Rush Demand Ahead of the Consumption Tax Increase
First written in FY2020-Q2. 2 of 5 entries say "Reframed", first in FY2020-Q3. Latest entry: FY2021.
The whole theme swung hardest in 2020: 2 of 19 companies on the "Worse" side.
5 other companies' latest entry also says "Dropped".
- FY2021DroppedAnnual reportThe current fiscal year's performance commentary contains no specific reference to last-minute demand ahead of the consumption tax rate increase or the subsequent decline in demand, and the description of it as a special factor in the previous fiscal year has disappeared.
- FY2021-Q2ReframedAnnual report
「In addition, because the previous fiscal year benefited from special factors including demand for dashcams and last-minute demand ahead of the consumption tax rate increase from October 2019, revenue and profit decreased compared with the same period of the previous year.」
Last-minute demand ahead of the consumption tax rate increase was described as a special factor present in the same period of the previous year, rather than a positive factor in the current period, and as a factor behind the year-on-year declines in revenue and profit. - FY2020RestatedAnnual report
「However, in the third and fourth quarters of the second half of the fiscal year, demand for winter products such as studless tires and tire chains was weak because of the decline in last-minute demand following the consumption tax rate increase, as well as a nationwide record-setting warm winter.」
The company reiterated for the full fiscal year its previous explanation that last-minute demand ahead of the consumption tax rate increase contributed in the first half, while a subsequent decline in demand occurred in the second half. - FY2020-Q3ReframedAnnual report
「Through the second quarter of the first half of the fiscal year, demand for dashcams drove product sales, while last-minute demand ahead of the consumption tax rate increase from October 2019 made a significant contribution to performance. However, in the third quarter of the current consolidated fiscal year, covering October to December, demand for winter products such as studless tires and tire chains was weak because of the decline in last-minute demand following the consumption tax rate increase, as well as an unusually warm winter nationwide.」
While last-minute demand ahead of the consumption tax rate increase made a significant contribution to performance in the first half, a subsequent decline in demand occurred in the third quarter, changing the impact of the same demand factor from positive to negative. - FY2020-Q2First statedAnnual report
「In addition, rush demand ahead of the consumption tax rate increase scheduled for October contributed to higher revenue and higher profit than in the same period of the previous year.」
Rush demand ahead of the October 2019 consumption tax increase contributed to higher revenue and higher profit in the automotive products business.