Intensifying Competition and Consumer Preference for Low Prices in the Food-Service Industry
First written in FY2017. 7 of 13 entries say "Restated". Latest entry: FY2024.
Y's table moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 41 of 48 companies on the "Worse" side.
21 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「In the food service industry, consumer demand for eating out recovered as economic activity normalized, although a slowdown was also seen due to the extreme heat from July to August 2023 and the spread of COVID-19. Labor shortages and higher food and other input costs have continued, and the business environment remains severe.」
The Company continued to disclose the recovery and temporary slowdown in demand for eating out, as well as the severe competitive and business environment caused by labor shortages and higher food costs. - FY2024-Q3RestatedAnnual report
「In the food service industry, consumer demand for eating out recovered as economic activity normalized, although a slowdown was also seen due to the extreme heat from July to August 2023 and the spread of COVID-19. Labor shortages and higher food and other input costs have continued, and the business environment remains severe.」
The Company continued to disclose a severe competitive and business environment, despite the recovery in demand for eating out, due to a slowdown in demand, labor shortages and higher food and other input costs. - FY2023RestatedAnnual report
「Demand for delivery services eased as dine-in operations recovered. Meanwhile, competition among the many operators that entered the market during the COVID-19 pandemic remained severe, and revenue fell below the level recorded in the fiscal year ended February 2020.」
The Company continued to disclose the easing of delivery demand following the recovery of dine-in operations and the severe competition following the increase in market entrants. - FY2023-Q2RestatedAnnual report
「In the food service industry, requests for operating restrictions were lifted and customer visits began to show signs of recovery. However, the competitive environment remains severe due to stagnant consumer activity following the resurgence of COVID-19, rising prices and worsening labor shortages.」
The Company continued to disclose a severe competitive environment, noting signs of recovery following the lifting of operating restrictions but also the resurgence of infections, rising prices and worsening labor shortages. - FY2023-Q1WorsenedAnnual report
「In the food service industry, requests for operating restrictions have been lifted and customer visits have begun to show signs of recovery, but the recovery remains gradual, while support programs such as cooperation payments have ended, and the competitive environment remains severe.」
The Company disclosed that customer visits have recovered slowly even after operating restrictions were lifted, while the end of support programs such as cooperation payments has contributed to the continued severe competitive environment. - FY2022WorsenedAnnual report
「The food service industry has historically faced intense competition because barriers to entry are low and new entrants are numerous compared with other industries. As the COVID-19 pandemic has continued to recur, however, the frequency with which consumers eat out has declined with the spread of teleworking, and more people have avoided dining in large groups, reducing demand for eating out and further intensifying competition. Demand for delivery services remains high, but competition has increased as delivery service providers have expanded their operations, while securing delivery personnel has also become difficult, making the competitive environment increasingly severe.」
In addition to declining demand for eating out, competition has become more intense and the related risks more concrete due to the expanding entry of delivery service providers and difficulty securing personnel. - FY2022-Q1WorsenedAnnual report
「Demand for delivery and takeout, which had remained higher than in the previous year, rose again as restaurants closed following the declaration of a state of emergency, but the number of market entrants increased, and the competitive environment remains severe.」
The number of market entrants increased alongside demand for delivery and takeout, and the competitive environment has remained severe. - FY2021RestatedAnnual report
「Demand for delivery and takeout remained high, but competition also intensified as many operators entered the market.」
The Company continued to disclose the shift in food service demand toward delivery and takeout and intensifying competition due to numerous new entrants. - FY2021-Q3RestatedAnnual report
「Demand for delivery and takeout has remained high, but competition has also intensified as many operators have entered the market.」
The Company continued to disclose that, although demand for delivery and takeout remains high, competition has intensified as many operators have entered the market. - FY2021-Q2WorsenedAnnual report
「Demand for delivery and takeout has increased sharply as consumers have shifted from eating out to prepared meals and eating at home in response to requests to refrain from going out, but competition has also intensified as many operators entered the market.」
The Company newly disclosed intensifying competition due to the shift in demand toward prepared meals and eating at home, together with the entry of many operators into the delivery and takeout markets. - FY2020RestatedAnnual report
「The food service industry has a very intense competitive environment, as barriers to entry are low and new entrants are numerous compared with other industries, while the industry is also affected by sluggish personal consumption and price competition across industry boundaries.」
The Company reiterated the intensification of competition driven by new entrants, sluggish personal consumption and cross-industry price competition. - FY2018WorsenedAnnual report
「The overall market size of the restaurant industry has continued to trend sideways, while consumers' strong preference for saving has driven a shift toward lower prices and intensified competition with new market entrants and the expanding prepared-food market, leaving the industry environment challenging.」
In addition to the traditional risks of new entrants and price competition, the Company explicitly described intensifying competition from the expanding market for prepared meals. - FY2017First statedAnnual report
「The food service industry has a very intense competitive environment, as barriers to entry are low and new entrants are numerous compared with other industries, while the industry is also affected by sluggish personal consumption and price competition across industry boundaries.」
Competition driven by new entrants, sluggish personal consumption and cross-industry price competition was disclosed as a standalone business risk.