Recession and Declining Consumer Demand
First written in FY2017-Q1. 14 of 31 entries say "Worsened", first in FY2020. Latest entry: 2026-08-03.
Itoham Yonekyu Holdings 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.
2 other companies' latest entry also says "Materialised".
- 2026-08-03MaterialisedEarnings presentation
「Weak consumer demand persists. Sales volume declined.」
Weak consumer demand has materialized as lower sales volume in first-quarter results. - FY2026WorsenedAnnual report
「Revenue from the processed foods business declined because sales volumes fell amid sluggish consumer demand.」
Sluggish consumer demand was reflected in the full-year results as lower sales volumes and revenue in the processed foods business. - FY2026-H1WorsenedAnnual report
「Although sales volumes declined amid sluggish consumer demand, revenue from the processed foods business increased due to improvements in selling prices and other factors.」
Sluggish consumer demand was reflected in lower sales volumes in the processed foods business, while improved unit prices resulted in higher revenue, with the two effects occurring concurrently. - FY2025WorsenedAnnual report
「Lower sales volumes of premium domestic beef and imported beef due to weaker consumer sentiment」
The decline in consumer sentiment was reflected in lower sales volumes of premium domestic beef and imported beef, becoming a factor in lower profit in the domestic business. - FY2025-H1WorsenedAnnual report
「In the domestic business, revenue increased, but profit declined owing to lower sales volumes of premium domestic beef and imported beef resulting from weaker consumer sentiment, as well as lower profit in the domestic chicken production business due to persistently high feed prices.」
Weaker consumer sentiment reduced sales volumes of premium domestic beef and imported beef, while persistently high feed prices also contributed to lower profit in the domestic business. - FY2024-Q3WorsenedAnnual report
「Although consumers' purchasing appetite temporarily improved as social and economic activity normalized, thrift-oriented behavior in response to rising living costs gradually strengthened, and consumer sentiment has begun to stagnate.」
While purchasing appetite temporarily improved as social and economic activity normalized, the company clearly identifies thrift-oriented behavior in response to rising living costs and stagnating consumer sentiment, pointing to increasing concern about the demand environment. - FY2024-Q1Consumer recovery alongside concern about rising pricesAnnual report
「As social and economic activity normalized following the reclassification of COVID-19 as a Class 5 infectious disease, consumption showed some signs of recovery and the economy entered a moderate recovery trend. At the same time, surging resource prices driven by the unstable international situation and developments in the financial and foreign exchange markets continued to affect the domestic economy and prices.」
While consumption and the economy showed signs of recovery following the reclassification of COVID-19 as a Class 5 infectious disease, concerns about prices and the demand environment arising from surging resource prices and developments in the financial and foreign exchange markets persisted. - FY2023WorsenedAnnual report
「Economic conditions are expected to remain unpredictable, owing to rising prices, financial instability in Europe and the United States, and currency movements.」
The company continues to emphasize the uncertainty surrounding consumption and economic conditions caused by rising prices, financial instability and currency movements as a risk going forward. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter of the fiscal year, Japan's economy showed signs of recovery as social and economic activity normalized. However, prices continued to rise due to surging resource prices and the impact of the yen's depreciation, raising concern about a decline in consumer sentiment.」
The company continues to describe the normalization of social and economic activity and signs of economic recovery, while expressing concern about rising prices caused by surging resource prices and the yen's depreciation and the resulting decline in consumer sentiment. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy showed signs of recovery as social and economic activity normalized. However, prices continued to rise due to surging resource prices and the rapid depreciation of the yen, raising concern about a decline in consumer sentiment.」
The company describes a situation in which social and economic activity is normalizing and the economy is showing signs of recovery, while rising prices caused by surging resource prices and the rapid depreciation of the yen are raising concern about weaker consumer sentiment. - FY2023-Q1WorsenedAnnual report
「Consumer concern about rising prices, particularly for essential goods, has increased, and the outlook remains uncertain.」
The company explicitly identifies rising consumer concern about higher prices for essential goods as a factor behind the deterioration and increasing uncertainty of the demand environment. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained in a difficult situation due to the impact of COVID-19. Going forward, however, economic activity is expected to recover as restrictions on social and economic activity are eased with the thorough implementation of infection-control measures and progress in vaccinations.」
While continuing to describe the difficult economic conditions caused by the infectious disease, the company expresses expectations for an economic recovery as infection-control measures and vaccinations progress. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, Japan's economy remained in a difficult situation as social and economic activity was restricted by the impact of COVID-19. The outlook is also expected to remain uncertain until the impact of the disease is contained through measures such as vaccination.」
The company continues to describe demand and economic conditions in which social and economic activity is restricted by the infectious disease and uncertainty will continue until it is contained through measures such as vaccination. - FY2021-Q3WorsenedAnnual report
「As economic activity is being constrained by the resurgence of infections, conditions are expected to remain uncertain going forward.」
The company states that the resurgence of COVID-19 is constraining economic activity and that uncertainty surrounding economic and consumption conditions continues. - FY2021-Q2WorsenedAnnual report
「During the cumulative second quarter of the fiscal year, Japan's economy remained in a difficult situation due to the impact of COVID-19. Although efforts are under way to prevent the spread of infection while maintaining economic activity, the outlook remains uncertain, and conditions are expected to remain unclear as the timing of containment cannot be foreseen.」
The company states that the economy remains difficult due to the impact of COVID-19 and that uncertainty continues because the timing of containment cannot be foreseen. - FY2021-Q1WorsenedAnnual report
「In this industry, difficult business conditions continue despite expanding demand for stay-at-home consumption, as sales of business-use products for the food-service sector declined due to requests to refrain from going out and consumption was restrained by concerns about infectious diseases.」
In addition to the longstanding low-price orientation and challenging demand environment, restrictions on going out, concern about infectious diseases, declining sales of foodservice products and restrained consumer activity are emerging as actual deterioration in the business environment. - FY2020WorsenedAnnual report
「In this industry as well, business conditions have become even more difficult amid an expected decline in consumer sentiment, continued increases in labor and logistics costs due to labor shortages, and an uncertain outlook for raw material costs.」
In addition to the existing preference for low prices and difficult demand conditions, declining consumer sentiment and higher costs due to the COVID-19 pandemic are described as making the business environment even more challenging. - FY2020-Q2RestatedAnnual report
「As labor and logistics costs continue to rise amid labor shortages, consumers' strong preference for low prices for food and other everyday necessities remains, and difficult business conditions continue.」
The disclosure continues to describe difficult demand conditions in which higher costs due to labor shortages coexist with consumers' preference for low prices. - FY2020-Q1RestatedAnnual report
「In this industry, difficult business conditions continue as labor and logistics costs rise amid labor shortages, while consumers' strong preference for low prices for food and other everyday necessities persists.」
The disclosure continues to describe difficult business conditions in which higher costs due to labor shortages coexist with consumers' preference for low prices. - FY2019-Q3RestatedAnnual report
「In this industry, difficult business conditions continue as production costs, including raw materials, continue to rise and logistics costs remain high, while consumers' strong preference for low prices for food and other everyday necessities persists.」
Difficult demand conditions resulting from higher production and logistics costs and consumers' preference for low prices continue to be disclosed. - FY2019-Q2RestatedAnnual report
「Amid continued increases in production costs, including raw materials, and persistently high logistics costs, consumers' strong preference for low prices for food and other everyday necessities remains, and difficult business conditions continue.」
Difficult demand conditions resulting from higher production and logistics costs and consumers' preference for low prices continue to be disclosed. - FY2019-Q1RestatedAnnual report
「Amid continued increases in production costs, including raw materials, and persistently high logistics costs, consumers' strong preference for low prices for food and other everyday necessities remains, and difficult business conditions continue.」
Consumers' preference for low prices and difficult demand conditions continue to be described as part of the business environment. - FY2018RestatedAnnual report
「Demand is expected to remain weak as consumers become more focused on saving.」
The lack of strength in consumer demand due to increased frugality and preference for low prices continues to be described as part of the business environment. - FY2018-Q3RestatedAnnual report
「Consumers' strong preference for low prices for food and other everyday necessities remains, and difficult business conditions continue.」
Consumers' preference for low prices and difficult demand conditions are reiterated. - FY2018-Q1RestatedAnnual report
「In this industry, consumers' strong preference for low prices for food and other everyday necessities continues, while competition among companies is intensifying and difficult business conditions persist.」
Consumers' preference for low prices, intensifying competition among companies and difficult business conditions continue to be disclosed. - FY2017RestatedAnnual report
「Consumers' strong preference for frugality remains, and difficult business conditions are expected to continue, including ongoing intense price competition.」
Consumers' preference for frugality and difficult demand conditions continue to be described as part of the business environment. - FY2017-Q3RestatedAnnual report
「Under weak economic conditions, consumers may restrain spending and favor lower-priced products. If demand for the Group's products declines in Japan or other major markets, this may adversely affect the Group's operating performance and financial condition.」
The risk of declining demand due to economic recession, restrained consumer spending and preference for lower prices is reiterated. - FY2017-Q2RestatedAnnual report
「Under weak economic conditions, consumers may restrain spending and favor lower-priced products. If demand for the Group's products declines in Japan or other major markets, this may adversely affect the Group's operating performance and financial condition.」
The risk of declining demand due to economic recession, restrained consumer spending and preference for lower prices is reiterated. - FY2017-Q1First statedAnnual report
「If demand for the Group's products declines in Japan or other major markets, this may adversely affect the Group's operating performance and financial condition.」
The disclosure cites declining demand due to economic recessions in Japan and overseas, restrained consumer spending and preference for lower-priced products.