Sluggish domestic demand and export-related industries due to the consumption tax increase and the global economic slowdown
First written in FY2020-Q3. 6 of 8 entries say "Materialised", first in FY2020-Q3. Latest entry: FY2024.
Pegasus moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 7 of 13 companies on the "Worse" side.
4 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual reportThe specific theme of sluggish domestic demand and export-related industries due to the consumption tax increase and the global economic slowdown is not explicitly mentioned in this filing.
- FY2022MitigatedAnnual report
「During the consolidated fiscal year under review, the global economy showed signs of a broad-based recovery as economic activity resumed alongside progress in vaccination programs, mainly in developed countries, despite renewed COVID-19 outbreaks.」
Compared with the slowdown in consumption and weakness in export-related industries through the previous fiscal year, the filing describes a recovery in the global economy driven by vaccinations and the resumption of economic activity. Consolidated revenue also increased 65.0% year on year. - FY2021MaterialisedAnnual report
「The main factor was the impact of restrictions on economic activity resulting from the spread of COVID-19.」
Restrictions on economic activity resulting from the pandemic were reflected in a 17.0% decline in full-year revenue, while the deterioration in domestic and overseas demand conditions continued. - FY2021-Q3MaterialisedAnnual report
「Although manufacturing was recovering, the services sector remained sluggish, and the outlook for recovery was uncertain amid a renewed spread of COVID-19 infections.」
Although manufacturing was recovering, the domestic economy remained unlikely to recover as the services sector stayed sluggish and infections spread again. Consolidated revenue declined 27.9% year on year. - FY2021-Q2MaterialisedAnnual report
「Although the deterioration in economic conditions was beginning to ease, the recovery in private consumption remained limited, and capital investment remained weak amid deteriorating corporate earnings. The economy remained in an uncertain environment.」
The limited recovery in private consumption and continued weakness in capital investment persisted, resulting in revenue for the second quarter declining 34.8% year on year. - FY2021-Q1MaterialisedAnnual report
「The Japanese economy faced severe conditions as exports fell rapidly due to a decline in external demand resulting from the global spread of COVID-19, while domestic demand also fell sharply as people refrained from going out and businesses curtailed operations.」
Exports declined due to weaker external demand, and consumption declined as people refrained from going out and businesses curtailed operations. Consolidated revenue fell 25.8% year on year. - FY2020MaterialisedAnnual report
「The Japanese economy faced increasing uncertainty due to the impact of the COVID-19 pandemic, in addition to slower consumption following the increase in the consumption tax rate.」
In addition to slower consumption following the consumption tax increase, the COVID-19 pandemic caused an economic downturn, resulting in revenue declining 20.8% year on year and operating income declining 78.3%. - FY2020-Q3MaterialisedAnnual report
「During the cumulative third quarter, the global economy remained weak, owing in part to slower growth in China resulting from the impact of protectionist trade policies. The outlook for the Japanese economy remained uncertain, with the recovery in the performance of export-related industries delayed by sluggish domestic demand following the consumption tax increase and slower global economic growth. Against this backdrop, revenue for the cumulative third quarter was ¥11,511 million, down 21.3% year on year; operating income was ¥230 million, down 87.8%; and ordinary income was ¥223 million, down 89.6%.」
The Company identified, for the first time, sluggish domestic demand due to the consumption tax increase and delayed recovery in export-related industries due to slower global economic growth as macro demand risks separate from existing overseas political and geopolitical risks. The impact has materialized as declines in revenue, operating income and ordinary income.