Decline in apparel demand due to the consumption tax hike and natural disasters
First written in FY2020-Q3. 1 of 2 entries say "Restated". Latest entry: FY2020.
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- FY2020RestatedAnnual report
「In the men's division of the apparel business, order value was broadly in line with the previous year. In the women's and OEM divisions, however, order value declined because, in addition to reviewing orders for low-margin projects, apparel demand fell due to natural disasters such as torrential rains and typhoons and the spread of COVID-19. As a result, both revenue and profit declined.」
The company reconfirmed that, in addition to the reaction to the consumption tax increase and natural disasters, the decline in apparel demand caused by the spread of COVID-19 was a factor in the decline in orders in the women's and OEM divisions. - FY2020-Q3First statedAnnual report
「In the women's and OEM divisions, order value declined due to a review of orders for low-margin projects, as well as the reaction to the consumption tax increase and a decline in apparel demand caused by natural disasters such as torrential rains and typhoons.」
The company reconfirmed that the reaction to the consumption tax increase and a decline in apparel demand caused by natural disasters were factors in the decline in order value in the women's and OEM divisions.