Demand pullback associated with overseas tax changes and other developments
First written in FY2017-Q1. 2 of 3 entries say "Mitigated", first in FY2019-Q2. Latest entry: FY2019.
0 other companies' latest entry also says "Mitigated".
- FY2019MitigatedAnnual report
「In Malaysia, the 6% Goods and Services Tax was abolished in June, and sales grew substantially after its abolition. However, a Sales and Services Tax was introduced in September. To address consumers' reluctance to purchase goods from September, a price-freeze sale was held, and AEON CO.(M)BHD. recorded sales above the previous year's level.」
In response to consumers postponing purchases following Malaysia's tax changes, a price-freeze sale was held, securing sales above the previous year's level. - FY2019-Q2MitigatedAnnual report
「Malaysia abolished its 6% Goods and Services Tax (GST) following a change of government in May. At AEON CO.(M)BHD., as consumers became increasingly reluctant to purchase goods ahead of the tax abolition, the company secured sales by strengthening promotional activities, including 6% cashback sales. Demand has also recovered since June, mainly for durable consumer goods such as household appliances and household products.」
In response to the impact on demand from consumers postponing purchases ahead of the abolition of GST, sales were secured through promotions such as 6% cashback sales, and demand recovery was reported from June onward. - FY2017-Q1MaterialisedAnnual report
「Although the period was affected by a backlash from front-loaded demand ahead of the introduction of the Goods and Services Tax (GST) in Malaysia on 1 April of the previous year, the Group worked to strengthen its business platform in Malaysia, including by opening AEON Mall Shah Alam, one of the country's largest shopping malls, in Shah Alam, the capital of Selangor, in March.」
The note explains that a backlash from front-loaded demand ahead of the introduction of Malaysia's GST emerged during the quarter.