Sharp Decline in Inbound Demand from Overseas Due to COVID-19
First written in FY2021-Q3. 3 of 7 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2023-Q3.
The whole theme swung hardest in 2020: 12 of 15 companies on the "Worse" side.
11 other companies' latest entry also says "Mitigated".
- FY2023-Q3MitigatedAnnual report
「As a result, operating revenue was ¥55.858 billion, up 28.5% year on year, reflecting the recovery in economic activity and markets from the COVID-19 pandemic and the impact of foreign exchange movements. Operating profit was ¥290 million, compared with an operating loss of ¥99 million in the same quarter of the previous year, partly due to the reduced burden of goodwill amortization.」
The recovery in economic activity and markets overseas drove a 28.5% year-on-year increase in operating revenue, and operating income turned positive from a loss of ¥99 million in the previous year to profit of ¥290 million. - FY2023-Q2MitigatedAnnual report
「Operating revenue was ¥36.685 billion, up 32.3% year on year, reflecting the recovery in economic activity and markets from the COVID-19 pandemic and the impact of foreign exchange movements. Despite the burden of goodwill amortization, operating profit was ¥205 million, compared with an operating loss of ¥193 million in the same quarter of the previous year.」
In the overseas business, operating revenue increased 32.3% year on year against a backdrop of the recovery in economic activity and markets, and operating income also turned positive from a loss. - FY2023-Q1MitigatedAnnual report
「Operating revenue was ¥18.819 billion, up 41.9% year on year, reflecting the recovery in economic activity and markets from the COVID-19 pandemic and the impact of foreign exchange movements. Operating profit was ¥107 million, compared with an operating loss of ¥122 million in the same quarter of the previous year, despite the burden of goodwill amortization.」
In the overseas business, operating revenue increased against a backdrop of the recovery in economic activity and markets from the COVID-19 crisis, and operating income turned positive from a loss in the same quarter of the previous year. - FY2022ReframedAnnual report
「Operating revenue was ¥59.573 billion, partly reflecting the contribution from the consolidation of Merison (M) Sdn.Bhd., whose shares were acquired in October 2020, and Song Ma Retail Co., Ltd., whose shares were acquired in July 2021. Although markets had recently been returning to normal, the impact of lockdowns caused by the spread of COVID-19 remained significant, and the burden of goodwill amortization resulted in operating profit of ¥38 million.」
Regarding the impact of COVID-19 overseas, the company made the description more specific by shifting from the previous decline in inbound demand to the impact of market lockdowns, while also adding that conditions had recently been moving toward normalization. - FY2022-Q3ReframedAnnual report
「As a result, operating revenue was ¥43.463 billion, partly reflecting the consolidation of Merison (M) Sdn.Bhd., whose shares were acquired in October 2020, and Song Ma Retail Co., Ltd., whose shares were acquired in July 2021. However, the impact of market lockdowns caused by COVID-19 was significant, and the burden of goodwill amortization also resulted in an operating loss of ¥99 million.」
Regarding the impact of COVID-19 overseas, the company stated that, in addition to the previous decline in inbound demand, market lockdowns resulted in an operating loss of ¥99 million in the overseas business. - FY2021RestatedAnnual report
「Operating income was ¥162 million, up 6.8% year on year, despite a sharp decline in inbound demand due to the impact of COVID-19, partly because the amortization burden of goodwill decreased.」
The sharp decline in overseas inbound demand continued to reduce operating income, but operating income for the overseas business as a whole increased because the goodwill amortization burden decreased. - FY2021-Q3First statedAnnual report
「Despite a reduction in the burden of goodwill amortization, operating profit was ¥138 million, down 4.8% year on year, due partly to a substantial decline in inbound demand caused by COVID-19.」
For the first time, the company identified the sharp decline in inbound demand caused by COVID-19 as a factor behind the 4.8% year-on-year decline in operating income in the overseas business.