Intensifying competition in railway and lifestyle services businesses
First written in FY2016. 5 of 8 entries say "Worsened", first in FY2020. Latest entry: FY2026.
The whole theme swung hardest in 2026: 31 of 91 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「In Japan, population decline, the declining birthrate and aging population, and population concentration in the Tokyo metropolitan area and depopulation of regional areas are progressing. Prices and interest rates are on an increasingly upward trend, and demands for management that is conscious of the cost of capital and share prices are growing. Technological advances, including AI, robotics and autonomous-driving technology, are also accelerating rapidly.」
Regarding competition and external environmental risks, a broad range of factors was again identified, including demographics, higher prices and interest rates, the cost of capital, and advances in AI, robotics and autonomous driving. - FY2026-H1WorsenedAnnual report
「In Japan, the working-age population is declining, the birthrate is falling and the population is aging, while population concentration in the Tokyo metropolitan area and depopulation of regional areas are progressing. People's values are becoming more diverse, and lifestyles and markets have changed substantially as a result of the COVID-19 pandemic. In addition to the arrival of a world with interest rates, demands for management that is conscious of the cost of capital and share prices are growing. Technological advances, including generative AI, robotics and autonomous-driving technology, are also accelerating. Efforts to achieve a decarbonized society have become a global issue.」
As changes in competition and the business environment, the disclosure explicitly identified demographics and changes in lifestyles, as well as interest rates and the cost of capital, generative AI, robotics, autonomous driving and decarbonization. - FY2025WorsenedAnnual report
「In Japan, the working-age population is declining, the birthrate is falling and the population is aging, while population concentration in the Tokyo metropolitan area and depopulation of regional areas are progressing. People's values are becoming more diverse, and lifestyles and markets have changed substantially as a result of the COVID-19 pandemic. In addition to the arrival of a world with interest rates, demands for management that is conscious of the cost of capital and share prices are growing.」
Regarding competition and external environmental risks, a broad range of changes was identified, including demographics and remote work, as well as higher interest rates, greater awareness of the cost of capital, and changes in lifestyles and markets. - FY2022WorsenedAnnual report
「In the railway business, transportation volume may decline and affect earnings and other aspects of the business due to intensifying competition in the transportation market resulting from route expansion by low-cost carriers (LCCs), expansion of expressway networks and the practical application of autonomous-driving technology, as well as population decline, the declining birthrate and aging population, and the spread of changes in working styles such as remote work. In addition, a shortage of personnel due to difficulties in hiring and uncertainty over the supply of materials may affect the normal operation of the business.」
In addition to competition risks, the range of external environmental factors affecting transportation demand and business operations, including autonomous driving, remote work, difficulties in hiring and uncertainty over material supplies, was continuously identified. - FY2020WorsenedAnnual report
「A shortage of personnel due to difficulties in hiring and difficulties in procuring materials may affect the normal operation of the business.」
In addition to conventional competition from railways, aviation and automobiles, the range of external environmental changes expanded to include population decline, the spread of remote work, difficulties in hiring and difficulties in procuring materials. - FY2019RestatedAnnual report
「In the railway business, the Group competes with other railways and alternative modes of transport such as aircraft, automobiles and buses, while in the lifestyle-services business it competes with both existing and new operators.」
The risk of competition in the railway, aviation and automobile sectors and other areas, as well as in the lifestyle-services sector, continues to be described. - FY2017RestatedAnnual report
「In the railway business, the Group competes with other railways and alternative modes of transport such as aircraft, automobiles and buses, while in the lifestyle-services business it competes with both existing and new operators.」
The risk of intensifying competition in the railway, aviation and automobile sectors and other areas, as well as in the lifestyle-services sector, continues to be disclosed. - FY2016First statedAnnual report
「Intensifying competition in the transportation market, resulting from progress on major improvement projects by other railway operators in the Tokyo metropolitan area, route expansion by low-cost carriers (LCCs) and discounts on expressway tolls, among other factors, may affect earnings and other aspects of the business.」
In the lifestyle-services business, competition from new entrants and the renovation of existing commercial facilities is also identified.