Limited impact of rush orders ahead of a consumption tax hike
First written in FY2020-Q2. 2 of 4 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2021.
2 other companies' latest entry also says "Dropped".
- FY2021DroppedAnnual reportThe main text for the fiscal year does not directly attribute the decline in orders to the backlash following the consumption tax increase, but describes it as part of the market environment resulting from COVID-19 and the decline in housing starts.
- FY2020WorsenedAnnual report
「Orders for the company's main products, building materials for newly built detached houses and renovation building materials, remained sluggish as the backlash from the consumption tax increase coincided with the effects of the declining birthrate and aging population.」
The backlash following the consumption tax increase coincided with the effects of the declining birthrate and aging population, and orders for the main products remained sluggish for the full fiscal year. - FY2020-Q3WorsenedAnnual report
「From October onward, the Company's core products, building materials for new detached homes and building materials for home renovations, remained weak as orders declined more than expected, partly due to the post-consumption-tax-hike reaction, resulting in overall orders below the same period of the previous year.」
Although the impact of rush orders ahead of the consumption tax increase was considered insignificant in the second quarter, the third quarter saw an actual, larger-than-expected decline in orders due to the backlash following the tax increase, and total orders for the main products fell below the same period of the previous year. - FY2020-Q2First statedAnnual report
「The company's main products, building materials for newly built detached houses and renovation building materials, saw some rush orders ahead of the consumption tax increase, but the impact was not significant. Overall, results remained sluggish and were in line with the same period of the previous year.」
Although rush orders ahead of the consumption tax increase were observed, their impact on total orders for the main products was not significant, and results were in line with the same period of the previous year.