Operating Results for the Fiscal Year Ended October 31, 2020 (FY2020)
During the current fiscal year (November 1, 2019 to October 31, 2020), the global COVID 19 pandemic continued. Demand plummeted in Japan because more companies nationwide suspended operations and people were asked to stay home as much as possible due to the April declaration of a state of emergency and other events .After the state of emergency ended at the end of May, economic activity slowly resumed. However, consumer spending is still weak because of concerns about another wave of infections. As a result, the outlook remains uncertain .
The business climate for the wedding industry remained extremely challenging. People stayed home and avoided closed spaces, crowded places and close contact settings. Due to growing awareness for precautions to prevent COVID 19 infections, there were postponements of weddings and receptions and cancellation of other events attended by many people.
All locations in areas covered by the state of emergency were temporarily closed because the safety of customers and employees is the highest priority. Even after the lifting of the declaration, with the approval of customers, we postponed weddin gs and receptions at all locations up to the end of August. We restarted operations in September along with rigorous safety measures concerning COVID 19. However, there were big decreases in the number of weddings and sales per wedding. As a result, we recorded the first loss since we started operations.
Fiscal year sales decreased 56.7 % from one year earlier to 8,746 million yen. Operating loss was 3,981 million yen compared with a 1,931 million yen profit one year earlier, ordinary loss was 3,524 million yen compared with a 1,955 million yen profit one year earlier, and loss attributable to owners of parent was 4,235 million yen compared with a 1,350 million yen profit one year earlier.
The number of weddings decreased because of postponements of weddings and receptions due to COVID 19. As a result, sales decreased 57.7% from one year earlier to 8,210 million yen . Operating loss was 4,035 million yen compared with a 1,893 million yen profit one year earlier.
Nursing care Operations
Sales increased 4.1% from one year earlier to 536 million yen and operating profit increased 40.9% to 55 million yen.
A subsidiary was established in October 2020 to operate food business. Operating loss was 1 million yen.