Increasing difficulty securing personnel against a backdrop of the declining birthrate
First written in FY2017. 2 of 9 entries say "Dropped", first in FY2018. Latest entry: FY2026.
Subaru moved to the "Worse" side of this theme in 2023, 1 year before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 15 of 59 companies on the "Worse" side.
56 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The job market remains favourable to job seekers, and a growing number of companies nationwide are experiencing hiring difficulties. We too continue to struggle to recruit employees, making it necessary to review our recruitment activities.」
It continues to mention nationwide hiring difficulties and the company's struggle to recruit employees. - 2026-04-27WorsenedGeneral Meetings of Shareholders
「We have also continued to face difficulties in recruiting employees, creating a need to review our recruitment activities.」
The Company explicitly states that difficulties in recruiting its own employees have continued. - FY2025WorsenedAnnual report
「The labor market for job seekers has remained tight, and a growing number of companies nationwide are struggling to recruit. Our company has also continued to face difficulties recruiting employees, creating a need to review our recruitment activities.」
It specifically states that, in addition to nationwide hiring difficulties, the company continues to struggle to recruit employees. - FY2024-Q1ReframedAnnual report
「Meanwhile, high prices caused by soaring energy and raw material costs and a labor shortage on the supply side have continued, leaving the outlook uncertain.」
A theme similar to the previous description of difficulty securing personnel against the backdrop of the declining birth rate is presented this time as a macroeconomic constraint, namely a labor shortage on the supply side. - FY2020DroppedAnnual reportThe chronic labor shortage and difficulty securing personnel described in the previous filing are not explicitly mentioned in the risk section of this filing.
- FY2019RestatedAnnual report
「In Japan, a chronic labor shortage continues」
The company continues to describe personnel-related risk as a chronic labor shortage in Japan. - FY2019-Q3ReframedAnnual report
「The outlook for the economy has become uncertain, owing to reconstruction from natural disasters and the chronic labor shortage.」
A theme similar to the previously unstated difficulty securing personnel has been included again as a “chronic labor shortage,” this time in the context of an uncertain economic outlook rather than the personnel-related issue arising from the declining birth rate. - FY2018DroppedAnnual reportThe difficulty securing personnel due to the declining birth rate, which was described previously, is not explicitly stated in the risk section of this filing.
- FY2017First statedAnnual report
「The impact of the declining birth rate has made it difficult to secure personnel.」
The company explicitly identifies difficulty securing personnel due to the declining birth rate as an immediate issue.