Population Decline, Aging and Concentration in Metropolitan Areas
First written in FY2016. 13 of 21 entries say "Restated". Latest entry: FY2026-H1.
East Japan Railway Company moved to the "Worse" side of this theme in 2024, 2 years before the typical company in this theme (2026).
The whole theme swung hardest in 2025: 2 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「In Japan, the working-age population is declining, birth rates are falling and the population is aging, while excessive concentration in the Tokyo metropolitan area and depopulation in regional areas are progressing. People's values are diversifying, and the COVID-19 pandemic has significantly changed lifestyles and markets.」
In addition to population decline, declining birth rates, aging and concentration in the Tokyo metropolitan area, depopulation in regional areas and changes in values, lifestyles and markets were repeatedly identified as changes in the operating environment. - FY2025WorsenedAnnual report
「In Japan, the working-age population is declining, birth rates are falling and the population is aging, while excessive concentration in the Tokyo metropolitan area and depopulation in regional areas are progressing.」
In addition to population decline and aging, depopulation in regional areas was repeatedly identified as an ongoing change in the operating environment. Responses to labor shortages and difficulties in recruitment were also specified as human capital risks. - FY2024WorsenedAnnual report
「Population decline, declining birth rates and population aging, labor shortages, and increased labor mobility are progressing faster than anticipated.」
In addition to population decline and aging, labor shortages and increased labor mobility were presented as changes in the operating environment progressing faster than anticipated. - FY2024-Q3RestatedAnnual report
「As socioeconomic activity normalizes following the COVID-19 pandemic, the Group will combine its real-world network, one of its strengths, with digital capabilities, deepen integration and collaboration, and pursue new fields to create new value and services centered on people.」
The Company stated that, while assuming the normalization of socioeconomic activity after the COVID-19 pandemic, it would create value by integrating its real-world network with digital capabilities. - FY2024-Q2RestatedAnnual report
「As socioeconomic activity normalizes following the COVID-19 pandemic, we expect customer usage to continue recovering steadily, but believe that it will not return to previous levels because of changes in lifestyles and other factors.」
The Company continues to believe that usage will recover but will not return to previous levels because of changes in lifestyles and other factors. - FY2024-Q1RestatedAnnual report
「As socioeconomic activity normalizes following the COVID-19 pandemic, we expect customer usage to continue recovering steadily, but believe that it will not return to previous levels because of changes in lifestyles and other factors.」
The Company continues to believe that usage will recover but will not return to pre-pandemic levels because of changes in lifestyles. - FY2023Update to demand recovery assumptionsAnnual report
「Although COVID-19 has subsided to a certain extent, activity among people in Japan and overseas has increased, and we expect customer usage to recover steadily going forward. However, we believe that it will not fully return to pre-pandemic levels because of changes in lifestyles.」
The previous assumption of recovery to approximately 90% during fiscal 2022 was updated to the view that usage would recover but would not fully return to pre-pandemic levels. - FY2023-Q3RestatedAnnual report
「In estimating the recoverability of deferred tax assets and impairment of fixed assets at the end of the third quarter of the current consolidated fiscal year, we assume that railway transportation revenue will recover to approximately 90% of the level before the COVID-19 pandemic during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The assumption that railway transportation revenue will recover to approximately 90% of the pre-pandemic level during fiscal 2022, while the effects of structural changes such as teleworking will continue, remains unchanged. - FY2023-Q2RestatedAnnual report
「In estimating the recoverability of deferred tax assets and impairment of fixed assets at the end of the second quarter of the current consolidated fiscal year, we assume that railway transportation revenue will recover to approximately 90% of the level before the COVID-19 pandemic during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The assumption that railway transportation revenue will recover to approximately 90% of the pre-pandemic level during fiscal 2022, while the effects of structural changes such as teleworking will continue, remains unchanged. - FY2023-Q1RestatedAnnual report
「In estimating the recoverability of deferred tax assets and impairment of fixed assets at the end of the first quarter of the current consolidated fiscal year, we assume that railway transportation revenue will recover to approximately 90% of the level before the COVID-19 pandemic during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The assumption that railway transportation revenue will recover to approximately 90% of the pre-pandemic level during fiscal 2022, while the effects of structural changes such as teleworking will continue, remains unchanged. - FY2022RestatedAnnual report
「Japan's economic conditions have been significantly affected by the spread of COVID-19. Although we expect customer usage to recover steadily going forward, we believe that it will not return to pre-pandemic levels because of changes in lifestyles.」
The Company maintained its view that demand would recover but would not return to pre-pandemic levels, taking into account population decline, aging and changes in lifestyles. - FY2022-Q3RestatedAnnual report
「In estimating the recoverability of deferred tax assets at the end of the third quarter of the current consolidated fiscal year, we assume that railway transportation revenue will recover to approximately 85% of the level before the COVID-19 pandemic during fiscal 2021 and approximately 90% during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The assumption that railway transportation revenue will recover to approximately 85% during fiscal 2021 and approximately 90% during fiscal 2022, while structural changes such as teleworking will continue, remains unchanged. - FY2022-Q2RestatedAnnual report
「In estimating the recoverability of deferred tax assets at the end of the second quarter of the current consolidated fiscal year, we assume that railway transportation revenue will recover to approximately 85% of the level before the COVID-19 pandemic during fiscal 2021 and approximately 90% during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The assumption that railway transportation revenue will recover to approximately 85% during fiscal 2021 and approximately 90% during fiscal 2022, while structural changes such as teleworking will continue, remains unchanged. - FY2022-Q1RestatedAnnual report
「In estimating the recoverability of deferred tax assets at the end of the first quarter of the current consolidated fiscal year, we assume that railway transportation revenue will recover to approximately 85% of the level before the COVID-19 pandemic during fiscal 2021 and approximately 90% during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The assumption that railway demand will recover to approximately 85% during fiscal 2021 and approximately 90% during fiscal 2022, while structural changes such as teleworking will continue, remains unchanged. - FY2021Explicit assumption of demand recoveryAnnual report
「As a key assumption underlying our earnings forecasts, we assume that railway transportation revenue will recover to approximately 85% of the level before the COVID-19 pandemic during fiscal 2021 and approximately 90% during fiscal 2022, while the effects of structural changes in society, including the spread of teleworking, will continue.」
The timing and level of recovery in railway transportation revenue were quantified on the assumption that structural changes such as population decline, aging and teleworking would continue. - FY2021-Q2WorsenedAnnual report
「Furthermore, we believe that changes in people's behavior and values in the post-COVID-19 society will cause substantial and rapid changes in the operating environment surrounding the Group, and that demand from railway customers will not return to previous levels.」
The Company stated that, in addition to medium- to long-term changes such as population decline, demand will recover but will not return to previous levels as behavior and values change in the post-COVID-19 society. - FY2021-Q1WorsenedAnnual report
「Over the medium to long term, the operating environment surrounding the Group is expected to change substantially and rapidly, owing to further population decline and aging, technological innovation such as autonomous driving, and the advancement of digital transformation (DX). We also believe that changes in people's behavior and values in the post-COVID-19- pandemic society will further accelerate these changes.」
In addition to the longstanding challenges of population decline and aging, DX and changes in behavior and values in the post-COVID-19 society were explicitly identified as rapid changes in the operating environment. - FY2019RestatedAnnual report
「In Japan, the operating environment is expected to change substantially over the medium to long term, with further population decline, population aging and continued concentration in the Tokyo metropolitan area, as well as technological innovation such as autonomous driving and changes in globalization.」
Population decline, population aging and concentration in the Tokyo metropolitan area, along with technological innovation such as autonomous driving and globalization, continue to shape changes in the operating environment over the medium to long term. - FY2018-Q3RestatedAnnual report
「Over the medium to long term, further population decline and aging, as well as greater population concentration in the Tokyo metropolitan area, are expected, together with changes in industrial structure resulting from technological innovation and globalization, among other factors.」
In addition to population decline, aging and concentration in the Tokyo metropolitan area, changes in industrial structure resulting from technological innovation and globalization continue to be identified as medium- to long-term changes in the business environment. - FY2017RestatedAnnual report
「Over the medium to long term, further population decline and aging, as well as greater population concentration in the Tokyo metropolitan area, are expected, together with advances in technological innovation and globalization.」
Population decline, aging and concentration in the Tokyo metropolitan area continue to be identified as medium- to long-term changes in the business environment. - FY2016First statedAnnual report
「Over the medium to long term, further population decline and aging, as well as greater population concentration in metropolitan areas, are expected, together with advances in technological innovation and globalization and expansion in inbound demand.」
These factors are listed as medium- to long-term changes in the business environment and form the background to the response under the management vision.