Demand contraction due to recessions in major markets
First written in FY2016. 19 of 36 entries say "Mitigated", first in FY2020-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2022: 125 of 168 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「As the sports market remained firm globally, particularly in Asia, we continued to communicate the success of our contracted players in international tournaments and strengthen our “Head to Toe” proposals, while expanding customer touchpoints through regional sales activities, pop-up stores, various events and e-commerce, in addition to working to broaden the sport’s fan base and further energize the market.」
As the global sports market remained firm and sales and marketing initiatives progressed, the downward impact of the risk of shrinking demand continued to ease. - FY2026-H1MitigatedAnnual report
「Amid firm conditions in the sports market, the company disseminated information highlighting the achievements of its sponsored athletes at international tournaments, while focusing on marketing activities timed to tournaments and grassroots promotional activities worldwide to further stimulate the market. As a result, consolidated net sales were ¥79,532 million, up 18.8% from the same period of the previous year.」
Against a backdrop of firm conditions in the sports market and promotional activities featuring tournaments and athletes, consolidated net sales rose 18.8% year on year, and the downward impact of the risk of shrinking demand has eased. - FY2025MitigatedAnnual report
「During the fiscal year, the international sporting event that opened in Paris in July and other international competitions, together with the performance of athletes from various countries, including the Company’s contracted athletes, revitalized the sports market and increased attention toward the Company’s products, resulting in record consolidated net sales.」
Demand remained firm across regions against a backdrop of the resumption and staging of international tournaments, strong performances by athletes and grassroots promotional activities, continuing to mitigate the downward impact of shrinking demand in key markets. - FY2025-H1MitigatedAnnual report
「Sports activities continued to be active, and the company focused on marketing activities featuring international tournaments and its sponsored athletes to further stimulate the market. In particular, the badminton market strengthened in China, the largest market, as well as in Japan, other parts of Asia and Europe, and demand remained firm.」
The increased activity in sports and firm demand across regions continued to mitigate the downward impact of the risk of shrinking demand in key markets. - FY2024MitigatedAnnual report
「During the consolidated fiscal year under review, sports demand remained firm as various tournaments resumed and sporting activities became more active, while the company’s grassroots promotional activities also proved effective.」
Demand remained firm across regions worldwide against a backdrop of tournament resumptions and promotional activities, further mitigating the downward impact of the risk of shrinking demand in key markets. - FY2024-Q2MitigatedAnnual report
「As sports demand remained firm across regions worldwide, each regional segment of the sports equipment business recorded revenue growth.」
As sports demand remained firm across regions worldwide and each regional segment of the sports equipment business recorded revenue growth, the downward impact of shrinking demand in key markets continued to ease. - FY2024-Q1MitigatedAnnual report
「During the cumulative first quarter under review, demand for sports remained firm in all regions worldwide, resulting in revenue growth in each regional segment of the sports equipment business.」
As sports demand remained firm across regions worldwide and each regional segment recorded revenue growth, the downward impact of shrinking demand in key markets continued to ease. - FY2023-Q3MitigatedAnnual report
「During the cumulative third quarter under review, demand strengthened in all regions, and both net sales and profit reached record highs for the cumulative third quarter.」
As demand strengthened in all regions and net sales and profit reached record highs for the cumulative third quarter, the impact of shrinking demand in key markets was further mitigated. - FY2023-Q2MitigatedAnnual report
「During the cumulative second quarter under review, demand continued to recover in all regions, and both net sales and profit reached record highs for the cumulative second quarter.」
As demand continued to recover in all regions and net sales and profit reached record highs for the cumulative second quarter, the impact of shrinking demand in key markets was further mitigated. - FY2023-Q1MitigatedAnnual report
「During the cumulative first quarter under review, sales of badminton equipment and other products remained strong in China, while demand recovered fully in all regions, resulting in increases in revenue and profit in every segment. Both net sales and profit reached record highs for a first quarter.」
As demand recovered fully in all regions, including China, all segments recorded increases in revenue and profit, further mitigating the impact of shrinking demand in key markets. - FY2022-Q3MitigatedAnnual report
「Compared with the previous fiscal year, which was heavily affected by COVID-19, the group recorded increases in revenue and profit in all segments during the cumulative third quarter of the consolidated fiscal year under review.」
The impact of COVID-19-related demand contraction that materialized in the previous fiscal year was mitigated as all segments recorded increases in revenue and profit. - FY2022-Q2MitigatedAnnual report
「Compared with the previous fiscal year, when revenue declined in all segments due to the impact of COVID-19, performance improved in the Japan and Asia segments, which account for the majority of consolidated net sales, and in the North America segment, where tennis equipment sales were strong, resulting in substantial increases in revenue and profit during the cumulative second quarter of the consolidated fiscal year under review.」
The impact of demand contraction caused by COVID-19 and other factors in the previous fiscal year was partly mitigated as sales recovered in Japan, Asia and North America, resulting in substantial increases in revenue and profit. - FY2022-Q1MitigatedAnnual report
「Compared with the previous fiscal year, which was heavily affected by the spread of COVID-19, sales recovered in the Japan and Asia segments, which account for the majority of consolidated net sales, resulting in a substantial increase in revenue.」
The impact of shrinking demand in key markets that materialized in the previous fiscal year was partly mitigated as sales recovered in Japan and Asia, the company states. - FY2021MaterialisedAnnual report
「Consolidated net sales were ¥51,554 million, down 16.8% from the previous fiscal year.」
The contraction in demand, including store and sports-facility closures and restrictions on the use of indoor sports facilities due to COVID-19, materialized as a 16.8% decline in full-year net sales. - FY2021-Q3MaterialisedAnnual report
「In Southeast Asia, India, the United Kingdom and other regions where the COVID-19 situation had not improved, the closure of and restrictions on the use of indoor sports facilities, particularly for badminton, affected sales. Consolidated net sales were ¥35,715 million, down 23.3% from the same quarter of the previous year.」
The risk of shrinking demand in key markets continued to materialize in the form of closures of and restrictions on the use of indoor sports facilities in Southeast Asia, India, the United Kingdom and other regions, as well as a 23.3% decline in consolidated net sales. - FY2021-Q2MaterialisedAnnual report
「Revenue declined in all segments, including the Japan and Asia segments, which account for the majority of consolidated net sales.」
The risk of shrinking demand in key markets continued to materialize in the form of lower revenue across all segments, including Japan and Asia. - FY2021-Q1MaterialisedAnnual report
「The spread of COVID-19 caused revenue declines in the Japan and Asia segments, which account for the majority of consolidated net sales.」
The risk of shrinking demand in key markets materialized as revenue declines in Japan and Asia amid the spread of COVID-19. Consolidated net sales fell 44.2% from the same quarter of the previous year. - FY2020MaterialisedAnnual report
「As a result, net sales were ¥38,119 million, down 1.6% from the previous fiscal year, and operating income was ¥448 million, down 50.9%.」
The contraction in demand in Japan caused by school closures, the suspension of extracurricular activities, event cancellations and requests to refrain from going out amid the spread of COVID-19 was reflected in a 1.6% decline in net sales and a 50.9% decline in operating income. - FY2020-Q3MitigatedAnnual report
「Regarding sales, the overall badminton-products business at the Chinese sales subsidiary, led by rackets and shoes, entered a recovery trend. Revenue increased even after factoring in the negative impact of foreign-currency translation.」
In China, badminton equipment sales began to recover as inventory adjustments progressed, further mitigating the impact of deteriorating demand and distribution conditions in key markets. - FY2020-Q2MitigatedAnnual report
「In China, sales began to recover as the impact of new products took effect and inventory adjustments progressed to some extent, resulting in consolidated net sales of ¥31,820 million, up 4.0% from the same quarter of the previous year.」
In China, sales began to recover as the impact of new products took effect and inventory adjustments progressed, partly mitigating the impact of deteriorating demand and distribution conditions in key markets. - FY2020-Q1MitigatedAnnual report
「At the Chinese sales subsidiary, sales of badminton racquets, badminton shoes and apparel increased as inventory adjustments from the previous fiscal year ran their course and we focused on sales promotions such as product demo sessions. Sales moved toward recovery in local-currency terms but declined slightly due to foreign exchange effects.」
In China, the impact of deteriorating demand and distribution conditions in key markets was partly mitigated as inventory adjustments ran their course and sales began to recover on a local-currency basis. However, sales declined slightly after translation into yen. - FY2019MaterialisedAnnual report
「The performance of the group during the consolidated fiscal year under review showed signs of recovery in sales as inventory levels in China improved to some extent from the third quarter onward, but the recovery was insufficient to offset the decline in sales through the second quarter, and cumulative sales did not increase. Overseas tennis sales grew, but domestic sales of footwear and other products declined, resulting in consolidated net sales of ¥61,097 million, down 1.8% from the previous fiscal year.」
Although inventory adjustments in China showed signs of improvement, the impact of shrinking demand materialized over the full fiscal year in the form of lower cumulative sales and declining domestic sales of footwear and other products. - FY2019-Q3MaterialisedAnnual report
「During the cumulative third quarter under review, the company’s performance was affected by lower overseas sales due partly to inventory adjustments in China, while domestic sales of footwear and other products also declined. Consolidated net sales decreased to ¥44,753 million, down 3.1% from the same quarter of the previous year.」
Continued declines in overseas sales due to inventory adjustments in China and in domestic sales of footwear and other products resulted in a 3.1% year-on-year decline in consolidated net sales. - FY2019-Q2MaterialisedAnnual report
「During the cumulative second quarter under review, the company’s performance continued to be affected by lower overseas sales due partly to inventory adjustments in China, while domestic sales of footwear and other products also declined. Consolidated net sales decreased to ¥30,584 million, down 5.1% from the same quarter of the previous year.」
In addition to lower overseas sales due to inventory adjustments in China, domestic sales of footwear and other products also declined, resulting in a 5.1% year-on-year decrease in consolidated net sales. - FY2019-Q1MaterialisedAnnual report
「In terms of sales, the company’s performance continued to be affected by lower overseas sales due partly to inventory adjustments in China, while domestic sales of tennis equipment and other products also declined. Consolidated net sales decreased to ¥14,457 million in the cumulative first quarter under review, down 9.2% from the same quarter of the previous year.」
Continued declines in overseas sales due to inventory adjustments in China, together with lower domestic sales of tennis equipment and other products, resulted in a 9.2% decline in consolidated net sales. - FY2018MaterialisedAnnual report
「At the Chinese sales subsidiary, sales of badminton equipment excluding footwear declined from the previous fiscal year because of inventory adjustments that began at the start of the current consolidated fiscal year.」
Deterioration in demand and distribution conditions in key markets also materialized over the full fiscal year as inventory adjustments in China and lower sales of badminton equipment. - FY2018-Q3WorsenedAnnual report
「At the Chinese sales subsidiary, sales of badminton equipment excluding footwear declined from the same quarter of the previous year because of the slowdown in the badminton market since the beginning of the current consolidated fiscal year and the resulting inventory adjustments.」
The impact of shrinking demand in China has become more pronounced, progressing from “slower growth” in the previous quarter to a decline in sales of badminton equipment excluding footwear. - FY2018-Q2MaterialisedAnnual report
「In China, where the company was developing a sales network through its local sales subsidiary, growth slowed because of the slowdown in the badminton market and related inventory adjustments.」
The previously identified risk of shrinking demand in key markets has materialized as a slowdown in China’s badminton market, an increase in distribution inventories and slower sales growth. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter under review, economic recovery continued in the United States, Europe and other developed economies, supported by resilient employment and personal consumption. In China, private investment and exports showed signs of recovery, but concerns remained about an economic slowdown, including in personal consumption.」
The company continues to cite a recovery trend in the United States and Europe, along with concerns about an economic slowdown in China. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter under review, the global economy remained firm in the United States and Europe, but uncertainty about the outlook increased amid weak economic conditions in emerging and resource-exporting economies, a prolonged decline in resource prices, volatility in international financial markets, the United Kingdom’s withdrawal from the EU and the outcome of the U.S. presidential election.」
The company continues to cite uncertainty stemming from weakness in emerging and resource-exporting economies, declining resource prices, volatility in international financial markets, the United Kingdom’s withdrawal from the EU and the U.S. presidential election. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, the global economy continued to recover moderately in developed economies. In emerging markets, however, the slowdown in China’s economic growth spread to other economies, and economic activity remained sluggish amid a prolonged decline in resource prices, intensifying the overall sense of economic slowdown.」
The company continues to cite an economic slowdown centered on emerging markets, against a backdrop of slower growth in China and a prolonged decline in resource prices. - FY2017-Q1WorsenedAnnual report
「Economic stagnation persisted in emerging markets, and the substantial decline in resource prices further intensified the overall sense of economic slowdown.」
The company states that the prolonged economic stagnation in emerging markets and the decline in resource prices intensified the slowdown in the economic environment, including in key markets. - FY2016First statedAnnual report
「If demand contracts as a result of an economic downturn in key markets, this could adversely affect business performance and financial condition.」
The company identifies demand for badminton, tennis and golf equipment as being exposed to the economic conditions of the countries and regions where the products are sold.