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I would now like to explain the effects of the spread of the coronavirus during the first quarter of the fiscal year ending March 31, 2021.
The earnings forecasts announced in May assumed that business activity would be severely restricted, especially BtoC business, during the first quarter. In our opinion, the deterioration in performance was mostly in line with forecasts.
The actual impact on each segment’s business and performance during the first quarter is as shown in the table.
In addition to decreased revenue and decreased operating profit, we recorded extraordinary loss on COVID-19 impact of 6.6 billion yen.
This is because the Group closed commercial facilities, facilities under management, and stores in response to calls by central and local governments for people to refrain from going out due to the spread of the coronavirus and recorded fixed costs incurred during the ensuing period of closure, such as rent, depreciation and labor costs, as extraordinary losses.
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