Sluggish Personal Consumption, Rising Raw-Material Prices and Intensifying Competition
First written in FY2016. 20 of 40 entries say "Restated". Latest entry: FY2027-H1.
Kanemi 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 17 companies on the "Worse" side.
9 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「During the interim accounting period, Japan’s economy remained on a moderate recovery track against a backdrop of improving employment and income conditions. However, persistently high energy and resource prices resulting from prolonged geopolitical risks, unstable currency movements, successive natural disasters, and the increased burden on households from continued price increases led consumers to become increasingly focused on protecting their livelihoods.」
It describes an economic environment in which geopolitical risks, energy and resource prices, foreign exchange movements, natural disasters, and rising prices were accompanied by a further increase in consumers’ focus on protecting their livelihoods. - 2026-10-09RestatedEarnings
「原材料価格やエネルギーコスト、物流費及び人件費の高止まりが継続したほか、長引く物価高騰を背景に消費マインドが冷え込むなか、付加価値や利便性を重視する消費行動も見られるなど、消費者ニーズは一層多様化しており、事業環境は引き続き厳しい状況で推移いたしました。」
コスト高止まり、物価高騰、消費マインド低迷を厳しい事業環境として継続して記載した。 - FY2026WorsenedAnnual report
「In addition to concerns about a slowdown in the global economy resulting from the effects of U.S. tariff policies, the economic impact of deteriorating Japan-China relations, and prolonged geopolitical risks, particularly in the Middle East, risks of downside pressure on consumer sentiment from rising prices increased, and the economic outlook remained uncertain.」
In addition to the previously identified high prices, weak consumer sentiment, and competitive environment, it explicitly identifies U.S. tariff policies, deteriorating Japan-China relations, geopolitical risks including those in the Middle East, and downside risk to consumer sentiment. - FY2026-H1WorsenedAnnual report
「Although raw-material and energy prices remained persistently high, the yen’s depreciation and increases in logistics costs and personnel expenses kept companies’ cost burdens at elevated levels. In addition, prolonged price inflation further strengthened consumers’ thrift-oriented spending, and challenging operating conditions continued.」
In addition to persistently high raw-material and energy prices, it explicitly identifies the yen’s depreciation and increases in logistics costs and personnel expenses, and describes further strengthening of thrift-oriented spending due to prolonged price inflation. - FY2025WorsenedAnnual report
「The Company operates in Japan’s prepared-food market, which has continued to expand for more than the past 10 years. However, against a backdrop of population decline resulting from the declining birthrate and aging population over the medium to long term, and increased food-handling volumes by companies from other industries, the possibility that the Company’s own market size will contract over the medium to long term cannot be ruled out.」
While acknowledging continued growth in the overall prepared-food market, it newly explicitly identifies the possibility that the Company’s market size will contract over the medium to long term against a backdrop of the declining birthrate and aging population, population decline, and entry by companies from other industries. - FY2025-H1RestatedAnnual report
「The environment remained challenging due to higher procurement prices resulting from soaring raw-material and energy prices, rising logistics costs and personnel expenses, and growing thrift-oriented spending resulting from prolonged price inflation.」
It describes raw-material and energy prices, rising logistics costs and personnel expenses, and thrift-oriented spending resulting from prolonged price inflation as a continuing challenging business environment. - FY2025-Q1WorsenedAnnual report
「The environment remained challenging due to higher procurement prices resulting from soaring raw-material and energy prices, chronic labor shortages, and weak personal consumption caused by the continued decline in real wages.」
It explicitly identifies soaring raw-material and energy prices, chronic labor shortages, and weak personal consumption resulting from the continued decline in real wages, further specifying the risks related to cost inflation, staffing, and weak consumption. - FY2024WorsenedAnnual report
「The environment remained challenging due to sluggish consumer sentiment resulting from efforts to pass rising raw-material and logistics costs through to product prices, as well as further increases in personnel and recruitment costs.」
In addition to the previously identified increases in raw-material and energy prices, it explicitly identifies rising logistics, personnel, and recruitment costs, together with stagnating consumer sentiment resulting from price pass-through. - FY2024-Q3WorsenedAnnual report
「The environment remained challenging due to sluggish consumer sentiment resulting from efforts to pass rising raw-material and logistics costs through to product prices, as well as further increases in personnel and recruitment costs.」
In addition to the previously identified increases in raw-material and energy prices, it explicitly identifies rising logistics, personnel, and recruitment costs, together with the resulting stagnation in consumer sentiment. - FY2024-Q2Explicit identification of rising labor costsAnnual report
「Although a recovery in personal consumption was seen in the industry, the environment remained challenging due to rising raw-material and labor costs, as well as soaring energy prices.」
While acknowledging a recovery in personal consumption, it explicitly adds rising labor costs to the previously identified soaring raw-material and energy prices, stating that challenging industry conditions continue. The cost-inflation risk has been further specified. - FY2024-Q1WorsenedAnnual report
「In the industry, competition across business formats continued even after the COVID-19 pandemic, while successive price revisions resulting from soaring raw-material and energy prices strengthened consumers’ thrift-oriented spending, and challenging conditions continued.」
It describes competition across business formats, soaring raw-material and energy prices, successive price revisions, and stronger thrift-oriented spending by consumers, indicating that the existing competition, cost-inflation, and weak-consumption risks continue. - FY2023WorsenedAnnual report
「In the industry, companies were required to respond to changes in consumer demand during the COVID-19 pandemic. As competition across business formats intensified, soaring raw-material and energy prices and successive food price increases strengthened consumers’ thrift-oriented spending, and challenging conditions continued.」
It describes intensified competition across business formats, soaring raw-material and energy prices, successive food price increases, and stronger thrift-oriented spending by consumers. - FY2023-Q3WorsenedAnnual report
「In the industry, companies were required to respond to changes in consumer demand during the COVID-19 pandemic. As raw-material and energy prices rose, concerns about further price increases strengthened consumers’ thrift-oriented spending, and challenging conditions continued.」
It describes stronger thrift-oriented spending by consumers against a backdrop of concerns about further price increases, in addition to rising raw-material and energy prices, indicating that the risks of cost inflation and weak consumption have worsened. - FY2023-Q2RestatedAnnual report
「In the industry, companies were required to respond promptly to changing and increasingly diverse consumer needs during the COVID-19 pandemic. As competition across business formats intensified, soaring raw-material and energy prices kept the operating environment challenging.」
It describes intensified competition across business formats and soaring raw-material and energy prices as a continuing challenging business environment. - FY2023-Q1WorsenedAnnual report
「In the industry, companies were required to respond to changes in consumer demand during the COVID-19 pandemic. As competition across business formats intensified, soaring raw-material and energy prices kept the operating environment challenging.」
In addition to intensified competition across business formats, it explicitly identifies soaring raw-material and energy prices, indicating that the existing competition and cost-inflation risks have worsened. - FY2022RestatedAnnual report
「In the industry, the overall food market changed as new lifestyles became established, with more cooking at home and greater use of takeout and delivery for restaurant meals. Competition across traditional industry boundaries intensified, and the operating environment remained challenging.」
It continues to recognize a challenging environment, with more cooking at home, expanded takeout and delivery, and intensifying cross-industry competition. - FY2022-Q2RestatedAnnual report
「The industry required thorough infection-control measures and a flexible, prompt response to rising demand for home cooking. Sales competition across industries and business formats intensified further, and conditions remained challenging.」
It continues to recognize that, while companies are required to respond to rising demand for home cooking, sales competition across industries and business formats is intensifying further. - FY2022-Q1WorsenedAnnual report
「The industry required thorough infection-control measures and a flexible, prompt response to rising demand for home cooking. Sales competition across industries and business formats intensified further, and conditions remained challenging.」
It states that, while companies were required to respond to rising demand for home cooking, sales competition across industries and business formats intensified further. - FY2021-Q3RestatedAnnual report
「In the industry, the effects of requests to refrain from going out led to a shift in demand toward home cooking and greater use of takeout and delivery by restaurants. As a result, sales competition across traditional industry boundaries intensified, and the business environment surrounding the Company remained challenging.」
It describes the shift in demand toward home cooking and intensifying cross-industry sales competition resulting from restaurants strengthening their takeout and delivery offerings as a continuing challenging business environment. - FY2021-Q2RestatedAnnual report
「Although demand for prepared foods increased in the industry due to the effects of requests to refrain from going out, the practice of enjoying restaurant meals at home through delivery services and takeout became established. Competition across traditional industry boundaries among a range of food-related companies intensified, and the business environment surrounding the Company remained challenging.」
Although demand for prepared foods increased, the business environment remained challenging as delivery and takeout became established and cross-industry competition among food-related companies intensified. - FY2021-Q1WorsenedAnnual report
「In the industry, competition across traditional industry boundaries among a range of food-related companies intensified in response to changes in consumer purchasing patterns following requests to suspend operations and refrain from going out accompanying the state of emergency declared in April, and the business environment surrounding the Company remained challenging.」
In addition to changes in purchasing patterns resulting from the state of emergency and other factors, it describes intensified cross-industry competition among food-related companies. - FY2020RestatedAnnual report
「In the business environment surrounding the industry, adverse weather, natural disasters, and the consumption tax increase were weighing on consumer sentiment,」
It identifies adverse weather, natural disasters, and the consumption tax increase as continuing factors weighing on consumer sentiment and the business environment. - FY2020-Q3MaterialisedAnnual report
「The business environment remained challenging, with consumer sentiment stagnating following the consumption tax increase, new entrants from other industries entering the prepared-food market, and competition among companies intensifying.」
It describes the previously anticipated stagnation in consumer sentiment following the consumption tax increase as a business-environment issue, while also confirming new entrants from other industries into the prepared-food market and intensifying competition among companies. - FY2020-Q2RestatedAnnual report
「Although signs of a recovery in personal consumption were seen, consumer sentiment weakened ahead of the consumption tax increase, and conditions remained challenging.」
While personal consumption showed signs of recovery, it describes weakening consumer sentiment ahead of the consumption tax increase as a continuing challenging business environment. - FY2019WorsenedAnnual report
「In addition to concerns about a cooling of consumption following the consumption tax increase scheduled for October, conditions are expected to remain challenging, as competition for survival among businesses in the industry intensifies further amid a saturated store environment.」
In addition to the existing thrift-oriented spending and weak consumer sentiment, it adds a post-tax-increase cooling of consumption and intensifying competition among stores as future concerns. - FY2019-Q4RestatedAnnual report
「The business environment remained challenging, as consumer sentiment was sluggish against a backdrop of rising consumer prices and growing concerns about a consumption tax increase.」
It describes sluggish consumer sentiment against a backdrop of rising consumer prices and concerns about a consumption tax increase as a continuing challenging business environment. - FY2019-Q3RestatedAnnual report
「The business environment remained challenging, as persistently high energy prices, rising prices, and concerns about a consumption tax increase contributed to prolonged thrift-oriented spending, while the improvement in consumer sentiment lacked momentum.」
It identifies thrift-oriented spending and weak consumer sentiment, against a backdrop of persistently high energy prices, rising prices, and concerns about a consumption tax increase, as ongoing business-environment risks. - FY2019-Q2RestatedAnnual report
「The business environment remained challenging, as higher consumer prices resulting from rising energy prices and other factors contributed to continued thrift-oriented spending, with consumer sentiment showing signs of stagnation.」
It describes higher prices resulting from rising energy prices and other factors, thrift-oriented spending, and stagnant consumer sentiment as a continuing challenging business environment. - FY2018RestatedAnnual report
「Although some signs of a recovery in personal consumption were seen, consumer sentiment remained sluggish and conditions continued to be challenging, owing mainly to elevated consumer prices driven by persistently high crude oil prices and rising vegetable prices, as well as continued thrift-oriented spending amid concerns about the future.」
While acknowledging a partial recovery in personal consumption, it identifies rising crude oil and vegetable prices, higher consumer prices, and sluggish consumer sentiment due to concerns about the future and continued thrift-oriented spending as ongoing business-environment risks. - FY2018-Q4RestatedAnnual report
「The recovery in personal consumption slowed against a backdrop that included continued consumer frugality due to growing concerns about the future, resulting in continued challenging conditions.」
The Company continues to describe consumer frugality driven by concerns about the future and the slowing recovery in personal consumption as a challenging business environment. - FY2018-Q3RestatedAnnual report
「Although improvements in employment and income conditions continued, consumer sentiment remained sluggish against a backdrop of concerns about the future, and challenging conditions persisted.」
While acknowledging improvements in employment and income conditions, the Company continues to describe sluggish consumer sentiment against a backdrop of concerns about the future as a challenging business environment. - FY2018-Q2RestatedAnnual report
「As uncertainty about the outlook increased further, consumers' preference for thrift remained strong, consumption lacked momentum, and conditions remained challenging.」
The Company continues to describe consumers' preference for thrift and weak consumption trends as a challenging business environment. - FY2017RestatedAnnual report
「With concerns about the future unresolved, consumers' preference for thrift remained strong, personal consumption showed signs of stagnation in its recovery, and conditions remained challenging.」
The Company continued to cite consumers' preference for thrift and stagnation in personal consumption as concerns in the business environment. - FY2017-Q4RestatedAnnual report
「Although personal consumption was showing signs of recovery as employment and income conditions remained firm, consumers' preference for thrift remained strong amid growing concerns about the future, and challenging conditions continued.」
Although personal consumption showed signs of recovery, consumers' preference for thrift and challenging conditions continued. - FY2017-Q3RestatedAnnual report
「The recovery in personal consumption lacked momentum due to consumers' persistent preference for thrift and unsettled weather, and challenging conditions continued.」
Consumers' preference for thrift and weakness in personal consumption continued, with unsettled weather also contributing to the situation. - FY2017-Q2RestatedAnnual report
「Although employment and income conditions were gradually improving, consumers continued to favor thrift and personal consumption showed signs of stagnation, resulting in continued challenging conditions.」
The Company explained that consumers' preference for thrift and stagnation in personal consumption continued. - FY2016First statedAnnual report
「The business environment remained uncertain, with sluggish personal consumption amid persistent concerns about rising prices, along with higher raw material prices and intensifying competition with other companies.」
The Company continues to identify consumption, raw materials and the competitive environment as risks in its business environment.