Dampening of personal consumption due to the increase in the consumption tax rate
First written in FY2018. 2 of 5 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2020: 5 of 11 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「If tax reform raises the consumption tax rate, dampening private consumption, and causes consumer sentiment to weaken in the short term, the Group's business performance may be affected.」
The company describes the increase in the consumption tax rate as an already implemented tax reform and continues to indicate the possibility of a short-term deterioration in consumer sentiment. - FY2020MaterialisedAnnual report
「During the current fiscal year, the Japanese economy remained on a moderate recovery path as employment and income conditions continued to improve. However, exports and production declined, while private consumption also fell following the consumption tax increase, and the economy began to show signs of slowing.」
The increase in the consumption tax rate, previously disclosed as a future risk, is described as having had an actual impact through the decline in private consumption after implementation. - FY2020-Q3MaterialisedAnnual report
「In the department store industry, trading conditions remained generally difficult, partly due to the consumption tax increase, unsettled weather and a slowdown in inbound demand.」
The increase in the consumption tax rate, previously disclosed as a future risk, has been implemented, and its actual impact is described as a factor contributing to worsening business conditions. - FY2019RestatedAnnual report
「The consumption tax rate is expected to be raised to secure funding for future social security. This could depress private consumption and negatively affect the Group's sales.」
The company continues to identify the decline in private consumption and its impact on sales resulting from an increase in the consumption tax rate as risks. - FY2018First statedAnnual report
「The consumption tax rate is expected to be raised to secure funding for future social security. This could depress private consumption and negatively affect the Group's sales.」
The company identifies the possibility that a future increase in the consumption tax rate could depress private consumption and affect sales.