Deterioration in Singapore’s Economic and Retail Environment and Cooling Consumer Sentiment
First written in FY2017-Q2. 10 of 25 entries say "Worsened", first in FY2018-Q1. Latest entry: FY2027-H1.
Takashimaya moved to the "Worse" side of this theme in 2021, 2 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 15 of 33 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2027-H1Lower revenue and profit on a local-currency basis alongside higher revenue and profit on a yen basisAnnual report
「At Singapore Takashimaya, revenue and profit declined on a local-currency basis, but revenue and profit increased on a yen basis due to the weaker yen.」
While Singapore's local retail environment resulted in lower revenue and profit, the translation impact of the weaker yen led to higher revenue and profit on a yen basis. - FY2026WorsenedAnnual report
「Singapore Takashimaya reported a slight decline in revenue and profit due to stagnant consumption amid prolonged inflation and the impact of higher costs.」
In Singapore, stagnant consumption caused by inflation and rising costs resulted in lower full-year revenue and profit. - 2026-04-17MitigatedEarnings presentation
「In Singapore, we plan revenue and profit growth by strengthening product appeal and the customer base, with a recovery in domestic customer and tourist demand expected.」
For the Singapore retail environment, the company plans a recovery in demand and revenue and profit growth through stronger product appeal and a stronger customer base. - FY2026-H1WorsenedAnnual report
「Singapore Takashimaya reported lower revenue and profit due to stagnant consumption and rising costs amid prolonged inflation, as well as foreign exchange effects caused by the yen's appreciation. The company will seek to increase sales to domestic customers and tourists by rebuilding its merchandise offering, including fashion-related products and food, and advancing initiatives to strengthen its customer base.」
Singapore reported lower revenue and profit as stagnant consumption caused by inflation, higher costs and the impact of the yen's appreciation coincided. - FY2025-H1WorsenedAnnual report
「Singapore Takashimaya reported higher revenue and profit due to foreign exchange effects, but the outlook remains uncertain for domestic customers, as prolonged inflation has heightened cost-consciousness and the stronger Singapore dollar has diverted spending overseas. Among tourists, sales to customers from China remain slow to recover and have still not returned to pre-pandemic levels.」
The company stated that inflation, spending outflows caused by the strong Singapore dollar, and the delayed recovery in sales to Chinese tourists continued in Singapore, leaving the outlook uncertain. - FY2025-Q1MitigatedAnnual report
「At Singapore Takashimaya, although renovation work on key brands aimed at future growth had an impact, sales and operating profit both increased, supported by steady domestic customer spending, the recovery in tourist traffic and foreign exchange effects, driving overall performance.」
The company stated that sales and operating profit in Singapore increased, supported by steady domestic customer spending and the recovery in tourist traffic. - FY2024-Q1MitigatedAnnual report
「Singapore Takashimaya S.C., operated by Tohshin Development Singapore PTE. LTD., reported higher revenue and profit as customer traffic increased following the rebound from the impact of COVID-19 and the government's declaration in February that the pandemic had ended.」
In the Singapore commercial development business, customer traffic increased following the rebound from the impact of COVID-19 and the government's declaration that the pandemic had ended, resulting in higher revenue and profit. - FY2023-Q2MitigatedAnnual report
「Singapore Takashimaya S.C., operated by Tohshin Development Singapore PTE. LTD., reported higher revenue and profit, driven by the rebound in consumption, particularly of high-priced goods, and the yen's depreciation.」
The Singapore retail and commercial development businesses reported higher revenue and profit against a backdrop of a consumption rebound, particularly for high-priced goods, and the yen's depreciation. - FY2022WorsenedAnnual report
「Overseas, Tohshin Development Singapore PTE. LTD., which operates and manages Singapore Takashimaya S.C., provided rent reductions for tenants and experienced tenant departures due to the impact of COVID-19, but revenue and profit increased as a result of the rebound from the previous fiscal year's closure.」
The company disclosed that rent reductions for tenants and tenant departures occurred in its Singapore commercial development business. - FY2022-Q3WorsenedAnnual report
「In the overseas business from January to September 2021, the impact of COVID-19 intensified again in the ASEAN region from April, putting all companies except Shanghai Takashimaya under severe operating conditions. Singapore Takashimaya continued operating restrictions, including limits on customer entry, throughout the period, while Siam Takashimaya reduced its hours from mid-April. Despite these effects from COVID-19, both stores posted higher sales because of the year-on-year rebound from store closures. Ho Chi Minh Takashimaya operated only its food section from the end of May, but closed the entire store in July, resulting in lower sales.」
Operating restrictions continued as the impact of infections intensified again in the ASEAN region. In Ho Chi Minh, the store shifted from food sales to a full-store closure in July, resulting in lower revenue. - FY2022-Q2WorsenedAnnual report
「Singapore Takashimaya continued operating restrictions, including limits on the number of customers permitted to enter, throughout the period. Ho Chi Minh Takashimaya closed throughout the store except for food sales from 31 May, while Siam Takashimaya reduced its operating hours from 15 April.」
The renewed spread of infections in the ASEAN region led to limits on customer entry in Singapore, a full-store closure in Ho Chi Minh, and reduced hours in Siam, highlighting the challenging overseas retail environment. - FY2022-Q1WorsenedAnnual report
「In the ASEAN region, the impact of COVID-19 began to intensify again from April. Ho Chi Minh Takashimaya closed throughout the store except for food sales, while Siam Takashimaya reduced its operating hours, resulting in continued challenging operating conditions.」
The impact of the infection intensified again in the ASEAN region, resulting in the full closure of Ho Chi Minh Takashimaya and reduced hours at Siam Takashimaya. - FY2021WorsenedAnnual report
「Overseas, the ASEAN countries and China where the company operates were also significantly affected by COVID-19. Shanghai Takashimaya shortened its operating hours from January to March of the previous year. Ho Chi Minh Takashimaya was temporarily closed from March to April of the same year, Siam Takashimaya from March to May, and Takashimaya Singapore from April to June, except for certain food sections.」
At multiple overseas stores, reduced hours and temporary closures occurred, with the affected stores and periods now specified. - FY2021-Q2WorsenedAnnual report
「Overseas, during January-June 2020, the ASEAN countries and China where the company operates were also significantly affected by COVID-19. Shanghai Takashimaya shortened its operating hours from January to March. Ho Chi Minh Takashimaya was temporarily closed from March to April, Siam Takashimaya from March to May, and Takashimaya Singapore from April to June, except for certain food sections.」
Several overseas stores shortened their operating hours or temporarily closed, with the affected periods and stores specified. - FY2021-Q1MaterialisedAnnual report
「At overseas commercial facilities, entire-site closures, partial temporary closures and shortened operating hours occurred, while sales to tourists declined due to entry restrictions.」
In overseas retail markets, including Singapore, entire-site closures, temporary closures, shortened operating hours and lower tourist sales due to entry restrictions occurred. - FY2020-Q3MitigatedAnnual report
「Overseas, Takashimaya Singapore increased sales due to the effects of renovations and other factors, but reported lower revenue and higher profit because rental income declined following a change in accounting policy resulting from the application of IFRS 16.」
Takashimaya Singapore increased sales due to the effects of renovations and other factors, indicating an operational improvement from the previously deteriorating retail environment. However, revenue declined for accounting purposes following the application of IFRS 16. - FY2019-Q2RestatedAnnual report
「Takashimaya Singapore reported higher revenue due to sales initiatives commemorating its 25th anniversary and the recovery of the local economy that had continued since the second half of the previous year.」
The disclosure continued to describe Takashimaya Singapore's higher revenue resulting from the recovery in the local economy and anniversary-related initiatives. - FY2018MitigatedAnnual report
「Takashimaya Singapore strengthened initiatives targeting proprietary-card members and overseas tourists, pursued an advertising strategy centered on digital media, and worked to reduce selling, general and administrative expenses, resulting in increases in both revenue and profit.」
Measures targeting the company's card members and tourists, advertising strategies and reductions in selling, general and administrative expenses changed the Singapore business from its previous revenue and profit declines to revenue and profit growth. - FY2018-Q3MitigatedAnnual report
「Overseas, Takashimaya Singapore increased revenue as it strengthened promotional initiatives for proprietary-card customers from August onward, amid signs of an improving domestic business climate, while tourist sales also remained strong.」
The disclosure stated that signs of an upturn appeared in Singapore's domestic economic sentiment and that, supported by promotions for the company's card customers and steady tourist sales, the business changed from its previous revenue decline to revenue growth. - FY2018-Q2RestatedAnnual report
「Overseas, Takashimaya Singapore reported lower revenue as Singapore's retail environment remained difficult due to the economic slowdown and a decline in foreign visitors.」
The disclosure continued to describe the difficult retail environment and lower revenue resulting from Singapore's economic slowdown and the decline in foreign visitors. - FY2018-Q1WorsenedAnnual report
「Overseas, Takashimaya Singapore reported lower revenue as retail conditions in Singapore remained sluggish due to a decline in foreign visitors, while competition from nearby rival stores also intensified.」
The disclosure explicitly cited a decline in foreign visitors and intensifying competition from nearby rival stores in Singapore, and stated that the resulting revenue decline actually occurred. - FY2017-Q3MaterialisedAnnual report
「Takashimaya Singapore Ltd. reported lower revenue and profit due to the slowdown in the local economy and exchange-rate effects resulting from a stronger yen.」
The slowdown in Singapore's local economy and exchange-rate effects from a stronger yen continued to contribute to lower revenue and profit during the period. - FY2017-Q2First statedAnnual report
「Revenue and profit declined due to the deterioration in Singapore's economy and retail environment, a temporary weakening in consumer sentiment resulting from the UK's decision to leave the EU, and the impact of exchange-rate movements accompanying the yen's appreciation.」
In Singapore, deterioration in the economic and retail environment, weaker consumer sentiment and the impact of a stronger yen actually contributed to lower revenue and profit.