Impact of Declining Private Consumption and Deflation on Performance
First written in FY2016. 2 of 5 entries say "Worsened", first in FY2018. Latest entry: FY2023.
Coca-Cola Bottlers Japan Holdings moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 53 of 68 companies on the "Worse" side.
19 other companies' latest entry also says "Worsened".
- FY2023WorsenedAnnual report
「The company is being affected by the反動 from the record extreme heat in 2023 and the decline in consumer sentiment resulting from domestic inflation, including beverage price revisions, and expects the 2024 market size to decline slightly from 2023 on a volume basis.」
The general risk of declining personal consumption and deflation has been specified as declining consumer sentiment due to price revisions and domestic inflation, with the 2024 market expected to decline slightly. - FY2018WorsenedAnnual report
「Looking ahead, Japan's domestic soft drinks market is expected to contract slightly from the previous fiscal year due to the反動 from increased demand caused by the previous year's extreme heat, the impact on consumer sentiment of the consumption tax rate increase scheduled for October, and the planned price revisions for certain products by soft drinks companies, including the company, against a backdrop of higher raw material and logistics costs.」
In addition to the conventional general risks of recession and declining consumption, the company specifically describes the反動 from extreme heat, the 2019 consumption tax rate increase, the impact of price revisions on consumer sentiment and the expected market contraction. - FY2017RestatedAnnual report
「If personal consumption declines rapidly due to a stagnant Japanese economy, an increase in the consumption tax rate or other factors, or if prices for the company's products fall as deflation progresses, the Group's operating results could be affected.」
The risk of an impact on operating results from declining personal consumption and deflation continues as a separate risk item from the description of an economic recovery. - FY2017-Q3SoftenedAnnual report
「During the current third-quarter cumulative consolidated period, Japan's economy continued on a gradual recovery trend, with employment and income conditions continuing to improve and consumer sentiment showing signs of recovery in personal consumption.」
In response to the risk factors behind a decline in personal consumption, the company describes improvements in employment and income conditions and consumer sentiment, as well as a gradual economic recovery. - FY2016First statedAnnual report
「If personal consumption declines rapidly due to a stagnant Japanese economy, an increase in the consumption tax rate or other factors, or if prices for the company's products fall as deflation progresses, the Group's operating results could be affected.」
The company identifies the effects of a stagnant Japanese economy, an increase in the consumption tax rate and deflation on personal consumption and product prices as risks.