Population aging and declining domestic B2B logistics demand
First written in FY2022-Q1. 5 of 7 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2023: 10 of 30 companies on the "Worse" side.
39 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「In domestic logistics, cargo movements improved as consumer spending and capital investment recovered, but upward pressure on logistics costs, including labor and crude oil prices, remained strong, and conditions continued to be difficult.」
Domestic logistics demand improved with the recovery in consumer spending and capital investment, but strong cost pressures meant that difficult conditions continued. - 2026-05-13RestatedRevision of earnings forecasts
「In domestic logistics, consumer-related cargo remained firm and some production-related cargo showed signs of recovery, while construction-related cargo remained weak. As a result, overall cargo movements lacked strength.」
Continues to recognise that domestic cargo movements overall lacked strength, despite firm consumer-related cargo and some recovery in production-related cargo, due in part to weakness in construction-related cargo. - FY2025-H1RestatedAnnual report
「In domestic logistics, cargo movements remained generally weak, although consumer spending and capital investment showed signs of recovery.」
The view that domestic logistics demand remains generally weak was maintained, despite some recovery in consumer spending and capital investment. - FY2024RestatedAnnual report
「A decline in transportation demand in Japan’s domestic market is a risk that could adversely affect the NX Group’s business, operating results and financial position. We regard it as a medium- to long-term issue, however, and expect the decline to be gradual for the time being.」
The decline in domestic transportation demand continues to be viewed as a medium- to long-term risk, with a gradual decline expected in the near term. - FY2024-Q1RestatedAnnual report
「In Japan, cargo movements also remained generally weak, affected by factors including declining consumer sentiment due to higher product prices.」
Weak domestic logistics demand continued to be reflected in cargo movements during the quarter. - FY2022SoftenedAnnual report
「A decline in transportation demand in Japan’s domestic market is a risk that could adversely affect the NX Group’s business, operating results and financial position. We regard it as a medium- to long-term issue, however, and expect the decline to be gradual for the time being.」
The risk of declining domestic B2B transportation demand remains, but the outlook is for a gradual decline in the near term, limiting the anticipated short-term severity. - FY2022-Q1First statedAnnual report
「The business environment in Japan’s domestic logistics market is expected to change as demand declines against a backdrop of a falling birthrate and an aging population, while logistics itself changes, including through e-commerce. Demand for B2B freight transportation is also expected to decline.」
Structural changes in the domestic logistics market and declining B2B transportation demand are identified as key issues.