Economic Conditions, Declining Demand and Changes in Consumer Spending
First written in FY2016. 14 of 33 entries say "Restated". Latest entry: 2026-08-07.
Ariake Japan moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 99 of 177 companies on the "Worse" side.
61 other companies' latest entry also says "Worsened".
- FY2026RestatedAnnual report
「Although bright signs have emerged in Japan's economy against the backdrop of monetary easing, it is necessary to assess further whether this will lead to full-fledged economic growth.」
While noting signs of improvement in the economy, it reaffirms the uncertainty surrounding a full-fledged recovery and the potential impact of changes in demand and consumption trends. - FY2026-H1WorsenedAnnual report
「During the six-month interim consolidated accounting period ended 30 September 2025 (1 April 2025 to 30 September 2025), the Japanese economy maintained a gradual recovery trend, with signs of consumer sentiment emerging in anticipation of higher real wages. At the same time, the impact of the yen depreciation trend in the foreign exchange market, resulting from geopolitical risks and US trade tariffs, among other factors, contributed to structurally high resource and raw material prices and domestic logistics costs. The recovery in personal consumption remained slow due to the impact of elevated prices, and the outlook is believed to remain extremely uncertain.」
It acknowledges a gradual recovery trend in the economy while newly specifying the effects of US trade tariffs, yen depreciation, structurally high resource and raw material prices and domestic logistics costs, and the sluggish recovery in personal consumption due to elevated prices, explaining that the outlook is extremely uncertain. - FY2025-H1RestatedAnnual report
「During the six-month interim consolidated accounting period ended 30 September 2024 (1 April 2024 to 30 September 2024), the Japanese economy remained on a gradual recovery trend, supported by growth in domestic demand and the recovery and expansion of inbound demand. However, resource and raw material prices continued to surge due to the prolonged geopolitical risks surrounding the Russia-Ukraine situation and the impact of the yen depreciation trend in the foreign exchange market, leaving the outlook extremely uncertain.」
It acknowledges the gradual recovery supported by domestic demand and inbound demand while explaining that geopolitical risks, yen depreciation, soaring resource and raw material prices, and uncertainty over the outlook continue. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended 31 December 2023 (1 April 2023 to 31 December 2023), the Japanese economy remained on a gradual recovery trend as restrictions related to COVID-19 were eased further. However, resource and raw material prices continued to surge due to the prolonged geopolitical risks surrounding the Russia-Ukraine situation and the impact of the accelerating yen depreciation trend in the foreign exchange market, leaving the outlook extremely uncertain.」
It acknowledges the gradual recovery trend in economic activity while explaining that geopolitical risks, yen depreciation, soaring resource and raw material prices, and uncertainty over the outlook continue. - FY2024-Q2SoftenedAnnual report
「During the six-month period ended 30 September 2023 (1 April 2023 to 30 September 2023), the Japanese economy remained on a gradual recovery trend as restrictions related to COVID-19 were eased further. However, resource and raw material prices continued to surge due to the prolonged geopolitical risks surrounding the Russia-Ukraine situation and the impact of the accelerating yen depreciation trend in the foreign exchange market, leaving the outlook extremely uncertain.」
It refers to the easing of restrictions related to infectious diseases and the gradual recovery of economic activity, while explaining that the outlook remains extremely uncertain due to prolonged geopolitical risks, yen depreciation, and soaring resource and raw material prices. - FY2024-Q1SoftenedAnnual report
「During the first quarter of the fiscal year ending 31 March 2024 (1 April 2023 to 30 June 2023), Japan's economy was moving towards normalisation as restrictions on behaviour related to COVID-19 were eased and COVID-19 was reclassified as a Class 5 infectious disease under the Infectious Diseases Control Law. However, uncertainty about the outlook continued due to the prolonged situation in Ukraine, soaring resource and raw material prices, and rising prices caused by the yen's depreciation.」
It refers to the normalization of economic activity following the easing of restrictions and the change in the disease's classification under the Infectious Diseases Act, with some descriptions of the economic and demand environment softened from before. Meanwhile, price increases and uncertainty over the outlook continue. - FY2023-Q3SoftenedAnnual report
「During the first three quarters of the fiscal year ending 31 March 2023 (1 April 2022 to 31 December 2022), economic activity showed signs of normalisation as restrictions on behaviour were eased, although the effects of COVID-19 remained. Overseas, however, the effects of geopolitical risks continued, and the business environment remained difficult due to soaring raw material and energy prices against the backdrop of rising prices, the yen's depreciation and other factors. Although vaccinations and various policies showed some effect and signs of a recovery emerged, uncertainty about the outlook continued, including due to a decline in consumption.」
The company refers to the easing of restrictions on behaviour, the normalisation of economic activity and signs of a recovery, while explaining that a decline in consumption and uncertainty about the outlook continue. - FY2023-Q2SoftenedAnnual report
「During the first six months of the fiscal year ending 31 March 2023 (1 April 2022 to 30 September 2022), Japan's economy showed signs of recovery, partly because vaccinations progressed and various policies took effect, even as the adverse effects of COVID-19 continued. However, against the backdrop of rising prices, raw material prices and energy costs continued to rise, as did the yen's depreciation, and the difficult environment persisted.」
Although the effects of COVID-19 continue, the company refers to an economic recovery supported by vaccinations and policy effects. At the same time, it states that the difficult environment continues due to rising prices, soaring raw material and energy costs, and the yen's depreciation. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year ending 31 March 2023 (1 April 2022 to 30 June 2022), the business environment became more difficult due to COVID-19, heightened geopolitical risks, soaring raw material and energy prices, and the yen's depreciation.」
The company explains that the business environment became more difficult due to COVID-19, geopolitical risks, soaring raw material and energy prices, and the yen's depreciation. - FY2022SoftenedAnnual report
「Although bright signs have emerged in Japan's economy against the backdrop of monetary easing, it is necessary to assess further whether this will lead to full-fledged economic growth.」
The wording changed from the previous quarter's description of a difficult situation due to the resurgence of COVID-19 to a description that bright signs were emerging in Japan's economy, while uncertainty about full-fledged growth remains. - FY2022-Q3WorsenedAnnual report
「During the first three quarters of the fiscal year ending 31 March 2022 (1 April 2021 to 31 December 2021), Japan's economy was gradually returning to normal from a situation in which economic activity had been significantly restricted by the spread of COVID-19. However, the nationwide resurgence of COVID-19 again created a severe situation requiring close attention, and uncertainty about consumer spending and the economic outlook continues.」
The assessment changed from the view that economic activity was gradually returning to normal to the view that the nationwide resurgence of COVID-19 had again created a severe situation. Uncertainty about consumer spending and the economic outlook also continues. - FY2022-Q2SoftenedAnnual report
「Although the adverse effects of COVID-19 continued, signs of a recovery were seen, partly because vaccination progressed and various policies took effect. However, the timing of containment remained uncertain, and a situation requiring close attention continued.」
Although the adverse effects of COVID-19 continue, the company also refers to an economic recovery supported by vaccinations and policy effects, softening the wording in part from the difficult situation described in the previous quarter. At the same time, uncertainty continues. - FY2022-Q1WorsenedAnnual report
「During the first quarter of the fiscal year ending 31 March 2022 (1 April 2021 to 30 June 2021), Japan's economy faced various calls for restraint and restrictions on economic activity due to the spread of COVID-19. The timing of its containment remained uncertain, including because a fourth state of emergency was declared in July 2021.」
The description changed from the signs of an economic recovery indicated in the previous fiscal year to one stating that economic conditions and the demand environment had become more difficult and uncertain due to restraint and restrictions on economic activity caused by the spread of COVID-19 and the fourth state of emergency. - FY2021SoftenedAnnual report
「Although bright signs have emerged in Japan's economy against the backdrop of monetary easing, it is necessary to assess further whether this will lead to full-fledged economic growth.」
The wording changed from the previous quarters' description of a difficult situation due to the resurgence of COVID-19 to a description that bright signs were emerging in Japan's economy. At the same time, uncertainty about full-fledged growth remains. - FY2021-Q3WorsenedAnnual report
「Although economic activity was gradually returning to normal after being significantly restricted by the spread of COVID-19, the nationwide resurgence of COVID-19 this winter again created a severe situation requiring close attention, and uncertainty about consumer spending and the economic outlook continues.」
The assessment changed from the previous quarter's description that economic activity was gradually returning to normal to the view that the resurgence of COVID-19 in winter had again created a severe situation. Uncertainty about consumer spending and the economic outlook continues. - FY2021-Q2SoftenedAnnual report
「Economic activity is gradually returning to normal from a situation in which it was significantly restricted, including by calls to refrain from dining out due to the spread of COVID-19 and sluggish domestic tourism caused by restrictions on domestic travel. However, the outlook for consumer spending and the economy remains uncertain.」
The wording changed from the previous quarter's description that economic conditions remained extremely difficult, with a rapid deterioration continuing, to a description that economic activity was gradually returning to normal. At the same time, uncertainty about consumer spending and the economic outlook continues. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year ended 31 March 2021 (1 April 2020 to 30 June 2020), Japan's economy remained extremely difficult, with a rapid deterioration continuing due to the global spread of COVID-19.」
Regarding the risks associated with economic conditions, demand and consumer spending, the company explains that the economy deteriorated rapidly and was in an extremely difficult situation due to the global spread of COVID-19. - FY2020-Q3RestatedAnnual report
「Although a moderate recovery continued, supported by improvements in employment and income conditions, uncertainty in the global economy increased due to the impact of US-China trade friction, higher crude oil prices and other factors, and uncertainty about the outlook persisted.」
The company explains that, although the economy is recovering moderately, uncertainty in the global economy and uncertainty about the outlook continue. - FY2019RestatedAnnual report
「Economic trends, any resulting decline in demand, or unforeseen events affecting consumer trends may adversely affect our group's business performance and financial condition.」
The company is reaffirming changes in economic conditions, demand and consumer spending as risks to operating results and financial position. - FY2019-Q2RestatedAnnual report
「Japan's economy continued to recover moderately, supported by improvements in corporate earnings and employment and income conditions. At the same time, consumers' inclination to save remained strong, and uncertainty about the outlook persisted.」
The company explains that, while the economy is recovering moderately, consumers' inclination to save and uncertainty about the outlook continue. - FY2019-Q1RestatedAnnual report
「Japan's food industry faces the unavoidable challenge of a declining birth rate and an ageing population, creating an environment in which significant future growth will be difficult.」
The company continues to identify the constraints on growth in the domestic food market arising from the declining birth rate and ageing population as a business-environment factor. - FY2018RestatedAnnual report
「Economic trends, any resulting decline in demand, or unforeseen events affecting consumer trends may adversely affect our group's business performance and financial condition.」
The company is reaffirming changes in economic conditions, demand and consumer spending, against the backdrop of the significant weighting of domestic sales, as risks to operating results and financial position. - FY2018-Q3RestatedAnnual report
「Uncertainty about the outlook continues amid political risks in Europe and the United States and heightened geopolitical risks in Asia.」
The company explains that uncertainty about the outlook continues against the backdrop of political and geopolitical risks. - FY2018-Q2RestatedAnnual report
「Uncertainty about the outlook continues amid slower growth in emerging-market economies and heightened geopolitical risks.」
The company explains that uncertainty about the outlook continues against the backdrop of slower growth in emerging-market economies and geopolitical risks. - FY2018-Q1RestatedAnnual report
「Although some areas have remained firm, the operating environment continues to be difficult, amid price competition and other factors.」
The company explains that the food industry continues to face a difficult operating environment due to price competition and other factors. - FY2017RestatedAnnual report
「Economic trends, any resulting decline in demand, or unforeseen events affecting consumer trends may adversely affect our group's business performance and financial condition.」
Against the backdrop of its dependence on domestic sales, the company continues to identify changes in economic conditions, demand and consumer spending as risks to operating results and financial position. - FY2017-Q3RestatedAnnual report
「Consumers remain strongly inclined to save, and the food industry is expected to require more time to emerge from its difficult operating environment.」
The company explains that, although the economy is showing signs of recovery, consumers' strong inclination to save and the food industry's difficult operating environment continue. - FY2017-Q2RestatedAnnual report
「Although signs of an economic recovery have emerged, consumers remain strongly inclined to save, and the food industry is expected to require more time to emerge from its difficult operating environment.」
The company acknowledges signs of an economic recovery but explains that consumers' strong inclination to save and the food industry's difficult operating environment remain. - FY2016First statedAnnual report
「Economic trends, any resulting decline in demand, or unforeseen events affecting consumer trends may adversely affect our group's business performance and financial condition.」
Identifies changes in economic conditions, demand and consumer trends as risks to business performance and financial condition, given the significant weight of domestic sales.