Impact of the consumption tax increase on shipment volume
First written in FY2020-Q3. 2 of 2 entries say "Materialised", first in FY2020-Q3. Latest entry: FY2020.
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- FY2020MaterialisedAnnual report
「Although shipments of ethanol-related products increased in March, annual shipment volumes declined due to the consumption-tax increase and natural disasters in September and October of the previous year. In addition, domestic crude oil and naphtha prices remained lower than in the previous year, causing selling prices to decline. Revenue therefore decreased 5.1% year on year to ¥28.063 billion.」
The increase in the consumption tax was cited, together with natural disasters and other factors, as a cause of the decline in annual shipment volumes, and revenue decreased 5.1% year on year. - FY2020-Q3MaterialisedAnnual report
「Revenue declined to ¥21.345 billion, down 5.4% year on year, as shipment volumes decreased due to the consumption tax increase and natural disasters in September and October, while selling prices fell because domestic crude oil and naphtha market prices remained lower than in the previous year.」
The increase in the consumption tax was cited for the first time as one factor behind the decline in shipment volumes, and revenue was reported to have decreased 5.4% year on year.