Impact on performance of a decline in capital investment in the foodservice market
First written in FY2017. 5 of 13 entries say "Restated". Latest entry: 2026-04-10.
Maruzen moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 61 of 76 companies on the "Worse" side.
4 other companies' latest entry also says "Reframed".
- 2026-04-10ReframedEarnings
「Difficult conditions are expected, including a further worsening labor shortage, persistently high raw material and utility costs, and declining willingness to open new locations due to soaring construction costs.」
The company added declining willingness to open new locations due to soaring construction costs to the existing risks concerning capital investment and the store-opening environment in the food-service market. - FY2025RestatedAnnual report
「However, the largest market is the general restaurant market within the food-service industry. If the closure period for that market is prolonged because of economic conditions, BSE or other external factors, or the spread of an infectious disease for which no treatment has been established, and private-sector capital investment declines substantially, this may affect the operating results and financial condition of the Group.」
While the risk of prolonged closures in the food-service market and declining private-sector capital investment continues to be described, diversification of sales markets across various industries is explicitly identified as a mitigation measure. - FY2024SoftenedAnnual report
「The market is recovering as COVID-19 restrictions are lifted, but the adverse effects of soaring raw material prices, utility costs and worsening labor shortages are also significant, leaving the outlook uncertain.」
The market is described as recovering following the lifting of COVID-19 restrictions, tempering the previous explanation of market contraction and declining capital investment. However, uncertainty remains due to higher costs and labor shortages. - FY2022WorsenedAnnual report
「The market for the food-service and prepared-food industries, which are the Group's main sales markets, was said to have an annual market size of approximately ¥30 trillion. However, it declined substantially due to the spread of COVID-19 and is estimated to have been approximately ¥25 trillion in fiscal 2020. The outlook remains uncertain, depending on how the COVID-19 situation develops.」
The estimate shows that the main sales market contracted from approximately ¥30 trillion to approximately ¥25 trillion in fiscal 2020, providing a more quantified indication of market trend risk. - FY2022-Q3RestatedAnnual report
「Although difficult conditions continued in the food-service, hotel and ryokan sectors and others due to the spread of COVID-19, across the diverse industries and business formats served by the Group, we promoted sales to food supermarkets performing well and food-service companies that continued to open new locations and showed a strong willingness to invest in capital expenditure even under difficult conditions.」
While difficult conditions continued in the food-service, hotel and ryokan sectors and others, sales opportunities are described as existing among food supermarkets and food-service companies with a strong willingness to invest in capital expenditure. - FY2022-Q2RestatedAnnual report
「Although difficult conditions continued in the food-service, hotel and ryokan sectors and others due to the spread of COVID-19, across the diverse industries and business formats served by the Group, we promoted sales to food supermarkets performing well and food-service companies that continued to open new locations and showed a strong willingness to invest in capital expenditure even under difficult conditions.」
While difficult conditions continued in the food-service, hotel and ryokan sectors and others, some food-service companies showed a strong willingness to invest in capital expenditure, indicating that the decline in capital investment was not uniform across the food-service market. - FY2021MaterialisedAnnual report
「Sales in the foodservice and lodging markets fell substantially, and store closures increased, due to voluntary suspension of operations and reduced business hours at restaurants, requests to refrain from going out, weakened consumer sentiment and the disappearance of inbound tourism.」
The existing risk of declining capital investment is described as having materialized in the actual business environment through closures and voluntary suspensions of operations in the food-service market and reduced willingness to invest. - FY2021-Q2RestatedAnnual report
「However, customers were forced to voluntarily suspend operations and reduce their willingness to invest due to the impact of COVID-19. We were also forced to restrict our sales activities, including voluntarily suspending events such as trade shows with on-site sales and cooking classes, to prevent the spread of infection.」
The continued voluntary suspension of operations by customers in the food-service market and their reduced willingness to invest are described, indicating that declining demand related to capital investment is affecting actual sales activities. - FY2021-Q1MaterialisedAnnual report
「Customers voluntarily suspending operations and reducing their willingness to invest due to the impact of COVID-19」
The decline in capital investment in the food-service market, previously described as a risk, is stated to have materialized in the actual business environment as customers voluntarily suspending operations and reducing their willingness to invest due to the impact of COVID-19. - FY2020WorsenedAnnual report
「However, the largest market is the general restaurant market within the food-service industry. If the closure period for that market is prolonged because of economic conditions, BSE or other external factors, or the spread of an infectious disease for which no treatment has been established, and private-sector capital investment declines substantially, this may affect the operating results and financial condition of the Group.」
The spread of infectious diseases for which no treatment has been established and prolonged business closures have been explicitly added to the existing risk of declining capital investment in the food-service market due to economic conditions and other factors. - FY2019RestatedAnnual report
「The largest market is the general restaurant market within the food-service industry. If private-sector capital investment declines substantially in this market due to economic conditions, BSE or other external factors, this may affect the operating results and financial condition of the Group.」
The risk of an impact on performance from declining capital investment in the food-service market continues to be described. - FY2018WorsenedAnnual report
「The food-service and prepared-food industries, which are our main sales markets, represent a large market of approximately ¥30 trillion annually. However, the overall market is expected to remain flat or trend downward. Accordingly, total annual demand in the commercial kitchen equipment industry, which is said to be approximately ¥600 billion for heating and refrigeration equipment combined, is also expected to remain flat or trend downward, while competition among industry peers is becoming increasingly intense.」
In addition to the traditional risk of economic weakness and declining capital investment, the outlook for the food-service and prepared-food markets and total kitchen equipment demand is explicitly described as flat or contracting, with competition intensifying. - FY2017First statedAnnual report
「If private-sector capital investment declines substantially in this market due to economic conditions, BSE or other external factors, this may affect the operating results and financial condition of the Group.」
The risk that private-sector capital investment may decline due to economic conditions or external factors is described for the general restaurant market within the food-service industry, the Group's largest market.