Front-loaded demand and the subsequent pullback in purchases caused by a consumption tax rate increase
First written in FY2020-Q1. 2 of 4 entries say "Reframed", first in FY2020-Q3. Latest entry: FY2020.
The whole theme swung hardest in 2026: 4 of 7 companies on the "Worse" side.
5 other companies' latest entry also says "Reframed".
- FY2020ReframedAnnual report
「In the general consumer goods distribution industry, in which the company's business is primarily engaged, the business was affected not only by the consumption tax increase but also by the subsequent loss of inbound demand caused by the spread of COVID-19, sluggish personal consumption due to restrictions on going out, and a sharp increase in demand for infection-control products such as masks and disinfectant and hygiene products. These products were temporarily unavailable in stores as consumers increasingly stocked up.」
The explanation changed from one describing the demand impact of the consumption tax increase to one that also cited sluggish personal consumption and a sharp increase in, and shortages of, products for infectious disease countermeasures amid the COVID-19 pandemic. - FY2020-Q3ReframedAnnual report
「The consumer goods distribution industry, which is central to our business, was affected not only by the consumption tax increase but also by the subsequent disappearance of inbound demand and restrictions on domestic consumer activity resulting from the spread of COVID-19.」
The explanation of the demand impact of the consumption tax increase was expanded to include the disappearance of inbound demand and restrictions on domestic consumer activity resulting from the spread of COVID-19. - FY2020-Q2RestatedAnnual report
「In the consumer goods distribution industry, which is central to our business, we saw a temporary decline in demand due to the consumption tax increase.」
The company continues to cite the temporary decline in demand following the consumption tax rate increase as a market trend in the current quarter. - FY2020-Q1First statedAnnual report
「In the consumer goods distribution industry, which is central to our business, we observed front-loaded demand following the consumption tax rate increase and a subsequent pullback in purchases.」
The company states that front-loaded demand and a subsequent pullback in purchases following the consumption tax rate increase were observed as actual market trends.