Growth Constraints from Domestic Market Contraction and Consumption Tax Increases
First written in FY2018. 2 of 3 entries say "Worsened", first in FY2019-Q3. Latest entry: FY2020-Q2.
Takashimaya moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 10 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2020-Q2WorsenedAnnual report
「However, consumer sentiment has deteriorated amid the frequent occurrence of natural disasters in various regions and increasing uncertainty over the outlook for the global economy due to intensifying US-China trade friction. In addition, with the risk of a decline in consumption following the October consumption tax rate increase, the domestic economy is increasingly likely to enter a recessionary phase.」
Regarding an increase in the consumption tax rate, in addition to incorporating its effects into the plan, explicitly noted the risk of weaker consumption after the increase and the possibility of a domestic economic recession. - FY2019-Q3WorsenedAnnual report
「Although a gradual economic recovery is expected to continue, the outlook cannot be viewed optimistically amid intensifying global trade friction, turmoil in the stock market, and psychological factors related to the consumption tax rate increase.」
Regarding an increase in the consumption tax rate, in addition to the previous assumption that its effects would be incorporated into the plan, explicitly noted concerns that psychological factors could affect the outlook for the economy. - FY2018First statedAnnual report
「We will grow operating revenue primarily through domestic real estate and financial businesses and overseas operations, while factoring in the effects of domestic market contraction and a consumption tax increase.」
Explicitly identified domestic market contraction and the effects of a consumption tax increase as external factors to be incorporated into the revenue plan.