Fluctuations in Business Performance Due to Economic Trends, Consumer Spending and Sudden Changes in Economic Conditions
First written in FY2016. 16 of 32 entries say "Worsened", first in FY2018. Latest entry: 2026-08-12.
The whole theme swung hardest in 2022: 132 of 174 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「Meanwhile, prolonged inflation is leading to increasingly selective and value-conscious consumer spending, while uncertainty about the outlook persists due to the ongoing labor shortage and growing downside risks to the economy resulting from the impact of U.S. trade policy.」
While identifying the employment and income environment and inbound demand as recovery factors, the disclosure adds selective consumption due to rising prices, labour shortages and downside risks to the economy from US trade policy. - FY2026-H1WorsenedAnnual report
「Meanwhile, prolonged inflation is leading to increasingly selective and value-conscious consumer spending, while uncertainty about the outlook persists due to the ongoing labor shortage and growing downside risks to the economy resulting from the impact of U.S. trade policy.」
Regarding the economy and personal consumption, the disclosure indicates signs of recovery while specifying selective consumption and greater emphasis on value due to rising prices, labour shortages and downside risks from US trade policy. - FY2025Economic recovery and rising prices and labour shortages coexistAnnual report
「Economic and social activity became more vibrant amid expectations for improvements in the employment and income environment, and the economy continued to recover gradually, supported by the recovery in personal consumption and increased inbound demand. However, uncertainty about the outlook continued, amid concerns including sluggish personal consumption due to prolonged price increases and labour shortages.」
The disclosure identifies recovery factors for the economy and personal consumption, while also citing sluggish consumption due to rising prices and labour shortages as sources of uncertainty. - FY2024-Q2WorsenedAnnual report
「The uncertain outlook has continued due to the prolonged Russia-Ukraine situation, higher raw-material and resource costs as the yen has weakened, persistently high energy prices, and the impact of chronic labor shortages, among other factors.」
While economic activity is becoming more normal, uncertainty in the economic and consumption environment continues due to the weaker yen, soaring resource and energy prices, and a chronic labour shortage. - FY2024-Q1WorsenedAnnual report
「However, the outlook for the economy remains uncertain due to rising consumer prices, including those resulting from higher energy prices and the weaker yen.」
While describing recovery factors including inbound demand and the normalisation of social and economic activity, the disclosure states that uncertainty in the economic and consumption environment continues due to higher energy prices, the weaker yen and rising consumer prices. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter under review, Japan's economy showed signs of a gradual recovery following the easing of restrictions on activities related to COVID-19, supported by factors including increased inbound demand as a result of the nationwide travel incentive programme and eased border-control measures for incoming travellers. However, in addition to the emergence of an eighth wave of COVID-19, soaring prices for raw materials, energy and other items against the backdrop of the situation in Ukraine and the weaker yen led to price increases for a wide range of goods and services, raising concerns about a cooling in consumer sentiment. Uncertainty about the outlook therefore continued.」
While describing recovery factors including the easing of restrictions on activities and increased inbound demand, the disclosure identifies the eighth wave, the weaker yen, soaring resource prices, rising consumer prices and cooling consumer sentiment as factors worsening the economic and personal-consumption environment. - FY2023-Q2WorsenedAnnual report
「During the cumulative second quarter under review, Japan's economy had been showing signs of recovery since the lifting of the state of emergency and priority preventive measures in late March. However, from the latter half of July, it was affected by a seventh wave of COVID-19 infections, and the number of customers visiting stores remained sluggish as mobility declined again, including due to people returning to their hometowns for the Obon holidays. The timing of the resumption of economic activity therefore remained uncertain.」
The disclosure describes reduced mobility and sluggish customer traffic due to the seventh wave, as well as uncertainty over the timing of the resumption of economic activity. - FY2023-Q1WorsenedAnnual report
「The food-service industry has also been forced to respond to the consumer environment as soaring resource prices have driven up various costs and, amid across-the-board increases in consumer prices, including food and daily necessities, consumers have become more deliberate than ever in choosing which stores to use.」
The disclosure identifies higher costs resulting from soaring resource prices and rising consumer prices as factors worsening the economic and consumption environment surrounding the food-service business. - FY2022-Q3WorsenedAnnual report
「Personal consumption began to recover from October and was approaching pre-pandemic levels. However, following the spread of the Omicron variant of COVID-19 from late December, concerns over a seventh wave remained unresolved, while soaring crude oil and natural gas prices also contributed to continued uncertainty about the outlook.」
While noting signs of a recovery in personal consumption, the disclosure states that the outlook remains uncertain due to concerns over a seventh wave caused by the Omicron variant and soaring crude oil and natural gas prices. - FY2022-Q2WorsenedAnnual report
「With concerns about a sixth wave of COVID-19 remaining unresolved and crude oil and natural gas prices also soaring, the uncertain outlook is expected to continue.」
In addition to the previously identified risks from infectious diseases and personal consumption, concerns about the sixth wave, parts shortages and soaring crude oil and natural gas prices are identified as factors contributing to uncertainty in economic conditions. - FY2022-Q1WorsenedAnnual report
「Although personal consumption recovered in some areas, such as luxury branded goods and high-performance home appliances, it remained weak, particularly in face-to-face personal services, because the impact of COVID-19 showed no sign of abating as highly transmissible variants continued to spread.」
The risks related to personal consumption and economic conditions are specified as the impact of the infection failing to subside due to the spread of variants and weakening consumption of in-person services. - FY2021-Q3WorsenedAnnual report
「Personal consumption stagnated sharply toward the end of the year as concerns about COVID-19 infections, which had temporarily receded, resurfaced in late November, while the review of the "Go To Campaign," requests for restaurants to further reduce operating hours and growing consumer preference for saving due to worsening employment conditions also had an impact.」
The resurgence of concern about infections, requests for reduced operating hours, worsening employment conditions and a growing preference for saving are identified as specific factors behind the stagnation in personal consumption. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2021-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no newly arising business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2020WorsenedAnnual report
「During the fiscal year under review, Japan's economy remained uncertain due to the prolonged U.S.-China trade friction, the effects of natural disasters and the consumption-tax increase, and the spread of COVID-19 infections.」
In addition to the previously identified dependence on economic conditions and personal consumption, trade friction, the consumption-tax increase and the spread of COVID-19 infections are identified as factors contributing to uncertainty. - FY2020-Q3WorsenedAnnual report
「Meanwhile, amid a decline in the working-age population, labor costs have risen due to work-style reforms aimed at improving employment and personal income. The outlook remains uncertain, also reflecting the impact of sluggish domestic consumption following the consumption-tax increase.」
In addition to the previously identified risks related to economic conditions and personal consumption, the decline in the working-age population, soaring labor costs and sluggish domestic consumption following the consumption-tax increase are identified as factors contributing to uncertainty in the operating environment. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no newly arising business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2019-Q3RestatedAnnual report
「During the nine months ended December 2020, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no newly arising business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2018WorsenedAnnual report
「The operating environment surrounding the food-service industry remains challenging, due to continued increases in raw-material and labor costs and growing consumer preference for saving.」
In addition to dependence on economic conditions and personal consumption, rising raw-material and labor costs and consumers' increasing preference for saving are identified as factors contributing to the challenging operating environment. - FY2018-Q3RestatedAnnual report
「During the nine months ended December 2020, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no newly arising business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2017RestatedAnnual report
「The business performance of our group is affected by economic trends and personal consumption trends. Sudden and unforeseeable changes in economic conditions and other factors could affect the performance of our group.」
The risks of fluctuations in business performance due to economic conditions, personal consumption and sudden changes in economic conditions are reiterated. - FY2017-Q3RestatedAnnual report
「During the nine months ended December 2020, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2017-Q1RestatedAnnual report
「During the cumulative first quarter under review, there were no newly arising business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No material changes were identified in the risk of fluctuations in business performance due to economic trends, personal consumption and sudden changes in economic conditions. - FY2016First statedAnnual report
「The business performance of our group is affected by economic trends and personal consumption trends. Sudden and unforeseeable changes in economic conditions and other factors could affect the performance of our group.」
Dependence on the external economy and personal consumption is identified as a general business risk.