Declining Funeral Fees and Intensifying Competition for Customers

「On a like-for-like 12-month basis, the number of funerals at 公益社グループ decreased 1.8%, the average fee per funeral decreased 3.0%, and segment profit decreased 26.9%.」

「The Group-wide number of funerals conducted increased 92.8% year on year following the consolidation of Kizuna Holdings Co., Ltd., while the average revenue per funeral fell 8.0% year on year because family funerals accounted for a larger proportion of all funerals conducted.」

「The average revenue per funeral fell 7.4% from the previous fiscal year due to the increased proportion of family funerals.」

「As funerals became smaller, the average revenue per funeral fell 1.8% year on year, while the number of funerals conducted increased 9.6% year on year.」

「This was because the average revenue per funeral rose 2.8% from the previous fiscal year, led by standard funerals, despite a 0.6% decline in the total number of funerals conducted.」

「Funeral service revenue at the group's 3 funeral service companies increased 0.7% year on year during the period. This resulted from a 1.8% year-on-year increase in the average revenue per funeral, mainly for general funerals, despite a 1.1% year-on-year decrease in the total number of funerals. General funerals are defined as funerals with a value of ¥5 million or less.」

「This was because the total number of funerals remained at approximately the previous year's level, while the average revenue per funeral rose 1.6% year on year as the average revenue for standard funerals increased, despite lower revenue from large-scale funerals.」

「The Group's average revenue per funeral fell 1.0% year on year, mainly due to lower revenue from large-scale funerals, while the total number of funerals conducted increased 2.6% year on year due to the effect of new openings.」

「Meanwhile, average revenue per funeral increased as it showed a generally modest recovery and was further supported by a decline in the number of simple, low-priced funerals.」

「Meanwhile, average revenue per funeral increased as it showed a generally modest recovery and was further supported by a decline in the number of simple, low-priced funerals.」

「Meanwhile, competition, particularly for small funerals, is intensifying in the funeral industry due to an acceleration in new openings in various regions and the emergence of matching businesses.」

「Meanwhile, although the increase in the number of large-scale funerals supported higher average revenue per funeral, lower pricing for conventional funerals caused average revenue per funeral to decline slightly overall.」

「Meanwhile, although the increase in the number of large-scale funerals supported higher average revenue per funeral, lower pricing for conventional funerals caused average revenue per funeral to decline slightly overall. As a result, the Group's total revenue from funeral services increased 11.9% year on year.」

「Meanwhile, average revenue per funeral improved mainly because the proportion of large-scale funerals increased and pricing rose, resulting in a 23.5% year-on-year increase in the Group's total revenue from funeral services.」

「During the fiscal year, the number of funerals performed increased at 株式会社公益社 and 株式会社タルイ, and the Group's total number of funerals performed increased 0.2% from the same quarter of the previous year, hereinafter the previous-year period. Meanwhile, average revenue per funeral declined at all 3 of the Group's funeral companies because funerals became smaller amid the spread of the novel coronavirus, resulting in a 12.0% year-on-year decline in revenue from funeral services.」

「Meanwhile, average revenue per funeral declined at all 3 companies because funerals became smaller amid the spread of the novel coronavirus, resulting in a 16.1% year-on-year decline in revenue from funeral services.」

「Meanwhile, average revenue per funeral declined at all 3 companies because funerals became smaller amid the spread of the novel coronavirus, resulting in a 16.9% year-on-year decline in revenue from funeral services.」

「Although the average revenue per funeral was affected by the COVID-19 pandemic from late February 2020 onward, measures by each company to raise unit prices for general funerals proved effective, resulting in a 0.5% year-on-year increase for the group as a whole.」

「Meanwhile, average revenue per funeral was maintained at the previous-year period level for the Group as a whole, as measures by each company to raise pricing for conventional funerals proved effective.」

「Meanwhile, average revenue per funeral remained below the previous-year period at all 3 companies, but showed signs of improvement compared with the first-quarter consolidated accounting period, April to June. As a result, revenue from funeral services increased 2.8% year on year.」

「During the fiscal year, the number of funerals performed increased at the Group's 3 funeral companies, and the total number of funerals performed by the Group increased 4.8% from the same quarter of the previous year, hereinafter the previous-year period. However, because average revenue per funeral declined at all 3 companies, revenue from funeral services increased only 0.4% year on year.」

「However, the number of conventional funerals performed in the Kansai region declined in some areas due to the impact of successive new openings by competitors since Heisei 28.」

「Meanwhile, intense competition among operators continues, including new funeral hall openings by funeral operators and customer acquisition through the internet by funeral referral companies.」

「In addition, as stable growth in funeral demand is expected over the long term, intense competition among providers continues, including new openings of funeral halls by funeral operators and customer acquisition via the internet by funeral referral companies.」

「Meanwhile, intense competition for customers, accompanied by new funeral hall openings, continues in the funeral industry.」

「The trend toward smaller funerals and intense competition among operators, particularly in the low-priced, simple-funeral segment, are driving down average revenue per funeral.」

「Meanwhile, intense competition among operators continues in the funeral industry, including new funeral hall openings and the activities of providers specializing in funeral referrals generated through the internet.」

「Competition among operators, particularly in the low-priced, simple-funeral segment, is accelerating the decline in average revenue per funeral.」

「Meanwhile, intense competition among operators continues.」

「Meanwhile, average revenue per funeral fell 9.1% year on year because large-scale funerals declined and the number of lower-priced conventional funerals increased, resulting in lower revenue from funeral services.」

「Given the expected long-term, steady expansion of funeral demand based on the upward trend in the projected number of deaths, funeral operators continue to open new funeral halls throughout Japan, while competition for customers, including among funeral referral companies serving member organizations and those operating through websites, is intensifying. In addition, the ability to obtain information on funeral costs and service offerings online has made comparisons easier, and the expansion of providers specializing in low-priced, simple funerals has contributed to the continuing decline in average revenue per funeral.」

「Average revenue per funeral remains on a declining trend, as funeral service users can now easily compare funeral costs and service offerings online, while providers specializing in low-priced, simple funerals have also expanded.」