Fluctuations in Business Earnings Due to Economic Conditions and Price Competition
First written in FY2016. 20 of 28 entries say "Restated". Latest entry: 2026-11-11.
Tosho moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 46 of 75 companies on the "Worse" side.
39 other companies' latest entry also says "Restated".
- FY2026WorsenedAnnual report
「Geopolitical risks will continue to represent a major source of uncertainty. Developments in Ukraine and the Middle East, structural changes in international trade markets resulting from the tariff policies of the U.S. Trump administration, and worsening relations between Japan and China could have a major impact on the business environment. Accordingly, the company intends to respond appropriately to economic trends and changes and manage its businesses accurately.」
In addition to the existing economic and price-competition risks, the company has specified the situations in Ukraine and the Middle East, U.S. tariff policies, and Japan-China relations as sources of geopolitical uncertainty. - 2026-05-13RestatedRevision to earnings forecast
「一方で、金融面では円安傾向にある為替と、日本銀行の政策金利の追加利上げを巡る不安定な状況が続いています。また、地政学リスクの影響が依然として大きく、中東情勢の緊迫化により、原油関連を中心としたエネルギー及び関連製品の供給状況に不確実性が生じ、今後も予断を許さない状況です。」
金融、地政学、エネルギー供給に関する事業環境上のリスクを引き続き記載している。 - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic conditions, price competition and other factors. - FY2025WorsenedAnnual report
「Meanwhile, the continued geopolitical risks overseas led to higher domestic energy prices and raw-material costs, while labor shortages increased operating costs. These trends in cost-push inflation became a headwind for economic activity in Japan.」
In addition to the existing economic and competitive environment, the company identifies geopolitical risks, energy and raw-material prices, and higher operating costs due to labor shortages as specific factors worsening the earnings environment. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic conditions, price competition and other factors. - FY2024WorsenedAnnual report
「The market environment for the core sports club business is becoming increasingly competitive, with successive new entrants offering differentiated services and aggressively priced services. Accordingly, customer preferences and consumption behavior are also undergoing significant changes as customers seek better services.」
The company recognizes intensifying competition from new entrants to the sports club market and aggressively priced services, and identifies changes in customer preferences and consumption behavior as risk factors. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended in the third quarter, there was no occurrence of any new business or other risk, nor any material change in the business or other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic conditions, price competition and other factors. - FY2024-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, there were no new business or other risks, and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic conditions, price competition and other factors. - FY2024-Q1RestatedAnnual report
「Although personal consumption has shown a gradual recovery as a result of these measures, uncertainty about the outlook for consumer trends and other factors has continued due to rising prices, including energy resources, resulting from overseas conditions and exchange-rate movements.」
While recognizing a recovery trend in personal consumption, the company continues to describe an uncertain economic environment resulting from overseas conditions, exchange rates, energy resources and rising prices. - FY2023-Q3WorsenedAnnual report
「During the cumulative first nine months of the consolidated fiscal year, the number of new infections repeatedly expanded and contracted from July onward due to a new, highly transmissible variant. Uncertainty about the outlook has continued, including soaring energy-resource prices resulting from overseas conditions and exchange-rate movements.」
In addition to the existing economic and competitive environment, uncertainty in the economic environment has continued, including a new viral variant, overseas conditions and surging energy-resource prices caused by exchange-rate movements. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the consolidated fiscal year, the effects of the spread of the infection described in the previous fiscal year’s annual securities report under “Part I Corporate Information, II Business Overview, 2 Business and Other Risks, (4) Risks from Natural Disasters and Infectious Diseases” continued to have a negative impact on the Group’s business. However, the effects remained within the anticipated range, with no material changes.」
The negative effects of the spread of the infection on economic conditions and consumer activity have continued, but are proceeding within the anticipated range, with no material changes. - FY2021MaterialisedAnnual report
「For the consolidated fiscal year, net sales were ¥17,625 million, down 48.9% year on year; operating income was ¥1,080 million, down 88.8%; ordinary income was ¥1,149 million, down 88.0%; and net income attributable to owners of the parent was ¥217 million, down 96.2%.」
Economic-environment risks, including economic stagnation and lower consumer activity, have materialized as substantial declines in consolidated net sales and profit. - FY2021-Q3MaterialisedAnnual report
「During the cumulative first nine months of the consolidated fiscal year, requests from the government and other authorities to suspend operations and refrain from going out to prevent the spread of the novel coronavirus infection (hereinafter, the “infection”) changed lifestyles and depressed consumer activity, negatively affecting not only the Japanese economy but also the global real economy.」
The company states that the negative effects on the real economy from the previously identified risks of economic stagnation and depressed consumer activity have continued to materialize. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter of the consolidated fiscal year, requests from the government and other authorities to suspend operations and refrain from going out to prevent the spread of the novel coronavirus infection (hereinafter, the “infection”) changed lifestyles and depressed consumer activity, negatively affecting not only the Japanese economy but also the global real economy,」
The effects of previously identified economic-environment risks, namely economic stagnation and lower consumer activity, have actually materialized. - FY2020-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative first nine months of the consolidated fiscal year. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic trends, uncertainty in overseas economies, price competition and other factors. This is a routine confirmation of existing risks generally, with no quantification or report of actual occurrences. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic trends, uncertainty in overseas economies, price competition and other factors. - FY2019-Q3RestatedAnnual report
「During the first three quarters, there were no newly arising business or other risks, and no material changes were made to the business or other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic trends and price competition with competitors. - FY2019-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year-to-date period, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic trends, overseas economies, price competition and other factors. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the preceding fiscal year.」
No new occurrences or material changes have been identified in risks of fluctuations in business earnings arising from economic trends, overseas economies, exchange-rate movements, price competition and other factors. The company also refers to the continued stagnation and uncertainty of the economic environment. - FY2018RestatedAnnual report
「Going forward, we may enter new businesses or, even in existing businesses, temporarily reduce sales or withdraw from a business due to domestic economic trends, price competition with competitors and other factors.」
The company continues to face the risk of lower sales and business withdrawals due to domestic economic conditions and competition. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new occurrences or material changes in the risk of earnings volatility due to economic trends and price competition with competitors. - FY2018-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new occurrences or material changes in the risk of earnings volatility due to economic trends and price competition with competitors. - FY2017RestatedAnnual report
「Going forward, we may enter new businesses or, even in existing businesses, temporarily reduce sales or withdraw from a business due to domestic economic trends, price competition with competitors and other factors.」
The company continues to disclose the risk of lower sales and business withdrawals due to economic trends and price competition with competitors. - FY2017-Q3RestatedAnnual report
「During the first three quarters, there were no newly arising business or other risks, and no material changes were made to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to the existing risks related to economic conditions, the business environment and competition. - FY2017-Q2RestatedAnnual report
「Under these economic conditions, in our core sports club business,」
The company states that it operates under an uncertain economic environment, including the risk of a rapid appreciation of the yen and a downturn in overseas economies. - FY2016First statedAnnual report
「Going forward, we may enter new businesses or, even in existing businesses, temporarily reduce sales or withdraw from a business due to domestic economic trends, price competition with competitors and other factors.」
The disclosure describes the possibility of lower sales, business withdrawals, and changes to the core businesses and sales mix due to domestic economic conditions and competition.