Sluggish Consumer Spending and Intensifying Competition
First written in FY2016. 10 of 30 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2026.
Artnature moved to the "Worse" side of this theme in 2016, 3 years before 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
「During the consolidated fiscal year, the economy showed a moderate recovery trend despite the impact of persistently high raw material prices, continued labor shortages and the yen's depreciation, supported by a recovery in consumer spending and inbound demand and improvements in employment and income conditions. However, the outlook remained uncertain due to surging energy prices resulting from heightened geopolitical risks, including developments in U.S. tariff policy and escalating tensions in the Middle East.」
The disclosure describes factors supporting the recovery in consumer spending and other areas, while U.S. tariff policy, the situation in the Middle East and surging energy prices were added as new sources of uncertainty. - FY2026-H1Recovery in Consumer Spending Coexisting with Cost Pressures and External UncertaintyAnnual report
「During the interim consolidated fiscal period, the economy showed a moderate recovery trend despite the impact of persistently high raw material prices, continued labor shortages and the yen's depreciation, supported by a recovery in consumer spending and inbound demand. However, the outlook remained uncertain due to developments in U.S. tariff policy, the prolonged geopolitical risks and other factors.」
The disclosure describes a recovery in consumer spending and inbound demand, while newly citing persistently high raw material prices, labor shortages, the yen's depreciation, U.S. tariff policy and geopolitical risks. - FY2025RestatedAnnual report
「During the consolidated fiscal year, the economy remained on a moderate recovery trend, supported by a recovery in consumer spending against a backdrop of improving employment and income conditions and by expanding inbound demand. However, the outlook remained uncertain due to foreign exchange fluctuations, high raw material prices and concerns that rising prices would weaken consumer sentiment.」
The disclosure cites factors supporting the recovery in consumer spending and inbound demand, while continuing to note uncertainty about the outlook due to foreign exchange rates, raw material prices and rising prices. - FY2025-H1RestatedAnnual report
「During the interim consolidated fiscal period, the economy remained on a moderate recovery trend, supported by a recovery in consumer spending as social activity normalized and the flow of people and employment and income conditions improved. However, the outlook remained uncertain due to foreign exchange fluctuations, high raw material prices and concerns that rising prices would weaken consumer sentiment.」
The disclosure describes a recovery in consumer spending driven by the recovery in the flow of people and improvements in employment and income conditions, while continuing to cite foreign exchange fluctuations, high raw material prices and concerns that rising prices would weaken consumer sentiment. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, economic activity normalized as a result of the reclassification of COVID-19 under the Infectious Diseases Act in May 2023 and other factors, and consumer spending and inbound demand were recovering. However, the outlook remained uncertain due in part to rising prices caused by the yen's depreciation and soaring raw material and energy prices.」
The normalization of economic activity was driving a recovery in consumer spending and inbound demand, while rising prices caused by the yen's depreciation and soaring raw material and energy prices coexisted with continued uncertainty about the outlook. - FY2024-Q2Recovery in Consumer Spending and Inbound Demand Coexisting with Concerns over Rising PricesAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, economic activity normalized as a result of the reclassification of COVID-19 under the Infectious Diseases Act in May 2023 and other factors, and consumer spending and inbound demand were recovering. However, the outlook remained uncertain due in part to rising prices caused by the yen's depreciation and soaring raw material and energy prices.」
The normalization of economic activity was driving a recovery in consumer spending and inbound demand, while rising prices caused by the yen's depreciation and soaring raw material and energy prices coexisted with continued uncertainty about the outlook. - FY2024-Q1Economic Normalization and Concerns over Rising Prices CoexistingAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, economic activity normalized as a result of the reclassification of COVID-19 under the Infectious Diseases Act in May 2023 and other factors, and signs of a recovery in consumer spending emerged. However, the outlook remained uncertain due in part to rising prices caused by the yen's depreciation and soaring raw material and energy prices.」
The disclosure describes the normalization of economic activity and recovery in consumer spending following the reclassification of COVID-19 under the Infectious Diseases Act, while also citing rising prices due to the yen's depreciation and soaring raw material and energy prices, together with continued uncertainty about the outlook. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, signs of a recovery in consumer spending emerged as activity restrictions related to the spread of COVID-19 were eased. However, inflationary pressure caused by surging crude oil and raw material prices due to the prolonged situation in Ukraine and by foreign exchange fluctuations affected consumer spending, and the outlook remained uncertain.」
The recovery in consumer spending following the easing of activity restrictions coexisted with the prolonged situation in Ukraine, surging crude oil and raw material prices, and inflationary pressure from foreign exchange fluctuations. - FY2023-Q1Recovery in Consumer Spending and Impact of Rising Prices CoexistingAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, signs of a recovery in consumer spending emerged as activity restrictions imposed to prevent the spread of COVID-19 were eased. However, surging crude oil and raw material prices due to Russia's invasion of Ukraine and the rapid depreciation of the yen began to affect consumer spending, and the outlook remained uncertain.」
The disclosure states that consumer spending was recovering as activity restrictions were eased, while surging crude oil and raw material prices had begun to affect consumer spending. - FY2022RestatedAnnual report
「The business environment surrounding our Company remains challenging due to intensifying competition from new entrants, including those in the hair industry and adjacent industries, and from other companies in the same industry.」
The disclosure continues to describe a challenging business environment due to intensifying competition from new entrants and other companies in the same industry. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, economic activity had been recovering as vaccinations progressed and other factors took effect despite the ongoing impact of COVID-19. However, concern arose over an economic slowdown caused by the resurgence of infections due to the emergence of new variants, and the outlook remained uncertain.」
Although the disclosure cites a trend toward economic activity recovering as vaccinations progressed, it also adds concern over a resurgence of infections due to new variants and an economic slowdown, with the uncertain external environment continuing. - FY2022-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, economic activity was restricted by the prolonged spread of COVID-19 since the previous fiscal year and the declaration of a state of emergency, while consumer spending remained sluggish. Although measures to prevent infection, including vaccination, were being implemented, the outlook remained uncertain because there was still no clear prospect of containment.」
The prolonged COVID-19 pandemic, the declaration of a state of emergency, restrictions on economic activity, sluggish consumer spending and the uncertain outlook for containment continued. Deterioration in the consumer spending environment became more pronounced. - FY2021WorsenedAnnual report
「The business environment surrounding our Company remains challenging due to intensifying competition from new entrants, including those in the hair industry and adjacent industries, and from other companies in the same industry.」
Competition continued to intensify due to new entrants and an influx of low-priced products, leaving Japan's hair-products market almost flat in fiscal 2019 at 100.3% of the previous fiscal year and a market size of ¥129.1 billion. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, economic activity was substantially restricted by the spread of COVID-19, while the economy remained in a challenging condition marked by deteriorating corporate earnings and business sentiment and declining consumer spending. In addition, the number of new infections has recently surged, and the outlook remains extremely uncertain, with a state of emergency reissued in some regions.」
The disclosure cites restrictions on economic activity due to COVID-19, deteriorating corporate earnings and business sentiment, declining consumer spending, a surge in new infections and the reissuance of a state of emergency, indicating that deterioration in the external environment has continued. - FY2021-Q1WorsenedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, Japan's domestic and overseas economies deteriorated rapidly due to the global spread of COVID-19 and the declaration of a state of emergency in Japan, leaving the outlook extremely uncertain.」
The disclosure states that, in addition to the previous stagnation in consumer spending and intensifying competition, COVID-19 and the declaration of a state of emergency caused the domestic and overseas economies to deteriorate rapidly. - FY2020WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy showed signs of a moderate recovery as corporate earnings and the employment environment continued to improve. However, the outlook remained extremely uncertain due to the impact of the consumption tax increase, concerns over a slowdown in the global economy caused by trade friction between the United States and China, and the global spread of COVID-19.」
In addition to the consumption tax increase and trade friction between the United States and China, the global spread of COVID-19 was identified, heightening uncertainty in the external environment. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained in an uncertain outlook, with corporate earnings and the employment environment continuing to improve and signs of a moderate recovery, while domestic consumer spending remained weak due in part to the impact of the consumption tax increase. Concern also arose over a slowdown in the global economy due to trade friction between the United States and China.」
The disclosure continues to cite weak domestic consumption due in part to the impact of the consumption tax increase and concerns over a slowdown in the global economy due to trade friction between the United States and China. - FY2020-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy remained in an uncertain outlook, with corporate earnings and the employment environment continuing to improve and signs of a moderate recovery, while domestic consumer spending remained weak. Concern also arose over the impact of the consumption tax increase scheduled to take effect in October 2019 and a slowdown in the global economy due to trade friction between the United States and China.」
In addition to the lack of strength in personal consumption, the impact of the planned consumption tax increase was newly identified, broadening concerns about the consumer environment. - FY2019MaterialisedAnnual report
「Although the domestic economy and consumer spending are expanding moderately, the external environment surrounding our Group remains challenging, partly due to intensifying competition from new entrants, including those in adjacent industries, and from other companies in the same industry.」
While the business environment is described as challenging due to continued intensifying competition, sales and earnings increased during the period. - FY2018MaterialisedAnnual report
「Although the domestic economy and consumer spending are expanding moderately, the business environment surrounding our Group remains challenging, partly due to intensifying competition from new entrants, including those in adjacent industries, and from other companies in the same industry.」
Although consumer spending was expanding moderately, continued intensifying competition, including from adjacent industries, affected performance through declines in full-year sales and earnings. - FY2018-Q3MaterialisedAnnual report
「The consolidated fiscal year was conducted under a plan calling for lower revenue and earnings, aimed at laying the foundations for a recovery in performance. Net sales for the cumulative third quarter of the current consolidated fiscal year were ¥27,153 million, down 5.3% year on year, mainly due to lower sales to men. Although expenses were used cautiously, mainly selling-related expenses, this was insufficient to offset the decline in net sales. Operating income was ¥1,857 million, down 17.4%, ordinary income was ¥1,987 million, down 16.9%, and net income attributable to owners of the parent was ¥848 million, down 43.8%.」
Amid a business environment including sluggish consumer spending and intensifying competition, the impact continued in the form of declines of 5.3% in sales, 17.4% in operating income, 16.9% in ordinary income and 43.8% in net income. - FY2018-Q2MaterialisedAnnual report
「The consolidated fiscal year was conducted under a plan calling for lower revenue and earnings, aimed at laying the foundations for a recovery in performance. Net sales for the cumulative second quarter of the current consolidated fiscal year were ¥17,822 million, down 4.7% year on year, mainly due to lower sales to men. Although expenses were used cautiously, mainly selling-related expenses, this was insufficient to offset the decline in net sales. Operating income was ¥1,045 million, down 7.4%; due to foreign exchange effects and other factors, ordinary income was ¥1,120 million, up 11.5%; and due to the recognition of impairment losses related to consolidated subsidiaries and other factors, net income attributable to owners of the parent was ¥387 million, down 38.5%.」
Amid a business environment including sluggish consumer spending, sales declined 4.7% year on year, mainly due to lower sales to men, with the impact continuing in the form of lower operating and net income. - FY2018-Q1MaterialisedAnnual report
「The consolidated fiscal year was conducted under a plan calling for lower revenue and earnings, aimed at laying the foundations for a recovery in performance. Net sales for the cumulative first quarter of the current consolidated fiscal year were ¥8,243 million, down 5.6% year on year, mainly due to lower sales to men. Although expenses were used cautiously, mainly selling-related expenses, this was insufficient to offset the decline in net sales. Operating loss was ¥9 million, compared with operating income of ¥321 million in the same quarter of the previous year; ordinary income was ¥16 million, down 91.3%; and net loss attributable to owners of the parent was ¥74 million, compared with net income of ¥156 million in the same quarter of the previous year.」
Amid a business environment that included sluggish consumer spending, the decline in sales and the resulting operating and net losses continued to affect performance. - FY2017MaterialisedAnnual report
「The consolidated fiscal year was conducted under a plan calling for lower revenue and earnings, aimed at laying the foundations for a recovery in performance. As a result of a decline mainly in sales to men, net sales for the fiscal year were ¥38,961 million, down 3.8% from the previous consolidated fiscal year. Although expenses were reduced, mainly selling-related expenses, this was insufficient to offset the decline in net sales and the increase in cost of sales. Operating income was ¥2,816 million, down 18.5%, ordinary income was ¥2,923 million, down 15.4%, and net income attributable to owners of the parent was ¥1,394 million, down 19.5%.」
Sluggish consumer spending and intensifying competition continued to materialize in full-year results, including a 3.8% decline in sales and an 18.5% decline in operating income. - FY2017-Q3MaterialisedAnnual report
「However, in addition to the continued stagnation in consumer spending and the impact of intensifying competition with other companies, net sales for the cumulative third quarter of the current consolidated fiscal year were ¥28,667 million, down 5.5% year on year. Although expenses were reduced, mainly selling-related expenses, this was insufficient to offset the decline in net sales and the rise in the cost-of-sales ratio. Operating income was ¥2,248 million, down 15.1%, ordinary income was ¥2,391 million, down 13.2%, and net income attributable to owners of the parent was ¥1,510 million, unchanged year on year.」
The stagnation in consumer spending and intensifying competition continued to affect results, reflected in a 5.5% decline in cumulative third-quarter sales, a 15.1% decline in operating income and a 13.2% decline in ordinary income. - FY2017-Q2MaterialisedAnnual report
「However, in addition to the impact of sluggish consumer spending and intensifying competition with other companies, net sales for the cumulative second quarter of the current consolidated fiscal year were ¥18,711 million, down 5.7% year on year. Although expenses were reduced, mainly selling-related expenses, this was insufficient to offset the decline in net sales and the increase in cost of sales. Operating income was ¥1,129 million, down 33.8%, ordinary income was ¥1,004 million, down 43.5%, and net income attributable to owners of the parent was ¥629 million, down 34.5%.」
Sluggish consumer spending and intensifying competition continued to materialize as weaker performance, including a 5.7% decline in cumulative sales and a 33.8% decline in operating income. - FY2017-Q1MaterialisedAnnual report
「However, in addition to the impact of sluggish consumer spending and intensifying competition with other companies, net sales for the cumulative first quarter of the current consolidated fiscal year were ¥8,733 million, down 9.1% year on year. Although expenses were reduced, mainly selling-related expenses, this was insufficient to offset the decline in net sales and the increase in cost of sales. Operating income was ¥321 million, down 61.5%, ordinary income was ¥191 million, down 78.7%, and net income attributable to owners of the parent was ¥156 million, down 67.9%.」
Sluggish consumer spending and intensifying competition have materialized in the form of declines in sales and earnings during the quarter. - FY2016First statedAnnual report
「However, in addition to the economic recovery remaining stalled, intensifying competition with other companies and other factors caused sales of products for women in particular to fall below plan.」
The stalled economic recovery and intensifying competition materialized as sales of products for women falling below plan and declines in revenue and earnings.