Sluggish dining-out market due to economic conditions
First written in FY2016. 9 of 35 entries say "Worsened", first in FY2020. Latest entry: FY2026.
Yakiniku Sakai Holdings moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 41 of 63 companies on the "Worse" side.
37 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Meanwhile, the outlook remains uncertain due to the impact of prolonged price increases on personal consumption, the unstable international situation, including heightened tensions in the Middle East, fluctuations in foreign exchange rates, and developments in U.S. trade policy.」
Price increases, the situation in the Middle East, foreign exchange rates and U.S. trade policy continued to be cited as factors contributing to uncertainty in the outlook for the food-service market. - 2026-06-01WorsenedGeneral Meetings of Shareholders
「中東情勢の緊迫化等の不安定な国際情勢や為替相場の変動、アメリカの通商政策の動向など、先行きは依然として不透明な状況が続いております。」
国際情勢、為替に加え、アメリカの通商政策を先行き不透明要因として継続記載した。 - FY2026-H1The impact of U.S. trade policy has become more specificAnnual report
「Meanwhile, the outlook remains extremely uncertain due to the prolonged rise in raw material and energy prices resulting from the unstable international situation and the weaker yen, as well as the impact of U.S. trade policy.」
In addition to the previously cited international situation, weaker yen and higher raw material and energy prices, the impact of U.S. trade policy was identified as a factor contributing to uncertainty in the economy and the food-service market. - FY2025Additional U.S. policy developmentsAnnual report
「The business environment surrounding the dining-out industry is expected to remain uncertain due to the continued global surge in raw material and energy prices associated with the prolonged situations in Ukraine and the Middle East, continued price increases caused by the weaker yen, and the impact of U.S. policy developments.」
In addition to the existing situation in Ukraine, the situation in the Middle East and the weaker yen, it explicitly identified U.S. policy developments as a source of uncertainty for the outlook. - FY2025-H1Additional deterioration in the situation in the Middle EastAnnual report
「On the other hand, the global surge in raw material and energy prices associated with the prolonged situation in Ukraine and the deterioration in the situation in the Middle East, as well as price increases caused by the weaker yen, continued, leaving the outlook extremely uncertain.」
It explicitly identified the deterioration in the situation in the Middle East, in addition to the existing situation in Ukraine and the weaker yen, as a source of uncertainty for the economy and dining-out market. - FY2024Recovery in personal consumption alongside uncertainty from costs and the weaker yenAnnual report
「Personal consumption showed signs of recovery as domestic mobility recovered following the easing of movement restrictions and inbound tourism demand increased. On the other hand, various costs, including labor costs, raw material prices, and utility costs, continued to rise, resulting in a difficult business environment.」
Recovery in personal consumption driven by domestic mobility and inbound tourism demand coexisted with a difficult environment caused by soaring labor costs, raw material prices and utility costs. - FY2024-Q3Recovery in personal consumption alongside uncertainty from costs and the weaker yenAnnual report
「Economic activity moved toward normalization and personal consumption showed a gradual recovery as movement restrictions were eased and inbound tourism demand recovered following the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5. On the other hand, the global surge in raw material and energy prices associated with the prolonged situation in Ukraine and price increases caused by the depreciation of the yen in foreign exchange markets continued, leaving the outlook extremely uncertain.」
While personal consumption showed signs of recovery as movement restrictions were eased and inbound tourism demand recovered, soaring raw material and energy prices and price increases caused by the weaker yen continued, resulting in persistent uncertainty. - FY2024-Q2Recovery in personal consumption alongside uncertainty from costs and the weaker yenAnnual report
「During the cumulative second quarter under review, personal consumption showed signs of recovery against the backdrop of normalized economic activity after various movement restrictions and entry restrictions were eased, including the easing of border control measures for entry into Japan from 29 April and the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5 on 8 May. On the other hand, price increases caused by soaring global raw material and energy prices associated with the prolonged situation in Ukraine and the weaker yen against the backdrop of the widening interest-rate differential between Japan and the United States continued, leaving the outlook extremely uncertain.」
While personal consumption showed signs of recovery following the easing of movement and entry restrictions, uncertainty persisted due to the situation in Ukraine, soaring raw material and energy prices, and the weaker yen and resulting price increases against the backdrop of the Japan-U.S. interest-rate differential. - FY2024-Q1Recovery from eased restrictions alongside continued uncertaintyAnnual report
「During the cumulative first quarter under review, moves toward normalizing economic activity emerged after various restrictions were eased, including the easing of border control measures for entry into Japan from 29 April and the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5 on 8 May. On the other hand, the outlook remained extremely uncertain as the global surge in raw material and energy prices associated with the prolonged situation in Ukraine continued, as did price increases caused by the weaker yen.」
While moves toward normalizing economic activity emerged following the easing of border control measures and the reclassification of the disease, uncertainty persisted due to the situation in Ukraine, soaring raw material and energy prices, and price increases caused by the weaker yen. - FY2023Recovery in economic activity alongside continued uncertaintyAnnual report
「During the consolidated fiscal year under review, signs of a gradual recovery emerged after priority preventive measures were lifted in March of the previous year and restrictions on economic activity were gradually eased. However, the outlook remained extremely uncertain, as COVID-19 cases increased again in the seventh wave from July and the eighth wave from October, while the global surge in raw material and energy prices associated with the prolonged situation in Ukraine continued.」
While economic activity recovered following the lifting of movement restrictions, uncertainty persisted due to the seventh and eighth waves, the situation in Ukraine, and soaring raw material and energy prices. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter under review, the outlook remained uncertain due to the global surge in raw material and energy prices associated with the prolonged situation in Ukraine, the renewed increase in COVID-19 cases in Japan caused by the seventh wave from July and the eighth wave from October, and the renewed increase in cases in China from December onward.」
In addition to the situation in Ukraine and soaring raw material and energy prices, the seventh and eighth waves in Japan and the renewed spread of infections in China were added and specified as sources of uncertainty for the outlook for the economy and dining-out market. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter under review, signs of a gradual recovery emerged as restrictions on economic activity were gradually eased following the lifting of priority preventive measures in March. However, the outlook remained uncertain due to the global surge in raw material and energy prices associated with the prolonged situation in Ukraine, a renewed increase in COVID-19 cases caused by the seventh wave, and the rapid depreciation of the yen.」
While signs of recovery emerged as restrictions on economic activity were eased, uncertainty about the economy and dining-out market persisted due to the situation in Ukraine, soaring resource prices, the seventh wave and the rapid depreciation of the yen. - FY2023-Q1Concern about the impact of the sharply weaker yen on personal consumptionAnnual report
「Concerns over the tense global situation and the resulting surge in resource prices, including crude oil, and raw material prices, as well as the impact of the yen's sharp depreciation on personal consumption, mean that the uncertain outlook continues.」
It explicitly identified the impact of the sharply weaker yen on personal consumption, in addition to global tensions and soaring resource prices, as a source of uncertainty for the outlook for the economy and dining-out market. - FY2022Additional global tensions and soaring resource pricesAnnual report
「During the consolidated fiscal year under review, Japan’s economic activity was significantly affected not only by the prolonged spread of COVID-19, but also by heightened global tensions and the resulting surge in crude oil and other resource prices and raw material prices.」
In addition to COVID-19, it added heightened global tensions and soaring resource and raw material prices, including crude oil, as sources of uncertainty for the dining-out market. - FY2022-Q3Additional uncertainty from new variantsAnnual report
「Economic activity in Japan resumed after 1 October, when the state of emergency and priority preventive measures had been lifted in all prefectures, and signs of a gradual recovery emerged. However, the outlook remained extremely uncertain due to concerns about a renewed spread of infections caused by a highly transmissible new variant.」
While indicating the resumption of economic activity and signs of recovery after the restrictions were lifted, it added concerns about a renewed spread of infections caused by a new variant as a source of economic uncertainty. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter under review, the re-expansion from mid-July of the areas covered by the state of emergency, which had been lifted except in Okinawa Prefecture, and priority preventive measures, in response to a renewed increase in COVID-19 cases, again had a major impact on economic activity. Although the state of emergency and priority preventive measures were lifted sequentially in the affected areas from mid-September as cases declined, the outlook remained extremely uncertain due to concerns about a sixth wave.」
It stated that the re-expansion of the areas covered by the state of emergency and priority preventive measures, and concerns about a sixth wave, had sustained uncertainty about the outlook for the economy and personal consumption. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan’s economy remained extremely uncertain. As the spread of COVID-19 continued for an extended period, the area covered by the third state of emergency issued in late April was expanded to 10 prefectures in May. Although the state of emergency was lifted in late June except in Okinawa Prefecture, the application of priority preventive measures continued in 5 prefectures even after the lifting.」
In addition to the prolonged COVID-19 pandemic, it stated that the expansion of the areas covered by the third state of emergency and the continuation of priority preventive measures had sustained uncertainty about the economy and personal consumption. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter under review, Japan’s economy remained extremely uncertain, as economic activity declined rapidly after countries imposed measures such as travel and movement restrictions in response to the global spread of COVID-19, while the number of cases in Japan began to increase sharply from November onward.」
In addition to the rapid decline in economic activity caused by COVID-19, it explicitly cited the sharp increase in cases in Japan from November onward, indicating that uncertainty about the outlook for the economy and dining-out market had increased further. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter under review, Japan’s economy faced extremely severe conditions, as the global spread of COVID-19 heightened social anxiety domestically and caused economic activity to decline rapidly. Economic activity in Japan resumed after the state of emergency was lifted in late May, but the outlook for the economy remained extremely uncertain due to concerns about a second and third wave.」
In addition to the existing uncertainty surrounding economic conditions and consumer trends, it explicitly described the rapid decline in economic activity caused by COVID-19 and concerns about a second and third wave, indicating that risks to the economy and dining-out market had intensified. - FY2020WorsenedAnnual report
「During the consolidated fiscal year under review, Japan’s economy saw improvements in employment and income conditions. However, the outlook remained uncertain due to uncertainty in overseas political and economic conditions, including the prolonged trade friction between the United States and China and the United Kingdom’s departure from the EU, the consumption tax increase in October 2019, and the global spread of COVID-19.」
In addition to the existing uncertainty arising from overseas conditions and the consumption tax increase, it explicitly identified the global spread of COVID-19 as a source of uncertainty for the economy and the dining-out market. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan’s economy remained on a gradual recovery track, with improvements in employment and income conditions. However, the outlook remained uncertain due to uncertainty in overseas political and economic conditions, including the prolonged trade friction between the United States and China.」
While indicating improvements in employment and income conditions and a recovery trend in the economy, it continued to describe uncertainty about the outlook arising from factors including the prolonged trade friction between the United States and China. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan’s economy remained on a gradual recovery track, with continued improvements in employment and income conditions. However, uncertainty about the outlook increased further due to uncertainty in overseas political and economic conditions, including trade friction between the United States and China.」
While indicating improvements in employment and income conditions, it maintained the view that uncertainty about the outlook would increase due to uncertainty in overseas conditions, including trade friction between the United States and China. - FY2020-Q1Further increase in uncertainty about the outlookAnnual report
「During the cumulative first quarter under review, Japan’s economy remained on a gradual recovery track, with continued improvements in employment and income conditions. However, uncertainty about the outlook increased further due to uncertainty in overseas political and economic conditions, including trade friction between the United States and China.」
It stated that uncertainty about the outlook had increased further due to uncertainty in overseas conditions, including trade friction between the United States and China. - FY2019Explicit reference to US-China trade frictionAnnual report
「However, many issues, including the unresolved trade friction between the United States and China and the United Kingdom’s departure from the EU, remain unresolved, and the outlook continues to be uncertain.」
It newly identified trade friction between the United States and China as a source of uncertainty for the economic outlook and listed it alongside the United Kingdom’s departure from the EU. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, Japan’s economy entered a gradual recovery phase as corporate earnings and the employment environment improved, but the recovery in personal consumption stalled, and the outlook remained uncertain.」
While indicating improvements in corporate earnings and the employment environment, it reiterated the stalled recovery in personal consumption and the uncertain outlook. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan’s economy entered a gradual recovery phase as corporate earnings and the employment environment improved, but the recovery in personal consumption stalled, leaving the outlook uncertain.」
While indicating improvements in corporate earnings and the employment environment, it stated that the recovery in personal consumption had stalled and that the outlook remained uncertain. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan’s economy entered a gradual recovery phase as corporate earnings and the employment environment improved, but the recovery in personal consumption stalled, leaving the outlook uncertain.」
While indicating improvements in corporate earnings and the employment environment, it stated that the recovery in personal consumption had stalled and that the outlook remained uncertain. - FY2018-Q3Additional tension in the global situationAnnual report
「During the cumulative third quarter under review, Japan’s economy remained on a gradual recovery track, supported by the effects of the government’s economic policies and monetary policy, with improvements in corporate performance and employment conditions. However, the outlook remained uncertain due to tensions in the global situation.」
While indicating improvements in corporate performance and employment conditions, it specified tensions in the global situation as a source of uncertainty for the outlook. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan’s economy entered a gradual recovery phase as corporate earnings and the employment environment improved, but the recovery in personal consumption stalled, and the outlook remained uncertain.」
While indicating improvements in corporate earnings and the employment environment, it stated that the recovery in personal consumption had stalled and that the outlook remained uncertain. - FY2018-Q1Further detail on the stagnation in the recovery of personal consumptionAnnual report
「During the cumulative first quarter under review, Japan’s economy entered a gradual recovery phase as corporate earnings and the employment environment improved, but the recovery in personal consumption stalled, leaving the outlook uncertain.」
While indicating improvements in corporate earnings and the employment environment, it identified the stalled recovery in personal consumption as a source of economic uncertainty. - FY2017Additional uncertainty arising from the new U.S. administrationAnnual report
「The outlook for the economy remains uncertain, partly due to growing uncertainty in the global economy arising from the impact of the new U.S. administration.」
It newly specified the impact of the new U.S. administration as a source of economic uncertainty. - FY2017-Q3Further detail on overseas political and foreign-exchange factorsAnnual report
「On the other hand, uncertainty continues, as political developments overseas have caused fluctuations in foreign exchange rates and share prices to have a major impact on the economy.」
It specified fluctuations in foreign exchange rates and share prices stemming from overseas political developments as sources of economic uncertainty. - FY2017-Q2Further detail on global economic and inbound tourism factorsAnnual report
「During the cumulative second quarter under review, Japan’s economy was on a gradual recovery track against the backdrop of the government’s economic policies, and personal consumption showed signs of improvement as employment and income conditions remained firm. On the other hand, weakness emerged in the global economy, including downturns in China and other emerging Asian economies and resource-producing countries, while the continued tendency toward a stronger yen and growing economic uncertainty weighed on the economy, leaving consumer sentiment unable to emerge from its stagnant state. The outlook therefore remained uncertain.」
While indicating improvements in economic conditions and income, it added downturns in China and elsewhere, the stronger yen and stagnant consumer sentiment as specific sources of uncertainty. - FY2017-Q1Greater Specificity in Sources of UncertaintyAnnual report
「Japan’s economy is on a gradual recovery track, supported by the effects of the government’s economic policies and monetary policy, with improvements in corporate performance and employment conditions. On the other hand, the outlook remains uncertain due to the impact of global economic uncertainty arising from the tendency toward a stronger yen and the decision by the United Kingdom to leave the EU.」
While describing the economy as being on a recovery track, it identified the stronger yen and the United Kingdom’s decision to leave the EU as specific sources of uncertainty for the global economy. - FY2016First statedAnnual report
「The dining-out market may be affected by changes in the employment environment and wage income. There have also been instances in the past in which economic downturns led to higher unemployment and lower incomes, reducing the proportion of consumer spending allocated to dining out.」
It stated that demand for dining out may decline through changes in employment and income.