Impact of the Consumption Tax Increase on Demand and Earnings
First written in FY2020-Q1. 1 of 4 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2020.
Ohsho Food Service Corp. moved to the "Worse" side of this theme in 2019.
2 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「In the restaurant industry, average spend per customer was on an upward trend due to strong sales of seasonal items and menu price revisions, and sales overall remained strong. However, the business environment deteriorated due to competition from the prepared-food market, declining demand resulting from the declining birthrate and aging population, and increases in labor costs caused by labor shortages, as well as the consumption tax increase.」
The consumption tax increase continues to be cited as a factor contributing to the deterioration of the business environment, alongside competition from the prepared-food market, declining demand and higher labor costs. - FY2020-Q3MaterialisedAnnual report
「However, consumer sentiment has weakened, partly due to factors including the increase in the consumption tax rate and rising food prices.」
It states that the increase in the consumption tax rate, together with rising food prices, affected consumer sentiment. - FY2020-Q2WorsenedAnnual report
「The outlook remains uncertain, compounded by the consumption tax increase from October this year.」
Regarding the consumption tax increase risk identified in the previous quarter, the company specifies that implementation will begin in October 2019 and describes it as a factor whose impact is imminent. - FY2020-Q1First statedAnnual report
「The outlook remains uncertain, partly due to the impact of the consumption tax increase.」
The impact of the consumption tax increase on demand for dining out and earnings is disclosed separately for the first time as a factor contributing to uncertainty about the outlook.