Risk of Slowing Domestic Demand and Weak Consumption
First written in FY2020-Q2. 3 of 15 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2025-H1.
The whole theme swung hardest in 2022: 131 of 176 companies on the "Worse" side.
- FY2025-H1MitigatedAnnual report
「In Japan, personal consumption showed signs of recovery against a backdrop of normalized economic activity, despite some weakness, while capital investment remained firm.」
Personal consumption and capital investment were described as recovering and remaining firm, respectively, from the previous fiscal year, despite some weakness and the effects of rising prices. - FY2024-Q3Demand recovering, but capital investment stalledAnnual report
「In Japan, uncertainty about the outlook due to soaring energy prices and rising prices continued. Capital investment showed signs of stalling in its recovery as production activity stagnated.」
Uncertainty due to soaring energy prices and rising prices continued, while the recovery in capital investment showed signs of stalling as production activity stagnated. - FY2024-Q2Recovery in demand continues, while labor-saving investment remains firmAnnual report
「Although uncertainty about the outlook remained due to soaring energy prices and rising prices, demand in Japan recovered gradually. Capital investment was supported by solid demand related to digitalization and labor-saving investment.」
Although uncertainty remained in Japan due to higher energy prices and rising prices, demand recovered gradually, and demand for capital investment related to digitalization and labor saving remained solid. - FY2024-Q1Domestic demand recovering gradually, while capital investment remains firmAnnual report
「In Japan, personal consumption recovered gradually as economic activity normalized following the easing of restrictions on activities, while capital investment was supported by firm demand.」
In Japan, personal consumption recovered gradually against a backdrop of eased restrictions on activities, while capital investment was supported by firm demand. - FY2023-Q3Service consumption recovering, but higher prices slow the recoveryAnnual report
「In Japan, economic activity recovered, led by service consumption as foot traffic returned. However, higher commodity prices and other factors exerted downward pressure, limiting the pace of the Japanese economic recovery to a gradual one.」
The domestic economy recovered, led by service consumption as foot traffic returned, but higher commodity prices exerted downward pressure, and the recovery remained gradual. - FY2023-Q2RestatedAnnual report
「In Japan, the economy showed signs of recovery led by personal consumption as the impact of COVID-19 eased. However, conditions remained generally challenging due to supply-chain disruptions caused by semiconductor and parts shortages in the automobile industry.」
Personal consumption in Japan showed signs of recovery, but challenging conditions continued due to supply-chain disruptions caused by semiconductor and parts shortages. - FY2022-Q2Domestic economy recovering, but recovery stalled by parts shortagesAnnual report
「In Japan, service consumption, particularly face-to-face services, began to recover as vaccines became more widely available, while capital investment also showed signs of recovery as corporate earnings improved. However, the recovery stalled due to factors including cuts in automobile production caused by semiconductor shortages and supply-chain disruptions resulting from shortages of parts dependent on Southeast Asia.」
Although consumption and capital investment in Japan showed signs of recovery, supply-chain disruptions caused by semiconductor shortages and shortages of parts sourced from Southeast Asia led to cuts in automobile production, stalling the recovery. - FY2022-Q1Domestic economy recovering, but recovery slow due to variants and semiconductor shortagesAnnual report
「Japan's economy showed signs of recovery as a result of various measures implemented by the national and local governments. However, it remained on a generally gradual recovery path due to factors including cuts in automobile production caused by the spread of COVID-19 variants and semiconductor supply shortages.」
The domestic economy showed signs of recovery, but the recovery was gradual due to automobile production cuts caused by the spread of variants and semiconductor supply shortages. - FY2021Domestic economy recovering, but uncertainty persists amid a resurgence of infectionsAnnual report
「After the state of emergency was lifted in May 2020, the economy showed signs of a gradual recovery, led by personal consumption. However, conditions remained unpredictable, including the re-declaration of a state of emergency in January 2021 in response to a renewed increase in infections.」
The domestic economy recovered after the state of emergency was lifted, but uncertainty persisted following its re-declaration in January 2021. - FY2021-Q3Domestic economy recovering, but uncertainty persists amid a resurgence of infectionsAnnual report
「The Japanese economy showed signs of recovery as a result of various measures implemented by the national and local governments. However, the recent resurgence of infections has left conditions unpredictable, and uncertainty about the outlook continues.」
The domestic economy showed signs of recovery, but uncertainty about the outlook continued due to the resurgence of infections. - FY2021-Q2Partial recovery, but lower exports and uncertainty about the outlook persistAnnual report
「In Japan, personal consumption and production activity showed some recovery after the state of emergency was lifted. However, uncertainty about the outlook continued, including due to lower exports resulting from stagnation in the global economy caused by the spread of COVID-19.」
Although personal consumption and production activity in Japan showed some recovery, lower exports due to stagnation in the global economy and uncertainty about the outlook continued. - FY2021-Q1WorsenedAnnual report
「Japan also imposed restrictions on going out due to the same effects, causing personal consumption to decline and production activity to stagnate. Automobile production remained subject to substantial production cuts.」
The slowing of domestic demand and weak consumption worsened further as the spread of COVID-19 led to restrictions on going out, stagnation in production and substantial cuts in automobile production. - FY2020WorsenedAnnual report
「In Japan, the decline in capital investment accompanying the global economic slowdown was pronounced and concerns about a downside to the economy persisted. In the first half of the current consolidated fiscal year, however, the economy showed a moderate recovery supported by firm domestic demand, including personal consumption. Subsequently, domestic demand declined due to the consumption tax increase and the effects of natural disasters caused by major typhoons. Entering 2020, the spread of COVID-19 dealt a further blow, and the economy deteriorated rapidly toward the end of the fiscal year.」
The increase in the consumption tax rate, major typhoons and the spread of COVID-19 caused domestic demand and the economy to deteriorate further toward the end of the fiscal year. - FY2020-Q3WorsenedAnnual report
「In Japan, personal consumption lacked strength, partly due to the consumption tax increase, while exports remained weak, mainly due to the slowdown in the Chinese economy. Capital investment also showed signs of slowing, particularly in manufacturing, amid growing concerns about a global economic slowdown.」
The Company cited weak personal consumption due to the consumption tax increase, sluggish exports due to the slowdown in the Chinese economy and slower capital investment, particularly in manufacturing, indicating that the domestic economic environment had become more challenging. - FY2020-Q2First statedAnnual report
「Japan's economy showed signs of slowing domestic demand. Even the rush demand ahead of the consumption tax increase was smaller than during the previous tax increase, and personal consumption lacked strength. Although capital investment remained firm, growth slowed amid heightened uncertainty, including trade friction, leaving the overall operating environment challenging.」
The Company identified slowing domestic demand, weak personal consumption and slower growth in capital investment as new risks in the domestic economic environment.