Risk of fluctuations in rush demand and consumer sentiment associated with the consumption tax hike
First written in FY2019. 4 of 7 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2021.
Corona 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 2026: 4 of 7 companies on the "Worse" side.
32 other companies' latest entry also says "Dropped".
- FY2021DroppedAnnual report
「As the end of the COVID-19 pandemic remains uncertain, its impact on the economy and corporate activities is expected to continue.」
There is no mention of rush demand or restrained purchases associated with the consumption tax increase; the economic impact of the pandemic is identified as the main external environmental risk. - FY2021-Q3MaterialisedAnnual report
「However, in addition to the rush demand ahead of the consumption tax increase last year, this year saw a succession of event cancellations, including product exhibitions and business meetings, due to the impact of COVID-19. Sales activities for products such as water-heating systems also stagnated, contributing to overall housing equipment sales falling below the same quarter of the previous year.」
The front-loading of sales last year due to rush demand ahead of the consumption tax increase affected the comparison, and housing equipment sales for the current quarter fell below the same quarter of the previous year. - FY2021-Q2MaterialisedAnnual report
「In addition, overall heating equipment sales fell below the same quarter of the previous year, partly because last year saw front-loaded sales driven by rush demand ahead of the consumption tax increase.」
The front-loading of sales last year due to rush demand ahead of the consumption tax increase affected the comparison of heating equipment sales for the current quarter. - FY2020-Q3MaterialisedAnnual report
「In addition to launching the new natural-convection electric heater NOILHEAT（ノイルヒート）, the company pursued sales activities for oil fan heaters and other products. However, in addition to unusually warm and relatively snowless weather nationwide, consumers postponed purchases following the consumption tax increase, and total heating equipment sales fell below the same quarter of the previous year.」
Consumers holding back on purchases after the consumption tax increase affected actual sales, with total heating equipment sales falling below those in the same quarter of the previous year. - FY2020-Q2MaterialisedAnnual report
「Sales of oil heating equipment for cold regions were brought forward compared with previous years partly because of the consumption tax increase, and total heating equipment sales exceeded those in the same quarter of the previous year.」
The impact of the consumption tax increase materialized in the form of earlier sales of heating equipment, and the company stated that rush-demand fluctuations affected sales results. - FY2020-Q1RestatedAnnual report
「Although corporate earnings remained firm and employment conditions continued to improve steadily, the outlook remained uncertain because of the potential effects of overseas conditions and the economy, as well as the consumption tax increase scheduled for October.」
The company continues to recognize the consumption tax increase scheduled for October as a factor clouding the outlook through its impact on the business environment and consumption. - FY2019First statedAnnual report
「Japan's economic outlook is becoming increasingly uncertain, given the potential effects of overseas conditions and economic factors, as well as the impact of rush demand ahead of the consumption tax increase scheduled for October 2019 and its effect on consumer sentiment.」
The company independently described, for the first time, rush demand associated with the October 2019 consumption tax increase and its impact on consumer sentiment, including the subsequent reaction, as a future business-environment risk.