Continued thrift, low-price preferences and apparel deflation
First written in FY2017-Q1. 16 of 25 entries say "Worsened", first in FY2018-Q1. Latest entry: FY2026.
Jichodo moved to the "Worse" side of this theme in 2020, 4 years after the typical company in this theme (2016).
1 other company's latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「A continued cooling of consumer sentiment due to persistently rising prices.」
The continued cooling of consumer sentiment due to rising prices, together with lost sales opportunities caused by stockouts and delivery delays and the negative reaction following the strong sales of electrically cooled clothing, was reflected in lower revenue. - FY2026-H1WorsenedAnnual report
「Revenue was ¥6,810 million, down 10.3% year on year, mainly because lost sales opportunities resulted from the failure to fully resolve stockouts and delivery delays.」
Stockouts and delivery delays resulted in lost sales opportunities, which were reflected in first-half results, and revenue decreased 10.3% year on year. - FY2025WorsenedAnnual report
「As customer companies have become more focused on cutting expenses in response to surging raw material and energy prices, replacement demand has stagnated and the number of items ordered per project has also been trending downward.」
Customers' focus on frugality and cutting expenses amid higher costs is reflected in the stagnation of replacement demand and the decline in the number of items ordered per project in the full-year results. - FY2025-H1WorsenedAnnual report
「As customer companies have become more focused on cutting expenses due to surging resource and energy prices, replacement demand and new projects for made-to-order products, namely uniforms original to each customer company, have declined.」
Customers' increased focus on cutting expenses due to surging resource and energy prices is reflected in lower replacement demand and fewer new projects for made-to-order uniforms. - FY2024WorsenedAnnual report
「As customer companies have become more focused on cutting expenses in response to surging raw material and energy prices, replacement demand has stagnated and the number of items ordered per project has also been trending downward.」
Customers' increased focus on cutting expenses in response to surging raw material and energy prices is reflected in the stagnation of replacement demand and the decline in the number of items ordered per project. - FY2024-Q3WorsenedAnnual report
「As a result, sales for the nine months ended 31 December were ¥12,094 million, down 5.2% year on year, partly because the recovery in replacement demand following the COVID-19 pandemic had run its course.」
The company explains that revenue decreased 5.2% year on year as replacement demand that had recovered after the pandemic ran its course. The slowdown in demand recovery is reflected in the results. - FY2024-Q2WorsenedAnnual report
「Replacement demand has remained weak due to the impact of surging prices, while sales of cold-weather clothing have struggled amid the trend toward warmer winters, among other factors.」
In addition to weak replacement demand for corporate uniforms and other products due to surging prices, the company identifies sluggish sales of cold-weather clothing due to the trend toward warmer winters as an actual factor behind the decline in revenue. - FY2022WorsenedAnnual report
「Customer companies temporarily postponed uniform replacement in an effort to control expenses in response to higher procurement prices and logistics costs caused by surging resource and energy prices and the rapid depreciation of the yen. Combined with the ongoing decline in corporate uniform demand due to continued remote working, which began with the impact of COVID-19, conditions remained challenging.」
In addition to the previous weakness in replacement demand, the company cites surging resource and energy prices, yen depreciation, higher logistics costs and continued remote working as factors behind the decline in corporate uniform demand. - FY2022-Q3WorsenedAnnual report
「Corporate uniform replacement demand, which had temporarily shown signs of recovery, has weakened again due to the renewed spread of COVID-19, stagnation in economic and corporate activity, and the impact of semiconductor shortages on corporate production.」
The company states that corporate uniform replacement demand, which had been recovering, weakened again due to the renewed spread of infectious disease, semiconductor shortages and stagnation in corporate activity. - FY2022-Q2SoftenedAnnual report
「In the workwear industry as well, demand for corporate uniform replacements has been recovering since the lifting of the state of emergency and other restrictions, but the operating environment remained challenging due to the spread of the Omicron variant, yen depreciation, higher raw material costs and higher ocean freight rates, among other factors.」
The company states that corporate uniform replacement demand, which had continued to be postponed or reduced, began to recover after the state of emergency and other measures were lifted. However, the environment remained challenging due to the spread of infectious disease and rising costs. - FY2022-Q1WorsenedAnnual report
「Repeated reductions or postponements in the quantities ordered by customer companies for original uniforms.」
The spread of infectious disease and the state of emergency, among other factors, led companies to repeatedly reduce or postpone uniform orders, and the challenging demand environment has persisted. - FY2021WorsenedAnnual report
「In addition to the declaration and extensions of the state of emergency from April 2021, its expansion to additional areas and the rapid spread of the Delta variant, demand from both corporations and individuals deteriorated sharply from mid-May 2021 due to adverse weather and the negative reaction following the boost to consumption from the special fixed-sum benefit paid the previous year.」
In addition to the longstanding focus on frugality and low prices, the company states that corporate and personal demand deteriorated sharply due to the state of emergency, the Delta variant, adverse weather and the negative reaction following the benefit payments. - FY2020WorsenedAnnual report
「In the uniform industry, economic activity stagnated following the declaration of a state of emergency, including temporary suspensions of operations at factories, particularly in the automotive industry, and interruptions to construction work. As a result, some workwear replacement demand was postponed, and corporate demand, particularly through distributors, remained challenging.」
In addition to the longstanding effects of frugality, selective spending and unusually warm weather, the company cites delays in corporate and replacement demand caused by factory suspensions and construction interruptions. - FY2020-Q3WorsenedAnnual report
「In Japan, demand to replace workwear has tended to be temporarily postponed as business activity contracted, including temporary factory closures in manufacturing and work stoppages in civil engineering and construction, while school closures led to delays in orders for practical-training uniforms from high schools and universities.」
The company describes the temporary postponement of workwear replacement demand due to reduced business activity and delays in orders for practical-training uniforms. - FY2020-Q2WorsenedAnnual report
「Since October 2019, consumer activity has remained sluggish due to the consumption tax rate increase and the effects of unusually warm winters, and domestic economic conditions have been challenging.」
In addition to the longstanding focus on frugality and selective spending, the company explicitly cites sluggish consumer activity due to the consumption tax rate increase and the effects of unusually warm weather, describing a challenging demand environment. - FY2019-Q2RestatedAnnual report
「In the apparel and workwear industries, product procurement and logistics costs have risen, while customers have continued to focus on frugality and selective spending, leaving the business environment surrounding the company challenging.」
The company continues to describe a challenging business environment in which product procurement and logistics costs are rising and customers remain focused on frugality and selective spending. - FY2019-Q1RestatedAnnual report
「While product procurement and logistics costs have risen, consumers have continued to spend selectively, leaving the business environment surrounding the company challenging.」
The company continues to describe the business environment as challenging due to rising costs and the persistence of selective spending by consumers. - FY2018RestatedAnnual report
「The recovery in personal consumption has been limited due in part to sluggish wage growth, while consumers have continued to focus on frugality and selective spending amid concerns about the future.」
The company continues to cite the limited recovery in personal consumption due to sluggish wage growth, along with frugality and selective spending, as concerns regarding the demand environment. - FY2018-Q3RestatedAnnual report
「In the apparel and workwear industries, corporate demand remained firm, supported by strong corporate performance. However, competition across industries and business formats has intensified due in part to the expansion of online retail, and the business environment surrounding the company continues to change.」
While corporate demand remains firm, the company continues to identify intensifying competition across industries and business formats due to the expansion of online retail as a business-environment issue. - FY2018-Q2WorsenedAnnual report
「Customers' strong focus on frugality persists, and the polarization of consumption has become increasingly pronounced. In addition, competition across industries and business formats has intensified due to new entrants from other industries and the expansion of online retail, keeping the business environment surrounding the company challenging.」
The company also cites the increasingly pronounced polarization of consumption, in addition to strong frugality, as well as intensifying competition due to new entrants from other industries and the expansion of online retail. - FY2018-Q1WorsenedAnnual report
「The business environment surrounding the company remains challenging, as customers' strong focus on frugality persists and competition across industries and business formats intensifies, including as a result of the expansion of online retail.」
The company cites the persistence of customers' focus on frugality and intensifying competition across industries and business formats, driven in part by the expansion of online retail. - FY2017RestatedAnnual report
「Consumers have continued to focus on frugality and low-priced products amid concerns about the future. Combined with the expansion of online retail, this has placed traditional distribution channels, such as mass merchandisers, under severe pressure.」
The company continues to identify the difficulties facing traditional distribution channels due to consumers' focus on frugality and low prices and the expansion of online retail as a business-environment risk. - FY2017-Q3RestatedAnnual report
「In particular, individuals and small and medium-sized enterprises have little sense that the economy is recovering. Amid concerns about the future, frugality and a preference for low-priced products have persisted, and deflation has continued in the apparel and workwear industries.」
The company continues to cite consumers' and small and medium-sized enterprises' focus on frugality and low prices, along with continued deflation in the apparel and workwear industries. - FY2017-Q2RestatedAnnual report
「In particular, individuals and small and medium-sized enterprises have little sense that the economy is recovering. Amid concerns about the future, frugality and a preference for low-priced products have persisted, and deflation has continued in the apparel and workwear industries.」
The company continues to cite consumers' and small and medium-sized enterprises' focus on frugality and low prices, along with continued deflation in the apparel and workwear industries. - FY2017-Q1First statedAnnual report
「In particular, individuals and small and medium-sized enterprises have little sense that the economy is recovering. Amid concerns about the future, frugality and a preference for low-priced products have persisted, and deflation has continued in the apparel industry.」
The company identifies consumers' and small and medium-sized enterprises' focus on frugality and low prices, as well as continued deflation in the apparel industry, as risks to the demand and pricing environment.