Weakness in the packaged market driven by software distribution and smartphone games
First written in FY2017-Q1. 15 of 28 entries say "Restated". Latest entry: 2026-08-10.
Happinet moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 3 of 7 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- 2026-08-10RestatedEarnings
「The business environment remained uncertain as entertainment continued to become more digital.」
The uncertainty of market conditions associated with the digitalization of entertainment has been reaffirmed. - FY2026RestatedAnnual report
「In the visual and music business, the packaged market has remained in a difficult environment due to the spread of streaming services and other factors, while content businesses are expected to continue growing as the ways in which people enjoy entertainment diversify.」
While continuing to describe the severity of the packaged market due to the spread of streaming services, the company also presents the expected growth of content businesses. - 2026-05-14RestatedRevisions to earnings forecasts
「During the consolidated fiscal year under review, the industries relevant to the Group remained in an uncertain environment. Markets that have captured expanding consumer segments, including demand from adults, performed well, while energy and raw-material prices rose, the birthrate declined, consumer needs diversified, and entertainment continued to become more digital.」
The disclosure continues to cite the digitalization of entertainment as a source of uncertainty about the outlook. - FY2026-H1RestatedAnnual report
「In the industries related to our Group during the interim consolidated accounting period, the market incorporating demand from adults and inbound demand remained solid. However, the outlook remained uncertain as prices rose and Japan’s declining birthrate, increasingly diverse consumer needs and the digitalization of entertainment continued.」
The uncertainty of the market environment resulting from the increasing digitalization of entertainment continues to be described as a business-environment risk. - FY2025ReframedAnnual report
「In the visual and music business, the packaged market has remained in a difficult environment as the adoption of streaming services has accelerated, while content businesses and experiential businesses such as events and live entertainment are expected to continue growing.」
The description has shifted to presenting content businesses and events and live entertainment as growth areas alongside the continuing risk of contraction in the packaged market due to streaming services. - FY2025-H1RestatedAnnual report
「In the industries related to our Group during the interim consolidated accounting period, foot traffic to commercial facilities and other locations and inbound demand are expanding. However, the outlook remains uncertain as Japan’s declining birthrate, increasingly diverse consumer needs and the digitalization of entertainment continue.」
The uncertainty of the market environment, including the digitalization of entertainment, continues to be described. - FY2024-Q3RestatedAnnual report
「The business environment remained uncertain as entertainment continued to become more digital.」
The uncertainty of the market environment resulting from the increasing digitalization of entertainment continues to be described as a risk for related industries. - FY2023ReframedAnnual report
「In the video game business, the user base has expanded following the stay-at-home demand during the COVID-19 pandemic and the global game market is growing. However, the packaged market is expected to contract over the medium term as digital sales grow, and the business has remained in an uncertain environment.」
The risk of contraction in the packaged market is explained not only in terms of services for smartphones, but also as medium-term growth in digital sales. - FY2022ReframedAnnual report
「In the visual and music business, the packaged market has remained in a difficult environment as the adoption of streaming services has accelerated, while experiential businesses such as live entertainment have been recovering from the COVID-19 pandemic and market growth is expected going forward. In the video game business, although the home video game console market has remained strong, supported by hit products, the packaged market is also expected to contract over the medium term as digital sales grow」
The company separately describes the severity of the packaged market and the recovery in live entertainment and other experiential businesses in the visual and music segment, while distinguishing the current strength of the video game business from the medium-term contraction of the packaged market due to growth in digital sales. - FY2022-Q2SoftenedAnnual report
「In the visual and music business, revenue exceeded the level of the same period of the previous year, reflecting the recovery from that period, when new releases were postponed amid the COVID-19 pandemic, as well as some hit products such as the Blu-ray of the anime Uma Musume Pretty Derby Season 2.」
The visual and music business recovered from the same period of the previous year, which was affected by postponed new releases, and revenue exceeded the level of the same period of the previous year. The wording concerning the risk of a downturn in the packaged market has temporarily softened. - FY2022-Q1SoftenedAnnual report
「In the visual and music business, the packaged market was on a recovery trend from the same period of the previous year, when it was affected by postponed new releases. In addition, some hit products, including the packaged version of the film Demon Slayer: Kimetsu no Yaiba the Movie: Mugen Train, resulted in both revenue and profit exceeding the level of the same period of the previous year.」
Compared with the same period of the previous year, which was affected by postponed new releases, the visual and music packaged market is described as being on a recovery trend, temporarily softening the previous wording concerning the risk of a prolonged market downturn. - FY2021RestatedAnnual report
「In the visual and music business, the packaged market has remained in a difficult environment, with theaters closing and new releases being postponed amid the COVID-19 pandemic, while the adoption of streaming services has accelerated.」
For the full year, the company is again confirming the severity of the packaged market due to the spread of streaming services, along with the impact of theater closures and postponed new releases. - FY2021-Q2WorsenedAnnual report
「In the visual and music business, although there were some hit products, including Kenshi Yonezu's album "STRAY SHEEP" and the packaged version of the anime Princess Connect! Re:Dive, for which we have exclusive distribution rights, they were not enough to offset the decline through the first quarter caused by the accelerated adoption of streaming services amid stay-at-home requests and the postponement of new releases. Revenue and profit therefore remained sluggish.」
The accelerated adoption of streaming services due to stay-at-home requests, together with the postponement of new releases, resulted in revenue from the visual and music business falling 12.3% and segment profit falling 11.3%. - FY2021-Q1WorsenedAnnual report
「In the visual and music market, although there were some hit products, including the packaged version of Frozen 2, the overall packaged market remained in a difficult environment as stay-at-home requests accelerated the adoption of streaming services. In addition, the postponement of new releases and cancellation of events resulted in both revenue and profit falling below the level of the same period of the previous year.」
In addition to the decline in the packaged market due to the spread of streaming services, the postponement of new releases and cancellation of events caused by the infectious disease also weighed on the visual and music business, resulting in lower revenue and profit. - FY2020-Q3RestatedAnnual report
「In the industries related to our Group during the cumulative nine-month period under review, conditions remained difficult due to the higher consumption tax rate, Japan’s declining birthrate and increasingly diverse consumer needs in the toy market, and the sluggish packaged-product market in the video and music market and video game market resulting from the growing adoption of streaming and services for smartphones.」
The company reconfirms that the packaged-product markets for video and music and video games continue to decline due to the growing adoption of streaming and services for smartphones. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company reconfirms that there have been no material changes to the business and other risks related to the sluggish packaged-product market resulting from the growing adoption of software streaming and services for smartphones. - FY2020-Q1RestatedAnnual report
「In the industries related to our Group during the cumulative three-month period under review, the toy market remained broadly flat as the target customer base and product genres expanded despite Japan’s declining birthrate. The video and music market and video game market remained difficult owing to the sluggish packaged-product market resulting from the growing adoption of streaming and services for smartphones.」
The company reconfirms that the packaged-product markets for video and music and video games continue to decline due to the growing adoption of streaming and services for smartphones. - FY2019ReframedAnnual report
「In the industries related to our Group, conditions in the toy market remain difficult due to Japan’s declining birthrate and increasingly diverse consumer needs. The video and music market and video game market also remain difficult, owing to the sluggish packaged-product market resulting from the growing adoption of streaming and services for smartphones.」
The decline in the packaged-product markets for video and music and video games has been combined under the explanation that it results from the growing adoption of streaming and services for smartphones, with both markets discussed together. - FY2019-Q3ReframedAnnual report
「In the industries related to our Group during the cumulative nine-month period under review, the toy market remained difficult due to Japan’s declining birthrate and increasingly diverse consumer needs. Although there were some hit products in the video and music market and video game market, both markets remained difficult owing to the sluggish packaged-product market resulting from the growing adoption of streaming and services for smartphones.」
The video and music market and video game market have been combined under the explanation that their packaged-product markets are sluggish due to the growing adoption of streaming and services for smartphones. Although some hit products are also mentioned, market conditions are still described as difficult. - FY2019-Q2WorsenedAnnual report
「The video and music market performed well, driven by several hit products. However, the toy market remained difficult due to Japan’s declining birthrate and increasingly diverse consumer needs, while the video game market remained difficult owing to the sluggish packaged-product market resulting from the growing adoption of games for smartphones.」
The video game market, previously described as recovering or performing well, is explicitly described as difficult due to the sluggish packaged-product market resulting from the growing adoption of games for smartphones. - FY2019-Q1RestatedAnnual report
「In the industries related to our Group during the cumulative three-month period under review, the video game market performed well, driven by several hit products. However, the toy market remained difficult due to increasingly diverse consumer needs, while the video and music market remained difficult due to the diversification of viewing methods, including the growing adoption of streaming services.」
The company reconfirms the previous quarter’s assessment that difficult conditions in the video and music market will continue due to the diversification of viewing methods, including the growing adoption of streaming services. - FY2018-Q3ReframedAnnual report
「In the industries related to our Group during the cumulative nine-month period under review, the video game market continued to show signs of recovery. However, the toy market remained difficult due to Japan’s declining birthrate and increasingly diverse consumer needs, while the video and music market remained difficult due to the diversification of viewing methods, including the growing adoption of streaming services.」
The factor cited for the video and music market has changed from the previous “sluggish packaged-product market due to software streaming” to “the diversification of viewing methods, including the growing adoption of streaming services.” The assessment that market conditions remain difficult continues. - FY2018-Q2RestatedAnnual report
「Although the video game market continues to show signs of recovery, the toy market remains difficult due to Japan’s declining birthrate and increasingly diverse consumer needs, while the video and music market remains difficult owing to the sluggish packaged-product market resulting from the growing adoption of software streaming.」
The previous separate description of the video game market’s recovery and the video and music packaged-product market’s decline due to software streaming continues. - FY2018-Q1ReframedAnnual report
「Although the video game market showed signs of recovery following the launch of “Nintendo Switch,” the toy market remained difficult due to Japan’s declining birthrate and increasingly diverse consumer needs, while the video and music market remained difficult owing to the sluggish packaged-product market resulting from the growing adoption of software streaming.」
The related markets, previously described collectively as difficult, are now described separately: the video game market recovered following the launch of Nintendo Switch, while the video and music market continues to face a sluggish packaged-product market. - FY2017RestatedAnnual report
「The video and music market and video game market also remain difficult, owing to the sluggish packaged-product market resulting from the growing adoption of video and music streaming and games for smartphones.」
The sluggish packaged-product market resulting from the growing adoption of software streaming and games for smartphones continues to be identified as a business-environment risk. - FY2017-Q3RestatedAnnual report
「The video and music market and video game market also remain difficult, owing to the sluggish packaged-product market resulting from the growing adoption of video and music streaming and games for smartphones.」
The sluggish packaged-product market resulting from the growing adoption of software streaming and games for smartphones continues to be cited. - FY2017-Q2RestatedAnnual report
「The video and music market and video game market also remain difficult, owing to the sluggish packaged-product market resulting from the growing adoption of video and music streaming and games for smartphones.」
The sluggish packaged-product market resulting from the growing adoption of software streaming and games for smartphones continues to be identified as an external-environment risk. - FY2017-Q1First statedAnnual report
「The video and music market and video game market also remain difficult, owing to the sluggish packaged-product market resulting from the growing adoption of video and music streaming and games for smartphones.」
The growing adoption of video and music streaming and games for smartphones is identified as a structural factor contributing to the sluggish packaged-product markets for video and music and video games.