Slower growth in disposable income and sluggish purchasing amid concerns over rising prices
First written in FY2018-Q1. 14 of 24 entries say "Worsened", first in FY2020-Q1. Latest entry: 2026-11-13.
Pietro 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: 19 of 24 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「In the food industry, the impact of more extensive price increases across a wide range of products due to soaring raw material costs and other factors was substantial, while consumers' defensive behavior continued to strengthen.」
It was stated that consumers’ defensive approach to household spending in response to prices and price increases continued to intensify, further worsening purchasing conditions. - FY2025-H1RestatedAnnual report
「During the interim consolidated period from 1 April 2024 to 30 September 2024, Japan’s economy moved toward normalization of economic activity as employment and income conditions improved and followed a moderate recovery trend. However, the outlook remained uncertain amid an unstable international situation, rising prices and the depreciation of the yen.」
While economic activity normalized and the economy continued its moderate recovery, uncertainty over the outlook due to the international situation, rising prices and the depreciation of the yen continued to be noted. - FY2024RestatedAnnual report
「During the consolidated fiscal year, Japan’s economy moved toward a moderate recovery as economic and social activity normalized in efforts to bring the COVID-19 pandemic to an end. However, the outlook remained uncertain amid the tense international situation, high prices and the prolonged depreciation of the yen.」
While economic activity normalized and the economy showed signs of recovery, uncertainty over the outlook due to high prices, the prolonged depreciation of the yen and the international situation continued. - FY2024-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, Japan’s economy moved toward normalization of economic activity as efforts to bring the COVID-19 pandemic to an end accelerated. However, the outlook remained uncertain amid an economic slowdown resulting from high prices and the impact of global monetary tightening, as well as the prolonged depreciation of the yen.」
The normalization of economic activity coexisted with continued uncertainty over the outlook due to high prices, monetary tightening and the prolonged depreciation of the yen. - FY2024-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, Japan’s economy recovered moderately as efforts to bring the COVID-19 pandemic to an end accelerated. However, the outlook remained uncertain amid an economic slowdown resulting from high prices and the impact of globally coordinated monetary tightening.」
While the economy showed signs of recovery, the economic slowdown caused by high prices and global monetary tightening was cited as a factor contributing to uncertainty in the purchasing and economic environments. - FY2023-Q3WorsenedAnnual report
「However, the food business reported lower revenue due to declining demand and other factors accompanying weaker consumer sentiment against a backdrop of high prices.」
Weaker consumer sentiment and declining demand against a backdrop of high prices were reflected in actual results as lower revenue in the food business. - FY2023-Q2WorsenedAnnual report
「Meanwhile, the outlook remains uncertain due to the prolonged situation in Ukraine, soaring raw-material and energy prices, and rising prices resulting from the impact of the sharp depreciation of the yen. In the food industry, the impact of widespread price increases for various products due to soaring raw-material costs and other factors has been significant, strengthening demand for savings. In the food-service industry, conditions are showing signs of recovery as restrictions on activities have been eased, but the operating environment remains challenging amid concerns over the renewed spread of infections and other factors.」
Demand for savings arising from the sharp depreciation of the yen, rising prices and widespread price increases added to the uncertainty and challenging conditions in the consumption and business environments. - FY2023-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, Japan’s economy saw a decline in infections as vaccinations against COVID-19 progressed, raising expectations for the normalization of economic activity. However, concerns over the impact on economic activity in Japan and overseas, including the renewed spread of infections, the prolonged situation in Ukraine, and soaring raw-material and energy prices, have left the outlook uncertain.」
In addition to the uncertainty caused by the pandemic, the prolonged situation in Ukraine and soaring raw-material and energy prices were cited, expanding the factors of concern for the purchasing and economic environments. - FY2022-Q3WorsenedAnnual report
「While a certain level of demand for at-home dining continues in the food industry, the food-service industry faces a challenging operating environment due to the significant impact of requests to refrain from going out and to shorten operating hours.」
While demand for at-home dining continues, challenging conditions in the food-service environment due to requests to refrain from going out and shorten operating hours have persisted. - FY2021WorsenedAnnual report
「Although signs of a temporary recovery in personal consumption were seen, infections have begun to spread again and the outlook remains uncertain.」
The renewed spread of infections has continued to cloud the outlook for personal consumption and the economy. - FY2021-Q3WorsenedAnnual report
「Although signs of a temporary recovery in personal consumption were seen, infections have begun to spread again and the outlook remains uncertain.」
The renewed spread of infections has continued to cloud the outlook for personal consumption and the economy. - FY2021-Q2WorsenedAnnual report
「While demand for eating at home is expected to increase in the food industry, the food-service industry has been significantly affected by calls to refrain from going out, and the operating environment has remained challenging.」
While demand for at-home dining was expected to increase, challenging conditions in the food-service environment due to people refraining from going out continued, making the polarization of the consumption and business environments more pronounced. - FY2021-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, Japan’s economy faced extremely challenging conditions, as the spread of COVID-19 severely restricted economic activity in Japan and overseas. Domestic economic activity resumed following the lifting of the state of emergency, but the outlook for the economy remains extremely uncertain amid concerns over second and third waves of infections.」
In addition to the previous sluggish consumption and defensive household spending, restrictions on economic activity due to the spread of infectious disease and concerns over second and third waves intensified uncertainty surrounding consumption and the economic environment. - FY2020WorsenedAnnual report
「The food and food-service industries also faced extremely challenging conditions, as consumers’ preference for lower prices and defensive household spending following the October consumption tax rate increase persisted, while companies implemented closures and shortened operating hours in response to various government requests related to the spread of COVID-19.」
In addition to consumers’ preference for lower prices and defensive household spending, closures and shortened operating hours resulting from the spread of infectious disease further intensified the challenging conditions for personal consumption and the business environment. - FY2020-Q3RestatedAnnual report
「In both the food and food-service industries, consumers' persistent preference for low prices and other defensive spending attitudes continues, partly due to the consumption tax rate increase in October, while competition among companies is intensifying and consumers are increasingly selective in seeking quality, safety and peace of mind.」
A challenging environment that has led to lower prices, a defensive approach to household spending and more cautious consumption, against a backdrop of consumption tax rate increases and other factors, has continued. - FY2020-Q1WorsenedAnnual report
「During the cumulative first-quarter consolidated period, Japan’s economy remained challenging, with personal consumption continuing to be weak due to factors including the downward trend in real wages, despite resilient capital investment.」
It was stated that weak personal consumption has continued against a backdrop of the downward trend in real wages. - FY2019RestatedAnnual report
「In the food and foodservice industries, competition has intensified as consumers' entrenched preference for lower prices and other defensive behavior have strengthened, while selective consumption focused on product quality, safety and security has increased. With the impact of natural disasters also weighing on conditions, the challenging environment has continued.」
Consumers have continued to favor lower-priced products, while purchasing conditions remain challenging and selective consumption focused on quality, safety and reassurance persists. - FY2019-Q2RestatedAnnual report
「However, although personal consumption was gradually recovering due to factors including higher raw material and labor costs, it remained weak and lacked momentum.」
Against a backdrop of rising raw-material and labor costs, the lack of strength in personal consumption has continued. - FY2019-Q1RestatedAnnual report
「However, personal consumption remains sluggish, amid concerns over soaring food prices and rising prices for daily necessities.」
Personal consumption has remained sluggish against a backdrop of concerns over rising food and daily-necessity prices. - FY2018-Q3RestatedAnnual report
「However, concerns about future uncertainty arising from overseas conditions and other factors remain deeply rooted. Personal consumption remains sluggish, as concerns over weak growth in disposable income and rising prices remain deeply rooted, consumers continue to show a strong reluctance to purchase, and the downturn persists.」
Consumers’ cautious stance toward purchasing and sluggish demand, against a backdrop of weak growth in disposable income and concerns over rising prices, have continued. - FY2018-Q2RestatedAnnual report
「However, as concerns about future uncertainty have not improved, personal consumption remains sluggish, with concerns over slower growth in disposable income and rising prices still deeply rooted, consumers continuing to show a strong reluctance to purchase, and the downturn persisting.」
Consumers’ cautious stance toward purchasing and sluggish demand, against a backdrop of slower growth in disposable income and concerns over rising prices, have continued. - FY2018-Q1First statedAnnual report
「However, personal consumption remains sluggish, as growth in disposable income has slowed with the increased burden of social insurance premiums and concerns over rising prices remain deeply rooted.」
Continued sluggish purchasing, against a backdrop of slower growth in disposable income and concerns over rising prices, was identified as a business-environment risk.