Changes in the business environment caused by yen depreciation, inflation, population decline and labor shortages
First written in FY2023. 1 of 3 entries say "Restated". Latest entry: FY2025.
Horai moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 22 of 29 companies on the "Worse" side.
18 other companies' latest entry also says "Worsened".
- FY2025WorsenedAnnual report
「The environment surrounding the company includes the following: (Environmental changes) More frequent extreme weather and increasingly serious impacts accompanying the progression of climate change, including global warming; (Domestic conditions) Further yen depreciation, accelerating inflation, contraction of the domestic market due to the declining birth rate and aging population, a decline in the total population and increasingly severe labor shortages; (International conditions) Intensifying global competition due to growth in emerging markets and the emergence of conflicts; (More stringent consumer behavior) Consumers’ preference for saving and lower prices, and stricter selection of products and services, among other factors.」
Lists extreme weather, global competition, conflicts, and consumers’ preference for saving and lower prices, in addition to the existing challenges of yen depreciation, inflation, population decline and labor shortages. - FY2024RestatedAnnual report
「(Domestic conditions) Further yen depreciation, accelerating inflation, contraction of the domestic market due to the declining birth rate and aging population, a decline in the total population, and increasingly severe labor shortages」
Continues to identify yen depreciation and inflation, contraction of the domestic market, population decline and labor shortages as challenges in the business environment. - FY2023First statedAnnual report
「The depreciation of the yen, accelerating inflation, contraction of the domestic market resulting from the declining birthrate and aging population, a declining total population, and increasingly severe labor shortages」
Newly summarizes the shrinking domestic market, population decline, labor shortages, yen depreciation and inflation as challenges in the business environment surrounding the company.