Increase in Trade Receivables and Working Capital Accompanying Sales Growth
First written in FY2018-Q2. 10 of 28 entries say "Worsened", first in FY2018-Q3. Latest entry: 2026-07-14.
S-Pool moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2022: 9 of 32 companies on the "Worse" side.
14 other companies' latest entry also says "Mitigated".
- 2026-07-14MitigatedEarnings
「Trade and other receivables decreased by ¥398 million.」
The decline in trade and other receivables indicates that the working capital burden associated with revenue growth is easing. - FY2026-H1MitigatedAnnual report
「Cash and cash equivalents decreased by ¥1,120 million due to dividend, tax and other payments, while trade and other receivables decreased by ¥398 million.」
Trade and other receivables decreased by ¥398 million, and the working capital burden accompanying revenue growth was eased through collections and other measures. - FY2025MitigatedAnnual report
「Cash and cash equivalents decreased by ¥230 million due to payments related to capital expenditures and the collection of trade and other receivables, while trade and other receivables decreased by ¥436 million.」
Collections of trade and other receivables progressed, reducing them by ¥436 million. The working capital burden that had arisen during the period of revenue growth was eased. - FY2025-H1MitigatedAnnual report
「Cash and cash equivalents increased by ¥1,362 million through the collection of trade and other receivables, while trade and other receivables decreased by ¥1,399 million.」
Collections of trade and other receivables progressed, and their ¥1,399 million decrease eased the working capital burden that had been an issue during the period of revenue growth. - FY2024WorsenedAnnual report
「This was attributable to pretax income of ¥2,569 million, depreciation and amortization of ¥3,394 million, an increase of ¥1,037 million in trade and other receivables, and corporate income tax payments of ¥816 million.」
Trade and other receivables increased by ¥1,037 million alongside revenue growth in the Business Solutions segment, causing the working capital burden to expand again. - FY2024-Q2RestatedAnnual report
「Trade and other receivables decreased by ¥275 million as revenue in the Human Resources Solutions segment declined.」
The decrease in trade and other receivables due to lower revenue in the Human Resources Solutions segment continued, with the change in the working capital burden disclosed as ¥275 million. - FY2024-Q1Decrease in trade receivables due to lower revenueAnnual report
「Trade and other receivables decreased by ¥269 million as revenue in the Human Resources Solutions segment declined.」
Although trade and other receivables decreased by ¥269 million, the disclosure attributes this to lower revenue in the Human Resources Solutions segment rather than progress in collections resulting from revenue growth. - FY2023MitigatedAnnual report
「¥249 million decrease in trade and other receivables」
Amid business conditions including lower revenue, trade and other receivables decreased by ¥249 million, easing the working capital burden that had been an issue during the period of revenue growth. - FY2023-Q3Accelerating decrease in accounts receivable due to lower revenueAnnual report
「Accounts receivable decreased by ¥438 million as revenue in the Human Resources Solutions segment declined.」
The decrease in accounts receivable due to lower revenue in the Human Resources Solutions segment widened from ¥102 million in the previous quarter to ¥438 million. - FY2023-Q2Continued decrease in accounts receivable due to lower revenueAnnual report
「Meanwhile, accounts receivable decreased by ¥102 million as revenue in the Human Resources Solutions segment declined.」
The decrease in accounts receivable due to lower revenue in the Human Resources Solutions segment continued, with a ¥102 million decrease from the end of the previous consolidated fiscal year. - FY2023-Q1Decrease in accounts receivable due to lower revenueAnnual report
「Accounts receivable decreased by ¥281 million as revenue in the Human Resources Solutions segment declined.」
Unlike the previous increases in trade receivables accompanying revenue growth and decreases resulting from progress in collections, the disclosure states that accounts receivable decreased by ¥281 million due to lower revenue in the Human Resources Solutions segment. - FY2022Renewed increase in trade receivablesAnnual report
「In addition, trade receivables increased by ¥29 million alongside continued revenue growth, primarily in the Business Solutions segment.」
Through the previous quarter, the disclosures stated that trade receivables had decreased as a result of collections, but for the full year they increased by ¥29 million alongside revenue growth. - FY2022-Q3MitigatedAnnual report
「Although revenue increased, primarily in the Human Resources Solutions business, notes and accounts receivable decreased by ¥371 million as collections of trade receivables progressed.」
Although revenue increased, the collection of trade receivables progressed, reducing notes and accounts receivable by ¥371 million and easing the cash burden on working capital. - FY2022-Q2MitigatedAnnual report
「Although revenue increased, primarily in the Human Resources Solutions business, notes and accounts receivable decreased by ¥316 million as collections of trade receivables progressed.」
Although revenue increased, collections of trade receivables progressed, and notes and accounts receivable decreased by ¥316 million, easing the funding burden on working capital. - FY2022-Q1MitigatedAnnual report
「Although revenue increased, primarily in the Human Resources Solutions business, notes and accounts receivable decreased by ¥96 million as collections of trade receivables progressed.」
Although revenue increased, collections of trade receivables progressed, and notes and accounts receivable decreased by ¥96 million. - FY2021WorsenedAnnual report
「This was due to pretax net income increasing by ¥435 million from the previous consolidated fiscal year to ¥2,640 million, as well as depreciation and amortization of ¥671 million, a ¥146 million increase in accrued expenses, a ¥452 million increase in trade receivables, and ¥741 million in corporate and other tax payments.」
The increase in trade receivables accompanying revenue growth reached ¥452 million, increasing the working capital funding burden. - FY2021-Q3WorsenedAnnual report
「In addition, trade receivables increased by ¥237 million as revenue continued to grow, primarily in the Human Resources Solutions business.」
Trade receivables increased by ¥237 million as revenue continued to grow, and the funding burden on working capital persisted. - FY2021-Q2WorsenedAnnual report
「This was due to a ¥707 million increase in working capital, mainly reflecting higher trade receivables, and ¥357 million in corporate and other tax payments, despite pretax quarterly net income increasing by ¥201 million year on year to ¥1,188 million and depreciation and amortization increasing by ¥85 million to ¥300 million.」
Working capital increased by ¥707 million, mainly due to higher trade receivables, expanding the funding burden associated with revenue growth. - FY2020WorsenedAnnual report
「In addition, trade receivables increased by ¥329 million as revenue continued to grow, primarily in the Human Resources Solutions business.」
Trade receivables increased by ¥329 million as revenue continued to grow. On a cash flow basis, a ¥290 million increase in trade receivables was also a factor affecting operating cash flow. - FY2020-Q3RestatedAnnual report
「In addition, trade receivables increased by ¥197 million as revenue continued to grow, primarily in the Human Resources Solutions business.」
Trade receivables continued to increase with revenue growth, and the company disclosed a ¥197 million funding burden on working capital. - FY2020-Q2WorsenedAnnual report
「This was due to a ¥273 million increase in working capital, mainly reflecting higher trade receivables, and ¥296 million in corporate and other tax payments, despite pretax quarterly net income increasing by ¥207 million year on year to ¥986 million and depreciation and amortization increasing by ¥50 million to ¥215 million.」
Working capital increased by ¥273 million, mainly due to higher trade receivables, with the funding burden becoming apparent again. - FY2019MitigatedAnnual report
「The resulting increases in accrued expenses, accounts payable and accrued consumption taxes exceeded the increase in trade receivables, resulting in a ¥71 million decrease in working capital.」
Although trade receivables increased by ¥534 million, the increase in accrued expenses and other items was greater, resulting in a ¥71 million decrease in working capital for the year. - FY2019-Q3WorsenedAnnual report
「Trade receivables increased by ¥280 million as revenue continued to grow, primarily in the Human Resources Solutions business.」
Trade receivables continued to increase with revenue growth, rising by ¥280 million from the end of the previous consolidated fiscal year. - FY2019-Q2WorsenedAnnual report
「This was due to a ¥272 million increase in working capital, mainly reflecting higher trade receivables, and ¥246 million in corporate and other tax payments, despite pretax quarterly net income increasing by ¥309 million year on year to ¥779 million and depreciation and amortization increasing by ¥45 million to ¥164 million.」
Working capital increased by ¥272 million, mainly due to higher trade receivables, with the funding burden accompanying revenue growth becoming apparent again after having eased in the previous quarter. - FY2019-Q1MitigatedAnnual report
「Revenue increased year on year, primarily in the Human Resources Solutions business, but trade receivables decreased by ¥154 million from the end of the previous consolidated fiscal year as collections progressed.」
Although revenue increased year on year, trade receivables decreased by ¥154 million from the end of the previous consolidated fiscal year as collections progressed, temporarily easing the working capital burden associated with revenue growth. - FY2018WorsenedAnnual report
「Revenue increased in both the Business Solutions and Human Resources Solutions businesses. Although accrued expenses, accounts payable and accrued corporate taxes increased, the increase in trade receivables exceeded the increase in these liabilities, resulting in a ¥298 million increase in working capital.」
The company quantified the annual impact of revenue growth, with working capital increasing by ¥298 million as the increase in trade receivables exceeded the increase in liabilities. - FY2018-Q3WorsenedAnnual report
「Trade receivables increased by ¥306 million due to higher revenue, primarily in the Human Resources Solutions business.」
The company specifically disclosed a ¥306 million increase in trade receivables accompanying revenue growth, indicating a continuing funding burden on working capital. - FY2018-Q2First statedAnnual report
「This was due to a ¥213 million increase in working capital, mainly reflecting higher trade receivables, and ¥116 million in corporate and other tax payments, despite pretax quarterly net income increasing by ¥196 million year on year to ¥469 million and depreciation and amortization increasing by ¥19 million to ¥119 million.」
The company disclosed that working capital increased by ¥213 million, mainly due to higher trade receivables, and that ¥116 million in corporate and other tax payments also affected operating cash flow.