Economic activity stagnation caused by COVID-19 and uncertainty in the cosmetics market
First written in FY2021-Q2. 4 of 16 entries say "Worsened", first in FY2021-Q3. Latest entry: FY2026-H1.
Axxzia moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Dropped".
- FY2026-H1DroppedAnnual report
「During the interim consolidated accounting period, there were no material changes in the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the consolidated companies, among the matters relating to the business conditions, financial position and other matters described in this interim report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
This semiannual report does not include the previous descriptions of market stagnation caused by COVID-19 or the lack of a recovery in inbound demand, and the theme has not been explicitly repeated. - FY2025RestatedAnnual report
「Although China's cosmetics market showed some signs of recovery, difficult operating conditions continue against a backdrop of persistently weak consumer sentiment associated with deteriorating economic conditions and intensifying competition as Chinese local brands gain ground.」
The disclosure states that China's market showed some signs of recovery, while difficult conditions continued because of weak consumer sentiment and intensifying competition with Chinese local brands. - FY2025-H1WorsenedAnnual report
「In China's cosmetics market, difficult operating conditions continue against a backdrop of weak consumer sentiment associated with deteriorating economic conditions and intensifying competition as Chinese local brands gain ground.」
The disclosure explicitly identifies weak consumer sentiment and intensifying competition with Chinese local brands in addition to the existing economic stagnation, and states that difficult operating conditions continue. - FY2024Specific factors behind the stagnation of the Chinese economyAnnual report
「In China, moves to avoid Japanese products following the release of ALPS-treated water into the sea are easing. However, the recovery in economic conditions has stalled against a backdrop of the continuing property downturn and falling prices, and difficult market conditions continue.」
While moves to avoid Japanese products are easing, the stalled recovery of the Chinese economy, driven by the property downturn and falling prices, has emerged as a specific new factor. - FY2024-Q3Easing of avoidance of Japanese products and continued stagnation of the Chinese economyAnnual report
「In China, moves to avoid Japanese products following the release of ALPS-treated water into the sea are easing, but the recovery in economic conditions has stalled, and difficult market conditions continue.」
While moves to avoid Japanese products were said to be easing, difficult market conditions continued as the recovery of the Chinese economy stalled. - FY2024-Q2WorsenedAnnual report
「In China's cosmetics market, the recovery in economic conditions stalled, resulting in difficult market conditions. In addition, moves to avoid Japanese products following the release of ALPS-treated water into the sea have contributed to continued difficult operating conditions.」
The disclosure states that, in addition to the stalled economic recovery in China, avoidance of Japanese products has contributed to continued difficult operating conditions, making the existing headwinds more pronounced. - FY2024-Q1Divergence between the domestic recovery and avoidance of Japanese products in ChinaAnnual report
「Japan's economy during the first quarter of the fiscal year under review (1 August 2023 to 31 October 2023) was recovering following the reclassification of COVID-19 as a Class 5 infectious disease. Private consumption and inbound spending increased, but uncertainty continued due in part to conditions in the Middle East, currency trends and rising prices. In Japan's cosmetics market, consumption was recovering as people went out more, and inbound demand also recovered, helped by the weaker yen and the relaxation of entry restrictions. In China's cosmetics market, the outlook remained uncertain amid moves to avoid Japanese products following the release of ALPS-treated water into the sea.」
In Japan, the disclosure describes a recovery in consumption and inbound demand following the reclassification of COVID-19 as a Class 5 infectious disease. In China, avoidance of Japanese products following the release of ALPS-treated water into the sea is cited as a source of market uncertainty. - FY2023-Q3RestatedAnnual report
「In Japan's cosmetics market, the easing impact of COVID-19 has led to the relaxation of mask-wearing requirements and the revitalization of economic activity. As inbound demand is also recovering, signs of a gradual recovery in consumption are emerging. In China, the explosive increase in COVID-19 cases following the shift away from the zero-COVID policy is easing, and movement of people and consumption are showing signs of recovery.」
In Japan, the disclosure describes the relaxation of mask-wearing requirements and the recovery in economic activity, inbound demand and consumption. In China, the surge in infections following the policy shift has eased, and movement of people and consumption are recovering. - FY2023-Q2Easing of the impact of COVID-19 and recovery in movement of people in ChinaAnnual report
「Japan's economy during the second quarter of the fiscal year under review (1 August 2022 to 31 January 2023) was recovering, with inbound demand and spending related to previously restricted outings showing signs of improvement as the impact of COVID-19 began to ease. However, uncertainty continued due in part to the situation in Ukraine and trends in resource prices. In Japan's cosmetics market, economic activity was recovering as the impact of COVID-19 began to subside, and signs of a gradual recovery in consumption were emerging as inbound demand also began to recover. In China, the shift away from the zero-COVID policy temporarily led to an explosive increase in COVID-19 cases, but conditions began to settle after the start of the year, and movement of people showed signs of recovery.」
In Japan, the disclosure describes the easing impact of COVID-19 and the recovery in inbound demand and consumption. In China, it explains that movement of people began to recover after a surge in infections following the shift away from the zero-COVID policy. Uncertainty due to the situation in Ukraine and resource prices remains. - FY2023-Q1Divergence between the domestic recovery and restrictions in ChinaAnnual report
「Japan's economy during the first quarter of the fiscal year under review (1 August 2022 to 31 October 2022) was recovering from the contraction in economic activity caused by COVID-19. However, conditions remained difficult amid soaring raw material and fuel prices resulting from Russia's invasion of Ukraine and currency fluctuations associated with monetary tightening. In Japan's cosmetics market, the stagnation of economic activity caused by COVID-19 was easing and inbound demand was recovering as entry restrictions were relaxed. However, the outlook for the economy remained uncertain due to rising raw material prices associated with the weaker yen and other factors. In China's cosmetics market, the outlook remained uncertain as movement restrictions were imposed in various areas under the zero-COVID policy, which sought to keep the number of new COVID-19 cases at zero.」
In Japan, stagnating economic activity and inbound demand caused by the infection began to recover, while in China, movement restrictions were imposed under the zero-COVID policy. The disclosure describes infection-related market risks as differing by region. - FY2022-Q3MaterialisedAnnual report
「In China, lockdowns resulting from the spread of COVID-19 have disrupted logistics, affecting the delivery of products and imports and exports.」
The disclosure states that lockdowns in Shanghai disrupted logistics and affected deliveries and imports and exports, with a limited impact on results, including a decline in revenue. - FY2022-Q2WorsenedAnnual report
「Japan's economy during the first half of the fiscal year under review (1 August 2021 to 31 January 2022) remained affected by the continued stagnation of economic activity caused by COVID-19. However, as vaccination rates rose, the situation temporarily eased in September, after the Tokyo Olympics and Paralympics ended. Nevertheless, the spread of the Omicron variant has left the outlook uncertain.」
While a temporary easing of the outbreak is cited, the disclosure states that the spread of the Omicron variant has left the outlook uncertain, continuing to indicate that the risks associated with the infection will be prolonged. - FY2022-Q1RestatedAnnual report
「In Japan's cosmetics market, although the spread of the infection appears to be easing, there is still no clear prospect of a recovery in inbound demand, which has been affected by entry restrictions related to COVID-19. Weak consumer sentiment continues, and the outlook remains uncertain.」
While the easing of the outbreak and hopes for the resumption of economic activity are cited, the disclosure continues to describe the lack of a recovery in inbound demand, weak consumer sentiment, and uncertainty about the outlook due to new variants. - FY2021RestatedAnnual report
「Japan's economy during the consolidated fiscal year under review remained difficult, as the global spread of COVID-19 continued to cause economic activity to stagnate, while domestic private consumption weakened and corporate earnings and employment conditions deteriorated.」
The disclosure continues to describe stagnant economic activity, deterioration in private consumption and other areas, and the lack of a recovery in inbound demand. Meanwhile, it explains that economic activity and the market are recovering in China. - FY2021-Q3WorsenedAnnual report
「Economic conditions in the third quarter of the fiscal year under review (1 August 2020 to 30 April 2021) remained difficult, as the stagnation of economic activity caused by COVID-19 had not ended, while domestic private consumption weakened and corporate earnings and employment conditions deteriorated. Although expectations for an end to the pandemic rose following the start of COVID-19 vaccinations, the emergence of variants of the virus means that the pandemic is expected to take a long time to end. In Japan's cosmetics market, there is still no clear prospect of a recovery in inbound demand, which has been affected by entry restrictions related to COVID-19, while weak consumer sentiment continues. The outlook therefore remains uncertain.」
In addition to stagnant economic activity and deterioration in private consumption, corporate earnings and employment conditions, the disclosure cites the emergence of variants and the expectation that the pandemic will take a long time to end, making the prolonged and uncertain nature of the risks clearer. - FY2021-Q2MaterialisedAnnual report
「The situation remains difficult as the stagnation of economic activity caused by COVID-19 has not ended and the outlook regarding the spread of infection remains uncertain. In Japan's cosmetics market, there is still no clear prospect of a recovery in inbound demand, which has been affected by entry restrictions related to COVID-19, while weak consumer sentiment continues. The outlook therefore remains uncertain.」
The actual market conditions described are stagnant economic activity, the lack of a recovery in inbound demand, and weak consumer sentiment.