Market contraction due to the declining birthrate and its impact on the customer base
First written in FY2016. 24 of 25 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 4 of 14 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The Company faces the issue of the declining birthrate, reflected in the recent fall in the number of births.」
The decline in the number of births and contraction of the market size continue to be identified as major business-environment risks. - FY2025-H1RestatedAnnual report
「During the interim accounting period under review, there were no material changes in the occurrence of major risks that management recognizes could materially affect the Company's financial position, operating results or cash flows, among the matters concerning the business and financial conditions described in the interim report, or in the matters concerning business and other risks described in the annual securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the major risks, including market contraction due to the declining birthrate. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter period, there were no material changes in the occurrence of major risks that management recognizes could materially affect the company's financial position, operating results or cash flows, among the matters concerning the business and financial condition described in this quarterly securities report, or in the business and other risks described in the securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the major risks, including market contraction due to the declining birthrate. It also continues to mention the decline in the preschool population and trends in the membership base in the analysis of operating results. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new occurrences of the major risks that management recognizes as potentially having a material impact on the company’s financial position, operating results or cash flows, among the matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the risks described in the “Business and Other Risks” section of the annual securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the major risks, including market contraction due to the declining birthrate. - FY2022RestatedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain. At the same time, the declining birthrate increases the scarcity value of children, and products and services that are needed are increasingly expected to offer high added value, premium standards and high quality.」
It reiterates the view of the business environment that the declining birthrate will shrink the market and shift demand toward high-value-added services. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter period, there were no occurrences of the major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the company, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year, among the matters concerning the business and financial condition described in this quarterly report.」
It comprehensively states that there have been no material changes to the major risks, including market contraction due to the declining birthrate. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter period, there were no material changes in the occurrence of major risks that management recognizes could materially affect the company's financial position, operating results or cash flows, among the matters concerning the business and financial condition described in this quarterly securities report, or in the business and other risks described in the securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the major risks, including market contraction due to the declining birthrate. - FY2021RestatedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain. At the same time, the declining birthrate increases the scarcity value of children, and products and services that are needed are increasingly expected to offer high added value, premium standards and high quality.」
The annual report reiterates the view of the business environment that the declining birthrate will shrink the market and shift demand toward high-value-added services. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter period, there were no occurrences of the major risks that management recognizes could have a material impact on the financial position, operating results or cash flows of the company, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year, among the matters concerning the business and financial condition described in this quarterly report.」
It comprehensively states that there have been no material changes to the major risks, including market contraction due to the declining birthrate. - FY2020RestatedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain. At the same time, the declining birthrate increases the scarcity value of children, and products and services that are needed are increasingly expected to offer high added value, premium standards and high quality.」
It reiterates the previous view of the business environment: market contraction due to the declining birthrate and a shift toward demand for high-value-added services. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter of the current fiscal year, there were no occurrences of matters concerning the business situation, accounting situation or other matters described in the quarterly report that could have a material impact on investors’ decisions, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the risks associated with existing businesses and other activities. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, there were no occurrences of matters concerning the business situation, accounting situation or other matters described in the quarterly report that could have a material impact on investors’ decisions, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the risks described in the previous fiscal year, including market contraction due to the declining birthrate. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, there were no occurrences of matters concerning the business situation, accounting situation or other matters described in the quarterly report that could have a material impact on investors’ decisions, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the risks described in the previous fiscal year, including market contraction due to the declining birthrate. - FY2019RestatedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain. At the same time, the declining birthrate increases the scarcity value of children, and products and services that are needed are increasingly expected to offer high added value, premium standards and high quality.」
The annual report reiterates the view that the declining birthrate will shrink the market and shift demand toward high-value-added services. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, the business environment surrounding the Company was characterized by a declining preschool population in Japan. At the same time, spending on education per child and demand for physical education instruction for preschool children, including gymnastics and sports conducted with due regard for safety, are both trending upward.」
The declining trend in the preschool population continues to be reported. It also mentions increases in education spending and demand for physical education instruction for preschool children. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, there were no occurrences of matters concerning the business situation, accounting situation or other matters described in the quarterly report that could have a material impact on investors’ decisions, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It comprehensively states that there have been no material changes to the risks described in the previous fiscal year, including market contraction due to the declining birthrate. - FY2018RestatedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain. At the same time, the declining birthrate increases the scarcity value of children, and products and services that are needed are increasingly expected to offer high added value, premium standards and high quality.」
The annual report reiterates the previous view of the business environment: market contraction due to the declining birthrate and a shift toward demand for high-value-added services. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, the business environment surrounding the Company was characterized by a declining preschool population in Japan. At the same time, interest is growing in the government's policy of making early childhood education free of charge under its initiative known as the Revolution in Human Resources Development, and demand for physical education instruction for preschool children, including gymnastics and sports conducted with due regard for safety, is also trending upward. Differentiation among companies in the preschool physical education instruction industry is continuing to advance.」
While continuing to report the declining trend in the preschool population, it also identifies growing interest in free early childhood education and an upward trend in demand for physical education instruction for preschool children as business-environment factors. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, the business environment surrounding the Company was characterized by a declining preschool population in Japan. Although the Company has intensified its recruitment efforts, securing qualified childcare workers remains essential. As children's and families' issues become more diverse and complex, the required level of expertise is expected to rise, beyond simply eliminating children on waiting lists.」
The declining trend in the preschool population continues to be identified as part of the business environment. It also explains the need to secure qualified childcare workers and the growing demand for expertise. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter under review, the business environment surrounding the Company was characterized by a declining preschool population in Japan. The number of kindergartens is falling and the number of certifiedこども園 facilities is trending upward, while the number of childcare centers is increasing. However, shortages of childcare workers continue, and are expected to have a significant impact on achieving the goal of eliminating children on waiting lists.」
The declining trend in the preschool population continues to be identified as a business-environment factor. - FY2017RestatedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain. At the same time, the declining birthrate increases the scarcity value of children, and products and services that are needed are increasingly expected to offer high added value, premium standards and high quality.」
While continuing to identify market contraction due to the declining birthrate as a business risk, it also indicates that demand for high-value-added services is increasing as children become more scarce. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter under review, the business environment surrounding the Company was characterized by the long-term continuation of the declining birthrate in Japan. Although measures have been introduced to eliminate children on waiting lists, including revisions to systems governing the establishment of nursery schools, regulatory deregulation and measures to improve childcare workers' working conditions, shortages of nursery schools and childcare workers continue and are expected to have a significant impact on achieving the goal of eliminating children on waiting lists.」
The long-term continuation of the declining birthrate continues to be identified as a business-environment factor. It explains that, although systems governing the establishment of nursery schools have been revised, regulations have been eased and measures have been implemented to improve childcare workers' working conditions, shortages of nursery schools and childcare workers continue. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, the business environment surrounding the Company was characterized by the long-term continuation of the declining birthrate in Japan. Although local governments are increasingly moving to establish additional nursery schools to eliminate the number of children on waiting lists, shortages of childcare workers, particularly in the Tokyo metropolitan area, continue,」
The long-term continuation of the declining birthrate continues to be identified as a business-environment factor. - FY2017-Q1RestatedAnnual report
「The business environment surrounding the Company is affected by the long-term continuation of the declining birthrate in Japan, the issue of children on waiting lists, shortages of nursery schools and childcare workers, and regulations concerning early childhood education, including childcare support,」
The long-term continuation of the declining birthrate is again identified as a business-environment factor. - FY2016First statedAnnual report
「Looking solely at the child population, the market is trending downward as a future decline in the birthrate appears certain」
The declining birthrate is identified as a major business-environment risk, with stagnant growth in the number of contracted nursery schools and members cited as having the potential to affect performance.