ANALYSIS OF THE IMPACT OF COVID-19 ON PUBLIC TRANSPORTATION FIRMS’ BUSINESS SITUATION BY USING FINANCIAL STATEMENTS OF LISTED COMPANIES

Abstract

 As people refrain from going out of their homes due to the spread of COVID-19, the demand for transportation has declined sharply. The public transportation industry in Japan is facing a significant drop in revenue, making it difficult to continue providing public transportation services. In order to indentify the impact that public transportation has suffered by COVID-19, it is necessary to analyze the impact on business conditions from multiple perspectives. In this study, this paper compiled the financial statements disclosed by listed transportation companies in Japan and analyzed the trends in operating revenue and operating profit, as well as the receipt of subsidies such as employment adjustment subsidy. The results indicates that the crisis situation of transportation firms is accelerating and that support for deficits and declining revenues is insufficient.