Economic fluctuations and changes in consumer sentiment

「Consumer sentiment in the domestic market is improving, supported by higher employee income, the recovery in inbound demand and the expansion of EC sales channels, among other factors.」

「Consumer sentiment in the domestic market is improving, supported by higher employee income, the recovery in inbound demand and the expansion of EC sales channels, among other factors.」

「Meanwhile, overseas markets offer considerable room for deeper penetration, both by product and by region, while consumer sentiment in the domestic market is improving following the lifting of behavioral restrictions related to COVID-19 and improvements in employee income, among other factors.」

「In the jewelry industry, foot traffic at commercial facilities also began to recover, and some signs of a recovery in consumption emerged with the return of inbound demand and the resumption of event sales. However, the market environment remains challenging as consumers have become more inclined to economize amid successive price increases for consumer goods.」

「In the jewelry industry, high-priced products remained steady, particularly at department stores, during the Christmas and year-end sales season. However, the market environment remains challenging due to a heightened focus on household financial protection against intermittent price increases, as well as higher personnel and logistics costs.」

「In the jewelry industry, consumers' preference for saving strengthened as prices for necessities, including food and daily goods, increased, and jewelry consumption has continued to stagnate.」

「In the jewelry industry, consumer sentiment toward jewelry remains weak as price increases caused by the weaker yen continue to have an impact.」

「In the jewelry industry, consumer demand for jewelry lacks strength and has yet to achieve a full-scale recovery, partly due to higher prices for necessities.」

「In the jewelry industry, the resumption of business activities after the COVID-19 shock coincided with the Christmas and year-end sales season, creating signs of a relatively strong recovery. However, the rebound in so-called revenge spending after the prolonged period of self-restraint has been very weak, and the market environment remains challenging.」

「In the jewelry industry, business activities have gradually resumed and consumption has expanded, primarily through e-commerce. However, consumer restraint continued due to the impact of the state of emergency, which remained in effect through September this year, while customer traffic at department stores and commercial facilities and event-based sales were significantly restricted. The business environment therefore remains challenging.」

「Because the products handled by the Group are not necessities, they are susceptible to the impact of economic fluctuations and changes in consumer sentiment,」

「Although demand for high-priced products has remained steady and shown signs of recovery against a backdrop of rising stock prices, attendance at events has declined and consumers continue to refrain from spending. The market environment therefore remains challenging.」

「In the jewelry industry, consumers' tendency to refrain from spending due to weak sentiment toward jewelry has persisted for an extended period, while competition among companies has intensified, resulting in a continued challenging earnings environment.」

「In the jewelry industry, business activities have gradually resumed since the state of emergency was lifted, but the earnings environment remains challenging as consumers continue to refrain from spending.」

「In the jewelry industry, business activities, including exhibitions and sales events, gradually resumed after the state of emergency was lifted, but the earnings environment remained challenging as consumers continued to refrain from spending.」

「In the jewelry industry, the earnings environment became challenging due to requests to refrain from going out and stay-at-home orders associated with the state of emergency, the closure of commercial facilities, the postponement of the Tokyo Olympic and Paralympic Games, which had been expected to generate inbound demand, and the postponement or cancellation of successive exhibitions and sales events.」

「In the jewelry industry, the earnings environment became challenging as inbound consumption, which had gained momentum in recent years, began to settle, demand fell back after the rush before last October's consumption tax increase, and a series of natural disasters strengthened consumers' preference for saving. Although inbound demand during the Tokyo Olympic and Paralympic Games and the resulting boost in domestic consumption are expected, the domestic jewelry market is expected to remain weak for the time being because of concerns over the spread of the novel coronavirus in the short term.」

「However, the domestic jewelry market is expected to remain relatively steady, given anticipated inbound demand during the 2020 Tokyo Olympic and Paralympic Games and the expected stimulation of domestic demand.」

「In Japan, the company was unable to offset the decline in revenue caused by consumers holding back from purchasing Dancing Stone products amid weak consumer sentiment.」

「In the jewelry industry, growth turned positive in 2017 after a contractionary trend that had continued since 2015, but the earnings environment became challenging as consumer purchasing behavior diversified and the preference for saving strengthened, with no clear improvement in consumer sentiment toward jewelry.」

「In the jewelry industry, growth turned positive in 2017 after a contractionary trend that had continued since 2015, but the earnings environment became challenging due to the impact of natural disasters during the first quarter of the current consolidated cumulative period. However, the jewelry market is expected to remain relatively steady for the time being, given anticipated rush demand before the consumption tax rate increase scheduled for 2019 and inbound and domestic demand generated by the 2020 Tokyo Olympic and Paralympic Games.」

「Because the products handled by the Group are not necessities, they are susceptible to the impact of economic fluctuations and changes in consumer sentiment. If the consumer environment changes, including through an economic downturn, this could affect the Group's financial position and operating results.」

「Although there are signs of improvement in personal consumption, a tendency toward thrift driven by concerns about the future persists, and consumer sentiment toward luxury goods has yet to improve. The business environment surrounding the industry therefore remains challenging.」

「Although the economy appears to be recovering, luxury goods have yet to benefit in the jewelry industry. Consumer sentiment has not improved amid uncertainty over the economic outlook, and the business environment surrounding the industry remains challenging.」

「In the jewelry industry, personal consumption has not recovered amid uncertainty over the economic outlook, and consumer sentiment has yet to improve. The business environment surrounding the industry therefore remains challenging.」

「Because the products handled by the Group are discretionary goods rather than necessities, they are susceptible to the impact of economic fluctuations and changes in consumer sentiment,」