Slowing Growth and Intensifying Competition in the Internet-Related Market
First written in FY2024. 3 of 6 entries say "Materialised", first in 2026-03-31. Latest entry: FY2026.
Muscat Group moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2020: 8 of 25 companies on the "Worse" side.
5 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Sales performance fell below the initial plan amid a deterioration in the market environment, including intensifying competition and changes in consumer trends in the retail market, including variety stores, which are major sales channels. The Group was also significantly affected by a challenging business environment in the brand partner area, including a decline in orders as client companies restrained advertising and promotion expenses and accelerated the internalization of their marketing strategies.」
Intensifying retail competition, changing consumption trends, client companies’ advertising restraint and internalization are identified as actual causes of lower sales and orders. - FY2026-H1RestatedAnnual report
「While improvements in employment and income conditions are expected to support a gradual economic recovery, downside risks to the economy from U.S. trade policy remain. In addition, the situation requires attention to downside risks to personal consumption from continued inflation.」
Specific factors in the interim period, namely U.S. trade policy and inflation, are identified as risks of economic and consumption downturns. - FY2025RestatedAnnual report
「Although we recognize that the B2C e-commerce and social media marketing markets are expected to continue expanding, if market growth related to the Group’s businesses slows or competition intensifies due to external factors such as laws and regulations restricting internet use, new regulations on e-commerce and online payments, damage to user trust, growing concern about privacy, particularly the security of personal information management, and economic trends, the Group’s financial condition, operating results and other matters may be affected.」
The risks of slower market growth, regulation, economic conditions and intensified competition continue to be disclosed. - FY2024First statedAnnual report
「If growth in markets related to the Group’s businesses slows, or competition intensifies, due to external factors such as laws and regulations restricting internet use, new regulations on e-commerce and online payments, damage to user trust, growing concern about privacy, particularly the security of personal information management, and economic trends,」
The likelihood is classified as low and the impact as medium.