been affected by the spread of COVID-19, including (1) smaller general funerals due to fewer attendees and (2) the cancellation or postponement of company funerals and memorial services. This risk may continue to affect the group's performance until the infection is brought under control and these effects are resolved.」
Since mid-February 2020, fewer attendees and smaller general funerals, as well as cancellations and postponements of company funerals and memorial services, have actually occurred. The company estimated the impact on general funeral service revenue at approximately ¥40 million for February and ¥70 million for March at Kōekisha, and approximately ¥5 million for March at Tarui. It also disclosed approximately ¥100 million in contracted amounts affected by cancellations and postponements of company funerals and memorial services, and opportunity losses of approximately ¥20 million to ¥30 million from joint funerals.