Decline in duty-free sales due to lower average spending by inbound visitors
First written in FY2017-Q2. 16 of 29 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-10-01.
The whole theme swung hardest in 2019: 8 of 19 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Inbound sales were 80.1% of the previous fiscal year, due to the reaction to the sharp increase in inbound demand in the previous fiscal year and a decline in visitors to Japan from China.」
Inbound sales fell to 80.1% of the previous fiscal year due to the reaction to the sharp increase in the previous fiscal year and a decline in visitors to Japan from China. - FY2026-H1WorsenedAnnual report
「Domestic sales remained firm and exceeded the year-earlier period, while inbound sales declined, partly reflecting the sharp increase in the previous year.」
Although domestic sales exceeded the year-earlier period, inbound sales declined partly due to the reaction to the sharp increase in the previous year, bringing the previously identified risks relating to duty-free and visitor-to-Japan demand back into the results. - FY2025-H1MitigatedAnnual report
「The department store business, where inbound sales were strong, drove a substantial increase in both revenue and profit, in addition to firm domestic sales.」
In contrast to the risk of lower inbound sales, the disclosure states that inbound sales were strong during the interim consolidated accounting period. - FY2024-Q3MitigatedAnnual report
「Inbound sales reached a record high, partly due to the weaker yen.」
In contrast to the risks of lower inbound spending per customer and lower duty-free sales, inbound sales reached a record high, partly due to the weaker yen. - FY2024-Q1MitigatedAnnual report
「In addition, duty-free sales continued to recover, led by high-value products, and exceeded fiscal 2018 results, before the pandemic.」
It states that duty-free sales recovered, led by high-value products, and exceeded fiscal 2018 results, before the pandemic. - FY2023MitigatedAnnual report
「In addition, duty-free sales recovered to more than 80% of pre-pandemic levels in the second half, while total sales also exceeded fiscal 2018 results.」
Duty-free sales recovered to more than 80% of pre-pandemic levels in the second half, easing the impact of weak inbound demand. - FY2023-Q3MitigatedAnnual report
「As the impact of COVID-19 subsided and social life began returning to pre-pandemic conditions, domestic consumption remained strong throughout the period. In addition, the recovery in duty-free sales lifted same-store sales for October to December, the third-quarter consolidated accounting period, above pre-pandemic levels.」
In contrast to the previously identified risks of lower inbound spending per customer and lower duty-free sales, the disclosure noted a recovery in duty-free sales and same-store sales exceeding pre-pandemic levels. - FY2020-Q1RestatedAnnual report
「Hankyu flagship store, where both domestic and inbound demand remained firm」
In contrast to the previously reported declines in spending per customer and duty-free sales, it states that both domestic and inbound demand remained firm. - FY2019-Q3MitigatedAnnual report
「Although inbound demand temporarily declined due to the impact of natural disasters, active demand for high-value products such as watches and jewelry led to a recovery trend relatively early.」
Although inbound demand temporarily declined due to natural disasters, it entered a recovery trend relatively early, driven by active demand for high-value products. - FY2019-Q2RestatedAnnual report
「Inbound sales temporarily declined as the number of visitors to Japan fell due to earthquakes and typhoons, but overall demand remained strong, with active demand for high-value products such as watches and luxury goods. Sales at the Hankyu flagship store, including Hankyu Men's Osaka, were 105.1% of the year-earlier period.」
It states that visitors to Japan and inbound sales temporarily declined due to natural disasters, while demand for high-value products was active and inbound demand remained strong overall. - FY2019-Q1RestatedAnnual report
「Inbound demand was also active for high-value products such as watches and luxury goods, resulting in sales of ¥107.7% of the year-earlier period at the Hankyu flagship store, including Hankyu Men's Osaka.」
It continues to state that inbound demand for high-value products such as watches and luxury goods was active, in addition to the previously strong performance of cosmetics and other products. - FY2018-Q3MitigatedAnnual report
「Inbound demand received a substantial boost as sales of high-value products such as jewelry and watches recovered, in addition to the continued strength of consumables such as cosmetics.」
It states that sales of high-value products such as jewelry and watches recovered in addition to cosmetics and other products, broadening the recovery in inbound demand. - FY2018-Q2MitigatedAnnual report
「Inbound demand grew substantially, as demand remained strong for consumables such as cosmetics and also improved for high-value products such as jewelry and watches.」
In contrast to the previously reported declines in spending per customer and duty-free sales, the disclosure notes that high-value products, in addition to cosmetics, performed well and that inbound demand grew. - FY2018-Q1MitigatedAnnual report
「In addition to strengthening the ability to attract customers from a wider area through enhanced and ongoing communications, inbound demand also grew substantially, led by cosmetics.」
In contrast to the previously reported declines in spending per customer and duty-free sales, this quarter's disclosure noted growth in inbound demand, led by cosmetics. No direct figures for spending per customer or duty-free sales were provided. - FY2017WorsenedAnnual report
「The yen strengthened from the beginning of last year, and during the first half, personal consumption declined as corporate performance deteriorated and inbound demand fell.」
In addition to the previously noted decline in duty-free sales due to lower spending per customer, the full-year results discussion explicitly cited yen appreciation and a downturn in inbound demand. - FY2017-Q3RestatedAnnual report
「However, duty-free sales across all stores fell below the previous year's results as spending per customer declined, resulting in sales of ¥163,298 million at the Hankyu flagship store, including Hankyu Men's Osaka, or 99.8% of the year-earlier period.」
It continues to state that, despite an increase in visitors to Japan, duty-free sales were below the previous year's results due to lower spending per customer. - FY2017-Q2First statedAnnual report
「Although the number of inbound visitors increased, duty-free sales fell below the previous year's results due to lower spending per customer.」
It states that, although the number of visitors to Japan increased, duty-free sales fell below the previous year's results due to lower spending per customer.