Impact of the Consumption Tax Increase on the Higher Tax Rate for Dining Out
First written in FY2020-Q3. 1 of 3 entries say "Materialised", first in FY2020. Latest entry: FY2021-Q1.
1 other company's latest entry also says "Restated".
- FY2021-Q1RestatedAnnual report
「In the food-service industry, the difficult environment continues amid intensifying competition with other industries and the labor shortage, as well as consumers' continued preference for low prices and thrift in response to the consumption tax increase.」
The company continues to explain that consumers' preference for lower prices and saving money has persisted following the consumption tax increase. - FY2020MaterialisedAnnual report
「Regarding costs, the cost ratio was 27.4%, compared with 27.0% in the previous period, due to the lowering of the ex-tax prices of some menu items, including Chinese noodles and draft beer, when the consumption tax was revised in October, as well as the implementation of a renewed gyoza campaign.」
When the consumption tax was revised, prices for some menu items were reduced, and the cost ratio rose from 27.0% in the previous fiscal year to 27.4%. - FY2020-Q3First statedAnnual report
「Meanwhile, conditions surrounding the industry were challenging, including the increase in the tax rate on dining out resulting from the consumption tax increase.」
The increase in the tax rate on dining out resulting from the consumption tax increase can be identified for the first time as a standalone theme and a factor contributing to the challenging conditions surrounding the restaurant industry.