Concerns over a slowdown due to sluggish consumer spending and uncertainty about the economic outlook
First written in FY2017-Q3. 21 of 32 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2020: 53 of 68 companies on the "Worse" side.
29 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「Although consumer spending is showing signs of increasing, consumer sentiment remains weak because of the continuing impact of rising prices.」
It continues to state that signs of a recovery in consumer spending coexist with subdued consumer sentiment due to rising prices. - FY2026-H1Signs of a recovery in consumer spending coexisting with subdued consumer sentimentAnnual report
「Although consumer spending is showing signs of increasing, consumer sentiment remains weak because of the continuing impact of rising prices.」
It states that, in personal consumption, signs of increased consumer spending coexisted with subdued consumer sentiment due to rising prices. - FY2025-Q1WorsenedAnnual report
「Personal consumption remained in a challenging situation. Although there were signs of improvement in employment and income conditions, real wages remained sluggish due to the rapid depreciation of the yen and rising prices associated with higher costs.」
It states that personal consumption remained difficult because of the rapid depreciation of the yen, surging prices, and stagnant real wages, despite signs of improvement in employment and income conditions. - FY2024RestatedAnnual report
「Personal consumption was beginning to recover somewhat as restrictions on activities were eased, with more people visiting tourist attractions and events, among other factors, but prices for essential goods continued to rise unabated, and conditions remained difficult.」
It states for the full fiscal year that partial recovery in personal consumption as restrictions on activities were eased coexisted with a difficult consumption environment caused by higher prices for essential goods. - FY2024-Q3RestatedAnnual report
「Personal consumption was beginning to regain some momentum as the easing of restrictions on activities increased visitor numbers at tourist attractions and events, among other factors. However, the rising prices of daily necessities showed no sign of stopping, and conditions remained challenging.」
It continues to state that partial recovery in personal consumption as restrictions on activities were eased coexisted with a difficult consumption environment caused by higher prices for essential goods. - FY2024-Q2RestatedAnnual report
「Personal consumption was beginning to regain some momentum as the easing of restrictions on activities increased visitor numbers at tourist attractions and events, among other factors. However, the rising prices of daily necessities showed no sign of stopping, and conditions remained challenging.」
It reiterates that partial recovery in personal consumption as restrictions on activities were eased coexisted with a difficult consumption environment caused by higher prices for essential goods. - FY2024-Q1Recovery in personal consumption coexisting with difficult conditions caused by higher prices for essential goodsAnnual report
「Personal consumption was beginning to regain some momentum as the easing of restrictions on activities increased visitor numbers at tourist attractions and events, among other factors. However, the rising prices of daily necessities showed no sign of stopping, and conditions remained challenging.」
It states that personal consumption partially recovered as restrictions on activities were eased, while conditions remained difficult because of higher prices for essential goods. - FY2023RestatedAnnual report
「Personal consumption was beginning to recover somewhat as restrictions on activities were eased, but employment and income conditions did not improve and remained difficult.」
It also states for the full fiscal year that personal consumption partially recovered as restrictions on activities were eased, while employment and income conditions continued to deteriorate. - FY2023-Q3RestatedAnnual report
「Personal consumption was beginning to recover somewhat as restrictions on activities were eased, but employment and income conditions did not improve and remained difficult.」
It continues from the previous quarter to state that personal consumption was recovering somewhat as restrictions on activities were eased, while employment and income conditions continued to deteriorate. - FY2023-Q2RestatedAnnual report
「Personal consumption was beginning to recover somewhat as restrictions on activities were eased, but employment and income conditions did not improve and remained difficult.」
It continues from the previous quarter to state that personal consumption was recovering somewhat as restrictions on activities were eased, while employment and income conditions continued to deteriorate. - FY2023-Q1Recovery in personal consumption and continued deterioration in employment and income conditionsAnnual report
「Personal consumption was beginning to recover somewhat as restrictions on activities were eased, but employment and income conditions did not improve and remained difficult.」
It states that personal consumption was beginning to recover somewhat as restrictions on activities were eased, while the deterioration in employment and income conditions remained unimproved and difficult conditions continued. - FY2022RestatedAnnual report
「Regarding the outlook, the external environment surrounding the Company remains challenging. With stagnant personal consumption due to population decline, shrinking real income, and increased thriftiness, as well as the COVID-19 pandemic, the situation remains difficult to predict.」
It continues to state that population decline, shrinking real income, a stronger preference for saving, sluggish personal consumption due to the spread of infectious diseases, and uncertainty in the external environment remain issues. - FY2022-Q3Continued demand for meals prepared at home alongside a decline following the reversal of stockpiling demandAnnual report
「Under these circumstances, although demand for food and daily necessities remained strong due to the impact of COVID-19, the Company was affected by a decline following the reversal of stockpiling demand in the same period of the previous year.」
It states that demand for food and daily necessities remained strong, while demand declined following the reversal of stockpiling demand in the same period of the previous year. - FY2022-Q2Continued uncertainty due to restrictions on activity, progress in vaccinations, and variantsAnnual report
「During the six-month period ended 31 August 2021 (1 March 2021 to 31 August 2021), Japan's economy was significantly affected by the spread of COVID-19, as repeated declarations of a state of emergency and implementation of priority preventive measures in response to the spread of infection led to requests for people to refrain from nonessential outings. While some bright signs have emerged as vaccinations have progressed, the replacement of the original strain by variant strains means that the economic outlook remains uncertain.」
While requests to refrain from going out under states of emergency and other measures affected economic activity, it also mentions signs of improvement from vaccinations. However, uncertainty over the outlook continues as variants replace earlier strains. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year (1 March 2021 to 31 May 2021), Japan's economy was significantly affected by the spread of COVID-19, with requests to refrain from nonessential and nonurgent outings issued in some regions under states of emergency and priority preventive measures to prevent the spread of the disease imposed by local governments.」
It reiterates the situation in which requests to refrain from going out under states of emergency and other measures affected economic activity, with restrictions on personal consumption and purchasing behavior continuing. - FY2021Restrictions, recovery, and uncertainty under the renewed state of emergencyAnnual report
「The spread of COVID-19 severely restricted personal consumption and corporate activity, causing the economy to deteriorate rapidly. Personal consumption had gradually recovered through demand stimulus measures such as the "Go To Campaign" to revive the economy, but the economic outlook remains uncertain, including the issuance of a second state of emergency in 11 prefectures in January 2021.」
It describes the restrictions on personal consumption and corporate activity, the recovery driven by demand stimulus measures, and the second state of emergency alongside continued uncertainty over the outlook. - FY2021-Q3Restrictions on and recovery in personal consumption, with uncertainty continuingAnnual report
「During the nine-month period of the current fiscal year, Japan's economy deteriorated rapidly as the spread of COVID-19 severely restricted personal consumption and corporate activity. Personal consumption has gradually recovered as demand-stimulus measures such as the "Go To Campaign" were implemented to revive economic activity, but there is still no prospect of the spread of COVID-19 ending. Although some signs of recovery have emerged amid calls for a new way of living, the outlook for economic conditions remains uncertain.」
It states that although the spread of infectious diseases severely restricted personal consumption and corporate activity, personal consumption has gradually recovered due to demand stimulus measures. Uncertainty over the economic outlook continues. - FY2021-Q2RestatedAnnual report
「Economic conditions were gradually recovering against the backdrop of improvements in employment conditions and corporate earnings. However, the decline in personal consumption resulting from the consumption tax increase and the global spread of COVID-19 also contributed to the situation, and the outlook for economic conditions remained uncertain.」
It continues to identify the decline in personal consumption caused by the consumption tax increase, COVID-19, and uncertainty over the economic outlook. - FY2021-Q1RestatedAnnual report
「The decline in personal consumption caused by the consumption tax increase and the global spread of COVID-19 have also contributed, and the economic outlook remains uncertain.」
It continues to identify the decline in personal consumption caused by the consumption tax increase, COVID-19, and uncertainty over the economic outlook. - FY2020WorsenedAnnual report
「Regarding the outlook, the external environment surrounding the Company remains challenging. With stagnant personal consumption due to population decline, shrinking disposable income, and increased thriftiness, as well as the consumption tax rate increase in October 2019 and the COVID-19 pandemic, the situation remains difficult to predict.」
It adds the COVID-19 pandemic as a factor worsening the external environment, in addition to stagnant personal consumption, population decline, shrinking disposable income, and the consumption tax rate increase. - FY2020-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no material changes to the existing risks, including weak personal consumption and uncertainty over the economic outlook. - FY2020-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no material changes to the existing risks, including weak personal consumption and uncertainty over the economic outlook. - FY2020-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no material changes to the existing risks, including weak personal consumption and uncertainty over the economic outlook. - FY2019WorsenedAnnual report
「Regarding the outlook, the external environment surrounding the Company remains challenging. With population decline, shrinking disposable income, stagnant personal consumption due to increased thriftiness, and a consumption tax rate increase scheduled for October 2019, among other factors, the situation remains difficult to predict.」
In addition to the previously cited weakness in personal consumption, it specifically describes population decline, shrinking disposable income, and the consumption tax rate increase scheduled for October 2019, broadening the range of factors contributing to a slowdown. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no material changes to the risks described in the previous fiscal year, including weak personal consumption and uncertainty over the economic outlook. - FY2019-Q2RestatedAnnual report
「Personal consumption has remained weak, without strength or momentum, due to sluggish real wage growth and higher burdens such as social insurance premiums」
It continues to identify weak personal consumption against a backdrop of sluggish real wage growth and higher burdens such as social insurance premiums. - FY2019-Q1RestatedAnnual report
「Personal consumption has remained weak, without strength or momentum, due to sluggish real wage growth and higher burdens such as social insurance premiums」
It continues to identify weak personal consumption against a backdrop of sluggish real wage growth and higher burdens such as social insurance premiums. - FY2018RestatedAnnual report
「Personal consumption has remained weak, without strength or momentum, due to sluggish real wage growth and higher burdens such as insurance premiums.」
It reconfirms weak personal consumption against a backdrop of sluggish real wage growth and higher burdens such as social insurance premiums. - FY2018-Q3RestatedAnnual report
「Personal consumption has remained weak due to sluggish real wage growth and higher burdens such as insurance premiums. Although there were concerns about overseas economic conditions and volatility in the financial and capital markets, the economic outlook remains uncertain.」
It reconfirms weak personal consumption against a backdrop of sluggish real wage growth and higher burdens such as insurance premiums, as well as uncertainty over the economic outlook. - FY2018-Q2RestatedAnnual report
「Personal consumption has remained weak due to sluggish real wage growth and higher burdens such as insurance premiums.」
It reconfirms weak personal consumption against a backdrop of sluggish real wage growth and higher burdens such as insurance premiums. - FY2018-Q1RestatedAnnual report
「Personal consumption has remained weak due to sluggish real wage growth and higher burdens such as insurance premiums. In addition, the economic outlook remains uncertain due to uncertainty in the global economy, including developments in the US economy and emerging economies such as China.」
It reconfirms weak personal consumption against a backdrop of sluggish real wage growth and higher burdens, as well as uncertainty over the economic outlook. - FY2017-Q3First statedAnnual report
「Although the economy continued on a gradual recovery path amid improving employment and income conditions, personal consumption remained stagnant, and the economic outlook remained uncertain due to uncertainty in the global economy, including developments in the US economy and emerging economies such as China.」
It identifies stagnant personal consumption, uncertainty over the economic outlook, and concerns about a slowdown in personal consumption as business-environment risks.