Impact on business performance of the change to a 10% consumption tax rate
First written in FY2016. 3 of 11 entries say "Restated". Latest entry: FY2020.
Kimura moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2026: 4 of 7 companies on the "Worse" side.
29 other companies' latest entry also says "Materialised".
- FY2020MaterialisedAnnual report
「During the consolidated fiscal year, Japan’s economy was affected by weaker consumption resulting from the consumption tax increase. In addition, inbound consumption fell sharply as the novel coronavirus spread worldwide, while self-restraint from going out led to a substantial deterioration in consumer-facing services such as accommodation and food services.」
The section states that weaker consumption resulting from the consumption tax increase actually occurred as part of the economic environment during the current year. - FY2020-Q3MaterialisedAnnual report
「Personal consumption temporarily declined due to the backlash following the consumption tax increase and the effects of typhoons.」
The section states that the reversal of demand brought forward after the consumption tax rate increase actually occurred as a temporary downturn in personal consumption. - FY2020-Q2MaterialisedAnnual report
「Ahead of the consumption tax rate increase, demand was brought forward, albeit modestly, for durable goods and high-value products, while demand related to the reduced tax rate was also a positive factor.」
The section states that the demand expected to be brought forward ahead of the consumption tax rate increase actually occurred for durable goods and high-value products. - FY2020-Q1WorsenedAnnual report
「Personal consumption was supported by favorable employment and income conditions and continued to expand gradually, but there were concerns that the consumption tax rate increase would dampen consumption.」
The description of the consumption tax rate increase has changed from discussing the scale of demand brought forward to explicitly stating concerns about weaker consumption after the increase. - FY2019SoftenedAnnual report
「This fiscal year, demand is expected to be brought forward ahead of the consumption tax increase, but the scale is expected to be small and the recovery to remain modest.」
The section again mentions demand brought forward ahead of the consumption tax increase, but expects it to be small and its impact on the economic recovery to be modest. - FY2018DroppedAnnual reportThe current year’s “Business and Other Risks” section contains no specific description of the impact on results from the change to a 10% consumption tax rate.
- FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to existing business and other risks, including the change to a 10% consumption tax rate. - FY2017RestatedAnnual report
「In addition, if the consumption tax rate is changed to 10%, the business is expected to be affected.」
The possibility of an impact on business performance from the change to a 10% consumption tax rate is reiterated. - FY2017-Q3RestatedAnnual report
「No new business risks arose during the nine-month period ended the third quarter of the current fiscal year. In addition, there were no significant changes to the business risks disclosed in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risks described in the previous fiscal year, including the consumption tax rate increase. - FY2017-Q1SoftenedAnnual report
「The increase in the consumption tax rate was postponed,」
It is stated that the postponement of the consumption tax rate increase pushed back the timing of its near-term impact. However, the risk itself is not stated to have disappeared. - FY2016First statedAnnual report
「In addition, if the consumption tax rate is changed to 10%, the business is expected to be affected.」
The change to a 10% consumption tax rate is described as a future risk that could affect housing-related demand.