Dampening of personal consumption due to the increase in the consumption tax rate
First written in FY2017. 1 of 3 entries say "Materialised", first in FY2020-Q3. Latest entry: 2026-08-04.
H2o Retailing moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2026: 4 of 7 companies on the "Worse" side.
5 other companies' latest entry also says "Reframed".
- 2026-08-04ReframedFinancial results presentation
「Consumers holding back on purchases ahead of a consumption-tax cut」
The description of consumption-related effects from tax changes shifted from the previously used expression of a decline following a consumption-tax increase to consumers holding back on purchases in anticipation of a tax cut. - FY2020-Q3MaterialisedAnnual report
「However, after the tax increase, revenue in the department-store and food businesses declined due to a pullback following the rush in demand before the increase, consumer reluctance to purchase as sentiment weakened, and the impact of an unusually warm winter.」
Following the consumption tax rate increase, a pullback from pre-increase demand and consumer reluctance to purchase occurred, resulting in an actual decline in revenue in the department-store and food businesses. - FY2017First statedAnnual report
「The consumption tax rate is expected to be raised in stages. This could dampen personal consumption and negatively affect the Group's revenue.」
The impact of future consumption tax rate increases on personal consumption and revenue is identified as a risk.