Retail, leisure and dining businesses are taking a hit as more people in Japan avoid crowded areas and opt to stay home due to the spread of COVID-19, with economists predicting a fall of over ¥2 trillion ($18 billion) in household consumption.
Japanese-style izakaya pubs reported group cancellations after Prime Minister Shinzo Abe asked organizers of big sport and cultural events on Wednesday to consider canceling or postponing them over the next two weeks in the wake of the pneumonia-causing virus.
Noting spring is a season for send-off and welcome parties in Japan, with the fiscal year starting for businesses in April, the head of one izakaya in Tokyo said, "If this (self-imposed restraint) continues through March and April, there will be damage to our business."