Risk of Population Decline and Regional Economic Deterioration in Hokkaido
First written in FY2016. 7 of 28 entries say "Mitigated", first in FY2019-Q3. Latest entry: FY2026.
North Pacific Bank moved to the "Worse" side of this theme in 2016.
0 other companies' latest entry also says "Other".
- FY2026Recovery is stalling, while high prices and labor shortages persistAnnual report
「Next, looking at Hokkaido's economy, the gradual recovery has stalled. Private consumption is recovering gradually despite the impact of high prices. Housing investment has declined due to both a reaction to rush demand accompanying revisions to the Building Standards Act and surging construction costs. Business fixed investment has shown signs of recovery. Public investment is increasing. The recovery in domestic tourism demand has stalled. Employment conditions reflect a growing sense of labor shortages.」
Although Hokkaido's economy has maintained a gradual recovery trend, a stalled recovery, stagnation in private consumption due to high prices, declining housing investment, a stalled recovery in tourism demand and intensifying labor shortages were noted. - FY2026-H1Hokkaido's recovery is stalling, amid high prices and labor shortagesAnnual report
「Next, looking at Hokkaido's economy, the gradual recovery has stalled. Private consumption is recovering but shows signs of stagnation due to the impact of high prices. Housing investment has declined due to a reaction to rush demand accompanying revisions to the Building Standards Act. Business fixed investment has shown signs of recovery. Public investment is increasing. Tourism-related activity is on a recovery trend. Employment conditions reflect a growing sense of labor shortages.」
Although Hokkaido's economy has maintained a gradual recovery trend, the description changed to indicate that the recovery has stalled. Stagnation in private consumption due to high prices, declining housing investment and a growing sense of labor shortages were indicated. - FY2025RestatedAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. Private consumption is recovering but shows signs of stagnation due to the impact of high prices. Housing investment has declined due to surging construction costs. Business fixed investment has increased, partly due to the construction of a new advanced semiconductor plant. Public investment has remained at a high level. Tourism-related activity is recovering, with the numbers of visitors to Hokkaido and foreign arrivals returning to pre-pandemic levels. Employment conditions reflect a growing sense of labor shortages.」
Hokkaido's gradual economic recovery and recovery in tourism and business fixed investment continued, while high prices, declining housing investment and labor shortages were identified as ongoing challenges. - FY2025-H1Recovery continues, while high prices and labor shortages have an impactAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. Private consumption is recovering but shows signs of stagnation due to the impact of high prices. Housing investment has declined. Business fixed investment has shown signs of recovery. Public investment is increasing. Tourism-related activity continues to see a recovery in the number of foreign arrivals, while the number of visitors to Hokkaido has moved within a flat range. Employment conditions reflect a growing sense of labor shortages.」
Hokkaido's economy continued its gradual recovery, while stagnation in private consumption due to high prices, a decline in housing investment, a flat trend in the number of visitors to Hokkaido and a growing sense of labor shortages were noted. - FY2024RestatedAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. Housing investment has declined. Business fixed investment is recovering. Private consumption is recovering gradually despite the impact of higher prices. Public investment is increasing. Tourism-related activity is recovering as the numbers of visitors to Hokkaido and inbound tourists increase. Employment conditions reflect a growing sense of labor shortages.」
Although some weakness remains in Hokkaido's economy, gradual recovery and a recovery in tourism-related activity have continued, while the growing sense of labor shortages has persisted. - FY2024-Q3RestatedAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. Housing investment has declined. Business fixed investment has shown signs of recovery. Private consumption is increasing gradually. Public investment is increasing. Tourism-related activity continues to recover alongside the recovery in the number of visitors to Hokkaido and inbound tourism. A growing sense of labor shortages continues in employment conditions.」
Although some weakness remains in Hokkaido's economy, recovery or signs of recovery have continued in private consumption, business fixed investment, public investment and tourism-related activity. Meanwhile, the growing sense of labor shortages has continued. - FY2024-Q1Recovery continues, while labor shortages are becoming more pronouncedAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. Housing investment has declined. Public investment is recovering. Business fixed investment has shown signs of recovery. Private consumption is increasing gradually. Tourism-related activity is recovering alongside the recovery in the number of visitors to Hokkaido and inbound tourism. Employment conditions reflect a growing sense of labor shortages.」
Although some weakness remains in Hokkaido's economy, recovery has continued in private consumption, business fixed investment, public investment and tourism-related activity. Meanwhile, a growing sense of labor shortages was newly identified in employment conditions. - FY2023MitigatedAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. ... Tourism-related activity has shown signs of recovery alongside the recovery in the number of visitors to Hokkaido and inbound tourism.」
The description changed from downward pressure from COVID-19 and a leveling off in the recovery to gradual recovery encompassing visitors to Hokkaido and inbound tourism, private consumption, business fixed investment and employment. - FY2023-Q3MitigatedAnnual report
「Next, looking at Hokkaido's economy, it is recovering gradually, although some weakness remains. Housing investment has declined. Public investment has weakened despite remaining at a high level. Business fixed investment has shown signs of recovery. Private consumption is recovering gradually. Tourism-related activity has shown signs of recovery as the number of visitors to Hokkaido increased following the easing of COVID-19-related restrictions on activities. Employment conditions are recovering gradually.」
Although some weakness remains in Hokkaido's economy, the description changed from the previous year's downward pressure from COVID-19 and a leveling off in the recovery to gradual recovery encompassing private consumption, business fixed investment, tourism and employment. - FY2023-Q1MitigatedAnnual report
「Next, looking at Hokkaido's economy, although the effects of COVID-19 remain, it has shown gradual signs of recovery. ... Tourism-related activity continues to face difficult conditions, although signs of recovery have emerged.」
The effects of COVID-19 remain in Hokkaido's economy and tourism-related activity also remains difficult, while signs of recovery in private consumption, business fixed investment and tourism-related activity were noted, representing an improvement from the previous year's description that the recovery had leveled off. - FY2022WorsenedAnnual report
「Next, looking at Hokkaido's economy, downward pressure has strengthened due to the impact of COVID-19, and the recovery has leveled off. ... Tourism-related activity continues to face difficult conditions due to the renewed spread of infections.」
The description changed from recovery in the previous quarter to stronger downward pressure from the impact of COVID-19 and a leveling off in the recovery. Medium- to long-term market contraction due to the declining birthrate and aging population and a lack of successors also continues. - FY2022-Q3MitigatedAnnual report
「Next, looking at Hokkaido's economy, although the effects of COVID-19 remain, signs of recovery have recently emerged. By demand component, private consumption showed signs of recovery, although some weakness remained. Business fixed investment recovered gradually. Public investment remained at a high level. Tourism-related activity remained difficult but recovered gradually.」
Although conditions remained difficult due to the impact of COVID-19, signs of recovery were noted in private consumption, business fixed investment and tourism-related activity. - FY2022-Q2RestatedAnnual report
「Next, looking at Hokkaido's economy, conditions remain difficult due to the impact of the renewed spread of COVID-19 accompanying the spread of new variants, and activity continues to remain within a flat range.」
Hokkaido's economy was described as remaining difficult and within a flat range amid the renewed spread of COVID-19 due to the prevalence of new variants. Private consumption remained at a low level, and tourism-related activity also continued to face difficult conditions due to extensions of the state of emergency and other factors. - FY2022-Q1Difficult conditions and continued stagnationAnnual report
「Next, looking at Hokkaido's economy, conditions remain difficult due to the impact of the spread of COVID-19, and activity has remained within a flat range. ... Tourism-related activity continues to face difficult conditions.」
Hokkaido's economy remains difficult under the impact of COVID-19. Private consumption remains at a low level, while business fixed investment has shown signs of bottoming out after declining, and tourism-related activity continues to face difficult conditions. - FY2021-Q3WorsenedAnnual report
「Next, looking at Hokkaido's economy, conditions remain difficult due to the impact of the spread of COVID-19, and the pace of recovery has recently slowed.」
The description changed from signs of recovery in the previous quarter to a slowdown in the pace of recovery. It indicated concern about a downturn in private consumption due to an increase in infections, while tourism-related activity remained difficult despite signs of recovery. - FY2021-Q2Recovery after deteriorationAnnual report
「Next, looking at Hokkaido's economy, it deteriorated substantially due to the spread of COVID-19, but showed signs of recovery as socioeconomic activity resumed. By demand component, private consumption declined substantially but has recently shown signs of recovery. Housing investment weakened. Business fixed investment has declined due to uncertainty about the outlook. Public investment remained firm. Tourism-related activity remained in difficult conditions due to suspended international flights and calls for people to refrain from traveling.」
Although Hokkaido's economy deteriorated substantially due to COVID-19, private consumption and other areas showed signs of recovery as socioeconomic activity resumed, while housing investment and business fixed investment remained weak and tourism-related activity continued to face difficult conditions. - FY2021-Q1WorsenedAnnual report
「Next, looking at Hokkaido's economy, conditions rapidly became more severe due to the spread of COVID-19. By demand component, private consumption declined substantially, except in some areas. Housing investment weakened. Business fixed investment weakened due to uncertainty about the outlook. Public investment remained firm. Tourism-related activity remained in difficult conditions due to suspended international flights and calls for people to refrain from traveling.」
Due to the impact of COVID-19, the description of Hokkaido's economy changed from its previous gradual recovery trend to rapid deterioration, particularly in private consumption, housing investment, business fixed investment and tourism-related activity. - FY2020MaterialisedAnnual report
「Tourism-related activity showed some weakness from the second half of the year and has recently deteriorated rapidly due to the spread of COVID-19.」
In addition to the previous risks from population decline and the regional economy after the earthquake, COVID-19 actually brought downward pressure on the regional economy, including tourism, private consumption and corporate earnings. - FY2020-Q3Tourism remains firmAnnual report
「Next, looking at Hokkaido's economy, the gradual recovery continued. By demand component, private consumption continued to increase gradually, although some weakness was evident. Housing investment weakened, centered on rental housing. Business fixed investment increased gradually as labor-saving investment and other investment increased. Public investment increased due to the execution of disaster recovery work related to the Hokkaido Eastern Iburi Earthquake and other factors. Tourism-related activity remained firm, although growth in the number of foreign arrivals has recently slowed.」
The gradual recovery of Hokkaido's economy and continued growth in public investment due to disaster recovery work were noted, while slower growth in foreign arrivals was also indicated. Tourism-related activity overall was characterized as remaining firm, rather than as in the previous quarter's description. - FY2020-Q2Recovery continues, but tourism growth is slowingAnnual report
「Next, looking at Hokkaido's economy, the gradual recovery continued. By demand component, private consumption continued to increase gradually, although some weakness was evident. Housing investment weakened, centered on rental housing, while the previously strong owner-occupied housing segment also showed signs of leveling off. Business fixed investment increased gradually, driven by labor-saving investment and other factors. Public investment increased due to the execution of disaster recovery work related to the Hokkaido Eastern Iburi Earthquake and other factors. Tourism-related activity remained firm, but recently the growth in both the number of visitors to Hokkaido and foreign tourists has slowed.」
The gradual recovery of Hokkaido's economy and increased public investment due to disaster recovery work were noted, while slower growth in the numbers of visitors to Hokkaido and foreign tourists was also indicated. - FY2020-Q1MitigatedAnnual report
「Looking at Hokkaido's economy, the gradual recovery continued. By demand component, private consumption continued to increase gradually, although some weakness was evident. Public investment moved within a flat range, but has recently shown signs of recovery due to orders for post-earthquake disaster recovery work and other factors. Tourism-related activity remained strong as the number of foreign tourists continued to rise.」
Hokkaido's economy continued its gradual recovery, with public investment showing signs of recovery and tourism-related activity remaining strong against the backdrop of post-earthquake disaster recovery work and an increase in foreign tourists. - FY2019MitigatedAnnual report
「Although the Hokkaido Eastern Iburi Earthquake exerted downward pressure, the economy is recovering gradually. Tourism-related activity has recovered from the effects of the earthquake, and the numbers of foreign and domestic tourists have exceeded the previous year's levels since December.」
Although downward pressure from the earthquake on the regional economy remains, tourism-related activity has recovered to the point that the numbers of foreign and domestic tourists exceed the previous year's levels. - FY2019-Q3MitigatedAnnual report
「The downward pressure resulting from the Hokkaido Eastern Iburi Earthquake continued to ease.」
The downward pressure on the regional economy from the Hokkaido Eastern Iburi Earthquake eased, and tourism-related activity showed signs of recovery, led by domestic visitors. Meanwhile, the effects of the earthquake itself, including a decline in visitors to Hokkaido, have continued. - FY2019-Q2MaterialisedAnnual report
「The impact of the Hokkaido Eastern Iburi Earthquake that occurred on 6 September this year has been seen across a wide range of areas, including production, logistics and tourism, creating concern about downward pressure. / Tourism-related activity had been strong against a backdrop of rising numbers of foreign tourists, but the Hokkaido Eastern Iburi Earthquake resulted in numerous booking cancellations.」
The Hokkaido Eastern Iburi Earthquake actually affected production, logistics and tourism and resulted in numerous tourism booking cancellations, bringing the downward pressure on the regional economy to the fore. - FY2018RestatedAnnual report
「Meanwhile, Hokkaido is an advanced region in terms of population decline and the declining birthrate and aging population, and the market is expected to contract in the future due to a decline in businesses resulting from a lack of successors, reduced purchasing power accompanying population decline, and a growing sense of labor shortages.」
We continue to identify market contraction caused by population decline, the declining birthrate and aging population, a lack of successors, lower purchasing power and labor shortages as challenges. Meanwhile, the current fiscal year also describes a recovery in tourism-related activity. - FY2017WorsenedAnnual report
「Over the medium to long term, market contraction is also expected as population decline due to the declining birthrate and aging population progresses.」
We explicitly identified population decline and market contraction due to the declining birthrate and aging population as medium- to long-term concerns in the operating environment. - FY2017-Q2MaterialisedAnnual report
「The outlook is also uncertain, as primary industries and tourism were affected by the successive typhoons that made landfall in August. / There were also successive cancellations of accommodation bookings, particularly in areas affected by the typhoons.」
The impact of the typhoons on Hokkaido's primary industries and tourism, as well as accommodation cancellations, actually occurred, bringing the adverse effects on the regional economy to the fore. - FY2016First statedAnnual report
「Over the medium to long term, as demographic and socioeconomic structural changes, including population decline, gather pace, we believe that the role of regional financial institutions in regional revitalization will become increasingly important.」
We recognize that deterioration of the regional economy due to population decline, the contraction of public works and other factors could affect our earnings base and credit risk.