Seasonality of Recruitment Advertising Revenue and Fixed-Cost Burden
First written in FY2017. 14 of 27 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2020: 7 of 20 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new major risks or significant changes to the business risks described in the annual securities report that management recognized as potentially having a material effect on the financial position, operating results, or cash flows of the consolidated companies, among the matters concerning business conditions and financial matters described in this Semiannual Report.」
The comprehensive statement that there had been no material changes in the principal risks reconfirmed the risk of earnings volatility due to seasonality in recruitment advertising revenue and the burden of fixed costs. - FY2026-H1MitigatedAnnual report
「Operating income was ¥82 million, compared with operating income of ¥1 million in the previous interim consolidated accounting period; ordinary income was ¥80 million, compared with ordinary income of ¥6 million in the previous interim consolidated accounting period; and interim net income attributable to owners of the parent was ¥63 million, compared with net income attributable to owners of the parent of ¥30 million in the previous interim consolidated accounting period.」
Despite a 4.8% increase in selling, general and administrative expenses, higher revenue increased operating income from ¥1 million in the same period of the previous year to ¥82 million, reducing the impact of the fixed-cost burden weighing on profits when revenue fluctuates. - FY2025WorsenedAnnual report
「Although selling, general and administrative expenses included investment in advertising and sales promotion expenses to expand sales capabilities and improve product strength, they declined 2.7% to ¥2,829 million owing to reductions in distribution and other costs. As a result, operating income declined ¥38 million from the previous fiscal year to ¥68 million.」
As investment in advertising and sales promotion expenses continued while revenue declined, operating income fell 36.3% year on year to ¥68 million, reflecting the traditional risk characteristic whereby fixed costs and growth expenses weigh on profits. - FY2025-H1WorsenedAnnual report
「Advertising and sales promotion expenses, up 9.4% from the previous interim consolidated accounting period, were incurred as growth costs to expand sales and improve product value.」
While revenue declined 5.2% year on year, advertising and sales promotion expenses increased 9.4%, and operating income declined 98.2%. The traditional risk characteristic whereby the cost burden weighs on profits during periods of declining revenue was also reflected in the interim period. - FY2025-Q1WorsenedAnnual report
「Revenue declined compared with the same quarter of the previous year due to the impact of services suspended as part of the selection and concentration of businesses. However, investment in advertising and promotional expenses to enhance product value continued, resulting in operating profit of ¥10 million, down 80.3% year on year, ordinary profit of ¥13 million, down 77.5%, and net profit attributable to owners of the parent of ¥8 million, down 79.1%.」
While revenue declined, investment in advertising and sales promotion expenses continued, and operating income fell 80.3% year on year. The traditional characteristic whereby fluctuations in advertising revenue and the cost burden affect profits was reflected in a substantial decline in profit. - FY2024MitigatedAnnual report
「Operating income was ¥107 million, up 95.9% year on year, following the recovery in revenue.」
The recovery in revenue increased operating income from ¥54 million in the previous fiscal year to ¥107 million, reducing the impact of the risk that profits decline substantially because fixed costs cannot be absorbed when job advertising revenue falls. - FY2024-Q3MitigatedAnnual report
「Revenue growth contributed to operating income of ¥103 million, an increase of ¥96 million from the same quarter of the previous year.」
Higher revenue increased operating income from ¥6 million in the same period of the previous year to ¥103 million, reducing the year-on-year impact of the characteristic whereby the business cannot fully absorb fixed costs and profits decline substantially when advertising revenue fluctuates. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The disclosure stated that there had been no material changes in the risk of profit volatility arising from the seasonality of job advertising revenue and the fixed-cost burden. - FY2023-Q2MitigatedAnnual report
「Revenue increased compared with the same quarter of the previous year, but operating loss was ¥38 million following investment in personnel expenses and advertising and sales promotion expenses, compared with an operating loss of ¥84 million in the same quarter of the previous year.」
In addition to higher revenue, operating loss narrowed from ¥84 million in the same period of the previous year to ¥38 million despite the associated cost investment, reducing the impact of the fixed-cost burden on profits. However, an operating loss remained. - FY2022MitigatedAnnual report
「Following the recovery in revenue and a review of the cost structure, operating income was ¥0 million, compared with an operating loss of ¥545 million in the previous fiscal year.」
The recovery in revenue and review of the cost structure substantially reduced the impact of the risk of a significant operating loss caused by the inability to absorb fixed costs compared with the previous year, but operating income remained marginal. - FY2022-Q3MitigatedAnnual report
「For the cumulative quarterly consolidated period, the Group reported revenue of ¥2,684 million, up 16.5% year on year. Cost of sales was ¥854 million, down 3.7% year on year, and selling, general and administrative expenses were ¥1,868 million, up 1.0% year on year. The Group reported an operating loss of ¥37 million, compared with an operating loss of ¥432 million in the same period of the previous year.」
The increase in revenue and control of costs reduced the impact of the risk of an operating loss caused by the inability to absorb fixed costs compared with the same period of the previous year. However, an operating loss remained. - FY2021MaterialisedAnnual report
「The decline in revenue caused by the spread of COVID-19 could not be offset by cost reductions, resulting in an operating loss of ¥545 million (compared with operating income of ¥190 million in the previous fiscal year).」
The traditional risk characteristic whereby the business cannot fully absorb fixed costs such as personnel expenses when job advertising revenue declines was reflected in an operating loss for the fiscal year. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The risk of profit volatility arising from the seasonality of job advertising revenue and the fixed-cost burden was reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The risk of profit volatility arising from the seasonality of job advertising revenue and the fixed-cost burden was reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2020RestatedAnnual report
「The Group’s job information media business has a high gross profit margin but also a high selling, general and administrative expense-to-revenue ratio. Consequently, profits increase substantially when advertising revenue rises, while profits decline substantially when revenue falls because the business cannot fully absorb fixed costs such as personnel expenses.」
The continuing disclosure described the characteristic whereby fluctuations in job advertising revenue lead to profit volatility through the high fixed-cost burden. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The disclosure stated that there had been no material changes in the risk of profit volatility arising from the seasonality of job advertising revenue and the fixed-cost burden. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The risk of profit volatility arising from the seasonality of job advertising revenue and the fixed-cost burden was reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The risk of profit volatility arising from the seasonality of job advertising revenue and the fixed-cost burden was reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2019RestatedAnnual report
「The Group’s job information media business has a high gross profit margin but also a high selling, general and administrative expense-to-revenue ratio. Consequently, profits increase substantially when advertising revenue rises, while profits decline substantially when revenue falls because the business cannot fully absorb fixed costs such as personnel expenses.」
The continuing disclosure described the characteristic whereby fluctuations in job advertising revenue lead to profit volatility through the high fixed-cost burden. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The seasonality of job advertising revenue and the fixed-cost burden were reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The seasonality of job advertising revenue and the fixed-cost burden were reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The seasonality of job advertising revenue and the fixed-cost burden were reconfirmed through a comprehensive disclosure stating that there had been no material changes. - FY2018RestatedAnnual report
「The Group’s job information media business has a high gross profit margin but also a high selling, general and administrative expense-to-revenue ratio. Consequently, profits increase substantially when advertising revenue rises, while profits decline substantially when revenue falls because the business cannot fully absorb fixed costs such as personnel expenses.」
The continuing disclosure described the characteristic whereby fluctuations in job advertising revenue lead to profit volatility through the high fixed-cost burden. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The seasonality of job advertising revenue and the fixed-cost burden were reconfirmed through the general risk disclosure stating that there had been no material changes. - FY2017First statedAnnual report
「Seasonally adjusted figures (%) were 25.8, 23.5, 26.7, 24.0, 49.3, 50.7, and 100.0. In general, because non-regular employees are recruited flexibly in response to fluctuations in labor demand, the seasonal variation in the non-regular employment advertising market tends to be greater than that in the regular employment market. The Group’s job information media business has a high gross profit margin but also a high selling, general and administrative expense-to-revenue ratio. Consequently, profits increase substantially when advertising revenue rises, while profits decline substantially when revenue falls because the business cannot fully absorb fixed costs such as personnel expenses.」
Quarterly seasonally adjusted revenue figures were presented, explaining the risk of profit volatility arising from seasonal fluctuations in advertising revenue and the high fixed-cost burden.