Stagnant real wages, consumer thrift and intensifying cross-sector competition
First written in FY2017-Q1. 22 of 38 entries say "Restated". Latest entry: FY2026.
Handsman moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2018: 16 of 40 companies on the "Worse" side.
13 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「At the same time, as consumer awareness of protecting household finances rises amid continued inflation, the outlook remains uncertain, partly due to the impact of the situation in the Middle East.」
Amid continued price increases and stronger consumer focus on protecting household finances, the company identifies the situation in the Middle East as a new source of uncertainty. - FY2026-H1MaterialisedAnnual report
「In addition to the reaction to the sharp increase in disaster-prevention product sales in the year-earlier period following earthquakes and typhoons, the company was affected by consumers holding back on purchases due to rising prices,」
The company states that consumers holding back on purchases due to rising prices, together with the reaction to demand for disaster-prevention products in the year-earlier period, contributed to the decline in customer traffic and sales during the interim accounting period. - FY2025RestatedAnnual report
「During the fiscal year, Japan's economy remained on a moderate recovery trend, supported by improvements in employment and income conditions and increased inbound demand. However, continued price increases for all types of goods and services strengthened consumers' cost-consciousness, and uncertainty about the economic outlook persists.」
While referring to the economic recovery supported by employment and income conditions and inbound demand, the company continues to describe rising prices, stronger consumer cost-consciousness, and uncertainty about the economic outlook. - FY2025-H1RestatedAnnual report
「Amid a surge in product discontinuations and price increases by suppliers against a backdrop of higher raw-material costs and the weakening yen, the company has focused on finding and developing replacement products, striving to continue selling products and maintain selling prices to the greatest extent possible.」
The company states that frequent product discontinuations and price increases caused by higher raw-material costs and the weakening yen have created a challenging environment in which consumers are increasingly focused on protecting their household finances, while it is responding by finding and developing substitute products. - FY2024MaterialisedAnnual report
「Meanwhile, same-store sales in the Kyushu region were affected not only by consumers holding back on purchases due to rising prices」
The company states that consumers holding back on purchases due to rising prices affected same-store sales in the Kyushu region, which were 99.2% of the previous fiscal year. - FY2024-Q3MaterialisedAnnual report
「Meanwhile, same-store sales in the Kyushu region were affected by consumers holding back on purchases due to rising prices」
The company states that consumers holding back on purchases amid rising prices affected same-store sales in the Kyushu region, which were 99.6% of the year-earlier period. - FY2024-Q2MaterialisedAnnual report
「During the cumulative second quarter period, same-store sales were 99.6% of the year-earlier period, partly due to the impact of consumers holding back on purchases amid rising prices, although」
The company states that consumers holding back on purchases amid rising prices affected same-store sales, which were 99.6% of the year-earlier period. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter period, economic activity moved toward normalization as restrictions related to COVID-19 were eased. However, energy and raw-material prices remained high and inflation caused by the prolonged weakening yen continued, strengthening consumers' cost-consciousness, and the challenging environment continues.」
While restrictions were eased and economic activity continued to normalize, the company continues to describe soaring energy and raw-material prices, inflation caused by the prolonged weakening yen, and stronger consumer cost-consciousness as a challenging consumption environment. - FY2023RestatedAnnual report
「During the fiscal year, social and economic activity moved toward normalization as restrictions related to COVID-19 were gradually eased. However, energy and raw-material prices remained high and inflation caused by the weakening yen continued, strengthening consumers' cost-consciousness and leaving the economic outlook uncertain.」
While social and economic activity continued to normalize, the company continues to describe soaring energy and raw-material prices, inflation caused by the weakening yen, stronger consumer cost-consciousness, and uncertainty about the economic outlook. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter period, economic activity moved toward normalization as restrictions were eased while the impact of COVID-19 continued. However, energy and raw-material prices remained high and inflation caused by the weakening yen continued, strengthening consumers' cost-consciousness and leaving the economic outlook uncertain.」
While economic activity continued to normalize, the company continues to describe soaring energy and raw-material prices, inflation caused by the weakening yen, stronger consumer cost-consciousness, and uncertainty about the economic outlook. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter period, economic activity moved toward normalization as restrictions were eased while the impact of COVID-19 continued. However, energy and raw-material prices remained high and inflation caused by the weakening yen continued, strengthening consumers' cost-consciousness and leaving the economic outlook uncertain.」
While economic activity continued to move toward normalization, the company continues to describe rising prices, stronger consumer cost-consciousness, and uncertainty about the economic outlook. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter period, Japan's economy showed signs of moving toward normalization as restrictions were eased while the impact of COVID-19 continued. However, resource and raw-material prices remained high and inflation caused by the weakening yen continued, leaving the economic outlook uncertain.」
While referring to the normalization of economic activity following the easing of restrictions, the company continues to describe soaring resource and raw-material prices, inflation caused by the weakening yen, and uncertainty about the economic outlook. - FY2022WorsenedAnnual report
「During the fiscal year, Japan's economy continued to move unevenly as the prolonged impact of COVID-19 persisted. Although economic activity temporarily showed signs of recovery as vaccination became more widespread, the emergence of new variants from the start of the year caused repeated ups and downs. In addition, soaring resource and raw-material prices and inflation caused by the weakening yen further worsened the environment surrounding private consumption, and uncertainty about the outlook remains.」
In addition to the prolonged impact of COVID-19 and new variants, the company states that soaring resource and raw-material prices and inflation caused by the weakening yen have made the environment surrounding private consumption increasingly challenging. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter period, Japan's economy remained challenging. Although economic activity temporarily showed signs of recovery as vaccination became more widespread, it was again constrained by the spread of new variants. In addition, soaring resource and raw-material prices and inflation caused by the weakening yen have recently added to the pressures, making the environment surrounding private consumption increasingly challenging.」
In addition to the prolonged impact of COVID-19 and restrictions on economic activity caused by variants, the company identifies soaring resource and raw-material prices and inflation caused by the weakening yen as new factors, indicating that the environment surrounding private consumption has become more challenging. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter period, Japan's economy remained challenging as the impact of COVID-19 continued to constrain economic activity. Although the number of infections declined from autumn onward as vaccination became more widespread and economic activity showed signs of recovery, infections with a new variant have recently begun to spread again, and uncertainty about the outlook continues.」
While referring to the decline in infections and recovery in economic activity following the rollout of vaccines, the company describes the renewed spread of a new variant and continued uncertainty about the outlook, maintaining its assessment of a challenging economic environment caused by COVID-19. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter period, economic activity was severely restricted by the rapid spread of COVID-19 variants, while consumption remained weak, partly due to poor summer weather. Although normalization of economic activity is expected as vaccination becomes more widespread, the timing of containment remains unforeseeable, and uncertainty about the outlook continues.」
The company newly specifies restrictions on economic activity caused by the rapid spread of variants, weak consumption caused by poor summer weather, and uncertainty about when the spread will be contained, further defining the previously identified challenging business environment caused by COVID-19. - FY2021RestatedAnnual report
「During the fiscal year, Japan's economy remained extremely challenging as the prolonged impact of COVID-19 caused corporate earnings and business sentiment to deteriorate and private consumption to decline. Although the spread is expected to subside as vaccination becomes more widespread, the timing of containment remains unforeseeable, and uncertainty about the economic outlook continues.」
The company continues to describe the prolonged impact of COVID-19, deteriorating corporate earnings and business sentiment, declining private consumption, and uncertainty about when the spread will be contained as a challenging economic environment for the full fiscal year. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter period, Japan's economy remained extremely challenging as the prolonged impact of COVID-19 caused corporate earnings and business sentiment to deteriorate and private consumption to decline. Although the spread is expected to subside as vaccination becomes more widespread, the timing of containment remains unforeseeable, and uncertainty about the economic outlook continues.」
The company describes the prolonged impact of COVID-19, deteriorating corporate earnings and business sentiment, declining private consumption, and uncertainty about when the spread will be contained, indicating that the challenging economic environment is continuing and becoming prolonged. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter period, Japan's economy remained extremely challenging as the spread of COVID-19 severely restricted economic activity, corporate earnings and business sentiment deteriorated, and private consumption declined. The timing of the containment of the spread remains unforeseeable, and uncertainty about the outlook continues.」
Restrictions on economic activity caused by COVID-19, deteriorating corporate earnings and business sentiment, declining private consumption, and uncertainty about when the spread will be contained continue to be described as an extremely challenging business environment. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter period, Japan's economy remained extremely challenging as the spread of COVID-19 severely restricted economic activity, corporate earnings and business sentiment deteriorated, and private consumption declined. The timing of the containment of the spread remains unforeseeable, and uncertainty about the outlook continues.」
In addition to its previous assessment of stagnant consumption and intensifying competition, the company describes restrictions on economic activity caused by the spread of COVID-19, deteriorating corporate earnings and business sentiment, declining private consumption, and uncertainty about when the spread will be contained, indicating a more challenging consumption environment. - FY2020RestatedAnnual report
「During the fiscal year, the retail environment became extremely challenging as sales competition across business formats intensified, consumer sentiment weakened following the consumption tax increase, and the impact of the spread of COVID-19 became more severe, increasing uncertainty about the outlook.」
The company continues to describe intensifying competition across business formats, weaker consumer sentiment following the consumption tax increase, the increasingly severe impact of COVID-19, and uncertainty about the outlook as an extremely challenging business environment for the full fiscal year. - FY2020-Q3WorsenedAnnual report
「During the cumulative third quarter period, the retail environment remained challenging due to intensifying sales competition across business formats, weaker consumer sentiment following the consumption tax increase, and chronic labor shortages. In addition, a decline in private consumption became unavoidable as the novel coronavirus disease spread, and uncertainty about the outlook increased sharply.」
In addition to the previously identified intensifying sales competition and weaker consumer sentiment, the company describes chronic labor shortages, a decline in private consumption caused by the spread of COVID-19, and increased uncertainty about the outlook, indicating that the business environment has become more challenging. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter period, there was front-loaded demand for high-priced goods and daily necessities ahead of the consumption tax rate increase. However, after the increase, consumption declined as a result of the backlash and weaker consumer sentiment, while sales competition across business formats remained intense, resulting in a challenging environment.」
In addition to the previously identified cost-consciousness and intensifying competition across business formats, the company describes the post-tax-increase backlash and weaker consumer sentiment as actual business-environment factors. - FY2020-Q1WorsenedAnnual report
「During the cumulative first quarter period, some consumer spending, particularly on high-priced goods, increased due to front-loaded demand ahead of the consumption tax rate increase. However, consumers' entrenched cost-consciousness toward daily necessities, including consumables, remained strong, leaving concerns about a subsequent decline following the tax increase.」
In addition to the previously identified consumer cost-consciousness, the company describes front-loaded demand ahead of the consumption tax rate increase and concerns about a subsequent decline following the tax increase as new business-environment factors. - FY2019RestatedAnnual report
「During the fiscal year, Japan's retail environment remained challenging. While employment and income conditions continued to improve, private consumption lacked momentum against a backdrop of cost-consciousness, while sales competition across business formats, including the expansion of the e-commerce market, intensified.」
While noting the improvement in employment and income conditions, the company continues to describe cost-consciousness, weak private consumption, and intensifying competition across business formats, including the expansion of the e-commerce market, as a challenging business environment. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter period, Japan's retail environment remained challenging. While employment and income conditions continued to improve, private consumption lacked momentum against a backdrop of cost-consciousness, while sales competition across business formats, including the expansion of the e-commerce market, intensified.」
While noting the improvement in employment and income conditions, the company continues to recognize the previously identified risks of weak private consumption and intensifying sales competition across business formats, including the expansion of the e-commerce market. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter period, the retail environment remained challenging. Although employment conditions improved, the recovery in private consumption lacked momentum against a backdrop of cost-consciousness, while sales competition across business formats, including the expansion of the e-commerce market, intensified.」
Cost-consciousness, weak private consumption, and intensifying competition across business formats, including the expansion of the e-commerce market, continue to be described as a challenging business environment. - FY2019-Q1WorsenedAnnual report
「During the cumulative first quarter period, the retail environment remained challenging. Although employment conditions improved, the recovery in private consumption lacked momentum against a backdrop of cost-consciousness, while sales competition across business formats, including the expansion of the e-commerce market, intensified.」
In addition to the previously identified intensifying competition, including from other industries, the company explicitly identifies the expansion of the e-commerce market as a competitive factor, broadening the scope of competitive risk. - FY2018RestatedAnnual report
「During the fiscal year, the retail environment remained challenging. Although employment conditions improved, the recovery in private consumption lacked momentum against a backdrop of cost-consciousness, while labor shortages became more pronounced and sales competition across business formats intensified.」
The company continues to recognize consumer cost-consciousness, weak private consumption, and intensifying sales competition across business formats. It also refers to improving employment conditions and increasingly acute labor shortages. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter period, the retail environment remained challenging. Although employment conditions improved, the recovery in private consumption lacked momentum against a backdrop of entrenched consumer cost-consciousness, while competition among companies, including those from other industries, intensified.」
While noting the improvement in employment conditions, the company continues to describe a challenging business environment characterized by consumer cost-consciousness, weak private consumption, and intensifying competition, including from other industries. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter period, the retail environment remained challenging. Although employment conditions improved, the recovery in private consumption lacked momentum against a backdrop of entrenched consumer cost-consciousness, while competition among companies, including those from other industries, intensified.」
While noting the improvement in employment conditions, the company continues to describe a challenging business environment characterized by consumer cost-consciousness, weak private consumption, and intensifying competition, including from other industries. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter period, the retail environment remained challenging. Although employment conditions improved, the recovery in private consumption lacked momentum against a backdrop of entrenched consumer cost-consciousness, while competition among companies, including those from other industries, intensified.」
While noting the improvement in employment conditions, the company continues to recognize a challenging business environment characterized by consumer cost-consciousness, weak private consumption, and intensifying competition, including from other industries. - FY2017RestatedAnnual report
「During the fiscal year, the retail environment remained challenging, with private consumption continuing to stagnate against a backdrop of sluggish disposable-income growth and entrenched consumer cost-consciousness, while competition among companies across business formats intensified further.」
Sluggish disposable-income growth, consumer cost-consciousness, stagnant private consumption, and intensifying competition across business formats continue to be described as a challenging business environment. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter period, the retail environment remained challenging, with private consumption continuing to stagnate against a backdrop of sluggish disposable-income growth and entrenched consumer cost-consciousness, while competition among companies across business formats intensified further.」
Although the wording has changed from real wages to disposable income, the assessment of the business environment remains unchanged: consumers' cost-consciousness, sluggish private consumption, and intensifying competition across business formats. - FY2017-Q2RestatedAnnual report
「Consumer thrift has remained entrenched due to stagnant real wages and other factors, personal consumption has remained sluggish, and competition among companies across business formats has intensified further, resulting in continued challenging conditions.」
As in the previous fiscal year, the business environment is described as stagnant real wages, consumers' cost-consciousness, sluggish private consumption, and intensifying competition across business formats. - FY2017-Q1First statedAnnual report
「Consumer thrift has remained entrenched due to stagnant real wages and other factors, personal consumption has remained sluggish, and competition among companies across business formats has intensified further, resulting in continued challenging conditions.」
Describes stagnant consumer conditions and intensifying competition as the business environment surrounding the retail industry during the quarter.