Market contraction and intensifying competition driven by the declining birthrate and aging population, casualization, and online businesses
First written in FY2019. 4 of 7 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 1 of 6 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「There was still room for improvement in responding to the shift toward more relaxed and casual attire, and the company was unable to achieve a sufficient increase in the number of store visitors.」
The company continues to recognize changes in the businesswear market caused by more relaxed and casual attire, as well as the challenges in responding to them. - FY2024RestatedAnnual report
「To respond to the spread of more relaxed and casual attire in business settings and offices, the company will redefine businesswear, develop materials and products suited to current trends, and develop new customer segments.」
The company continues to recognize changes in the businesswear market driven by more relaxed and casual attire and has indicated a policy of responding by shifting its products and customer base. - FY2022WorsenedAnnual report
「The company also believes that if consumer demand itself has changed as a result of lifestyle changes during the pandemic, the businesswear market may not return to its previous state.」
In addition to the existing risks of market contraction and intensifying competition, the company explicitly identifies changes in underlying demand caused by lifestyle changes during the pandemic and the possibility that the businesswear market will not return to its previous level. - FY2021RestatedAnnual report
「The businesswear market is also becoming polarized between affordable ready-to-wear products suited to the new lifestyle and high-quality custom-made suits.」
The company continues to recognize changes and polarization in the businesswear market driven by the new lifestyle in the context of existing market contraction and intensifying competition risks. - FY2020WorsenedAnnual report
「The medium- to long-term contraction of the suit market caused by changes in business dress codes and the growth of internet-based businesses are also expected to accelerate.」
The company expects the medium- to long-term contraction of the suit market and the growth of internet-based businesses to accelerate, heightening market contraction and competitive-environment risks. - FY2020-Q2RestatedAnnual report
「However, in a difficult market environment where consumers continue to favor low prices, the outlook is extremely uncertain due to the consumption tax increase last October, adverse weather, and, from April onward, store closures and a significant decline in consumer sentiment caused by the spread of COVID-19.」
The company has reaffirmed the difficult market environment in which consumers continue to favor low prices. This has been compounded by the consumption tax increase, adverse weather, and store closures and declining consumer sentiment due to COVID-19. - FY2019First statedAnnual report
「The business environment surrounding the group is expected to remain challenging, with continued adverse changes including market contraction due to the declining birthrate and aging population and the further casualization of Cool Biz, as well as competition from rapidly growing internet-based businesses.」
The company identifies market contraction due to the declining birthrate and aging population and the casualization of Cool Biz, together with competition from rapidly growing internet-based businesses, as new medium- to long-term risks in the business environment.