Decline in Foodservice Demand and Abrupt Changes in the Meat Procurement and Sales Environment Due to COVID-19
First written in FY2021-Q1. 4 of 15 entries say "Worsened", first in FY2021-Q3. Latest entry: FY2025.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2025ReframedAnnual report
「If infectious diseases or other infections occur and their spread becomes prolonged, risks are expected to include a stronger consumer preference for lower-priced products due to an economic slowdown, weak demand for eating out, substantial price fluctuations in imported products due to changes in overseas supply and demand, and heightened concerns about the creditworthiness of business partners.」
The risk disclosure was reorganized from its previous focus on COVID-19 to the broader risk of outbreaks and spread of infectious diseases, covering the effects on consumer preference for lower-priced products, demand for eating out, import prices, the creditworthiness of business partners, and operating stoppages. - FY2024MitigatedAnnual report
「During the consolidated fiscal year under review, Japan’s economy showed signs of a gradual recovery in economic activity as the transition of COVID-19 to Category 5 led to further progress toward normalization of social and economic activity.」
The transition of COVID-19 to Category 5 was accompanied by progress toward normalization of social and economic activity, indicating that the previous restrictions on economic activity imposed by the pandemic were easing. - FY2024-Q1MitigatedAnnual report
「During the cumulative consolidated first quarter under review, Japan’s economy showed signs of a gradual recovery in economic activity as the transition of COVID-19 to Category 5 led to further progress toward normalization of social and economic activity.」
The transition of COVID-19 to Category 5 was accompanied by normalization of social and economic activity and a gradual recovery in economic activity, indicating that the previous restrictions imposed by the pandemic were easing. - FY2023The easing of the pandemic’s impact coexisting with a recovery in demand for eating outAnnual report
「With the downgrading of COVID-19’s classification under the Infectious Diseases Control Law in May, normalization of social and economic activity is expected. However, concerns remain that rising prices and increased consumer thrift could slow the recovery in personal consumption, and economic conditions are expected to remain uncertain.」
While the downgrading of the disease classification under the Infectious Diseases Control Law indicated a transition toward normalization of economic activity, concerns remain that higher prices and increased consumer thrift could slow the recovery in personal consumption. - FY2023-Q3Additional uncertainty factors, including infection trends in ChinaAnnual report
「However, the possibility that a downturn in overseas economies due to global monetary tightening and other factors could weigh on Japan’s economy, as well as the effects of inflation, supply-side constraints, volatility in financial and capital markets, and infection trends in China, are expected to persist, leaving the outlook uncertain.」
While the economy recovered under the conditions of living with COVID-19, the effects of infection trends in China were explicitly added to the existing uncertainty regarding overseas economies, prices, supply constraints, and financial markets. - FY2023-Q2The transition to living with COVID-19 coexisting with macroeconomic uncertaintyAnnual report
「During the cumulative consolidated second quarter under review, Japan’s economy showed a gradual recovery as the transition to a new stage of living with COVID-19 progressed. However, the possibility that a downturn in overseas economies due to global monetary tightening and other factors could weigh on Japan’s economy, as well as the effects of inflation, supply-side constraints, and volatility in financial and capital markets, are expected to persist, leaving the outlook uncertain.」
While the impact of the pandemic on economic activity eased and the economy moved into the stage of living with COVID-19, uncertainty from weaker overseas economies, inflation, supply constraints, and financial market volatility continued. - FY2023-Q1The easing of the pandemic’s impact coexisting with concerns about renewed spreadAnnual report
「During the cumulative consolidated first quarter under review, Japan’s economy showed signs of recovery as the severe conditions caused by COVID-19 eased and economic activity moved toward normalization. However, in addition to concerns that the situation in Ukraine could become protracted, COVID-19 infections began to spread again from July, and the outlook is expected to remain uncertain.」
While the impact of the pandemic on economic activity eased in part and normalization progressed, renewed spread of infections from July and the protracted situation in Ukraine were cited together as new sources of uncertainty. - FY2022WorsenedAnnual report
「As there is no clear prospect of COVID-19 coming under control and concerns have emerged about an economic downturn due to the situation in Ukraine and other factors, economic conditions are expected to remain uncertain going forward.」
In addition to the lack of a clear prospect of the pandemic coming under control, concerns about an economic downturn due to the situation in Ukraine were indicated, while uncertainty regarding demand for eating out, procurement prices, credit, and operations continued. - FY2022-Q3WorsenedAnnual report
「During the cumulative consolidated third quarter under review, Japan’s economy remained challenging, as repeated states of emergency were declared due to the spread of COVID-19, restricting economic activity. Although the number of new infections declined temporarily, the outlook remained uncertain as infections began to spread again from January onward.」
It was stated that infections spread again after a temporary decline in new infections, while restrictions on economic activity and uncertainty about the outlook continued. - FY2022-Q2RestatedAnnual report
「During the cumulative consolidated second quarter under review, Japan’s economy remained challenging, as repeated states of emergency were declared due to the spread of COVID-19, restricting economic activity. Although the number of new infections declined from September onward, the outlook remained uncertain.」
While restrictions on economic activity and uncertainty about the outlook continued due to repeated states of emergency, a decline in new infections from September onward was also noted. It was stated that there had been no material change in the COVID-19 risk itself. - FY2022-Q1WorsenedAnnual report
「During the cumulative consolidated first quarter under review, Japan’s economy remained challenging, as the spread of COVID-19 led to the issuance of the third state of emergency and restrictions on economic activity. Although measures to prevent the spread of infections and the promotion of vaccination were expected to support a recovery, the outlook remained uncertain, with another state of emergency issued in July.」
In addition to the third state of emergency, the issuance of another declaration in July was noted, and restrictions on economic activity and uncertainty about the outlook have continued. - FY2021RestatedAnnual report
「There is still no prospect of COVID-19 coming under control, and economic conditions are expected to remain uncertain going forward.」
With no prospect of the pandemic coming under control, risks including weak demand for eating out, price fluctuations for imported products, concerns about the creditworthiness of business partners, and operating stoppages have continued. - FY2021-Q3WorsenedAnnual report
「During the cumulative consolidated third quarter under review, Japan’s economy showed signs of recovery after the state of emergency was lifted in May, but conditions remained challenging and uncertain as COVID-19 infections began to spread again.」
The renewed spread of COVID-19 was explicitly noted, and a challenging business environment with an uncertain outlook has continued. - FY2021-Q2RestatedAnnual report
「In the food industry, consumption patterns have changed rapidly as people adopt new lifestyles, with demand for eating at home expanding while demand for eating out contracts, requiring companies to respond to the new business environment. The meat industry also continued to face a highly uncertain business environment, including dramatic changes in the procurement and sales conditions for individual products.」
The contraction in demand for eating out, expansion in household consumption, and sharp changes in the procurement and sales environment for meat associated with COVID-19 have continued. - FY2021-Q1First statedAnnual report
「Japan’s economy experienced an unprecedentedly rapid deterioration in economic conditions in recent years due to the impact of COVID-19, creating an extremely challenging and uncertain outlook. In the food industry, demand for eating out contracted while demand for eating at home expanded as people refrained from going out, creating a business environment that required companies to respond to an unprecedentedly rapid shift in consumer behavior. The meat industry likewise continues to face a highly uncertain business environment, including dramatic changes in the procurement and sales conditions for individual products.」
COVID-19 was disclosed independently for the first time as a new risk directly affecting the economy, demand for eating out, demand for eating at home, and the procurement and sales environment for meat.