Capturing demand from foreign visitors to Japan
First written in FY2016. 8 of 16 entries say "Mitigated", first in FY2023. Latest entry: 2026-08-04.
Sac'S Bar Holdings moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 3 of 8 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- 2026-08-04RestatedEarnings
「Inbound demand remained strong as the weak yen and other factors stimulated purchasing by visitors to Japan.」
The strong performance of demand from visitors to Japan was reported again. - FY2026MitigatedAnnual report
「Inbound demand remained generally firm, despite a substantial decline in visitors to Japan from China, as the number of visitors from other countries and regions increased.」
Although the number of visitors to Japan from China fell substantially, overall inbound demand was described as remaining firm due to an increase in visitors from other countries and regions. - FY2026-H1WorsenedAnnual report
「Revenue was ¥22,614 million, down 3.8% year on year, as domestic demand weakened and inbound sales slowed, resulting in a somewhat lackluster 2.7% year-on-year decline in same-store sales. The number of stores at the end of the interim consolidated accounting period also fell by 10 from the end of the same period a year earlier.」
The slowdown in inbound sales was explicitly noted, with same-store sales down 2.7% year on year and revenue from the retail and other businesses down 3.8%. - FY2025MitigatedAnnual report
「Inbound sales remained strong, but domestic consumption outside the major metropolitan areas struggled, and the decline in the number of stores also kept the increase to a marginal level.」
Inbound sales were described as remaining strong, with demand from international visitors to Japan continuing to recover and expand. However, overall revenue growth was limited by sluggish domestic consumption in regional areas and other factors. - FY2025-H1MitigatedAnnual report
「The expansion of inbound demand also helped support the economy.」
The expansion of inbound demand was cited as a factor supporting the economy, with demand from visitors to Japan continuing to recover and expand. - FY2024MitigatedAnnual report
「Travel-bag sales rose 34.1% from the previous fiscal year due to increased domestic and international travel and business trips, as well as expanding inbound demand.」
Travel-bag sales rose 34.1% from the previous fiscal year as travel and business trips recovered and inbound demand expanded, further easing the drag from the decline in demand from visitors to Japan. - FY2024-Q3MitigatedAnnual report
「Sales were ¥34,969 million, up 11.9% year on year, driven by the fading impact of COVID-19, contributions from the 24 stores of Gears Jam Co., Ltd., which became a wholly owned subsidiary in October 2022, and growth in inbound sales.」
Growth in inbound sales continued to support higher sales in the retail and other businesses, with demand from visitors to Japan continuing to recover and expand. - FY2024-Q2MitigatedAnnual report
「Sales were ¥23,211 million, up 15.8% year on year, driven by the fading impact of COVID-19, contributions from the 23 stores of Gears Jam Co., Ltd., which became a wholly owned subsidiary in October 2022, and growth in inbound sales.」
Growth in inbound sales was cited as a factor behind higher sales in the retail and other businesses, with demand from visitors to Japan continuing to recover and expand. - FY2024-Q1MitigatedAnnual report
「Sales were ¥11,426 million, up 15.2% year on year, driven by the fading impact of COVID-19, contributions from the 22 stores of Gears Jam Co., Ltd., which became a wholly owned subsidiary in October 2022, and the recovery in inbound sales.」
The recovery in inbound sales was cited as a factor behind higher sales in the retail and other businesses, with demand from visitors to Japan continuing to recover. - FY2023MitigatedAnnual report
「Sales rose 172.0% from the previous fiscal year due to a significant increase in travel, business trips and visits to family, as well as inbound demand.」
Travel-related demand, including demand from visitors to Japan, recovered as social activity normalised and border controls were eased, driving a 172.0% increase in travel-bag sales from the previous fiscal year. - FY2022WorsenedAnnual report
「Although restrictions on various social activities during the COVID-19 pandemic are expected to be gradually eased and lifted, with sales at physical stores consequently showing signs of recovery, we believe that the substantial contraction in inbound and outbound travel will continue and that, together with changes in lifestyles and other factors, it will be difficult for sales to recover to pre-pandemic levels.」
While noting signs of recovery at physical stores, the company indicated that the substantial contraction in inbound and outbound travel would continue and that recovering sales to pre-pandemic levels would be difficult. - FY2021WorsenedAnnual report
「As overseas travel and inbound demand had almost disappeared due to the impact of COVID-19」
The company stated that demand from visitors to Japan had almost disappeared. - FY2019DroppedAnnual reportIn this filing's management policy, capturing inbound demand is not listed as a standalone initiative. Demand from Chinese tourists is mentioned only as a factor behind sales of large-frame cases.
- FY2018RestatedAnnual report
「We will also actively pursue inbound demand while expanding e-commerce sales, which are expected to grow.」
The company reiterated its policy of continuing to capture inbound demand. - FY2017RestatedAnnual report
「Inbound sales also declined, as the so-called "buying spree" involving bulk purchases and high-priced items was largely no longer observed, particularly affecting sales of travel bags, domestically made men's bags and wallets. At the same time, the minimum purchase amount for tax-free purchases was lowered from "more than ¥10,000" to "¥5,000 or more" in May 2016, so the company expanded its lineup of popular products in lower price ranges to stimulate new demand.」
The company noted the slowdown in inbound demand and the disappearance of the buying spree, while continuing to expand its lineup of lower-priced products in response to the change in the tax-free purchase threshold. - FY2016First statedAnnual report
「We will pursue more aggressive efforts to capture inbound demand, particularly as the minimum purchase amount for tax-free sales was lowered in May 2016.」
The company cited a substantial increase in the number of stores offering tax-free sales and an enhanced lineup of Japanese-made products as measures to capture this demand.