Risk of Slower E-commerce Market Growth and Delays in Customer Response
First written in FY2021. 1 of 8 entries say "Reframed", first in FY2022. Latest entry: FY2026.
The whole theme swung hardest in 2023: 2 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Other".
- FY2026Market-size metrics updatedAnnual report
「According to the results of the August 2025 E-Commerce Market Survey (Ministry of Economy, Trade and Industry), Japan's domestic BtoC-EC market grew from ¥24.8 trillion in 2023 to ¥26.1 trillion in 2024, an increase of 5.1% year on year.」
The EC market benchmark has been updated to 2024 actual results, with a disclosed market size of ¥26.1 trillion, up 5.1% year on year. Security threats, regulatory requirements and unforeseen factors continue to be listed as barriers to growth. - FY2025Market-size metrics updatedAnnual report
「According to the results of the “E-Commerce Market Survey (Ministry of Economy, Trade and Industry)” announced in September 2024, Japan’s domestic B2C e-commerce market increased from ¥22.7 trillion in 2022 to ¥24.8 trillion in 2023, expanding 9.2% year on year.」
The EC market benchmark has been updated to 2023 actual results, with a disclosed market size of ¥24.8 trillion, up 9.2% year on year. Security threats, regulatory requirements and unforeseen factors continue to be listed as barriers to growth. - FY2024Market-size metrics updatedAnnual report
「According to the results of the “E-Commerce Market Survey (Ministry of Economy, Trade and Industry)” announced in August 2023, Japan’s domestic B2C e-commerce market increased from ¥20.7 trillion in 2021 to ¥22.7 trillion in 2022, expanding 9.9% year on year.」
The company has updated the e-commerce market benchmark to the 2022 actual figure and disclosed a market size of ¥22.7 trillion, up 9.9% year on year. It continues to identify security threats, laws and regulations, and unforeseen factors as impediments to e-commerce market growth. - FY2023-Q2Market-size metrics updatedAnnual report
「In the merchandise sector of the B2C e-commerce market served by the company, the 2021 market size increased by ¥1.0532 trillion from ¥12.2333 trillion in 2020 to ¥13.2865 trillion (source: Ministry of Economy, Trade and Industry, “FY2021 Digital Transaction Environment Development Project (E-Commerce Market Survey)”).」
The company has updated the base year for the e-commerce merchandise market to 2021 and disclosed a market size of ¥13.2865 trillion. It considers there to have been no material change in the key risks. - FY2023-Q1Market growth metrics updatedAnnual report
「According to the Ministry of Economy, Trade and Industry’s “Development of Infrastructure for a Data-Driven Society in Japan (E-Commerce Market Survey),” the merchandise sector of the B2C e-commerce market served by the company recorded a compound annual growth rate (CAGR) of 11.2% over the 5 years from 2016. The pace of e-commerce market expansion is expected to accelerate further due to the spread and expansion of cashless payments using smartphones and other devices, an increase in online shopping users resulting from behavioral changes triggered by the COVID-19 pandemic, and the growth of D2C (Direct to Consumer), in which manufacturers sell their own products directly to consumers through e-commerce sites.」
For the e-commerce market, the company has updated the indicator showing an average growth rate of 11.2% over the 5 years from 2016 and cited cashless payments, changes in behavior, and D2C as growth drivers. It considers there to have been no material change in the key risks. - FY2022ReframedAnnual report
「The company expects these trends to continue, but if security threats, laws and regulations, or other unforeseen factors impede growth in the e-commerce market, this may affect its operating results and financial condition.」
The company has recast the risk factors from the previous wording of slower growth and delayed responses by major customers to impediments to e-commerce market growth caused by security threats, laws and regulations, and unforeseen factors. Meanwhile, it states that the 2020 market size was ¥12.2333 trillion, up 21.7% year on year. - FY2022-Q3Market size and growth outlook updatedAnnual report
「According to the Ministry of Economy, Trade and Industry’s “FY2020 E-Commerce Market Survey,” the merchandise sector of the B2C e-commerce market surrounding the company’s mail-order logistics business grew sharply, with the 2020 market size increasing 21.7% from ¥10.0515 trillion in 2019 to ¥12.2333 trillion, well above the 8.6% average growth rate over the past 5 years. The pace of e-commerce market expansion is expected to accelerate further due to changes in consumer behavior triggered by the COVID-19 pandemic, the spread and expansion of cashless payments, and the growth of D2C (Direct to Consumer), in which manufacturers sell their own products directly to consumers through e-commerce sites.」
The company considers there to have been no material change in the risk disclosure itself, while updating the e-commerce market size to the 2020 actual figure and anticipating accelerated market expansion driven by changes in consumer behavior, cashless payments, and D2C. - FY2021First statedAnnual report
「However, if growth in the e-commerce market slows in the future, or if major customers are unable to respond to the diversification of devices and advances in internet services, this may affect the company’s operating results and financial condition.」
The company cites a B2C e-commerce market size of ¥10.0515 trillion in 2019, up 8.09% year on year, and an e-commerce penetration rate of 6.76%, while identifying slower growth and delayed responses by major customers as risks.