Impact of COVID-19 on Business Results and Operations
First written in FY2021-Q1. 10 of 14 entries say "Reframed", first in FY2022-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025ReframedAnnual report
「The Group operates hotel, restaurant, apparel-store and kimono-store businesses. If a severe infectious disease outbreak occurs and restrictions on activities and travel are imposed, causing a significant decline in hotel guests and store visitors, the Group's business performance and financial position may be affected.」
The description has been organized as a general infectious-disease risk common to the hotel, restaurant, apparel-store and kimono-store businesses, rather than as a past disclosure focused on the spread of COVID-19. - FY2024ReframedAnnual report
「During the consolidated fiscal year under review, normalization progressed as the COVID-19 pandemic subsided, and consumption became more active as domestic demand for outings and inbound demand, driven by the weaker yen, recovered. However, the outlook remained uncertain owing to the prolonged deterioration in the international situation, persistently high resource prices, and rising prices resulting from the yen's depreciation and other factors.」
The description has shifted from focusing on the stagnation of economic activity and the direct impact on stores and hotels caused by the spread of COVID-19 to indicating the subsiding of the pandemic, normalization of the economy, and recovery in consumption and inbound demand, while identifying prices and the international situation as the main sources of uncertainty. - FY2024-Q3ReframedAnnual report
「During the cumulative third quarter of the fiscal year under review, the Japanese economy was moving toward normalization of economic activity following the lifting of restrictions on activities related to COVID-19, and signs of recovery were seen in personal consumption and inbound demand.」
The description has moved from focusing on the stagnation of economic activity caused by the spread of COVID-19 to a stage indicating the normalization of economic activity following the lifting of activity restrictions, and the recovery of personal consumption and inbound demand. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter of the fiscal year under review, the Japanese economy was progressing toward normalization of economic activity following the transition of COVID-19 to a Class 5 infectious disease, and domestic personal consumption and capital investment were recovering.」
The description has moved from focusing on business stagnation caused by the spread of COVID-19 to a stage indicating the transition to a Class 5 infectious disease, progress toward normalization of economic activity, and recovery trends in personal consumption and capital investment. - FY2024-Q1ReframedAnnual report
「During the first quarter of the fiscal year under review, the Japanese economy was moving toward normalization of social and economic activity following the classification of COVID-19 as a Class 5 infectious disease, and domestic consumption was recovering.」
The description has shifted from the previous focus on the stagnation of economic activity caused by the spread of COVID-19 to a stage indicating the transition to a Class 5 infectious disease and the normalization of social and economic activity, as well as a recovery trend in consumption. - FY2023-Q3ReframedAnnual report
「At apparel stores, the number of visiting customers began to recover from the first quarter, but in the third quarter it began to decline due to the impact of the spread of COVID-19.」
While the impact of the spread of COVID-19 re-emerged in the store sales business as a decline in customer visits in the third quarter, the hotel business showed higher revenue and profit as the impact of restrictions diminished, with the effects differing by business. - FY2023-Q1ReframedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy showed signs of a recovery in consumption as domestic COVID-19 infections declined and restrictions on activities were eased. However, prices were rising due to rapid yen depreciation and surging resource prices resulting from the situation in Russia and Ukraine, leaving the outlook uncertain.」
The description has shifted from focusing on the stagnation of economic activity caused by COVID-19 to indicating a recovery trend as infections declined and activity restrictions were eased, while placing greater emphasis on other channels of impact, such as the weaker yen and surging resource prices. - FY2022-Q3ReframedAnnual report
「In the hotel business, the impact of the spread of COVID-19 subsided and the negative impact decreased compared with the same period of the previous year. However, costs for newly opened hotels were incurred ahead of revenue, and in the third quarter occupancy rates at existing hotels declined because the GoTo Campaign, which had been conducted in the same period of the previous year, was no longer in place.」
While the impact of COVID-19 diminished in some areas, the hotel business experienced lower occupancy rates following the end of the GoTo Campaign, and the mail-order business saw weaker responses from existing customers. The effects therefore differed by business. - FY2022-Q2ReframedAnnual report
「As the impact of the spread of COVID-19 subsided and existing customers became less responsive compared with the same period of the previous year, revenue was ¥47,044 million, up 4.6% year on year, and the segment loss was ¥525 million, compared with segment profit of ¥1,729 million in the same period of the previous year.」
While the impact of COVID-19 has diminished in the store and hotel businesses, among others, mail-order sales have seen weaker responses from existing customers and losses in the general mail-order business as the COVID-19-related demand surge subsided. The effects therefore differ by business. - FY2022-Q1ReframedAnnual report
「Although shortened business hours and temporary closures based on developers' policies to prevent the spread of COVID-19 affected operations, the impact decreased compared with the same period of the previous year. As a result, revenue was ¥4,340 million, up 48.1% year on year, and the segment loss was ¥869 million, compared with a segment loss of ¥1,378 million in the same period of the previous year.」
The impact of COVID-19 continues in the store sales, hotel and other businesses, but some businesses have shown a reduced impact compared with the same period of the previous year, and its effect on business performance has become less uniform. - FY2021MaterialisedAnnual report
「As the spread of COVID-19 continues, the following businesses may be negatively affected: ① Store sales business (temporary closures based on government and developer policies, and a decline in customer visits when stores open) ② Hotel business (temporary closures based on government policies, and a decline in the number of guests when hotels open)」
The risk of the spread of COVID-19 has been presented as a separate item under business and other risks, with specific channels of impact on the store sales and hotel businesses. Actual results have also shown lower revenue and profit or losses in both businesses. - FY2021-Q3MaterialisedAnnual report
「Golf course operations, restaurant operations, accommodation booking operations and other businesses struggled due to the spread of COVID-19. Revenue was ¥3,607 million, down 9.8% year on year, and segment loss was ¥703 million, compared with a segment loss of ¥746 million in the same period of the previous year.」
The impact of the spread of COVID-19 continued to be reflected in cumulative third-quarter results as lower revenue and losses in the store sales, hotel, golf course, restaurant and accommodation reservation businesses, among others. - FY2021-Q2MaterialisedAnnual report
「Golf course operations, restaurant operations, accommodation booking operations and other businesses struggled due to the spread of COVID-19. Revenue was ¥2,077 million, down 15.3% year on year, and segment loss was ¥568 million, compared with a segment loss of ¥542 million in the same period of the previous year.」
The impact of the spread of COVID-19 was specifically reflected in cumulative second-quarter results as lower revenue and losses in the store sales, hotel, golf course, restaurant and accommodation reservation businesses, among others. - FY2021-Q1First statedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy was in an extremely difficult situation due to the decline in inbound demand and the stagnation of economic activity in Japan and overseas against the backdrop of the global spread of COVID-19.」
The spread of COVID-19 was reflected in actual results through stagnant economic activity, lower inbound demand, reduced store hours and temporary closures in the Retail Store Business, travel restrictions and entry controls affecting hotels, and weak golf-course and restaurant businesses.