Growth Constraints Caused by Labor Shortages
First written in FY2018-Q3. 4 of 6 entries say "Restated". Latest entry: FY2025-H1.
The whole theme swung hardest in 2025: 15 of 29 companies on the "Worse" side.
21 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「Against a backdrop of population decline, improving labour productivity has become an issue.」
Constraints on labour supply and productivity arising from population decline have been reconfirmed as external environmental issues. - FY2020-Q1RestatedAnnual report
「Although hourly wages are expected to rise in response to tight labour supply and demand, growth in total employee compensation is expected to remain broadly flat due to supply-side constraints, including the already declining population aged 15 and over and the difficulty of increasing working hours per person against the backdrop of the Japanese government’s work-style reforms.」
Labour supply-side constraints arising from population decline and work-style reforms continue to be identified as an external environmental issue. - FY2019-Q3RestatedAnnual report
「In Japan, where the population continues to decline, the labour supply is expected to reach its limit sooner or later, making productivity improvements essential.」
The outlook for the labour supply to reach its limit in the near term against a backdrop of population decline and the need to improve productivity continue to be presented. - FY2019-Q2WorsenedAnnual report
「In Japan, where the population continues to decline, the labour supply is expected to reach its limit sooner or later, making productivity improvements essential.」
In addition to the previous growth constraints caused by labour shortages, the outlook for the labour supply to reach its limit in the near term against a backdrop of population decline and the need to improve productivity have been explicitly stated. - FY2019-Q1RestatedAnnual report
「Although the Japanese government is promoting measures to secure labour by expanding the acceptance of foreign workers, the continuing decline in the working-age population (15–64) has contributed to a growing sense of labour shortages among domestic companies, and labour shortages are also constraining growth.」
The decline in the working-age population, the growing sense of labour shortages and the resulting constraints on growth have been reconfirmed. - FY2018-Q3First statedAnnual report
「The continuing decline in the working-age population (15–64) has contributed to a growing sense of labour shortages among domestic companies, and labour shortages are also constraining growth.」
The decline in the working-age population and the growing sense of labour shortages have been independently identified for the first time as external factors already constraining growth.