Store closures, reduced consumption and difficulties in procuring products caused by COVID-19
First written in FY2020. 10 of 16 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2026RestatedAnnual report
「If a natural disaster such as a major earthquake, typhoon, flood or fire, or a global outbreak of a novel infectious disease occurs, damage to store facilities, suspension of operations, paralysis of head-office functions, supply-chain disruptions and customers refraining from going out may cause a decline in sales and an increase in recovery costs.」
Reorganized the risk from an individual COVID-19 risk into a risk of impacts on stores, head office and logistics, including those arising from large-scale infectious diseases generally. - FY2024-Q2MitigatedAnnual report
「Sales were ¥23,211 million, up 15.8% year on year, driven by the fading impact of COVID-19, contributions from the 23 stores of Gears Jam Co., Ltd., which became a wholly owned subsidiary in October 2022, and growth in inbound sales.」
The fading impact of COVID-19 was cited as a factor behind the increase in revenue, and the disease's downward pressure on stores and consumption was further mitigated. - FY2024-Q1MitigatedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan's economy continued to recover gradually, led by domestic demand, as the effects of COVID-19 subsided, normalization of social and economic activity progressed further following the reclassification of the disease to Category 5 under the Infectious Diseases Control Act in May.」
Stated that the effects of COVID-19 were subsiding and that the reclassification to Category 5 had advanced the normalization of social and economic activity. The impact of the disease on store closures and reduced consumption was relatively mitigated. - FY2023ReframedAnnual report
「As demonstrated by the global spread of COVID-19, if a large-scale infectious disease occurs, countries around the world may impose measures such as travel restrictions and restrictions on going out, which could significantly affect economic activity.」
Reorganized the risk description from specific references to store closures and reduced consumption due to COVID-19 to a risk statement concerning travel and movement restrictions and their impact on economic activity in the event of a large-scale infectious disease generally. - FY2023-Q3MaterialisedAnnual report
「From July onward, the seventh and eighth waves of infection spread arrived, and although no restrictions on behavior were imposed, social activity was affected to some extent by caution over the spread of infections.」
Caution over the spread of infection in the seventh and eighth waves caused a slowdown in social activity, and the recovery trend in sales weakened somewhat. The risk of COVID-19 weighing on business performance is materializing again. - FY2023-Q2MaterialisedAnnual report
「From July onward, the seventh wave of explosive infection spread arrived, and although no restrictions on behavior were imposed, a slowdown in social activity was observed.」
The seventh wave caused a slowdown in social activity, and the recovery trend in retail sales weakened. The risk of COVID-19 weighing on business performance materialized again. - FY2023-Q1MitigatedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan's economy remained in a state in which new COVID-19 infections were under control, and although signs of normalized social activity and a recovery in personal consumption were observed,」
New COVID-19 infections were under control, and signs of normalized social activity and a recovery in personal consumption were observed. The effects of temporary closures of commercial facilities and other factors that had occurred in the same period of the previous year were relatively mitigated during the quarter. - FY2022MaterialisedAnnual report
「Our Group was also concerned about declines in revenue resulting from store closures and reduced operating hours based on requests from the national and local governments to refrain from going out as infections spread domestically, a substantial contraction in personal consumption of non-essential goods, and difficulties procuring products in Japan and overseas. If these circumstances continue for an extended period, they may have a further impact on business performance and financial condition.」
The risks of store closures, reduced operating hours, reduced personal consumption and product procurement disruptions continued throughout the fiscal year. ¥458.546 million in losses due to temporary closures and other factors was recorded, and revenue increased only 5.6% from the previous fiscal year. - FY2022-Q3MaterialisedAnnual report
「Although a steady recovery has been seen since declarations of a state of emergency and other measures were lifted, the effects of requests to refrain from going out and declining consumer sentiment have continued.」
Although recovery progressed after declarations of a state of emergency and other measures were lifted, the effects of requests to refrain from going out and declining consumer sentiment continued, and ¥458.546 million in losses due to temporary closures and other factors was recorded in the cumulative third quarter. - FY2022-Q2MaterialisedAnnual report
「As requests from the national and local governments to refrain from going out, declarations of a state of emergency and priority preventive measures to prevent the spread of disease expanded amid the spread of COVID-19, many of our stores were forced to close temporarily or reduce operating hours. Although a steady recovery has been seen since the lifting of declarations of a state of emergency and other measures, the effects of requests to refrain from going out and declining consumer sentiment have continued.」
Temporary closures and reduced operating hours occurred at many stores due to declarations of a state of emergency and other measures, and the effects of requests to refrain from going out and declining consumer sentiment continued after the measures were lifted. - FY2022-Q1MaterialisedAnnual report
「In the distribution industry, many commercial facilities were forced to close temporarily or reduce operating hours, including during the Golden Week period, due to requests from the national and local governments to refrain from going out, declarations of a state of emergency and priority preventive measures to prevent the spread of disease.」
Temporary closures of commercial facilities, reduced operating hours, requests to refrain from going out and restrictions on consumption behavior due to declarations of a state of emergency and other measures continued, and ¥301 million in fixed costs and other expenses for closed stores was recorded as losses due to temporary closures and other factors during the quarter. - FY2021MaterialisedAnnual report
「Our Group was also concerned about declines in revenue resulting from store closures and reduced operating hours based on requests from the national and local governments to refrain from going out as infections spread domestically, a substantial contraction in personal consumption of non-essential goods, and difficulties procuring products in Japan and overseas. If these circumstances continue for an extended period, they may have a further impact on business performance and financial condition.」
Store closures, reduced operating hours and reduced personal consumption occurred throughout the fiscal year, resulting in revenue down 33.7% from the previous fiscal year, and ¥878 million in losses due to temporary closures and other factors was recorded. - FY2021-Q3MaterialisedAnnual report
「Our Group was significantly affected by temporary closures of commercial facilities, reduced operating hours, requests to refrain from going out and reduced personal consumption, resulting in a substantial decline in revenue to ¥24,942 million for the third quarter of the current consolidated cumulative period, down 37.7% year on year.」
Temporary closures of commercial facilities, reduced operating hours, requests to refrain from going out and reduced personal consumption continued to affect performance in the cumulative third quarter, resulting in revenue down 37.7% year on year. A substantial decline in revenue continued after the third wave of infections emerged. - FY2021-Q2MaterialisedAnnual report
「Our Group was significantly affected by temporary closures of commercial facilities, requests to refrain from going out and reduced personal consumption, resulting in a substantial decline in revenue to ¥14,930 million for the second quarter of the current consolidated cumulative period, down 44.9% year on year.」
Temporary closures of commercial facilities, requests to refrain from going out and reduced personal consumption associated with COVID-19 actually affected business performance, resulting in revenue down 44.9% year on year. In addition, ¥878.405 million in losses due to temporary closures and other factors was recorded. - FY2021-Q1MaterialisedAnnual report
「Our Group was significantly affected by temporary closures of commercial facilities and reduced personal consumption, resulting in a substantial decline in revenue to ¥5,467 million for the first quarter of the current consolidated cumulative period, down 57.9% year on year.」
Temporary closures of commercial facilities and reduced personal consumption associated with COVID-19 occurred in practice, resulting in revenue down 57.9% year on year. Fixed costs and other expenses of ¥878.405 million during store closure periods were also recorded as losses due to temporary closures and other factors. - FY2020First statedAnnual report
「Our Group was also concerned about declines in revenue resulting from store closures and reduced operating hours based on requests from the national and local governments to refrain from going out as infections spread domestically, a substantial contraction in personal consumption of non-essential goods, and difficulties procuring products in Japan and overseas. If these circumstances continue for an extended period, they may have a further impact on business performance and financial condition.」
For the first time, described COVID-19 as a standalone business risk. Stated that store closures, reduced operating hours, reduced consumption and procurement disruptions had already affected store operations and business performance.