Concerns over weak consumption and economic deterioration
First written in FY2023-Q3. 6 of 12 entries say "Worsened", first in FY2024-Q3. Latest entry: 2026-08-04.
St.Cousair moved to the "Worse" side of this theme in 2024, 2 years after the typical company in this theme (2022).
The whole theme swung hardest in 2022: 9 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- 2026-08-04RestatedEarnings
「Inflationary pressure from the weak yen and persistently high energy and food prices continued, the recovery in real wages remained slow, and consumers remained strongly inclined to economize.」
The company continues to report inflation, a slowdown in the recovery of real wages and consumers’ cost-consciousness. - FY2026WorsenedAnnual report
「Regarding stores, which constitute the B-to-C sales channel for the current consolidated fiscal year and include directly operated and franchised stores, the number of existing-store customers continued to decline throughout the year as food prices rose, reflecting changes in customer purchasing behavior, while sales fell 0.1% year on year.」
Changes in purchasing behavior amid higher food prices were reflected in a full-year decline in existing-store customer numbers and a 0.1% decrease in store sales. - FY2026-H1WorsenedAnnual report
「Real wage growth has failed to keep pace with inflation caused by the weaker yen and higher raw material prices, among other factors, and consumers have become increasingly cost-conscious in their daily lives.」
The company describes increasingly cost-conscious behavior, with store sales down 1.7% and e-commerce sales down 3.5% due to lower demand for home consumption, among other effects on consumer behavior. - FY2025WorsenedAnnual report
「In Japan, although employment and income conditions have improved, real wage growth has failed to keep pace with inflation caused by the weaker yen and higher raw material prices, among other factors, and consumers have become increasingly cost-conscious in their daily lives.」
The company states that real wage growth has failed to keep pace with inflation and that consumers have become increasingly cost-conscious. In the fourth quarter, the number of existing-store customers also declined again year on year. - FY2025-H1WorsenedAnnual report
「In Japan, although employment and income conditions have improved, real wage growth has failed to keep pace with inflation caused by the weaker yen and higher raw material prices, among other factors, and consumers have become increasingly cost-conscious in their daily lives.」
The company states that real wage growth has failed to keep pace with inflation, resulting in increasingly cost-conscious behavior in daily life. - FY2024-Q3WorsenedAnnual report
「The number of customers at existing stores during the third quarter of the current consolidated fiscal year fell 7.3% year on year, due to the reaction to extensive coverage on many television programs in the same period of the previous year, weak sales of fall and winter products resulting from the lingering summer heat, and the gradual strengthening of customers' cost-consciousness amid continued food price increases, among other factors.」
The company describes customers' increasingly cost-conscious behavior, with the number of existing-store customers falling 7.3% year on year in the third quarter of the current consolidated fiscal year. - FY2024-Q2RestatedAnnual report
「The outlook remains uncertain, with concerns including weak consumption resulting from the growing financial burden on consumers.」
The company continues to identify weak consumption caused by the growing burden on consumers as an outlook risk. - FY2024-Q1RestatedAnnual report
「The outlook remains uncertain, with concerns including weak consumption resulting from the growing financial burden on consumers.」
Following the restraint on food spending observed in the previous fiscal year, the company continues to cite weak consumption as a concern. - FY2023MaterialisedAnnual report
「Some customers have been seen limiting their spending on food.」
The company states that the previously identified future concern of weak consumption has materialized in the form of customers limiting their spending on food. - FY2023-Q3First statedAnnual report
「Many food products have been subject to price increases due to higher cost burdens, raising concerns that the resulting increase in consumers' financial burden could lead to weaker consumption and, in turn, a deterioration in economic conditions across Japan.」
While higher food prices and the increased burden on consumers are described as current conditions, weaker consumption and an economic downturn are presented as future concerns.