Demand Decline Due to Broad Economic Fluctuations
First written in FY2022. 7 of 8 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2020: 10 of 14 companies on the "Worse" side.
7 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「The outlook remained uncertain because of persistently high raw-material and energy prices, rising prices, heightened geopolitical risks including tensions in the Middle East, and uncertainty in overseas economies.」
Uncertainty in the business environment from raw-material and energy prices, geopolitical risks and overseas economic uncertainty continued to be reported. - 2026-05-14RestatedEarnings
「Prices and labor costs continued to rise, while overall uncertainty about the outlook remained due to fluctuations in resource prices associated with escalating tensions in the Middle East, persistently high raw material and energy prices, and increased volatility in financial markets.」
Uncertainty about the outlook due to rising prices and labor costs and the situation in the Middle East was reconfirmed as a risk to the demand environment. - FY2025RestatedAnnual report
「To mitigate the impact of downturns in the macroeconomy or specific markets, our Group is diversifying its customer base and expanding sales to industries with stable demand during downturns, aiming to build a business capable of absorbing the overall impact of economic deterioration.」
The response to cyclical demand risk is to diversify the customer base and expand sales to industries with stable demand. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period from 1 January 2025 to 30 June 2025, the Japanese economy became increasingly uncertain as tariff policies of the U.S. Trump administration and the actual imposition of tariffs on certain exports affected investment by various industries and consumer spending.」
The effects of tariff policies and their implementation on investment and consumption and heightened uncertainty were described. Large-enterprise MRO remained strong during the interim period, and no broad-based demand decline was reported. - FY2024RestatedAnnual report
「Changes in domestic economic conditions could cause the performance of large corporate groups, our main customer base, to deteriorate rapidly. Small and medium-sized companies, which account for part of our customer base, may respond more sensitively than large corporate groups to economic conditions and reduce their purchases of our products and services.」
The risk of demand declining as economic conditions deteriorate for large and small and medium-sized companies was reiterated, including assessments of likelihood and impact. - FY2024-H1RestatedAnnual report
「Although personal consumption is increasing in nominal terms because of higher prices caused by the weaker yen and labor shortages, real consumption on a volume basis has tended to remain flat, indicating weakness in domestic demand.」
Flat real consumption and weak domestic demand reaffirmed the risk of a broad market demand decline. - FY2024-Q1RestatedAnnual report
「Although momentum toward wage increases strengthened, personal consumption remained subdued because income growth failed to keep pace with inflation, meaning that real wages continued to decline year on year.」
Continued year-on-year declines in real wages and weak personal consumption reaffirmed the risk of demand declining with economic and consumption trends. - FY2022First statedAnnual report
「Changes in domestic economic conditions could cause the performance of large corporate groups, our main customer base, to deteriorate rapidly. Small and medium-sized companies, which account for part of our customer base, may respond more sensitively than large corporate groups to economic conditions and reduce their purchases of our products and services.」
The Group plans to continue acquiring new customers and maintain sales growth even during economic downturns.