Loss and prolonged decline in travel demand caused by COVID-19
First written in FY2020. 7 of 16 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2026-H1.
KNT-CT Holdings moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 12 of 17 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2026-H1MitigatedAnnual report
「Overseas travel prices have continued to rise because of the trend of yen depreciation, higher prices at destinations and persistently high crude oil prices. Although a full recovery in demand will still take time, recovery toward pre-pandemic levels is gradually progressing. Inbound travel has grown substantially, supported by the continued trend of yen depreciation, increased airline seat capacity and rising inbound demand during extended holidays.」
In post-pandemic travel demand, overseas travel continued to recover toward pre-pandemic levels, while inbound travel grew substantially against a backdrop of increased airline seat capacity and other factors. - FY2025MitigatedAnnual report
「Domestic travel maintained a recovery trend throughout the fiscal year, as the classification of COVID-19 under the Infectious Diseases Act was lowered to Category 5 in May of the previous year, expanding the range of activities and increasing enthusiasm for travel, despite the impact of the Noto Peninsula earthquake in January of the current year. Inbound travel also showed a strong recovery, driven by the lifting of border-control measures on entry and the continued trend of yen depreciation.」
The company confirmed a shift from the disappearance of domestic and inbound travel demand caused by COVID-19 to a recovery phase driven by the easing of activity restrictions and border-control measures. - FY2025-H1MitigatedAnnual report
「In the travel industry, domestic travel demand has remained broadly flat after the desire to travel, which had risen as COVID-19 subsided, began to settle.」
The travel market transitioned to one premised on the subsidence of COVID-19, and domestic travel demand moved from a phase of rapid recovery to broadly flat. - FY2024MitigatedAnnual report
「Domestic travel maintained a recovery trend throughout the fiscal year, as the classification of COVID-19 under the Infectious Diseases Act was lowered to Category 5 in May of the previous year, expanding the range of activities and increasing enthusiasm for travel, despite the impact of the Noto Peninsula earthquake in January of the current year. Inbound travel also showed a strong recovery, driven by the lifting of border-control measures on entry and the continued trend of yen depreciation.」
Domestic and inbound travel demand, which had disappeared during the pandemic, moved toward recovery and a strong recovery, respectively, against a backdrop of eased activity restrictions and the lifting of border-control measures. Overseas travel continued to lag in its recovery. - FY2024-Q1MitigatedAnnual report
「In the travel industry, the classification of COVID-19 under the Infectious Diseases Act was lowered to Category 5, and measures were left to the judgment of individuals and companies, expanding the range of activities and putting domestic travel on a recovery trend. Inbound travel also showed a strong recovery, driven by the lifting of border-control measures for entry into Japan and the continued trend of yen depreciation.」
Domestic and inbound travel shifted toward recovery as activity restrictions related to COVID-19 were eased and border-control measures were lifted. Overseas travel, however, continued to lag in its recovery. - FY2023RestatedAnnual report
「Although overseas travel sales resumed in May 2022, the delayed recovery in demand meant that travel business revenue remained substantially below pre-pandemic levels.」
Travel demand recovered, but the recovery in overseas travel demand lagged, and travel business revenue remained substantially below pre-pandemic levels. - FY2023-Q3MitigatedAnnual report
「Although the travel industry was affected by the seventh and eighth waves of COVID-19, domestic travel recovered, helped by the effects of various government demand-stimulation measures.」
Although the effects of the seventh and eighth waves remained, domestic travel showed signs of recovery, helped by demand-stimulation measures, and the impact of COVID-19 on the disappearance of travel demand weakened from the previous fiscal year. - FY2023-Q2WorsenedAnnual report
「In the travel industry, cancellations increased successively from July onward as travel avoidance associated with the seventh wave of infections and frequent torrential rain, typhoons and other events on weekends took their toll.」
Even after travel demand began to recover, travel cancellations caused by voluntary restraint from travel during the seventh wave of infections and by heavy rain and typhoons occurred, again making the disruption to demand recovery caused by COVID-19 tangible. - FY2023-Q1MitigatedAnnual report
「In the travel industry, travel demand began to recover as COVID-19-related activity restrictions were lifted, but overseas, inbound and domestic travel all remained below pre-pandemic levels.」
Travel demand shifted from a substantial loss caused by COVID-19 toward recovery as activity restrictions were lifted. However, domestic, overseas and inbound travel all remained below pre-pandemic levels. - FY2022WorsenedAnnual report
「During the fiscal year, the group was unable to escape the substantial loss of travel demand because declarations of a state of emergency and the priority preventive measures against the spread of disease were issued or applied for almost the entire period, except October through December 2021, and the expected resumption of the Go To Travel Campaign was postponed.」
The substantial loss of travel demand caused by COVID-19 continued throughout the fiscal year, compounded by the postponement of the Go To Travel Campaign's resumption. Travel business revenue was down 83.3% from fiscal 2018. - FY2022-Q1RestatedAnnual report
「The spread of COVID-19 continues to affect the group's business activities. The group will continue monitoring the situation and taking measures.」
The impact of COVID-19 on business activities continues, and the company reaffirmed its policy of monitoring the situation and taking measures. - FY2021WorsenedAnnual report
「Since February 2020, the spread of COVID-19 caused most domestic and international travel demand to disappear. Even after the Go To Travel Campaign began in July 2020, the group was affected by the second and third waves, and severe sales conditions continued throughout the fiscal year. The first quarter of fiscal 2021 was also heavily affected by the fourth wave, and difficult conditions continued.」
The disappearance of most travel demand continued through the second, third and fourth waves, and the company stated that difficult conditions would continue into the first quarter of the following fiscal year. - FY2021-Q3WorsenedAnnual report
「Since February 2020, the spread of COVID-19 caused most domestic and international travel demand to disappear. Even after the Go To Travel Campaign began in July 2020, the group was affected by the second and third waves, and severe sales conditions continued throughout the fiscal year.」
The impact of COVID-19 continued through the second and third waves, and severe sales conditions persisted, with most domestic and international travel demand having disappeared even after the launch of Go To Travel. - FY2021-Q2WorsenedAnnual report
「In the travel industry, overseas and inbound travel remained impossible to operate. Although the Go To Travel Campaign began on 22 July, travel to and from Tokyo was excluded from the program through the end of September, limiting its effect.」
The inability to operate overseas and inbound travel continued, while the effect of Go To Travel on domestic travel was limited. Net sales fell 92.6% year on year, and the accounting assumption that demand for overseas and inbound travel would not recover for a considerable period remained in place. - FY2021-Q1WorsenedAnnual report
「In the travel industry, overseas travel and inbound travel could not be operated because of entry restrictions imposed by countries worldwide. Domestic travel demand also virtually disappeared in April and May following the government's declaration of a state of emergency, and the same conditions continued in June after the declaration was lifted. As a result, consolidated net sales for the cumulative first quarter were ¥3,322 million, down 97.0% year on year.」
The impact of COVID-19 continued in the form of an inability to operate overseas and inbound travel and the near disappearance of domestic travel demand, causing net sales to fall 97.0% year on year. - FY2020MaterialisedAnnual report
「As COVID-19 spread, cancellations of individual and group travel mounted from February 2020, and new travel bookings fell sharply. Domestic travel demand remains substantially depressed, while demand for overseas travel has disappeared.」
The impact of COVID-19, including travel cancellations, fewer new bookings, depressed domestic demand and the disappearance of overseas demand, materialized during the fiscal year. The impact on consolidated net sales is estimated at approximately ¥30 billion.