Risks from Changes in Trends and Consumer Preferences and Intensifying Competition
First written in FY2016. 12 of 29 entries say "Restated". Latest entry: 2026-08-04.
Tokyo Base moved to the "Worse" side of this theme in 2020, 4 years before the typical company in this theme (2024).
The whole theme swung hardest in 2026: 10 of 15 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2025Inbound recovery coexisting with cautious consumer behavior in ChinaAnnual report
「Consumer sentiment, particularly among younger people, has cooled, and the overall retail market is also facing a challenging environment.」
It was noted that, in contrast to strong domestic physical-store performance driven by inbound demand, declining consumer sentiment among younger people and a preference for saving continue in China. - FY2025-H1Recovery in inbound demand alongside higher costs and cautious purchasing behaviorAnnual report
「The apparel industry in which the company operates continues to face a challenging business environment, including soaring raw material, logistics and electricity costs. Although inbound consumption is trending upward as international visitors to Japan recover, cautious purchasing behavior continues amid an increasing preference for saving in response to rising prices.」
While noting the increase in inbound consumption, the company indicated that soaring raw material, logistics and electricity costs, together with an increased preference for saving, continue to result in cautious purchasing behavior. - FY2024WorsenedAnnual report
「The business environment surrounding the Group is becoming increasingly competitive due to changes in lifestyles in Japan and overseas in the post-COVID period, population decline and the declining birthrate and aging population, price competition resulting from the maturation of Japan’s domestic apparel market, and lower barriers to entry for new industry participants through direct-to-consumer sales using the internet.」
In addition to the existing risks related to consumer preferences and competitors, the company identified population decline, the declining birthrate and aging population, price competition caused by market maturation, and lower barriers to entry through D2C as specific factors behind intensified competition. - FY2024-Q2WorsenedAnnual report
「In mainland China as well, some recovery was observed after the lifting of the zero-COVID policy, but personal consumption stagnated amid an uncertain outlook, including deterioration in the real estate market.」
Even after restrictions on activities were lifted, personal consumption in mainland China stagnated amid uncertainty about the outlook, including deterioration in the real estate market, limiting the recovery in consumer demand. - FY2024-Q1Recovery in foot traffic alongside continued cautious purchasing behaviorAnnual report
「In mainland China as well, foot traffic is trending upward as restrictions on activities have been eased following the lifting of the zero-COVID policy. However, consumers’ preference for saving has also emerged amid an uncertain outlook, resulting in a gradual recovery in consumer spending.」
In mainland China, foot traffic increased as restrictions on activities were eased, but a preference for saving remained, and the recovery in consumer spending was gradual, it was stated. - FY2023-Q3Recovery in foot traffic alongside continued cautious purchasing behaviorAnnual report
「In the apparel retail industry in which the company operates, foot traffic is showing signs of recovery as restrictions on activities have been eased, but cautious purchasing behavior continues due to the increasing preference for saving.」
Although the easing of restrictions on activities and resulting recovery in foot traffic were noted, the increasing preference for saving and cautious purchasing behavior continue. - FY2023-Q2WorsenedAnnual report
「In the apparel retail industry in which the company operates, foot traffic is showing signs of recovery as restrictions on activities have been eased, but cautious purchasing behavior continues due to the increasing preference for saving.」
Although foot traffic is recovering, the preference for saving and cautious purchasing behavior continue, and constraints remain on the recovery in consumer demand, it was stated. - FY2023-Q1WorsenedAnnual report
「In the apparel retail industry in which the company operates, cautious purchasing behavior has continued amid calls to refrain from going out and an increasing preference for saving, and the extremely challenging business environment persists.」
Against a backdrop of calls to refrain from going out and an increasing preference for saving, cautious purchasing behavior and a challenging sales environment continue. - FY2022WorsenedAnnual report
「If our group is unable to respond adequately to changes in customer preferences and lifestyles due to changes in lifestyles resulting from the spread of COVID-19, intensified competition from new market entrants or other factors, this may impact our group's business performance.」
In addition to the existing risks of changing trends and consumer preferences, the company continues to associate these risks with changes in lifestyles caused by infectious diseases and intensified competition from new market entrants. - FY2022-Q3WorsenedAnnual report
「Cautious purchasing behavior has continued as the number of inbound visitors has continued to decline and concerns about income have strengthened consumers' preference for saving.」
It was stated that consumers’ preference for saving due to income uncertainty and cautious purchasing behavior continue. - FY2022-Q1WorsenedAnnual report
「The extremely challenging environment has continued, as cautious purchasing behavior persists amid declining store traffic due to requests to refrain from going out, reduced operating hours, store closures and a sharp decline in inbound visitors, together with a further increase in the preference for thrift caused by concerns about income.」
Identifies the further strengthening of consumers' preference for saving against a backdrop of concerns about income and their continued cautious purchasing behavior as adverse factors affecting consumer preferences and purchasing behavior. - FY2021WorsenedAnnual report
「If our group is unable to respond adequately to changes in customer preferences and lifestyles due to changes in lifestyles resulting from the spread of COVID-19, intensified competition from new market entrants or other factors, this may impact our group's business performance.」
In addition to the existing risks from changes in trends and preferences, changes in lifestyles caused by COVID-19 and intensified competition through D2C and other channels have emerged. - FY2021-Q3WorsenedAnnual report
「Cautious purchasing behavior continued as concerns about income led to an even stronger preference for saving, resulting in an extremely challenging environment.」
Against a backdrop of concerns about income, the preference for saving strengthened further and cautious consumer purchasing behavior continued. - FY2021-Q2WorsenedAnnual report
「Cautious purchasing behavior has continued, driven by an increasingly strong preference for saving amid uncertainty about the outlook due to deterioration in employment conditions and other factors.」
States that consumers' preference for saving and cautious purchasing behavior intensified against a backdrop of deteriorating employment conditions and uncertainty about the outlook. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2018RestatedAnnual report
「We will continue to strengthen our product offering and develop new business formats to meet customer preferences and expand our customer base. However, if we are unable to respond adequately to customer preferences due to competition from new market entrants or other factors, this may impact our business performance.」
Continues to face the risks of an inadequate response to changes in trends and preferences and competition from new market entrants. - FY2018-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no new business or other risks and no material changes to the business and other risks described in the securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2017RestatedAnnual report
「If we are unable to respond adequately to customer preferences due to competition from new market entrants or other factors, this may impact our business performance.」
Continues to disclose the risks of changing consumer preferences and competition from new market entrants. - FY2017-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no new business or other risks and no material changes to the business and other risks described in the securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2017-Q1RestatedAnnual report
「During the cumulative first quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes regarding changes in trends and consumer preferences and competitive risks. - FY2016First statedAnnual report
「We primarily offer apparel and fashion accessories, which are susceptible to trends. We will continue to strengthen our product offering and develop new business formats to meet customer preferences and expand our customer base. However, if we are unable to respond adequately to customer preferences due to competition from new market entrants or other factors, this may impact our business performance.」
Identifies as risks a product mix dependent on trends, an inability to respond adequately to consumer preferences, and competition from new market entrants.