Increasingly Selective Consumers and Uncertainty over Personal Consumption
First written in FY2017-Q1. 21 of 34 entries say "Restated". Latest entry: 2026-07-13.
DOUTOR・NICHIRES Holdings Co.,Ltd. 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: 12 of 19 companies on the "Worse" side.
10 other companies' latest entry also says "Restated".
- 2026-07-13RestatedEarnings
「As prices have risen faster than incomes have improved, consumers have become more inclined to economize, increasing uncertainty about the outlook.」
物価上昇を背景とする消費者の節約志向と個人消費の不透明感を継続している。 - FY2026RestatedAnnual report
「As prices have risen faster than incomes have improved, consumers have become more inclined to economize, increasing uncertainty about the outlook.」
While income conditions are improving, it identifies consumers' increasing propensity to economize in response to rising prices as a factor contributing to uncertainty in personal consumption. - 2026-04-14WorsenedEarnings
「As prices have risen faster than incomes have improved, consumers have become more inclined to economize, increasing uncertainty about the outlook.」
物価上昇を背景に、消費者の節約志向の高まりを明示しており、個人消費の不透明感が具体化している。 - FY2025RestatedAnnual report
「Consumption trends are gradually weakening, as consumer prices have risen substantially, particularly for food and other items directly related to daily life,」
It continues to recognize that consumption trends are gradually weakening against a backdrop of rising prices for food and other items. - FY2025-H1RestatedAnnual report
「As a result, although customer numbers have not improved to pre-pandemic levels, sales revenue has clearly been trending upward as average spend per customer has risen, recovering to a level above that before the pandemic.」
It continues to recognize that, although customer numbers remain below pre-pandemic levels, sales revenue has recovered to above pre-pandemic levels due to higher average spend per customer. - FY2025-Q1Income conditions have improved, but customer numbers have not recovered; sales are recovering as average spend per customer rises.Annual report
「As a result, although customer numbers have not improved to pre-pandemic levels, sales revenue has clearly been trending upward as average spend per customer has risen, recovering to a level above that before the pandemic.」
It states that, although customer numbers have not returned to pre-pandemic levels, sales revenue has recovered to a level above that before the pandemic due to higher average spend per customer. - FY2024RestatedAnnual report
「Although wage increases, particularly at major companies, have become more widespread, they have not kept pace with rising prices, and there has been no change in the uncertainty about the outlook.」
While recognizing an improvement in consumption trends, it continues to indicate that wage increases have not kept pace with rising prices, leaving consumers feeling a greater burden and the outlook for personal consumption uncertain. - FY2024-Q3WorsenedAnnual report
「Consumer prices continue to rise, particularly for food and other items directly related to daily life, and consumers are beginning to experience fatigue from repeated price increases. There has been no change in the uncertainty about the outlook.」
While recognizing an improvement in consumption trends, it identifies a new concern that consumers are beginning to experience fatigue from price increases due to rising prices, particularly for food. - FY2024-Q2RestatedAnnual report
「In the food service industry as well, although the effects of COVID-19 have subsided, lifestyles from before the pandemic, including the continuation of working from home, have not returned, and conditions have not yet reached the point where they can be described as a full recovery.」
While stating that the effects of the pandemic have subsided, it continues to indicate that lifestyles have not returned due to the continuation of working from home and other factors, and that demand for eating out has not fully recovered. - FY2024-Q1The recovery in foot traffic has not restored lifestyles, preventing a full recovery in demand for eating out.Annual report
「In the food service industry as well, although the effects of COVID-19 have subsided, lifestyles from before the pandemic, including the increase in working from home, have not returned, and conditions have not yet reached the point where they can be described as a full recovery.」
While stating that the effects of COVID-19 have subsided, it indicates that lifestyles from before the pandemic have not returned due to the increase in working from home and other factors, and that demand for eating out has not fully recovered. - FY2023-Q3RestatedAnnual report
「As uncertainty about the outlook has become more pronounced, the likelihood that sluggish consumption will persist has risen.」
Against a backdrop of rising prices and uncertainty about the outlook, it continues to indicate that sluggish consumption may persist. - FY2023-Q2WorsenedAnnual report
「The seventh wave of COVID-19, which had continued since the year before last, reduced the flow of people that had been picking up, forcing the economy, which had been gradually returning to normal, into a temporary stagnation.」
It states that the seventh wave reduced the flow of people during the recovery and temporarily stalled the economy, indicating that the environment for a recovery in personal consumption has deteriorated from the previous report. - FY2023-Q1WorsenedAnnual report
「As uncertainty about the outlook has increased, the likelihood that sluggish consumption will persist has risen.」
The wording regarding sluggish consumption has changed from the possibility that it would persist over the long term to the view that the likelihood of a prolonged downturn has increased further. - FY2022-Q3RestatedAnnual report
「In addition, a sharp shift from eating out to eating at home was observed as working from home increased, while costs rose across the board for consumer goods. The operating environment became increasingly challenging, and the continuation of signs of a temporary recovery could no longer be regarded as assured.」
It has reaffirmed that the challenging environment surrounding personal consumption is continuing, citing the increase in working from home, the shift from eating out to eating at home, and concerns about the sustainability of the temporary recovery. - FY2022-Q2WorsenedAnnual report
「In addition, working from home increased and consumers' restraint from nonessential outings became normalized, while a sharp shift from eating out to eating at home was also observed. Against this backdrop, signs of a temporary recovery were beginning to fade.」
It indicates that working from home, refraining from going out, and the shift from eating out to eating at home have become normalized, while signs of a temporary recovery in consumption are also beginning to weaken. - FY2022-Q1RestatedAnnual report
「In addition, working from home increased and consumers continued to refrain from nonessential outings, while a sharp shift from eating out to eating at home was also observed, so recovery has not yet been achieved.」
It reconfirms the assessment that working from home, refraining from going out, and the shift from eating out to eating at home continue, and that consumption has not recovered. - FY2021-Q3RestatedAnnual report
「The increase in working from home and consumers' continued restraint from nonessential outings, together with a sharp shift from eating out to eating at home, made the operating environment increasingly challenging, and conditions continued to allow little room for optimism.」
Working from home, refraining from going out, and the shift from eating out to eating at home continue to make the environment surrounding personal consumption and demand for eating out challenging. - FY2021-Q2WorsenedAnnual report
「The increase in working from home and consumers' continued restraint from nonessential outings, together with a sharp shift from eating out to eating at home, made the operating environment increasingly challenging, and conditions continued to allow little room for optimism.」
It states that the addition of working from home, refraining from going out, and the sharp shift from eating out to eating at home made the environment surrounding personal consumption and demand for eating out increasingly challenging. - FY2021-Q1WorsenedAnnual report
「In addition, the previously improving trend in employment conditions changed sharply and deteriorated rapidly, making it increasingly likely that consumption would remain weak for an extended period.」
It newly indicates sharply deteriorating employment conditions and the possibility of prolonged weakness in consumption, showing that uncertainty surrounding personal consumption has become more severe than before. - FY2020-Q3WorsenedAnnual report
「In addition, concerns about rising prices for necessities due to the consumption tax increase, together with the effects of natural disasters, left personal consumption sluggish. Consumers' entrenched preference for low prices remained unchanged, uncertainty about the outlook persisted, and conditions remained such that no optimism was warranted.」
In addition to concerns about rising prices due to the consumption tax increase and an entrenched preference for low prices, it adds the effects of natural disasters as a factor contributing to weak personal consumption. - FY2020-Q2RestatedAnnual report
「In addition, because improving employment conditions in Japan were not accompanied by higher wages and there were concerns about rising prices for necessities ahead of the consumption tax increase, personal consumption remained sluggish. Consumers' entrenched preference for low prices remained unchanged, uncertainty about the outlook persisted, and conditions remained such that no optimism was warranted.」
It continues to indicate weak personal consumption and uncertainty against the backdrop of improving employment conditions without higher wages, concerns about rising prices and an entrenched preference for low prices. - FY2020-Q1RestatedAnnual report
「In addition, because improving employment conditions in Japan were not accompanied by higher wages and there were concerns about rising prices for necessities ahead of the consumption tax increase, personal consumption remained sluggish. Consumers' entrenched preference for low prices remained unchanged, uncertainty about the outlook persisted, and conditions remained such that no optimism was warranted.」
It continues to indicate weak personal consumption and uncertainty against the backdrop of improving employment conditions without higher wages, concerns about rising prices and an entrenched preference for low prices. It also adds concerns about rising prices in anticipation of the consumption tax increase. - FY2019RestatedAnnual report
「The benefits from inbound tourism gradually weakened, while improving employment conditions in Japan were not accompanied by higher wages. Concerns about higher food prices and rising prices for necessities also weighed on personal consumption, which remained sluggish.」
It continues to note slowing benefits from inbound tourism, improving employment conditions without higher wages, concerns about rising prices, and weak personal consumption. - FY2019-Q3WorsenedAnnual report
「The benefits from inbound tourism gradually declined, while improving employment conditions in Japan were not accompanied by higher wages. Adverse weather and natural disasters also contributed to concerns about higher food prices and rising prices for necessities, leaving personal consumption sluggish and uncertainty about the outlook persistent.」
The assessment has changed from stating that the company benefited from inbound tourism to recognizing that those benefits are gradually declining, while indicating weak personal consumption and uncertainty. - FY2019-Q2RestatedAnnual report
「Although the company benefited from inbound tourism, improving employment conditions in Japan were not accompanied by higher wages. Adverse weather and natural disasters also contributed to concerns about higher food prices and rising prices for necessities, leaving personal consumption sluggish and uncertainty about the outlook persistent, with no room for optimism.」
It continues to indicate weak personal consumption and uncertainty against the backdrop of improving employment conditions without higher wages, adverse weather, natural disasters and concerns about rising prices. - FY2019-Q1RestatedAnnual report
「Although the company benefited from inbound tourism, improving employment conditions in Japan were not accompanied by higher wages. Concerns about higher food prices due to adverse weather and rising prices for necessities also weighed on personal consumption, which remained sluggish. In addition, consumers' entrenched preference for low prices remained unchanged, uncertainty about the outlook persisted, and conditions remained such that no optimism was warranted.」
It continues to note improving employment conditions without higher wages, concerns about rising prices, an entrenched preference for low prices, and weak personal consumption. - FY2018-Q3RestatedAnnual report
「Customers have become more selective, and conditions surrounding consumption continue to allow little room for optimism.」
It continues to note stricter customer selectivity and uncertainty surrounding consumption trends. - FY2018-Q3RestatedAnnual report
「As the recovery in overall consumption remained insufficient, uncertainty about the outlook persisted, and conditions remained such that no optimism was warranted.」
It continues to note weak personal consumption and uncertainty about the outlook for consumption. - FY2018-Q2RestatedAnnual report
「Customers have become more selective, and conditions surrounding consumption continue to allow little room for optimism.」
It continues to note stricter customer selectivity and uncertainty surrounding personal consumption. - FY2018-Q1RestatedAnnual report
「Customers have become more selective, their entrenched preference for low prices remains unchanged, and conditions surrounding consumption continue to allow little room for optimism.」
It continues to note stricter customer selectivity, an entrenched preference for low prices, and uncertainty surrounding personal consumption. - FY2017RestatedAnnual report
「In addition, because improving employment conditions have not been accompanied by higher wages and there are concerns about rising prices, personal consumption remains sluggish, and the overall trend in consumption is becoming increasingly challenging.」
Continues to cite employment improvement without wage growth, concerns over rising prices and weak personal consumption. - FY2017-Q3RestatedAnnual report
「However, as the improvement in the employment environment has not been accompanied by higher wages and concerns over rising prices remain, personal consumption continues to be sluggish, with overall consumer spending conditions becoming increasingly challenging.」
Continues to cite employment improvement without wage growth, concerns over rising prices and weak personal consumption. - FY2017-Q2WorsenedAnnual report
「Concerns over rising prices have begun to weigh on personal consumption, and overall consumer spending conditions have become increasingly challenging.」
Adds that personal consumption is showing signs of weakness and that overall consumer spending conditions are becoming more challenging. - FY2017-Q1First statedAnnual report
「As customers have become increasingly selective and consumer trends remain unpredictable, the economic outlook continues to be uncertain.」
Identifies increasingly selective customers, driven by income growth failing to keep pace with rising prices, as a risk.