Risk of demand changes due to exchange-rate fluctuations
First written in FY2016. 7 of 11 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2026-H1.
Daikokuya Holdings moved to the "Worse" side of this theme in 2019.
0 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「The yen's previous depreciation shifted toward appreciation, and retail tax-free sales declined significantly, partly because the yen was more than 4% stronger than the average for the same period of the previous year, with the six-month average moving from ¥152.53 to ¥145.99. As a result, sales declined slightly.」
The yen appreciated from the average of ¥152.53 in the same period of the previous year to ¥145.99, with the impact of changing demand appearing as a sharp decline in retail tax-free sales. - FY2025WorsenedAnnual report
「The yen was particularly weak, with a monthly average of ¥152.64 during the current consolidated fiscal year compared with ¥144.54 in the previous year, representing 5.6% yen depreciation. As the dollar-based purchase prices paid by inbound customers, who account for nearly half of our sales, declined, purchases and sales have been increasing.」
The monthly average exchange rate moved from ¥144.54 to ¥152.64, representing 5.6% yen depreciation from the previous year. Foreign exchange fluctuations were described as an external factor that boosts inbound demand while also contributing to lower inventory through restrained purchasing. - FY2025-H1WorsenedAnnual report
「The yen depreciated to more than ¥160 in early July, then appreciated sharply following the Bank of Japan's 0.5% rate hike in late July, fluctuating significantly to ¥144 at the end of September」
The yen fluctuated significantly from above ¥160 to ¥144 at the end of September. As purchases were curbed to avoid the risk of such fluctuations, inventory levels declined. - FY2024WorsenedAnnual report
「During the current consolidated fiscal year, the global economy remained uncertain amid downside risks from higher resource prices resulting from heightened geopolitical risks, including the prolonged situation in Ukraine and the conflict in the Gaza Strip, as well as global monetary tightening. The Chinese economy also faced non-performing-loan problems.」
The external environment, including foreign exchange and overseas demand, was described as uncertain because of geopolitical risks, soaring resource prices, monetary tightening and non-performing-loan problems in the Chinese economy. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, economic activity in Japan moved toward normalization as inbound demand recovered following the change in the classification of COVID-19 as a Class 5 infectious disease, the lifting of restrictions on activities and the removal of travel restrictions. However, the economic outlook in Japan and overseas remains uncertain because of downside risks from persistently high global resource prices, rising domestic labor costs, the sharp depreciation of the yen, the prolonged situation in Ukraine and global monetary tightening.」
While economic activity normalized and inbound demand recovered, the risks of a downturn resulting from the sharp depreciation of the yen, resource prices, labor costs, the situation in Ukraine and monetary tightening were identified, again highlighting foreign exchange and external-environment risks. - FY2023-Q1WorsenedAnnual report
「The business environment in the secondhand-goods trading industry surrounding our Group initially saw luxury-brand prices rise to levels prevailing before the Ukraine crisis, owing to revenge spending during COVID-19, rising prices and the sharp depreciation of the yen. Subsequently, amid US interest-rate increases, declines in IT-related stocks, turmoil in financial markets and uncertainty over economic conditions, luxury-brand prices have fallen sharply despite higher yen-denominated prices resulting from the yen's depreciation, reducing liquidity in the secondhand-goods market and causing confusion in market prices.」
While the yen depreciated sharply, luxury-brand prices declined amid financial-market turmoil and uncertainty over economic conditions, increasing the impact of demand and market-price risks associated with foreign exchange fluctuations. - FY2020-Q3WorsenedAnnual report
「The decrease of ¥784 million in tax-free sales from the previous fiscal year had an impact.」
Changes in domestic and overseas demand appeared as a ¥784 million year-on-year decrease in tax-free sales, further quantifying the impact of foreign exchange and overseas-demand volatility risks. - FY2020-Q2MaterialisedAnnual report
「The decrease of ¥405 million in tax-free sales from the previous fiscal year had an impact.」
Changes in domestic and overseas demand against a backdrop of foreign exchange fluctuations and the decline in the Chinese yuan emerged as a ¥405 million year-on-year decrease in tax-free sales. - FY2019RestatedAnnual report
「Changes in domestic and overseas demand caused by sharp fluctuations in foreign exchange rates could have a material impact on the performance of our Group.」
The risks of changes in domestic and overseas demand due to foreign exchange fluctuations and their impact on performance were reconfirmed. - FY2017RestatedAnnual report
「Changes in domestic and overseas demand caused by sharp fluctuations in foreign exchange rates could have a material impact on the performance of our Group.」
The risks of changes in domestic and overseas demand due to foreign exchange fluctuations and their impact on performance were reiterated. - FY2016First statedAnnual report
「Changes in domestic and overseas demand caused by sharp fluctuations in foreign exchange rates could have a material impact on the performance of our Group.」
The discussion covers both increased inbound demand resulting from yen depreciation and increased domestic purchasing power resulting from yen appreciation, while identifying sharp fluctuations as a risk.