Sluggish Domestic Economic Conditions and Personal Consumption
First written in FY2017-Q1. 9 of 29 entries say "Worsened", first in FY2018-Q2. Latest entry: FY2026.
Showa Paxxs 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: 53 of 68 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「During the fiscal year, the Japanese economy expanded moderately after the downward pressure from tariffs at the beginning of the period proved limited, but the outlook is uncertain amid heightened tensions in the Middle East.」
The disclosure states that the domestic economy expanded moderately as the impact of tariffs was limited, while uncertainty over the outlook remains due to heightened tensions in the Middle East. - FY2024WorsenedAnnual report
「Overall, during the fiscal year, the Japanese economy was expected at the beginning of the period to achieve strong growth as concerns about infections receded, supply constraints eased and inbound demand recovered. By the end of the fiscal year, however, domestic demand remained stagnant, primarily because personal consumption was sluggish due to the weaker yen and higher prices, making it difficult to characterize conditions as a virtuous cycle of economic growth.」
The disclosure describes a shift from expectations for growth at the beginning of the period to continued stagnation in personal consumption and domestic demand due to the weaker yen and higher prices. - FY2024-Q3WorsenedAnnual report
「The July–September quarter recorded negative growth mainly because of weak domestic demand. In the October–December quarter, consumption-related indicators remained weak and domestic demand continued to stagnate, so we believe the increase in growth will be limited.」
Following the weakening of consumption due to higher prices in the second quarter, the disclosure describes negative growth mainly attributable to weak domestic demand and weak consumption-related indicators, indicating a deterioration in domestic economic conditions and the personal consumption environment. - FY2024-Q2WorsenedAnnual report
「During the six months ended the second quarter, the economy recorded positive growth in the April–June quarter as concerns about infections receded, supply constraints eased and inbound demand recovered. In the July–September quarter, however, goods consumption, particularly of nondurable goods, weakened under the impact of higher prices, while growth in services consumption, which had driven the recovery in consumption, also slowed, with various negative factors emerging.」
Following the recovery in personal consumption and inbound demand seen in the first quarter, the disclosure describes weaker goods consumption due to higher prices and slower growth in services consumption, indicating a deterioration in domestic economic conditions and the personal consumption environment. - FY2024-Q1MitigatedAnnual report
「As the economy continued to emerge from the effects of COVID-19, various developments contributing to positive growth were observed, including a recovery in personal consumption and inbound demand, progress toward resolving production constraints in the automobile industry, and faster wage growth reflecting higher wage increases in the annual spring labor-management negotiations.」
Conditions have improved from stagnating personal consumption due to infectious disease outbreaks and restrictions on activity to a situation characterized by recovering personal consumption and inbound demand, as well as wage growth. - FY2023-Q3Consumption stagnation due to the seventh wave of infections and higher prices, with a recovery outlook for services consumptionAnnual report
「In the July–September quarter, personal consumption remained sluggish amid the seventh wave of COVID-19 infections and higher prices, while a sharp increase in imports resulted in negative growth. In the October–December quarter, goods exports declined as economic conditions deteriorated in the United States, Europe and China, while widespread forecasts point to positive growth supported by a recovery in services consumption and inbound demand following the launch of the nationwide travel support program and the easing of border controls, as well as a reactionary decline in imports.」
While noting stagnation in personal consumption due to the seventh wave of infections and higher prices, it also indicates an outlook for a recovery in services consumption and inbound demand following the nationwide travel support program and the easing of border controls. - FY2023-Q2WorsenedAnnual report
「Personal consumption subsequently stagnated amid the seventh wave of infections and higher prices. Although the impact of supply constraints caused by China's urban lockdowns has faded, exports have remained sluggish, and forecasts of slower growth in the July–September quarter are widespread.」
The description has shifted from the recovery trend in the previous period to stagnating personal consumption due to the seventh wave of infections and higher prices, together with sluggish exports, indicating a deterioration in domestic economic conditions and the personal consumption environment. - FY2022Recovery and renewed weakness coexistAnnual report
「Personal consumption was heavily affected by waves of infections and the associated restrictions on activity. After a slight quarter-on-quarter increase in the April–June quarter, it declined in the July–September quarter and then rose sharply in the October–December quarter as restrictions on activity were eased, but the mood of self-restraint strengthened again after the start of the year, resulting in a decline in the January–March quarter.」
Although personal consumption temporarily recovered as restrictions on activity were eased, it weakened again toward the fiscal year-end amid a mood of self-restraint caused by the Omicron variant, indicating the instability of personal consumption. - FY2022-Q3RestatedAnnual report
「Personal consumption continued to fluctuate amid repeated tightening and easing of activity restrictions. Although consumer sentiment improved in the October-December quarter as vaccinations progressed, it did not result in a significant upside.」
Personal consumption has continued to fluctuate, and although consumer sentiment has improved, the assessment remains that it has not reached a significant recovery. - FY2022-Q2RestatedAnnual report
「Personal consumption fluctuated amid repeated tightening and easing of activity restrictions. Although it has begun to improve as vaccination rates rose, it remains below the level at the end of last year.」
Continues to recognize that personal consumption is fluctuating despite some improvement and remains at a low level. - FY2022-Q1WorsenedAnnual report
「Personal consumption declined in the January-March quarter and then fluctuated with the infection situation, failing to enter a recovery trajectory.」
The assessment has deteriorated to one in which personal consumption continues to fluctuate with the infection situation and has not entered a recovery trajectory. quantified is assessed as false and materialized as true. - FY2021-Q3Personal consumption plateaued after recoveringAnnual report
「Personal consumption turned positive after its decline in the April-June quarter as the mood of self-restraint eased, but quickly plateaued. Deteriorating employment and income conditions, including a low effective job-offers-to-applicants ratio and monthly total cash earnings continuing to fall short of the prior-year level, together with the renewed spread of infections, weighed on consumption.」
States that personal consumption recovered temporarily but plateaued soon afterward, while deteriorating employment and income conditions and the renewed spread of infections are weighing on consumption. - FY2021-Q2WorsenedAnnual report
「Japan’s real GDP in the April-June quarter recorded its largest contraction ever. Exports, industrial production and personal consumption all declined, while corporate earnings also deteriorated broadly: total sales across all industries recorded the largest-ever quarter-on-quarter decline, and ordinary profit fell for the fifth consecutive quarter, by nearly 30%.」
Broadly describes declines in domestic economic conditions, exports, industrial production, personal consumption and corporate earnings, indicating that risks surrounding the domestic economy and personal consumption have deteriorated further. - FY2021-Q1WorsenedAnnual report
「A sharp decline in exports and a downturn in personal consumption acted as major drags on the economy. Although restrictions on going out were eased after the state of emergency was lifted, the COVID-19 pandemic continued worldwide and there was also a risk of renewed spread in Japan, leaving it entirely unclear whether economic activity could proceed toward normalization.」
The assessment has deteriorated to one in which downturns in exports and personal consumption are weighing on the economy and the outlook for normalization of economic activity is also uncertain. - FY2020WorsenedAnnual report
「There is a risk of a significant downturn in fiscal 2020, which is expected to affect the Group’s earnings.」
Concerns about a downturn in domestic economic conditions and the earnings environment intensified as the spread of COVID-19 caused a sharp decline in consumption and a contraction in aggregate demand. - FY2020-Q3Personal consumption temporarily declined following the consumption tax increaseAnnual report
「Personal consumption declined from October onward because of the consumption tax increase, but the burden on households was eased by various measures addressing the consumption tax, and the decline is expected to remain limited.」
States that personal consumption continued to recover gradually against a backdrop of improving employment and real employee compensation, while declining from October onward because of the consumption tax increase. - FY2020-Q2MitigatedAnnual report
「Personal consumption continued to recover gradually on the back of favourable employment conditions and improving income conditions, while domestic demand remained firm.」
States that the gradual recovery in personal consumption and the resilience of domestic demand continued, further easing the previous risk of weakness. - FY2020-Q1RestatedAnnual report
「Although consumer sentiment became more cautious and unseasonable weather weighed on personal consumption, gradual expansion continued, helped by the effect of the extended holiday period.」
While citing increasingly cautious consumer sentiment, indicates that personal consumption continued to expand gradually. - FY2019RestatedAnnual report
「Personal consumption continued to recover gradually against a backdrop of favourable employment and income conditions, including an unemployment rate at a historical low and real wages continuing to increase.」
Continues to recognize that personal consumption continued to recover gradually against a backdrop of favourable employment and income conditions. - FY2019-Q3RestatedAnnual report
「Personal consumption also began to recover gradually against a backdrop of favourable employment and income conditions.」
Continues to recognize that personal consumption is recovering gradually against a backdrop of favourable employment and income conditions. - FY2019-Q2MitigatedAnnual report
「Real employee compensation increased, consumer sentiment improved, and personal consumption began to recover.」
States that personal consumption is recovering against a backdrop of improved employee compensation and consumer sentiment. - FY2019-Q1MitigatedAnnual report
「The pace of employment growth accelerated, nominal wages also increased, and real employee compensation rose as inflationary pressure peaked, bringing personal consumption back to a growth trajectory.」
States that personal consumption returned from its previous slow recovery to a growth trajectory, driven by higher real employee compensation. - FY2018-Q3RestatedAnnual report
「However, both the increase in the number of employed people and the upward trend in wages have been concentrated in industries with relatively low wages. Consumer prices rose year on year, and higher energy prices put downward pressure on households’ real purchasing power. In addition, with social insurance contributions increasing and the decline in the propensity to consume among younger people continuing, the recovery in households’ real income and personal consumption remained slow.」
Continues to recognize that although personal consumption is beginning to improve, its recovery lacks strength because of declining real purchasing power and the slow recovery in real income. quantified is assessed as false and materialized as true. - FY2018-Q2WorsenedAnnual report
「Because employment growth has been concentrated in industries with relatively low wages, the pace of recovery in overall wages has been slow. Higher energy prices and a weaker yen have put downward pressure on households’ real purchasing power, and the recovery in personal consumption has lacked strength.」
While identifying an upward trend in personal consumption, explicitly notes the weak recovery resulting from slow wage recovery, higher energy prices and the decline in real purchasing power caused by the weaker yen. - FY2018-Q1MitigatedAnnual report
「Inbound demand, which had temporarily plateaued, recovered, and signs of recovery also began to emerge in personal consumption.」
States that although personal consumption continued to grow only moderately, conditions shifted from the previous weakness and plateauing toward recovery. - FY2017Early signs of improvement in personal consumptionAnnual report
「Corporate earnings improved, while personal consumption remained sluggish. However, consumer-related indicators began to show slight improvement in the January-March quarter.」
While personal consumption remained sluggish, notes slight improvement in consumer-related indicators at the end of the fiscal year. - FY2017-Q3RestatedAnnual report
「Although labour shortages remained particularly pronounced in non-manufacturing industries and the employment and income environment continued to improve, personal consumption remained sluggish over an extended period because of stagnant disposable income and concerns about the future. Inbound demand also plateaued while remaining at a certain level.」
Continues to identify prolonged weakness in personal consumption and the plateauing of inbound demand as concerns in the business environment. - FY2017-Q2RestatedAnnual report
「Personal consumption remained sluggish because of stagnant disposable income and defensive consumer behaviour prompted by concerns about future increases in financial burdens, while inbound demand, which had surged during the previous fiscal year, reached a plateau.」
Continues to identify weak personal consumption and the plateauing of inbound demand as concerns in the business environment. - FY2017-Q1First statedAnnual report
「Personal consumption remained sluggish over an extended period because of stagnant growth in disposable income and concerns about the future. Exports lacked strength against a backdrop of slowing overseas economies and a stronger yen, while inbound tourism business also lost momentum.」
Describes the prolonged weakness in personal consumption and the slowdown in exports and inbound tourism as the business environment during the quarter.