Junichi Tsuda of Izutsu Yatsuhashi says the Kyoto confectioner knew it benefited from overseas tourist business but didn't realize how much the firm had come to depend on it, until it disappeared. The pandemic has revealed several management failings. https://www.nikkei.com/article/DGXMZO67000110U0A201C2000000

Tsuda says Izutsu had been slow to move online, so had to get its act together quickly. The fact the firm had a long history made employees and management complacent about its ability to weather a tough enviroment but red ink is unforgiving.

In the absence of tourist business, Izutsu has been looking at expanding domestic sales channels, whch Tsuda concedes the firm had neglected, and should have been constantly reviewing as a matter of course.