Sluggish cargo volumes, volatile fuel costs and rising driver labor costs in the transport business
First written in FY2017. 11 of 35 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-11-09.
Sonec moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 4 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2026RestatedAnnual report
「In the transportation industry, domestic freight volumes have remained weak year on year, and the challenging situation continues as higher labor, outsourcing and fuel costs squeeze earnings power.」
It continues to describe weak domestic freight volumes and pressure on earnings power from higher labor, outsourcing and fuel costs. - 2026-06-01RestatedGeneral Meeting of Shareholders
「In the transportation industry, domestic freight volumes have remained weak year on year, and the challenging situation continues as higher labor, outsourcing and fuel costs squeeze earnings power.」
国内輸送量の弱含みと人件費・外注費・燃料費の上昇による収益圧迫を継続して記載している。 - FY2026-H1RestatedAnnual report
「Meanwhile, in the transportation industry, the recovery in domestic freight volumes remains sluggish, and higher labor and outsourcing costs continue to squeeze earnings power.」
It continues to state that the recovery in domestic freight volumes is sluggish and that higher labor and outsourcing costs are squeezing earnings power. - FY2025WorsenedAnnual report
「Meanwhile, in the transportation industry, price increases to secure appropriate freight rates and productivity improvements are being pursued ahead of the 2024 problem, but the resulting higher costs cannot be absorbed, and difficult conditions continue.」
Although price increases and productivity improvements are being pursued, higher costs cannot be absorbed, and the transportation business continues to face a challenging earnings environment. - FY2025-H1WorsenedAnnual report
「Meanwhile, in the transportation industry, higher labor and outsourcing costs in response to the 2024 problem and other factors could squeeze earnings power.」
Unlike the performance improvement phase indicated in the previous fiscal year, driven by price increases and productivity improvements, it newly specifies the possibility that higher labor and outsourcing costs against the backdrop of the 2024 problem could squeeze earnings power. - FY2024MitigatedAnnual report
「Meanwhile, in the transportation industry, price increases to secure appropriate freight rates and productivity improvements were pursued ahead of the 2024 problem, and performance improved as freight movements recovered.」
It describes progress on price increases to secure appropriate freight rates and productivity improvements ahead of the 2024 problem, together with improved performance as freight movements recovered. - FY2024-Q3Partial price pass-through coexists with fuel cost pressureAnnual report
「Meanwhile, in the transportation industry, some price pass-through is progressing, but the industry environment remains challenging, as soaring fuel costs and other factors continue to squeeze profits.」
While price pass-through has progressed in some areas, the challenging environment in which soaring fuel costs squeeze profits continues. - FY2024-Q2RestatedAnnual report
「Meanwhile, in the transportation industry, cost increases, including soaring diesel prices and higher labor costs, have preceded price pass-through, which has not progressed.」
It continues to describe a challenging transportation industry environment in which diesel prices and labor costs are rising while price pass-through has not progressed. - FY2023WorsenedAnnual report
「Meanwhile, in the transportation industry, sluggish near-term economic conditions have affected business, price negotiations with shippers have become more difficult, and business conditions have become extremely challenging.」
It describes the transportation industry as facing extremely challenging business conditions due to sluggish near-term economic conditions and increasingly difficult price negotiations with shippers. - FY2023-Q3WorsenedAnnual report
「Meanwhile, in the transportation industry, sales have failed to grow due to driver shortages, while soaring fuel costs are squeezing profits, resulting in a challenging industry environment.」
It describes a challenging transportation industry environment in which driver shortages are preventing sales growth and soaring fuel costs are squeezing profits. - FY2023-Q2WorsenedAnnual report
「Meanwhile, in the transportation industry, higher fuel and other costs had reached a point where passing them on was an urgent priority.」
It states that fuel and other costs continue to rise, making it an urgent priority to pass them on to freight rates and other charges. - FY2023-Q1WorsenedAnnual report
「Meanwhile, in the transportation industry, with diesel and other fuel prices remaining high, costs could not be passed on to freight rates, resulting in a challenging operating environment.」
It states that, while fuel prices remain high, costs cannot be passed on to freight rates, resulting in a challenging operating environment. - FY2022WorsenedAnnual report
「Meanwhile, in the transportation industry, logistics activity was recovering after the state of emergency was lifted, but higher fuel costs had an impact, resulting in extremely challenging business conditions.」
While logistics activity was recovering, it states that the transportation industry's business conditions were extremely challenging due to the impact of higher fuel costs. - FY2022-Q3RestatedAnnual report
「Meanwhile, in the transportation industry, soaring fuel prices continue, leaving the industry environment challenging.」
It indicates that soaring fuel prices continue in the transportation industry, resulting in a challenging industry environment. - FY2022-Q2WorsenedAnnual report
「Meanwhile, in the transportation industry, freight movements were difficult to predict, and rising diesel prices continued, leaving the outlook uncertain.」
It states that, in addition to the difficulty of predicting future freight volumes, diesel prices continued to rise, increasing uncertainty over the transportation industry's outlook. - FY2022-Q1WorsenedAnnual report
「Meanwhile, in the transportation industry, domestic consumption increased and e-commerce-related business remained firm, but fuel prices continued to rise, and domestic freight movements stagnated due to material shortages in the manufacturing and construction industries.」
While e-commerce-related business remained firm, fuel prices continued to rise, and domestic freight movements stagnated due to material shortages in the manufacturing and construction industries. - FY2021-Q3Freight volumes recover and fuel prices decline, but the environment remains challengingAnnual report
「Meanwhile, in the transportation industry, general freight volumes showed signs of recovery and benefited from lower fuel prices, but the industry environment remained challenging.」
It states that general freight volumes recovered and benefited from lower fuel prices, while the transportation industry remained in a challenging environment. - FY2021-Q2MaterialisedAnnual report
「Meanwhile, in the transportation industry, individual demand for parcel delivery and other services surged, but B to B freight movements fell sharply and remained sluggish.」
Amid the impact of COVID-19, individual demand for parcel delivery and other services surged, while B to B freight movements fell sharply and remained sluggish. - FY2021-Q1MaterialisedAnnual report
「Meanwhile, in the transportation industry, deliveries of some goods, including work-from-home-related products, expanded sharply, but the movement of most freight remained sluggish.」
As the novel coronavirus spread, deliveries of some goods expanded while the movement of most freight became sluggish. - FY2020Declining efficiency, worsening labor shortages and cost pass-through coexistAnnual report
「Meanwhile, in the transportation industry, efficiency has declined as shipments have become more frequent and smaller in lot size, and labor shortages have become severe. Although higher costs, including labor costs, are gradually being passed on to prices, the environment remains challenging for logistics operators.」
While declining efficiency and worsening labor shortages caused by more frequent, smaller-lot shipments continue, cost pass-through is progressing, but the industry environment remains challenging. - FY2020-Q3Worsening labor shortages and progress in cost pass-throughAnnual report
「Meanwhile, in the transportation industry, declining efficiency, an aging workforce and labor shortages have become increasingly severe as shipments have become more frequent and smaller in lot size, but the pass-through of higher costs, including labor costs, is progressing, and performance is improving overall.」
While declining efficiency, an aging workforce and labor shortages have become increasingly severe against the backdrop of more frequent, smaller-lot shipments, the pass-through of higher costs, including labor costs, is progressing, and performance is improving overall, it states. - FY2020-Q2Worsening aging and labor shortages coexist with improved performanceAnnual report
「Meanwhile, in the transportation industry, more frequent, smaller-lot shipments have become the norm, and declining efficiency, an aging workforce and labor shortages have become increasingly severe. However, the environment allows higher costs, including labor costs, to be passed on, and performance is improving overall.」
While declining efficiency, an aging workforce and labor shortages have become increasingly severe against the backdrop of more frequent, smaller-lot shipments, higher costs, including labor costs, can be passed on more easily, and the transportation industry's performance is improving overall, it states. - FY2020-Q1Declining efficiency and worsening labor shortages coexist with improved performanceAnnual report
「Meanwhile, in the transportation industry, the decline in efficiency and labor shortages caused by the shift toward more frequent, smaller-lot shipments have become increasingly severe, but the environment allows higher costs, including labor costs, to be passed on, and performance is improving overall.」
While declining efficiency and labor shortages caused by more frequent, smaller-lot shipments have become increasingly severe, higher costs, including labor costs, can be passed on more easily, and the transportation industry's performance is improving overall, it states. - FY2019Higher freight rates and improved earnings coexist with labor shortagesAnnual report
「Meanwhile, in the transportation industry, freight volumes have remained firm and earnings improvement is evident, driven by higher freight rates and other factors, but labor shortages persist, making the environment challenging for logistics operators.」
While firm freight volumes and earnings improvement driven by higher freight rates are evident, labor shortages and a challenging business environment continue. - FY2019-Q3Freight volumes and crude oil prices improve; labor shortage continuesAnnual report
「Meanwhile, in the transportation industry, freight volumes have remained firm and crude oil prices have declined, but labor shortages and other issues continue.」
From the previous situation of weak freight volumes and unstable fuel costs, freight volumes have become firm and crude oil prices have declined, while labor shortages continue. - FY2019-Q2Improvement in earnings and the environment for passing through costsAnnual report
「Meanwhile, in the transportation industry, the downward trend in freight volumes is beginning to bottom out, driven by the expansion of e-commerce and other factors. As shippers have come to recognize the driver shortage caused by more frequent, smaller-lot shipments, the environment has become more conducive to passing on higher costs, including labor costs, and logistics operators' performance is improving.」
It states that the decline in freight volumes has bottomed out due to the expansion of e-commerce and other factors, that shippers recognize the driver shortage and rising costs, and that cost pass-through and logistics operators' performance are improving. - FY2019-Q1RestatedAnnual report
「In the transport industry, labor costs have been rising sharply because of driver shortages, but a moderate recovery trend continues.」
The Group continues to report sharply rising labor costs associated with driver shortages, while stating that the transport industry is on a moderate recovery trend. - FY2018RestatedAnnual report
「Freight volumes have remained at low levels, fuel prices are volatile, and driver labor costs are also trending upward, creating a challenging business environment.」
The Group continues to describe the difficult environment in the transport business resulting from sluggish freight volumes, volatile fuel costs and rising driver labor costs. - FY2018-Q3RestatedAnnual report
「In the transport industry, freight volumes have remained at low levels, and the industry faces a difficult environment, including problems related to fuel prices.」
The Group states that freight volumes in the transport industry have remained at low levels and that the difficult environment continues because of issues including fuel prices. - FY2018-Q2RestatedAnnual report
「In the transport industry, labor costs are also trending sharply higher because of driver shortages, and the difficult environment for logistics operators continues.」
The Group continues to report the trend of sharply rising labor costs caused by driver shortages and the continuing difficult environment for logistics operators. - FY2018-Q1WorsenedAnnual report
「In the transport industry, labor costs have been rising sharply because of driver shortages, but higher charges have not been passed through to freight rates, and the difficult environment for logistics operators continues.」
The description of labor costs associated with driver shortages was strengthened from a conventional upward trend to a sharp increase, while the lack of pass-through of higher costs to freight rates was also noted. - FY2017First statedAnnual report
「Domestic cargo volumes have remained below the previous year for several years, albeit by a small margin. Fuel prices are volatile, and driver labor costs are also trending upward, creating a challenging business environment.」
The Group identified three specific business-environment risks in the transport business: domestic cargo volumes remaining below the previous year for several years, fuel-price volatility, and rising driver labor costs.