Decline in visitors due to COVID-19 and funding needs
First written in FY2020. 9 of 17 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2025.
5 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual report
「Because we accommodate guests from throughout Japan and around the world, we may be affected by disease and infectious diseases, natural disasters, war, terrorism and other events.」
The Business and Other Risks section describes general risks such as illness and infectious diseases, but this filing does not contain separate wording referring to a decline in visitors or the need for financing due to COVID-19. - FY2025-H1RestatedAnnual report
「During the interim accounting period under review, there were no new major risks that management recognizes could have a material impact on the financial condition, operating results or cash flows of the filing company, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It states that there have been no material changes in the major risks, including the decline in visitors and financing risk related to COVID-19. - FY2024-Q2MitigatedAnnual report
「For the cumulative second quarter, the company posted operating profit of ¥351 million and quarterly net profit of ¥271 million, while operating activities generated cash flow of ¥616 million.」
The company posted operating profit of ¥351 million, quarterly net profit of ¥271 million and cash flow from operating activities of ¥616 million in connection with the impact of COVID-19 on visitor numbers and business performance, representing an improvement from the loss and cash outflow recorded in the same period of the previous year. - FY2024-Q1MitigatedAnnual report
「As a result of factors including the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5, performance improved significantly compared with the same period of the previous fiscal year and is clearly on a recovery trend.」
It states that performance improved significantly against the backdrop of the transition of COVID-19 to a Category V disease, among other factors, and that the impact, primarily from fewer visitors and operating restrictions, has eased. However, uncertainty in the business environment remains. - FY2023MitigatedAnnual report
「Meanwhile, in October 2022, the Company refinanced part of the short-term borrowings raised in October 2020 by changing them to long-term borrowings maturing in March 2025. The Company determined that there are no concerns regarding liquidity for the foreseeable future and that no material uncertainty exists regarding the going-concern assumption.」
Although the risk of lower visitor numbers and funding difficulties due to COVID-19 remains, the Company stated its determination that there are no concerns regarding liquidity for the foreseeable future as a result of the refinancing. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter, the Company recorded an operating loss of ¥111 million. Although performance was improving compared with the same period of the previous fiscal year, events or conditions that could raise substantial doubt about the going-concern assumption exist because uncertainty in the business environment remains due to the effects of COVID-19. However, by steadily implementing the measures described under "Business and Other Risks" in the securities report for the previous fiscal year, the Company determined that there are no concerns regarding liquidity for the foreseeable future and that no material uncertainty exists regarding the going-concern assumption.」
Although uncertainty in the business environment due to COVID-19 remains, the operating loss narrowed from ¥1,495 million in the same period of the previous fiscal year to ¥111 million, and the Company continues to determine that there are no concerns regarding liquidity for the foreseeable future. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter, the Company recorded an operating loss of ¥428 million and a quarterly net loss of ¥298 million. Although performance was improving compared with the same period of the previous fiscal year, events or conditions that could raise substantial doubt about the going-concern assumption exist because uncertainty in the business environment remains due to the effects of COVID-19. However, by steadily implementing the measures described under "Business and Other Risks" in the securities report for the previous fiscal year, the Company determined that there are no concerns regarding liquidity for the foreseeable future and that no material uncertainty exists regarding the going-concern assumption.」
Performance improved year on year, with the operating loss narrowing to ¥428 million and the quarterly net loss to ¥298 million. Meanwhile, although the Company stated that events that could raise substantial doubt about the going-concern assumption remain, it determined that there are no concerns regarding liquidity for the foreseeable future as a result of its measures. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter, the Company recorded an operating loss of ¥131 million and a quarterly net loss of ¥38 million. Although performance was improving compared with the same period of the previous fiscal year, events or conditions that could raise substantial doubt about the going-concern assumption exist because uncertainty in the business environment remains due to the effects of restrictions on activities in response to COVID-19. However, by steadily implementing the measures described under "Business and Other Risks" in the securities report for the previous fiscal year, the Company determined that there are no concerns regarding liquidity for the foreseeable future and that no material uncertainty exists regarding the going-concern assumption.」
Although uncertainty in the business environment due to COVID-19 remains, losses narrowed to an operating loss of ¥131 million and a quarterly net loss of ¥38 million, and the Company continues to determine that there are no concerns regarding liquidity for the foreseeable future as a result of implementing its measures. - FY2022MitigatedAnnual report
「The Company also experienced a sharp decline in visitor numbers from February 2020 onward due to repeated cancellations of accommodation and banquet bookings and requests to refrain from operating. Severe conditions continued thereafter, owing to repeated declarations of a state of emergency prompted by the resurgence of COVID-19 infections. Against this backdrop, the Company recorded substantial losses in the current fiscal year, as it had in the previous fiscal year. In terms of funding, amid the difficult outlook that a considerable amount of time would be required for performance to recover, the Company received ¥520 million from the transfer of fixed assets (Awata Sanso) in July 2021 and raised ¥1,000 million through the issuance of Class A preferred shares by way of a third-party allotment in September 2021.」
Although lower visitor numbers and losses due to the spread of infections continued, funding measures progressed through the receipt of ¥520 million from the transfer of fixed assets and the raising of ¥1,000 million through the issuance of preferred shares. - FY2022-Q3RestatedAnnual report
「Having implemented these measures, the Company determined that there are no concerns regarding liquidity for the foreseeable future and that no material uncertainty exists regarding the going-concern assumption.」
Although uncertainty in the business environment due to COVID-19 remains, the Company continues to determine that there are no concerns regarding liquidity for the foreseeable future as a result of measures including the transfer of fixed assets and issuance of preferred shares. - FY2022-Q2MitigatedAnnual report
「In addition to the measures described under "Business and Other Risks" in the Company's securities report for the previous fiscal year, during the cumulative second quarter the Company transferred fixed assets and issued preferred shares through a third-party allotment. Having implemented these measures, the Company determined that there are no concerns regarding liquidity for the foreseeable future and that no material uncertainty exists regarding the going-concern assumption.」
Although uncertainty due to COVID-19 remains high, the Company transferred fixed assets and issued preferred shares and stated its determination that there are no concerns regarding liquidity for the foreseeable future. - FY2022-Q1MitigatedAnnual report
「Although performance improved compared with the same period of the previous fiscal year, events or conditions that could raise substantial doubt about the going-concern assumption exist because uncertainty in the business environment due to COVID-19 remains high.」
Although uncertainty in the business environment due to COVID-19 remains high, performance improved year on year and the operating loss narrowed from ¥1,065 million to ¥596 million. - FY2021WorsenedAnnual report
「The business environment has changed dramatically due to domestic and international travel restrictions and requests to refrain from operating associated with the spread of COVID-19, and severe operating conditions are expected to continue. From February 2020 onward, visitor numbers declined sharply due to repeated cancellations of accommodation and banquet bookings and requests to refrain from operating.」
The risk of lower visitor numbers and requests to refrain from operating due to COVID-19 continued to worsen, accompanied by a 60.0% full-year decline in revenue and an operating loss of ¥2,567 million. - FY2021-Q3WorsenedAnnual report
「Although signs of recovery emerged following the lifting of the state of emergency and the implementation of the Go To Travel and Go To Eat campaigns, conditions became difficult again due to the resurgence of COVID-19 infections and the temporary suspension of Go To Travel and other measures.」
After signs of recovery emerged following the lifting of the state of emergency and the Go To initiatives, the business environment became difficult again due to the resurgence of infections and the temporary suspension of Go To Travel and other measures. - FY2021-Q2WorsenedAnnual report
「Against this backdrop, during the cumulative second quarter, the Company recorded an operating loss of ¥1,813 million and a quarterly net loss of ¥1,615 million, representing substantial losses,」
The effects of lower visitor numbers and requests to refrain from operating due to COVID-19 continued, with losses expanding to an operating loss of ¥1,813 million and a quarterly net loss of ¥1,615 million. - FY2021-Q1WorsenedAnnual report
「In light of conditions since July, the Company expects the difficult situation to continue, with recovery taking longer than anticipated at the end of the previous fiscal year. As the need for new financing has increased, events or conditions that could raise substantial doubt about the going-concern assumption exist.」
The risk of lower visitor numbers and the need for additional funding due to COVID-19 has developed into a situation raising substantial doubt about the going-concern assumption, as recovery has been delayed and the need for funding has increased. - FY2020First statedAnnual report
「The business environment has changed dramatically due to domestic and international travel restrictions and requests to refrain from operating associated with the spread of COVID-19, and severe operating conditions are expected to continue. The Company also experienced a sharp decline in visitors from February 2020 onward due to repeated cancellations of accommodation and banquet bookings and requests to refrain from operating. If this situation continues, the Company may need to raise additional funds. As a result, revenue for the current fiscal year was ¥9,625 million, down 9.0% year on year.」
COVID-19 was identified explicitly as a standalone business risk for the first time, with travel restrictions, requests to refrain from operating, cancellations, a sharp decline in visitors, a 9.0% decrease in revenue and the possibility of additional funding described.