Contraction of the Suit Market Due to the Declining Birthrate and Aging Population
First written in FY2016. 13 of 20 entries say "Restated". Latest entry: 2026-05-12.
Aoyama Trading moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
The whole theme swung hardest in 2025: 1 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- 2026-05-12WorsenedRevision of earnings forecasts
「Against the backdrop of the shift toward casual officewear progressing faster than expected, unit sales of key items such as suits and formalwear declined.」
The company provides specific evidence linking the previously identified shift toward casual officewear, a factor behind the contraction of the suit market, to a faster-than-expected decline in unit sales. - FY2025RestatedAnnual report
「In Japan, the declining birthrate and aging population are progressing, and the proportion of people who wear suits is declining within the population. Changes in consumer behaviour, including the increasing casualization of officewear, may cause the number of suits sold in the businesswear business, the Group's core business, to decline, and these factors may affect the Group's operating results.」
The company continues to identify the risk of market contraction due to the declining birthrate and aging population, the declining proportion of suit wearers and the increasing casualization of officewear. - FY2024RestatedAnnual report
「In Japan, the declining birthrate and aging population are progressing, and the proportion of people who wear suits is declining within the population. Changes in consumer behaviour, including the increasing casualization of officewear, may cause the number of suits sold in the businesswear business, the Group's core business, to decline, and these factors may affect the Group's operating results.」
In addition to the declining birthrate and aging population, the company continues to identify the declining proportion of suit wearers, the increasing casualization of officewear and changes in consumer behaviour as factors contributing to market contraction. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to the risk of a contracting suit market due to the declining birthrate and aging population, among other factors. - FY2023RestatedAnnual report
「In Japan, the declining birthrate and aging population are expected to reduce the proportion of people who wear suits within the population. Accordingly, the number of suits sold in the businesswear business, the Group's core business, may decline, and these factors may affect the Group's operating results.」
The company continues to disclose the risk of market contraction due to the declining birthrate and aging population and the declining proportion of suit wearers. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to the risk of a contracting suit market due to the declining birthrate and aging population, among other factors. - FY2023-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to the previously disclosed risk of a contracting suit market due to the declining birthrate and aging population, among other factors. - FY2021WorsenedAnnual report
「The suit and formalwear market, the main product market of the businesswear business, continued to contract due to the spread of teleworking and the simplification of ceremonies and other social events. Sales also declined because the businesswear and comprehensive repair services businesses temporarily closed stores and reduced operating hours.」
In addition to the declining birthrate and aging population and the shift toward casualwear, teleworking and the simplification of ceremonies and other social events were added as factors contributing to market contraction. Full-year same-store sales were 73.8% of the previous fiscal year's level, and men's suit unit sales were 73.9%. - FY2020-Q3WorsenedAnnual report
「Customer traffic continued to decline amid changes in the market environment, including the further casualization of officewear, and same-store sales in the businesswear business were 88.8% of the level in the same period of the previous year.」
The impact of market contraction from the casualization of officewear and declining customer traffic continued, with businesswear same-store sales at 88.8% of the level in the same period of the previous year. Cumulative same-store sales had fallen further from 94.7% in the previous quarter. - FY2020-Q2MaterialisedAnnual report
「At AOYAMA TRADING Co.,Ltd., the core businesswear division of this business, customer traffic continued to decline amid changes in the market environment, including the further casualization of officewear, and same-store sales in the businesswear business were 94.7% of the level in the same period of the previous year.」
The casualization of officewear and declining customer traffic were reflected in cumulative second-quarter results, with businesswear same-store sales at 94.7% of the level in the same period of the previous year. - FY2020-Q1MaterialisedAnnual report
「Customer traffic continued to decline amid changes in the market environment, including the further casualization of officewear, and same-store sales in the businesswear business were 93.5% of the level in the same period of the previous year.」
Changes in the market environment, including the casualization of officewear, and declining customer traffic were reflected in first-quarter results, with businesswear same-store sales at 93.5% of the level in the same period of the previous year. - FY2019WorsenedAnnual report
「Structural changes that could have a significant impact on our core businesswear business have been progressing as a result of the contraction of the suit market due to the decline in the working-age population and the increasing casualization of officewear, as well as changes in consumer behaviour described as customization, showrooming and sharing.」
In addition to the previously identified market contraction due to the declining birthrate and aging population, the company explicitly identified the decline in the working-age population, the increasing casualization of officewear and changes in consumer behaviour as structural business environment risks. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company explicitly states that there have been no material changes to the previously disclosed business and other risks, including the risk of a contracting suit market due to the declining birthrate and aging population. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company explicitly states that there have been no material changes to the previously disclosed business and other risks, including the risk of a contracting suit market due to the declining birthrate and aging population. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company explicitly states that there have been no material changes to the previously disclosed business and other risks, including the risk of a contracting suit market due to the declining birthrate and aging population. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company explicitly states that there have been no material changes to the previously disclosed business and other risks, including the risk of a contracting suit market due to the declining birthrate and aging population. - FY2017RestatedAnnual report
「In Japan, the declining birthrate and aging population are expected to reduce the proportion of people who wear suits within the population. Accordingly, the number of suits sold in the businesswear business, the Group's core business, may decline, and these factors may affect the Group's operating results.」
The company continues to identify as a medium- to long-term risk the potential decline in the proportion of suit wearers and in the number of suits sold due to the declining birthrate and aging population. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company explicitly states that there have been no material changes to the previously disclosed business and other risks, including the risk of a contracting suit market due to the declining birthrate and aging population. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company explicitly states that there have been no material changes to the business and other risks described in the previous fiscal year, including the risk of a contracting suit market due to the declining birthrate and aging population. - FY2016First statedAnnual report
「The business environment surrounding the Group is expected to remain challenging, with the suit market likely to contract over the medium to long term as a result of the declining birthrate and aging population, alongside rising production costs and other factors.」
The company identifies medium- to long-term market contraction and rising production costs as external environmental risks to sustainable growth.