The Competitive Environment Amid Weak Domestic Paper Demand, Excess Capacity and Higher Raw Material and Fuel Costs
First written in FY2016. 19 of 24 entries say "Restated". Latest entry: FY2026-H1.
Tokushu Tokai Paper moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2020: 6 of 13 companies on the "Worse" side.
10 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, the Group's business environment remained uncertain due to US policy developments, geopolitical risks, rising domestic prices, and exchange-rate fluctuations, among other factors.」
The company continues to describe an uncertain business environment resulting from US policy developments, geopolitical risks, rising domestic prices, and exchange-rate fluctuations. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, the Group's business environment remained uncertain, although the economy was on a moderate recovery trend owing to improvements in corporate earnings and employment and income conditions, among other factors, amid sharp exchange-rate fluctuations, continued price increases, and geopolitical risks related to the situations in Ukraine and the Middle East.」
While describing the economy's recovery trend, the company continues to indicate an uncertain business environment resulting from sharp exchange-rate fluctuations, continued price increases, and geopolitical risks related to the situations in Ukraine and the Middle East. - FY2024-Q3RestatedAnnual report
「During the third quarter cumulative period, the global economy showed signs of a moderate slowdown amid continued geopolitical risks, including the situation in Ukraine, and monetary tightening in response to inflation. Looking ahead, the global economy is expected to continue slowing, while in Japan there are concerns that higher prices will weigh on economic activity. The Group's business environment remained uncertain, owing to persistently high raw material and fuel prices and the yen's continued depreciation trend, among other factors.」
The company continues to describe an uncertain business environment resulting from geopolitical risks, inflation and monetary tightening, an economic slowdown, higher domestic prices, persistently high raw material and fuel prices, and the yen's continued depreciation trend. - FY2024-Q2RestatedAnnual report
「During the second quarter cumulative period, the global economy showed signs of a moderate slowdown amid continued geopolitical risks, including the situation in Ukraine, and monetary tightening in response to inflation. Looking ahead, the global economy is expected to continue slowing, while in Japan there are concerns that higher prices will weigh on economic activity. The Group's business environment remained uncertain, owing to persistently high raw material and fuel prices and the yen's continued depreciation trend, among other factors.」
The company continues to describe an uncertain business environment resulting from geopolitical risks, inflation and monetary tightening, an economic slowdown, higher domestic prices, persistently high raw material and fuel prices, and the yen's continued depreciation trend. - FY2024-Q1WorsenedAnnual report
「During the first quarter cumulative period, the global economy showed signs of a moderate slowdown amid continued geopolitical risks, including the situation in Ukraine, and monetary tightening in response to inflation. Looking ahead, the global economy is expected to continue slowing, while in Japan there are concerns that higher prices will weigh on economic activity. The Group's business environment remained uncertain, owing to persistently high raw material and fuel prices and the yen's continued depreciation trend, among other factors.」
In addition to the existing raw material and fuel price, foreign-exchange, and geopolitical risk factors, the company explicitly cites a global economic slowdown, monetary tightening in response to inflation, and the drag on the domestic economy from higher prices. - FY2023-Q3RestatedAnnual report
「During the third quarter cumulative period, the business environment surrounding the Group remained uncertain due to sharp fluctuations in exchange rates, soaring raw material and fuel prices, and prolonged geopolitical risks, among other factors.」
The company continues to describe an uncertain operating environment resulting from exchange-rate fluctuations, soaring raw material and fuel prices, and prolonged geopolitical risks. The Business and Other Risks section states that there have been no material changes. - FY2023-Q2RestatedAnnual report
「During the second quarter cumulative period, the business environment surrounding the Group remained uncertain, despite progress toward the normalization of economic and social activity, due to the rapid depreciation of the yen, soaring raw material and fuel prices, and the prolonged geopolitical risks, among other factors.」
The company continues to describe an uncertain operating environment resulting from progress toward the normalization of economic and social activity, the rapid depreciation of the yen, soaring raw material and fuel prices, and prolonged geopolitical risks. The Business and Other Risks section states that there have been no material changes. - FY2023-Q1WorsenedAnnual report
「During the first quarter cumulative period, the business environment surrounding the Group remained uncertain, despite progress toward the normalization of economic and social activity, due to the rapid depreciation of the yen, soaring raw material and fuel prices, and the prolonged geopolitical risks, among other factors.」
In addition to the existing demand, raw material and fuel, and competitive environment factors, the company identifies the rapid depreciation of the yen, soaring raw material and fuel prices, and prolonged geopolitical risks as sources of uncertainty about the outlook. - FY2022WorsenedAnnual report
「Across all business segments, production capacity is somewhat in excess of total demand, and it is commonly recognized that competition across the industry is becoming increasingly intense.」
Production capacity is somewhat above demand in each segment, and the company explicitly states that competition across the industry is becoming increasingly intense. - FY2022-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2022-Q2RestatedAnnual report
「During the six-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2021-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2021-Q1RestatedAnnual report
「During the three-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The Business and Other Risks section states that there have been no new risks or material changes to existing risks. The discussion of operating results, however, cites a decline in demand due to COVID-19. - FY2020-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2020-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2020-Q1RestatedAnnual report
「During the three-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2019-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that no new business or other risks have arisen and that there have been no significant changes in existing risks. - FY2018RestatedAnnual report
「The outlook remains uncertain due to factors depressing demand, including the ongoing shift away from paper as IT advances and the expected decline in Japan's population, as well as higher fuel and raw material costs, including recovered-paper prices, the economic impact of policies under the new U.S. administration, and uncertainty in the global economy stemming from concerns about economic downturns in China and emerging markets.」
The company continues to identify declining paper use, Japan's shrinking population, rising raw material and fuel prices, and uncertainty in the global economy as challenging operating conditions. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
States that there have been no new risks or material changes to existing risks. - FY2018-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that there have been no new risks or significant changes to existing risks. Meanwhile, in its business conditions, it reports lower selling prices due to intensifying price competition. - FY2018-Q1RestatedAnnual report
「Sales volume of specialty printing paper fell below the year-earlier period due to difficult market conditions, including sluggish demand from publishers, its primary customers, and a further shift toward simpler packaging applications.」
The company describes difficult market conditions for specialty printing paper due to sluggish publishers and a shift toward simpler packaging applications. - FY2017WorsenedAnnual report
「The outlook remains uncertain due to factors depressing demand, including the ongoing shift away from paper as IT advances and the expected decline in Japan's population, as well as higher fuel and raw material costs, including recovered-paper prices, the economic impact of policies under the new U.S. administration, and uncertainty in the global economy stemming from concerns about economic downturns in China and emerging markets.」
In addition to the previously cited weak domestic paper demand and higher fuel and raw material costs, the company explicitly identifies demand and external-environment factors such as the shift away from paper due to IT and uncertainty in the global economy. - FY2017-Q1RestatedAnnual report
「The business environment surrounding the pulp and paper industry remains difficult, with weak domestic paper demand due to population decline associated with the declining birthrate, deteriorating market conditions due to excess capacity, and higher fuel and raw material costs resulting from persistently high recovered-paper prices and the weaker yen. We recognize that competition on cost and quality will become increasingly intense.」
The company continues to cite weak domestic paper demand, market conditions, fuel and raw material prices, and intense cost and quality competition as the background to its business partnership with Nippon Paper Industries. - FY2016First statedAnnual report
「The difficult business environment is continuing, with weak domestic paper demand due to population decline associated with the declining birthrate, deteriorating market conditions due to excess capacity, and high fuel and raw material costs resulting from persistently high recovered-paper prices and the weaker yen. We recognize that competition on cost and quality will become increasingly intense.」
The difficult domestic demand, market conditions, fuel and raw material prices, and competitive environment are cited as the background to the partnership.