Weak Personal Consumption Due to Higher Resource Prices, Inflation and Slower Recovery in Employment and Income
First written in FY2022-Q3. 5 of 10 entries say "Restated". Latest entry: FY2026-H1.
Soiken Holdings 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: 40 of 57 companies on the "Worse" side.
37 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period under review, Japan's economy maintained a gradual recovery trend due to improvements in employment and income conditions. However, the outlook remained uncertain due to downside risks to the economy from the impact of U.S. trade policies and the effects of continued price and interest-rate increases on corporate economic activity and personal consumption.」
While the filing describes improvements in employment and income conditions and a recovery trend in the economy, downside risks from U.S. trade policy, continued price increases, and rising interest rates were newly identified as sources of uncertainty. - FY2025-H1Economic improvement factors and sources of uncertainty coexistAnnual report
「During the interim consolidated accounting period under review, Japan's economy showed signs of a gradual recovery as economic activity moved toward normalization and corporate earnings and employment and income conditions improved. However, the outlook remained uncertain due to the impact of surging raw-material and energy prices, rising prices, and currency fluctuations.」
The filing describes the normalization of economic activity and improvements in corporate earnings and employment and income conditions, while uncertainty due to surging raw-material and energy prices, rising prices, and currency fluctuations continues. - FY2024WorsenedAnnual report
「During the consolidated fiscal year under review, Japan's economy was gradually returning to normal as restrictions on movement related to COVID-19 were eased. However, the outlook for the economy remained uncertain due to sharp currency fluctuations accompanying global monetary tightening, surging resource and energy prices, heightened tensions in the Middle East, and concerns about the outlook for the Chinese economy.」
While the filing describes the normalization of economic activity, heightened tensions in the Middle East and concerns about the outlook for the Chinese economy were newly identified in addition to sharp currency fluctuations and surging resource and energy prices, broadening the scope of external-environment risks. - FY2024-Q2RestatedAnnual report
「During the first half of the current consolidated fiscal year, the transition of COVID-19 to Category 5 under Japan’s Infectious Diseases Control Law put economic activity on a path toward normalization and the economy showed signs of a gradual recovery. However, the outlook remained uncertain due to soaring raw material and energy prices and rising prices, among other factors.」
While economic activity is moving toward normalization, uncertainty in the external environment due to surging raw-material and energy prices and rising prices continues. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the transition of COVID-19 to Category 5 under Japan’s Infectious Diseases Control Law put economic activity on a path toward normalization and the economy showed signs of a gradual recovery. However, the outlook remained uncertain due to soaring raw material and energy prices and rising prices, among other factors.」
While economic activity is moving toward normalization, uncertainty in the external environment due to surging raw-material and energy prices and rising prices continues. - FY2023RestatedAnnual report
「During the consolidated fiscal year under review, Japan's economy was gradually returning to normal as restrictions on movement related to COVID-19 were eased. However, the outlook for the economy remained uncertain due to sharp currency fluctuations accompanying global monetary tightening and surging resource and energy prices.」
While economic activity is moving toward normalization following the easing of movement restrictions, external-environment risks from global monetary tightening, sharp currency fluctuations, and surging resource and energy prices continue. - FY2023-Q3RestatedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, restrictions on activity related to COVID-19 were eased and economic activity was gradually normalizing. However, the outlook for the economy remained uncertain due to sharp foreign-exchange fluctuations associated with global monetary tightening and soaring resource and energy prices, among other factors.」
While the easing of movement restrictions indicates a move toward the normalization of economic activity, external-environment risks from sharp currency fluctuations and surging resource and energy prices continue. - FY2023-Q2RestatedAnnual report
「During the first half of the current consolidated fiscal year, restrictions on activity related to COVID-19 were eased and economic activity was gradually normalizing. However, the outlook for the economy remained uncertain due to sharp foreign-exchange fluctuations and soaring resource and energy prices, among other factors.」
While the easing of movement restrictions indicates a move toward normalization, external-environment risks from sharp currency fluctuations and surging resource and energy prices continue. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated fiscal year, restrictions on activity related to COVID-19 were eased and the economy showed signs of recovery. However, the outlook remained uncertain due to rising raw material prices and the rapid depreciation of the yen, among other factors.」
In addition to the previously identified surging resource prices and rising prices, a rapid depreciation of the yen was explicitly identified as a factor contributing to uncertainty in the external environment. Even with the easing of movement restrictions related to the pandemic, cost and foreign-exchange risks remain. - FY2022-Q3First statedAnnual report
「During the first 3 quarters of the current consolidated fiscal year, Japan’s economy generally remained sluggish. Consumption and corporate activity were significantly constrained by the fifth and sixth waves of COVID-19, while personal consumption also struggled to grow due to rising prices associated with soaring resource prices and other factors, as well as the slowing recovery in employment and income conditions.」
Separate from the pandemic, surging resource prices, rising prices, and a slowdown in the recovery of employment and income conditions were explicitly identified for the first time as external risks weighing on personal consumption, and the filing states that the economy remained sluggish.