Stagnant personal consumption and a challenging competitive environment in the food industry
First written in FY2017-Q1. 13 of 25 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-08-07.
Morinaga Milk Industry moved to the "Worse" side of this theme in 2020, 2 years before the typical company in this theme (2022).
The whole theme swung hardest in 2022: 9 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Demand conditions across the food sector were challenging, with the decline in sales volumes exceeding the initial expectations for the period.」
It states that the decline in volumes across the food sector exceeded the initial expectations and anticipates challenging domestic demand and profit conditions for the fiscal year ending March 2027. - FY2026-H1WorsenedAnnual report
「Demand conditions across the food sector remain challenging, including a decline in sales volumes that exceeded expectations.」
In addition to the existing challenging competitive and consumer environment, it expressly identifies demand conditions across the food sector as challenging, with the decline in sales volumes exceeding expectations. - FY2024-Q1WorsenedAnnual report
「While economic activity is expected to continue recovering moderately in Japan, supported by a pickup following the easing of restrictions to control infectious diseases, increased labor demand, wage growth and a recovery in inbound tourism demand, the effects of rising prices on households and businesses are expected to continue, requiring continued monitoring of domestic and overseas conditions.」
While describing a pickup in economic activity, it states that the effects of rising prices on households and businesses will continue, and that concerns about the consumption and cost environment also remain. - FY2023-Q2WorsenedAnnual report
「The effects of rising prices on households and businesses have begun to emerge, and it is necessary to continue monitoring developments in domestic and overseas conditions.」
It stated that the effects of rising prices on households and businesses had become apparent and that the challenging environment continued amid changes in consumption trends and rapid changes in the cost structure. - FY2021-Q3WorsenedAnnual report
「The state of emergency was lifted at the end of May, after which signs of a recovery appeared in the domestic economy. However, infections began to spread again markedly from November, and the outlook remained uncertain, with states of emergency being declared again in major cities and no end in sight for the various problems arising from COVID-19. Their effects are expected to continue for an extended period.」
The renewed spread of infections and the reissuance of states of emergency indicate continued uncertainty in the consumption and economic environment and a prolonged impact. - FY2021-Q1WorsenedAnnual report
「Personal consumption also fell sharply, and the global economy deteriorated rapidly.」
In addition to the existing challenging competitive environment and concerns about consumer sentiment, it states that personal consumption fell sharply due to COVID-19 and the economic environment deteriorated further. - FY2020WorsenedAnnual report
「During the period, major changes in the business environment continued, including heightened uncertainty in the domestic and overseas economies, an unusually cool summer, frequent natural disasters, changes in consumer sentiment following the consumption tax rate increase, and the global spread of COVID-19 during the fourth quarter.」
In addition to the existing challenging competitive and consumer environment, it expressly identifies cool summers, frequent natural disasters, changes in consumer sentiment following the consumption tax rate increase, and the spread of COVID-19. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan's economy continued to recover moderately as employment and income conditions improved, but uncertainty remained due to the effects of trade issues, uncertainty in overseas economies, volatility in financial and capital markets, and trends in consumer sentiment following the consumption tax rate increase.」
In addition to the existing uncertainty in the economic and consumer environment, it expressly identifies trends in consumer sentiment following the consumption tax rate increase as a concern. - FY2020-Q2RestatedAnnual report
「In the food industry, demand for functional foods remained strong as health consciousness increased, but the challenging environment continued due to increasingly diverse consumer preferences, shorter product life cycles and higher costs for raw materials and other inputs.」
The disclosure reiterates strong demand for functional foods and a challenging industry environment involving increasingly diverse consumer preferences, shorter product life cycles and higher costs. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, Japan's economy continued to recover moderately as employment and income conditions improved, but uncertainty remained due to the effects of trade issues, uncertainty in overseas economies and volatility in financial and capital markets. In the food industry, demand for functional foods remained strong as health consciousness increased, but the challenging environment continued due to increasingly diverse consumer preferences, shorter product life cycles and higher costs for raw materials and other inputs.」
The domestic economy continued to recover moderately, while the food industry remained challenging amid strong demand for functional foods, increasingly diverse consumer preferences, shorter product life cycles and higher costs. - FY2019-Q3RestatedAnnual report
「In the food industry, demand for functional foods remained strong as health consciousness increased, but the challenging environment continued due to increasingly diverse consumer preferences, shorter product life cycles and higher costs for raw materials and other inputs.」
While noting strong demand for functional foods, it states that the challenging environment in the food industry continued amid increasingly diverse consumer preferences, shorter product life cycles and higher costs for raw materials and other inputs. - FY2019-Q2WorsenedAnnual report
「In the food industry, demand for functional foods remained strong as health consciousness increased, but the challenging environment continued due to increasingly diverse consumer preferences, shorter product life cycles and higher costs for raw materials and other inputs.」
Regarding the challenging environment in the food industry, it lists increasingly diverse consumer preferences, shorter product life cycles and higher costs for raw materials and other inputs, in addition to the existing competitive environment. - FY2019-Q1WorsenedAnnual report
「In the food industry, demand for functional foods continued to grow as health consciousness increased, and some high-value-added products showed growth. However, price increases reflecting higher costs for raw materials and other inputs were implemented across various categories, raising concerns about their impact on consumer sentiment, and the challenging environment continued.」
In addition to the existing challenging competitive environment, the disclosure expressly raises concerns about the impact on consumer sentiment of price increases reflecting higher costs for raw materials and other inputs. - FY2018RestatedAnnual report
「In the food industry, some high-value-added products showed growth, including functional foods driven by rising health consciousness, while the competitive environment remained challenging as the pace of consumer price increases slowed.」
Some high-value-added products showed growth, while the challenging competitive environment in the food industry continued. - FY2018-Q3RestatedAnnual report
「In the food industry, some high-value-added products showed growth, including functional foods driven by rising health consciousness, but the competitive environment remained challenging as consumer prices remained flat.」
Some high-value-added products showed growth, while the challenging competitive environment in the food industry continued. - FY2018-Q2RestatedAnnual report
「In the food industry, some high-value-added products showed growth, including functional foods driven by rising health consciousness, but the competitive environment remained challenging as consumer prices remained flat.」
Some high-value-added products showed growth, while the challenging competitive environment in the food industry continued. - FY2018-Q1RestatedAnnual report
「In the food industry, although some high-value-added products, including functional foods benefiting from growing health consciousness, continued to show movement, intense competition persisted as consumer prices remained flat.」
It states that some high-value-added products showed growth, while the challenging competitive environment in the food industry continued. - FY2017SoftenedAnnual report
「During the current consolidated fiscal year, employment and income conditions improved as a result of the government's and the Bank of Japan's economic and monetary policies, and the economy showed a moderate recovery trend despite some delays in recovery.」
For the domestic economy, the disclosure describes improving employment and income conditions and a moderate recovery trend, with less emphasis on stagnant personal consumption than in the previous quarter. The challenging competitive environment in the food industry continued. - FY2017-Q3SoftenedAnnual report
「During the cumulative third quarter of the current fiscal year, Japan's economy continued to recover moderately overall, with employment and income conditions improving, although some areas showed delayed improvement. In the food industry, some high-value-added products showed growth, including functional foods that attracted attention as health consciousness increased, while consumer prices excluding fresh food remained flat and the competitive environment continued to be challenging.」
The disclosure describes improving employment and income conditions and a moderate overall recovery, while the language regarding stagnant consumption was softened from the previous quarter. The challenging competitive environment in the food industry continued. - FY2017-Q2RestatedAnnual report
「However, in addition to a stalling improvement in consumer sentiment, concerns remained about the impact on Japan's economy of a slowdown in overseas economies, particularly in emerging Asian and resource-producing countries, and conditions remained uncertain. In the food industry, some high-value-added products showed growth, including functional foods that attracted attention as health consciousness increased, while the environment remained challenging as the rise in consumer prices slowed.」
The disclosure states that the stalled improvement in consumer sentiment and challenging conditions in the food industry continued. It also notes some activity in health-oriented and high-value-added products. - FY2017-Q1First statedAnnual report
「Japan's economy continued to improve moderately, but the recovery in personal consumption and corporate earnings stalled. In the food industry, the competitive environment remained challenging as the rise in consumer prices slowed.」
The quarter's economic and industry environment is described as one in which the recovery in personal consumption stalled and intense competition continued.