Increasingly Cautious Personal Consumption and Uncertainty over Future Food Demand Due to the Consumption Tax Increase
First written in FY2020-Q1. 7 of 11 entries say "Worsened", first in FY2024-Q1. Latest entry: FY2026.
Starzen moved to the "Worse" side of this theme in 2023, 1 year after the typical company in this theme (2022).
The whole theme swung hardest in 2022: 9 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In the sales environment, inbound tourism supported demand, but consumers continued to take a cautious approach to purchasing as they became more focused on saving. As a result, the overall meat market lacked strength.」
Weak personal consumption materialized as continued consumer caution and a preference for saving, even amid the demand boost from visitors to Japan. - 2026-05-14WorsenedEarnings
「In the sales environment, inbound tourism supported demand, but consumers continued to take a cautious approach to purchasing as they became more focused on saving. As a result, the overall meat market lacked strength.」
Although inbound tourists boosted demand, consumers’ focus on saving and cautious purchasing behavior continued. - FY2026-H1WorsenedAnnual report
「Although inbound tourism and demand for dining out, including demand from people returning to their hometowns during the Bon holidays, had a positive impact on the food-service industry, consumers continued to shift their spending toward relatively inexpensive meat because of their preference for saving, and the overall meat market remained weak.」
Weak personal consumption due to consumers’ preference for saving has continued to emerge as a shift in demand toward relatively inexpensive meat. The company stated that, despite the positive impact on demand for dining out, the overall meat market remained weak. - FY2025-H1WorsenedAnnual report
「In the domestic business, consumer sentiment declined as rising prices reduced real disposable income, and there were signs of a shift in demand toward relatively inexpensive meat, such as domestically produced chicken.」
The existing concerns over consumers’ preference for saving and weakening personal consumption have materialized as lower real disposable income and weaker consumer sentiment due to rising prices, together with a shift in demand toward inexpensive meat. - FY2024WorsenedAnnual report
「Although employment and income conditions continue to improve, there are concerns that personal consumption may weaken as rapidly rising prices intensify consumers’ preference for saving.」
In addition to the existing preference for saving and uncertainty over personal consumption, concerns over weakening consumption against a backdrop of rapidly rising prices have been identified as part of the operating environment for the full fiscal year. - FY2024-Q2WorsenedAnnual report
「Although employment and income conditions continue to improve, there are concerns that personal consumption may weaken as rapidly rising prices intensify consumers’ preference for saving.」
In addition to the existing preference for saving and uncertainty over personal consumption, the company has explicitly identified the intensifying preference for saving due to rapidly rising prices and concerns over weakening personal consumption. - FY2024-Q1WorsenedAnnual report
「Although employment and income conditions are expected to continue improving, there are concerns that personal consumption may weaken as a result of an economic slowdown overseas and a growing preference for saving.」
In addition to the existing preference for saving and uncertainty over personal consumption, the company has explicitly identified concerns that personal consumption may weaken as the preference for saving intensifies. - FY2021RestatedAnnual report
「In the meat industry as well, consumers’ new lifestyles are expected to become more established amid the COVID-19 pandemic, while their preference for saving is expected to intensify further, requiring companies to respond to changing consumer needs.」
The company continues to indicate uncertainty over food demand resulting from consumers’ preference for saving and changes in lifestyles. - FY2020-Q3RestatedAnnual report
「During the first 3 quarters of the current fiscal year, the environment surrounding the food industry was characterized by continued improvement in the income environment and a gradual economic recovery, while consumers appeared to favor lower-priced food. The trend in food purchases following the consumption tax rate increase also requires continued monitoring.」
The company continues to present consumers’ preference for lower prices and the need to monitor food purchasing trends following the consumption tax rate increase as factors affecting the outlook for food demand. - FY2020-Q2ReframedAnnual report
「During the cumulative period of the second quarter, the environment surrounding the food industry saw continued improvement in income conditions and a gradual economic recovery, while consumers continued to favor low food prices. The outlook for food consumption after the consumption tax rate increase also required close monitoring.」
The description of risks has shifted from the previous quarter’s “cautious personal consumption” and “planned consumption tax increase” to consumers’ preference for lower prices and the outlook for food consumption after the consumption tax rate increase. - FY2020-Q1First statedAnnual report
「The operating environment surrounding the food industry during the current first quarter was characterized by continued improvement in the income environment and a gradual economic recovery, while consumers appeared cautious about spending on food. In addition, a consumption tax increase is scheduled for October this year, and the outlook for food consumption requires close monitoring.」
The company identified cautious personal consumption of food and the outlook for food consumption following the consumption tax increase scheduled for October as new business-environment risks.